Nov 8 2023
Effective Business Alignment Techniques for Organizational Success

Nowadays, the global business landscape has become a fast-paced and result-oriented organizational structure.  Hence, the success of every organization is based on how it can align with various facets of the company to reach its common goals and objectives. This alignment fosters efficiency in every business function and ensures that every employee within the organization works collaboratively to implement development strategies to reach a common goal. In this article, let’s study effective business alignment techniques that can make an organization reach success based on its vision and mission.

 

Vision and Mission

The first and most important step in developing your business with the best alignment techniques is to develop a clear and compelling vision and mission. Your vision should focus on what you aspire to achieve in the long run and your various missions should express how you strategize to complete them, and it should also be realistic, remarkable, and aspirational. These strategies will guide your organizational success, making employees comprehend the big picture of their role in your organization. When everyone works on the same goals, alignment becomes more powerful.

 

Communication

Effective communication plays a key role in a business’s success. Hence, when it comes to alignment, productive communication techniques should be developed to use them at all levels of the organization. Leaders should be well-trained to express the company’s vision, goals, and strategies, and will be able to encourage questions and feedback. Observing regular meetings and connecting with the decision-makers and higher-ups can help everyone in the company access to relevant information. If employees are well-informed, they are aware of their efforts with the organization’s objectives.

 

Goals and Key Performance Indicators

Business alignment techniques require specific, measurable, achievable, relevant, and time-bound (SMART) goals. Hence, every department and individual should understand how important to set clear objectives that support the overall company growth.   Moreover, create Key Performance Indicators (KPIs) to track progress in every function. The power of having aligned KPIs is that it pulls everyone and every strategy together lessening the time and effort needed to achieve goals. Recurrently analysing and adjusting these metrics will help ensure that everyone in a company is working towards reaching the same targets.

 

Cross-Functional Collaboration

If there is a strong collaboration between different departments and teams, it will be a functional advancement. Individual or particular team efforts are not sufficient to achieve a big target because a task may include several sub-tasks. With alignment techniques, a company should encourage cross-functional collaboration by sharing information, promoting teamwork, and breaking down communication barriers in order to improve employee engagement, motivation, diversity, and business alignment.

 

Employee Development and Training

Investing in employee development and training empowers employees to hone their skills and align their growth with the company’s needs. When employees realize that their professional development is highly important to achieve a particular goal, they will become engaged and committed to performing something for the organization’s success. Every training program should depend on the best alignment techniques based on the skills and competencies required to achieve the company’s strategic objectives. If companies give employees their trust and support and make them feel valued, it will equip them to create a community with a clear and common purpose.

 

Embrace Technology and Data

In this digital age utilizing the power of technology and data science plays a pivotal role in the business alignment process. Technology and data offer meaningful insights into the effectiveness of the strategies and the feasibility of proposed solutions.  Implementing the suitable and the latest software or AI tools can streamline and improve communication and processes, and provide valuable insights through data analytics. By harnessing the power of technology and data, companies can make informed decisions and quickly adapt to transforming market conditions.

 

Continuous Improvement

Achieving alignment is an ever-evolving process. Oftentimes, one might think that leadership and employee dedication are enough to achieve success but it takes more than that. Continuous improvement plays a big role in the strategic process. To achieve success is not a small task, but a clear path to organizational alignment is what the world’s most successful companies have in common. If you are a company that needs assessments, you should regularly assess and reassess your strategies, processes, and goals. Also, you should encourage a culture of continuous improvement where employees are empowered to classify and address areas that need enhancement. This adaptability will make sure that your organization remains aligned even in the face of evolving challenges.

 

Recognition and Rewards

The companies that acknowledge and reward employees for their contributions towards alignment will lead to organizational success. Corporate culture always has a significant effect on any company’s ability to develop new strategies and improve processes. Recognizing exceptional efforts fosters a sense of ownership and motivates employees to continue aligning their work with the company’s goals.

 

Conclusion

If the success of a company is built with effective business alignment techniques, it can establish a clear vision, set goals, foster communication, encourage collaboration, invest in employee development, leverage technology, and maintain a culture of constant improvement. Alignment techniques are essential to thrive in today’s competitive corporate landscape. Having each area aligned toward common goals such as customer retention, improved productivity, and increased revenue, businesses can promote positive results and enjoy optimized functionality.  Adopt these techniques to make your organization flourish if you want to move it toward the right purpose and direction.

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Nov 3 2023
Leveraging AI to Supercharge Sales: Unleashing the Power of Technology

When it comes to today’s fast-paced and ever-evolving corporate world (or business landscape), staying competitive needs a lot more than introducing a quality product or service. Companies are looking for strategic and innovative tools to boost sales. Now the evolution of the present world depends on welcoming AI technology, one of the most powerful business tools that make magic in business. By utilizing the capabilities of AI, companies are trying to optimize their sales processes to drive revenue growth. In this article, let’s study how we can leverage AI to supercharge sales. Or (In this article, let’s delve into the thrilling world of leveraging AI to supercharge sales and discover how this powerful technology is transmuting the sales process as we know it.)

 

Sales Automation

As routine and repetitive tasks can consume valuable time for salespersons, AI-powered sales automation can manage routine tasks such as follow-up emails, lead qualification, and appointment scheduling. By doing so, salespersons will have much time to focus on developing important strategies to take other decisions. AI tools can streamline the process to enhance efficiency and reduce slow progress.

Benefits of sales automation

  • Automated order processing, improving efficiency
  • Better sales pipeline visibility
  • Consistent follow-ups, reducing missed opportunities
  • Enhanced sales forecasting accuracy
  • Improved task prioritization
  • Streamlined lead management
  • Time-saving for sales teams
  • Improved Lead Scoring
  • Personalization at Scale
  • Enhanced Sales Prediction

 

Data-Driven Insights

In an era defined by an unprecedented flow of data, the ability to harness this information for strategic advantage has become the holy grail of modern businesses. AI-powered tools can evaluate vast amounts of customer data so that companies can gain valuable insights about behavior patterns, preferences, and buying habits. These types of data enable companies to develop custom-made and targeted sales strategies as they can lead to higher customer satisfaction and conversion rates.

Benefits of data-driven insights

  • Accurate demand forecasting
  • Competitive analysis for effective positioning
  • Customer segmentation for targeted marketing
  • Enhanced customer profiling
  • Informed sales strategies
  • Quick response to changing customer preferences
  • Real-time market trend identification
  • Reduced manual labor & lowered operational costs
  • Detect fraudulent activities
  • Ensure compliance with industry regulations & standards

 

Predictive Analytics

The ability to predict future outcomes with precision has been a strategic imperative for businesses nowadays. This is where Artificial Intelligence (AI) steps in as a game-changing force, providing a range of transformative benefits through its predictive analysis competencies.  Some AI algorithms are developed to predict future business trends and ever-changing customer needs. Hence, sales teams will have the ability to proactively address these needs. This protective approach will empower companies to become solution providers that will build trust and loyalty among customers.

Benefits of predictive analytics

  • Customized product recommendations
  • Early identification of sales opportunities
  • Efficient resource allocation
  • Improved sales team performance assessment
  • Optimized inventory management
  • Proactive customer engagement
  • Reduced churn through predictive retention strategies
  • Enhances Customer Insights
  • Can help in monitoring & predicting environmental changes

 

Dynamic Pricing

Setting the right pricing for products and services can make all the transformation between success and stagnation. Gone are those days of fixed price tags. AI is now in control, steering businesses toward a more responsive approach to pricing. AI algorithms can also evaluate competitor pricing, market trends, and customer behaviors around the world to set dynamic pricing strategies, ensuring that prices remain competitive while increasing profit margins.

Benefits of dynamic pricing

  • Demand-based pricing strategies
  • Effective clearance of excess inventory
  • Improved price perception
  • Increased sales during off-peak periods
  • Maximization of revenue
  • Pricing optimization for different customer segments
  • Real-time price adjustments for competitiveness
  • Adaptation to market changes

 

Chatbots and Virtual Assistants

In the emerging world of sales, where every moment counts and every interaction holds the potential to seal a deal, AI-powered Chatbots and Virtual Assistants have risen as invaluable allies. They are not just tools but powerful sales accelerators. AI-driven chatbots are used to answer instantly for customer inquiries as it provides 24/7 support for enhancing the buying experience. These tools can also support customers in answering questions, product selections, and guiding them through the sales funnel. By performing this, these chatbots and virtual assistants lead to increased conversions.

Benefits of chatbots and virtual assistants

  • 24/7 customer support availability
  • Data-driven personalized interactions
  • Efficient lead qualification
  • Multilingual support, expanding customer reach
  • Quick response to customer queries
  • Reduced response time, improving customer satisfaction
  • Seamless appointment scheduling
  • Cross-Selling and Upselling
  • Nurtures Leads

 

Continuous Learning

Nowadays the corporate world focuses on continuous learning to make (or keep) their employees updated and skilled and this is where the concept of continuous learning becomes critical. Continuous Learning is not just an enrichment of conventional education, it showcases a fundamental shift in how organizations adapt and thrive in an era of insistent change. Here, AI models come to get them trained to learn from past successes and failures. When they use this feedback, they can refine their sales strategies over time as it will ensure a constant improvement in their business development methods.

Benefits of continuous learning

  • Accelerated onboarding for new sales members
  • Adaptation to market changes
  • Enhanced product knowledge for better selling
  • Improved sales pitch refinement
  • Quick incorporation of customer feedback
  • Regular skill enhancement
  • Up-to-date sales techniques adoption
  • Personalized Learning
  • Curriculum Customization

 

Personalized Recommendations

In this modern digital world where information overload is a common encounter, the search for personalization has never been more critical and this is where AI steps onto the stage as a radical force. AI is shaping the future of hyper-personalization. If companies implement recommendation systems with the support of AI tools, they can improve products or services based on a customer’s purchasing history. This type of cross-selling and upselling strategy can pointedly boost the ratio of revenue.

Benefits of personalized recommendations

  • Anticipating customer needs
  • Better user experience through relevant suggestions
  • Customized content delivery for individual preferences
  • Enhanced product discovery for customers
  • Higher conversion rates through tailored offers
  • Improved customer engagement and loyalty
  • Increased cross-selling and upselling opportunities
  • Decreased decision fatigue & easier selections
  • Enhanced visibility in content platforms

 

CRM Enhancement

When companies integrate AI tools with their customer relationship management (CRM) system, they will gain deeper insights into customer interactions.. Hence, their sales teams can improve customer engagement and loyalty.

By instilling the power of AI into Customer Relationship Management systems, businesses are poised to supercharge their sales efforts, improve their customer engagement and reach an unprecedented growth.

Benefits of CRM enhancement

  • Comprehensive customer view for better interactions
  • Efficient lead tracking and management
  • Enhanced customer communication history
  • Improved customer segmentation and targeting
  • Seamless integration with other sales tools
  • Simplified contact management
  • Streamlined sales performance analysis
  • Enhanced Sales Training

 

Conclusion

According to the latest statistics, AI tools can significantly play a great role to boost (or in boosting) sales performance and revenue generation. By utilizing the power of predictive analytics, automation, data-driven insights, and personalized interactions, companies can create a new sales ecosystem that could be both efficient and customer-centric. Nevertheless, successful AI integration needs continuous learning, careful preparation, and a commitment to preserving the human element in sales interactions.

Dhunicorn 0 Comments
Oct 10 2023
Embracing the Hybrid Workspace: A Technological Investment Perspective

With technological advancements, the corporate world has undergone a monumental transformation in recent times. In the last two or three years, our ways of working have undergone massive changes and many companies adapted and let their staff work remotely. Now that things are getting back to normal, many offices have concluded that working from home is manageable and convenient. Employees in the digital world are interested in working in a hybrid workspace. As we keep evolving, the hybrid workspace has emerged as a central model that connects the best talents with the tasks to be done in office work environments. In this modern corporate landscape, companies increasingly understand the significance of hybrid workspace, creating new strategies with tech investments that enhance productivity, empower seamless collaboration, and foster a culture of innovation. The central role of the hybrid workspace involves offering employees the flexibility to work anywhere they like, be it from the office, their homes, or other remote locations. In this article, let us study the benefits of embracing the hybrid workspace from a technological investment perspective.-

 

Productivity

Expecting essential productivity in a hybrid setting can be sometimes challenging. Employers would want their people to be as productive as they would be in their office. Investing in some productivity-increasing technologies that enable time management, task tracking, and performance analytics can help companies monitor and boost productivity levels. In the market, there are several tools available to improve work patterns, helping both employees and managers identify ways to improve productivity. Let’s see some productivity-enhancing tools and their benefits.

  • AI-driven insights streamline complex processes.
  • Automated workflows reduce manual tasks.
  • Digital time-tracking tools enhance accountability.
  • Efficient online training boosts skill development.
  • Flexibility in work location optimizes time usage.
  • Goal-setting apps encourage focused objectives.
  • Performance metrics identify efficiency improvements.
  • Remote work minimizes commuting stress.
  • Task management apps prioritize daily goals.
  • Virtual team dashboards track collective progress.

 

Seamless Collaboration

The key function of the hybrid workspace depends on the productivity of teams to collaborate effectively irrespective of their physical locations. To attain seamless collaboration, companies need to invest in video conferencing platforms, robust communication tools, and project management software. Online solutions are available from tools like Microsoft Teams, Slack, and Asana. These tools have become indispensable for preserving real-time connectivity, enabling instant messaging, virtual meetings, and document sharing. By adopting these tools, companies can also enable their employees to collaborate seamlessly to share innovative ideas safely. Companies must not only provide the right tools. Certain guidelines and processes should be involved so everyone can collaborate with engaging and seamless work. Let us see some collaboration-enhancing tools and their benefits.

  • Centralized cloud storage ensures easy data access.
  • Collaborative document editing boosts idea refinement.
  • Cross-functional collaboration fuels innovation.
  • Global video conferencing bridges geographical gaps.
  • Instant messaging fosters quick decision-making.
  • Integrated project management tools streamline workflows.
  • Real-time virtual brainstorming across time zones.
  • Shared digital workspaces enhance remote teamwork.
  • Team chat platforms promote continuous communication.
  • Virtual whiteboards facilitate visual idea sharing.

 

Culture of Innovation

Culture can be assessed based on two components: connectedness and alignment. Recently, hybrid work was able to provide an opportunity to build a culture differently. Managers used to worry that remote workers’ performance would suffer because of distractions from working offsite but what happened was the opposite. People had more time for deep tasks, and productivity increased. This is where innovation and creativity come in.

Innovation and creativity in the corporate world often thrive in situations that encourage the free flow of sharing ideas and employing diverse perspectives. Virtual brainstorming sessions, innovation management platforms, and design thinking workshops enable the ideation process smoother even when team members are geographically isolated. Some platforms provide virtual whiteboards and collaboration spaces that support in-person brainstorming sessions, fostering creativity and problem-solving skills. Let’s see some benefits of tools that encourage innovation.

  • Collaborative virtual spaces encourage idea-sharing.
  • Continuous learning platforms support innovative thinking.
  • Cross-disciplinary teams spark unconventional ideas.
  • Digital innovation hubs centralize creative resources.
  • Idea management platforms capture creative suggestions.
  • Innovation challenges engage employees in problem-solving.
  • Online idea contests drive employee participation.
  • Remote collaboration cultivates unique problem-solving.
  • Virtual brainstorming sessions yield inventive solutions.
  • Virtual innovation workshops inspire diverse thinking.

 

Data Security and Privacy

The entire hybrid workspace faces new challenges based on data security and privacy. Employees and employers are uncertain as to the expectations related to their privacy in the hybrid work setup, as well as how they might protect proprietary and firm data.  If companies invest in cybersecurity measures, file-sharing solutions, and end-to-end encryption, it is essential to safeguard sensitive data. Moreover, multi-factor authentication mechanisms and virtual private networks also play a key role in protecting digital properties and upholding compliance with current data protection rules and regulations. Let’s see some benefits of tools that support data security and privacy.

  • Biometric authentication enhances user security.
  • Compliance monitoring tools uphold privacy regulations.
  • Cybersecurity training ensures data protection awareness.
  • Data encryption secures confidential information.
  • Multi-factor authentication strengthens access controls.
  • Regular software updates prevent vulnerabilities.
  • Remote data wiping prevents device breaches.
  • Secure cloud storage minimizes data breaches.
  • Strong encryption safeguards sensitive data transmission.
  • Virtual private networks secure remote connections.

 

Employee Well-being

In a hybrid workspace model, employee well-being technologies and programs are also equally important to get the maximum results. A good employee well-being program cannot be beneficial if the company’s hybrid model is not properly set up.  Investing in introducing mental health apps, virtual wellness programs, and digital fitness platforms contributes to a holistic approach to employee well-being. These technologies promote boost morale, and work-life balance, and demonstrate an organization’s commitment to the well-being of its personnel. Let’s see some benefits of tools that encourage employee well-being.

  • Digital mindfulness tools reduce stress.
  • Digital relaxation techniques ease remote work pressures.
  • Employee assistance platforms provide counselling resources.
  • Fitness tracking apps promote physical well-being.
  • Flexible work arrangements improve work-life balance.
  • Mental health apps offer confidential emotional support.
  • Online meditation sessions reduce workplace anxiety.
  • Remote work options enhance job satisfaction.
  • Virtual wellness sessions prioritize holistic health.
  • Well-being challenges encourage healthy habits.

 

Conclusion

The new reality for businesses is the adaption and transition into a hybrid workplace setup. Culture is emerging, leading to modern and unconventional ways of doing business. In the corporate model of hybrid workspace, technology is the key player that bridges the gap between digital and physical work environments. Strategic investments in collaboration, productivity, communication, innovation, security, and well-being technologies are instrumental in ensuring the success of this new work pattern. As companies continue to navigate the complexities of the model of hybrid workspace, they proactively embrace and leverage technology for better positioned to drive growth, enhance employee satisfaction, and stay competitive in an ever-evolving global corporate world.

Dhunicorn 0 Comments
Sep 7 2023
Top 10 Small Business Tech Trends

In today’s tech-paced digital era, small businesses in the world are increasingly adopting modern digital technologies to improve productivity, drive growth, gain a competitive edge, and modernize business processes. With advancements in various digital technologies, companies are presented with tremendous opportunities to advance the quality of customer services, streamline business operations, and scale their productivity. In this article, let us explore the top 10 small business tech trends that are revolutionizing the way companies in the world perform.

 

  1. Cybersecurity or can we use ‘Zero-trust cybersecurity’?

As cyber threats are evolving everywhere in the digital world, it is essential for small businesses to focus on cybersecurity measures. ‘Zero trust’ is a method using the idea of ‘never trust, always verify’. This technology uses a zero-trust approach that involves multifactor authentication, SSO, and SAML plus other advanced identity and access management tools.  

Training employees on data protection, implementing robust security protocols, and using advanced encryption technologies will support and confirm the safety of sensitive information to build trust with customers. To add, cybersecurity also:

  • Ensures privacy and confidentiality of information.
  • Prevents financial losses and reputational damage.
  • Protects sensitive data from unauthorized access.
  • Safeguards against cyber threats and attacks.
  • Supports compliance with regulatory requirements.
  • Minimizes compliance and security costs
  • Gives consumers confidence in business

 

  1. Social Media Marketing

Gradually, social media platforms have captured a prominent place in marketing, as they play as powerful marketing tools for small businesses. Staying abreast of the latest social media marketing trends such as video marketing, TikTok, AR, social commerce, influencer marketing, etc. can help businesses reach their peak in the digital world by posting various types of content to engage with customers, companies run targeted advertising campaigns. The power of social media platforms:

  • Enables cost-effective marketing with measurable results.
  • Expands brand reach to enhance brand visibility.
  • Facilitates targeted advertising to specific demographics.
  • Fosters customer engagement and builds brand loyalty.
  • Provides real-time feedback for immediate campaign adjustments.
  • Expands local targeting that helps reaching targeted audience

 

  1. Internet of Things (IoT)

The Internet of Things (IoT) is a revolutionary digital approach and it transforms the way small businesses operate and the functions of digital gadgets and devices. In fact, one cannot understand digitalization without IoT. Whether it is a Multinational company or a start-up, IoT knowledge is required to survive the competition. By connecting digital devices, gadgets, and computers, companies can:

  • Enable remote checking and control of devices and gadgets.
  • Enhance automation and efficiency in various industries.
  • Enhance overall connectivity and communication capabilities.
  • Improve decision-making through real-time data analysis.
  • Optimize resource utilization and reduces energy consumption.

 

  1. VR and AR

Virtual Reality (VR) and Augmented Reality (AR) technologies play an important role in developing marketing functions of small businesses, providing immersive experiences to customers. They have modernized digital methods by means of interactive environments, immersive digital experiences, engagement, and simulation. With the support of these technologies, companies can run marketing campaigns with product demonstrations, virtual tours, and training programs. VR and AR can:

  • Create immersive and interactive user experiences.
  • Enable virtual product demonstrations and prototyping.
  • Enhance training and education through realistic simulations.
  • Enhance visualization and data analysis in various fields.
  • Support remote collaboration and teleconferencing.
  • Can complement the real-world environment by draping digital objects onto it and upgrading its functionality
  • Provides a more engaging environment

 

  1. Superapps

Super apps link multiple business services in a single platform to allow seamless communication. These apps provide a set of functions, empowering customers to have access to several other niche apps. Super apps can:

  • Enable easy payment and financial transactions within the app.
  • Enhance convenience and efficiency in daily tasks such as payment, messaging, or service requests
  • Facilitate personalized recommendations and tailored experiences.
  • Provide a seamless and combined user experience.
  • Provide a wide range of services in a single platform.

 

  1. 5G Technology

The business implications of 5G technology are growing constantly. 5G networks are the modern generation of mobile connectivity providing faster speeds and lower latency than the recent past. With the adoption of 5G technology, companies enjoy significantly faster data transmission speeds. According to studies, 5G promises the next-level advancement in data transfer, which revolutionize the areas such as remote work, autonomous vehicles, and smart cities. With the support of 5G, companies can:

  • Enable autonomous vehicles and remote surgery capabilities.
  • Enable real-time communication and seamless connectivity.
  • Enhance virtual and augmented reality experiences.
  • Gain faster data transfer for enhanced productivity.
  • Support IoT and facilitates smart city development.

 

  1. Cloud Computing 

Cloud computing is one of the greatest technologies that drive growth. Before cloud computing, companies used to purchase and maintain their own servers containing just enough space to inhibit downtime and outages and maintain peak traffic volume.  As every technology is getting updated, cloud computing supports the need for storing data in business. Smaller tech businesses are gradually opting for cloud computing to improve their business functions by securing their data. As a wave in the business world, cloud computing:

  • Enables remote collaboration and data accessibility.
  • Enhances data backup and improves recovery capabilities.
  • Facilitates rapid deployment and software updates.
  • Provides scalable and flexible computing resources.
  • Reduces infrastructure costs and IT maintenance efforts.
  • Helps businesses to execute more effective and less costly solutions which don’t require expensive hardware

 

  1. Management Tools 

Managers are always overloaded with various types of work-related responsibilities. As the saying goes, not all tasks are equal and not all teams and managers can use only one methodology. As they have to stay ahead of the competition, the project managers have to deal with a growing list of tasks and responsibilities. Here, work management tools come to help them to:  

  • Enable real-time monitoring and performance tracking.
  • Enhance project planning and task management capabilities.
  • Facilitate effective team communication and collaboration.
  • Improve efficiency to streamline business operations.
  • Provide data-driven insights for informed decision-making.

 

  1. Unified Technology Platforms

With unified technology platforms, small businesses have been performing several functions on one platform.  This permits a unified integration and data exchange between tools.  Some of them are accounting, administration, sales, marketing, human resources, and business analytics.  Unified software platforms make it easy for small business owners to organize their business functions and marketing content to collaborate with a dispersed team. These platforms:

  • Enhance data sharing and collaboration across departments.
  • Integrate disparate systems for a seamless workflow.
  • Provide a centralized view for holistic business management.
  • Streamline IT infrastructure and reduces complexity.
  • Support cross-platform compatibility and interoperability.
  • Provides an efficient and consistent customer experience

 

  1. Data Analytics

As businesses are now going online, there is a growing need for online databases and reports because ‘Data’ is one of the most valuable assets for businesses.  Hence, companies are becoming increasingly interested in business analytics to assess the performance of their online marketing channels. The power of data analytics:

  • Enables targeted marketing and personalized customer experiences.
  • Enhances operational efficiency and process optimization.
  • Identifies patterns and trends for predictive analytics.
  • Supports data-driven innovation and competitive advantage.
  • Unlocks actionable insights for informed decision-making.

 

Conclusion

The fast development in digital technology and advancement in business functions are reshaping the landscape of small companies, providing entrepreneurs with numerous opportunities to grow and succeed. By adopting the above 10 tech trends, small businesses can develop new business strategies to perform well in the market. As digital technology continues to evolve, it is essential for every entrepreneur to stay ahead and leverage these digital innovations to unlock their full potential.

Dhunicorn 0 Comments
Sep 7 2023
Pros and Cons of Integrating IoT into Your Business Strategy

The Internet of Things (IoT) has created several major transformations and has set new trends in digital life. It is a trending business technology that connects all digital gadgets, devices, and technologies in one powerful approach. Different types of digital devices are interconnected in the IoT. Unexpectedly, we never realized that these devices virtually surround us in major interactions. It has become a common thing that most companies to use IoT in their business life. In this article, let us go through and learn the pros and cons of the Internet of Things (IoT).

The major pros of IoT

The Internet of Things enables companies with several advantages and has a number of advantages to offer practically in any area we can think of. Let’s learn some of its advantages here below:

 

Easy Communication
The key advantage of IoT is that it encourages communication between devices and allows companies to control and automate taxes daily or how about- IoT ecosystem delivers the protocols and infrastructure required to transport data from devices to real-world applications. Machine-to-machine connections support IoT applications that will help companies to obtain:

  • Automated communication for streamlined processes and reduced errors.
  • Efficient communication between supply chain partners for smoother operations.
  • Enhanced collaboration and coordination across teams and departments.
  • Improved customer communication and engagement through personalized interactions.
  • Real-time data exchange for instant decision-making.
  • Remote monitoring and control of devices and operations.
  • Seamless device-to-device connectivity for efficient operations.

 

Business Benefits 
With the support of IoT, companies can explore new business opportunities apart from direct revenue. IoT plays a major role in collecting data from the network and applying advanced analytics to discover business insights and opportunities. IoT devices predict the needs of interests of customers and help companies to gain:

  • Data-driven insights for informed business strategies and decision-making.
  • Enhanced operational efficiency and cost savings.
  • Improved customer satisfaction through custom-made experiences.
  • Increased competitiveness through differentiation and market positioning.
  • New revenue streams through innovative IoT-enabled products and services.
  • Predictive maintenance to reduce downtime and optimize resource usage.
  • Streamlined supply chain management for improved inventory control and logistics.
  • Helps gather big volumes of user-specific data employed for enhancing business strategies, refined pricing, targeted advertising, and other management activities

 

Increased Productivity
Increasing productivity is the most important step in the profitability of any business. Ordinary tasks can get done instantly and in effect, human resources can be more focused on bigger tasks, which require personal skills. IoT enables companies to increase productivity with just-in-time employee training and labour efficiency, reducing the mismatch of skills. With several benefits of IoT, companies gain:

  • Automated processes to reduce manual effort and human error.
  • Collaborative tools and remote access for flexible work environments.
  • Data-driven insights for continuous process improvement.
  • Efficient resource allocation and task management.
  • Just-in-time training for improved employee skills and performance.
  • Real-time monitoring and analytics for optimized workflows.
  • Seamless integration of systems and applications for streamlined operations.
  • Minimized number of workers, which results in lower business operations costs

 

Lower operating costs
IoT technology can be cost-effective because it helps companies enhance their workflows and lower operating costs by providing real-time data. IoT devices simplify management within different departments across the whole business structure. For example (or remove ‘for example’) Smart devices can track, monitor and control usages and get the benefits of:

  • Energy management systems for reduced utility expenses.
  • Improved inventory management to avoid overstocking and stockouts.
  • Optimized resource usage to reduce wastage and inefficiencies.
  • Predictive analytics for cost-effective supply chain management.
  • Proactive maintenance to avoid costly breakdowns and repairs.
  • Process automation for reduced labour and operational costs.
  • Remote monitoring and control to minimize onsite visits and travel costs.

 

The major cons of IoT

The Internet of Things also creates a significant set of disadvantages. Let’s learn some of the IoT disadvantages here below:

 

Complexity
The technical advancements and improved user experience have created a lot of drawbacks to IoT. The methodical resources in an organization that are capable to handle IoT’s complexity are limited, and growing those resources might cost a lot. This makes the entire process of integrating IoT into business functions more complicated. Let’s see some of the most complexities here below:

  • Complexity in handling and analysing large volumes of data.
  • Increased complexity of network infrastructure and data management.
  • Integration challenges due to diverse devices and protocols.
  • Potential compatibility issues between different IoT systems.
  • Potential disruptions in operations due to technical issues or failures.
  • Technical expertise required for setup and management.
  • Training needs for employees to adapt to IoT technologies.
  • Complexity in combining IoT data preparation with more organized resources, such as CSV files

 

Security and data privacy challenges
Although security and data privacy is a high priority, IoT devices are always facing risks. Inadequate security measures are one of the most prevalent drawbacks that disable the development of IoT. Companies should be aware of protecting devices from physical tampering, internet-based software attacks, network-based attacks, and hardware-based attacks. Without the right strategies, companies may face various challenges such as:

  • The complexity of implementing robust security protocols for IoT systems.
  • Specific compliance with data protection regulations and legal requirements.
  • Difficulty in securing IoT devices with limited computing resources.
  • Lack of standardized security measures across IoT devices.
  • Privacy concerns regarding the collection and usage of personal data.
  • Risk of data breaches and unofficial access to sensitive data.
  • Vulnerabilities to cyber threats and hacking attempts.
  • Disastrous, expensive, and tragic consequences such as loss of corporate confidentiality, thefts or product sabotage, etc.

 

Hidden technology
Although IoT devices perform simple tasks, there’s a lot of complex technology involved in the process of how IoT functions. If the IoT devices that provide essential data to any workflow work inaccurately, they could negatively affect every process connected to it. Hidden technology may bring:

  • Challenges in diagnosing and resolving technical issues.
  • Complexity in integrating IoT devices with existing infrastructure.
  • Dependency on the complex underlying technology for IoT functionality.
  • Difficulties in troubleshooting and identifying faults in interconnected devices.
  • Limited visibility into the inner workings of IoT systems.
  • Need for specialized expertise to manage and maintain hidden technology.
  • Potential disruptions in operations due to hidden technical failures.

 

Costly and Time-consuming
It is highly expensive to deploy IoT devices and time-consuming to install them. There are devices to purchase and install, manpower to set it up, others to incorporate them into the network, and support calls to the manufacturer. However, companies want to transform their business functions with cost-effective approaches and quick results. So organizations face various issues such as:

  • Financial risks associated with failed or unsuccessful IoT implementations.
  • High upfront costs for purchasing and deploying IoT devices.
  • Investment in infrastructure upgrades to support IoT systems.
  • On-going maintenance and support costs for IoT infrastructure.
  • Potential complexities in scaling up IoT deployments.
  • Time and resources that need for installation and configuration.
  • Training and re-skilling costs for employees to adapt to IoT technologies.

 

Conclusion
As the Internet of Things has made business functions easier and more advanced, we must analyse the pros and cons of this technology. It’s high time to study how both effective and ineffective this technology is. To mitigate its drawbacks and to make this technology perform best for the advancement of the corporate world, companies should decide how intelligently they use the dominance of IoT-enabled innovative products.

Dhunicorn 0 Comments
Aug 10 2023
Advertising vs. Marketing vs. Public Relations: Understanding the Key Distinctions

If we look at marketing, advertising, and public relations merely, they look like the same strategies, but there are differences in each aspect. Many people tend to get confused with these three but then the main difference between them is the key focus. Public relations focus is on nurturing relationships between an individual or companies and the public for the client’s image benefit. Marketing, on the other hand, highlights the promotion of services and products for the purpose of profit. Advertising is a medium used by marketers to acquire customers.

Companies with a greater understanding of the nuances between advertising, marketing, and PR can develop a successful marketing strategy. Companies are developing marketing and advertising campaigns to enhance brand awareness and promote products or services. However, public relations support companies to build and improve their reputation with the public. In this article, let’s analyze the key distinctions of these three strategies by understanding different types of marketing, advertisements, and public relations in detail.

Types of marketing

In today’s corporate world, marketing, which can reach a customer’s overall perception of a business, should be done through various digital marketing activities such as SEO & Content Marketing, Social Media Marketing, Email Marketing and Paid Advertising, and offline activities such as Business Cards, Pamphlets, Tradeshows, Workshops, Canvassing, Classified Ads and more. Marketing defines how a company makes its audience mindful of its products, services, and brands. Concurrently, both online and offline activities are essential to gaining brand awareness and growth. Here, you will come across different types of marketing and related features so that you can understand the variance.  

Content marketing:

  • Valuable content creation and distribution.
  • Educating the target market about the industry and company.
  • Focus on blog posts and online materials.
  • Strategic approach to creating relevant content.

Inbound marketing:

  • Tailored experiences for individual consumers.
  • Chat boxes for customer service engagement.
  • Attracting, delighting, and engaging customers.
  • Personalized approach to amuse, attract, and engage the target audience.

Social media marketing:

  • Utilizing channels like Facebook, Twitter, and
  • Reaching the target audience through social media.
  • Paid advertising on social media platforms.
  • Engaging and connecting with customers online.

Digital marketing:

  • All online marketing efforts.
  • Includes social media, inbound, and content marketing.
  • Focus on search engines, email, and websites.
  • Strategies to reach and engage the online audience.

Traditional marketing:

  • Non-digital marketing campaigns
  • Print, broadcast, phone, mail, and
  • Offline advertising channels.
  • Traditional methods of reaching customers.

Marketing communication:

  • All messages and media are used by the company.
  • Branding and advertising elements.
  • Coordinated marketing communications.
  • Engaging and effective communication strategies.

Visual marketing:

  • A key part of marketing campaigns.
  • Use of colors, fonts, logos, and photos.
  • Instant and powerful communication tool for businesses
  • Connecting with customers through visuals.

SMS marketing:

  • Promotional messages via text.
  • Short Message Service (SMS) marketing.
  • Increase brand awareness, web traffic, delivers news updates, and run promotions
  • Direct communication with customers.

Email marketing:

  • Cost-effective marketing approach to market services and products and reach customers
  • Reaching customers through email campaigns.
  • Building trust and increasing website visits.
  • Producing leads and driving sales through sending emails.

Search engine marketing:

  • Strategies to increase visibility on search engines.
  • Focus on optimizing the website and content.
  • Paid advertising on search engine platforms.
  • Increasing web traffic through SEO techniques.
  • Reaches consumers at the right timing: when they are exploring new information

Types of advertising

As you can notice where you go, there are many types of advertising both online and offline. Whether you have just started your business or want to promote your existing business, advertising plays a key role in promoting your products and services, especially after developing your new website. There are several approaches to reaching target audiences, driving sales, and enhancing brand awareness through physical and digital advertising methods. This is when organizations acquire spaces on a billboard, magazines, websites, and others to promote their services and products.

To help you understand the difference between advertising and the other two segments, we’ve categorized the types of advertising and their related benefits and features. Once you understand the following points of each type of advertising, you’ll be best equipped to differentiate advertising from marketing and public relations.

Digital advertising:

  • Paid ads on online platforms such as mobile apps and internet publications
  • Targeted advertising on social media, websites, etc.
  • Reaching online audience effectively.
  • Maximizing exposure through digital channels.

Traditional advertising:

  • Print, billboard, broadcast ads, and other public surfaces like postal mail or bus stops.
  • Offline advertising methods.
  • Reaching the audience through traditional media.
  • Broad exposure in non-digital spaces.

Ambient media:

  • Unconventional advertising methods.
  • Encourages consumer participation.
  • Alternative ways to engage with the audience.
  • Innovative and creative advertising approaches.

Product placement:

  • Branded products in TV shows and films.
  • Paid placement for brand exposure.
  • Integration of products into entertainment content.
  • Subtle promotion through visual media.

Out-of-home advertising:

  • Ads displayed in public spaces.
  • Billboards, bus stops, transit ads.
  • Broad exposure in high-traffic areas.
  • Catching the attention of passers-by.

Influencer advertising:

  • Enables businesses to collaborate with influential individuals.
  • Leveraging their reach and credibility.
  • Promoting products or services through influencers resulting in increased exposure
  • Targeted marketing through influential personalities.

Native advertising:

  • Ads designed to match the platform’s form and function.
  • Seamlessly integrating into the user experience.
  • Blending with editorial content for better engagement.
  • Non-disruptive advertising approach.
  • Boosts conversions and increases CTR (Click-Through Rate)

 

Display advertising:

  • Combination of images, texts, and a URL that links to a webpage
  • Placing visual ads on mobile apps or websites.
  • Banner ads, pop-ups, and overlays used
  • Targeted advertising based on user behavior.
  • Maximizing brand visibility in digital spaces.

Video advertising:

  • Ads displayed within online video content.
  • Pre-roll, mid-roll, and post-roll ads.
  • Engaging and captivating video ads.
  • Reaching the audience through popular video platforms.
  • Delivers story and information, improve sales, and creates a thrill

Mobile advertising:

  • Ads specifically targeted to mobile devices.
  • In-app ads, mobile banners, and SMS ads.
  • Location-based targeting for better relevance.
  • Reaching audience on their mobile devices.

 

Types of public relations

PR helps an organization build a good relationship with its public and preserving a positive relationship with stakeholders is vital to the success of every brand. These are strategies and techniques related to delivering information about the company or an individual to the public. If the public perspective of a company is undesirable, people will no longer be interested in using its products or services. From the following categorizations, you will know many different types of public relations and various areas of focus.

Strategic communications:

  • Coordinated efforts supporting business objectives.
  • Aligning communications with organizational priorities.
  • Setting communication objectives and strategies.
  • Supporting overall business goals through PR.
  • Specialized approach to issuing and receiving information
  • Best message delivered through right channels, to timing, and right people

Media relations:

  • Building relationships with media outlets.
  • Sending press releases and pitching interviews.
  • Generating media exposure for companies.
  • Collaboration with journalists for effective coverage.

Community relations:

  • Direct engagement with the local community.
  • Two-way communication with the audience.
  • Obtaining feedback and highlighting benefits.
  • Coordinating events and fostering community relationships.
  • Emphasizes on reputation and brand within a particular community

Internal communications:

  • Focus on employee engagement and satisfaction.
  • Keeping staff informed and motivated.
  • Understanding employee needs and concerns often done through Q&As, meetings, newsletters, and check-ins
  • On-going programs for effective internal communication.
  • Exchanging of information within teams, departments and team members

Crisis communications:

  • Preparedness for managing crises.
  • Clear crisis communications plan in place.
  • Maintaining reputation during challenging times.
  • Building strong relationships with stakeholders and media.
  • Lessens financial and reputational damages

Public affairs:

  • Building relations with politicians and decision-makers.
  • Lobbying and involvement in legislative processes.
  • Providing assistance in regulatory compliance.
  • Enhancing corporate communication and trade associations.
  • Deals with matters affecting the public directly

Online reputation management:

  • Monitoring and shaping online perception.
  • Managing desirable online presence and brand reputation.
  • Responding to online feedback and reviews.
  • Proactively managing online reputation.

Corporate communications:

  • Managing communication with stakeholders.
  • Maintaining a positive public image.
  • Sharing corporate news and updates.
  • Making productive communications with the public and shareholders.
  • Organization’s way to increase and strengthen its position
  • Efforts between organization and society to spread kindness and image propagation

 

Event management:

  • Planning and coordinating public events
  • Organizing events for organizations.
  • Creating memorable experiences.
  • Enhancing brand visibility and engagement.
  • Detail-oriented logistics with engaging aesthetics

Investor relations:

  • Communication with shareholders and investors.
  • Providing financial information and updates.
  • Building relationships with potential investors.
  • Transparency in financial communications.
  • Strongly integrated with the organization’s departments such as legal, accounting, and top executives

Conclusion

Hopefully, this article must have helped you understand the difference between PR, marketing, and advertising. Although they have a lot of connections and overlapping goals, each strategy is different with various particular priorities. Shortly saying, marketing supports to promoting a product or service in a particular group of audience and market while Public Relations support a brand to maintain a public image. And Advertising supports to promoting a brand with the support of effective content. Each segment supports to promoting a product or service in its unique way.

 

Dhunicorn 0 Comments
Aug 8 2023
Top 10 Benefits of Chatbots in Business

Customer communication is the most important aspect whether for sales, marketing, or customer support. If your communication is not delivering smooth engagement, customers would not be attracted to your products or services.

AI-powered chatbots come here to make customers feel as if they communicate with a related team. In a nutshell, it is a section of the software, which helps in conversations in normal language via audio or text. Companies use chatbot technology to conserve three things: money, time and labor. According to studies, 35% of consumers want that companies should use chatbots to improve their communication technics and strategies and deliver a better customer experience. Chatbots are quite advanced forms of communication to ensure many advantages for customers.  Here are 10 different benefits of a chatbot that can positively impact customer communication and support increased sales and marketing.

 

  1. Customer Engagement

Chatbots help companies to implement the next level of customer engagement services. Given the fact that they are automated, they don’t have breaks like the conventional way humans perform. With conversational data, AI chatbots perform customer engagement based on the user data and make it more interactive. Chatbots are smart enough to understand customer responses based on their previous chat history. 

Key benefits

  • Availability 24/7 ensures immediate customer assistance.
  • Chatbots offer personalized recommendations based on user preferences.
  • Chatbots provide consistent and reliable support.
  • Continuous learning improves chatbot responses over time.
  • The conversational approach creates personalized experiences.
  • Instant responses enhance customer interaction.
  • Interactive chatbot experiences increase customer loyalty.
  • Natural language processing improves conversational flow.
  • Proactive engagement boosts customer satisfaction.
  • Convenient for approaching international markets as you need not to hire fluent-speaking customer service agents from abroad
  • Quick resolution of customer queries improves engagement.

 

  1. Lead Generation   

Bots are highly powerful at engaging customers with personalized messages throughout their chat journey. Every company can use chatbots for lead generation to guide and motivate customers in making quick decisions. Chatbots can use tailor-made questions to influence the visitors for increasing lead generation, making sure higher conversion rates.  It can help you to become available to website visitors 24/7 and 64% user respondents in a survey conducted  are claiming it is their best feature.  We can use chatbots for both better lead qualification and healthier lead nurturing.

Key benefits

  • Automated lead scoring identifies high-value prospects.
  • Capture lead information efficiently and effectively.
  • Capture valuable data for lead profiling and segmentation.
  • Chatbots assist with lead qualification questions and criteria.
  • Chatbots qualify leads through automated conversations.
  • Engage leads with personalized content and recommendations.
  • Offer interactive experiences to engage and convert leads.
  • Promptly follow up with leads to nurture the relationship.
  • Provide targeted offers and incentives to convert leads.
  • Seamlessly integrate with CRM systems for lead management.

 

  1. Consumer Data

Chatbot is one of the best tools for tracking the patterns of purchasing and analyzing consumer behaviors by observing user data. Consumer data can help businesses market their products or services effectively. Likewise, companies can use bots to collect feedback through simple questions and update products or advance the designs of websites. Chatbots can also be customized to give incentives in a form of discounts or special offers in exchange for participation in the surveys of customers and is surely an effective way to encourage  feedback.

Key benefits

  • Examine customer data to classify the latest trends and patterns.
  • Chatbots gather valuable customer insights and preferences.
  • Data collected improve personalization and targeting.
  • Enable a better understanding of customer behaviors and needs.
  • Find out areas of customer-related issues for further improvement.
  • Improve customer segmentation and create targeted campaigns.
  • Optimize marketing strategies with data-driven insights.
  • Personalized recommendations increase cross-selling opportunities.
  • Provide data-driven recommendations and product suggestions.
  • Segment customers based on preferences and demographics.

 

  1. Customer Expectations  

Chatbots fulfil the customer expectations of fast responses to make complaints or queries. Since chatbots are gradually getting updated with digital technologies and data science, companies can use them to automate some of the repetitive conversations and fulfil customer expectations. By nature, customers prefer quick replies from support teams when they approach them with basic questions. But since many support teams are handling a huge volume of queries, it’s not always possible to answer in an instant, regardless of how simple the inquiries are. Chatbot is the answer to this problem as it can handle a large number of queries at once with quicker response.  Some of the tips to use chatbots to meet customer expectations are proactive, personalized experience, and effective targeting.

Key benefits

  • Adapt to customer communication preferences and channels.
  • Expect customer wants and offer support.
  • Chatbots provide 24/7 instant support, meeting expectations.
  • Enhance customer trust and satisfaction through reliable support.
  • Improve response times and reduce customer wait periods.
  • Multichannel support ensures a seamless customer experience.
  • Personalize interactions to meet individual customer needs.
  • Provide accurate and consistent information across channels.
  • Real-time assistance ensures timely issue resolution.
  • Seamlessly transfer customers to human agents if needed.

 

  1. Increased Sales

With the support of chatbots, it is possible for every company to increase sales. Bots can turn every website visitor into a new customer by disclosing your new products and related discounts to attract potential clients. Moreover, bots also proactively send notifications to every website visitor to motivate them to purchase your products or services. Chatbots can also guide clients to find what they are in search for by the use of a ‘retail chatbot’ to highlight personalised product recommendations and assist in placing an order. In a prediction by ‘Juniper Research’, it was said that transactions made through chatbots would reach $112 billion by this year in ecommerce sales only.

Key benefits

  • Evaluate customer data to recognize cross-selling opportunities.
  • Chatbots drive conversions by guiding customers through purchases.
  • Collect feedback to improve products and sales processes.
  • Offer discounts and promotions to encourage immediate sales.
  • Offer personalized incentives based on customer preferences.
  • Personalized product recommendations increase upselling opportunities.
  • Provide detailed product information and answer customer queries.
  • Provide seamless integration with e-commerce platforms.
  • Remind customers of abandoned carts and encourage completion.
  • Simplify the checkout process for a frictionless experience.

 

  1. Cost-effective Approach

A cost-effective approach is another essential benefit of using chatbots. It can automate everyday tasks that can include everything from answering questions to making suggestions, scheduling appointments and answering FAQs. With this capability, your customer support team can focus on more complex queries. And also, implementing a chatbot is much cheaper than recruiting customer service employees to deal with repetitive tasks.

Key benefits

  • Automate repeated tasks, letting agents concentrate on complex issues.
  • Chatbots reduce customer service costs by automating tasks.
  • Cut down on training costs by automating onboarding processes.
  • Eliminate the need for physical call centers or large support teams.
  • Handle multiple inquiries simultaneously, saving resources.
  • Minimize the need for extensive human customer support.
  • Provide cost savings compared to traditional customer service methods.
  • Reduce average handling time and improve operational efficiency.
  • Reduce staffing requirements for basic support queries.
  • Scalable solutions that handle increasing customer volumes without significant cost increases.

 

  1. Scalability

If companies have the scalability of support, they can handle any traffic surge successfully. Scalability is an important factor in the success of any business and with Chatbot, business can conveniently scale up or down by allowing businesses to adapt to changes in customers’ demands and add other features as required.

Chatbots can help companies manage conversations during peak hours without adding more data analysts since AI-powered bots can handle thousands of conversations and answer each question immediately.

Key benefits

  • Adapt to fluctuating customer demand and traffic patterns.
  • Add new functionalities and expand capabilities as needed.
  • Chatbots handle high volumes of inquiries effortlessly.
  • Easily accommodate growing customer demands without delays.
  • Effortlessly serve customers across various channels and platforms.
  • Ensure consistent service quality regardless of customer volume.
  • Manage multiple conversations concurrently without losing productivity.
  • Provide instant responses even during peak hours.
  • Scale support operations without significant resource investment.
  • Seamlessly integrate with existing systems to handle increased demand.

 

  1. Fewer Bounce Rates

Any website’s bounce rate depends on how captivated the users are in browsing the content of your website. It is the percentage of visitors that stop browsing your website after opening the first page. If you have a website with high bounce rates, it will show that potential customers cannot find out what they were looking for and leave it to your competitors. Here, a chatbot can help you by popping up when a visitor is about to leave. Bots can help lessen the bounce rates by engaging to your audiences and at the same time, helping them navigate. This engagement keeps people on your website in a longer time which can also help in the SEO improvement and customer care.

Key benefits

  • Capture visitor attention and encourage longer sessions.
  • Engaging in chatbot interactions reduce website bounce rates.
  • Guide visitors through the website and highlight key offerings.
  • Identify and address common reasons for bounce rates through chatbot interactions.
  • Offer interactive experiences to captivate and retain users.
  • Offer personalized recommendations to keep visitors engaged.
  • Optimize user experience based on chatbot analytics and feedback.
  • Proactively assist visitors in finding what they are looking for.
  • Provide relevant information to reduce user frustration and bounce rates.
  • Utilize persuasive techniques to encourage exploration and engagement.

 

  1. Customer On-boarding Process  

Every customer likes to be guided and pampered. It doesn’t matter how powerful and informative your guidance is. They will still feel reluctant to find the information on their own. So chatbot can help customers understand what a customer has or hasn’t found in order and we can use this information to smartly push customers along with the conversions.  Chatbots are multifunctional for a variety of sales and marketing tasks, generating leads, answering queries in a personalized manner, brand customization and these traits make chatbots useful in the customer onboarding process.

Key benefits

  • Address user concerns and alleviate anxieties during onboarding.
  • Chatbots streamline onboarding with automated guidance.
  • Collect necessary information and preferences efficiently.
  • Educate users on product features and functionalities.
  • Offer interactive tutorials and guided tours for a smooth onboarding process.
  • Offer self-service onboarding options for user convenience.
  • Personalize onboarding experiences based on user profiles.
  • Provide step-by-step instructions and answer common queries.
  • Reduce onboarding time and ensure quicker product adoption.
  • Seamlessly transition users from onboarding to regular usage.

 

  1. Multilingual support

The most important aspect of implementing bots is that bots are available in many languages and there a number of reasons on why businesses should consider using a multilingual AI chatbot, most importantly if you have an international footprint.  So, no matter what kind of language your customer is most comfortable with, they can get proper support. You can program the bots into many languages according to your needs. This supports clients to describe their issues accurately and get useful support. By accommodating customers’ needs in their preferred languages, it will surely make their transaction experience better.

Key benefits

  • Chatbots offer language versatility for global customer reach.
  • Connect with customers in their mother tongues and favoured languages.
  • Enhance brand reputation as a customer-centric and inclusive organization.
  • Expand market reach by catering to different language-speaking demographics.
  • Improve customer satisfaction by offering support in native languages.
  • Overcome language barriers and improve accessibility.
  • Provide localized content and recommendations to diverse audiences.
  • Seamlessly switch between languages during conversations.
  • Serve customers in multiple languages effortlessly.
  • Support multilingual customer communities and forums.

 

Conclusion

Chatbots are gradually transforming customer communication in the corporate world. They are presenting new benefits to different aspects of companies be it sales, marketing, customer service, and customer engagement. Consequently, every company should have a plan to get the most out of bots to advance customer insights, lead generation, onboarding, and customer support scalability.  Prepare your company for the future with the support of Chatbots to start adding value to customer experiences. 

Dhunicorn 0 Comments
Jul 17 2023
Solid Strategies for Intensifying Your Professional Network

If you ask a professional how they have become highly skilled and financially strong, they would quickly say ‘My development is based on my contacts. Did you know? Building a diverse network can lead to gaining more innovative ideas and perspectives, according to a study conducted by Harvard Business Review. It is not about who you know, but how to appear interesting in the types of networks that can contribute to your personal and professional growth. 

Hence, every successful professional should have different types of connections that can guide and lead them to deliver potential results, according to their needs and wants. Whether you love connecting with new people or maintaining relationships with existing friends, networking is an essential part of your success. If you know the magic of intensifying your professional network, your career journey will bring a lot of proficient wonders.

Why Networking?

For a few, the word ‘networking’ can create uncomfortable and intimidating scenarios, not to mention the intimidation of small talk. But for others, it is a chance to release your social skills and engage with new people.  

According to a study conducted:

  • By LinkedIn, around 85% of all jobs are filled through the approach of networking.
  • By PayScale, people with strong professional networks are more likely to earn higher salaries.
  • By Virgin, networking can lead to new business opportunities, with 80% of professionals saying that networking has helped them grow their businesses
  • By the Academy of Management, networking can also improve job satisfaction and overall well-being
  • By Jobvite, networking through social media can be particularly effective, with 78% of recruiters finding their best candidates through social media.

Finally, networking is the most important approach that can deliver a series of career successes over time. Professionals should build and maintain strong professional relationships if they want to successfully reach their target. In this article, let’s meticulously focus on the top ten solid strategies for growing your professional network.

 

  1. Attending Networking Events

Networking is more than showing up, free drinks and snacks and exchanging business cards. Online or in-person networking conferences, webinars, and events will help get you to have connections with industry leaders. Every event can become an opportunity to build your professional relationship stronger because the key concept of any webinar is based on business development or management. Generally, business experts from different sectors participate in international business conferences. When you attend international networking events, you will have an opportunity to:  

  • Build long-term business relationships with industry leaders.
  • Connect with potential clients or partners.
  • Develop confidence in sharing your thoughts.
  • Discover new career opportunities.
  • Advance business communication skills.
  • Exchange business knowledge and new business ideas.
  • Meet experts for improving your branding.
  • Increase the visibility and credibility of your brands.
  • Learn about the latest industry trends.
  • Meet various professionals from around the world to expand your network.

 

  1. Personal Branding

Having a successful career is not only about performing well in your key domain but also advancing personal branding. In this case, you are marketing yourself to the world of professionals and you should highly consider the image you want to portray to the professional world, the messages you want to deliver, and what makes you standout from the rest.  If you want to set goals to reach the next level, you should have some strategies to promote personal branding, making yourself accessible to a wide range of professionals. The best way to build personal brands is to join networking because networking will provide you with confidential interpersonal connections that will help you gain traction. If you apply personal branding strategies to generate new contacts, you will also strengthen current contacts. What does personal branding do for you? It will:

  • Build trust and credibility with others.
  • Create a sense of personal fulfilment.
  • Establish a unique and memorable identity.
  • Expand networking opportunities and connections.
  • Foster business growth and opportunities.
  • Generate more leads and referrals.
  • Help to differentiate from competitors.
  • Increase visibility and industry recognition.
  • Open doors to new career prospects.
  • Strengthen professional reputation and authority.

 

  1. Contacting Former Workmates

As networking is a valuable tool for professional growth, one of the best places to start is with contacts you already know. If you have strong contacts in your previous position on good terms, you may also consider connecting with your former colleagues or even with your ex-boss. As you were co-working with them for years, your connections will become valuable when you share your present issues with them. When you have connections with them, you can:

  • Build and expand professional network.
  • They can represent you precisely as a reference
  • Enable knowledge sharing and career advice.
  • Enhance teamwork and problem-solving abilities.
  • Establish trust and strengthens relationships.
  • Facilitate personal and professional growth opportunities.
  • Generates leads and referrals for future work.
  • Increase job satisfaction and workplace engagement.
  • Learn about industry trends from a different perspective.
  • Provide industry and company updates and news.
  • Rekindle old connections and friendships.

 

  1. Joining Professional Organizations

Along with joining groups on any social media platform, you may also join professional organizations or associations in your field. In order to be an effective networker you need to hype up your interaction and social skills.  Meeting people within your profession will go much farther to achieving your networking goals than connecting online. Your connection can make it easier for you to contact people who know the ins and outs of your profession and have clear perceptions of what you can do. Joining professional organizations may land you to:

  • Have access to training and professional development.
  • Build long-term relationships with various experts.
  • Connect with potential clients or partners.
  • Learn leadership skills as you can gain insights from various industry leaders.
  • Discover new career opportunities in different industries.
  • Enhance your credibility and trust among executives, entrepreneurs, and innovators.
  • Expand your network with like-minded professionals.
  • Gain exposure and visibility of the latest industry minds.
  • Share knowledge and expertise in your area.
  • Have updated industry news and trends.
  • Enhances your resume by adding your participation in a professional association

 

  1. Partnerships

Partnership is the most important factor when it comes to developing professional networking. This includes connections with professionals from another field with the mission of expanding knowledge, nurturing partnerships, and improving your industry standing. To make this effective, you need to consider what you want, whom you want, and your preferred way of communication. Partnering with companies that align with your business needs will help you expand your business network. Every partner will guide you to move to different business functions, new technologies, and strategies. Partnerships will empower you to increase your reservoir of knowledge, expertise, and resources available to provide better products and reach the right audience. You may reap the following benefits if your partnerships work well. With the right partners, you will have the opportunity to:

  • Build long-term relationships.
  • Discover new resources and tools.
  • Enhance product or service offerings.
  • Expand your network and industry reach.
  • Expand your reach and visibility.
  • Find new growth opportunities.
  • Have access to new markets and clients.
  • Improve business processes and efficiencies.
  • Increase credibility and trust.
  • Share knowledge and expertise.-Ok for me

 

  1. Connection with the Alumni Association

As you surpass your University years of discovery, there will be a time when you will think about how you can contribute to society and to your industry.  Having a connection with your alumni association is one of the fantastic approaches to strengthening your professional network. Alumni networking is as simple as research, reaching out, and follow-ups whether in person or online. If you are the ones that need long-time relationships with professionals, alumni associations will play a key role in connecting them by networking events for members. Connecting with professionals who graduated from the same institution will support you to:

  • Build a sense of community and camaraderie.
  • Enable industry and company updates and news.
  • Enable lifelong learning and education opportunities.
  • Enhance communication and leadership skills.
  • Expand professional network and opportunities.
  • Foster mentoring and knowledge sharing.
  • Offer career development resources and advice.
  • Offer opportunities for personal and professional growth.
  • Provide access to job postings and leads.
  • Provide exposure to diverse industries and professions.

 

  1. Database

With a database of professional contacts that have names, emails, phone numbers, and other information, create a professional setting of your interests. These contacts may be your organization, members of other organizations, employees, executives, or any stakeholders. Creating these databases may help you get contact details for specific professionals when you need suggestions and mentoring. An enriched database with various contacts may:

  • Enable personalized and relevant outreach and follow-up.
  • Enable targeted outreach for networking and collaboration.
  • Enhance access to industry and company updates.
  • Facilitate sharing of resources and knowledge.
  • Generate leads and referrals for job opportunities.
  • Improve communication and relationship-building skills.
  • Increase productivity and time management skills.
  • Organize professional contacts and information efficiently.
  • Provide a centralized platform for tracking progress.
  • Offer a competitive advantage in the global job market.

 

  1. Joining Industry Groups

Every industry has groups that are highly useful in developing knowledge in a particular area. The right networking group can never go wrong in helping you establish connections and continuously learn from like-minded individuals. If you join these industry groups, you may find partnerships and professional contacts within the field. And also it will allow you to share your business strategies with others. Joining such groups can offer many benefits such as:

  • Boosting your personal and professional development.
  • Connecting with potential clients or partners.
  • Discovering new growth opportunities.
  • Enhancing your credibility and trust.
  • Exchanging industry knowledge and experiences.
  • Expanding your network and visibility.
  • Having access to new job opportunities.
  • Having access to new resources and tools.
  • Having updated industry news and trends.
  • Sharing knowledge and expertise.
  • Enhance your professional profile
  • Improvement of your personal branding
  • Increase your confidence by stepping out of your comfort zone

 

  1. Starting a New Networking Group

This is the best method of strengthening your professional network because you are a key player in this game. Networking is relevant to any type of business, may it be marketing, media, to the construction industry. Regardless of who you are and what your profession is, networking will surely make your business grow. You may develop your group by giving memberships to like-minded people. When you establish your networking group, you may conduct a series of conferences on different topics such as finance, marketing, or accounting. You can also become more connected with a lot of professional benefits as you can:

  • Create a professional community for unified growth.
  • Cultivate long-lasting relationships and friendships.
  • Enable mentorship and career development opportunities.
  • Enhance leadership and networking skills.
  • Expand the network with like-minded individuals.
  • Facilitate access to diverse perspectives and expertise.
  • Foster collaboration and knowledge-sharing opportunities.
  • Increase visibility and open doors to new opportunities.
  • Provide a platform for showcasing expertise and thought leadership.
  • Strengthen credibility and industry recognition.
  • Enables you to do market research that can give you a unique perspective

 

  1. Developing Social Media Contacts

If you want professional development, networking with others via various platforms of social media will become highly useful.  It allows you to interact with a wide range of professionals both locally and internationally. Social media channels remove geographical restrictions, allowing you to be in touch with a global base of customers and professionals.  Building a professional network can help you grow your industry knowledge. Every social media provides you with a great opportunity to develop your network to the next level. With social media contacts, you may also engage with other industry professionals that have unique skill sets. These people can also prove to be valuable long-term contacts by:

  • Building relationships with like-minded individuals.
  • Connecting with professionals globally.
  • Developing a professional online presence.
  • Discovering new job opportunities.
  • Engaging with potential clients or partners.
  • Enhancing personal branding and enabling advertising
  • Expanding their reach and visibility.
  • Increasing credibility and trust.
  • Sharing their expertise and knowledge.
  • Having updated industry news and trends.

 

Conclusion

Intensifying your professional network is not an easy process. Putting your effort into searching the database and collecting contacts are time-consuming tasks. With slow and steady efforts, you can start increasing your professional network. Professional networking is essential in building a relationship for expanding your business operations if you are an entrepreneur. Professional networking will also play a key role in finding a job if you are an executive. With strong professional connections, everyone will have an easy approach to growing in their career.

Dhunicorn 0 Comments
Jul 14 2023
Top 10 Tech Trends That Will Positively Influence Your Marketing Strategies

With ever-changing technology, companies are on the urge to discover new tech trends to market their brands. Today’s consumers see the importance of transparency, authenticity, and privacy compared to as before. Among a pool of technologies, they (or companies) must stay abreast of new tech trends that could positively influence their marketing strategies. It is essential for every company must rely on the latest tech trends to challenge their competitors. In this article, let’s explore the top ten tech trends that will positively influence the marketing strategies of any company. Find out how you can successfully apply these top tech trends to amplify your reach and engage with your customers in various ways. 

 

  1. Big Data and Analytics

With the technical support of big data and analytics, companies can handle real-time analysis of marketing activities across all channels more efficiently. Moreover, advanced analytics advances documentation, and customer retention, content planning, pricing decisions, boost performance, greatly benefitting businesses transitioning to digital processes.

Key Benefits

    • Customer insights for personalized marketing.
    • Identify trends and predict future behaviour.
    • Optimize ad targeting and campaign performance.
    • Brand awareness
    • Cost and time savings by augmenting marketing performance

 

  1. Social Media Management Tools

Social media management tools will support you to build an interactive online relationship with your customers. The process here involves social Media Managers applying their experiences and combine them with tools and services to produce a content, work with users, and assess performances. By publishing various types of content such as videos and blogs, you empower your customers with useful information about your products or services. If the videos you publish go viral positively, your company reputation will go higher with positive comments. 

Key Benefits

    • Analyze social media data for insights.
    • Engage with customers and build relationships.
    • Monitor brand reputation and customer sentiment.
    • Save time by outsourcing time-consuming work such as making content and scheduling posts
    • Get professional advice on specific areas like social media advertising
    • Advances social media growth by gaining more followers and engagement

 

  1. Search Engine Optimisation

If you have come across a topic about digital marketing techniques, definitely you have heard the term SEO. Search Engine Optimization (SEO) is a key function of digital marketing because people conduct trillions of searches every day. In simple words, an excellent SEO raises your online presence and has a big effect on quantity and quality because it is not only for attracting new customers. It also enables you to have a deeper business relationship with those customers because of the trust you have built with them. When you use different social media platforms, you must know secretes of publishing content with key terms. Use key terms of your business functions and website features in the content you publish so that people can find you when they do search. If your website is good on back and front ends, you will surely get a better traffic.

Key Benefits

    • Establish trust between you and your customers
    • Improve user experience and website performance.
    • Increase website visibility and traffic.
    • Target specific keywords and optimize content.

 

  1. Streaming Service

In today’s digital era, video marketing strategy is not anymore optional but a fundamental part in businesses being said that 87% of businesses are using video as their primary marketing tool and there’s a nearly 25% increase in utilization for the past two years. More and more people are turning their eyes toward streaming services for quenching their movie-watching thirsts.  Hence, companies need to reimagine their advertising strategy if they want to align with the customers that use streaming services, companies need to find innovative approaches to market their brands on these platforms. 

Key Benefits

    • Companies can present original content to new audiences.
    • This technology leverages data to personalize recommendations.
    • With this technology, we may partner with influencers to reach followers.
    • Expands SEO as companies that have embedded media results to higher search results and are 45x more likely to rank on 1st page of Google

 

  1. Artificial Intelligence

The past year was mostly about updated and innovative trends in marketing, specifically in the tech space. Instant communication is in-demand and online consumer behavior is evolving. One trend that is having a big impact is AI in marketing. AI automates key marketing activities such as behavioral analysis, personalization, lead generation, customer relationship management (CRM), and other tasks that need automation. So marketing teams will have more time and become highly productive to create innovative strategies and analyze complex marketing models to increase their return on investment (ROI).

Key Benefits

    • AI automates repetitive tasks and improves efficiency.
    • We can personalize customer experiences and recommendations.
    • It is possible to predict customer behaviour and trends.
    • Maintains a more refined and strategic content curation process

 

  1. Extended Reality

Companies in the world are increasingly utilizing extended reality to create an immersive experience for beloved customers. These tech-based marketing solutions play a key role in measurable results for location-specific targeting with virtual events and storefronts. Businesses can also create global virtual events to reach their worldwide audience and sell their products and services around the world. Extended Reality has given companies a better way of emotionally connecting with their audiences in a post-pandemic scenario, where face-to-face communications are less common.

Key Benefits

    • It is possible to provide immersive experiences for customers.
    • With virtual product demos, we can increase sales.
    • It provides unique entertainment and brand experiences.

 

  1. Web3 Marketing

Web3 marketing is a revolutionary marketing approach that decentralizes marketing activities and provides customers with a gamified and interactive user experience. Marketers can employ blockchain technology-based tools to enable targeted audiences, ad fraud prevention, decentralized web hosting, and peer-to-peer interactions. Web3 marketing also empowers marketers to navigate brand relationships from the physical world to the virtual world while providing a better customer experience.

Key Benefits

    • We can create engaging, interactive experiences.
    • Use this platform to leverage decentralized platforms for marketing.
    • We can offer rewards and incentives for customer engagement.
    • Enhancement of real-world advertising

 

  1. Blockchain Technology

Recently blockchain technology has captured the tech world as a helpful tool for advertising and marketing. While a lot of us relates digital marketing with Analytics and AI, blockchain can be the most disruptive technology that is soon to impact marketers in all types of industry. Most of the uses for blockchain revolves around crypto-currencies and finance, but the fundamental technology might be vast for marketing. Since it is a decentralized ledger technology, companies can perform marketing and advertising with better data, gain deeper insights into audience interactions with ad campaigns and cultivate meaningful customer relationships.

Key Benefits

    • This technology enables us to create loyalty programs and reward customers.
    • It provides higher reliability to ensure transparency and authenticity of data.
    • We can improve supply chain management.
    • Creates verified chain from the ad dollar to the end user which results big savings for companies

 

  1. Voice Marketing

Voice marketing is a kind of digital strategy and tactic that companies use to promote their brands through voice-enabled devices. According to researchers, currently, above 20% of all searches are voice-led. Some common platforms for voice marketing are Google Assistant, Amazon Alexa, Spotify, Soundcloud, or Vocads. Marketers are focusing on this growth by advancing voice commerce, programmatic audio advertising, and remarketing. Companies are developing solutions such as quality equipment, editing and hosting platforms, and marketplaces to connect podcasters with brands.

Key Benefits

    • We can develop content suitable for voice search.
    • It supports us to create voice-activated ads and promotions.
    • You may use voice assistants to engage customers.

 

  1. Omnichannel Marketing

Omnichannel marketing is a one-stop marketing approach that gives customers a cohesive, integrated shopping experience across all types of digital locations, events, mobile devices, and online stores. This is highly useful for eCommerce store owners because it is vital for them to know where their customers come from. Omnichannel enables campaign management across all types of content such as SMS, phone calls, email, and chatbots through a single platform, both offline and online. With data and analytics, it gives consistent data whenever customers buy products and services.

Key Benefits

    • It is possible to personalize messaging for each customer.
    • We may use data to track customer journeys.
    • We offer consistent experiences across all channels.
    • Engage customers in real time with customized experiences.
    • Aligns all messaging across marketing and sales channels

 

Conclusion 

Every technology continues to evolve and new innovations are being introduced all over the world.  Technologies have become an integral part of our everyday life. We use technologies in our everyday lives and our career lives. By understanding the latest tech trends that can influence your marketing strategies, make sure that your marketing paths are effective and productive to deliver successful results.

Dhunicorn 0 Comments
Jun 26 2023
Unlocking Business Potential: The Power of Professional Consulting Services

Unlocking the power of business potential in today’s high-paced corporate world requires excellent business expertise, knowledge of applying the latest technologies, communication skills, innovation skills, and several other attributes. Hence, companies are looking for services that provide result-oriented business solutions.

In this article, you will know about the business solutions that you need, and the most prominent benefits that enable businesses to solve their problems, describe and present business intelligence solutions examples by industry and business function (departments) that you can apply in your organization such as retail, healthcare, IT, sales, marketing, logistics, hospitality, education, etc.

A business solution is the practice of developing various aspects of business functions through multiple techniques and strategies. The key goal of a business solution is to promote the elements of a brand along with the qualities or benefits of a product or a service. Business solutions are not only developing your business operations but also expressing your brand values through as many as approaches possible. With the right approach, business solutions connect your values with the right audiences that need added value.

Every brand needs to have a powerful purpose behind it like every ambitious person has a strong purpose for his goal. The purpose of a brand justifies why a brand exists in the world and what the brand is going to offer for making the world better. Core values define the soul of a product or a service and serve our society with a series of shared beliefs and solved problems. Business solutions can enhance a brand’s purpose with core values. Hence, effective business solutions will make your brand stand out in the crowd.

Business solutions help you discover the target market, which is the fundamental step in marketing. Whenever implementing various business solutions, keep in mind that you will find out who your customers are, as you can modify the elements of your services or products according to their exact needs. It can also make you focus on a niche market, and you can create a brand identity based on their hopes, behaviours, desires, cultures, languages, and needs.

Business solutions will also empower a brand to discover its competitive brands. It will not help you to imitate exactly what the existing brands are doing, but it will make you aware of what services and products competitors are offering now. If a brand wants to achieve something in the long run, discovering exact competitive brands is an inevitable step, which you will obtain with the right business solutions.

All the marketing techniques that a brand applies help to boost brand energy temporarily. If the company focuses on the qualities and benefits, it will boost the brand image finally. Here, B2B companies that provide tailor-made business solutions with an authentic and transparent approach make your products and services with quality standards for better survival, and for saving costs with a more affordable option.

Business Consulting plays a vital role in helping businesses overcome most challenges by adapting the wisest business strategies with cost-effective and value-added solutions.


DhuMall has a network of consultants that are experienced, knowledgeable, well-trained, skillful, smart, and creative, we identify profitable and unprofitable activities in business, develop sales planning, governance the implementation of plans in real-time, organize budget planning, cash flow analysis, market research, competition analysis, production planning, efficient supply management, and inventory.

In addition to consulting services, DhuMall provides various business solutions to help our clients achieve their goals and improve their performance. Our business experts work closely with businesses to understand their unique challenges and opportunities and develop customized strategies to address them. Find out some of the other business solutions we offer at https://dhumall.com/business-solutions/ or book a slot for a videoconference to speak to our experts at https://dhumall.com/videoconference-appointment/.

Dhunicorn 0 Comments
Jun 6 2023
Set SMART Goals to Gear up your business for 2024 and beyond

Setting SMART goals for your business is an important step for getting result-oriented success. You need goals to measure growth by comparing your present performance with past ones. If you’re not getting the results you expected, you may adjust your goals or get to the bottom of why you cannot meet them.

To set goals, you need to find out key areas to focus on. What are the key areas you need to concentrate on in your business? This may depend on your business strategies and productions, but some instances to consider include:

  • Customer service improvement
  • Growing sales volume
  • Increasing profit margin
  • Reducing costs
  • Reducing the time required for product or service production
  • Enhance problem-solving skills
  • Innovation
  • Improvement of company culture
  • Profitability

Based on the above key areas, if you want your company to grow, you need to set SMART goals. Otherwise, how will you measure the success of your business growth? SMART goals mean specific, measurable, achievable, realistic, and time-based goals. These goals will contribute you a multitude of benefits.

The benefits of SMART goals

  • It will guide you to find a path where you must go.
  • It encourages focus which enhances performances and productivity.
  • It will strengthen your decision-making skills.
  • You will be aware of your past successes so that you can use them for a present project.
  • You will be aware of your strengths so that you can easily overcome obstacles with the support of your strengths.
  • It gives accountability by being able to assess if the work is effective and progressing.
  • You will be aware of your weaknesses so that you can reduce them gradually.
  • You will have more motivation and fulfilment at work.

 

Here are four major steps to set your SMART goals.

  1. Boost your brand energy

Everyone companies need brand awareness but not everyone knows should how to get started. This is where SMART goals come in handy. Successful branding gives you a clear strategy for moving forward and it helps you stand out in a saturated market. With established branding, it is easier to introduce new products or services. Whenever we boost our brand energy, our product or service goes to the next level with a unique identification. With the support of branding techniques-based SMART goals, if we connect our brand with several other brands, we can boost our brand energy with combined elements of several great brands.

Boosting brand energy is the practice of highlighting various aspects of a brand through multiple approaches. The key goal of branding is to promote the elements of the brand along with the qualities or benefits of a product or a service. Branding is not only putting your logo and business name in as many places as possible but also expressing your brand values in as many as approaches possible. It is the right approach to connecting an audience with values and voice through strategic communication.

In today’s market, branding, which can reach a customer’s overall perception of a business, should be done through various digital activities such as social media marketing, search engine optimization (SEO), email marketing and paid advertising, and offline activities such as business cards, tradeshows, workshops, pamphlets, canvassing, classified ads, etc.

  1. Enhance your business operations

Growth and expansion are two main long-term goals for every entrepreneur. An empowered corporate strategy will unleash business expansion opportunities if a successful entrepreneur keeps updating business expansion strategies. With SMART goals, we can expand our business operations with strategic growth initiatives such as:

  • Adding new talents for upcoming projects
  • Addition of new products or services
  • Expansion into new cities, locations, or countries
  • Exploring franchising opportunities
  • Retaining existing customers by selling more products or services
  • Selling products online across multiple platforms
  • Targeting new customer markets

By doing these, businesses can get 70-80%% more efficient in enhancing their business operations. Business expansion strategies make us effectively implement one or more of the above strategies to put our company on the fast track to expansion.

  1. Find strategic business partners

With powerful business collaboration, we can build a strong brand through strategies gained from various scholars. Smart goals should equate with smart partnerships. Business collaboration leads you to access effective marketing techniques, a productive workforce, stronger corporate development, and partnerships. A strategic partnership is an ideal approach that makes entrepreneurs work collaboratively and leverage individual strengths. It strengthens each business and achieves mutual aspirations faster by learning from one another’s experience, network, and resources.

By discovering our partner, we can have a clear picture of how both our services and products are mutually beneficial. We could:

  • Add value proposition for our existing customers
  • Build brand image and trust
  • Decrease our cost of acquisition
  • Gain access to new customers
  • Increase our expertise and resources
  • Overcome our business fears
  • Predict revenue streams of our partners
  • Reach new markets and sectors
  • Capability to develop employees’ skills and encourage staff motivation

If we have a successful partnership with combined expertise and efforts, we would have an unceasing commitment to equality, creativity, productivity, diversity, and flexibility. 

  1. Reach new markets.

In today’s corporate environment, sustaining development and growth is never a guarantee but when you have SMART goals, it will be more convenient to see what needs to get done, what setbacks take place, and have an assessment of your actions’ impact. These SMART goals should go well with SMART objectives. Advancement in science and technology shortens the life cycles of products and services. Business models are changing continuously and new competitors mushroom here and there with innovative products and services. Hence, it is necessary to seek new markets based on the characteristics of a population such as size, growth, age, income, gender, marital status, and buying habits.

When we have SMART goals for identifying new markets, we can enhance business branding, improve sales and marketing, explore new sales models, channels, and strategies, and connect the right people in the market to boost sales.

Therefore, SMART goals not only provide us with suggestions to organize and resources to invest in but also direct us to plan with goals and objectives what a company has to do to apply. Additionally, these interconnected strategies support our employees to enhance their professional skills and competencies.

Conclusion

Clear goals provide a strong direction for your business to gear up for 2024 and beyond. Every element of goals can play a role when approaching investors or potential partners. Setting goals is always the best step to staying ahead of your competitors. No matter how well your business is performing, there are always areas for development and new targets to attain, and new markets to target. Analyse the results of goals every financial year. A comprehensive analysis will provide you with the ins and outs of the goals you set. If you know how well the goals worked clearly, you can set a new goal successfully.

Dhunicorn 0 Comments
Jun 6 2023
Deliver the Best Result with the Growth Triple Play: Creativity, Analytics, and Purpose

According to some studies, growth triple play, the combined form of creativity, analytics, and purpose, plays a key role in business growth. It is said that applying these elements are essential to increase growth to more than 12% compared to other companies that only use one of these traits. However, the trio is rarely applied; statistically, only 7% of surveyed companies were applying all three. If companies statistically and strategically understand how they can use the growth triple play of creativity, analytics, and purpose, they can drive their market growth successfully. In this article, let’s study how we can integrate these three elements to get the results according to our needs.

Creativity

Creativity and innovation are important factors across all global industries because they can solve any business challenge. It has been dominant in the story of marketing and key support of innovation. If companies want to introduce a new product or a new service, they should form a team with experts that are highly creative and innovative. For every company, staying ahead of competitors is a big challenge. So companies keep disturbing existing patterns of products and services with innovative patterns. Here below are some points that will talk about why creativity is important in business growth.

  • Creative advertising attracts more attention.
  • Creative branding leads to brand loyalty.
  • Creative partnerships expand reach.
  • Creative problem-solving leads to efficiency.
  • Creative promotions increase sales.
  • Creativity enhances brand differentiation.
  • Engaging content attracts more customers.
  • Fresh ideas improve customer experience.
  • Fresh perspectives generate new opportunities.
  • Innovative products meet customer needs.
  • Innovative solutions increase customer satisfaction.
  • Out-of-the-box thinking increases market share.
  • Unconventional strategies create a competitive advantage.
  • Unique ideas boost brand awareness.
  • Unique packaging sets brands apart.

Analytics

Creating moments that are meaningful to customers involves analytical accuracy to be able to discover what customers need and growth depends on greater insights into the wants, needs, habits, and behaviors of customers. Analytics is accepted in almost every vertical and it is at the center of marketing decisions in triple-growth companies. If companies apply analytics with purpose to use data ingestion, integration, storage, and more, to plan new strategies, they can find out new customers. Analytics, an effective solution to tackle all customer data-related challenges, will:

  1. Support to analyse your customer profile to know whether they are regular customers or not. Once you know who your regular customers are and who are not, you can create your sales plan according to their needs, likes, and purchasing decisions.
  2. Provided insights and data efficiently and accessible to all teams across the organization to help in decision-making and innovation
  3. Support to investigate the successful sales to learn more about that sales success. The analysis will tell you how you succeeded in the past sales process.
  1. Make a clear statistics-based analysing of your sales strategies with the support of a market research team. Statistics gained from the market research team will support you to advance your sales strategies.
  2. Organize a research and development team to analyse what your competitors offer and introduce new techniques. If you understand what your competitors perform, you may try to overcome them.
  3. Set SMART goals to improve your sales since it is Specific, measurable, achievable, realistic, and time-bound. Based on SMART goals, you can increase your sales.

The Power of Purpose

Every company should know how to tell a brand story since it is an opportunity to communicate with customers. With a direct emotional connection and the right message, a company can create an engaging brand story that has the elements of products and services. Storytelling can play a major role in influencing brand awareness and bringing in new customers.

By linking the power of purpose with the elements of creativity and data analytics, brands can tell better brand stories and deliver result-oriented experiences to consumers in the form of products or services. The purpose is the North Star in growth triple play, guiding the direction in making critical decisions and connecting Purpose to creativity and Analytics is important in determining opportunities. Crucially, purpose helps companies make important decisions that will create the long-term growth pattern of the brand. With the support of data gained from analytics, companies may adopt customer acquisition tools to attract new leads to their businesses.

Obtaining social proof is an ultimate goal that you must do not only to check the quality of products and services but also to understand how customers give feedback on your brands. If you manufacture your products or develop your service based on customer feedback, it validates that your brand is trustworthy.

Identifying the target audience is another important benefit if companies connect their visions and missions with analysed data. Before designing a digital marketing campaign, with the support of survey classifications, the company can reach out to the customers who choose services or products of their brands.

The most advanced design thinking will give every company a great customer experience. When you set goals based on analysis, you could implement the latest customer-friendly designs to attract new customers. And also, you can build a healthy relationship with your customers to increase your customer base since existing customers tend to introduce new customers if they like your professional relationship and brands at the same time.

After linking the power of purpose with the elements of creativity and data analytics, you can become a master in creating high-converting landing pages as you want new customers to be landed on your pages. If you want that your client acquisition strategy should be more successful, you need to focus on developing powerful landing pages.

Conclusion

Growth triple play can bring a strong direction for your business growth. Every element of this technique can play a role when companies set goals. The fusion of creativity and data analytics with the power of purpose will support you to have a big transformation in your business growth. It will:

  • Boost economic prosperity and job creation.
  • Enable sustainable and inclusive growth.
  • Enhance access to education and healthcare.
  • Enhance social and cultural development.
  • Expand infrastructure and public services.
  • Facilitate international trade and globalization.
  • Foster innovation and technology development.
  • Improve the quality of life for citizens.
  • Increase investment and business opportunities.
  • Strengthen national and regional competitiveness.

A comprehensive integration of these three elements will also lead you to have breakthrough ideas making the growth rate twice as high as those companies that don’t. If you technically and meticulously know how well this technique will work, you can set your business goals successfully.

Dhunicorn 0 Comments
May 27 2023
Use ChatGPT in Your Start-ups and Stay Ahead of the Game

Artifical intelligence has been dominating the game competently and ChatGPT which stands for Generative Pre-Training Transformer, a cutting-edge AI language model developed by OpenAI, has become one of the key business development tools recently.  With the support of several machine learning algorithms, it analyses vast amounts of data, learns patterns, and generates human-like responses to textual inputs. Moreover, it has the ability to provide you with context-specific data. With a diverse range of trained texts, including books, news articles, and social media posts, ChatGPT can understand natural language and respond immediately and logically. Start-ups can leverage ChatGPT to gain a competitive advantage to stay ahead of the game.

 

Customer Support
Today’s era of fast-paced customer expectations and digital world, almost all businesses are consistently improving their customer support together with e-commerce experience. The success of every start-up depends on customer satisfaction. Customers come from all walks of life and expect quick and trustworthy support whenever they face any issue related to the product or service. ChatGPT revolutionized industries by providing content for all types of corporate purposes and has been earning credits as a potential as a game-changer at an early stage. ChatGPT can learn from customer interactions and recognize common issues. So it can suggest solutions to resolve customer issues quickly, thus decreasing response times and improving customer satisfaction. You can use ChatGPT to obtain content for the following types of customer support.

  • Chat support
  • Email communication
  • Knowledge base support
  • Multilingual content
  • Q/A section
  • Self-service support
  • Social media post
  • Telephonic conversation
  • Text message
  • Video support

 

Business Operations
As start-ups have limited resources, they need to enhance their business functions to maximize productivity. With the support of ChatGPT, start-ups can streamline their operations in several ways to create clear and concise standard operating procedures, develop performance metrics for analysis and improvement, and focus on cost control and budgeting. ChatGPT has been programmed to perform human-like reactions to a selection of prompts. It has the capability to absorb conversation in a variety of languages and to come up with comprehensive writing. Here are 10 types of business functions that can be enhanced with the techniques acquired from ChatGPT.

  1. Accounting and bookkeeping
  2. Customer relationship management
  3. Financial reporting and analysis
  4. Human resources management
  5. Inventory management
  6. Marketing automation
  7. Project management
  8. Sales forecasting and analysis
  9. Supply chain management
  10. Workflow automation

 

Product Development
Product development is a major function of every business. ChatGPT can help companies by providing techniques to build a minimum viable product, conduct market research for product validation, innovate with new features and technology, and prototype and iterate for continuous improvement. ChatGPT is a useful tool to Product Managers in terms of Predictive Analysis, Outreach emails, drafting survey questions, expanding product lines, monitoring competitors, and product recommendations.

 

Types of product development

  • Agile development methodology
  • Concept testing and validation
  • Continuous improvement and iteration
  • Idea generation and ideation
  • Market research and analysis
  • Product design and prototyping
  • Quality assurance and testing
  • Release and deployment management
  • User adoption and engagement
  • User experience testing and optimization

 

Skill Development
Greater efficiency can boost the overall growth of a company, making more profits and decreasing excessive expenses. To attend training for new knowledge acquisition, observe experts for analysis and learning, practice to improve proficiency and consistency, and set specific, measurable goals for development, employee skill development is essential. Let’s see the top 10 skills that are needed for business development and use ChatGPT to obtain techniques for improving related skills.

 

Types of skills

  • Communication
  • Conflict resolution
  • Customer service
  • Diversity and inclusion
  • Leadership
  • Project management
  • Sales and marketing
  • Team building
  • Technical skills
  • Time management

AI-supported management has been relevant for companies that aim to achieve 360-degree sustainability and ChatGPT is a tool that can seed up the transition by saving time and lowering the cost of sustainability management.

 

Cost Savings
With some cost-saving techniques, start-ups can reduce their labour costs and improve their bottom line. By using GPT, companies can generate content for obtaining cost-saving techniques to conduct a cost analysis for budget optimization, implement telecommuting for office cost savings, minimize waste for cost and environmental benefits, and upgrade equipment for energy efficiency and longevity.

 

Cost-saving techniques

  • Asset management
  • Automation and robotics
  • Cloud computing and virtualization
  • Energy efficiency improvements
  • Outsourcing and offshoring
  • Process optimization
  • Procurement optimization
  • Supply chain optimization
  • Vendor contract renegotiation
  • Waste reduction and recycling

ChatGPT may not be capable of providing service as humans do but it is cost-effective considering that it can work 24/7 in the customer service department which is highly advantageous for companies especially to the ones with worldwide customer base. 

 

Market Research
If you don’t know who your customers are, your sales and marketing efforts will become worthless. You need to make a clear statistics-based picture of your customers with the support of the market research team and ChatGPT is a prevailing tool that can provide useful insights and can help companies to make good decisions. You may use ChatGPT to get the following types of techniques for performing better market research.

 

Types of market research

  • A/B testing – Comparing two versions for performance
  • Case studies – In-depth analysis for insights
  • Competitor analysis – Researching competitors for insights
  • Customer feedback – Gathering feedback about products/services
  • Industry reports – Reports on specific industries or markets
  • Interviews – One-on-one conversations for in-depth insights
  • Observation – Collecting data by watching consumers
  • Online analytics – Analyzing data from online platforms
  • Surveys – Questions to gather information from people
  • User testing – Testing product with users for insights

 

Content Marketing
Content marketing is one of the key marketing approaches focused on creating and distributing content in the digital world although it has been proven that it can be time-consuming and the process is a bit redundant.  Content must be valuable, relevant, and consistent to attract and retain the target audience and to drive profitable customer action and the good news is that you can get some tasks programmed making the work more convenient and easier using ChatGPT. With this tool, you can systematize content optimization, generate leads and do keyword research.

 

Types of content that uses ChatGPT

  • Blog posts – Written articles on a topic
  • Case studies – Customer success stories
  • FAQs – Answers to commonly asked questions
  • How-to guides – Step-by-step instructional content
  • Infographics – Visual data representation
  • Interactive content – Engaging audience participation content
  • Podcasts – Audio education or entertainment
  • Social media posts – Short updates on platforms
  • Videos – Engaging educational content
  • Whitepapers – Industry insights and solutions

 

Conclusion
ChatGPT is a highly useful AI tool that will allow start-ups to go progressive with the speed of content production. However, if you don’t know the exact direction of obtaining the required data, it’ll generate useless and uninteresting data. So you still need to be able to think before you asking data from GPT. The more creative and productive questions you ask the more highly beneficial data you can get from ChatGPT.

Dhunicorn 0 Comments
May 16 2023
Uncovering Surprising Opportunities in the Inflation Economy

During a period of economic crisis, business aspirants should develop an attitude to think outside the box. The right path with the right strategies might bring a surprising opportunity. Any organizations that start marketing their services or products during an economic crisis will become more resilient because they prove that they are able to survive in an inflation economy. The first thing that start-ups need to do is to look at inflation in a different dimension. When they change their traditional mindset, they will come out of their comfort zones. In this article, let’s see a few sectors that can be a trendsetter even when an economic crisis exists.

 

Real estate
The real estate sector is one of the most popular options among investors because investing in this sector can improve in value amid high inflation. When it comes to investing in real estate, there are several ways to invest. Here is a list of benefits of investing in real estate.

  • Commercial real estate can provide steady returns.
  • An increase in property values benefits investors.
  • Interest rates rise and rental income increases.
  • Investing in properties in high-demand areas will make profits in the long run.
  • Investing in REITs can offer diversification.
  • Investment in real estate development projects can be highly profitable.
  • Property flipping can be profitable.
  • Rental properties offer consistent cash flow.
  • Selling property at a higher price after the inflation.
  • Short-term rentals can be lucrative.

 

Energy
The energy sector includes oil and gas production companies, fuel producers, and companies that provide energy producers with equipment, materials related to energy, and other energy-related services. Because of the ever-increasing need for energy consumption, this sector can be one of the best options during any higher inflation. Do you know how energy companies make profits during high inflation?

  • Energy companies’ profits increase with inflation.
  • Energy storage solutions can benefit investors.
  • Expanding into international markets can be profitable.
  • Increasing production can yield greater profits.
  • Investing in energy-efficient technologies.
  • Investing in natural gas production.
  • Investing in renewable energy infrastructure.
  • Selling energy to high-inflation countries.
  • Trading in energy futures and options.

 

Finance
Financial companies such as banks, insurance, and investment companies can play a fundamentally important role during any financial crisis in achieving economic growth. Hence, investing in this sector brings a lot of benefits and profits as given below. 

  • Asset management can benefit from inflation.
  • Increased volatility in the stock market.
  • Increasing loan portfolio yields.
  • Investing in private equity and hedge funds.
  • Investing in inflation-protected securities.
  • Investment in high-yielding bonds.
  • Offering fixed-rate loans with adjustable rates.
  • Raising interest rates can increase profits.
  • Trading in commodity futures and options.

 

Commodities
Investing in commodities such as gold, minerals agricultural products, oil and gas, copper, soybeans, etc. is an ever-growing investment opportunity.  In various dimensions of our lifestyle, we must depend on these commodities for our survival as well as our luxurious needs. Hence, the following key points will tell you why and how the commodity is one of the best investment options.

  • Agriculture product prices rise.
  • Diversification of commodities in a portfolio.
  • Increase in demand for energy commodities.
  • Increase in demand for industrial metals.
  • Inflation increases commodity prices.
  • Investing in commodity ETFs.
  • Investment in commodity producers.
  • Investment in precious metals.
  • Speculating on commodity prices.
  • Trading in commodity futures and options.

 

Healthcare 
The healthcare sector is the most important area in the corporate world, growing significantly faster. Hence, during the inflation economy, health sector-related companies such as biotechnical companies, medical device companies, insurers, and healthcare providers give you the best investment options. Find out the benefits of this sector.  

  • Healthcare demand increases with inflation.
  • Healthcare real estate development opportunities.
  • Healthcare stock market volatility.
  • Increase in demand for medical services.
  • Increase in healthcare insurance premiums.
  • Increased interest in telemedicine.
  • Investing in medical device companies.
  • Investing in pharmaceutical companies.
  • Investment in biotech start-ups.
  • Investment in healthcare REITs.

 

Education
Online educational platforms have become an important platform to educate students and adults from all walks of life, which function as alternatives to traditional studying and teaching systems. It is expected that future start-ups will come forward for enabling students with powerful e-learning courses on unique digital platforms. E-learning platforms have become the choice of investors around the world. Find out the benefits here below.

  • Education management organization investment.
  • Education REITs investment opportunities.
  • Increase in demand for education services.
  • Increase in demand for student loans.
  • Increased demand for online education.
  • Investing in edtech content providers.
  • Investing in education-focused private equity.
  • Investing in international education providers.
  • Investment in education technology companies.
  • Investment in vocational education.

 

Stocks
Investing in stocks is one of the most common investments in the world. Even though buying stocks is the riskiest option, potential gains make it worth it when it comes to investment opportunities. The key aspect of investing in stocks during a period of high inflation is to look for investment opportunities without spending any capital investment. Find out the benefits of investing in stocks here below.

  • Growth stocks can outperform value stocks.
  • Healthcare stocks may perform well.
  • Interest rate-sensitive stocks can perform well.
  • Investing in defensive stocks.
  • Investing in dividend-paying stocks.
  • Investing in emerging market stocks.
  • Investing in inflation-resistant stocks.
  • Investing in international stocks.
  • Small-cap stocks may perform well.
  • Technology stocks may perform well.

 

Conclusion
The sudden inflation may dramatically increase the cost of starting a business. However, for some business aspirants, it is an eye-opener if they use their business minds to challenge the inflation economy. In the last US economic crisis, some companies that had started during the inflation proved business successful, providing various technologies and services to provide products and services to customers. So every time is a good time if you know how to make it productive and prosperous.

Dhunicorn 0 Comments
May 9 2023
Defining And Getting Ready For The Future Of Connectivity

While 5G has just barely tip-toed its way into the world with its numerous promising opportunities, businesses have already started preparing for the 6G in full swing. It is often heard that connectivity has transformed business modes in the areas of safety and efficiency. This is because the revolutionary era of 6G technology is approaching us with a near-instant and unrestricted complete wireless connectivity fostering a promising future of an incredibly connected world.

6G is the acronym for the sixth generation of cellular technology. It is the next generation of mobile internet which means that it is the successor of 5G with enhanced capacity anticipated to deliver exceptional wireless connectivity and it is expected to become highly functional in the 2030s, building on social, consumer, and industry use-case mobile connectivity revolutions enabled by the promising features of 5G. 

Because there is immensely reliable low latency with 6G which means the network is highly optimized to respond with negligible delay, it offers the possibility of endless opportunities. These opportunities include three-dimensional holographic communications, the Internet of Drones (IoD), the Internet of Everything (IoE), digital twins / massively extended reality (XR) /virtual reality (VR), border surveillance, remote patient monitoring systems or telesurgery, Augmented Reality, Autonomous Vehicles (AVs) and many more, in a short way beyond the 5G can offer.

Although 6G technology is not going to be here till around the end of this decade, the business world comprehends that it is just the right time to prepare for the roadmap of forthcoming innovative technology.

So how should businesses move towards this leading-edge technology? What is the essential preparation needed for this radical era?

Let’s have look at the obligatory preparations the 6G technology calls for.

 

Build The Suitable Infrastructure

Businesses have to modify their setup to suit the new innovative technology they are adopting. The 6G technology market is anticipated to expedite massive improvements in the areas of imaging, presence technology, and location alertness. In collaboration with Artificial Intelligence, the 6G infrastructure will be capable of identifying the best place for computing to take place as well as data storage, processing, and sharing.  It is not any different for 6G too. For the implementation of this next-generation cellular technology, a business has to face the challenge of adapting effectively as well. For this, the business has to incur the cost of infrastructure that the 6G network necessitates.

Businesses must understand that for a 6g network, as it is expected to have a speed of 1Tbps, a relatively enormous infrastructure would be required. It may escalate the cost of the infrastructure, proportionately.

Another challenge that needs to be addressed is 6G networks may entail a considerable amount of spectrum to reach the projected speed. This can be very tricky as 6G networks can have just a limited amount of spectrum accessible.

 

Develop A Strong Cybersecurity Strategy

6G has the potential to connect practically 10 million IoT devices in a specific area. It will improve our dealings with Cyberattacks as researchers are saying that it will minimize the risk of digital dangers in the future. This aggravates the vulnerability of the connected devices to cybersecurity risk. With so many interconnected IoT devices, the risk is not just limited to computers and phones, in addition, it can pose threat to the network infrastructure too.

So, the outdated cybersecurity strategy has to be eliminated.  All businesses incorporating 6G technology must instigate the latest security, testing, as well as training standards and put them into practice. Robust cybersecurity must be designed and incorporated into the SDLC (Software Development Life Cycle) with integral securities that detect vulnerabilities and support the network’s recovery promptly in case of any attacks.

To conclude the vision of 6G, researchers are constructing a number of approaches to areas such as antennas, spectrum regulation, artificial intelligence, and machine learning- all of which will be needing full-bodied cybersecurity features to qualify their extensive adoption by industry and consumers in the future. 

 

Revise Seamless Networks

This sixth-generation (6G) wireless communication network is predicted to incorporate aerial, terrestrial, and maritime communications into a vast network to which they would be faster, more reliable, and able to support multiple numbers of devices with very minimal latency requirements.  6G entails omnipresent connectivity and thus necessitates pioneering radio technologies that support seamless integration of all wired and wireless networks as well as non-terrestrial networks which were tough to achieve with the previous generations of cellular technology.

Also, Artificial intelligence can be incorporated as the in-built element of the 6G network model. This can aid in boosting the performance of the intricate sixth-generation networks while making the same more efficient and flexible on top. Not just that, 6G technology also calls for further developments in IoT, and additional improvement in mobile broadband, apart from ultra-reliable communications beyond 5G.

 

Employ Policy To Facilitate Innovation, Availability, And Security

This is the most appropriate stage to develop the regulatory base and form global policies for 6G networking technology. Policymakers must come together with industry leaders across the world to decide on further spectrum allocations for mobile services, IMT identifications as well as harmonization.

Countries across the world must recognize their requirements, partake in the international regulatory process and outline their roadmaps, to enable their residents and economic sectors to get the greatest value from this upcoming technology while protecting themselves and their data.

The task of businesses here is to keep eyes open for these policies and create future business ideas plans and strategies accordingly if it involves 6G technology.

 

Build Consistent Global Industry Standards

Now as businesses have their hands on 5G while weighing up and modifying the established standards they can get a clear picture of the requirements of 6G. So, this is an apt time to initiate setting the basis and standards for the next generation of connectivity. A single, international standard that is applicable to all types of industries and topographies can do a lot in ensuring consistency and economic scale during the 6G rollout. 

A solid and consistent set of standards that is valid for each and every industry, all over the world is a way to guarantee standardization. All must contribute to assessing 5G standards through various demonstrations to prepare for the needs of 6G.  It is also a way to benefit companies by making their processes efficient and will minimize geopolitical issues that might lead to standard competition. However, at this stage, only general standards and not very specific ones can be framed.

 

Develop The Right People

People like scientists, physicists, researchers, engineers, and academicians are the ones who innovate and create new technologies and make them accessible to the world. So, when the newest technology is incorporated into a business, the business must fortify itself by fostering technology experts as well.

These experts may help the business by coming up with new ideas for the 6G application which can be commercialized by the business profitably. Therefore, businesses must put the effort into building a team of proficient individuals, and provide them with resources so that they can educate and train them to their best ability and close their skill gaps.

Although 6G is merely in the research stage currently, it is crucial to prepare and plan for the coming times. Businesses must be aware of the fact that transitioning from 5G to 6G technology can throw in huge challenges and it is never too early to set off, planning for 6G. This is actually the most appropriate period to take action to keep up the momentum of 5G while opening the way for its successor – 6G technology.

Dhunicorn 0 Comments
Apr 13 2023
Add Value to Your Business Transformation via Cloud Solutions

When you are looking for world-shattering approaches to transform your business, you face roadblocks because of limited resources and a lesser amount of development strategies. If you dive deep into cloud computing, you may add value with unlimited sources and strategies to your business transformations that will help you accelerate digital transformation. According to the statement of Fortune Business Insights, the market size of global cloud computing is predicted to reach USD 1,712.44 billion in 2029, at a CAGR of 19.9% during the period of year 2022-2029.

Everything in the world is moving fast in the age of digitization. We could have come across a sudden rise and fall in several industries. If companies need to meet modern-day demands, they can go for cloud computing to transform their businesses and stay ahead of the curve. Cloud computing offers you the fastest transformations to help grow your business with advanced resources such as servers, storage, networking, databases, software, analytics, and intelligence. Organizations could leverage the power of the cloud to move quicker, respond faster, and improve new revenue streams, generating exponential, lasting value. In this article, let’s analyse in detail how cloud computing could contribute more to business transformations.

Agility

The business model of every company needs to be constantly upgraded with innovative elements, the latest trends, or the requirements of new generations. Cloud computing delivers the essential infrastructure with continuous optimization across the organization with great agility which is not possible earlier. When companies are ready to be based on utilizing cloud computing elements, firms get ready to stay agile and are willing for the transition.

  • Ability to quickly adapt to market changes
  • Easy to collaborate with others
  • Easy to customize solutions
  • Easy to scale up/down
  • Easy to test and experiment
  • Faster time to market
  • Rapid deployment of new features
  • Reduced development time and costs
  • Reduced time to deploy
  • Reduced time to troubleshoot

Computing competencies are simply limitless.

Cost Effectiveness

Generally, companies are not interested to invest more and more to create a new infrastructure, as it needs a lot of cost and labour effectiveness. They want to advance the existing infrastructure with cost-effective approaches. Most companies in the world play this cost-effective business game for a long time. Nowadays, cloud computing allows companies to enhance their business functions with the minimum resources they use. When it comes to quick overall development, the cloud is, undeniably, more suitable as compared to other solutions.

  • Increased cost transparency
  • Lower energy costs
  • No maintenance fees
  • No need for physical storage
  • No need for upfront investment
  • Pay-as-you-go pricing model
  • Reduced need for hardware
  • Reduced software licensing costs
  • Reduced staffing requirements
  • Scalable usage and costs

Accessibility

For more than one decade, several companies have started developing continuously to promote their brands in the form of apps, as apps are delivering effective customer experiences with many advantages such as improved ROI, reduced complexity, and less manual operations.

Gradually, apps of all big enterprises and several SMEs are being more widely used by customers from all walks of life, which increase the demand for management of application integration in the form of cloud computing. Apps connected to cloud computing give users the ability to use them effectively, as cloud-based applications can also be accessed from any location using any internet-connected devices such as PCs, smartphones, and tablets.

  • Accessibility on-the-go
  • Anytime, anywhere access
  • Easy accessibility features
  • Global accessibility
  • Improved customer experience
  • Improved user experience
  • Increased collaboration
  • Increased engagement
  • Multi-device compatibility
  • Reduced barrier to entry

Security

Infrastructural issues and data loss are common in the digital world. However, when it comes to moving data to cloud computing, it authentically decreases the dangers of data loss, illegal access, and any other problems related to infrastructure. We can also protect data from potential dangers, as backups are generated automatically. Companies prefer to cloud computing because of more secure industry-wide advancements developed by cloud service providers and numerous cloud providers offer a wide set of technologies, policies, and controls that reinforce the security posture of any business by helping protect your data, application, and infrastructure from possible threats. Here below are some security techniques of cloud computing that companies might use in their business functions.

  • Advanced encryption technologies
  • Automatic software updates
  • Compliance with industry regulations
  • Dedicated firewalls and intrusion detection
  • Dedicated security teams
  • Reduced risk of data breaches
  • Regular security audits and testing
  • Regular security updates
  • Two-factor authentication options
  • User access control and monitoring

Scalability

Cloud scalability in cloud computing can increase or decrease IT resources as required to meet the changing demands of every situation and it is at its peak of becoming the new normal. Cloud solutions provide resolutions to anticipate problems like cybersecurity, managing big data, and quality control. To add up, evolving technologies such as AI are becoming accessible through cloud solutions. Companies will have an opportunity to increase data storage capacity, processing power, and networking by joining cloud computing infrastructure. This is one of the most technical, beneficial, and cost-effective features of cloud computing, as companies can grow up or down to meet the demands depending on the season, development, projects, etc. By distributing workloads among more servers as demand rises, cloud computing empowers businesses to maintain business continuity while attaining maximum benefits.

  • Access to advanced technologies
  • Easy to scale up/down
  • No need for hardware upgrades
  • Pay-as-you-go pricing model
  • Reduced energy costs
  • Reduced need for in-house IT staff
  • Reduced need for physical storage
  • Reduced software licensing costs
  • Reduced staffing requirements
  • Scalable usage and costs

Conclusion

Apart from the benefits given above, there can be several other reasons to adopt cloud computing. Hence, companies should assess their needs and solutions to create a future-based cloud migration plan. According to the study by Gartner, 95% of data workloads will be hosted in the form of the cloud by 2025, up from 30% in 2021. They have predicted that over 95% of businesses would go for cloud computing by 2025. For more efficient business operations and cost savings, every company should adopt cloud computing as it can support data backups and redundancy, disaster recovery solutions, and reduced risk of data loss.

Dhunicorn 0 Comments
Apr 4 2023
Capturing Opportunities In The Inflation Economy

The impact of covid-19 combined with the Russia-Ukraine war has devastated the global economy. Lack of enough industrial production and the shutting down of many businesses all through the pandemic times have led to the inadequacy of supply and thus incapability to meet the increased demand for goods. This gap along with the hike in energy costs triggered by the Russia-Ukraine conflict has ignited high inflation. And this inflation is likely to persist in 2023.

This is not good news for businesses. Because now they have to struggle with escalating input costs and diminishing the spending power of the customers. However, businesses must realize that every now and then, they have to battle challenges and tough times in order to survive.

So, to thrive right through this flaring-up inflation businesses must consider it as an opportunity to re-evaluate and streamline business processes and workflows, and invest in innovation and technology that can boost output and efficiency.

Let’s go through some of the ideas businesses can implement to get ahead and be successful in this inflation surge.

 

Going Digital

Adopting digital technologies is a great way to counteract the unfavorable impact of inflation. It helps in improving cost-efficiency by modernizing outdated legacy systems. It supports by enhancing workflow efficiency and automating tasks, which means productivity gets better.

Going digital during rising inflation can be advantageous. Businesses across the world making digital transformations have raised the customer experience standard very high. Keeping up with the increased expectations of the customers is important to stay ahead of the competition. Organizations leading the digital transformation tend to have lower expenses in doing business and it is one of the benefits of the current inflationary situation.

Digital technologies not just improve business efficiency but also aid in analyzing and making the most of the data collected. It can help business people in informed and accurate decision-making.

Such digital transformation efforts have a long-term positive impact on business costs, product prices, and services. Overall, it can boost profits and revenue as well as drive business growth.

 

Employing Dynamic Pricing Strategies And Tactics

Rather than increasing the price of the products to cope with inflation, adopting dynamic pricing is a wiser option, especially to retain price-sensitive customers. The price of any product hinges on a number of variables such as changes in the market, rise and fall of demand, prices of the competitors, etc. Businesses can have the option of altering their inflationary price response by customer and product segment and study both margin performance together with the customer’s willingness to pay. Performing this precise approach could help with gaining profits and making good customer relations.  Changing the price for the product or service as per the fluctuations of those variables allows businesses to adapt and be agile even if inflationary pressures occur.

It lets the customers purchase the products at the best deals during financially pressing times and thus supports businesses in retaining their customers. Additionally, it can benefit businesses by preventing them from price gouging as well as price deflation, thus beating the competition lucratively. This ultimately carves the path to long-term success.

However dynamic pricing can be a cumbersome and time-consuming task if done manually. So, it takes AI-based software to automate the task effortlessly, and consistently.

 

Reconsidering Product Offerings

Certain products or services are more prone to inflation than others. At this time of inflation, companies should consider downgrading products so they would not have to change prices. Customers consider pricing meticulously but may not sense the small changes may it be size, weight, or the packaging of their purchases. Taking off such underperforming products or services can facilitate dealing with inflation effectively. Because, by doing so businesses incur lower overhead expenses, create an efficient marketing plan, and cater to a more specific customer base.

Also, it can help in directing focus on those products that have the probability of fetching more profits.

 

Personalizing The Customer Experience

Customers feel valued if they receive service customized service to suit their needs and preferences. Taking customer service for granted can be a risk to any business’s value because they tend to be more loyal to the companies offering them personalized experiences. Countering price increases while reducing efforts in service and experience can push away existing and potential customers.

To offer such high-impact personalized service, companies must undertake a customer-centric approach. Also, the service delivered must also be prompt, responsive, friendly, and pertinent to customers’ individual preferences.

 

Considering Supply Chain Optimization

Supply Chain disruption is bound to happen when inflation flares up. Inflation equates to a limited supply of goods during increased demand for those products, which may be a need or a want. However, the optimized and resilient supply chain can help businesses not only mitigate the supply chain disruption but also support them to thrive by means of innovations that spring up growth.

Utilizing a supply chain platform is a great option as it integrates all the resources, data, processes, and technology in such a way that everything is centralized and can be accessed in real-time, online. Supply chain and procurement also should play their part by being resilient and by serving as coordinators between suppliers and businesses.

 

Adopting New Business Model

This is a strategy applied by many successful companies in the past, during the Great Inflation in the 1970s.

To start with, the existing business model must be analyzed to figure out the flaws in it to ensure that the new model does not replicate the same. Since the markets are changing constantly, the major trends of the markets must be scrutinized and utilized. Inflation can make customers switch preferences in order to make the best use of their purchasing capability. This simply means that they tend to consider their expenses and needs and this can be an opportunity for businesses to launch new products and remove the slow-moving ones to match their customers’ preferences. 

To develop a winning business model the company must have an in-depth understanding of its customers and must consider them as the main aspect. So, detailed customer research plays a huge role in this.

The data obtained by thorough customer research is like a magnetic compass and steers the business owners in the right direction and helps them make well-informed decisions so that the chances of failure are trimmed down. It is equally important that the newly innovated business model does not drift away from the original business the company is actually in.

 

Using Promotions

Promotions are a great way to help businesses walk on the thin line of setting prices that hold margins without hurting the customer relationship. Customers are big fans of discounts even during a healthy economic situation and in economically hard times, the majority of customers count on companies that offer them promotions and it makes them feel that the particular brand cares about them and so they remain loyal to such brands even when normalcy returns.

So, businesses can go for loyalty programs devised to get returning customers. Product bundling is another option to increase sales by stirring the customers to buy more to save more. If personalized it can satisfy the requirements and preferences of customers and can be an immensely valuable opportunity to cross-sell and up-sell. Increasing the transaction size and frequency of the existing customers can enhance profits and grow the business explosively. Another way is to pinpoint where else the customers are spending and then target these products accordingly. Once these goods have been identified, discounts and promotions can be given to such products if it’s existing in the business’ products list, or look for a supplier who can give you a good bulk price and then promote it. 

By applying innovative ideas as well as the right strategies, businesses can find opportunities in adversity and navigate smoothly through tough situations like inflation. It also prepares them to understand and adapt to the instabilities of the economy. It also trains them to be more nimble and powerful, instead of getting succumbed to challenging situations.

 

Dhunicorn 0 Comments
Mar 27 2023
Connect with freelancers who can deliver the right talents!

As a business owner, you may have the opportunity to explore an endless number of approaches to develop your business with sustainable and successful resources. Among these ways, hiring freelancers is one of the most powerful approaches you can use to boost your business growth and expansion.

As you are well aware of the digital world, you might have come across professionals and independent freelancers that contribute various services to help you write your blog, create a website, write social media posts, and even develop new apps or software. With the right freelancers, you will apply the right expertise to develop a variety of functions in your business to achieve your business goals.

Freelancers offer flexible and cost-effective services for several business needs. Whether you need writing and editing services, design services, programming and web development services, project management services, virtual assistant services, or translation services, there are freelancers with different skill sets around the world. In this article, let’s find out how freelancers can help boost your business.

 

Admin Support

Fed up with endless admin tasks consuming your valuable time?

Freelancers are ready to perform and facilitate the execution of your administrative activities and procedures for your everyday office operation. Trusted freelancers will provide you with professional administrative support as per your business needs. Here below is what freelancers can offer you:

  • Data entry
  • Email management
  • Calendar management
  • Online research
  • Travel arrangement
  • Customer service
  • Virtual assistance
  • Appointment scheduling
  • Invoicing & billing
  • File management

 

Customer Service

Are you on the hunt for top-tier customer service experts?

Customer service determines how much value you contribute to your customers with your products or services. If you support your clients with the right customer services, you can retain your existing customers and find new customers. With freelancer services, get connected to the right professionals to get work done quickly.  Freelancers can offer a wide range of customer service supports, including:

  • Email support
  • Live chat
  • Phone support
  • Social media management
  • Complaint handling
  • Order processing
  • Refund processing
  • Technical support
  • Ticket management
  • Multilingual support

 

Data Science & Analytics

Looking for high-impact professionals to handle your business data?

Big data is accepted in almost every vertical. Data scientists and analysts can have a firm hold on critical thinking and analysis. Freelancers from these two skill sets will pay great attention to details while solving your problems. Here are some freelance services that are related to data science and analytics:

  • Data mining
  • Data cleaning
  • Statistical analysis
  • Machine learning
  • Predictive modelling
  • Data visualization
  • Big data analytics
  • Business intelligence
  • Market research
  • Data warehousing

 

Design & Creative

Want to grow your business with a pool of creativity?

Freelancers that have in-depth brand strategies ensure the authenticity and wellness of your business with a creative and powerful brand identity. Responsive and cutting-edge design and creative services are an ideal choice for your business needs those resulting in increased revenue and faster growth. So highly skilled freelancers will deliver premium-quality design and creative services, including:

  • Graphic design
  • Logo design
  • Illustration
  • Animation
  • Video editing
  • Branding
  • Web design
  • Print design
  • Packaging design
  • UX/UI design

 

Engineering & Architecture

Want to outperform your competitors with superior engineering?

If you find freelancers with expertise in architecture and engineering, you can take on more projects much easier. Freelancers, from a regional and global network
of architecture and engineering service providers, are ready to get hired on demand. Hire them for the following services:

  • CAD drafting
  • 3D modelling
  • Structural engineering
  • Mechanical engineering
  • Electrical engineering
  • Civil engineering
  • Architectural design
  • Prototype development
  • Project management
  • Technical documentation

 

Website & Networking

Searching for the best and brightest in networking?

Companies that require more assistance in finding freelancers that have high expertise in web development and networking may use freelance services. Freelancers enable companies to collaborate directly without third-party intervention and allow companies to provide feedback on their work. Here below are some freelance services:

  • Web development
  • E-commerce development
  • CMS development
  • Database development
  • Cyber security
  • Network administration
  • Cloud computing
  • IT support

 

Legal

Want to protect your legal rights and be accessible to legal advice conveniently?

There are several platforms that aim to bridge the gap between freelancers that provide legal services and companies. With these platforms where attorneys and law firms are ready to handle any legal work, you can make sure that you can find and hire the best freelance legal services to handle the legal issues of your company. Here below are some freelance services based on legal topics:

  • Legal research
  • Contract drafting
  • Contract review
  • Intellectual property
  • Corporate law
  • Employment law
  • Regulatory compliance
  • Litigation support
  • Mediation
  • Arbitration

 

Sales & Marketing

Seeking talents to take your sales and marketing techniques forward?

Sales and marketing are two key areas that you need to focus on for your business growth. If you follow the right strategies, your business will get skyrocketed very quickly. With relevant and dynamic sales and marketing techniques, freelancers will assure to help your business expand and meet the desired goals. Find out some sales and marketing services from the list of services given below:

  • Market research
  • Lead generation
  • Email marketing
  • Social media marketing
  • SEO optimization
  • PPC advertising
  • Branding
  • Explainer video
  • Analytics & reporting
  • Sales funnel optimization

 

Translation

Looking for skilled translators to expand your global reach?

As we are living in an interconnected world, business is highly globalised. One of the biggest challenges of every company is customizing content in local languages. With skilled translators, freelancers support all types of companies. Some following services will help you explore the world with customized content:

  • Document translation
  • Website translation
  • Localization
  • Multilingual support
  • Technical translation
  • Legal translation
  • Medical translation
  • Audio transcription
  • Subtitling
  • Interpretation

 

Mobile & Software Development

Want to handle client projects with global software developers?

Freelancers will help your business transform with mobile and software development services that give your clients digital experiences of your branding. They ensure that your users understand your app and software purposes and have amazing experiences while exploring it. Here are some freelance services:

  • Front-end development
  • Back-end development
  • Full-stack development
  • Mobile app development
  • Web app development
  • API development
  • UI/UX design
  • Database development
  • Quality assurance
  • Software testing

 

Writing

Searching for content writers who can craft the perfect words?

If you use different types of content for social media advertisements, e-brochures, digital marketing, and search engine optimization for promoting your brands, you can find out new customers to make revenue fast. Some freelance services mentioned here below will help you to find out different types of customers:

  • Blogging
  • Article writing
  • Copywriting
  • Technical writing
  • Concept development
  • Editing & proofreading
  • Creative writing
  • Press release writing
  • Scriptwriting
  • Academic writing

Trades & Services

 

Want to provide clients with exceptional trading strategies?

Growing your business with freelance business services will lead to having better clients to work with.  By utilizing some of the following services that successful freelancers have built, you’ll be able to make the right strategies to reach your business goals:

  • Financial consulting
  • Marketing consulting
  • Project management
  • Risk management
  • Business consulting
  • Technical analysis
  • Trading strategy
  • Portfolio management
  • Inventory management
  • Pricing strategy

 

Conclusion

By using freelance services, find a diverse range of talents and expertise for cost-effective solutions. With a world-class freelance marketplace, companies are empowered to excel in their tasks with highly effective freelancers.

DhuMall offers flexible and cost-effective freelance services for several business needs. Whether you need writing and editing services, design services, programming and web development services, project management services, virtual assistant services, or translation services, we have freelancers with different skill sets around the world.

DhuMall is the global marketplace for companies and entrepreneurs to explore various products, services, and opportunities from 200 countries and territories. Contact us to get your projects done by experienced freelancers.

Freelance Services
Dhunicorn 0 Comments
Mar 24 2023
Solidifying Company Culture in a Hybrid World

After the era of a global pandemic, global company culture is being redefined as a result of the rising number of employees that work from home. For three years, executives, managers, and HR professionals strive hard to maintain a healthy company culture in a hybrid work model. According to several studies, company culture can create а significant impact in driving returns on investment and sales. A healthy workplace culture improves productivity and drives performance to keep employees focused. It reflects the company’s health and potential for growth. Before solidifying your company culture, one must understand the benefits of a strong company culture in a hybrid work model.

Impact of work

The impact of work is a vital ingredient of company culture in a hybrid model. Higher officials or (How about ‘Leaders’) should teach employees how good company culture impacts the nature of work. They should be responsible for managing the new work environment and maintaining a healthy working atmosphere. As a result of the latest hi-tech workplace conditions, employees are more attuned to questions about the purpose and impact of their work, and they can statistically understand how their work impacts the development of the company and why they should keep doing it. Since they could understand the importance of team members’ work, its effect reflects overall outcomes.

Inclusiveness

Having communications online and conducting meetings virtually are important ways of promoting inclusiveness in a hybrid world. Online meetings connect everyone on one platform. This expresses that the voice of every employee has the same reputation in any context of group discussions, which reinforces a sense of drive. Inclusiveness joins the power of everyone to have great decision-making. Inclusiveness provides a company with several benefits such as increased employee engagement and trust, new perspectives and innovation, better decision-making, improved performance, stronger business results, profits, etc. A number of ways to improve efficient practices are to invest in such development programs or training. 

Accountability and Responsibility

In a hybrid model, company culture plays a crucial role in maintaining accountability and trust within the team. Without a strong culture of accountability, trust and connection can easily erode, leading to disengagement and poor performance. Therefore, it is essential for leaders to prioritize healthy conflict as a means of fostering open communication and promoting a culture of transparency. Failure to have this can largely impact team solidity and leaders should be the number one example for their employees by doing this, employees gain more confidence to socialize and engage more in their workplace. By encouraging healthy disagreement, leaders can ensure that important issues are addressed and resolved, rather than being ignored or blown out of proportion. In this way, a strong company culture in a hybrid model helps teams thrive and achieve their goals.

Accessibility of Higher Officials

As a higher official, it is highly vital that you are easily accessible. Your presence should be felt and be less intimidating to the staff. The accessibility of higher officials enhances the performance of team members, creating a greater sense of unity and can minimize the feeling of being left out and disconnected. In a hybrid model, it is very easy to achieve accessibility of leaders and executives, as you can every employee online in every meeting regardless of their positions in the company.  Regularly talking with employees, getting opportunities to answer their queries, and informing them that you welcome their suggestions are all important approaches by which you can help strengthen the culture of your company.

Remote Work

Remote work has become more prevalent in recent years, and the COVID-19 pandemic has accelerated this trend even further. Many companies are now adopting hybrid work models, where employees work both remotely and in person. Remote work can help to strengthen company culture by emphasizing communication, flexibility, diversity, inclusion, and teamwork. By adopting a hybrid work model, companies can leverage the benefits of remote work while still maintaining a strong sense of company culture. In this hybrid world, remote work can actually help to strengthen company culture in several ways. Managers, leaders, and HR Professionals should prioritize reaching out to the people both virtually and in-person because solidifying a hybrid work culture does not happen overnight. It comes with continuous effort, consistency, and empathy. 

Project Success 

Nowadays, every project’s success depends on an effective company culture that is based on a hybrid work model. As a business owner, you must consider what your company culture strategy is and identify two or three hybrid work models you need to drive project success. A successful company culture that supports project success can be considered by several factors, including:

  • Clear communication
  • Interpersonal trust
  • Adaptability
  • Continuous improvement
  • Collaboration
  • Rewards and recognition
  • Goal-oriented tasks

Suggestions and feedback

In a hybrid work environment, where employees are working both remotely and in person, a strong company culture can help to facilitate the exchange of valuable suggestions and feedback. Whether it is from a manager, customer or from colleague, every feedback from all avenues matters in nurturing people and bringing them to collaborate. A strong company culture in a hybrid world supports the exchange of valuable suggestions and feedback by creating a culture of openness and transparency, providing multiple channels for communication, encouraging active listening, and recognizing and rewarding valuable contributions. This can lead to a more engaged and productive workforce, as well as better decision-making and problem-solving and people can be aligned in achieving the company’s goals.

Conclusion

Solidifying company culture in a hybrid world is strongly related to the development of a company. Developing a hybrid company culture is not an automatic process but a continuous effort. Every leader must ensure that employees know how to create the desired culture in their work context and behaviour, regardless of their geographic locations. Why is good company culture important? Here’s how:

  • A strong company culture in a hybrid world will encourage open communication and transparency. When employees feel comfortable sharing their opinions and ideas, they are more likely to provide valuable suggestions and feedback.
  • In a hybrid world, it’s imperative to have multiple channels for communication, such as video conferencing, instant messaging, and email. This allows employees to communicate in a way that is comfortable for them, which can lead to more effective communication with multiple channels.
  • To receive valuable outcomes, it is important to encourage active listening. This means not only listening to what employees have to say but also asking follow-up questions and providing feedback in return.
  • In a hybrid world, it is important to recognize and reward employees who provide valuable technical support. This can be done through formal recognition programs or simply acknowledging the contribution in a team meeting or email.
Dhunicorn 0 Comments
Feb 24 2023
Key Steps for Successful Business Transformation

In today’s fast-paced, ever-changing business world, business transformation is immensely crucial for success. Companies tend to expand, move quickly, reinvent, boost organizational health, and keep expanding their goals. Then it should have measurable results. Every business makes some improvements from time to time that are mostly incremental. But some companies have to make dramatic, fundamental shifts in the way they operate to cope with the external and internal changes in the organization such as the emergence of new technology, market changes, merger and acquisition, low profitability, increasing expectations of customers, etc.

Depending on the factors that need to be focused on to fulfill company goals, changes may be carried out in a certain department of the organization or the entire organization itself. Businesses have to do suitable modifications to their processes, personnel, systems, and technology to achieve their business goals, smoothly.

To lead the business in the right direction, certain changes are essential, for example; getting into mergers and acquisitions, replacing employees or outsourcing, introducing new products to gain a competitive advantage or stopping a non-profitable product line, adopting a new business model, etc.

However, this is not a simple process and there are high chances of failure too. To avert such situations, businesses must ensue certain approaches.

Let’s have a look at the key steps that businesses must follow for effective business transformation.

Figure out which areas need to be modified, enhanced, or eliminated
Companies that have successfully gone through transformation move and improve quickly and restart often. Not identifying the area that needs to be dealt with to bring improvements will make the whole effort of transforming the business go in vain. So, to discern the same, business leaders have to go through the prevailing business processes.

This is a comprehensive and exhaustive course of action and existing workflows, methods, policies, and systems of everything right from crafting the product or service to the customer experience at the final end have to be evaluated. This helps in identifying the bottlenecks that hinder carrying out what needs to be accomplished. Thus displays a clear picture of what needs to be changed, improved, or eliminated.

 

Determine the expected outcomes
Comprehending what the desired expectations are help in establishing the appropriate process to make the business transformation. Alignment plays a big role in determining the outcome of a business transformation. The efforts should align with the right goal and intentions. Moreover, determining the anticipated outcome and orienting towards it can help in setting up significant and reasonable milestones.

The outcome the business looks forward to must be clear and precise. Likewise, persuasive data that confirms that the business transformation will work out as well as measurable metrics must be established. Using such quantifiable metrics throughout the process is crucial for successful business transformation. The transformation does not end in implementing changes, the goal is to get the business outcome out of those changes.

 

Involve the relevant people
Get specialists and leaders of various departments to make a meticulous and detailed transformation as well as a change management plan. Also, involve stakeholders as their valuable advice can be leveraged to effectively cut risks and optimize returns. These people should have a better understanding of what the company goal is and apply it to their jobs and do whatever is expected of them to deliver differently. If they have no idea how to connect to the transformation, then their habits and performances won’t change.

Employees are the ones who take the action journey to accomplish the targeted outcomes. So, it is equally important to communicate it to the employees and engage them to get their perspectives and innovative ideas. Also, the company must aim to meet the customers’ needs. Any endeavor for business process transformation must revolve around delivering the customers the experience they expect and beyond that. Hence feedback from customers must be taken into consideration.

 

Create specific strategic plans
Business transformation is immensely risky and if not done methodically and carefully with proper strategies may lead to business failure too. And so, it is imperative to make specific strategic and actionable plans to ensure that the business survives the huge shifts. Such plans can be beneficial in creating a detailed roadmap for achieving the company’s goals. Undergoing transformation without proper planning can result in the incorrect execution of strategies and move.

A primary estimation of the budget and schedule is vital during the planning stage. While planning, the areas, work processes, as well as systems that may get impacted by the process of transformation must be discerned.

Employees’ engagement and their capacity to adjust and adapt are indispensable, as the company has to face new challenges along the way of transforming business. It is important to plan the way of communicating the changes to the employees as well as customers. Apart from that the company also has to create a risk mitigation plan to manage unfavorable situations, if the business transformation did not work out as projected.

 

Develop an effective change management process
Business transformation involves colossal modifications in the company. Consequently, powerful change management is critical. A well-developed change management system facilitates tracking, measuring, and evaluating the transformations that are being carried out and figures out how the changes are impacting the entire workplace. Supervising a significant company transition can boost people’s productivity and create a meaningful bond that can enrich performances if being handled properly.

Successful business transformation is not feasible without making certain that the accurate information gets to the relevant workforces at the apt time. So, the relevant teams that execute the change must be capable of communicating effectively.

 

Executing the proposed process
It is essential to involve the workforce in the whole process however hastening the implementation step is not wise. All it does is put immense pressure on the current operations and the employees which can eventually bring up problems such as employees’ resistance towards change.

Business transformation incorporates several steps and activities and so can never be expected to happen instantly. It requires years of dedication to executing the resolved strategies, although it also depends on the factors such as the size of the company, the resources available, etc.

It is hard to make sure that the change is creating a favorable outcome on the operation if several changes are instigated simultaneously to the existing system. On the other hand, a steady and systematic approach helps in ascertaining that every single change is perfectly implemented, measured, and modified as required before progressing on to the subsequent activity of the established plan. It is also equally important to re-evaluate the implementation plan on a regular basis so that necessary alterations can be made along the process. A business can make use of Key Performance Indicators. The business transformation project is only as good as the metrics used to evaluate its development and alignment with its goals. Making use of performance evaluators at the beginning and during the transformational phase must be taken into consideration to achieve success. For many companies, reduced expenses, better profits, and progressive customer feedbacks are decent indicators of business growth. 

For many businesses, executing business transformation may not be an option but a necessity to keep going further. Although weighed down with risks, if implemented correctly and strategically, following the key steps, can unlock new opportunities and bring about incredible growth and success to the company.

Dhunicorn 0 Comments
Feb 17 2023
Must-have Digital Technologies for Optimizing CX in 2023

A digital-first approach is a key marketing aspect in 2023, as it empowers companies to reach and engage with customers through various digital channels. The majority of customers expect quick and convenient access to information and services. Hence, digital channels can help companies advance customer satisfaction, stay ahead of competitors, and drive growth. In this article, let’s study the top ten must-have digital technologies for optimizing CX in 2023. By embracing these ten tools and technologies, companies can increase the quality of customer service without increasing costs.

  1. Contact Center as a Service (CCaaS)

CCaaS is a cloud-based solution that allows companies to use the software provided by a CCS provider. It is another option for an on-premises call center and bundles an entire communication solution fixated on scalable customer experience. By lowering the amount of technology, companies can reduce the requirement for internal IT support. Due to the ability to pay for the essential technology in a consumption model, they can provide better service to their clients with minimum investment. It will also empower companies to provide an omnichannel communication strategy while delivering an excellent customer experience.

  1. Marketing automation software

This type of software helps companies send messages to their target customers based on their purchase history, demographics, and interests. It is user-friendly and can create campaigns with just one click. It has a streamlined user interface and drag-and-drop components which is very much the same as the other apps being used nowadays. With the support of this software, all types of companies can develop and execute marketing campaigns quickly and effortlessly.  So companies can reduce their time consumption for customer service so that they can focus on solving critical issues.

Benefits of Marketing Automation Software

  • Better customer experience
  • Cross-channel marketing campaigns
  • Full control of customer interactions
  • Value-added accountability in the workplace
  • Increased lead-to-sale conversion rates
  • Marketing and sales alignment
  • More space for creativity
  • Smooth customer service
  • Customized marketing strategies
  • Precise reporting
  • Reduces staffing expenses
  1. Chatbots

Chatbots work with the support of AI to have conversations with human customers via the internet. Companies have developed various chatbots for customer support activities and large number of brands have invested to Chatbots to improve their customer experience. Several firms, due to the ability of chatbots to respond to client inquiries, have installed on their websites to meet modern consumer needs.

Benefits of Chatbots

  • More generated leads and increased sales
  • Better customer insights with 24/7 availability
  • Better user experience because of multilingual support
  • Enhances operational efficiency
  • Cuts expenses to businesses while giving convenience to customers
  1. Customer relationship management (CRM) systems

Managing customer relationships is one of the key technologies that provide a great experience to companies. It assists customer-centric companies by placing customers at the centre of the business with proper strategy and plans.  Technology nowadays can improve human potential by having the proper CRM technology and tools that are capable of doing the processes and helping people to focus on their priorities requiring human touch.   A CRM system empowers companies to keep track of all types of data related to customer interactions. It also helps companies handle their pipeline, discover opportunities, and quantify the success of digital marketing campaigns.

Benefits of CRM

  • Automated sales reports with more accurate sales forecasting
  • Better customer service with increased sales
  • Centralized database of information
  • Higher productivity and efficiency with detailed analytics
  • Streamlined internal communications
  • Helps manage campaigns across sales and marketing
  • Consistently generate quality leads and opportunities
  • Customized customer experience
  1. Email marketing software

Email will always be an essential digital marketing component despite the fact that there are new online platforms being launched. It’s a recognized method of boosting customer acquisition and engagement. Email marketing software empowers companies to design and send customized email messages to their customers. With various types of messages such as product announcements, coupons, or information about upcoming events, it supports companies to track the success of their marketing campaigns. It also helps companies to identify the right customers that are likely to respond to particular types of offers.

Benefits of Email Marketing Software

  • Collecting feedback and surveys
  • Communicating with your audience
  • Creating personalized content
  • Generating traffic to your site
  • Having a setting for self-promotion
  • Producing cost-effective and timely campaigns
  • Providing more value to your audience

 

  • Reaching the right people at the right time
  • Heightens Brand Awareness
  • Minimize expenses for the promotion campaigns and overall business
  1. Mixed realities

Mixed realities, the combined forms of Virtual reality (VR) and augmented reality (AR), transform how customers and sales reps communicate and interact. Basic examples for this are virtual makeup applications and Snapchat or Instagram filters. In order to come up with a mixed reality experience, you don’t need to stress about physical hindrances, but you will be needing artificial intelligence and cloud computing. This technology will reimagine how sales reps or agents can interact with customers more effectively by adding more visual value to their communications. Companies can suggest better solutions with the support of an immersive visual user experience.

Sectors that need the support of Mixed Realities

  • Construction
  • E-learning
  • Entertainment
  • Healthcare
  • Manufacturing
  • Retail
  • Sports
  • Tourism
  • Construction and Engineering
  • Training
  • Marketing
  1. Self-Service

Customer self-service portals have become an excellent section, as they enable customers to help themselves. Self-service technology puts a control power in our hands. It permits is to perform various tasks without needing the help of another human being and almost all of us come across self-service technology daily from digital touchpads that can take orders in restaurants to gas stations with credit card readers. Without any fair knowledge of technology, customers can easily browse through the knowledge base, use self-service tools, and contact customer support team if they want to know more details about products and services.

Benefits of Self-service

  • It boosts website traffic.
  • It advances agent productivity.
  • It leverages personalised information.
  • It decreases customer service costs.
  • It imparts new skills to customers.
  • It provides bigger customer retention
  • 24/7 availability
  • It heightens customer satisfaction

 

  1. Speech analytics

We can define speech analytics as a contact hub intelligence instrument that uses technologies such as audio analysis, data visualization, natural language processing and automatic speech recognition. It is widely used for automated surveys, letting customers respond to survey questions via call and extracting insights. Speech analytics can reveal keywords or themes that normally provoke certain feelings. With the support of speech analytics, companies can identify emotional signals, customers’ sentiments, and positive interactions.

Benefits of Speech Analytics

  • Identifying customer needs and interests
  • Offering personalized services
  • Understanding customers better
  • Supported training data and performance improvement
  • Provides feedback to fasten up sales
  1. Customer experience management (CXM) systems

For the past years, companies have been prioritizing the relevance of managing cuthe stomer experience and software firms have been working on creating a CRM software to help businesses handle their customers. A CXM system goes beyond managing CRM. With the ability to collect feedback and data from all customer touchpoints, it can provide a holistic view of the customer experience. CXM focuses on the listening part and hotels, airlines and F&B industry are realizing its value to customer experience. CXM is driving growth for companies such as retail, CPG, media, technology, healthcare, and financial services.  It can advance marketing campaigns, customer interactions, and website design.

Benefits of CXM

  • Better customer engagement
  • Higher customer retention
  • Improved crisis management
  • Increased brand equity
  • Reduced costs of service and marketing
  1. Customer data platform (CDP)

A customer Data Platform (CDP) is a set of applications that works together to develop a unified permanent customer database. It helps a business to get to know their customers more. CDP’s main function is to construct an integrated client database that can at the same time address multiple downstream problems. This database will have an access to other applications. Data gathered from various sources is cleansed and merged to provide a comprehensive consumer profile. This data is subsequently accessible to other marketing platforms. With the support of the insights from the CDP, companies can predict customer behaviour and perform a host of tasks based on data.

Benefits of CDP

  • Eliminating data silos
  • Ensuring data protection and privacy
  • Increasing operational efficiency
  • Customized communication
  • Systematize processes
  • Come up with time-suitable marketing messages
  • Heightens customer engagement

Conclusion

The above digital technologies can play a key role in the process of customer experience optimization. By leveraging these ten technologies, companies can improve their interactions with customers and enhance their customer experience. Nevertheless, companies should be aware of the appropriate technologies that will be able to reach and engage their target audience for their every promotion, since every type of promotion needs unique channels. And also companies should ensure that they have properly implemented these technologies for getting better results.

 

Dhunicorn 0 Comments
Feb 9 2023
10 Steps to Become a Unicorn Company from a Start-up!

Unicorn startups are well-respected in the world of business. Becoming a successful unicorn needs several factors – customer-friendly branding techniques, a unique business model, growth-driven strategies, and on top of these, a unicorn refers to a start-up with a valuation of $1 billion or more, and so on. All over the world thousands of new companies come up with new services or products every year. However, most start-ups fail due to poor strategies and outdated business models and only a small percentage of start-ups could become unicorn companies. The fact that a business has only a 0.00006% chance of transforming into a unicorn, can be really challenging. If you want to give your company unicorn status, it’s important to be aware of how your products or services will make a better world. In this article, let’s see 10 steps you should follow to become a unicorn company.

  1. Specific Target Audience

More than 60% of unicorns depend on a B2C business system. These companies provide reasonable and latest products and services to everyday consumers. To become a unicorn company, create products or services that consumers want for their essential needs and discover ways to identify the specific target audience for your products or services. Every unicorn in the world offers a strong value proposition or a promise of how its products add value to the needs of customers. If you want to stay in the game, understand who your specific target audience is and how you can add value to your products for them.

  1. Introducing New Technologies

In the past two decades, all venture capitalists focused on investing in high-tech industries based on the basics of digital life.  This is the right time to introduce new technologies based on the advancement of digital life with more advanced technological features in fintech, industrial tech, health tech, mobility tech, digital commerce, and entertainment and media. Hi-tech is now influencing several verticals that make human life better. The better technologies you introduce the better unicorn you can develop. In a recent survey, it was said that roughly 90% of unicorns are software providers. May it be CRM systems, cloud computing, or any business software, all these leveraging technologies improve businesses dramatically.

  1. Solve Existing Problems

Products that solve existing problems will naturally gain customers. Every brand is a kind of service to the human race if we understand the nature of business in detail. Hence, every problem can inspire you to start a business. If your product can solve big problems that your competitors cannot, you have identified the right strategy that can make your brand become a unicorn. After solving the problem initially, you may continue advancing the features of your product by adding some elements that customers need. A perfect example of knowing their target audience is Canva. Its products were able to solve real and present problems and they have delivered the perfect product to the right customers. Canva taught us that if your product was able to solve big problems, by the time you launch, you will surely have ready audiences that will surely care about your business.

  1. Unique and Disruptive Business Model

Nowadays business disruption is the most effective business model that will become unicorns because it pertains to innovation in an industry that drastically affects the way it functions. Disruption refers to business innovation that fundamentally transforms the way that the industry or market functions. Every disruptive business provides simple yet creative solutions and cons-effective solutions that meet customer needs. Discover a new business disruption to develop a unicorn company.

  1. Secure Funding

Securing funds is an indispensable part of every start-up. And a unicorn’s value is often based on how venture capitalists and investors see themselves develop and grow from it. This is where longer-term forecasting comes in. As a start-up owner, you must know how you can secure proper funds to ensure the perfect functions of your company. Especially for start-ups that have a goal of becoming a unicorn, having sufficient funding is the most important step. There are various funding solutions available now.  You may choose wisely to make your company become a unicorn in the long run.

  1. Growth-driven Strategies

To develop your company as a unicorn, you should establish growth-driven strategies and set a long-term vision for your company. A growth strategy is an action plan that could help a company to grow continuously. Most unicorns have a clear vision and have achieved growth by obtaining tested validated sales channels and marketing strategies.  If a company applies the strategy appropriately, the company may acquire a huge number of customers and it will increase sales and revenue over a specific period. Growth-driven will unleash exact, quantifiable, and focused development to become a unicorn company from a scratch. 

  1. Hire the Right Talents

To build up a successful start-up, you need a strong team with the right talents that will help drive growth. It is important to hire employees with not only the skillsets you need but also the same values you are looking for implementing your company missions applicably. Keep in mind that the employees with the right talents will be able to forward your company to the next level since they want to provide the best to attain the next level in their careers.  If you will hire and lead people who are in on the same page as yours, then you’ll be able to join forces more effectively and reach your goals. 

  1. Business Relationships

Building relationships and establishing a strong rapport are two if of the most important aspects of developing a successful unicorn and these can be useful also during the trial-and-error stage. Having a strong business network will support companies to find suitable business partners, potential clients, and all types of investors. Developing a strong rapport with various business innovators and leaders can be highly beneficial for start-ups since new companies can gain valuable business insights from these business legends.

  1. Branding and Marketing

Many startups fail to capture their place in the market since their branding and marketing departments don’t perform well. Establishing the brand identity of your company and developing a detailed and long-term branding and marketing strategy will make you go on the right path. Once you have established a powerful image of your brand, you can start executing a marketing strategy based on your target audience. An excellent product concept can give a convincing reason for people to go for your product or even change preferences based on their status quo and market alternatives. 

  1. Scale Your Start-up

Scaling a business requires planning, some funding, skilled employees, enhanced processes, the latest technologies, and long-term goals. Scaling a business with the right sales and marketing strategies will support your company to become a unicorn company since it gives you a clear picture of building an accurate strategy that outlines key milestones. It can also align your short-term and long-term goals so that you can gradually reach the status of a unicorn.  

By having a large and untouched market with a fascinating value proposition, a quick word-of-mouth can be prompted which leads to attracting more buyers and potential clients then becoming the choice of the majority, and then eventually, passing the scalability test.

Conclusion

There is no exact formula to develop a unicorn company. However, the above steps and examples can help your company forward to the next level. If you want to stay competitive in your business model, you need a strong understanding of what your business concept is. Once you develop a powerful solution to address the existing problems and scale up, you will set a new path to reaching unicorn standards.

Dhunicorn 0 Comments
Feb 3 2023
Top Artificial Intelligence Trends to Capture the Global Tech Market

Artificial intelligence is the hottest technology in the global tech market. It has transformed the corporate world with innovative processes and gadgets and made everyone’s life more convenient. AI models provide the world with autonomous systems, cybersecurity, automation, RPA, etc. With artificial intelligence trends to boost productivity and efficiency, tech companies are changing the way we live. This article will help you to understand the power of artificial intelligence by explaining the current trends and the following are the top artificial intelligence trends in 2023 in the tech market:

Predictive analytics
Predictive analytics is the most important trend of artificial intelligence since it is highly helpful for better business and market research. It has gained a number of attention in recent years in the areas of machine learning and big data. With the support of data, statistical algorithms, and machine learning techniques, companies can make decisions for future outcomes. The key theme of this technique is to utilize the trends of the past to provide the best in the future. This trend has captured the attention of business analysts and market experts.

Embedded Application (EA)
The essential attributes of Embedded Application are fault tolerance, real-time, reliability, portability, and flexibility. This AI software application perpetually resides in a consumer or industrial device. This AI-based software and is programmed to have a special function in a device with a specific purpose that must meet size, time, energy, and memory constraints. There are different types of embedded systems in various gadgets and devices such as smartphones, digital cameras, digital wristwatches, embedded medical devices, and sensors. Embedded systems are transforming our lifestyles by creating newer opportunities and challenges. This is one of the best AI trends to follow if entrepreneurs want to play well in the tech market.

The Metaverse
Metaverse is an immersive virtual world in which everyone can work, play, live, transact, and socialise, enabled by the practice of mixed reality (virtual reality and augmented reality). Here, users are linked to their avatars or other digital illustration and the information gathered about their activities is personal data, which is accountable to data protection and privacy laws. It is the next evolution of the digital world, facilitated by multiple technologies including blockchain, artificial intelligence, smart objects, and edge computing. In a recent market study, the Metaverse Technology market had a valuation of $32 billion in 2021 and is possible to become $224 billion by 2030.

In the next decade onwards, the Metaverse is likely to provide the most incredible business opportunities to make the world evolve with innovative business concepts. Furthermore, a number of remarkable technologies are introduced for taking place within the Metaverse that could provide innovative business opportunities. Companies can enter into the Metaverse trends that are going to make our life prosperous in the future.

Security and Surveillance
A new level of security and surveillance has also become one of the best trends in artificial intelligence technologies. Surveillance technology is a software useful for monitoring activities, behaviour, and handling information. With video surveillance that combines biometric authentication using face and voice recognition with automated image analysis, we could more accurately identify objects. With the support of video capture and analysis software, we can help secure large public and private spaces by spotting potential threats. Companies may focus on this trend to protect every organization with the security and surveillance techniques of AI. It is said that this year, the global surveillance technology market had a valuation of over 130 billion U.S. dollars.

Manufacturing
Manufacturing has changed and entered a dynamic phase. It has promoted innovation and productivity in today’s economy and a global transformation is in progress to authorize manufacturing with AI.  AI plays various roles in manufacturing sectors. For example, automated production control is used to monitor equipment and check for quality control. AI-powered inspection is used to control the suitability of components for assembling cars and to sense product defects on the conveyor. In manufacturing, AI also plays a major role in using technology to automate multifaceted tasks and unearthing formerly unidentified patterns in manufacturing processes.

Fintech
It is a must for any financial industry to ensure its traditional priorities such as the speed and accuracy of transactions, the prevention of errors and abuses, the preservation of data privacy, and the responsibility for the confidentiality of transactions. The fast growth of Fintech in several sectors has created many benefits that include:

  • The key benefits of vendors are faster processes in accessibility and loan approvals. On account of a quick and hassle-free process, users become more adaptable to this new fast-paced technology.
  • In a one-stop platform, users can enjoy a very easy payment method and feel a better experience whenever they process different types of payments from various devices such as smartphones and tablets.
  • Several latest systems depend on chatbots and robot advisors to help users understand their finances. As Fintech comes with a very low-cost option, customers get more useful functions.
  • Fintech is powerful software that is very helpful for companies to collect payments accurately. It also helps everyone to know their updated account status.

It is predicted that the Global Financial Technology market will grow progressively and is expected to reach approximately $324 billion market value by 2026.

Healthcare
There is an improved uptake of AI technologies in the healthcare sector and the efficiency, accuracy, and convenience of AI in the healthcare sector played a big part in the driving factor for its growth in the global technology market. Artificial intelligence has already proven that it is a great boon to healthcare providers since it could facilitate care more efficiently and allow patients greater access to safe medical care. It will transform many aspects of patient care together with the related administrative processes. The potential benefits of artificial intelligence in the healthcare market are enormous as it:

  • Develops healthcare sectors with more trustworthy methods.
  • Provides patients with medical records of all communications and prescriptions.
  • Offers a great deal of transparent communication related to patient billing.
  • Allows healthcare professionals to access the patient’s data easily.
  • Provides data which that cannot be altered by anyone.

AI and IoT
Artificial Intelligence and the Internet of Things have provided magnificent changes in today’s business environment. When we connect any internet-connected devices with other gadgets wirelessly, the gadgets in this system can transmit and receive data from each other. With the support of IoT, workplaces and modern management have become smart with various hands-on facilities. It also supports companies to reduce operational costs and enhance overall efficiency and productivity. As IoT comes along with blockchain technology, companies can advance IoT industry processes to protect communications, modernize the software, and monitor usage and functions on the whole.

The AI in IoT market size is said to grow to 34 Billion USD in 2027 and the growing need of refining the human-machine and machine-to-machine interaction across households, healthcare and transportation activities will fasten the growth of AI in the IoT market for the coming years.

Conclusion
Artificial intelligence is capable to transform any type of organization. It has the key to unlocking a digital world where we can make more informed decisions based on data. The domination of AI affects every sector, from manufacturing to finance, bringing about never before seen increases in efficiency and productivity. Since every sector starts experimenting with this technology, the trends of AI keep evolving. Embrace AI, the benefits of AI to business are immense if used wisely.

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Jan 17 2023
The Latest Trends in Last-mile Delivery

Last-mile delivery, the movement of products from a hub of transportation to the last delivery destination, has become one of the important e-commerce systems. Because of the growing demand for integrated delivery systems around the world, there is an upsurge in last-mile logistics because this is a key differentiator for ecommerce companies.

It is expected that the market size of the last-mile delivery market is to increase by USD 165.6 billion between 2023 and 2027. The growth of the market may be based on several factors such as the rising number of various e-commerce companies, consumer behaviours, emergencies, and the growing need for warehouses.

Why Last-mile delivery?

  1. 73% of the global population is shopping online.
  2. The market is expected to grow continuously even after this decade.
  3. 45% of online shoppers are interested to buy from a company again if an order is late.
  4. 41% of consumers are ready to pay an extra charge for same-day delivery.
  5. According to 45% of online shoppers, retailers meet delivery expectations.
  6. 56% of Gen Xers and 55% of Millennials like online shopping.
  7. In Countries like the US, almost 157.4 million shoppers expect free two-day shipping on their orders, and some areas even prefer one-day or same-day shipping.

Without vehicles’ existence, shoppers won’t be able to receive their orders, and that is the reason why a trustworthy fleet of transportation vehicles is essential for the success of last mile delivery. It might be challenging to deliver on fast turnaround times, but it’s worth it from some brands’ perspectives such as Amazon Prime became an example wherein consumers don’t mind paying in excess for quicker delivery. Businesses compete in such a way that their tactics and eCommerce operations are customer-centric, 100%. 

Here are the latest trends in last-mile delivery that supports companies to keep up with growing consumer expectations to get their orders faster. If you want to take your company forward to the next step, these trends may help you find out the right techniques.

Environment-friendly Deliveries

Environment-friendly deliveries have created a big impact on retailers and logistics services providers and the approach to eco-friendly last-mile delivery strategies is a relevant business and societal challenge. By encouraging green deliveries, corporates want to achieve zero greenhouse gas emissions. More importantly, creating solid sustainability goals which consist of an eco-friendly last mile is a vital step in the fight against climate change. Businesses with business models that promote sustainability often win customers and it boosts their brand image. Nowadays, companies keep focusing on providing environment-friendly deliveries with the support of reusable packaging material and reducing CO2 emissions by utilizing delivery trucks that use green energy. According to a study conducted by the World Economic Forum, the need for last-mile deliveries may grow by 78% by 2030. The following are some environment-friendly techniques that companies can adopt for sustainable delivery methods to support an eco-friendly last mile.

  • Monitoring an inventory of your current carbon footprintcan make you aware of what sustainability goals your company should adopt to save the planet.
  • Discovering some essential steps to decrease your carbon footprint is the next important aspect of a sustainability initiative.
  • Since general packing requirements may become a threat to our environment, identifying sustainable packing is a critical aspect of last-mile sustainability.
  • Adopting strategies for utilizing green energy to reduce emissions as it makes a great impact in your company atmosphere as well.
  • Communicate and give consumers a slower-speed choice which can contribute to decreasing harmful emissions. Researchers at MIT discovered that fast shipping not only increase expenses by up to 68%, but it also increases total carbon emissions by 15%.

Drones and Autonomous Vehicles

According to a study, almost 3250 parcels are transported globally every second. It is expected that it may be doubled by 2026. With a traditional approach to delivery, companies are not able to manage such a big volume of parcels. Consequently, e-commerce companies have taken modern approaches through autonomous vehicles, drones, and delivery bots. Drones and autonomous vehicles have been excellent solutions for last mile delivery. They have given benefits such as efficient delivery, cheaper operational cost, and environment-friendly technology and these are the primary reasons why they will have a positive impact on logistics.

In the future, e-commerce companies may adopt much more smart technologies and tools to enhance customer experience with last-mile delivery. It is expected that the global market size of autonomous last-mile delivery may reach $68+ Billion by 2028. E-commerce companies also keep trying to invent new devices and vehicles that can support fast and sustainable deliveries.

It was forecasted that last mile delivery will get more programmed through the execution of delivery drones. The heightened use of unmanned aerial vehicles (UAVs) for quicker delivery of goods is one of the main factors in the drone market’s growth.

Fast Deliveries

The rising number of consumer demand for receiving anything quicker has resulted in e-commerce companies focusing more on faster deliveries. “The faster the happier” has become a watchword for every customer in the digital world. Fast deliveries are a must for businesses that deliver the products of quick needs. It is expected that the market size of global same-day delivery may grow at a compound annual growth rate of 20.3% from 2020 to 2027. Because of increasing urbanization, fast delivery is a must for companies such as:

  • Direct-to-consumer model retail companies
  • Food delivery companies
  • Florists
  • Pharmacies

To conclude, last-mile challenges can be hard to handle if you are not knowledgeable about them. It is important to keep in mind that there’s no such thing as last-mile solution but you can apply these practices that can get positive results:

  1. Work harder to meet consumer demands efficiently
  2. Make on-time deliveries
  3. Delivery logistics’ smart automation

These right practices, when combined with an appropriate app, can lessen the risk of last-mile problems and start flourishing during the most challenging phase of the delivery business.

Urban Warehouses

When it comes to online purchases, most customers demand same-day deliveries. Hence, companies need to arrange warehouses and hubs closer to the city. Urban warehouses have become a key place for guaranteeing fast logistics services in every urban hub. It is strategically positioned for the businesses, between its distribution center and the bulk of its clients, being an effective solution for complying with ecommerce business standards: same-day deliveries and trouble-free product returns. With the support of urban warehouses, companies are able to minimize the risk of damaged goods. It is an innovative approach to provide fast and professional services based on customer demands since retailers can gain quick access to a large volume of customers. Urban warehouses and fulfilment centres are two essential sources that can play a great role in fast deliveries anywhere in the world. The rise of ecommerce is one of the important reasons why urban warehouses have become well-known in supply chains nowadays.    

Smart Tracking

E-commerce companies have adopted advanced technologies such as smart tracking to improve their last-mile delivery. With smart tracking, some important features such as real-time tracking, visibility, and route optimization are supporting them with seamless deliveries and fleet management. It also contributes to increasing cost-effectiveness, enhancing driving management, inhibiting auto theft, lessening vehicle idle time by route optimization, and boosting consumer satisfaction. By keeping the customers informed about the correct location of an item in transit by providing more visibility, e-commerce companies have developed a sense of secure deliveries among customers. As it helps ensure that products are delivered to customers on time and professionally, smart tracking helps improve customer satisfaction levels.

Conclusion

When it comes to last-mile delivery, technology plays a key role to break boundaries. With the support of the latest technologies, the last-mile delivery system keeps growing to meet consumer demands. It is expected that this system will continue with the growth of e-commerce because of its increased needs. And also, to keep ahead of competitors, it is a must for every company that wants to achieve in the digital world. Hence, companies are to stay on the latest trends in Last-mile delivery to advance sales and marketing.

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May 16 2021
Can Content Automation Do Better Marketing?

“Technology, through automation and artificial intelligence, is definitely one of the most disruptive sources.” – Alain Dehaze

In the past, converting content into a marketing material was so tricky. It consumed our time and the cost of using various writing utensils and printing services. Once we started surviving in the digital life where content is king, the marketing industry entered the digital world and digital publishing services became a great boon for content marketers in every sector, thanks to the technology that changed the scenario and revolutionized the way every marketing industry followed earlier.

The new lock: where is the key?
Currently, the scenario comes with new challenges. When it comes to content marketing, present online content marketers face new marketing and production challenges because of a plethora of content in the digital world. On the one hand, content marketing is one of the essential parts of any industry, but on the other hand, it has currently become a complicated process since the variety of content goes unlimited and the way how the content is consumed by people has become unimaginable.

A large amount of the content generated today is consumed in its digital form. Digital content publishing has gradually entered into every sector such as IT, entertainment, business, and education. The form of content has evolved as variety of formats in different platforms and has created complex production processes that need special workflows for the variety of content produced. Every step in production of digital content requires customization and careful examination to suit the output required by the marketers.

Content + Automation process = ?
Content marketers need to overcome these challenges with innovative tools and ideas if they want to rule the kingdom of content. Here, automation, an obvious answer for many of the problems currently faced by publishing houses and content marketing industry, comes as an ultimate problem solver which makes content production smooth, uncomplicated, fast and easy. Content automation supports digital marketing strategy which integrates big data, blockchain, artificial intelligence, and natural language in order to accelerate the process of both production and distribution.

For the past few years, the ship of content marketing has definitely steered in the direction of automation. Around 51% of digital companies have started using marketing automation, according to statistics. If information is reliable, relevant, insightful and actionable with a proven and powerful method, customers will be attracted to marketing strategies. Here, technology plays a major role in providing fruitful data to customers.

With one-stop automation services processing in the cloud, all the processes in publishing which can be automated are scripted to work on the infrastructure of cloud computing. Workflows are developed by lining up different types of processes in the expected flow. The platform is exclusively designed to carry out a variety of automated tasks – composition, transformation and enhancement based on tailor-made automated workflows. Irrespective of at what stage your content production lines currently, automation can be applied at any phase of production, either the entire process or adopting it progressively, platforms and features that can be tailored to suit the expected demands.

In fact, recent content market demands have necessitated the inclusion of elements in content like info graphics, images, and GIFs, and interactive elements like videos and games. The content we produce is to be enriched with dynamic indexing, metadata, and semantic empowerment. In the method of content production with automation, the content is empowered with all the strategies that need for effective marketing. With the support of automation in content production, content marketers are able to streamline and accelerate the entire workflow, from the initial draft to the final output that they need.

Benefits of content automation in marketing
Content automation with a set of technologies supports for automating manual processes in content marketing. Its key aim is to automate the process of production and distribution in every stage and to keep the content up-to-date without the support of human intervention. Here let’s study some of the most important benefits of content automation in marketing.

  • Content automation improves the credibility of your product or service with content marketing strategies and can make your brand trendy.
  • Technically, it helps put sales on autopilot, sharing content across multiple digital platforms and optimizing content with SEO techniques. Your brands can catch a good place on Google search engine.
  • It converts content into other formats such as translated versions, audio or graphics, proofreading content to solve spelling and grammar issues and publishing content with reminders and notifications
  • Content automation supports your branding pages to receive more visibility and makes your social media engagement following.
  • With content automation, you can manage the entire process of your content strategy since you can virtually track every possible statistics on your campaign.
  • With the support of content automation, you can have the chances of converting high-quality qualified leads into sales. Content automation drives sales on specific products or services, empowering you control the way you sell.

Content automation tools for marketing

Content automation tools for marketing make a task a little more painless.  Here are some effective tools that you would help you streamline marketing functions.

  • io: It helps you send messages to targeted customers for specific products in a customer-friendly way.
  • Constant Contact: It is an email-marketing automation tool that helps you take your marketing to the next level.
  • Marketo: It is a sort of marketing software that lets you drive revenue with lead management.
  • Dialog Tech: It can be highly useful when you focus on voice-based marketing automation.
  • Oracle Eloqua: It lets marketers plan automated as well as personalized campaigns.
  • Bizible: Bizible is a tool that supports you to close the gap between sales and marketing.
  • Bremy: It lets you configure a customized content marketing package of database publishing, email newsletters and video editing.
  • Genoo: It enhances the success of your marketing plans.

Conclusion
With delivering excellence of designs and formats, automation services have become a better platform for content marketers to motivate the community with new words. The content is not only described words but also an art with alluring designs giving a new shape to the world. With a new perspective of content, we can imagine a better world and make reading fun for aspiring readers. Start-ups are increasingly turning to marketing strategies with content automation. The more marketing functions become automated, the more the marketing teams can focus on marketing strategies and digital marketing campaigns.

Content marketing is essential for a company to executing any long-term marketing strategy, but it is difficult to identify the most effective working content. In this case, automation will provide the data to answer your questions and enhance your content marketing processes. With the support of automation, you may:

  • Identify cost-effective and customer-friendly channels and campaigns.
  • Find out how your content influences buyer behaviour, and helps to increase leads on a particular content marketing campaign.
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May 14 2021
Data Mining Techniques for Stock Market Analysis and Prediction

“Data is a precious thing and will last longer than the systems themselves.” – Tim Berners-Lee, inventor of the World Wide Web.

Analysis-based stock market prediction is essentially important since it can deal with the huge amount of money and stock buyers need a systematic and more accurate prediction. Because of high-risk investments, companies and individuals use different types of algorithms to predict the stock market. With the rising number of factors on global economy and the revolution of information technology, the number of financial data gets generated and accumulated forever at an extraordinary speed. Consequently, there is a compelling need for IT-based methods for monitoring massive amount of financial data to support companies and individuals before they take any strategic decision and investment planning.

The economy of every country is linked with the performance of stock markets. And also, apart from companies, common people are also interested to buy shares as a small investment. Consequently, analyzing stock market is not only related to macroeconomic parameters but also associated with everyday life. Therefore, there must be a systematic approach to reduce the uncertainty in stock market. Nowadays data mining has become one of the important technologies among various sectors and non-business organizations. Data mining techniques rely on data collection and warehousing with the support of computer processing. With these techniques, we can get the benefits of reduced cost, increased revenue, and stock market awareness. Applying data mining techniques for stock market analysis and prediction reveals some useful tips and predicts trends in the future and behaviours in stock markets. There are various data mining techniques in the world. Let’s study five key data mining techniques for analysis and prediction.

Neural Network in Stock Market

The neural network, one of the efficient data mining techniques, is used by companies for almost one decade. This technique is successfully applied in various learning applications for understanding a subject as per the way how our brain functions work. As it is a computational method, it is highly effective during this digital era. At the same time, it combines the features of brain functions and the structure of digital content. The key benefit of this method is that it can simultaneously forecast selling and buying signs with the prediction of future trends and decision-making tips for stock investors. There are various neural network-based architectures such as convolutional neural network, recurrent neural networks, multilayer perception and long short-term memory for predicting the stock price of companies.

Advantages of Neural Networks

  • Neural networks can work beyond the input and can produce the output.
  • The loss of data does not affect its functions since the data is stored in networks.
  • These networks can keep learning by observing examples.
  • We can get multi-skilled work from these networks.
  • Every piece of information is useful in the network.
  • These networks store information on the entire network.
  • Cost and time benefit. You can not only save money and time but also have your work done faster and error-free with quality and accuracy in results.

Decision Tree in Stock Market

Decision tree method is the best method for making decisions as it can deal with a lot of complex information and it is as simple as a ‘flowchart’ to assist you in making conclusions. It is used for building stratification and regression models to be used in data mining and trading. With the effective structure of decision tree, we get empowered to take systematic decisions with an accurate, balanced picture of the risks and rewards. When it comes to decision tree technique, the root of a decision tree is based on simple questions and related answers. Also, each question leads you to study another set of questions. Hence, this method is a simple technique for solving complex problems.

Advantages of Decision Tree

  • It works without the need of normalization of data.
  • It works without the need of scaling of data.
  • It is a simple method which can be easily explained to any technical team
  • It needs less effort for data preparation compared to other methods.
  • It makes us curious to take any decision as it is based on questions and answers.
  • It requires less training period.

 

Factor Analysis in Stock Market

This type of analysis is mainly useful in contexts in which a few common causes of variation determine a huge number of variables. Recently research on factor analysis concludes that a large number of information can be successfully summarized by a small number of approximate factors. It is a method which depends on a statistical approach and explains fluctuations among variables. Generally, there are four types of factor analysis such as exploratory factor analysis, confirmatory factor analysis, multiple factor analysis and generalized procrustes analysis.

Advantages of Factor Analysis

  • We can use both subjective and objective attributes.
  • We can use this algorithm to recognize the hidden dimensions which sometimes may not be available from direct analysis.
  • We can get accurate results using this algorithm.
  • It can be used to identify hidden constructs which may or may not be necessary from direct analysis.
  • It is not complicated to do, but it is low-cost and accurate.

Clustering in Stock Market

Clustering, an effective method for data analysis, solves problems of classification. The key objective this method is to classify data into groups. When it comes to clustering technique, algorithms that search for groups of records play a major role. Clustering helps single out important features that distinguish various groups.

Advantages of Clustering

  • It is very simple to implement.
  • We can use this method for large datasets.
  • It guarantees convergence.
  • It helps to generalize different clusters in one form.

 

Association Rules in Stock Market

Ability to predict association between buyers is very critical for market dealers or investors to boost their profits. Decision-making as such as whether to sell, buy or hold shared for investor in stock market is also a challenging task. This type of data mining algorithm determines the associations among factors in the database. For instance, this technique explores how buyer X is related to buyer Y and for decision makers before investment. The association rule discovers hidden patterns in the largest dataset of various domains. 

Advantages of Association Rule

  • It is appropriate for low cardinality sparse transaction database.
  • With lease memory consumption, we can use this algorithm.
  • It is very easy to implement.
  • We can eliminate repeated database.
  • Finding association is a more important task for marketers.

Conclusion
The more data we collect from customers the more analysis and prediction we can get. And the more accurate prediction we have the more revenue we can generate. Hence when it comes to stock market prediction, data collected from customers plays a major role. In view of the above techniques, we have concluded that by using data mining techniques, it is possible to obtain data with accuracy and reliability, which provide share buyers result-oriented solutions on investing their valuable money. Data mining, the method of uncovering consequential trends and patterns, sifts through large amounts of financial data stored. With the support of technologies of pattern recognition, and methods of statistical and mathematical techniques, the process of data mining turns raw data into useful information. Hence, either companies or individuals can learn more about public listed companies so that they can develop effective strategies before any investment.

 

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Apr 20 2021
Achieving PROSPERITY with DHUNICORN Public Companies Prosperity Boost

DHUNICORN is a comprehensive solutions provider for companies to build, improve and achieve successful businesses.

Our aim is to boost the growth and prosperity of public listed companies across the world in 2021 and beyond.

We offer powerful and effective business services to public listed companies across the world. Our products and services are strategically developed by our professional experts with 9 core components that focus on the vigorous growth & success of a business.

 

Component 1 – Growth, Public Companies Business Opportunities  
Has five powerful resources to help the public listed companies connect with other companies internationally: 

  • for business breakthrough & growth
  • for acquiring strategic business partnerships and new ventures
  • for vertical & horizontal expansion opportunities
  • for increasing market capitalization and enhancing market value

 

Component 2 – Growth, Sales & Marketing Improvement
Helps business development by improving sales via its global B2B portals, sales leads referral services, sales and marketing team training, the portal to find strategic business partners around the world, and etc.

 

Component 3 – Corporate Learning & Continuous Improvement
Offers professionally developed robust online training courses and business courses by international world-class speakers. Our courses play a vital part in strengthening and elevating the knowledge, skills, values and abilities of the companies’ workforce, thereby help companies improve performance and business growth!

 

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Corporate officers experience a lot of challenges & issues in their business operations. This component helps them get business advice, solutions & consultations from a team of business experts, specialists, advisors, and consultants.

 

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Allows businesses to have an opportunity in becoming a member of one of the world’s most prestigious business clubs. It gives chance to connect, discuss, share knowledge, and build meaningful collaborations through a network of the world’s top business elites.

 

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Provides comprehensive market exploration assistance in China, India, Asia, Australasia, Europe, North America and South America to find profitable opportunities in these regions. Through MarketSuccess, your business results and success in these countries will be enhanced.

 

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Helps in discovering investment opportunities in the future Unicorns, Decacorns, and Hectocorns.

 

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  • Exploring investment opportunities
  • Enhancing business operations
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