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Tech Tips To Improve Marketing Strategies

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Good marketing is as much of a science as it is an art. This fundamental statement is truer now than ever. With the many changes in marketing happening at rapid speed, it’s important to keep up. But at the same time, basic principles still provide a solid foundation for good practices when it comes to marketing. So, how do you apply the latest technologies to improve your marketing strategies? Read on and we’ll share with you some tips you can apply.

Incorporating Automation Tools

Almost every business today makes it a point to utilize digitized tools, practices, and processes. By doing this, companies hope to help their employees be more efficient and productive. Among such digitized tools that facilitate changes like this is automation. Automation is when you use technology or software that can automate, optimize, as well as to measure online tasks that are repetitive. 

One of the ways that businesses can use automation is in email marketing. The campaigns in email marketing must be relevant, personalized, and timely to the audience. Without automation, customizing each email will require a lot of time and effort. Using automation tools can allow your marketing team to send out customized emails at the hundreds and thousands. It can definitely maximize your company’s efficiency and of course, the ROI. 

Making Better Business Decisions Using Big Data

To make sound decisions for your business, you need to look at what the available data are saying. Approaching decisions with just assumptions or your gut feelings may cost your business. It’s time to study what researches have found so that you can have data-driven insights. 

Big data is a vital part of effective marketing strategies and the decisions guiding them. It is a huge and fast-expanding set of digitized data that is available on a daily basis. With the advances in technology today for data storage as well as for analytics, businesses can easily capture and store data. You can assess text, audio recordings, videos, and photos. 

You can use these pieces of information so you can anticipate needs, avoid risks, and also deliver better products and services to your customers. Your marketing team can customize campaigns to improve customer services and experience. Today’s consumers look for businesses that truly understand their needs and preferences. 

Migrating To The Cloud

There are many benefits that businesses can enjoy by making use of the cloud. Marketing cloud services are here and companies should take advantage of them. They can be used for communication such as Slack and Skype, or for document storage and sharing like Google Drive and Dropbox. 

Explore cloud platforms that are specific for marketing. You can make use of it by gathering data about the sentiments of your clients from niche communities. You can then identify what are the common trends in the client sentiment for a specific product, brand, or company. That’s a way that you can gain a better understanding of your target group and improve your marketing strategies. 

This year, make sure that you take full advantage of the latest technologies to help you with your marketing strategies. Get ahead of your competition by learning what’s new and what’s most useful in the world of marketing technology and make use of them in your business. 

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Big Change Ahead: Facebook On Monetizing WhatsApp

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Just 14 months earlier, the management of WhatsApp stated that the company’s main monetization mode will be advertising. But at present, there are plans to put the ads in WhatApp on hold. The advertising team was disbanded and their code was also deleted. 

Facebook planned to begin placing ads in the WhatsApp status which is similar to Instagram Stories. The prototype was supposed to be previewed in May. But with the hold status of this plan, it is no longer certain when the feature will be released. 

The WhatsApp Status ads are comparable to Instagram Stories and both features almost have the same number of users. However, Instagram users are much more focused on the North American market. 

One of the challenges here is that the ability of the marketers to target ads on the app and they may not get similar results to that of Instagram. WhatsApp is more private while on Instagram, users share and basically broadcast what their interests are. 

It’s possible for Facebook to use its existing user data from other apps. But there’s a good number of WhatsApp users who are yet to connect their Facebook account to the ones they have in WhatsApp. 

The company acquired the messaging app in 2014 for $19 billion. Its investors are probably wondering how Facebook will monetize the service which has over 1.5 billion users. Instead of adds, Facebook is exploring on enabling businesses to connect with their consumers using WhatsApp. 

One of the efforts toward this direction is the WhatsApp Business. The app was launched a couple of years ago. A paid API was then added after a few months. WhatsApp Business encourages businesses to quickly respond to clients. It also makes it easier for businesses, both big and small, to get in touch with their consumers using the messaging app. 

Facebook gave its investors an update last year. It stated that WhatsApp Business already has 5 million active businesses. Since then, the iOS version of the app was released. The most recent feature of WhatsApp Business is Catalogs. With it, users can discover products from businesses and merchants that they correspond with on the app. 

Another thing that Facebook is working on is developing a payment platform on the messaging app. They’re going to start it in India. However, this feature has been delayed because the Indian government is concerned regarding data localization. At present, Facebook is looking into other ways that it can extend Facebook Pay to the company’s other apps. 

The focus of Facebook is providing businesses with more tools so that they can connect with their clientele better and easier. This step away from invasive ads will most likely pay off for the long term. What the company needs to create is the habit of learning, discovering, and purchasing products on WhatsApp which is common with Instagram users. 

The company can provide paid tools for various businesses so that this habit may be facilitated. After making the messaging app a place for commerce, it may have a more significant opportunity in advertising with the WhatsApp Status. 

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What Defines A Small Business & A Large Business?

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According to the U.S Small Business Administration or SBA, a small business is a business that comprises of independent owners and is an entity that is not dominant in its respective field. The size of a business is essential because there is an array of laws that applies to large companies — also, the size of business assists in determining the company’s entitlement for federal contracts and programs.

To determine the size of a business, the average number of employees, as well as the average of annual receipts, are taken into account by the federal government. Usually, a company that has 500 or more employees and have an average of $7 million in annual receipts are considered to be under the large business category. However, there are exceptions to these standards in some industries.

Based on the SBA guidelines, some manufacturing companies which employ 1,500 individuals can still be determined to be a small business. While on the other hand, in the construction industry, a business that has an annual receipt of $33.5 million is defined to be a large business. In the dredging industry, if a company has a total average revenue of $20 million or less, it is a small business; this also applies to specialty trade contractors who have an average annual receipt of $14 million or less.

Research & Development Businesses

Businesses who are in the research and development industry are the only service businesses where the government considers the size of employees to determine whether it is small or large. Commonly, retail companies who have an annual receipt of $7 million or more is a large business. Although, a grocery store, car dealer, electrical appliance business can be considered under the small business category if it has an average annual receipt of less than $35.5 million.

Foreign & Domestic Affiliations     

International and Domestic Affiliations are also subject to classification. If an affiliation has over 50 percent of voting stock, then it is considered a large business.

The SBA says that a large business entails a CEO having power over a company due to widely distributed stocks, several people who have the same business interests, or an economic dependency upon a company.

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Apple’s Services Business Is Expected To Be Valued At $650 Billion This Coming Year

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The 2019 year marked the success of Apple’s services business as the company introduced a bunch of new services last March of 2019. Offerings like Apple Card, Apple TV, and Apple Arcade are aimed to latch consumers into patronizing the brand. 

Dan Elves, a Wedbush analyst, had expressed his expertise and said that Apple Services could be worth $500 billion to $650 billion by the year 2021. The anticipated worth of the company’s services business will be similar to Facebook’s value in the present day. 

Having said that, the company is still expected to grow over the next coming years, especially if the 5G iPhone supercycle hits the market; this will also increase the company’s sales as users will upgrade their units to take advantage of the 5G wireless networks. 

Today, there are an estimated 350 million iPhone users in the upgrade window, and that number is expected to increase by 50 million over the next two years. 

Growing Out Their Gross Margin 

Apple just recently broke down its cost of sales, and the numbers did not disappoint. Experts predicted that the gross services margin would be about 55%, but in the year 2018, the company’s services gross reached over 61% and rose to 63.7% in 2019. Those numbers still have the potential to grow over time; however, investors should still remain cautious because the company is making long-term investments with its services business. 

A business worth $60 billion with a gross exceeding 60% is undoubtedly a precious asset. 

For a clear standpoint, Facebook has garnered $66.5 billion in revenue with a gross margin exceeding 80% over the past 12 months, and the market presently values the company at $630 billion. Its revenue is also increasing at a faster pace than Apple’s services business. 

Nonetheless, Apple’s services business has no comparison, as each business is unique. With its high-margin and fast-growing source of revenue, it’s vital characteristic is in the Apple ecosystem. This feature is an advantage for the company because Apple device owners are likely to purchase devices and subscriptions from the tech company. 

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