Business Archives - The Now Gen

Brands

Building a Strong Brand: Lessons from Leading Marketing Executives

July 18, 2024

In today’s competitive market, a brand’s strength can be a critical differentiator that drives customer loyalty and business growth. But what does it take to construct a robust, enduring brand? In this blog, we delve into insights and strategies from some of the top marketing executives who have mastered the art of branding. Through their experiences, you’ll uncover the core principles and innovative techniques to transform your brand into a formidable market presence.

The Importance of a Strong Brand

Brand strength is the culmination of a brand’s core values, trustworthiness, and emotional connection with its audience. It’s not just about visual elements like logos or color schemes but also the intangible aspects such as mission and values. This strength stems from a coherent identity that resonates with the target market, creating a bond difficult for competitors to break. A strong brand consistently delivers on promises, fostering trust and loyalty and building a lasting and positive consumer perception.

Strong brands excel in competitive markets due to their robust emotional connections with consumers and established trust and credibility. Brands like Apple and Nike go beyond transactions, representing innovation and aspiration, making consumers more likely to choose them repeatedly. This loyalty, combined with positive word-of-mouth marketing, enhances their market position. Furthermore, strong brands can command premium pricing, allowing them to invest in quality and innovation, ensuring they remain resilient and relevant amidst market fluctuations.

Core Principles of Brand Building

Establishing a brand identity is critical to standing out. It involves defining the brand’s unique characteristics, including its name, logo, mission, and values. Understanding the target audience ensures the brand resonates deeply, fostering loyalty and advocacy.
A unique value proposition (UVP) explains why a brand’s product or service is superior to competitors. It highlights specific benefits that meet the target audience’s needs. The UVP should be concise and compelling, making it memorable and impactful.
Consistency in brand messaging builds trust and recognition. A unified brand voice and visual elements ensure all communications reflect core values. Regularly updated brand guidelines maintain this consistency, strengthening brand identity and fostering loyalty.

Brand Strategy Development

Market research is crucial for developing a successful branding strategy. By collecting and analyzing data on the target audience, competitors, and industry trends, brands gain insights that guide decision-making. It can be primary (direct data collection) or secondary (using existing data) and helps understand consumer behaviors, preferences, and market gaps.

Identifying target audiences is vital for effective marketing. It involves analyzing demographics and psychographics to grasp consumer lifestyles, values, and behaviors. Creating detailed buyer personas personalizes marketing and helps choose the right communication channels, ensuring brand messages resonate and drive engagement.

Clear brand goals that are aligned with the SMART criteria (specific, measurable, achievable, relevant, time-bound) guide strategy and measure success. They help increase brand awareness, improve customer loyalty, and expand market share, ensuring that every action contributes to long-term growth and success.

Building Brand Awareness

Customer Experience and Brand Loyalty

Enhancing customer touchpoints ensures a seamless brand experience by mapping interactions from website visits to support calls. A user-friendly website, active social media engagement, personalized communications, and well-trained staff delivering consistent, high-quality service are key to creating positive and memorable customer experiences.

Exceptional service means exceeding expectations by understanding customer needs with empathy and responding quickly and efficiently. Quality products and services build trust, and acting on feedback helps maintain high satisfaction levels.

Engage the community with updates and interactive content, encourage user-generated content, offer exclusive benefits, and maintain open communication to strengthen bonds and build loyalty.

Case Studies of Iconic Brands

Apple: Innovation and Simplicity

Apple’s design philosophy is renowned for its sleek, user-friendly aesthetics. Known for setting industry standards, Apple seamlessly integrates form and function to enhance user experience. This dedication is clear in popular products like the iPhone and MacBook. As a result, Apple symbolizes sophistication, innovation, and cutting-edge technology.

Nike: Just Do It – A Slogan that Resonates

Nike enhances its brand recognition through community engagement and initiatives like the Community Impact Fund and Active Schools program, promoting physical activity, inclusion, and equality. This commitment to social responsibility strengthens its connection with consumers. Nike’s brand transcends athletic wear, symbolizing innovation, excellence, and social responsibility, solidifying its position as an industry leader and global motivator.

In conclusion, building a strong brand involves enhancing customer touchpoints, delivering exceptional service, and fostering a community around the brand. Creating memorable experiences that drive long-term loyalty and advocacy is an ongoing process requiring a clear vision, strategic planning, and continuous refinement. Embracing market dynamics and consumer preferences with agility and resilience turns challenges into opportunities for innovation. A strong, resilient brand ultimately enjoys lasting customer loyalty, trust, and advocacy, driving business growth and creating a legacy that endures market fluctuations.

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How Hyper-Personalization Transforms Marketing

Emmanuel Rojas

June 6, 2024

In the ever-evolving digital marketing landscape, hyper-personalization has emerged as a game-changing strategy. By leveraging data and advanced technologies, businesses can create highly individualized marketing experiences that resonate deeply with consumers. This article explores the transformative power of hyper-personalization in marketing, highlighting its importance, benefits, and implementation strategies.

Overview of Hyper-Personalization in Marketing

Hyper-personalization goes beyond traditional personalization by using real-time data and AI to deliver content and experiences uniquely tailored to individual customers. This approach ensures that every interaction is relevant, engaging, and valuable, fostering a stronger connection between the brand and its audience.

Importance of Personalized Marketing Strategies

Personalized marketing strategies are crucial in today’s competitive market. They not only enhance customer engagement but also drive higher conversion rates and foster long-term loyalty. By addressing individual preferences and behaviors, businesses can create more meaningful interactions that increase satisfaction and advocacy.

The shift from mass marketing to hyper-personalization marks a significant evolution in how businesses communicate with their audiences. While mass marketing relies on generic messages aimed at a broad audience, hyper-personalization focuses on creating unique experiences for each customer, enhancing relevance and impact.

The Role of Data in Hyper-Personalization

Types of Data Used for Hyper-Personalization

Hyper-personalization relies on various types of data, including demographic, behavioral, and transactional data. By combining these data points, marketers can gain a comprehensive understanding of each customer, allowing for more precise targeting and messaging.

How Data Collection Enhances Personalization Efforts

Effective data collection enhances personalization efforts by providing the insights needed to create relevant and engaging experiences. Advanced analytics and data integration tools help marketers make sense of large datasets, identifying patterns and trends that inform their strategies.

Hyper-Personalization Techniques

Dynamic Content Customization

Involves altering website content, emails, and advertisements based on individual user data. This technique ensures that each customer sees the most relevant content, increasing engagement and conversion rates.

Real-Time Behavioral Tracking

Allows marketers to monitor customer actions as they happen. By understanding how customers interact with their brand in real-time, businesses can deliver personalized experiences that are timely and contextually relevant.

Predictive Customer Segmentation

Uses AI and machine learning to group customers based on predicted future behaviors. This enables marketers to target segments with personalized messages that are likely to resonate and drive action.

Tailored Customer Journeys in E-Commerce

In e-commerce, tailoring customer journeys involves personalizing every touchpoint, from product recommendations to checkout processes. This enhances the shopping experience, increasing the likelihood of conversions and repeat purchases.

Case Studies of Successful Hyper-Personalization

Artificial Intelligence is now a crucial element in personalized customer experiences. Its abilities go beyond traditional data analysis, allowing for real-time personalization previously seen only in science fiction.

Amazon uses data including a user’s name, search query, average time spent searching, past purchase history, average spend amount, and brand affinity to create a curated selection of products that they’re most likely to buy.

Starbucks truly masters hyper-personalization! Leveraging AI, this coffee brand taps into real-time data to craft exclusive offers tailored to users’ preferences, habits, and purchase history. With over 400,000 unique hyper-personalized messages, coffee enthusiasts experience a bespoke connection with the brand every time they engage.

Creating a Hyper-Personalization Strategy

Identifying Your Target Audience

This involves understanding customer demographics, behaviors, and preferences to tailor marketing efforts effectively.

Setting Personalization Goals and Objectives

Ensures that marketing efforts are aligned with business objectives. This includes defining specific outcomes, such as increased engagement or higher conversion rates.

Choosing the Right Tools and Technologies

Is essential for implementing hyper-personalization. Businesses should invest in advanced analytics, AI, and machine learning platforms that enable effective data collection and analysis.

Future Trends in Hyper-Personalization

Voice and conversational marketing are emerging trends in hyper-personalization. Technologies like voice assistants and chatbots offer new opportunities for personalized customer interactions.

The integration of augmented reality (AR) is transforming personalized experiences. AR allows businesses to create immersive, interactive experiences tailored to individual customers. Emerging technologies such as blockchain and advanced AI will further enhance hyper-personalization, providing new ways to collect, analyze, and utilize customer data for more effective personalization.

Hyper-Personalization for Small Businesses

There are several affordable strategies and tools available to assist small businesses in implementing hyper-personalization. For instance, platforms like Mailchimp and Shopify provide cost-effective personalization features designed to enhance engagement and drive conversions.

Numerous case studies illustrate the positive impact of hyper-personalization on small businesses. These examples showcase how small businesses can leverage personalization to compete with larger corporations and achieve substantial growth.

Integrating Hyper-Personalization with Other Marketing Strategies

Combining Personalization with Content Marketing

Combining personalization with content marketing involves creating tailored content that resonates with individual customers. This approach enhances the relevance and impact of content marketing efforts.

Enhancing SEO through Personalized Content

Enhancing SEO through personalized content involves using data to create content that meets the specific needs and interests of target audiences. This strategy improves search engine rankings and drives organic traffic.

Conclusion

Hyper-personalization offers numerous benefits, including enhanced customer engagement, improved conversion rates, and increased loyalty. By leveraging advanced technologies and data, businesses can create highly individualized experiences that resonate with customers. Incorporating hyper-personalization into marketing strategies is essential for driving engagement and boosting conversions. As technology continues to evolve, businesses must stay ahead of the curve, continually refining their personalization efforts to meet the ever-changing needs of their customers.

Chess piece that represents marketing authenticity

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The Essential Role of Authenticity in Marketing Success

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May 6, 2024

Authenticity in marketing builds emotional connections, turning viewers into loyal customers. Brands seen as authentic gain trust, fostering customer loyalty, word-of-mouth promotion, and repeat business. This makes authenticity key in developing a dedicated community around a brand in a competitive market.

Building Trust with Your Audience Through Authentic Messaging

Authentic messaging stands out by speaking directly to the audience’s values, needs, and aspirations. It involves showcasing the brand’s genuine personality, values, and commitment to quality rather than relying on exaggerated claims or manipulative tactics. By doing so, a brand not only captures attention but also earns respect and trust.

To build trust through authentic messaging, brands should focus on transparency and honesty in their communication. Sharing stories behind products, the challenges faced, and the successes achieved adds a layer of relatability and humanizes the brand. Furthermore, engaging with customers, listening to their feedback, and showing responsiveness in social media interactions contribute significantly to building a trustworthy relationship and encourages the audience to share their positive experiences with others.

The Impact of Social Media on Brand Authenticity

The impact of social media on brand authenticity is profound. It enables brands to communicate directly with consumers, respond to their concerns, and adjust their messaging based on real-time feedback. This level of interaction and responsiveness makes a brand appear more accessible and relatable, which is crucial for building trust. Social media also allows for the dissemination of user-generated content, such as reviews and testimonials, further solidifying a brand’s authenticity. When consumers see real people vouching for a product or service, it reinforces trust and can influence purchasing decisions.

An exemplary instance of a brand that has excelled in harnessing authenticity through social media is Patagonia, in 2022 when its founder, Yvon Chouinard, chose to transfer the company to a trust fund focused on acquiring and conserving land. This decision further solidified the brand’s commitment to the values represented by its products.

Or consider the social media success story of Glossier, a beauty brand that has built an avid following by showcasing its products in authentic and relatable ways. By featuring real customers and their unedited photos on their social media, Glossier has created a sense of inclusivity and authenticity that resonates with consumers.

However, social media’s double-edged sword means that any inauthenticity can quickly be amplified and lead to backlash. Therefore, maintaining consistency in messaging, being transparent about products and services, and engaging in meaningful conversations are paramount. By leveraging social media effectively, brands can enhance their authenticity, attract a loyal community, and drive long-term success.

Measuring the Effectiveness of Authentic Marketing Campaigns

Measuring requires quantitative metrics like engagement and sales figures and qualitative feedback such as customer satisfaction. Analyzing social media engagement offers insights into content resonance, while conversion rates show a direct impact. Qualitative feedback from surveys and interactions reveals brand authenticity perceptions and emotional connections influencing purchases. Tracking brand loyalty and customer advocacy highlights long-term strategy success through repeat business and positive reviews. Combining these approaches provides a comprehensive view of campaign effectiveness, guiding strategy refinement for deeper customer relationships and sustained growth.

Elevating brands with custom solutions

In today’s marketing world, authenticity is crucial. Consumers seek genuine connections with brands. 121Corp helps brands navigate this by offering custom marketing solutions focused on authentic storytelling and transparent communication. Using creative and strategic approaches, 121Corp enables brands to connect deeply with their audience, build trust, and stand out in the market. Partnering with 121Corp allows brands to meet the demand for authenticity, fostering loyalty and driving sustainable growth.

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Mastering Trends for Game-Changing Gen Z Marketing Strategies

Emmanuel Rojas

March 28, 2024

Gen Z, with its formidable purchasing influence and distinct consumption patterns, marks a critical demographic for marketers targeting future growth. Born from the mid-1990s to the early 2010s, they are digital natives, demanding authenticity, social responsibility, and custom experiences from brands. To captivate Gen Z, brands must offer genuine, socially aware, and personalized marketing strategies, ensuring brand loyalty and market expansion.

Unlike any generation before them, Gen Z individuals have been raised in a world where the internet is omnipresent, shaping their perceptions, behaviors, and values from an early age. Some key characteristics of gen Z are:

Digital Natives.
Financial Pragmatism.
Global Outlook.
Mental Health Awareness.
Entrepreneurial Spirit.
Socially Conscious.
Preference for Authenticity.
Tech-Savvy Creators.

Navigating Social Media Trends for Gen Z Engagement

To effectively engage Gen Z through social media, marketers must stay abreast of the evolving landscape. Currently, short-form video content, led by platforms like TikTok and Instagram Reels, dominates the preferences of this demographic. Such platforms offer a canvas for creativity and self-expression, resonating deeply with Gen Z’s desire for authenticity and originality. Additionally, the rise of influencer marketing cannot be overlooked. Gen Z trusts influencers who share their values and interests, making influencer partnerships a powerful strategy for brands.

Interactive and immersive experiences, such as AR filters and live streams, also captivate Gen Z by fostering a sense of connection and community. Furthermore, platforms that prioritize privacy and mental well-being are increasingly favored, reflecting Gen Z’s acute awareness of these issues.

Source: 2022 Global Crowd DNA Study

By tapping into these trends, and continuously monitoring the digital landscape for emerging ones, brands can craft social media strategies that not only reach Gen Z but engage them on a level that fosters lasting loyalty and advocacy.

Prioritizing Mobile-First Content to Connect with Gen Z

Gen Z’s strong attachment to mobile devices emphasizes the need for brands to prioritize a mobile-first content strategy. This demographic prefers on-the-go content consumption through smartphones, requiring optimized, fast-loading, and user-friendly designs.Vertical videos and responsive web design enhance the mobile experience for effective engagement.

In essence, by prioritizing a mobile-first content strategy, brands can significantly enhance their engagement with Gen Z, catering to their digital consumption habits and preferences, and establishing a strong, meaningful connection in a competitive digital marketplace.

Source: 2022 Global Crowd DNA Study

Identifying Core Values That Resonate with Gen Z

Understanding and connecting with the core values of Gen Z is paramount for brands aiming to establish a meaningful relationship with this demographic. This generation prides itself on its authenticity, social responsibility, and desire for inclusivity. They tend to favor brands that stand for more than just profitability, those that actively participate in social conversations, and make genuine efforts to contribute positively to society. Gen Z is highly aware and critical of performative activism; thus, brands must ensure their actions are sincere and backed by tangible contributions.

Environmental sustainability is another core value deeply embedded in Gen Z’s consciousness. They are inclined towards brands that adopt eco-friendly practices and demonstrate a clear commitment to combating climate change. By aligning brand values and operations with the principles of sustainability, inclusivity, mental health awareness, and social responsibility, companies can resonate with Gen Z on a deeper level. This alignment not only attracts Gen Z consumers but also fosters loyalty, as they see their purchases as an extension of their values and identities.

Crafting the Future Together with Gen Z

Mastering engagement with Gen Z goes beyond understanding digital habits; it requires alignment with core values like sustainability and inclusivity. By staying updated on social media trends, focusing on mobile-first content, and embodying values like social responsibility, brands can connect authentically. Success in marketing to Gen Z comes from listening, adapting, and innovating. Partnering with Gen Z offers the chance to build loyalty and contribute to a more inclusive marketplace. The future of marketing to Gen Z is bright with opportunities for positive impact alongside this forward-thinking generation.

Brands

Beyond Billboards Strategies in Out-of-Home Advertising

Emmanuel Rojas

March 27, 2024

In the fast-paced world of advertising, out-of-home (OOH) strategies lead innovation, transitioning from traditional to digital. The Evolution of Out-of-Home Ads pays homage to billboards’ past and embraces digital mediums, expanding creative horizons and engaging with the audience more personally and in real-time. Next, we’ll explore OOH advertising.

Measuring the Impact of OOH Advertising

In the realm of Out-of-Home advertising, where vast and varied strategies stretch from billboards in bustling city centers to digital screens in tranquil suburban malls, the imperative to gauge their impact accurately has never been more critical. This necessitates a forward-thinking approach, combining traditional metrics with innovative technological solutions, such as geolocation data and AI-powered analytics. By doing so, advertisers can not only assess the reach and frequency of their advertisements but also obtain a deeper understanding of consumer behavior and engagement levels. This dual focus on quantitative and qualitative measurements paves the way for advertisers to refine their campaigns, ensuring they resonate profoundly with their intended audience, all the while optimizing return on investment. In this light, Measuring the Impact of OOH Advertising emerges not just as a challenge but as a golden opportunity for brands to underscore the effectiveness of their ad spend in an unequivocally competitive landscape.

Out-of-Home advertising is undergoing a significant shift, moving from a traditional emphasis on brand awareness to a more nuanced focus on driving conversions. This evolution reflects a deeper understanding of consumer behavior and the pathways to purchase. By integrating interactive technologies such as QR codes, NFC, and AR within OOH advertisements, brands are not just capturing attention but are also creating direct channels for consumer action. These technologies encourage instant engagement, allowing consumers to move seamlessly from viewing an advertisement to undertaking an action such as making a purchase, signing up for more information, or navigating to a website, thereby simplifying the conversion process. For advertisers and brands willing to innovate and adapt, this strategic pivot from awareness to conversion in the realm of OOH advertising represents an exciting opportunity to connect with their audiences in more meaningful and impactful ways, ultimately driving higher ROI and forging stronger customer relationships.

The surge in digital outdoor ads is evident. From 2016 to 2022, the number of digital billboards in the U.S. rose by 80% to 11.5 thousand. This trend attracts brands, opening up new promotion avenues. A 2022 survey found DOOH to be one of the most innovative media for advertisers in the U.S.

Strategically integrating advanced tech in Out-of-Home advertising goes beyond catching the eye; it’s about creating lasting connections. Augmented Reality (AR) turns billboards into immersive portals, blending physical and digital realms for engaging experiences. Digital billboards use programmatic ads for timely, relevant content, maximizing impact through personalization. These innovations in OOH advertising captivate audiences, strengthening the bond between brands and consumers.

Future Trends in OOH Advertising

Anticipating the future directions of outdoor advertising is essential for staying ahead in a competitive market. This section will explore emerging trends such as the integration of Internet of Things (IoT) devices, the growing emphasis on experiential marketing, and the adoption of AI for predictive analytics in campaign planning. Through this forward-looking lens, we underline the evolving landscape of OOH advertising, poised to leverage technological advancements for even greater impact and engagement.

Out-of-Home advertising is evolving with innovative tech like AR and programmatic ads, enhancing brand creativity and consumer engagement. By measuring impact effectively, brands craft resonant campaigns for high returns. The future? Interactive, personalized, and AI-driven. OOH ads offer new ways for connection and conversion.

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Non-Traditional Shoppable Experiences: Unleashing Innovation in E-Commerce

Emmanuel Rojas

February 27, 2024

In the bustling world of digital innovation, the horizon of e-commerce never stands still, forever being reshaped by the hands of technological advancement. As marketers, entrepreneurs, and business leaders, we stand at the precipice of the digital consumer revolution, where shopping is just one click, touch, or voice command away. However, the ‘traditional’ one-dimensional way of retail is rapidly becoming outdated in the face of new, immersive, and interactive shopping experiences.

The race to capture the ever-fragmenting attention of consumers and differentiate brand offerings has accelerated a revolution in e-commerce. The future of shopping is here, and it is dynamic, immersive, and above all, innovative. Let’s explore the cutting-edge strategies and powerful technologies that are redefining the very essence of shopping.

Augmented Reality (AR) Shopping: The Personalized, Interactive Frontier

As Augmented Reality (AR) blends the digital footprints with the physical world, it carves out a new dimension for consumer engagement. In the realm of e-commerce, AR has the singular power to offer hyper-personalized, interactive product experiences that were hitherto unimaginable.

Smartphone applications and web plugins have democratized AR shopping, making it accessible to even the most casual online shoppers. From trying on virtual clothes to visualizing furniture in a room, AR expands possibilities—bridging the gap between the digital product image and physical consumer space.

For customers, AR shopping is a game-changer, reducing uncertainty around size or suitability of products and enhancing consumer confidence. On the retailer side, AR facilitates a deeper level of consumer insight through analytics on virtual try-ons, leading to improved product design and inventory management.

Virtual Reality (VR) Shopping: The Bespoke Immersive Escape

Virtual Reality (VR) constructs a simulated three-dimensional world, beckoning consumers to immerse themselves in a bespoke shopping universe. It’s a step beyond AR, offering a complete sensory experience that fosters brand loyalty like never before.

From virtual showrooms for luxury goods to tailored shopping experiences in VR marketplaces, the applications are manifold. VR transcends physical barriers to deliver exceptional shopping experiences.

However, for those who can access VR, it leads to higher purchase intent, conversion rates, and an immersive brand experience that’s second to none.

Social Commerce: The Community-Driven Shopping Spree

Social commerce takes the conversation where it naturally flows: social media. By integrating shopping capabilities within social platforms, it harnesses the power of community and user-generated content to drive sales.

Platforms like Instagram and Pinterest are not just for browsing—they are now interactive storefronts. With features like in-app purchasing and shoppable posts, social commerce is turning casual browsers into active buyers.

Voice Commerce: The Conversational Conversion Channel

The rise of virtual assistants like Amazon’s Alexa, Google Assistant, and Apple’s Siri has paved the way for a new dimension in e-commerce: voice commerce. It simplifies the shopping process, allowing customers to make purchases with a voice command.

Voice commerce is growing rapidly, with a predicted climb to billions in sales by 2023. This growth is propelled by the speed and convenience it offers, making it a natural fit for the ethos of instant gratification that characterizes the digital consumer.

By leveraging AR, VR, social commerce, and voice assistants, retailers can provide customers with the unforgettable experiences they crave. But at its core, each of these innovations pivots on personalization, interactivity, and user-centric design. When implemented thoughtfully, they not only encourage more conversions but also foster stronger, more loyal customer relationships.

The NOW Gen at CES 2024 encapsulates the spirit of this digital transformation. Here, we celebrate the pioneers and visionaries who drive the unprecedented acceleration of e-commerce. As we stand on the brink of a new shopping era, one with endless opportunities for brands to connect with consumers, we call upon businesses to embrace these unconventional yet powerful tools, to redefine their online presence, and to craft shoppable experiences that truly resonate with the NOW generation.

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Alternative Payment Options

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December 7, 2022

While consumers still carry credit cards, they’re increasingly looking for other ways to pay. As a result, digital wallets such as PayPal and Venmo are growing in popularity. Moreover, these digital payment methods aren’t just for online shopping; they are increasingly accepted in many physical locations.

Some reasons for this include safety, security, and convenience. In addition, customers are looking for the most convenient way to spend their money, and having alternative payment options will remove constraints for either traditional or trendier clients.

You must know your customer’s preferred payment options. Then you must consider new payment methods like Apple Pay, Venmo, or PayPal. If you don’t offer these options, your business will lose sales and revenue.

On the other hand, opening your business to alternative payment options can increase success rates. Furthermore, we are not discussing replacing your current options but enriching your customer experience.

Research by Checkout.com, in partnership with Oxford Economics, concluded that consumers are more likely to avoid shopping on a site that wouldn’t allow them to use their payment method.

Consumers are looking for safety and convenience when they shop online. Adopting these APMs can provide ease to your customers.

Some of the most common alternative payment methods (APMs) include brands like PayPal, Stripe, Apple Pay, Samsung Pay, CashApp, Al i Pay, Klarna, Grabpay, and even newer cryptocurrency ones, Bitso and Binance.

Adaptability is vital for business success. Adapting to new trends can help the business show that you care for your consumer’s preferences. If you want to take advantage of this growing opportunity and increase your sales by adding more payment options for your customers, the first step is determining the best choice for your business.

As with any change, you need to evaluate what will help improve your business. Influencer Marketing Hub says, “To find the best APMs for your business, think about your target market, the nature of your transactions, and your budget.”

There are many perks of having APMs available for your consumers. The following are a few ways they can increase your business reach.

Make money on the go with mobile payments.

Mobile payment technology offers you fast and secure ways to make money on the go. Whether at a busy grocery store or waiting for your flight at an airport, you can easily use your smartphone to complete financial transactions.

It’s also suitable for business owners who want to accept credit card payments from their customers but don’t have a traditional point-of-sale (POS) system installed in their stores.

Another option for mobile payments is to accept payments through social media.

Social media payments are a great way to accept payments without building a business page.

Social media payment apps like Venmo and PayPal allow users to send money directly from one person’s bank account to another’s in minutes. This can be useful if your customer doesn’t have access or is uncomfortable with traditional payment methods such as credit cards or e-checks.

You can also allow consumers to go cashless with digital wallets.

Digital wallets are an alternative to cash, checks, and credit cards that enable customers to pay for purchases through their phone or computer.

With digital wallets like Apple Pay and Google Pay, you can instantly accept payment using a unique QR code that customers scan with their phones. This payment method is gaining traction among merchants because it’s fast, easy, and convenient for both parties.

However, before you jump right in, you should take some essential security measures to protect your business against fraud:

First, ensure that your customer’s data is encrypted during all transactions.
Make sure the transaction meets all legal requirements to comply with regulations set by governments or financial institutions.
Use two-factor authentication (2FA) or Touch ID fingerprint scanning to protect against unauthorized access to customers’ personal information.

Alternative payment options can help your business reach new markets and even make you money by following the trends of your customers. By making sure these payment methods are available where customers shop for goods and services, you’ll be able to help them get what they want without having any problems.

To recap, alternative payment options are available. Of course, cash and credit card payments are still the most common ways for customers to pay, but there is room to grow into new alternative payment options and prepare for the upcoming consumer trends.

Adding these options will allow all generations to feel comfortable making payments in your business. The shift to these alternative options can take a while to assimilate, but it is possible. Make sure to provide your consumers with the best choices using data to verify your decision.

Data-driven decision-making can provide your company with feedback from consumers that will allow you to understand them better. As mentioned in an article by Tech Vice, studying data is the best way to receive your customer’s feedback and learn from it.

Brands

Advantages of Consumer Relationships

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September 12, 2022

The relationship with your customers is a topic that’s been getting more attention in recent years, and for good reason. Developing strong customer relationships can lead to increased customer loyalty, better customer engagement rates, and higher sales numbers. This article will explore some of the most important benefits of consumer relationships and how they can help your business grow by improving your relationship with customers.

Having a relationship with your consumers is the best way to grow a community for your brand. This is something that the NOW Generation values. Having a community where consumers can interact with each other and brand ambassadors or representatives. The benefits for customers of developing relationships with brands include customer loyalty, better customer service, and positive word-of-mouth promotion. Plus getting to know your segment on a deeper level.

As a business owner, you know that customer service is crucial to your success. It’s important for you and your team members to be able to provide the best possible service in order for consumers to want to do business with you again. With customer relationship management (CRM), however, it’s easier than ever before for customers and businesses alike to interact with each other in ways that were never possible before.

According to Forbes, CRM’s core function is to collect data that helps businesses understand and communicate with customers. This basic management tool can open pathways to having great relationships with your consumers, and learning about them and how they connect with your brand. Besides increasing business profits.

It’s important to consider the benefits of CRM in terms of a company’s bottom line. The most obvious benefit is increased brand loyalty, which in turn leads to more positive word-of-mouth promotion and brand awareness. Some companies estimate that customer retention rates can increase by 25% when they implement a CRM strategy.

In addition, having an extended relationship with customers can help you better understand their needs and wants as well as their preferences for products and services, allowing you to better cater to them in the future. When you have a consumer relationship, they’re more likely to stay with your brand and recommend it to others. This is because they feel like they’re part of a community that shares the same values as them.

According to a recent study on customer expectations, 79% of consumers consider personalized service more important than marketing. Consumers want to be known and treated like so. Especially if we look at minority groups we can find that a feeling of belonging allows consumers to become loyal to a brand.

When consumers are loyal to a brand, they can make it easier for you by buying from you again in the future. They’ll also be more willing to refer your product or service to others who may need what you have.

Engagement is a two-way street. Customers need to feel like they are being heard, and businesses need to make sure that their customers feel valued. When customers know they’re being listened to, they are more likely to make repeat purchases and recommend the brand.

In addition to this effect on sales and loyalty-building efforts, engaging with your customer base also has other benefits such as increased employee engagement (for example by sharing positive feedback).

The bottom line is that customer relationships are beneficial to both customers and businesses. Businesses can improve their marketing and sales efforts by engaging with their customers, while customers will receive better service and personalized offers in return.

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Globalization, New Challenges for Brands

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July 28, 2022

Globalization is not a new trend, but it remains relevant because of its impact on the way businesses and consumers interact with each other. Globalization has been present around the globe for a long time, and many brands strive to use it to their advantage.

Making your brand global is not an easy task. While many successful brands have been able to become globally recognized, the process is not easy, and it doesn’t come without challenges.

Besides these challenges, the new globalization is here. The fourth industrial revolution, geopolitics, and the escalating effects of climate change are the three primary forces propelling a new chapter in the history of globalization.

According to an expert panel held by The Drum, these three things have all happened in the past, just not at the same time. As a result, companies are now figuring out strategies, markets, and how they position themselves.

With the new globalization comes the need for speed. This makes sense because the NOW generation is all for instant gratification, and when it comes to growing a brand in a global market, how fast can it approach new consumers on a local scale.

Digitalization is also taking a big part in this new era of globalization. With the numerous products available to your market, brand culture, lifestyle, and behavior habits are the most helpful in reaching your consumers.

From a consumer point of view, depending on where they live, people worldwide consume the same products. However, through social and mass media, people find similarities between their consumption habits and those of people on the other side of the globe. This is called glocalization.

Glocalization is the ability to penetrate various global markets while meeting the needs of each local geography. Even though it is not a new concept, not all businesses with global aspirations have mastered the art of glocalization. Therefore, companies must excel at integrating local resources, modifying procedures, and implementing global technologies to create effective glocalization strategies.

Entrepreneur India shared in an article the importance of acclimating brands to global growth. According to their article, success at glocalization comes from being sensitive to local culture, social norms, and consumer habits. Basically adapting to the area where your brand is arriving.

Even major brands have struggled to bring their business to a new location. “One size fits all” doesn’t apply in globalization. Brands need to consider that the need for their product in different places may not be the same.

This may be accomplished; many companies have successfully arrived in new markets and tropicalized their brand to the local market. For example, big food chain brands have noticed that just bringing products they already sell and not incorporating anything local to their menus is not as successful as adding an item with a local taste for the consumer. This is how you can glocalize your business.

Another way businesses can adapt to a new culture is by hiring local professionals. Local associations within your company will help your brand access specific insight on a microeconomic scale while remaining globally relevant. This is a big step because once you know the culture, you can find better ways to approach the consumer and provide them with what they need.

Globalization is not about completely changing your brand but about being flexible and willing to adapt to your consumer’s culture. The need to grow is a constant in the current global business environment. However, growth in a globalized world would not be possible without learning from the NOW generation.

Business

The Digital Gig Economy is on the Rise

admin

July 13, 2022

As the world continues to change, so does the way we work. Noncontractual, short-term, and task-based work is not new, but it has increased in the past few years. For example, many workplaces transformed their operations into a virtual collaboration space during the pandemic. This was a completely new practice and not an easy transition for many. But, at the same time, others with experience in digital gigs found it easy and a great way to keep the economy moving.

The digital gig economy is a clear example of globalization, and its main perk is how it connects companies with qualified talent worldwide. It is growing bigger by the day, and many Americans are turning to it as an alternative to full-time work. In addition, after the COVID-19 pandemic, many job seekers will likely turn to it to get by.

In no way is the gig economy a new practice; its first growth spurt was after the Great Recession. So while many believe it will soon fade away, it has proved to be here to stay and has even evolved into a more digital pathway.

The emergence of the digital gig or platform economy is one of the essential new transformations in the world of work. According to the International Labor Organization, there are two main types of platforms for the digital gig economy: web-based platforms and location-based applications. “An important component of the platform economy is digital labor platforms which include both web-based platforms … and location-based applications (apps).”

The main difference between these two is the kinds of jobs they require. For outsourcing or web-based platforms, the desired results are most likely to be digital products, for example, briefs, creative goods, audiovisual resources, etc., making it easy for people from all over the world to be connected and work together on these digital platforms.

On the other hand, for location-based gigs, digital platforms are the channel of communication between consumer and provider, for example, deliveries, running errands, etc. In this case, the digital platform allows uncontracted service providers to earn a living while making their own schedule and only working as much as they need.

A more digital gig economy is an asset that benefits employees and employers equally. For example, job satisfaction, flexibility, remote work, and professional work are a few positive results of this form of work. However, if we look at these benefits, we can find many reasons for the digital gig not going anywhere.

According to a case study by Brodmin, most gig economy workers are satisfied with their work. “Based on numerous research and publications, there is a general consensus that people who decide to freelance full-time are quite satisfied with the change as well as with their new careers and lifestyle.”

In the last few years, we have seen growth in the freelance worker population, and the flexibility of working remotely is one of the leading causes of this increase. In addition, being able to provide work to someone in a different part of the world, and on the other side, being able to work for a company in a separate geographical area is enticing.

Flexibility has been mentioned multiple times already in this article, and it seems to be with great reason. For example, in their book “Work in the Age of Data,” BBVA’s OpenMind, mentions that flexibility is one of the primary desires of workers because they can obtain professional work from talented collaborators from all over the world while offering a flexible work schedules, pay, or even a flexible workflow. For the Now generation, this is an opportunity to connect with companies and collaborators from around the globe, which encompasses globalization.

The digital gig economy is on the rise. We believe it will continue to grow and benefit many different markets because of the needs of The NOW Generation. Digital gigs are the perfect way to allow younger generations to work using their talent and skills from anywhere they might be, plus giving them the freedom to grow and explore different ways of experiencing life while working.

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Business

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