SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

This section contains articles submitted by site users and articles imported from other sites on Marketing Intelligence

Generating Sales Leads Through Social Media

The social media platforms are proving to have immense potentiality and opportunity for the businesses to focus on their marketing strategies by targeting their audience on such platforms. However, given the fact that social media platforms like Facebook, Instagram and Twitter are mostly used for mainly two intentions: to get informed and to have fun, it’s not easy to generate sales through them. Some tips to tackle these types of challenges are listed below.

1.       Focus should be on Creating a Community- Before using social media as a marketing strategy, first it is necessary to understand the inherent self-explanatory motive of the audience for using it. People use social media to connect with like-minded people and not necessarily with businesses. Hence creating a social media group or a community can help promote the company’s brand and keep the audience cognizant of the latest stocks and provide a platform where the members can actively share their thoughts about the products.

2.       Being a Go-To Page- Having people come to a company’s page with questions and addressing their queries in the comments is a good way to kick-start sales when the audience will start making purchases without having to invite them in taking an action. However having a large scale authority as business is not easy and would require the following dimensions:

·         Content- An integrated high quality content blog is required to be published at the website that would provide solutions

·         Paying attention to the description of the blog posts and promoting them so that engagement is triggered after reading them.

A lot of effort and patience coupled with the right strategies can indeed help to generate sales of a company from the social media audience.

Read more at: https://digitalagencynetwork.com/how-to-generate-sales-leads-through-social-media/ 

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Using Business Intelligence for Betterment

Data is very valuable for any business. It can help in decision making, planning, and more. Here, Business Intelligence comes into action. BI uses various softwares, applications, tools and services that enables access to and analysis of data. This improves and optimizes decisions and performances. Using Business Intelligence can help you to get more value by improving customer service, employee productivity, and more.

Following are the few ways one could get more value from Business Intelligence:

  1. Build real-time BI into your customer-facing services
  2. Improve employee performance through BI
  3. Improve Customer Service
  4. Predict new revenue streams
  5. Automate budgeting and forecasting
  6. Shift the emphasis to analysis
  7. Embed BI into other platforms
  8. Cut time wasted on data gruntwork
  9. Bring unstructured data on board

Read more about them at: https://www.cio.com/article/3254646/business-intelligence/9-ways-to-get-more-value-from-business-intelligence.html

 

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Technology In Business

Slowly and steadily we are moving towards digital transformation and its has become one of the important tasks for businesses. With the evolving technology, businesses are also growing and evolving. Here are the top 12 tech trends that we need to look for in year 2018 :

    1. Computer Vision
    2. Deep Learning
    3. Natural Language Generation
    4. Businesswide Networking Fabric
    5. Distributed Ledger Technology
    6. Edge Computing
    7. Quantum Computing
    8. Serverless Computing
    9. Augmented, Virtual and Mixed Reality
    10. Digital Twin
    11. Additive Manufacturing
    12. Nanotechnology

It is believed that to stay in the competition of business, one should welcome new forms of technology and implement them helping business to grow. This will bring the needed digital transformation and help in decision making and planning strategies. 

Read more at https://www.techrepublic.com/article/here-are-the-12-tech-trends-that-will-dominate-business-in-2018/

 

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Briefing Data Science

After Artificial Intelligence and Machine Learning, the next most emerging field in todays world is the field of Data Science. It is said to be the cousins of AI and ML and mainly deals with data. It intakes data, uses processes, algorithms and scientific methods to extract knowledge and valuable data from large data sets. This field is need of each and every type of organization. Whether it be business or an IT firm, every organization needs data for improvement. Thus, outcomes from the processing of data are further used for decision making and for improving current functioning.

People often gets confused between Data Science, Data Analytics and Big Data. The key difference between them is that Data Analytics and Big Data are components of Data Science. Data Science extract values from the output of Data Analytics and Big Data to solve problems.
The goal of Data Science is to extract business-focused insights from business. This could help organizations in many ways.

Read more about this topic at: https://www.cio.com/article/3285108/data-science/what-is-data-science-a-method-for-turning-data-into-value.html

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Five important things to keep in mind during a Presentation!

A very common misconception is too much of practice is going to result in a bad presentation. Enough practice helps us in knowing our lines better, giving us enough confidence so that we don’t have to struggle for the words. Also with the proper knowledge of the pitch we can have enough control and get back to the point that we want to make. The point is not to memorize the pitch word for word, which might work for some people, but the key point is to memorize the specific key lines and transition points. The first line, the first line of every slide or topic, the transition line, the last line of the presentation is of great importance in a presentation.

To know more visit at: https://www.business2community.com/communications/you-dont-have-to-memorize-your-entire-presentation-just-these-5-things-02082423

 

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Branding- the new Booze of the marketing industry!

Authentic branding has become the new essence, which every organization is taking up to increase their demand in the market. Generic branding in today’s market can cause a dearth of reputation of the company. Hence, branding should be such which is an ensemble of business, culture and reputation. Branding should align with the career progression, professional development and personal development.

To know more visit at: https://www.business2community.com/branding/5-features-to-include-in-your-employer-brand-02072256

 

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Importance of customers are the key to a successful business.

A Business owner wishes to know more about his/her customers, wants them to keep visiting the business more, and increase the purchases. To achieve such goals, loyalty programs are created. So basically marketing strategies involve in getting the customers and getting them to return. Loyalty programs are structured marketing strategies. It is designed to encourage customers to shop at or use the services of businesses again and again.

To know more visit at: https://www.business2community.com/loyalty-marketing/do-loyalty-programs-really-create-loyalty-02049183

 

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The key elements of marketing!

The marketing mix model has four key elements- product, place, price and promotion, which constitutes the four Ps. The four Ps need to work together. The only way a marketing plan can succeed if the four Ps are aligned and are worked in unison. Their role is to implement the strategic direction the top management has chosen.  However if one of the four Ps is not in sync with the others, then the entire plan becomes compromised.  All four Ps must be integrated and directed in the same direction; otherwise a company’s competitive model wouldn’t succeed. The four Ps shouldn’t be applied in a static way either. There will be times when one changes. The four Ps can be readjusted and need to be readjusted when one of its Ps’ changes.

To know more visit at: https://www.mindtools.com/pages/article/newSTR_94.htm

 

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Ways to improve the networking skills!

Networking plays a vital role in any business owner’s marketing plan. Networking is the medium through which we come across people who help in expanding our brand or bring something to our business. But somehow networking seems to be a bad word, a word which is void of emotions. So even if networking seems to be a negative word, it is a very important part of business strategy. A good networker is the one, who asks questions, engages himself in the conversation, and listens sincerely to the other person.  Also attending large networking events is also the other best way of networking. Networking can turn out to be extremely fun and helpful for the business.

To know more visit at: https://www.business2community.com/communications/three-things-good-networkers-have-in-common-02075854

 

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Writing Tricks to Combat Short Attention Spans!

Words used should have the capacity to grab and keep the user’s attention. As they say, humans now have the attention span of a goldfish; some of the tips should be remembered before writing or publishing any content. Unnecessary uncommon words should not be used in any web content; it does not allow the audience to resonate, alienating them from the content. So instead of throwing bombastic words, stories should be told as to how to use the products and services and how it improves their life and work.  Writing in clear short sentences help give us the best chance to keep the attention of the readers intact.

To know more visit at: https://www.business2community.com/communications/6-writing-tricks-to-combat-short-attention-spans-02084934

 

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Ways to recover the reputation of a damaged company

If in any case, our corporate reputation has been broken, crushed or damaged, it needs rebuilding. The first and the foremost thing that needs to be done is to start somewhere. The long history of failures and scandals are the examples by looking at which we can learn what works and what doesn’t. There’s a lot that take in rebuilding a company’s reputation. We need to analyze the depth and extent of the damage done by the fallout. The second important step is to research on the customers’ comments. The customer base helps us sensing how many of them have left the brand. Reconnecting with the investors and stakeholders and resolving the issues is another important step for recovering from the damage done. Rebuilding a damaged company’s reputation is not an easy task, it might end up in taking a lot of time but with the right amount of efforts put, there’s a possibility.

To know more visit at: https://www.business2community.com/crisis-management/how-to-rebuild-a-damaged-corporate-reputation-02055252

 

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All you need to know about B2B

B2B or the Business-to-business marketing involves the sale of one company’s products or services to another company. B2B marketing refers to the techniques and best practices used by the companies to sell their products and services to other businesses. Finding new and innovative ways to increase relationships through social media is currently a hot topic in the B2B marketing world. New buzz-words and acronyms are popping out each day, in such an evolving marketing landscape.  A B2B marketer should be accustomed with certain terms and definitions.

To know more visit at: https://www.business2community.com/b2b-marketing/the-b2b-marketers-dictionary-terms-and-definitions-you-need-to-know-02088378

 

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The need of CRM in today’s Marketing World.

More customers mean higher profits but at the same time it gets difficult to keep contact with each one of them individually. On everyday basis, interactions take place between the sales manager a huge number of existing and potential clients. The information about them is stored in different files and it might get really confusing for them and lose a customer as a result.  The solution to this problem is the Customer Relation Management.  The CRM method is an automated method of sales management.  Human memory is not perfect, but with the CRM system any information will always be on hand. CRM allows to be always in touch with the customers, hence resulting in higher profits.

To know more visit at: https://www.business2community.com/b2b-marketing/4-reasons-why-crm-is-essential-for-sales-and-marketing-teams-02086135

 

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The importance of “WHY’” in public speaking

As many of us will agree that public speaking and presentation is not easy by any stretch of imagination. It requires a lot of practice and effort. It happens that only a very few people enjoy speaking in public or look forward to it. 73 percent of us consider it to be significant challenge, as suggested by the National Social Anxiety Centre. The most important question we need to ask ourselves before giving any presentation or during any public speaking is ‘Why’. Every presenter needs to have a clear idea why their presentation matters, how it will impact the audience. This reasoning of ‘Why’ is very important to instill confidence in the presenter.

To know more visit at: https://www.business2community.com/communications/the-most-important-word-in-public-speaking-and-presenting-is-w-why-02084805

 

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The reason why Emotional Agility is a necessity in workplace.

There is a certain level of expectation that our leaders should show some level of positivism, enthusiasm and confidence all the time. Also negative emotions are not very much appreciated in the workplace. So there is this tremendous pressure on the leaders as they have to maintain a positive attitude, even if at times it might not come to them naturally. Such kind of expectations that we keep from our leaders is harmful and impractical. Emotional agility is a term used to describe the inner experiences and emotions of people which can be responded productively with a clear head and open mind. Instead of confronting with their negative emotions, leaders generally suppress them or push them away, resulting them to make poor decisions. Emotional agility helps them to learn from their negative thoughts and emotions instead of being dominated by them. To know more visit at: https://www.business2community.com/communications/the-importance-of-emotional-agility-in-the-workplace-02076802

 

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Inward looking Employee Innovation

To keep track with the increased competition in today’s business environments, business leaders look outward to find potential innovation. Facing competition from start-ups, established businesses are inclined to pursue mergers and acquisitions. Such outward looking attitude might cause leaders to overlook ideas of innovation available internally. With the help of digital collaboration tools, allowing for staff participation in innovation encourages teamwork and camaraderie. Inward looking innovation involves the following few steps:

1) Formalizing the program: Setting up innovation programs on whims leads to major failures and hence, such programs should be formalized with guidelines. Larger companies set up their own incubation centres where their teams operate as start-ups whereas smaller companies enable teams to embark on pet projects.

2) Breaking down data silos: Data silos decelerate growth and innovation programs should break down such silos. Participants should be allowed to tap on a variety of skills and perspectives by using collaboration tools like Trello, Slack and Conceptboard.

3) Track Progress:  There should be a time element in the program lest projects won’t progress. Making events out of program milestones is a good way to inject excitement.

4) Provide executive support: Leadership plays a critical role in any innovation program with the duty of keeping their efforts aligned with the business goals. The momentum should not break down. Proper planning is indispensable for efficient time and workload management. 

Such efforts bring concepts closer to reality and not only seek to generate bright ideas. 

Read more at: https://www.smartdatacollective.com/ways-nurture-employee-innovation-from-within-organization/

 

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Economic productivity and effects of Artificial Intelligence

The economic productivity of the country should rise up if there are improvements in technology and artificial intelligence but this is not the case. When the industry employs AI then this lead to more leisure on people’s part and making them useless. According to a survey it has been found that there is a rise in inequality in wages and hence AI needs to be implemented. There should be greater productivity gains but it is dipping. The reason could be slow commercialization. Though it displaces labour but it creates jobs in other sectors. Automation does not replace jobs but it does a part of the jobs.

For more information visit:

https://analyticsindiamag.com/why-has-the-economic-productivity-not-picked-up-despite-the-advancements-in-ai/ 

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Loyal customers are the key to a successful business.

A Business owner wishes to know more about his/her's customers, wants them to keep visiting the business more, and increase the purchases. To achieve such goals, loyalty programs are created. So basically marketing strategies involve in getting the customers and getting them to return. Loyalty programs are structured marketing strategies. It is designed to encourage customers to shop at or use the services of businesses again and again. To know more visit at: https://www.business2community.com/loyalty-marketing/do-loyalty-programs-really-create-loyalty-02049183

 

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Few CRM hacks every entrepreneur should be using

Budding businesses often uses personalization processes that relies on accumulating customer data from third-party sources but that era is coming to a close. CRM systems can be significant sources of vision that empowers and enable companies to see their data from all angles but at the same time can be difficult to use and maintain. Few tips to convert CRM systems from potentially confusing resource into a powerful weapon are as follows:-

·         Tell the software what to streamline-

CRM automation is better than the manual processes in the sense that it can remove the obstacles involving tedious and time consuming works, by importing data, making smarter schedules and compiling related data.

 

·         Learn to spot at-risk accounts-

CRM software is the ideal instrument to track customer engagement as it allows employees to help clients when things look bad. For an example, it can set up the flags for different triggers, such as repeat complaints. The software can alert sales representatives when customers set off one of the triggers.

·         Use Robots to make CRM adoption-

Virtual assistants such as chatbots, powered by artificial intelligence, can network with CRM systems to set appointments, add client information to files, and locate information without forcing users to sieve through data manually. 

 Utilized efficiently and correctly, a CRM system can transform from an equipped essential into a competitive advantage.

Read more at: https://www.entrepreneur.com/article/312994

 

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How the business giants are using robotics in supply chain?

How the Amazon is able to raise itself as one of the titanic disruptors in retail space? With its warehouses, full of robots is actually enhancing the speed and efficiency of logistics operations. FedEx is also tracing the footsteps of Amazon. The deployment of mobile robots inside FedEx is showing up how customer’s E-commerce habits are improving the retail and logistic sector. Commonly companies are making use of robots as store-service robots, inventory robots and delivery robots.

Robots are actually complimenting the human colleagues’. But the main objective of retail industry is to make profit margins and increase the productivity using robotic automation technology

For more information visit:

https://www.analyticsinsight.net/how-worlds-biggest-companies-use-robotics-in-supply-chain/

 

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