Facebook latest algorithm changes

Facebook has announced to change the algorithm of how relevancy is counted for ads. Now the system will give us ad relevance diagnostics across these three dimensions:

1) Quality Ranking: Your Ads perceived quality Vs ads competing for the same target audience
2) Engagement Rate Ranking: Your ads expected engagement vs ads competing for the same target audience
3) Conversion rate ranking: Your ads expected conversion rate vs ads competing for the same audience group and same optimization goal.

The continual growth in technologies and the impact on future

“The science of today is the technology of tomorrow”

The process of technological integration links pretty much everything in this globe from infrastructure, manpower, day to day chores, computing accounts to what not. Whether it is about organised manufacturing, better efficiency or streamlining business functions through a combination of innovation and applied science together with research and development one could move mountains.    

The new technologies and approaches that come along help us merge the physical, digital and biological world, assures to transform humankind and the style and standard of living. The changing technological paradigm serves us well and will continue to help us grow. There are many areas and examples where technological transformation and integration has taken place in the recent times. Here is a gist of the same.

Internet of things

Lately we have all come across new technical terminologies one of which is Internet of things. The birth of internet of things took place due to the convergence of multiple technologies, machine learning, other systems and sensors. It refers to all those applications and devices that are accessible via the internet.

AR & VR

The physical real world and the virtual world have intertwined so well that one cannot easily know whether this is computer generated or a real life thing. The sounds, videos, the graphics and now even the smell, the technology has helped us experience it all. All the industries from architecture, entertainment and healthcare have brought in Augmented reality and virtual reality where they create new realities through sense, sound and visionand provide great entertainment.    

Artificial Intelligence

Intelligent machines and computer programs help accomplish various tasks. Through artificial intelligence one develops intelligent softwares and systems based on human brain thinking. It is nothing but implementing human intelligence in machine i.e. machines would understand, behave, think and learn like humans. 

Apart from the above there are also various other areas that transcend technology like Smart cities, Robotics, Advanced imaging science, Machine learning and much more.

From the above what is clear is that we have now entered an era where life and its activities are connected to technology from end to end, be it buying a daily need or connecting to someone miles away, technology has brought a blend to all, bringing in a new renaissance. But we will always have challenges on how to put to work the same. No matter how well worth and promising the technological solutions are there would be some hindrances. Evidently, everything is transforming with science and technology and it would continue to pave our future.

ECommerce rules consumer screens

“E-commerce isn’t the cherry on the cake, it’s the new cake”

With that said e- commerce is definitely growing and has become so routine that consumers seem to be able to purchase anything and everything via the internet. In fact, it is estimated that, by 2020, global ecommerce sales will reach $4.058 trillion. Typically e- commerce is not a store or site with product pages. It has too many things assisted with which together brings the development. There are too many factors to the growth of this change but one of it evident.

Convenience – Growth factor of E-commerce  

The list of reasons on why consumer tends to shop online is always being topped by the game of convenience. Convenience commerce is so high in trend. Every E- commerce player now primarily works to capitalise the grievance of consumers. Sites like Amazon have also brought in Prime and dash button which provides consumers priority over the rest and allows them to reorder specific households on the press of a button. 

E- Commerce websites pop around us all the time. Now that we know convenience is the key to success, here is a look of most popular players in the field:

Amazon: Started as an online book store, now accompanied with Alexa and various other developments Amazon is now one of the largest internet based retailer. It has many fascinating features like third party selling, content search and much more that makes it even more consumer reliable.

Flipkart: With several product categories, Flipkart is another leading e-commerce industry in India. It has categories such as consumer electronics, fashion and end to end lifestyle products.

MakeMyTrip: Known for its strong online presence Make my trip is a Indian travel company. It provides the entire pack of travel services from booking flights, holiday packages, hotel booking, tourist locations etc.      

PayTm

PayTm is growing to be the second largest e- commerce platform. Initially it began as a mobile wallet and now is growing due to the outstanding cashback feature it offers to its users.

SnapDeal

Catering to the buyers need in wider terms Snapdeal is a successful e- commerce platform. The main aim of this site is to help consumers grab discounted deals through coupons for various categories like restaurants, salons, apparels, footwear, baby care, home and décor.

Thus, E- commerce industries are bound to flourish. With growing technology, entrants can have a competitive edge. Making the purchase process easier and being highly capable to acquire the consumers mobile screens E-commerce seems to be very futuristic.  

Customer Experience

Still living in the seller’s market? Well, then you are barely living, because it is a buyer’s market already. Today’s market has increasing competitive arenas which cannot be overlooked. In such a scenario customers and their expectations carry the highest value. A customer whether satisfied or unsatisfied is ought to create a similar influence on the personal networks and peers. Overtaking price and product customer experience is the new differentiation for prospects.  

Human Connection

Connecting with your prospects is turning to be a strategic pivot. This is enforcing businessmen to reorient all their operations for and to the customers. Companies are struggling to build the human connect that matters. Take any industry for that case – Retail, Banking, B2B, IT, Automotives – everywhere the core operational capabilities are mastered by how customers perceive the service line and the overall human oriented experience. 

Strategies to Growth

To be able to differentiate and stand ahead of the competition positioning is crucial. Here is an abundance of excellent guidance and reliable information as to how you can put customer experience strategies to work.

  • Self- Service

By self service, one does not mean to say put your customers to work. But for the fact that, the customers, especially the millennial generation, do not seek to interact with sales rep for fulfilling their needs and wants. Moreover, the comfort zone plays an important role. This is not just for simple non durables but also for B2B and other complicated products.

The purchasing power of consumer is increasing and therefore it is advisable to give them the power of buying so that they make apt buying decision and have a enhanced experience on the whole.

  • The mobile world

Mobiles have overtaken pretty much everything from desktops to personal visits. The little device now is evidently the most effective channel for communication and information. Consumers tend to spend most of their time on mobiles and this makes it clear for companies to optimise their marketing techniques accordingly. All must adopt the mobile first mentality to hang in and around the customers all the time.   

  • Make use of the explosive growth of digital marketing

 With digital age in peak it is imperative to have a social connect. Social engagement is rapidly being the necessity as customers tend to follow the brand on channels for up to date information. Create connections on social media for constant engagement. Advertise well and do regular posting on social media to interest the followers. Digital channels are also effective to ensure brand recall by the viewer.

With so much just at the fingertips of consumers, organisations need to focus on creating an experience that brings back the customer. The highly informative consumer demands for value all the time. They would research on mobiles, contact their peers, and if needed analyse with multiple competitors on social media. Therefore to be on the right path and to clinch your target audience ensure to deliver a story they feel worth sharing.