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The Difference Between Fintech And Blockchain

Blockchain and Fintech are two sides of the same coin, or are they? Not really. Blockchain has an important role to play in fintech innovations, but both technologies are different. However, both have the potential to play a significant role in changing how various industries are operating, particularly the financial sector.

Let’s talk about both Blockchain and Fintech and see how they differ from each other while being closely related.

Blockchain

Blockchain is a distributed, decentralized, and public ledger that records transactions across multiple computers simultaneously so that the record cannot be altered without altering all other blocks in the chain. It is based on an open, distributed ledger, and can record transactions efficiently and quickly.

In terms of cryptocurrency, if two companies perform business together and use crypto as a form of payment, their agreement creates a ‘block’ in the chain. The blockchain links and keeps these blocks secure using cryptography.

Blockchain technology was originally designed with a focus on cryptocurrencies, particularly bitcoin. The purpose behind its creation was to solve the problem of ‘double-spending’ and allowing public transactions without a central authority. Now, blockchain is used in many other applications across various departments in an organization or in different industries, even other than finance ones.

DApps, or Blockchain applications are efficient and secure. They provide a multitude of opportunities beyond finance. It can be used in logistics, patient medical records, supply chain, and many other sectors that require transparency, shareability, and traceability of data.  

Blockchain records data and all transactions for everyone to view. For data to change, it must require alteration of all blocks, which makes it almost impossible to modify data.

For a better understanding, blockchain technology is highlighted by the following features:

Decentralization

Data in a blockchain is not stored in a central location. Rather, it is stored across the entire network. In other words, there is no central authority to control the entire data across a blockchain-powered network.

Distributed Ledger

It is a synchronized database that can be accessed from different locations by a number of participants. Each computer in the distributed ledger system has a copy of the ledger to ensure transparency and avoid a Single Point of Failure (SPOF).

Immutable Record

All the blockchain networks follow a specific protocol to validate new blocks. After they are registered, data in the block cannot be altered without changing the following blocks, which needs consent from the network itself.

Source: insuranceblog.accenture.com

Fintech

Fintech or Financial Technology is a new industry that deploys technology for improving financial activities for the public. This new approach is here to disrupt conventional financial services. Fintech includes both startups and financial institutes. It aims to create new applications, products, business models, and processes to enhance existing financial services.

Traditional financial services by banks and governments generally look down up at fintech because it is hard to regulate it without a complete understanding, which can take a lot of time.

Fintech projects redefine business models and drive them towards efficiency and security. Some fintech applications include peer-to-peer lending,RFID tags, stock trading websites and apps, budgeting tools, and algorithm-based portfolio advisor services.

Some Fintech examples include peer-to-peer lending, stock trading websites and apps, advisor services based on algorithms, budgeting tools, and personal finance management. Fintech has four user categories, i.e., business to business for bank clients, business to business for banks, business to client for consumers, and business to client for small businesses.

Fintech organizations are making payment processes easier, reducing fraud, promoting financial planning, and helping save money. However, it is important to note that the financial sector has conventionally been predominated by large firms – such as big banks – that often show resistance to change. Overcoming this challenge and adopting new financial technologies will require a lot of work.

Source: tutorials.one

Blockchain and Fintech Coming Together

Fintech based on blockchain can prove to be the next revolution in the financial services industry. It will more likely add transparency, remove the middle man, and make transactions more secure. Blockchain in fintech can help make banking services more efficient and seamless. It can minimize bureaucracy in conventional banking system and also help in reducing costs. This will benefit both the customers and the financial institutions.

Blockchain technology provides assistance in data breaking management and stopping other fraudulent activities. This enables fintech businesses to transfer and share unaltered and secure data through a decentralized network. This will help to make financial data more secure and track, understand, and audit decisions of AI in a better manner. This in turn will provide the transparency level that is required for people to trust intelligence driven by machines.

Furthermore, Decentralized Finance or DeFi utilizes the concept of creating decentralized smart contracts using blockchain technology. Many financial giants have started to invest in research and development of DeFi for their businesses. This phenomenon further strengthens the fact that blockchain and finance companies actually greatly complement each other, and can together bring more success to any application where applied.

Blockchain technology can also help to eradicate shady tactics of the stock market including commissions of intermediaries, stock tampering, and processing charges and time.

It is expected that by 2028, the fintech blockchain market will reach a value of $36.04 billion. DeFi will become an evolving technology that will greatly reduce the control of banks on money and financial services. Moreover, digital ledgers will also gradually transform the way we send, receive, manage, and store our money. 

Conclusion

Blockchain technology is a breakthrough for digital transactions, whether financial or data exchange. It enables secure, faster transactions with no chance of data alteration.

Fintech, on the other hand, is a breakthrough for financial services. Its most mentionable application is the disruption of bank services as it reduces that final cost as well as the time taken in money exchange.

Both technologies are advancing very fast, and both provide convenience to the end user, i.e., the customer. 

Understanding the Tech Behind the Remote Business Revolution

The remote revolution is in full effect in the working world. 87% of employees are embracing flexible work, eagerly taking employers up on their offer when given the option to work remotely.

Employees are realizing the benefits of remote and hybrid work on their work performance, holistic health, and quality of life. Likewise, businesses also see how beneficial remote work can be for their workflows, employee wellness, and overall operation.

Having said that, successful remote and hybrid work wouldn’t be possible without technology. 

Let’s look at three prominent industries, how remote work and its technologies are infiltrating and the benefits these industries are reaping while adopting more remote and hybrid work.

Source: sloanreview.mit.edu

Healthcare

Healthcare is one industry right in the middle of the remote revolution. There’s been a significant increase in the demand for remote appointments and healthcare services on the patient side. The pandemic saw an uptick in mental health concerns and a decrease in the ability to commute to a doctor’s office. In turn, patients increasingly rely on remote mental health services and other digital healthcare appointments to receive the support they need.

Healthcare facilities, companies, and medical professionals have had to find a way to navigate this demand. Tech solutions were and continue to be the key to that navigation.

For example, although patients can take remote appointments over the phone, video conferencing tools elevate the experience. Patients not only get to attend their appointments remotely, but they also get the comfortability of seeing their doctor’s face and communicating with them on a more personalized level.

Telehealth wouldn’t be nearly as safe and secure without cybersecurity tools. Remote work and services have spotlighted how vital cybersecurity is to the experience. Cybersecurity tools are essential in healthcare because of the sensitive nature of the work and information shared on both sides.

Unfortunately, not all cybersecurity tools are created equal — nor can healthcare facilities control how secure the devices their patients are using to conduct their remote appointments. So, more must be done to ensure telehealth is as safe and secure as possible on both sides. A deeper understanding of this tech is likely the next step in the healthcare sector of the remote revolution.

Source: futureforall.org

Business

Business owners worldwide are also taking advantage of remote work. For one, top talent is likely looking for a hybrid or remote work arrangement to ensure they have the healthiest work-life balance.

To meet this demand, company leaders are offering hybrid and remote work options to stay competitive and increase their chances of landing top talent. They’re also using their global workforces and growing knowledge of how to use technologies to their advantage to help their businesses thrive in the digital age.

However, business owners find communication and collaboration challenging to maintain in a remote workforce. Those two things are critical to a remote or hybrid team’s success. Fortunately, project management software, instant messaging, and video conferencing help ease both critical components of a remote work team.

Business owners have also seen the rise of coworking spaces and technology as we settle into remote work. Coworking spaces allow owners to broaden their employee base while providing high-quality tech tools to support their work without having to foot the bill for them.

The tricky thing about coworking spaces and their tech tools is that the business owner doesn’t own or run them. So, when things go wrong, leaders must rectify them through a third party. That can halt the work of their remote employees, stopping their overall operation for the time being.

Another tech tool business owners are implementing in their remote workforces is employee monitoring software. Many company leaders are hesitant to adopt hybrid or remote work arrangements because they can’t monitor remote employee activity as they can with employees in-office.

Employee monitoring software makes that possible. Business owners can track when their employees clock in and out for work. They can keep an eye on what their employees are doing on company-provided laptops. They can also monitor their productivity by tracking specific key performance indicators (KPIs).

Source: yonseiuiscribe.com

Industrial Services

The industrial services industry is another key industry in the thick of the remote revolution. Industrial services include:

●       Shipping;

●       Manufacturing;

●       Construction;

●       Building maintenance;

●       Landscaping services;

●       Woodworking;

●       General contract work;

●       Engineering.

It may not seem like jobs in these industries can be conducted remotely. In certain circumstances, they absolutely can with the right technology.

For example, automation and artificial intelligence tools allow employees to work remotely in certain manufacturing positions. An employee can operate a picking robot and other machinery from a remote location, so long as they’re adequately trained.

The tough part is the latter. If employees aren’t adequately trained to operate machinery remotely, they can disrupt the workflow and ruin their operating machine. Or worse, they can threaten an employee’s safety who is working in the warehouse.

Cloud computing and storage are also helpful for employees working remotely in industrial services. They can easily store and access any information digitally, regardless of location. The key is to grant only the level of access employees need for their particular position.

Source: ericsson.com

The Demand for More Access to Remote Work

Simply put, employees across all industries are demanding their companies make remote and hybrid work a permanent part of their operations. Flexible work supports holistically healthy and high-performing employees. And that, in turn, sustains a profitable company.

Employees are spending less and less effort fighting with employers about more access to remote work. Instead, they’re choosing to leave companies that don’t allow it for businesses that do. So, if businesses want to keep their employees happy and their operations functional, they mustn’t ignore their workers’ requests for flexible work options.

Conclusion

As you can see, various technologies support remote work in different industries. If businesses want to remain relevant in an increasingly digital world and attract and support highly talented employees, they must focus on implementing — and fully understanding — the right technologies.

Benefits and Drawbacks of Cloud Learning in Improving Access to Educational Resources

Cloud learning is a relatively new form of education that has been growing in popularity in recent years. Proponents of cloud learning argue that it has several benefits over traditional educational models, including improved access to educational resources and greater flexibility for students. However, there are also several drawbacks to cloud learning, including concerns about data security and the reliability of internet connections.

Despite these drawbacks, the benefits of cloud learning are significant enough that it is likely to continue to grow in popularity in the years to come. Students who are interested in pursuing higher education should consider whether cloud learning is the right fit for them, and if not, traditional educational institutions will continue to be an option.

Source: vecteezy.com

What is Cloud Learning?

Cloud learning is a type of education that uses internet-based resources to provide students with access to course materials and instructional content. Rather than attending classes in person, students in cloud learning courses typically access their coursework online, through a computer or mobile device.

How is Cloud Learning Used in Education?

There are a few different ways that cloud learning can be used in education. One common use is for online courses, which are becoming increasingly popular as more and more students seek out flexible and convenient educational options.

Online courses typically make use of video lectures, readings, and other course materials that are posted online, and students can access these materials at any time that is convenient for them.

Another common use for cloud learning is in flipped classrooms. In a flipped classroom, students watch video lectures or read texts at home, and then come to class to discuss the material with their classmates and teachers. This type of learning is effective in helping students learn complex concepts.

Source: flexlearnstrategies.net

Advantages and Disadvantages of Cloud Learning

Cloud learning has several advantages over traditional educational models. One of the most significant benefits is that it can improve access to educational resources. Students who take advantage of cloud learning can often find and use a wider range of resources than those who are limited to the resources available at their local library or bookstore.

However, it has disadvantages too. The lack of interpersonal communication while delivering practical lessons with onsite applications can be challenging for both students and educators. Below are the most common advantages and disadvantages of cloud learning in delivering quality educational sources.

What are the Benefits of Cloud Learning?

Cloud learning is more affordable than traditional education.

Cloud learning can help you save on costs like tuition and textbooks. Plus, it’s more flexible than traditional education, so you can learn on your schedule. You save time, gas, and other resources as you study in the comfort of your home.

It is more flexible and convenient for students.

Study when you can at a convenient place or time you prefer. You’re not tied to a physical location, so you can study from anywhere with an internet connection.

It offers more diverse resources than traditional education.

Cloud learning gives you access to a wider range of resources than what’s available in your local library or bookstore. You can find online lectures, readings, and other course materials from around the world.

Cloud learning can improve access to educational resources.

One of the most significant benefits of cloud learning is that it can improve access to educational resources. Students who take advantage of cloud learning can often find and use a wider range of resources than those who are limited to the resources available at their local library or bookstore.

Source: istockphoto.com

Promotes collaboration between students and educators.

Another advantage of cloud learning is that it can promote collaboration between students and educators. Because cloud learning courses are typically asynchronous, meaning that students and instructors do not have to be online at the same time, they can easily collaborate on projects and assignments.

Cloud learning sessions are versatile

Cloud learning can be used in a variety of settings, including K-12 classrooms, universities, and corporate training programs.

What are the Disadvantages of Cloud Learning?

It can be challenging to stay motivated when you’re learning on your own.

When you’re not in a traditional classroom setting, it can be easy to get distracted or lose motivation. It’s important to set goals and create a study schedule to help you stay on track.

It can be difficult to find trustworthy sources.

Because anyone can post information online, it’s important to be careful about the sources you use for your studies. Double check if your resources are trustworthy resources for your industry.

Lack of complete access to education resources.

While cloud learning gives you access to a wide range of resources, you might not have access to everything you need for your studies. If you’re taking an online course, for example, you might not have access to a laboratory or other on-campus facilities.

It can be isolating.

One of the disadvantages of cloud learning is that it can be isolating. You might not have the opportunity to interact with other students or instructors in person. Get help from a classmate or a professor for concepts you find hard to understand.

Source: virtualtechgurus.com

How to Make Cloud Learning Work for You

If you’re interested in cloud learning, there are a few things you can do to make sure it’s a positive experience for you.

Find a reputable source

When you’re looking for information online, make sure you’re getting your information from a reputable source. Check the author’s credentials and look for reviews of the material before you use it for your studies.

Create a study schedule.

To stay motivated, it’s important to create a study schedule and set goals for your studies. Decide how much time you’re going to spend studying each day or week, and make sure you stick to your plan.

Take advantage of resources.

One of the benefits of cloud learning is that you have access to a wide range of resources. If you’re taking an online course, for example, take advantage of the lectures, readings, and other materials that are available to you.

Source: ericsson.com

Interact with other students.

If you’re feeling isolated, reach out to other students in your course or your field of study. You can connect with other students online or in person.

Cloud learning is more affordable than traditional education. Although it has its disadvantages, the benefits outweigh what it lacks. Plus, you’ll get access to high-quality education without the high price tag.

What is Visual Search?

As per a statistical report, 62% of millennials and Gen Z would use visual search over all other search methods.

Before we dive into the best practices, let’s see what Visual Search is and the best practices to implement one, if you haven’t already.

Source: fullestop.com

What is Visual Search?

Visual Search exploits Artificial Intelligence (AI) to help people perform their search by means of the real-world imagery rather than text search.

For example, if a person takes a photo of an object by Google Lens for example, teh software can identify the object within the image and provides feedback and details about it to the user.

This technology is especially useful to retail and eCommerce businesses — if you implement well-optimized content, you can stand a chance of being the returned search result for a user.

Such an approach will result in attracting more users and increased profit.

Source: analyticsinsight.net

How does Visual Search differ from Image Search?

Visual Search involves searching for the specific item via text, voice and vision — it belongs to a category known as ‘sensory search’.

Both visual and image search are based on imagery but there is an important difference — for image search, people still use words while for visual search, users can utilize an image to handle the same search.

Image search has been present for a long time, nearly 20 years — Google introduced this search format back in 2001 due to the inability of a search engine to cope with all the searches of Jeniffer Lopez and the green dress she wore on Grammy Awards back in 2000.

Visual Search works with a combination of Computer Vision and Machine Learning.

Computer Vision helps machines to interpret what they ‘see’ before deciding what to do with the information.

Computer vision has been present for a long time but with the progress of Machine Learning it became more advanced.

Machine Learning brings details that Computer Vision needs to understand better what is on the image.

Google lens, with help of this technology, cross-referenced the details with Google Knowledge Graph.

Source: youtube.com/h&m

The Biggest Platforms in Visual Search

Google and Bing visual search are mainly used for information retrieval alongside shopping while each of the major visual search platforms offer slightly different search options.

Pinterest Lens

Pinterest Lens was introduced in 2017 and already in 2019, they announced that the technology is able to recognize over 2.5 billion items.

With Pinterest Lens, users can submit images of almost anything and the platform can save the or shop the object on the photo. Pinterest stated that 90% of users’ purchasing decisions were enabled via the information gathered through this technology.

Clothes retailers can post ‘shop by look’ pins so that users may identify or search for garments within a certain image.

The engine can also find similar items to recommend to users in case a user decides that they do not want the exact product but would like something else similar to the original one.

Google Lens

Google Lens was launched back in 2017 and due to its advanced visual search abilities, it quickly became the most popular visual search platform.

In the following year, Google Lens was integrated with Google Image Search and in 2019, a study was published stating that their image recognition technology was more accurate than other similar platforms.

Google Lens technology is present in many Android applications like Photos, Google Assistant and Google Search.

The capabilities to combine multiple apps gives Google Lens a head start over the other similar engines — for example, if a user takes a photo of a sign in a foreign language via Google Lens, it can instruct Google Translate app to provide a translation in their own language.

Source: selesti.com

Bing Visual Search

Bing Visual Search is a bit different as it provides users with both information and products, similar to Bing search engine. It provides users with related items and pricing details.

Bing works similarly to other visual search engines and it has an extensive developer platform.

For example, if Bing guides a user to a particular item on your website, a developer has the ability to define the actions that will be offered to the user.

Source: mspoweruser.com

Amazon StyleSnap

Amazon’s visual search app was announced in June 2019 — it allows users to take photos of objects or products using this function within Amazon’s mobile app and then users are provided with the relevant details and similar items.

Amazon StyleSnap has already been working with Instagram platform for creating an integrated shopping experience for its users.

This technology is very useful for companies that sell on Amazon as they can get their products in front of consumers in an already competitive market.

Developers are also given the opportunity to read the latest guides for implementing StyleSnap.

Source: newsroom.snap.com

Snapchat Camera Search

Snapchat announced their Camera Search in September 2018 inviting users to search for products on Amazon via their app.

It works in a way that the app recognizes a barcode and then an Amazon card is provided to a user offering a link to a specific product or selection of similar products from their store. If the user has their app, they can click on the app and will be directly led to the wanted page.

Unfortunately, Snapchat did not post any latest updates or additional features, but you can read more about their AR and other features in their help guide.

Visual Search Best Practices

There are numerous benefits if implemented visual search but we will talk about these in one of the future articles.

Let’s check the best practices that websites should stick to so to appear in visual search:

Use Structured Data

One of the most important things is to provide as much information as possible to search engines, when adding any kind of content to your website.

The best is to use structured data for images as it can help your website to appear in Google rich snippets.

There are general structured data guidelines in Google for you to learn more about but also the type of structured markup that you can also add.

Add Alternative Text

Alternative texts are also known as ‘alt tags’ or ‘alt descriptions’ — it appears in place of an image in case it fails to load on the screen.

Alternative text is ‘read’ by search engines to help understand the meaning of the image. Users that use screen readers would also need alt text to understand the context of the photo. Alternative text should be authentic, concise and well written.

For example, if your image shows a man holding a red cup of coffee, your alternative text may sound like this: ‘Young man holds a red cup of coffee at home’ or in more details.

Source: moz.com

Use Descriptive Filenames

A popular phrase today says: Context is everything.

Majority of image files are commonly named like this: ‘IMG 12345.JPG’ but you should try better and provide as many details as you can.

If we follow the above example, instead of using such an impersonal name, rename it to: ‘man-with-red-cup-of-coffee.jpg’.

Although it is difficult, try to provide a unique filename to that image besides being clear and concise.

Have an Image Sitemap

If you provide an image sitemap, you can increase a chance for your images to be discovered by search engines. This is especially useful if you have Javascript loaded images.

If you provide an image sitemap, Google will easily identify, crawl and index your images.

Source: mural.co

Use Suitable Image Size and File Type

Having optimization of your content in mind, it is important to use the appropriate file size of images as it can affect the loading time of your site for your users. A site with slow loading speed can trigger users to leave your site.

There are some sites which are excellent for compressing images like: TinyPNG, CompressNow, Optimizilla and more.

Besides file size, pay attention to the type of files you use on your website. For example, Google Images supports the following file types:

  • Bmp
  • Gif
  • Jpeg
  • Png
  • WebP
  • SVG

Each file type has its pros and cons, where for example GIFs may not be suitable for some commercial websites.

Other Elements

The above listed recommendations relate only to images, but you should consider the other elements like SEO and other associated items to appear in visual search results:

  • Overall site speed
  • Overall site performance
  • Your site’s accessibility
  • Quality of images
  • Originality of the content and the images

FINAL WORD

Today’s technologies like Augmented Reality (AR) and Virtual Reality (VR) can help provide users with sensory search in all its forms.

As major search platforms push the boundaries of search features, it is vital for marketers and website owners to make plans for the future search options.

Keep in mind that younger internet users will expect such features so try to decide which approach can be the best for your business to follow.

Boosting Business Through Internal Communication Tech

While many companies tend to focus on their external communication, internal communication amongst staff and between different departments is just as important, if not more so. How your company runs internally ultimately determines how good of a service you provide to your clients and customers, which in turn impacts the success of your overall business. 

And when it comes to boosting internal communications, the right tools are key. If your company is still relying on outdated methods of communication, you may find yourself falling behind. But by adopting new technologies, you can improve internal operations and the growth and success of your company.

Source: peoplematters.in

What is Internal Communication?

Before jumping into the benefits of internal communication and why it’s important, it’s helpful to understand what internal communication is and how it works.

As the name suggests, internal communication is essentially the sharing of information between internal staff, teams, and departments. And the purpose of internal communication is to ensure there is an effective and efficient flow of information between everyone that needs to be in the know so everyone stays informed and there is no miscommunication.

This can include communication of various types, such as:

●      Management: Communication between managers, supervisors, team leads, and executives to discuss strategies, high-priority information, and other general communications

●      Team: Communications between colleagues that are on the same team and working on the same project. Or communications between different teams that are working together to get something done

●      Face-to-face: Communication between individuals, such as briefing someone on a task or project

●      Peer: Informal communications between colleagues

●      Digital: Communications over the internet, email, messaging, video and telephone calls, and even social media

Overall, the communication types above can occur verbally in person, using paper, or electronically. And as most things are going digital today, the best way to improve these communications and optimize your operations is to use internal communication technologies.

Source: myhubintranet.com

The Importance of Internal Communication Tech

Without an effective internal communication strategy that makes use of the latest tools and technologies, your company may fail to keep up with the demands of today’s fast-paced, digital world. Customers and clients have higher expectations today, as do employees. So to meet those demands, you have to optimize your internal operations to ensure everything is running as efficiently as possible.

There are numerous benefits to implementing the latest tech and improving internal communications, including:

  • Boosting employee engagement and the overall employee experience
  • Increasing productivity
  • Optimizing workflows
  • Creating more information and data transparency
  • Improving trust between colleagues, managers, and teams
  • Mitigating risks
  • Avoiding conflicts and misunderstandings
  • Improving the sharing of goals, tasks, and objectives
  • Helping with the implementation of new policies
  • Improving insight
  • Promoting collaboration
  • Improving reliability

Additionally, improving your internal communications using tech can also help your company avoid serious legal issues. When communication is lacking, there are a number of things that can go wrong. But the worst is when poor communication leads to a critical error that creates a legal problem, such as accidentally sharing sensitive information with the wrong person.

With internal communication tech, however, there is more security, and you can more easily track who is communicating and what information they are sharing. For example, if you are discussing sensitive client data, there are certain communications tools that you can use to protect that information to make sure it doesn’t get leaked or shared with the wrong person.

Source: appkode.com

Best Practices For Updating Your Internal Communication Strategy

Before you start rolling out a new internal communication strategy and investing in new technologies, it’s important to have a plan and make some preparations to ensure your new strategy sticks and will be a success.

This should include:

●      Analyzing your current situation to identify what is working and what needs improving

●      Defining and setting realistic goals, objectives, and timelines

●      Identifying the specific communication needs of teams and departments

●      Researching the various tools available to decide which ones will work best for your needs

With any new digital transformation or adoption of new technologies, is also incredibly important to get your employees on board. As your staff will be the ones using these tools and technologies the most, it’s crucial to prepare them for the changes that are being made and ensure they are comfortable with using the new tech.

The best way to get your employees on board and ensure a successful transition is to meet with them to discuss the vision and your plan, demonstrate strong leadership to guide them through, and offer training and give them time to become acquainted with the new tools and how to use them.

Source: clintechresearch.com

The Latest Tech and Tools That Can Boost Your Company’s Internal Communications

With the latest advancements in technology, there are numerous tools and applications available to companies that can be used to improve internal communications. Artificial intelligence (AI), for example, is making business technologies overall much smarter and more efficient. And so many tools and applications today use some level of AI or machine learning to allow businesses to run as optimally as possible, including communications tools.

Below are some of the best and latest internal communication tools available:

Multi-Channel Intranets

An intranet is an internal communicator’s best friend. It is a centralized channel or software that is specifically designed for internal communications where employees can easily and safely share and access information.

Internal Newsletters

Company-wide newsletters sent out on a regular basis are an excellent way to keep everyone in the know and up-to-date on the latest happenings, such as projects, policies, changes, updates, and any other important information. You can even make specialized newsletters just for certain teams or departments. And with so many tools available, there are numerous ways to share this information, such as using mobile apps, intranet boards, and emails.

Collaboration Tools and Plugins

Communication isn’t just about passing things down from upper management, but it’s also about allowing for better lateral communication between employees for a wide variety of reasons. Messaging apps like Slack, for example, allow employees and colleagues to easily and quickly communicate with one, which is incredibly helpful for bonding and collaboration.

Video Conferencing Tools

With flexible, remote, and hybrid work schedules becoming increasingly popular, it’s essential for employees to have a way to communicate more efficiently and have meetings without everyone needing to be in the same place at the same time. And video conferencing and video chat software make this possible.

Messaging and collaboration tools don’t always cut it because you still need to be able to look at someone to read their body language and facial expressions to communicate more clearly and effectively. But if everyone isn’t in the same location, communicating face-to-face becomes a challenge, but one that is easily remedied with video tools and software.

Source: techstudiojax.com

Wrapping Up

These are just a few of the wide variety of tools and technologies that are available today to help with internal communications. The list could go on and on. 

This is why it’s important to do some research to determine your company’s specific goals and identify your areas of need. A freight company, for example, might not need the same kinds of internal communication tools as a finance company.

It’s all about creating the right strategy and implementing the right tools that work for your individual company and your teams to help you grow and achieve success.

6 Reasons To Implement ABM Into Your B2B Marketing Strategy

Account-based marketing (ABM) has been increasingly popular with B2B marketers recently as it allows brands to personalize their content. As a result, it optimizes the customer experience on a more lasting basis.

The ABM approach combines sales and marketing, providing a shortcut to the sales cycle.

However, what does a successful ABM strategy entail? 

The answer is a systemic activation of predefined personas and giving them a satisfactory customer experience.

Source: https://www.itsma.com/

How Does ABM Work

Many companies find success with an ABM strategy, however you must follow the appropriate steps and optimize your campaigns to get the best results.

Here are three primary ways how ABM can work between two teams:

  • One-to-one: A senior marketer will work with the account team to get the best strategy.
  • One-to-few: A marketer works with 5-15 accounts, usually within the same industry, and gets similar issues.
  • One-to-many: Working with a high number of carefully chosen accounts

Using one of the following methods, your marketing team can focus on the campaign.

Source: marketo.com

Here are the six reasons to implement ABM into your B2B marketing strategy:

1. Efficient Use of Marketing Resources

ABM allows you to structure your marketing efforts and resources within your key accounts, driving the most revenue.

With a narrow focus, account-based marketing initiatives enable you to optimize your most valuable resources, saving you time and money.

By integrating your sales and marketing efforts, your marketing team can work directly with sales. That way, you can easily target and create content for key accounts.

This will help you maximize the efficiency of your B2B marketing resources and helps build communication channels with sales to help you have an aligned sales and marketing organization.

The top three challenges of implementing ABM are creating a scalable strategy for multiple accounts, producing customized content, and coordinating programs across marketing, sales development, and sales teams.

TOPO

2. Defined Return on Investment (ROI)

Your marketing strategy needs to be measurable, which is no different from ABM.

Data from the Information Technology Services Marketing Association shows that 84% of businesses say that ABM provides them with higher ROI than any marketing strategy.

Measuring the ROI of any marketing initiative is vital and is possible because of the automation and software tools available in the market.

With ABM, you can easily see the return on investment for ABM initiatives and other areas for improvement based on how people respond to your content.

Source: abmagency.com

3. Identify Account-Based Marketing Measures

Usually, account plans have specific measures that need to be noted as part of the ABM campaign. It helps you create structure and coordinate all the steps involved.

Moreover, the following aspects also need to be considered:

●   What channels need to be utilized for your ABM campaign?

●   What specific type of content works well with your target group?

●   Who are the key decision makers within your target company?

●   How are ABM and the sales process integrated?

Account-based marketing is solidifying your relationship with target accounts beyond your campaigns. The extent to which a campaign can support your goals could be measured in KPIs such as:

●   The number of deals that are concluded

●   Engagement

●   Interactions on social media

●   The number of content people

Tracking these metrics allows you to save time and resources. Check out this handy guide to account based marketing metrics– what to track and why. 

If any weaknesses are found in your analysis, you’ll know precisely the points you need to channel your efforts. Doing so allows you to optimize your ABM campaigns better.

4. Closer Alignment of Sales and Marketing

Perhaps your sales and marketing teams function independently of each other but it would be good to change, especially if you’re keen on implementing a true ABM strategy.

Your sales and marketing team should work with one another to identify target accounts, creating solid communication and outreach strategies. You also need to monitor the progress of your campaigns.

ABM functions as a way to unite teams and not divide them. It allows teams to work hand in hand rather than working independently.

Moreover, ABM is an excellent way for B2B marketers to align strategically with sales while creating personalized campaigns targeted at specific accounts that drive revenue.

However, ABM isn’t intended to replace mass marketing initiatives that drive awareness and traffic.

However, you can use it to level up your B2B marketing strategy so that you can drive organizations towards a clear ROI with measurable sales results.

Source: jk-squared.com

5. Cultivate Your Information Contacts

Once you’ve acquired contacts, you must deepen your relationship with your target group. It would help if you also strengthen your customers’ trust in your brand.

Offering direct communication, individualized content, and having a professional presence in meetings provides you and your brand a solid foundation in retaining contacts through account-based marketing in the long run.

87% of account-based marketers say that ABM initiatives outperform other marketing investments.

ITSMA

6. Define Your Target Accounts

To pay off your investment in ABM, you need to pick target accounts wisely.

Several factors, such as the company size, number of employees, and location, let you identify target accounts that are attractive to your brand within the framework of your B2B marketing strategy.

Over to You

There’s no better time to jumpstart your ABM strategy than today, especially since many of your competitors haven’t completely maximized usage of this strategy yet.

By implementing these tactics targeting and investing in account-based marketing, you’ll be on your way to success. That’s because the future of B2B marketing lies in account-based marketing.

Good luck!