7 Incredible Benefits of Blockchain for the Retail Industry

We are dwelling in times of a surreal digital revolution, and it is only getting bigger day by day. Emerging technologies are revolutionizing and revamping the world swiftly, and the corporate world is aligning itself with these technologies without wasting any time.

On the list of these disruptive technologies, blockchain is a much-talked-about aspect of the ongoing digital revolution.

The Application of Blockchain Technologies in Business Operations

Today, you can see the application of blockchain technologies across all industries and business operations. From the automotive industry to telecommunications and retail, every industry is transforming with the intelligent application of blockchain solutions.

While blockchain has an immense scope of adding value to many industries, its implications in the retail sector are enormously impressive. As a retailer, you can reap the incredible benefits of blockchain in driving effective organizational changes.

Blockchain in the Retail Industry

This blog delineates the unparalleled advantages that blockchain solutions can offer to the retail industry. You need to understand how blockchain holds great potential to drive immense value addition in retail businesses if you are a retailer.

However, firstly, to be on the same page, it is essential to look at the definition of blockchain. The better you understand what blockchain is, the greater your understanding of the business benefits of blockchain.

What is blockchain?

Speaking of the disruptive technologies of the contemporary world — blockchain technology takes a significant lead over other technological advancements. It may have initially started with transforming financial systems, but today, blockchain technology finds wide-ranging applications across different sectors.

Blockchain is a decentralized and immutable ledger facilitating records of financial transactions and assets in an enterprise network. Assets here can include both tangible and intangible assets that can be tracked or traded in a highly secure manner via a blockchain network.

Now that we have established a clear understanding of blockchain, let us look at its incredible benefits for the retail industry.

Significant advantages of blockchain for the retail industry

1. Optimized supply chain operations

It is correct to say that supply chain operations make the backbone of the retail industry. For retailers to succeed in their business objectives, they must drive consistent enhancements in their supply chain operations.

The equation is quite simple; the more optimized your supply chain and inventory management operations are, the greater your success in retail will be. This is something you would surely agree to, isn’t it?

Retailers investing in tech advancements streamline supply chains

Retailers across the globe are now investing in state-of-the-art technological advancements to streamline their supply chains. More specifically, retailers are now integrating blockchain technologies into their supply chains to enable maximum operational efficiency.

The market for blockchain technologies in supply chain operations is expected to grow at a staggering CAGR of 80 percent by 2025, as per Allied Market Research. As a result, the blockchain-enabled supply chain solutions market is forecasted to reach USD 9852.9 million in the projected period.

Retailers helped by blockchain technology

Such scintillating numbers speak for the massive scope retailers see in blockchain technology to optimize their supply chains. Incredible, isn’t it? But what are the actual benefits of blockchain technologies in supply chain operations that attract retailers?

To explain, the foremost benefit of blockchain in supply chain operations is high traceability. With blockchain, you can track supplies in real-time through all stages in the supply chain and store all the information on a decentralized ledger for improved traceability.

In addition to improvised traceability for managing supply chain issues, blockchain also promotes greater transparency in the supply chain. Subject to this transparency, you will be less vulnerable to fraudulent purchases as a retailer.

Blockchain logging product activities

Besides, blockchain technologies can improve automation in supply chain operations by logging product activities for minimal inaccuracies in the system. Further, blockchain integration also enhances the overall security of the supply chain and inventory management operations.

Optimized Data Security in the Global Supply Chains for the Retail Industry

To explain, blockchain enables optimized data security in the global supply chains of large retailers. Furthermore, with blockchain facilitating supply chains, businesses get an excellent opportunity to build higher credibility.

2. More secure payments

We all know that companies and retailers all across the globe are increasingly accepting blockchain cryptocurrencies for transactions. Some of the top retail companies accepting cryptocurrencies include Home Depot, Starbucks, Amazon, and Overstock. Besides, even Microsoft accepts cryptocurrency in lieu of its software services.

However, the idea of introducing blockchain in retail payments is not limited to offering consumers another option in terms of payment. Instead, the concept of securer payments is driving more and more retailers to switch to blockchain payment systems.

Blockchain technologies offer greater security than credit cards and other forms of internet payments. With blockchain-enabled payment mechanisms, you can achieve greater consumer and supplier payments security.

Furthermore, blockchain can enable your retail business to reap incredible benefits like faster settlement of payments in a decentralized mechanism. Besides, the usual payment providers in retail charge exorbitant privilege fees from retailers hence, reducing profits.

However, with blockchain payments, you can significantly reduce this fee and boost your profitability greatly.

So, as you can see, blockchain offers a more transparent payments system with enhanced security, but it also comes with incredible cost benefits. The risk of fraudulent consumer or supplier transactions is minimized. All transaction records can be effectively stored in a decentralized manner.

As a retailer, you make multiple transactions daily, and blockchain databases can work amazingly well to secure these transactions.

In fact, with blockchain, you can create your cryptocurrency, which will be specifically used only for your retail payments. This can be a great way to win the trust of your customers by offering them a highly personalized and secure payment system. It sounds like a great idea, isn’t it? Blockchain is undoubtedly the future of business payments.

3. Quick resolution of vendor disputes

Vendor disputes are common in retail businesses, and their vulnerability is likely to be high. Further, vendor disputes can be highly time-consuming, and in the course of this time, they can result in heavy losses for the retailers.

It makes complete sense that you want to avert these issues as much as possible. However, even if they occur, you certainly want them to be resolved in real-time such that you do not have to bear any loss of trade.

Given the high traceability feature of blockchain, you can resolve vendor disputes effectively as all the information regarding the issue will be easily available to access. Therefore, you save a lot of time in case of conflicts with the vendors, and the problems can be resolved with credible information. In this way, you can avert substantial trade losses that may directly impact your business.

4. Enhanced identification of counterfeits

Retailers are often burdened with the task of ensuring that their customers do not receive counterfeit products. Unfortunately, as technology has grown by leaps and bounds in the contemporary world, the market for counterfeit products is also expanding.

Once you lose the trust of your customers because of counterfeit products, it will be tough to retain them. Hence, you have to double-check that your customers only receive authentic products from your side.

However, with so many orders and transactions involved, detecting counterfeit products will never be an easy task, right? But, thanks to blockchain technologies, you can now ensure product originality in a more effective and hassle-free manner.

To explain, when you track the entire supply chain with the integration of blockchain, you can verify the originality of the products with greater precision. In addition, you will be able to track if the sources of the products are authentic or not.

In case, there are any disruptions in the supply chain, you will be able to identify them when you track every point through the blockchain. Quite an intelligent application of blockchain technologies, isn’t it?

You can persistently ensure that the authenticity of the products is verifiable at all times. Moreover, if any gaps hint at the possibility of counterfeit products, you can learn about them in real-time.

5. Greater effectiveness in predictive maintenance

The retail industry directly correlates with fleet management operations and sophisticated machinery. Therefore, any disruption in the fleet or machinery can result in delayed shipments or operations. This is where the significance of effective predictive maintenance comes into the picture.

The predictive maintenance technique aims to monitor the state of machinery, equipment, and fleet to ascertain the requirement of maintenance works. Subsequently, based on a data-driven approach, equipment repair and fleet are carried out to avert collapse.

So, basically, as a retailer, you can primarily benefit from predictive maintenance as you can resolve maintenance issues even before they arise.

You also need to know that blockchain technologies can play a vital role in worthwhile predictive maintenance. For example, in a decentralized manner, blockchain technology can store information on the condition of vehicles in the fleet and the equipment used in retail.

Blockchain can effectively coordinate the entire maintenance history of vehicles and equipment. You can track the history of the maintenance works performed in the past. Subsequently, you can plan the further repair works to avert breakdown.

Consequently, with enhanced predictive maintenance enabled by blockchain, you can experience higher uptime concerning your fleet and machinery. Besides, you can also avoid unnecessary repair costs by tracking the maintenance history efficiently.

6. Improvised marketing

Who says retail brands do not have much to do with marketing? On the contrary, marketing is as essential in the retail industry as any other business. As a retailer, innovation in marketing is your best chance to acquire new customers, especially in an environment where customers directly interact with brands through digital channels.

The need of the hour is to design targeted marketing campaigns that directly engage your target audience. Of course, the greater the personalization, the better the outcomes of your marketing efforts will be. But does blockchain have anything to do with marketing? Can blockchain help with improvised marketing campaigns as well?

Well, the answer is a definite yes! Blockchain can also play a game-changing role in the vertical of digital marketing. The first benefit of blockchain in marketing is that you no longer need to rely on third-party marketing platforms when you have precise data on marketing performance metrics.

To explain, when you have accurate data concerning clicks, impressions, average engagement rate, and other crucial digital marketing metrics recorded on the blockchain, you can drive greater self-sufficiency in your marketing operations.

Besides, with accurate data on the key performance indicators of digital marketing, you can design more effective advertising campaigns targeted at specific audiences. Understanding the implications of key metrics will help you cultivate greater personalization in your marketing campaigns. As you know, personalization is indeed the most significant marketing trend in the contemporary business world.

Moreover, when you are handling so much customer data to enhance personalization in other marketing campaigns, the security of this data becomes very imperative. People have legitimate data concerns after the data scandal involving Facebook and Cambridge Analytica. As a result, a large share of your target audience is reluctant to share their personal data. That definitely does have an impact on customer relationships.

However, when you integrate blockchain, you can address your customers’ privacy concerns and once again win their trust. On the blockchain, you can store customer data encrypted and decentralized. Consequently, you can inspire greater confidence among your customers.

You can effectively address your customers’ privacy concerns when you integrate blockchain databases to secure data.

Therefore, blockchain in marketing means optimized targeted adverts, greater transparency in marketing campaigns, and better customer relationships. Overall, all these benefits will add significant value to your marketing success, and you can win more customers.

With improvised data-driven marketing based on blockchain, you will only see your marketing ROI scale new heights.

7. Automation of administrative tasks

The retail industry involves a wide range of recurring back-office administrative tasks. If you can automate these tasks effectively, you can improve the overall efficiency. However, effective automation is synonymous with adequate technology. This is where blockchain retakes the lead.

Blockchain technologies can efficiently automate repetitive tasks like payroll administration. Hence, it can help your staff focus on other tasks requiring greater human intelligence. Benefits of blockchain in back-office administration include smart contracts that can automate freelancers’ payments upon completing their work.

Indeed, better administration will lead to better business outcomes and greater success. Do you still have doubts about the increasing significance of blockchain in the industry?

To recapitulate, blockchain technologies hold the key to the future of the business world. The advantages of blockchain solutions are no longer limited to finances. The culture of blockchain technologies is thriving with significant momentum across industries, and so is the investment.

Talking about the retail sector, particularly the merits of blockchain integration, are fabulous and ceaseless. Blockchain can unimaginably transform the retail industry. Thus, the sooner you acknowledge that, the better it is for your retail business.

Image Credit: by Czapp Árpád; Pexels; Thank you!

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Automation in the Workplace: if You’re Not Automating, What are You Really Doing?

Automation in 2022 is different from the robot takeover that some people have envisioned. Automation in the workplace now refers to platforms and systems that allow a layman to accelerate efficiency through digital means. As a result, manual efforts are minimized, making business processes more cost-efficient, error-proof, and consistent.

Additionally, the saved amount of time can be used for more valuable business tasks. It is reported that employees burn over 30% of their working hours simply by looking at paperwork- a task that can be easily automated.

Automation is a Must in the Workplace

The advantages of automation are hard to ignore. According to a McKinsey report, the benefits are three to ten times the cost of implementing automation.

The pandemic taught us that digital transformation sits at the cusp of business goals.

It’s impossible to be digital-first without including a certain degree of automation or business processes. Before the pandemic hit, the need for digital skills was minimal. In a work-from-home and staycation era, employees need to develop technical skills and integrate automation with their daily tasks.

Apprehensions to Automation in the workplace

There are apprehensions still attached to automation, such as replacing jobs, decreasing wages, and possibly making human skills redundant- all at an extremely steep price.

Allow us to bust these myths for you

“I’m going to lose my job.”

A World Economic Forum study predicts that automation would boost the job market by introducing nearly 58 million jobs. In all honesty, if your job can be simplified through automation, it probably will be. But it’s also going to give rise to a plethora of job opportunities that you can leverage by upskilling.

“It simply costs too much.”

Due to inefficient processes, organizations lose 20 to 30% of revenue every year. Automation improves processes and allows you to free up expensive resources (human resources being one of them) to be utilized on other cash cow activities. The benefits of automation significantly overpower the cost of adoption.

“My skills are going to be useless.”

According to a McKinsey report, essential data input and processing skills will be particularly affected by automation, falling by 19 to 23% from 2016 to 2030. But automation will also give rise to a range of skills that will be high in demand- from emotional and cognitive abilities to entrepreneurial and risk-taking behavior. A surge in automation doesn’t signify a redundancy in skills; rather, it pushes for a shift in skill sets.

FOMO on automation in the workplace — why it’s absolutely justified

Even if you’ve been living under a rock, it’s hard to ignore the benefits that automation can bring to workplaces.

Helps your employees enjoy their work

Automation does away with mundane and repetitive tasks and allows employees to focus their energy on innovative tasks. For example, automating workflow processes like a customer grievance redressal system enables your company to focus on creating better products, innovative solutions, and growing the business.

Think about it: would your employee rather send out standardized emails or think about what’s the next new product they could develop at work?

Humans mess up; automation doesn’t

Automation in the workplace helps businesses minimize errors. Simple tasks like entering the correct email address into a CRM program or placing the right amount of orders to stock inventory are prone to human errors.

If properly utilized, automation tools can provide data and workflows through a centralized process that helps decrease human oversight- through redundancy and duplication.

Growth and scalability with automation in the workplace

When manual processes are automated, it saves time and frees up valuable resources that can aid in the growth and scalability of businesses. Sales outreach emails can be automated to reach people at an unmatched scale by human labor.

You cannot save time, but you can use time differently- and that’s the value add that automation brings into the workplace. From automated administrative workflows to chatbots, automation tools help employees win back nearly 20% of their day.

How can a company boost workplace automation?

Push for upskilling

The fear of automation taking over jobs can only be dispelled by constant upskilling. A McKinsey report expects advanced IT and programming skills to grow as much as 90% between 2016 and 2030. Basic digital skills will be imperative for an organization to thrive, and this is where tools like no-code platforms become a boon for non-technical employees.

Adopt automation tools rapidly

Automation tools like no-code platforms allow you to beat the race to digital transformation at every level. From automating marketing workflows to employee onboarding systems, no-code platforms will enable you to accelerate automation in each department- whether that’s sales, finance, logistics, or even communication.

Unlearn, learn, unlearn

When digital transformation sits at the forefront of business efficiency, it’s imperative to get your employees enthused and excited about being a part of the digital revolution. This involves helping them unlearn the fear of automation and providing the necessary skill-building tools to learn the beauty of automation. Workshops on no-code platforms, expert sessions, etc., would aid in this.

To sum it up

Automation is the future of growth and scalability. From providing the necessary training for employees to adopting automation tools, companies have to make automation a part of their workplace actively.

The value add isn’t restricted to business goals- it also aids in long-term growth and boosts the morale of employees who can utilize the time saved from completing mundane tasks to delivering better products and services.

A company’s success will largely depend on its proactiveness to instill a culture of lifelong learning throughout the organization. This cultural shift will hold the most value- as sectors, skill-sets, and employees change, the only constant will be continuous learning.

This degree of adoption will make the difference between being the best and doing just enough to beat the rest.

Image Credit: Provided by the Author; Thank you!

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Exciting Dad Gifts — and One to Get for Yourself

It’s always difficult to come up with great gifts for dad. Many people think it’s their duty to “update” dad and I’ll admit to thinking that thought before myself. But these days, the ‘ole shirt and tie just doesn’t cut it.

Don’t you feel dad “needs” something that he’ll be excited about — or at least an item that will surprise him?

Last holiday season I bought dad a Bidet (just for a laugh) and he nearly choked on his punch — but “the king’s seat” (as I call it) has been a hit ever since. Now, dad has installed a bidet in every bathroom in the house! Who knew?

This year we’re putting out several lists, coming out before the usual June first deadline — so that you too — can think outside the box. Most of these items can be found on Amazon or even in your own local stores.

As a Dad Myself — Yes, I Owe Myself the Best Dad Gift

1. VIVE Flow VR Headset

Vive Flow VR Headset

So this is the Father’s Day gift I got for my very best self. Of course, now I’ve seen the VIVE Pro 2 — that may have to be a gift for my best self, too.

I love the look of the Vive Flow Headset — I’d say, maybe even like it better than regular headsets. Rather than that straight flat-front look of headsets — I have those too — but then line up with the bros for a pic after gaming with the Vive Flow Headset. It’s a far classier look.

BUT NOW…

I saw this headset too.

VIVE Pro 2

VIVE Pro 2

2. Power Bank Battery Pack for Oculus

Power Bank Battery Pack for Oculus

You likely have your Oculus already. This is the Oculus power bank battery pack that lets you have a ton more time (about 3 hours more) on a charge. You don’t want your headset failing due to a weak battery. This is really lightweight and portable. This is for the two-pack — and you’ll want the two-pack.

3. Deconstructed Retro Artwork for Dad.

Deconstructed Retro Artwork for Dad —

Best Seller Deconstructions

This artwork is incredible. I had to use two photos here to try and show you the details. We went a little overboard on these after we saw the quality. Okay, so I got one for myself at my home office (the first Apple iPhone) and my best editor here at ReadWrite received the Apple iPhone X as a gift for excellence.

The display was on the wall the next day. A seriously cool gift by XREART. Remember Game Boy?? My brother is such a Game Boy fan — I’ve already purchased one of the Xreart Game Boy’s for his birthday and the birthday isn’t until September. You want one of these?

4. AIRTHINGS View Plus

AIRTHINGS View Plus

The AIRTHINGS View Plus is considered the most advanced air quality monitor on the market with 7 sensors including radon, particulate matter, and CO2, — it’s WiFi connected and has a display. You’ll like this sleek little piece. With all of the air pollution — and people like me with asthma you want better air quality.

If I have one more wildfire by my house this year I don’t think I’ll handle it very well. My wife got this View Plus because we had a radon incident this year. Did you know your radon and CO2 monitors are too close to the floor? We didn’t either. That stuff rises and you can get sick with your monitor too close to the ground. This air monitor can be set up higher on an end table or desk. I’m getting these for everyone in the family this year — not just dad.

5. Withings Sleep Tracking Mat

Withings Sleep Tracking Mat

I should really put a couple of pics here so you can see this Withings Sleep Tracking Mat. I’m supposed to wear a C-pap machine — I detest it! The lines on my face in the morning bug me — bug me? No — they make me angry. Let’s get this straight — I’m not diagnosing anything for you — but I decided to try this mat out and see if I can see what is happening with my sleep. It tracks and monitors breathing disturbances.

Now I can see for myself what the doctor is saying. I can witness the length and intensity of the breathing pauses and then read about what that is doing to my overall health. Okay, so I’ll likely be back on the C-pap — but I feel better about that choice. Take a look at this mat for yourself and for your loved ones. Dad! Seriously — your snore is louder than your old lawnmower.

6. Colsen Fire Pit

Colsen Fire Pit

There is nothing like a fireplace for ambiance — nothing. Here is the Colsen Fire Pit. This item is a portable fireplace. I have a fireplace gas insert in nearly every room in my house. Well, dad has the fireplace fetish too — but he doesn’t have one on the deck — or by his chair on the deck. And dad doesn’t have one in the car to take a fireplace to the beach. This is really a small and a little heavy for some — but SO worth the effort. Very fun item.

7. Afloia Air Purifier

Afloia Air Purifier

The Afloia Air Purifier is for larger rooms in the home (1500 Sq.Ft). One of the best features of the Afloia is that it has an H13 true HEPA Filter and 4 stage filtration. If you want to help dad breathe better — and yourself — look at the Afloia.

I finally took one of these filters to my cabin last year because of the locals who zoom past on a dirt road at 80 miles an hour in their trucks. Yes, the cabin sits back from the road nearly 300 yards, but on a breezy day, that dust wafts across and coats the trees and surrounding area — choking me (and dad when he’s there). The Afloia helped a ton and I’m sending for another one for dad’s house.

8. bioBidet Slim Zero Bidet Seat

Bemis bioBidet Seat

This bioBidet Slim Zero Bidet Seat is the seat I got dad last year and it was a serious hit. (Read at the top of this list.) This has a slow close, so no pinched fingers — a great night light. I had someone come and install it — but you can easily install this yourself. Has a dual nozzle so it’s perfect for the whole family.

Quick, funny story for you. My sister decided that she had to sit AND see how the dual nozzle works — so she sits there, scoots back, and looks. Yeah, she got squirted in the eye — the joke will never leave the family history lore — never. We all love this product.

9. Accell Power UV Sanitizer

Accell Power UV Sanitizer and Charging

The Accell Power UV Sanitizer has wireless charging. With all of the virus stuff still in the news and on our minds — put your mind at rest. All belonging can be germ-free. Believe me, dad will love this gift even if mom takes it over for herself.

The top opens up and you can stick in your cell phone — clean. The jewelry stuff — germ-free. Plus you can use the charging station at the same time. I’m getting one of these for the office. Everyone takes their phones in the bathroom and there is likely stuff we don’t want to think about on those phones.

10. KOVOL Sprint 120W USB C Charger

KOVOL Tech USB C Charger

The KOVOL is a powerful charger — does a really fast charge on Macbook via both USB-C ports. Low-Heat and safe charging ensures safe features like high-temp or over-charge issues. Universal compatibility, Pioneering GaNII Tech, Travel friendly

What you get: Kovol 120W USB-C Charger, 4.9ft AC power cord, user guide, 24-month warranty, and 24/7 customer service.

This is a nice gift (get two and leave one in your backpack). You get the Kovol 120W USB-C Charger, 4.9ft AC power cord, user guide, 24-month warranty, and 24/7 customer service. I did notice that it’s on sale on Amazon for less than I paid for mine.

Conclusion

I plan on about two more of these Father’s Day — Dad’s Gift Idea lists. Enjoy them — and leave comments or let me know what worked for you and your dad.

Image Credit: Most of these images came from either the item’s website or Amazon.

Top Image Credit: by KoolShooters; Pexels; Thank you!

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Fix Outdated Content To Boost Your SEO Results

Old, inaccurate, and irrelevant content can drag your site down in Google’s (and your audience’s) eyes. Invest the time to find those pieces, delete what doesn’t work, and update what could work again. You may just spin your content chaff into SEO gold. Continue reading →

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Exploring the Key Mobile Traffic Trends for 2022: Is the Pandemic Still Defining the State of Mobile Search?

In this post, we explore mobile data from our recent State of Mobile study to uncover recent trends and look toward the future of mobile search. Looking forward, will mobile trends rise or decline? How has the app landscape changed? What channels drive the most mobile traffic? We‘ll answer these questions and more!

from Semrush blog https://www.semrush.com/blog/key-mobile-traffic-trends


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The Deadline Struggle Is Real. Try These 5 Tips to Manage It

Deadlines. Can’t live with ’em. Can’t get anything done without ’em. But you can make them less stressful on you and your team with a few adjustments to your approach. (Bonus: You’ll probably see more – and better – work come in on time.) Continue reading →

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Google Marketing Live 2022: The Only Recap You Need

It seems like just yesteryear that Google Marketing Live announcements were fewer but bigger. Like responsive search ads in 2018 or max conversion value in 2019. Performance Max could pass as the big one for last year’s event, but it remains a pretty controversial campaign type.

But what does it all MEAN?!

The point being, Google’s list of updates seems to be getting longer each year and harder to identify what actually matters. That’s why we’ve created the no-nonsense recap to simplify things and help you figure out what adjustments or preparations you need to make.

The top Google Marketing Live 2022 updates

As I just mentioned, there were lots of small features, developments, betas, and tools tossed about in this year’s event, but they can be grouped into five core categories:

Table of contents

Performance Max (of course it gets its own category)

Insights Page

Reporting

Google Shopping

Miscellaneous ad updates

And for those of you big picture folks, you can see a full list of the updates (according to Google) at the bottom.

1. Performance Max updates

Performance Max campaigns, released last year, are Google’s latest pride and joy. We’ll let you decide if Performance Max is right for you, but as a reminder, this campaign type allows you to advertise across all of Google’s properties with a single campaign.

Burst Campaigns & in-store goals: These are currently available in beta in Local campaigns but will soon be available in Performance Max. In-store goals allow you to optimize for store traffic, in-store sales, and other local actions. Burst Campaigns will work in tandem with your in-store goals to help you run short-term campaigns during seasonal spikes that drive results faster.

Experiment tools: Experiment tools are currently in beta for Performance Max campaigns that don’t have a product feed, and will be fully launched over the remainder of the year. This feature allows you to measure incremental improvements in performance when you add Performance Max campaigns as a complement to existing campaign types.

Explanations: Rather than having to cross reference data across your different reporting tools, this feature will help to identify reasons for performance changes right within the Google Ads interface. The idea, Google explained, is to add more transparency to how automation is working in your campaigns.

Google Ads recommendations and optimization score will soon be available for Performance Max campaigns. Google will suggest optimizations you can make for your targeting, budgets, and asset groups based on your campaign settings and goals as well as external factors like search volume and trends.

2. Insights page updates

The Google Ads Insights page is also not a new feature, but Google will soon be adding more data to the page to help you make optimizations based on your campaign performance and broader search trends. There are three new types of insights:

Attribution: Multi-touch attribution information, which helps you understand conversion paths users take across Google channels, is currently available in Google Analytics but will now have a section in the Insights page.

Budget: This feature will suggest budget optimizations based on how your campaign budget is pacing against performance.

First-party audience: These insights will use your first-party data to help you to see which segments are performing best and also provide signals for Google’s machine learning to optimize campaign performance.

The Insights page will also be available for Manager accounts.

3. Google Shopping updates

There were a lot of i words thrown around this year when it came to the Google Shopping experience—lots of repetition of “inspiration,” “ideas,” “immersive,” and “intuitive.” I’ll let you do with that what you may, but here are the core Shopping updates that matter to ecommerce businesses.

Checkout on Merchant: Shoppers will soon be able to checkout directly from a listing, which will bring them to the checkout page on the advertiser’s site. This is starting with Shopify and Walmart and will expand to other partners and retailers in the future.

Immersive shopping experience: For apparel, there will be a “powerful, swipeable, visual feed” rolling out just in time for the holiday season. Organic results and Shopping ads using rich images and descriptions will be blended in the SERP and users can also swipe up on an ad to see more product detail.

3D AR: We will also soon be able to view 3D models of products right in Search results.

Product feeds on YouTube Shorts and Search: Google talked about the browsing experience and shopping experience becoming more blended—for example, “an entertainment moment can turn into a shopping moment” in an instant, “when you least expect it but really appreciate it” (might this have to do with SERPs for queries with no commercial intent having more ads now than ever? See our Search Advertising Benchmarks Report 🤔 but I digress). As a result, product feeds will soon be available on YouTube Shorts and Search as a way to “turn your video action campaigns into actual digital storefronts.”

Product improvement recommendations: This tab within Google Ads will allow retailers to not just optimize their campaigns, but their individual products. It will detect and diagnose issues with your products like missing information, insufficient bidding, and more.

4. Reporting updates

Conversion modeling updates: Improvements in conversion modeling include supporting more browsers, enhanced conversions integrations with HubSpot, Tealium, and other platforms, on-device conversion measurement, and a lead funnel report to see how your qualified and converted leads are performing.

Simplified tagging: One Google tag will replace the Global Site Tag for all Google Ads and Google Analytics accounts. Manage tags centrally without additional code.

GA4 new Home experience: Google Analytics 4, which is set to replace Universal Analytics next year, will soon have a new Home dashboard that automatically uncovers insights and predictions based on where your audience members are in their journey.

5. More Google Ads updates

Asset library: The asset library in Google Ads is going to become a “one-stop shop” for advertisers to import, collaborate on, and share all their assets for all campaigns in one place, with integration with Google Drive. You’ll be able to create a video and publish it to YouTube directly in the asset library in less than 60 seconds, “faster than I can pop a bag of popcorn” (let’s fold popcorn into Performance Max Burst Campaigns for faster popping, whaddaya say Google?). According to Google, you’ll be able to make an ad with only five image, logo, and text assets.

Messages in ads: Google Business Messages will allow consumers to message with businesses directly in Search ads.

YouTube Shorts ads: According to Google, YouTube Shorts is now averaging over 30 billion daily views, four times as many as a year ago. Also, “75% of people agree YouTube enhances the traditional shopping journey by delivering unexpected inspiration.” As such, ads on YouTube Shorts are now available.



The full rundown of Google Marketing Live 2022

We’ll leave off with a list of all the announcements Google listed out at Google Marketing Live, categorized by available now and coming soon.

Available now

Immersive shopping ads

Asset library

New Home experience in GA

Conversion modeling updates

DDA as default (although we thought this was already a thing?)

On-device conversion measurement

Visual product feed

AR in Search

Performance Max (yes, we know, thanks Google)

Coming soon

Ads on YouTube Shorts

Video on Discover (not to be confused with Discovery campaigns. This refers to the Google Discover app)

Google audiences for CTV

Performance Max

Experiment tools (not to be confused with Experiments, a feature available for other campaign types in Google Ads).

Insights and explanations

Search lift tests

Conversion lift tests

Automatically-created assets

Message a business in ads

Insights page

Attribution insights

Budget insights

Audience insights with first-party data

Available for manager accounts

Optimization score for every campaign type

My Ad Center

Privacy-safe advertising

MMM improvements

Google tag

More support for enhanced conversions

Lead funnel report

Visual ad experiences in Search

Product feeds in YouTube Shorts & Search

Store sales in Performance Max

Checkout on Merchant

Product improvements in Google ADs

Loyalty benefits on Google

The post Google Marketing Live 2022: The Only Recap You Need appeared first on WordStream.

source https://www.wordstream.com/blog/ws/2022/05/24/google-marketing-live


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10 Best Apps for CXO (2022 Edition)

Whether you are an entrepreneur, CEO, or any other c-suite position holder of a company, employee management, workflow, and customer engagement is essential for business growth. Unfortunately, sometimes it becomes challenging to put everything in a box. Right?

Luckily, with the technological advancements, mobile devices now include useful mobile apps and software to handle such problems effectively. Once the executives and managers know how to resolve issues, no one can hinder their businesses to flourish among the competitors.

The secret to those solutions is right here. Here is a list of the 10 best mobile apps, comprehensively explained with features and benefits to help you out during messy situations. Definitely, after analyzing each application carefully, you can emulate success. So, spare some time and have a look!

Expensify

Expensify is one of the best tools that help business owners to manage their expenses effectively. Since managing and handling funds are vital for firms, effective management is the top priority here.

Unfortunately, giving access to everyone is not safe, especially, when it comes to financial management. It is no surprise that trusting someone can cause significant damage to the long-term progress of companies. To get rid of such issues, the rising boom of Expensify is making it easier for firms to monitor their financial spending with no fear of security breaches.

Features

Incorporates advanced and progressive tax tracking systems.

Conversion of multiple currencies.

Monitoring of billable materials.

Controls the maintenance of timesheets.

Offer various designs and templates for projects.

Benefits

The app includes a multi-level workflow system that enables companies to customize according to the organizational structure.

It saves time and effort by automatically syncing accounting systems.

One-click receipt scanning immediately captures all details in a single report.

Detects duplicate receipts promptly and verifies each transaction carefully to keep the users safe from financial scams.

Slack

In terms of productivity, performance, effective communication, and organizational culture, Slack is perfect for all kinds of businesses. It is a widely-used communication application that enables correspondence with each other in a company.

One of the app’s best features is the flexibility to group talks into several channels to keep them informed and well-organized. That is why it has become a successful app and a symbol for instant chatting.

Features

Cloud-based mobile apps.

Availability of quick notes.

Offers theme personalization.

Provides easy global access.

Promotes transparency and inclusivity.

Benefits

Slack has completely changed the way firms interact by connecting individuals together to work as one united team.

You may get the instant information you need, regardless of your location and time zone.

Each individual in an organization has the access to shared information so that all team members can participate in the discussions.

It works on all devices, whether it is Android or iOS, allowing you to find and access your team.

Allows executives to manage projects more quickly without having to worry about email and meeting schedules.

Trello

Trello is gaining rapid popularity among business executives since the app is perfect for collaborative and well-organized visual work. It allows teams to brainstorm ideas, plan, and work on a project collectively.

The app includes Kanban boards that visually delight companies because it can store plenty of information on its server. The app also informs team members about the work progress and who is the responsible individual for each task. It is particularly beneficial for large companies, with mass employees that require access to specific lists or cards.

Features

User-friendly.

Cloud-based platform.

Automate and organize tasks flawlessly.

Offers unlimited power-ups.

Provides flexible layouts.

Benefits

Organize and manages your team’s toughest projects simply and easily.

With the help of calendar power-ups, executives and managers can incorporate deadlines and comments about the projects and tasks.

Benefits in breaking larger tasks into smaller ones.

Arrange blog posts and articles on the site notes.

Enables time tracking to record the performance of each team member.

Skedulo

Skedulo is another amazing company management application that provides effective on-demand scheduling based on insights from real-time businesses. Managing your desk can be complicated at times, and your customers are not aware of your situation.

However, with the help of Skedulo, executives can easily manage and analyze their workforce through mobile apps. Simply put everything in front of you and integrate Skedulo with your firm’s tech stack to work smartly.

Features

Easy customization.

Efficient in managing the workforce.

Automate schedules.

Data encryption via cloud-based access.

Higher productivity.

Benefits

This app is used by both Android and iOS users; therefore, executives can easily schedule their business activities. In fact, it saves scheduling time by about 48 percent.

It also gives field workers the ability to manage their own schedules.

Easily captures and stores data for record-keeping.

Resolves issues faster by understanding productivity.

The app generates proper invoices with a quick response time due to a simpler and automated data collection tool.

Todoist

This application allows business officials to organize and prioritize all activities and projects without any hassle. Todoist is a simple application getting fame due to its effectiveness in the corporate world.

This competitive edge of Todolist is a large number of plugins and apps available for browsers, emails, mobile devices, desktops, and laptops.

Features

Track the number of logins

Automate backup

Synchronizes real-time data

Shareable and collaborative

Users can be easily added and removed.

Benefits

Prepares everything with clear, actionable steps that the entire team can comprehend.

The app allows the uploading capacity of up to 100 megabytes (MBs) of data.

Maintains a snapshot of pending, assigned, and completed tasks to track down the progress of team members.

Break down massive projects into smaller, easier-to-manage activities.

Significantly reduces the time of emailing, meetings, and group chats.

Mind Jet, Mind Manager

Coming up with creative ideas is an important part of a CEO’s job since it helps workers to be innovative and creative with viable solutions. One of the requirements for custom productivity app development is to create an app that enables creative expression.

As a CEO, Mindjet is exactly what you need to utilize during meetings, talks, and brainstorming sessions. You may make a visual representation of your thoughts and show it when necessary. This application exemplifies the notion of mind mapping as a tool for brainstorming.

Features

Adds clarity to projects and tasks.

Boost productivity through brainstorming.

Quick searching and file tagging.

Sync with Dropbox.

Incorporate markers and icons effortlessly.

Benefits

Users can visualize information such as photos, links, and notes by using mind maps.

Mind Jet includes budget estimates and equations. Also, for the project deadlines, Gantt charts are given to guide the team about the due dates.

It stores all of your data, for example, images, notes, reports, and links safely in one place.

Allows to communicate and share work with the team on a single project.

Easily breaks complicated ideas into simple and easier ones.

Evernote

Evernote is your go-to app for writing notes having 250 million current global users. Whether you need to write an idea for your business or the thoughts racing into your mind at night, Evernote is always there for you.

This award-winning software assists you in synchronizing your data across all of your devices. Free and premium copies of the application are available, allowing users to try out particular features before subscribing to the paid version for more.

Features

Productivity tools.

Incorporates Optical Character Recognition Technology.

Easily customizable.

Sync devices automatically.

Automated reminders for your tasks and projects.

Benefits

You can easily download the app on desktop and mobile devices.

Managers and executives can share their thoughts with other team members.

The app allows you to attach pictures along with a note.

Grants permission to add voice memos and audios right with the note.

By using Evernote, you can track your time, for example, you were doing before 15 or 30 mins.

Air Table

Air Table is becoming the most used application by executives. It is a wonderful alternative to shared Google Sheets that tracks and manages business and personnel information. Not just this, but it can also be used for research and project sprints.

The app works in the same way as a spreadsheet does, with rows and columns, and allows for relational database dynamics. Similarly, the system serves as a central hub for ideas, initiatives, material, and records. Users may access data and move it from one database to another while maintaining data integrity.

Features

Simple to use interface

Customizable features

Customer support

Allows third party integration

Database functionalities.

Benefits

A user’s access can be restricted to read-only or they can be granted the ability to update or create new databases.

The use of drag-and-drop tools makes organizing rows and columns simple for the users.

Allows you to use the Gantt chart to line up with the project milestones.

Effective for market initiatives.

A flexible database design is to handle your most complicated and unique processes.

Hootsuite

Hootsuite is a platform that allows businesses to schedule posts and campaigns across all social media networks. After you have planned and scheduled your social media posts, view them all in one place in a single calendar.

It is extremely useful for synchronizing your campaigns and organizing your social media channels by viewing them in the big picture. It can also increase the team’s performance and productivity.

Features

Manages various channels at a time.

Analyze your results.

Schedule multiple posts.

Quick reporting.

Effective customer service.

Benefits

For executives and marketers, it saves time and effort in social media marketing.

Easy monitoring of different networks in a single dashboard.

Useful analytical features enhance social media performances.

Hootsuite allows users to assign tasks and projects to the team members.

Enables sharing content and tagging.

GoToMeeting

The GoToMeeting mobile apps provide the flexibility and dependability you need to take your business to the heights of global success. The platform understands the value of interaction whether it is a business-critical meeting or just a casual met-up.

It is the most popular mobile meeting app on the iOS marketplace today, with over 2.5 million downloads and a user rating of 4.5 stars. So, what are you waiting for? There is no need to signup, you can join the sessions for free, without any hassle.

Features

HD quality video calls.

Simple and quick access.

Unbeatable uptime.

No need for downloading.

Meeting Locks.

Benefits

Authorize the control of the presentation to other guests so they can see presentations, mockups, reports, etc.

With a single tap, you can see all of your scheduled meetings.

Notify about meetings ahead of time.

Allows conversion with specific participants or the entire group.

Helps in brainstorming ideas together with all team members.

Wrapping Up

For better assistance, get in touch with the top mobile development company, Infinisys.co whenever it’s suitable for you. Share your thoughts and tell them how you feel about the trendy mobile applications. Once you are completely satisfied accomplish your business goals with them.

The post 10 Best Apps for CXO (2022 Edition) appeared first on ReadWrite.

source https://readwrite.com/10-best-apps-for-cxo-2022-edition/


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App Store Optimization Techniques and Strategies

Competing with millions of mobile apps, on the app store and Google play store, isn’t a breeze. In the first quarter of 2021, there were 3.48 million apps on the Google Play store. On the other hand, the iOS app store had 2.22 million mobile apps.

In both cases, getting your app noticed is indeed a tough nut to break. That’s why app store optimization is a must.

Store optimization is a marketing strategy that delivers measurable results. It is the process of optimizing, improving, and refining the app’s listing on the app store and Google play store. Different app store optimization tools can be used for making the process easy.

Thus, mobile app developers must use the best techniques that smoothen the chances of an app getting featured in top results. To improve the mobile app search ranking on the app store and play store, it is vital to focus on factors such as:

Name of the application

Wise keyword selection

Description

Inclusion of screenshots

App icon

Reviews & ratings

We’ll be covering all the factors and answering the question of why you need app store optimization services. But first, let’s understand the importance of app store optimization.

Why is ASO important?

Google stated that 48% of its users find new apps by scrolling through the play store. With that being said, 111.5 billion downloads are happening that way- random scrolling. But making it into the list of ‘downloaded apps’ is possible when you acquire professional app store optimization services.

As per experts, app store optimization is an amazing marketing strategy. It is, unarguably, the best way to push the mobile app.

It not only focuses on increasing the number of app users but aims to rope in as many prospective loyal users as it can. The higher the number of loyal users, the higher the conversion rates will be.

In case a brand misses out on implementing the ASO, it is willingly avoiding a major discovery channel. So, here’s a quick look at some ASO optimization tips & strategies that will increase search results, the number of organic downloads, and improve Google play and app store rankings.

What do App Store and Google Play look for?

App Store and Play Store share one common trait — Bridging the gap between the user and desired mobile app(s). They figure out the relevant apps by judging the user’s behavior and displaying the relevant product pages.

Let’s focus on the key app factors that major app stores always consider.

In All but NAME

Naming the app is equivalent to naming a baby. Hence, you should be considerate while choosing the right name for the application. A wise name choice will not only provide it an identity but improve search rankings as well.

Presently, all apps go on the app store and Google play store. Since both stores manage titles and keywords differently, your name/title approach should be store-specific.

Google Play Store

When you are creating an app for android users, you need to be concise with its name. This is because the play store gives a meager space of 30 characters. However, the keywords can be integrated into the description of the app.

App Store

When you create the app for the iOS platform, you get plenty of space. The iOS platform provides 255 characters which is more than sufficient. Hence, making a crisp and keyword-rich name is not a bad idea.

Strong Keyword Game

Keyword research is a prominent ASO strategy preferred by mobile app developers. The right amount of keywords injected helps users to find and download your app effortlessly.

The unsaid rule of the app store optimization strategy says that one mustn’t exceed the keyword insertion limit in the app description. After all, the app is for users and its description should make sense when read.

But how to stuff the right keywords if thinking of an app store optimization strategy? Here’s the answer.

Keyword Research

Companies offering app store optimization services always conduct thorough research before integrating keywords. Factors like demand, traffic, difficulty, and how many apps are using it are checked.

Using app store keyword tools for keyword research can simplify the work. You can go for the free tools or paid tools as they offer worthy insights about the phrases and keywords used extensively by the target audience.

Ubersuggest, Answer The Public, Google Search Console, Keyword Sheeter, etc., are some free KW research tools. Also, here’s a quick look at some pro tips for picking up the best keywords for your mobile app:

Include keyword(s) in the app name

Avoid adding prepositions/conjunctions

Use digits instead of spelling out figures

Prefer commas instead of space for separating keywords

Briefing About The App

Technically, the app store and Google Play Store ignore the algorithm. But here’s the twist- users prefer a description to know & understand what the app is all about. In this section, experts emphasize the importance of focussing on the core functionalities instead of SEO.

Always keep it to the point and try clearing user queries like:

The purpose of the application

How does the application resolve an issue?

Will it leave an impact by simplifying complex tasks?

Is it worth downloading?

However, it is vital to remember that conciseness is the key. Do not go overboard with too much information. Increased mobile app downloads are directly linked to user acquisition. The more the downloads, the higher will be the user acquisition rate.

High-Quality Screenshots- Hidden ASO Strategy

How to convince someone to download your app without saying a word? It’s simple- just show them the HQ screenshots. High-quality screenshots are the second-most influential factor after ratings & reviews when it comes to inducing the target audience to download your app.

Since users do not spend beyond 10 seconds judging the app, the appearance of the app product pages becomes vital. Hence, it should be visually appealing to make a big difference. To make it impactful, add the most engaging screenshots.

App Icon – The Face of Mobile App

The icon is the face of the app that represents the brand on digital platforms. A catchy app icon can be a game-changer and magnetize more users to download the app, hence, it is a key part of app store optimization. The app icon should be simple, visually appealing, and congruent to the purpose served by the app.

For the best results, always look at the app icons of business competitors. This will aid in figuring out the loopholes in their design that you can avoid and integrations that have been made for a better appearance.

Reviews & Ratings

All reviews and ratings, in terms of quantity & quality, impact the app store optimization efforts. Reviews and ratings can be mustered from users that have downloaded the app. These can be further used as consideration for potential users looking for the right app.

Furthermore, more than 56% of users go through the ratings of an app before downloading. Hence, for more organic downloads and positive reviews, it becomes vital to keep the users delighted.

All satisfied users will drop a positive rating for the app that upscales the visibility on the app store and Google Play Store. You can muster reviews from users by sending push notifications or integrating an in-app popup.

The Bottom Line

If you seek numerous downloads, positive ratings, higher app store rankings, and potential revenue, paying close attention to app store optimization becomes vital. It is a process that needs to be monitored periodically for evaluation for better results.

The app store and Google Play Store won’t spill the beans about ranking the app, but there are certain criteria discussed above that positively impact the mobile app.

Right from conversion rates, user acquisition, and organic downloads, you can scale measurable results by acquiring professional app store optimization services.

Image Credit: Provided by the Author; Pexels; Thank you!

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7 Tips for Powerful Link Building

If you’re looking for a way to expand your brand presence, drive traffic to your website, increase sales, or just grow your business in general, link building promises all of that and more.

However, it’s an element of marketing that very few business owners are actually familiar with.

In this article, we’ll explain what link building is and how it can be leveraged within your own strategy.

What is Link Building?

Link building is basically the process of getting other websites to point links back to individual pages on your website.

This is typically done by hyperlinking text within articles and blog posts and directing people to your own content.

“Google’s algorithms are complex and always evolving, but backlinks remain an important factor in how every search engine determines which sites rank for which keywords,” WordStream mentions. “Building links is one of the many tactics used in search engine optimization (SEO) because links are a signal to Google that your site is a quality resource worthy of citation. Therefore, sites with more backlinks tend to earn higher rankings.”

The benefits of link building reach far and wide.

First and foremost, it increases your organic searchability. This also has the added effect of enhancing your authority and credibility.

As a result, you can expect increased traffic to your website, resulting in more customers, sales, etc.

7 Link Building Tips & Strategies

Link building is not a perfect science. It’s constantly evolving as search engines make tweaks to their algorithms.

However, if you commit to the process and respect the fundamental principles, success is likely. Keeping this in mind, here are a few tips:

Create Quality Content

Don’t jump into link building too prematurely.

While links are shiny and attractive, they won’t do much good if you don’t have quality content. This is why it’s always a good idea to begin with some onsite content creation.

You don’t need to publish a dozen blog posts a week or have thousands of pages on your website. You do, however, need a handful of high-quality onsite resources that you can link to with confidence.

While this article isn’t focused on onsite content strategies, we would recommend looking into a pillar strategy.

A good content pillar strategy combined with a strong link building strategy will yield fruitful results in any industry or niche.

Know Your Audience

Anyone can go out and acquire a bunch of links fairly easily.

But if you’re interested in doing link building right, you also have to consider the publishers you’re choosing.

There needs to be a good alignment between the publisher, your website, and your audience.

If you run an HVAC company, for example, you’ll get the most benefit by building backlinks from home maintenance websites and DIY blogs.

You wouldn’t get nearly as much value from financial websites or political blogs.

Use Anchor Text With Care

Does it really look natural to include the exact anchor in every guest post, press release and off-site article you produce that links back to your services page(s)?

Google doesn’t think so.

When it comes to the anchor text you use, there should be diversity and variability.

In fact, here’s the right mix based on assessments of sites whose pages rank in the top 10.



Anchor text should be mixed in the following fashion. These are the averages for all top 10 results across all sites.





Building keyword specific anchor text to your homepage should be very different than your inner pages.

Your homepage is also a different monster when it comes to how you should be looking to build links to it.

Use the Right Link Velocity

If your site or page receives 10 links one day and 10,000 backlinks the next, do you think that looks natural?

Link velocity is defined by the number of links over a specific time horizon.

It would be more natural for a site to get 10,000 links in a week if the previously week it had an influx of say 8,000 or 9,000.

Let your links build on each other over time.

Viral links come into play and can be considered “natural,” but such instances are more the exception than the rule.

If you are able to acquire 50 links in a single month in a natural way, focusing on outreach strategies, then next month shoot for 60 and so-on.

Eventually your link momentum will shift and you’ll start to see an impact on your rankings.

Remember, what is a good link velocity for one site, may be a horrible velocity for another.

Hire a Link Building Service

Trying to do 100 percent of your link building on your own can be exhausting.

And unless you have some experience with SEO and content strategy, it won’t go very well.

This is why we recommend hiring a link building partner to facilitate link building on your behalf.

When researching link building services, look for companies that have established relationships with publishers.

You don’t want to use a company that’s only been in business for a few months.

There’s a lot of turnover in this industry and most services don’t last.

Choose a company that’s been around for a minimum of 10 years and that practices white-hat link building.

Stick With It

Link building takes time. It’s not something you do once and then expect immediate results. It’s an ongoing investment that gives you ongoing results. At a minimum, you should be investing in two or three quality backlinks per month as part of your standard marketing strategy.

Don’t Just Focus on Link Building

If you have the same number of backlinks and authority as competing pages, but they are outranking you for the terms you want, then it might be time to take a look at other areas that may be impacting your site.

While link building has a strong correlation to ranking in Google and other search engines, it does not have the highest correlation.

Diversity among factors is the best signal to Google for improved rankings.

Take the time to diversify away from just building links for SEO.

Enjoy the Benefits of Link Building

Link building requires resources. You must be willing to fork over some time, effort, and (in many cases) funds. But this isn’t an expense – it’s an investment. And like any good investment, you can expect a positive return on investment. You don’t have to build out thousands of links at once.

Start small and go from there. Your progress will compound and you’ll eventually enjoy the full complement of benefits that link building has to offer.

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Image SEO and Alt Tags: 10 Image Optimization Tips

Google Images gets millions of searches per month. Learn how to use image SEO to get more traffic to your site.

from Semrush blog https://www.semrush.com/blog/image-seo


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How to Achieve Digital Transformation Goals with Hyperautomation

Are you an IT leader feeling stuck in your digital transformation goals? You are not alone. One of the most challenging questions in digital transformation is how to go from vision to execution. You may not be as far behind as you think. You simply need to adopt a better approach. One approach that will make the whole process easier for you to achieve your digital transformation goals is called hyperautomation.

What is the Hyperautomation framework, and how can it help you achieve digital transformation?

Let’s work through what this framework is and how it can help you achieve your digital transformation goals. However, before diving into the ins and outs of hyperautomation, you must understand where it comes from.

Companies in the past, have opted to use the RPA approach to meet their digital transformation goals. Technological advancements over the last decade have seen robotic process automation (RPA) become mainstream. RPA provides multiple benefits to businesses across various sectors. RPA is a flexible tool that can automate repetitive tasks with minimized human intervention.

As of June 2021, 20% of major organizations have adopted RPA. This is rising from the 13% adoption rate in 2020. According to Gartner, around 80% of finance leaders have implemented or plan to implement RPA.

The limits of RPA for digitalization implementation

RPA technology has been instrumental to the digitalization of companies and has subsequently led to growth in terms of ROI. Although, some companies have struggled to implement RPA and leverage its benefits. There have been complaints that RPA is not scalable, as only 3% of organizations have scaled their digital workforce using this technology.

Some companies have highlighted issues such as lack of resources as a significant challenge facing RPA adoption. Additionally, there are also issues of staff resistance, process fragmentation, and lack of clear vision. This is in addition to the cost of implementation and potential fear of disruption.

This is where hyper automation comes in. The term coined by Gartner is more than a combination of two fancy words. They refer to the term as “hyperautomation” (one word) as opposed to “hyper automation.”

What is hyperautomation

Gartner has identified hyperautomation as one of the top strategic tech trends to look out for. Hyperautomation in its most basic form is the smooth automation of business processes using advanced technologies. It is an emerging approach to automation

So naturally, RPA is one of the main ingredients of hyperautomation. However, it goes further than RPA. Hyperautomation is not a process but a framework that combines advanced technology to strategically automate as much of a business as possible.

To put it simply, it is the desire to scale RPA that has led to the concept of hyperautomation. In addition to RPA, other tools necessary in developing a hyperautomation strategy include no code low code tools and applications, integration platform as a service (IPAAS), AI, machine learning, natural language processing, etc.

The main goal of hyperautomation is to improve AI-driven decision-making through the combination of RPA, AI, machine language, and data science. This often also leads to the creation of a digital twin of the organization, which in turn optimizes business processes.

Why every founder and business leader must understand hyperautomation

Gartner’s recent survey indicates that 85% of participants will either increase or sustain their organization’s hyperautomation investments over time, and over 56% already have four or more hyperautomation initiatives. Additionally, they mention that hyperautomation is rapidly shifting from an option to a condition of survival, siting outdated work processes as the No. 1 workforce issue.”

Secondly, the pandemic played a massive role in disrupting business processes across multiple companies. Considering hyperautomation literally creates a digital copy of your systems, it is no surprise that digital transformation and automation initiatives have rapidly grown since 2020.

For companies that managed to pivot, they ripped the benefits. Hyperautomation eases the burden that repetitive processes incur on an organization and its resources. The transformation that hyperautomation affords an organization enables it to operate in a more streamlined manner, often resulting in reduced costs.

Getting started with hyperautomation. How to implement a hyperautomation strategy

Are you thinking of digitizing your business by implementing hyperautomation in your company? First, you need to make a plan for optimization with a clear goal in mind. What is going to be the focus of your hyperautomation strategy? Subsequently, you need to carefully pick the right tools to help you reach that goal.

Choose a single platform

Companies looking to implement hyperautomation solutions can choose to use a single platform. This may be an integrated solution sourced from a single vendor or a combination of multiple solutions that can be integrated by using APIs or web services. As a result, there is a myriad of hyperautomation technology out there.

Use hyperautomation in your marketing department

One area of a company where hyperautomation can dramatically improve is in the marketing department. Marketing involves a lot of tasks ranging from following up with prospects to sending out emails to creating content, etc. With the concept of hyperautomation in mind, a marketer can leverage the power of business process automation (BPA) to digitize some of these processes and focus their attention on other more critical tasks.

Identify your business goal and let it guide you.

What are you hoping to achieve with automation? The purpose of hyperautomation is to improve your business processes and consequently speed up and better your operations.

Gather insights on the workflows and processes involved.

Identify the data and other inputs that will be needed to accomplish the processes.

To do this, you need to identify automation opportunities in your business that could be beneficial.

Remember to set your KPIs as you are setting your goals.

Which automation platform and technologies will serve your needs?

With your goals and measurement metrics, determine the automation platform and technologies that best serve your needs. Hyperautomation technologies have given rise to many tools to facilitate the process.

Use the tools that are relevant to you.

Do you need low-code or no-code instances of hyperautomation?

These are questions you must consider:

Learn more about these tools and which ones are available to you and your budget.

Make sure your chosen tools are sustainable.

Once you’ve researched and selected the right automation platform and tools that suit your business needs, make sure it’s scalable and sustainable over time.

Find out hyperautomation use cases where your industry competitors are already leveraging the tech.

The benefits of hyperautomation

Combining RPA and AI technologies offers the power and flexibility to automate where automation was never possible before.

Hyperautomation provides a high-speed route to engaging everyone in transforming the business, supported by automating more complex work that relies on knowledge input from people.

Combining AI data science, artificial intelligence, and RPA creates an intelligent digital workforce that can take on repetitive tasks to augment employee performance. These digital workers are the change agents of hyperautomation, able to connect to various business applications.

The creation of a digital twin of the organization (DTO). This is important because a digital twin makes the previously unseen interactions between processes, functions, and key performance indicators visible.

Imagine seeing business value creation as it happens and leveraging the intelligence and hyperautomation technologies to respond and identify new opportunities rapidly.

Or seeing business value gets attacked by unprecedented conditions in a pandemic.

Boost productivity and the higher-level functionality and workflow streamlining that hyperautomation offers your organization.

It enables employees to work smart and avoid repetitive tasks and offers your business a range of tools to drive its presence well into the future.

This has several key benefits. First, it allows organizations to complete tasks with consistency, accuracy, and speed. This, in turn, reduces costs and generally improves the customer experience.

BPA, RPA, and Hyperautomation

Business processes automation (BPA) leverages the use of AI and machine language to help companies automate repetitive tasks and scale complex processes. From this explanation of what BPA is, you can see how this is a hyperautomation process that does something similar to RPA but takes it a step further.

BPA solutions can be applied using BPA software tools

These tools can execute repetitive business activities where human force can be substituted.

As was mentioned with hyperautomation, BPA tools bring the possibility of creating a digital copy of an entire company.

Companies apply this solution to cut costs, increase performance, streamline business processes for simplicity, and achieve digital transformation.

Difference between RPA and BPA

Although BPA and RPA are similar in their goals to foster digital transformation and optimize business processes for improved productivity, they are also very different.

The primary distinction between the two is that BPA software typically builds automation that is wholly integrated into the software being automated.

While RPA usually follows how humans act to complete tasks, often using screen scraping and machine vision to manipulate data and software.

BPA has a higher tendency to make automation more seamless as technology becomes more sophisticated. This is because modern business has become extremely (much more) complex.

Businesses often have to manage data with a significant number of clients. And this is in addition to information related to their processes. There has never been a better need to understand the market and clientele today. RPA is incapable of evolving enough to handle such complexities.

BPA, on the other hand, has the potential to save businesses a lot of money in the long run.

Although the initial cost of the investment may seem extreme at first, the process pays itself through increased work efficiency.

Business functions that will benefit directly from hyperautomation

Accounts payable

Order management processes

Customer service operations

Abandoned cart automation

Employee onboarding

Document processing such as document approvals etc.

Marketing

Payroll

Highly routine tasks like creating invoices

Purchase order processing

Industries that can use hyperautomation

Healthcare

Supply chain

Banking and finance

Retail

Challenges of hyperautomation.

The challenges often sighted by IT leaders in their hyperautomation journey are as follows.

Finding ways to measure success.

Calculating the return on your investment.

Selecting the right hyperautomation technologies and infrastructure.

Getting buy-in from your company’s stakeholders and employees.

Lack of previous business process information leads to complex and slow implementation.

It may sacrifice customer experience and satisfaction during implementation.

Recognize that any new approach to business processes is bound to present challenges, and hyperautomation is no exception. But unfortunately, many companies do not feel ready to tackle automation efforts.

Image Credit: by RODNAE Productions; Pexels; Thank you!

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Can Users Become Full-Fledged Links in Attention Economy and Receive Benefits?

We have witnessed a boom in digital media and content in the last decade, and we are still adapting to its consequences. The media landscape has become fragmented and complex, with a constantly growing number of online platforms. A whole new advertising market has appeared that bombards consumers with thousands of ads on the internet. As a result, consumers’ attention is now hard to catch, and tech companies are fighting for it because it’s monetizable. The attention economy is big, but its current mechanisms raise ethical questions.

The Current Attention Economy

For now, the way tech corporations collect and utilize consumers’ data is the primary concern. We use social media, search engines, and other free digital services. The companies behind them track and use our data to make a profit by selling targeted ads.

And in some cases, our data may act as a fuel not only for traditional advertising. For example, a few years ago, the scandal caused by Facebook leaking its users’ data to the political firm Cambridge Analytica was quite huge. Allegedly, the leak has impacted the U.S. presidential elections because it has given Donald Trump the chance to create a more effective campaign.

Tech corporations generally seek to know our location, age, history of purchases, hobbies, relationship status, and other personal information. The problem is that we don’t even have a complete picture of the volume and type of data extracted from our online activities every day.

Companies follow people on the internet. Then they use the gathered data to get revenue, so no wonder the Harvard professor and social psychologist Shoshana Zuboff calls it surveillance capitalism.

Some see it as a rip-off. Tech companies may create products, but these products can’t generate any profit themselves without users. Users do their share of the work each time they post something. So, the effort comes from both parties, but only one financially benefits from it.

In addition, people lose time in the current attention economy. They have to watch online advertising, which is hard to avoid these days. Our attention equals time, and we can’t repurchase it.

And Its Unfairness

Of course, some bloggers can make millions of bucks with their content. Still, social media users typically don’t get any money from corporations like Facebook and Twitter for the data they are creating. But for most users, the reality is gruesome. In 2020, Internet guru and technologist Tim O’Reilly calculated how much money a user would make per month if Facebook returned its profit for data-generated income: the amount would be less than $1 per month for a US user. Likewise, O’Reilly assessed that an Indian user’s ‘data price tag’ would fall to a shocking less than $1 a year.

There is even more: sure, we are the ones who produce the content. However, that content does not belong to us if we press the button to post it online. All of our data somehow becomes the property of these companies. Not only do they sell the data, but they can delete anything you put out on their apps and sites if they don’t like it while keeping all the posts that you delete yourself.

This system makes users into objects rather than actors of the value chain. So first, the world saw the attention economy as a battleground for corporations. Then this issue became a hot topic for debate. And in recent years, it’s becoming more and more evident that the battle should be between the corporations and users.

Why We Still Need That Data

What may seem the easiest and fastest way to change the system? Probably, to ban tech corporations from collecting users’ personal information completely. But it’s not the best solution. Because, in fact, that data can be useful for us. For example, for any research that is about humans, which may mean their behavior or even health.

“What is needed in the face of global problems such as climate change, migration, a precarious and uncontrolled international finance system, the ever-present danger of pandemics, not to speak of geopolitical ‘war of all against all’ on the international level, is a viable and inspiring vision of a global future. Moreover, the global network society is data-driven. Therefore, the most important reforms or initiatives we should expect are those making available more data of a better quality to more people and institutions,” David J. Krieger, director of Switzerland’s Institute for Communication and Leadership, once said; while being against clickbait, filter bubbles, fake news, and other negative social media aspects.

Besides, the data generated helps developers improve the customer experience. What’s more, it helps offer consumers more relevant products, making our lives easier. Targeted ads are essential for small local businesses. They often have no other tool for effective promotion other than Instagram. So these small ventures make the economy healthier and provide us with services and goods that we like and need.

Anyway, we must clarify the process of gathering and storing users’ data. With this, people who are not involved in tech can see and understand where their personal information is going and how it’s being used. Unfortunately, basic digital literacy doesn’t currently come close to being common knowledge. Only after spreading some basics can we wake people up and motivate them to start making decisions about their data usage.

Pathways to Change

There is an extensive conversation about the wrongfulness of the current system that monetizes consumers’ data. The most popular idea is to make people the owners of their own data and earn money using it. The concept sounds simple, but it requires drastic changes in data collection and sale. Computer scientist and futurist from Silicon Valley, Jaron Lanier, suggests that we need to create new institutions for this to happen.

These institutions will gather data from users in return for some monetary compensation. Lanier sees it as something resembling an insurance company. People will choose to whom they will bring their data based on these companies’ offers. Lanier’s vision statement seems to be a promising option. At the same time, he notes that many people don’t believe such an idea can work out, and they might give up on it before trying.

Lanier is pessimistic about users’ eagerness to fight for ownership of their data. However, there are already legislative changes that may improve the situation. For instance, California’s Consumer Privacy Act grants internet users the right to delete their data and opt-out of their personal data sale.

The Act does not mention paying people for their data, but businessman and attorney Andrew Yang sees it as a first step to turning things around. He wants the law to recognize personal data as property and make corporations pay users for it.

Moreover, with celebrities like rapper and entrepreneur Will.I.Am starting to talk about personal data protection, and people are becoming more aware of the problem. A study by Insights Network shows that 90% of U.S. consumers find it unethical that their personal data is being shared without consent, and 65% of respondents feel uncomfortable about it being shared with businesses for profit.

Web 3.0’s Promises to Fix the Situation

Lately, the promise to put users in control of their own data comes from Web 3.0 (also known as Web3) enthusiasts. According to its idea, giant tech corporations will not dominate Web3, and it will thus stay fairer. However, Web3 developers also stick to the logic that users should be paid for their data.

For instance, the Brave Browser is from javascript creator Mozilla foundation co-founder Brendan Eich. Regular web browsers get more trackers to accumulate our data with each new update. Websites also have their own trackers, like cookies. The Brave Browser reduces the number of trackers that can track a regular internet surfer, thus enhancing their privacy.

The Brave Browser team has created the Basic Attention Token, the cryptocurrency intended to provide users with payment for their data. It’s open-source and transparent. Users will get Basic Attention Tokens for anonymously viewing ads. Later they can exchange them for any other cryptocurrency or fiat money. This approach helps advertisers, as well, by providing them with higher quality data for targeted ads.

The thing about Web3 is that now it doesn’t seem any better or different from what can be done with Web2. So, blockchain is not a magic wand that can fix the problem in some unique way. It still requires digital literacy, and it’s already getting its own power structures resembling those seen in Web 2.0.

Moreover, there can’t be the complete decentralization promised by the Web3 pioneers. Plus, the quality of code is not perfect, which makes it unstable to hackers’ attacks.

Takeaway

Today there is no doubt that the existing patterns of the attention economy should be reformed. The main reason is to give users more control over their personal data. There is a variety of ideas about how this can be achieved. It looks like we may one day have a satisfying solution. Or even a number of them, be they in Web2 or Web3.

But it won’t happen fast. So, for now, the tech community should pave the way for this revolution by spreading digital literacy among people at large. On this path, we have a lot of food for thought and a lot of work.

Image Credit: William Fortunato; Pexels; Thank you!

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