Brand Marketing

Basic Things For Increasing Your Brand Loyalty

Posted February 26, 2018 by Abhishek Pandey @ 6:55 am

Customer loyalty is one of the most valuable things a business can achieve, yet it’s often the hardest thing to earn. Gaining loyalty and creating a connection with your customers is a process that takes time. One way to get ahead of the curve is to provide exactly what your customers desire the most. Consider the following basics and start to build a plan around these fundamentals.

Testimonials

The goal for many rental businesses is to get customers through the door but, in the increased age of online shopping, you need to get creative. One way is to use video to create a virtual experience. Take customers on a tour of your rental store so they can see all that you offer. Make sure to include audio customer testimonials, sales staff members, owners, etc. to create a soft sales pitch to accompany your video.

Time

A major pain point for many people is lack of time. People no longer have time to browse your store, so look for opportunities to save them time and be a one-stop shop for your customers. Bundling products by specific projects or events can help, but so can consultative selling. People may not even realize some of the things they need, so use your expertise to guide them in the right direction.

Sampling

It’s easy for many consumer-packaged goods to offer samples as a way to get customers to try their products, but for rental businesses, this poses an interesting challenge. However, you could host an event in which people can look at, feel and even demonstrate your products. Creating a sense of comfort and familiarity for your rental customers will establish trust and reinforce their need to do business with you.

Content

Your brand is about more than just your products — it’s encompasses everything that your business represents. When you develop and share helpful, engaging and trustworthy content, you establish credibility for your brand. Customers are becoming savvy to transparent attempts at marketing, so the brands with a strong and entertaining presence are starting to come out ahead.

Service

Your customers should come first and if they aren’t happy — you won’t be either. Rather than spending time and focusing on pushing marketing messages out to them, find ways to excel at customer service. In today’s world, exceptional customer service is revered and as a consumer of goods and services yourself, use your expectations of other companies to set the bar for your business.

Last Words

Once you establish customer loyalty, people will appreciate the value you deliver and will be more willing to pay for it. Inspire your customers through customized and creative solutions that will reap immediate rewards for them and ultimately for your business.

Filed under: Brand Marketing

How Brands Get Benefited With Instagram Stories?

Posted February 21, 2018 by Abhishek Pandey @ 7:06 am

While designing ads, a marketer should always make sure that the ads will catch eyes of their targeted audiences. As we all know that social media plays a vital role in catching eyeballs and ever since Instagram launched Stories in 2016, the feature spread like wildfire. In November 2017, Instagram Stories topped 300 million daily users. Instagram Stories offer social marketers a great opportunity to reach a higher number of people by taking advantage of one of the fastest-growing social networks.

According to the reports, Instagram Stories have encouraged users to stay on the platform for a longer period and visit it more frequently. Users under 25 spend more than 32 minutes per day on Instagram, while those in the older age groups spend more than 24 minutes a day on the Facebook-owned photo- and video-sharing network. As a marketer, you have very less time to show your product or service to the users while making sure that your story covers all that you want to show your targeted audiences. So how would you want them to see in your product? Here is how you can get started:

Take advantage of interactive polls

Last October, Instagram launched a feature that allows users to add interactive polls to their Stories. These polls are a fun, frictionless way to get your audience engaged and hear their thoughts on any and all topics. According to the recent report, influencers and brands alike have seen a boost in Instagram Live and Stories engagement using interactive polls since the feature’s inception. With the help of Instagram Insights, you can track engagement per post or entire feed activity per time period.

Value of Instagram Takeovers

Instagram takeovers are fast, easy and fun ways to grow your following by building a mutually beneficial relationship between you and another influencer for a 24-hour period. It provides a great avenue for expanding your audience. Imagine the possibilities. For your business, you can choose any employee for a “day in the life” story or your partner to swap stories for the day. This will keep your customers to keep coming back to your Stories.

Use Instagram Story Ads

In January 2017, Instagram had launched its Stories ads feature with big brands like Nike, Netflix, and Airbnb. However, it opened the feature for all businesses including small and big by March. When designing your ads, it is important to catch your targeted audiences’ eyes instantly as photo ads last only for 10 seconds, while video ads last for 15 seconds. Therefore, you have to ensure that they get the message in the first few seconds of your ad so that they can decide to take action immediately after. If you are planning to try a photo ad, make sure to use a bright, bold photo with clear branding and simple messaging in order to give a clear message about your brand to the user before the ad runs out.

Instant Take on Insta Stories

Insta Stories are relatively new medium across all social media platforms, so there’s no better time than now to begin capitalizing on all they offer. This year, include some Insta Stories to your social media marketing strategy to get a good boost in the business.

Filed under: Brand Marketing

Effective Ways To Increase Your Online Presence

Posted February 20, 2018 by Abhishek Pandey @ 6:44 am

In this digital and competitive-age we live in, it is quintessentially important to have an online brand presence which would be recognizable, and authentic to set it apart from the competition. It is a fact that high visibility of your brand increases credibility and it forces customers to retain your products/services.

Creating an online brand presence is all about getting the attention of your targeted audience. Today, a consumer wants to connect directly with business owners and hear their stories before they make a decision on whether to buy their products/services. Keeping this in mind, here are some key insights as to how to effectively increase your online brand presence:

Start Blogging: Having a blog can increase brand visibility and improve your chances of success online. In fact, blogging is one of the most effective ways to enhance the visibility of your brand online. If you search online, you would come to know that blogging improves your search engine rank, and increases reach in order to cultivate relationships with customers and other influencers.

Optimize Your Website: Undoubtedly, creating and maintaining a website is one of the most important branding tools for any business; however, not many are aware of the fact companies can do website optimization for optimal performance on search engines to drive traffic to a website which eventually improves the brand’s visibility.

Social Media Marketing: It is one of the cost-effective ways to promote both small businesses and corporations online. The best part of Social Media Marketing is to promote visibility, brand loyalty, recognition, and can also to grow sales of your business. Moreover, social media marketing allows small businesses to establish business and to reach worldwide audiences without spending much money.

Create High-Quality Content: Creating and distributing quality content is the best way to gain visibility online and moreover the most effective marketing strategies to promote your business online while creating brand recognition. These days, websites are full of content; however, if it is not of high-quality content that your brand might face problems regarding ranking and it could ruin your brand image online which is not good for your business.

Video Marketing: Businesses of all sizes can benefit from video marketing. There are many video platforms such as YouTube, Vimeo and much more on which you can upload high-quality videos to get traffic. Create your brand video and upload it to the best video platform to drive traffic to your website, and get your brand noticed in front of a targeted audience. You can simply add your brand name tags to get a better result.

Final Words

Last but certainly not the least, while creating an online brand presence, don’t attempt to create your online brand like any other brand in the market. Be unique and honest with yourself about your brand’s value to adding more value to your brand presence online. Hope this works for you, do share your thoughts with us about it.

Filed under: Brand Marketing,Digital

Pinterest Helps eCommerce Business To Grow

Posted February 19, 2018 by Abhishek Pandey @ 6:50 am

Without having to pay for Google or Facebook Ads, if you can drive more traffic to your website it would enhance your business. These days, social media is one of the best ways to drive more traffic to your website without paying high and is a great influencer to influence users with its popularity. There are a plethora of social media platforms available today; however, there are few platforms that help business to grow and increase their brand image without budgeting much on the paid marketing. Except for Facebook and Twitter, Pinterest is one platform that increases your brand name instantly.

In fact, the industries that align with the most popular Pinterest categories, and in turn could benefit the most from Pinterest traffic, are craft and hobby companies, flowers, food, drinks and gifts, and apparel companies. With half of all Millennials in the U.S. and 68% of U.S. women between the ages of 25 and 54 using Pinterest, it’s definitely a social media platform worth investing time in. So read on to explore more of the ways for being Pinterest’s user base.

Keywords Is the KEY In The Visual Search Engine

It’s essential to remember that Pinterest is essentially a visual search engine, and in order to rank higher and appear in people’s searches, you need to use relevant keywords in the image description. Similar to the strategy you use to increase your website ranking, you require keywords to rank on Google, likewise, your images require descriptive keywords within Pinterest as well. “Be smart and strategic while creating pins and using keywords.

 

Make Boards Based On Your Product Categories

Pinterest users love the organization, they are creating virtual bulletin boards after all. You can appeal to users by keeping your own account neatly structured and create a board for each product category you sell or want to promote. For example, if you sell apparel, you may want to create a board for each type of clothing, such as dresses, skirts, tops, etc. Or create a board for the latest fashion trends, such as midi skirts or metallics. This will allow users who are potential customers for each category to easily follow and share the boards they are most interested in.

Increase Reach Through Group Boards

If you aren’t getting a lot of pins or new followers, perhaps you need to go to where other users are and share your content there, at least until they start coming to you. Group boards are a great place to share your content and get a lot of eyes on it. You simply need to search and request access to group boards that align with your brand. Once you are accepted, you can share your content with large pools of people.

Plant-based wellness blogger Chelsea Williams uses this tactic to increase her reach and has had a lot of success with it. “Although I only have about 500 followers on Pinterest, my account averages over 16,000 monthly views. Pinterest has been a tremendous help; I use group boards to increase visibility,” says Williams.

Schedule Pins At Peak Times

Using third-party platforms to stay on top on your pins and to post at the most beneficial times is another way to increase referral traffic. “Tailwind allows users to schedule pins, similar to Buffer for Twitter, at peak times. This helps users get more eyes on their pinned content. Tailwind provides analytics and access to group boards, also known as Tailwind Tribes,” says Williams.

Allow Users To Buy Your Products Without Leaving The App

In today’s digital business landscape, everyone wants everything accessible and fast. Instant gratification has never been more in demand. That’s why buyable pins are a great option for e-commerce businesses; they allow users to go through the payment process within the platform, making the purchase process seamless and efficient.

Food For Thought

What’s wrong in enhancing your business without paying to Google or any other platform? So, follow the ways that have mentioned in this article to enhance your eCommerce business with the help of Pinterest. Hope this post helps you!

Alphabet reports soaring Ad revenue while YouTube faces backlash

Posted February 2, 2018 by Abhishek Pandey @ 3:54 am

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Google’s saw its profits soar in the fourth quarter revenue disclosure as reported by Google’ Parent company, Alphabet, despite it seeing a crisis of trust in its growing YouTube video platform. The operating profits for Google Parent company Alphabet grew by 15 percent or about $7.7 billion in the fourth quarter. Its revenue climbed to an all-time high of $32 billion from $26billion reported last year. This came over the illusions created by the analyst who claimed the company going through bad times and might report a lowered revenue this quarter. Alphabet’s earnings per share came in under expectations at $9.70 and the tech giant took an $11 billion tax provisions sending its stock down in aftermarket trading.

As per Ruth Porat, Chief Financial Officer of Alphabet Inc. believes that such strong growth for the company was led by the mobile search in the recent times as the availability of such system has grown strongly in the recent years. The company has also felt a strong presence from desktop search and YouTube from the mobile users. The revenue from Google’s ad business also grew by 21 percent from last year and accounts for 84 percent of Alphabet’s total revenue. The company’s expansion beyond the Internet search and video platforms has started to pay off as it has ventured into cloud platform which competes with Amazon and Microsoft. It generated $1 billion in revenue per quarter which is really wonderful considering that it sidelined itself completely from Google.

But the technology-based companies like Google, Facebook and Apple have had to undergo severe scrutiny in the past few months of their power and influence on the society thereby provoking analysts to see a dip in their business and revenue collection as well.

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Google has been seeing and steering itself out of controversies regarding the backlash received by YouTube in the recent months from advertisers, content creators, parents, and users who say that the site fails to effectively enforce its rules banning disturbing and offensive content at times which is consumed regularly by millions without any human review. Google has tried to mend the same by introducing manual disclosures on YouTube. It also removed more than 100,000 developers on Google Play creating more than 700,000 applications which violated norms of the company.

Sundar Pichai, Google’s Chief Executive had signaled that its Video site YouTube will be responding to the outcry. “In addition to the significant work we are doing to protect users and stop abuse on the platform, just a few weeks ago we announced changes to advertising on YouTube.”

These changes would definitely bring stricter criteria for the types of videos receiving ad dollars and more manual reviews of content also. He also defended YouTube’s popularity saying that 1.6 billion people watch videos on it every month.

Not only has Google benefited from the soaring mobile penetration, the affiliate marketing sponsored through digital means have also soared up in the recent times with eMarketer expecting Google to command more than 42 percent of U.S. Market share for the digital advertisement in the coming years while it believes that Facebook will have authority over 23 percent of such advertisements. some Analysts have also viewed the Alphabet as a pioneer not only in advertising but also in various other forms. Eric Sheridan, an analyst with UBS told some investors through a note earlier this month that Google is highly placed for developments in some of the most important areas of technology notably Mobile, Machine Learning and Cloud Computing.

 

 

 

Filed under: Advertising,Brand Marketing

Facebook Bans Ads for All Cryptocurrencies and Bitcoin

Posted February 1, 2018 by Abhishek Pandey @ 3:40 am

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Bitcoin and other similar cryptocurrencies have proven to be the shortcut to small time investment thereby cutting large profits. But yes, you would not be able to reap that benefit anymore on Facebook because it has taken a severe step to ban all the advertisements concerning the cryptocurrencies and Bitcoin in Particular.

Move to ban Bitcoin

The Social Network on Tuesday announced that it will be banning all the Advertisements for Bitcoin and other cryptocurrencies in order to stop the promotions which the company views as ‘Frequently associated with misleading or deceptive promotional practices’. Under the new policy framework released by Facebook for ad posting, no ads from well-known digital currency exchanges or for Initial Coin Offerings (ICOs) will be allowed to be displayed on the site’s timeline thereby cropping out their advertisements. Among those who will be affected is James Altucher, a self-described “crypto genius” whose viral ads have become a talking point in how the cryptocurrency boom has led to scams and wild price fluctuations. Apart from him, the businesses which see huge growth potential due to the enormous traffic of Facebook will surely take a hit, but Facebook ought to do something like this in order to prevent itself from portraying an image marred with controversies regarding its ad-stuffing.

Why was the move to ban Cryptocurrencies important for Facebook?

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Critics and analysts rushed to find the core of the reason for such elusive decision making by Facebook amidst a time which is suitable for such business growths. Its move also followed questions whether it has done enough to protect itself and its members from bad advertisers who constantly try to reap benefits out of everywhere without concerning the audience they cater. Facebook has been trying hard to clamp down on misinformation and false news after admitting last year that Russian agents had used it to spread divisive and polarizing messages during the American General Elections leading to the Presidential elections as well.

The world of cryptocurrencies is often marred with controversies surrounding its involvement in scams as its prices have soared in the recent months but often people fear from venturing into this world due to the fear of getting scammed or cheated into. The Securities and Exchange Commission on Tuesday said that it had halted what may have been a fraudulent initial coin offering which asked people to fund what was supposed to be the World’s first ‘decentralized bank’.

Rob Leathern, a Facebook product management director, while announcing the ban on cryptocurrency ads in a blog post said that the ban was intentionally broad as the Social Media site seeks to ‘better detect deceptive and misleading advertisement practices’.  He meant by the statement that the Company is readily looking forward to saving its members from getting impacts by some of the cryptocurrencies intentional behavior of harming the citizens through Facebook.

What goes overhead with such announcement is that Mark Zuckerberg, Facebook’s Chief Executive had recently shown interest in the digital currency and that any step towards banning them all out seemed uncertain. In a Facebook Post this month, he had written that he was studying how to introduce cryptocurrency to his company, adding that he thought it would ‘take power from centralized banking systems and put it back into people’s hands where it belonged’.

Filed under: Advertising,Brand Marketing

Internet of Things (IoT) into Travel Reaps Customer Satisfaction

Posted January 29, 2018 by Abhishek Pandey @ 7:35 pm

 

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Travel remains one such field to have been impacted by the Internet of Things (IoT) but some late innovations have put this field into consideration for future installations. One such innovation was carried at Marriott International in the Irvine Marriot Hotel located in Orange County, California, where an Internet-connected mirror within a shower to tap the ‘Shower-Thoughts’ of its resident, an idea that people’s best creative ideas and brainstorming take place in the shower. The steam from the shower first fogs up the mirror to create a digital whiteboard on a section of the door allowing the consumers to draw all over the glass while mailing themselves the same. While the idea might seem superfluous, Marriot is actually planning to crunch the same tech in its hotels after testing the date from here.

As per Matt Carroll, VP of Global Brand Management at Marriott believes that the technology is part of a broader move to keep up with the Consumers’ changing travel habits and new competition from the digital upstarts such as Airbnb, HomeAway, and other online travel agents. Apart from the connected mirrors in the shower, Marriot has also invested in Mobile-Powered Room Keys and check-ins while creating a Facebook Messenger Chatbot which lets its guests set up wake-up calls and order room service. “It’s an ongoing process of testing, learning and trying new things,” Carroll said. “As we hone in on those things that resonate, we’re moving as quickly as possible and scale them across the brand.”

How is IoT shaping Travel Brands Innovation?

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From giving consumers better recommendations to using the Artificial Intelligence for the same to trying IoT in order to personalize the experience of consumers, the Travel brands have been pouring in millions of dollars into technology to make the consumers and shape their travel experience for better and larger good. The days have gone by for personal bookings as most of the bookings are made these days using Smartphones and Tablets.

“The travel sector is already disrupting itself and disrupting itself again because it has all the makings of things that are going on in the consumer markets right now, which is in the direct-to-consumer, service-based moment,” said Brent Vartan, managing partner at Bullish. “Most of what is coming now in the marketplace is people trying to disintermediate as much as possible.”

As per the data collected by Accenture and the World Economic Forum, the digital changes in sectors such as Travel, Aviation, and Tourism industries will be worth more than $1 trillion in revenue and efficiency saving by the year 2027. And the in the center of such innovations would be such Internet of Things (IoT) where the date about everything from spending to location to insights about previous trips that marketers are practically important for. The importance of data influx would be greater in the coming times while we serve the type of vacations have the consumers been to lately or if a traveler is more inclined to relax on a beach or are they more adventurous? Marriott’s Carroll said. “We’ll serve them up offers for experiences that align with their buying patterns in the past.”

What do the Consumers Want from IoT?

The reveling innovation in the sector is marked by the jump in the consumer apprehensions where more than 67% of them want the travel companies to send them the personalized recommendations but only 44% of them actually receive such recommendations due to companies back slogging.

Given the competition in the Aviation and Travel sector, the travel companies will have to specific about their recommendations which they give to their consumers based on their travel search and travel history.

Super Bowl Ad LII Tracker 2018

Posted January 23, 2018 by Abhishek Pandey @ 7:22 pm

There is some time left for Super Bowl LII, scheduled for the first week of February 2018, but the heat for the Advertisement placement has already become too high to handle for most of the advertisers. Even the handling fee has been slightly raised by NFL this year to a maximum of $5 million this year for a 30-second spot, the spots have nearly been sold out. This year’s NFL will also see a bundling deal with the Winter Olympics and hence becomes an interesting event to look out for as major brands make a return this time. NBC, which hosts the majority ads for the NFL expects to generate over $1 billion in ad sales between the events this year.

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Dan Lovinger, the Executive VP of Ad Sales for NBC Sports Group said that there are less than 10 in-game slots remaining and that the ads have sold well for the pre-game as well as the postgame. The ads are performing more than expected during an episode of ‘This Is Us’ following the event.

“We expect Feb. 4 will set a record for single-day revenue generated by a single company,” Lovinger added, with revenue anticipated to be $500 million.’

Check out some of the Brand Stories who have confirmed their presence in the Super Bowl LII and are the majority stakeholders here-

YouTube Will Not Feature in the Super Bowl LII

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While there has been rising talk about Google Preferred and its return to Sundance, neither YouTube nor Google will make its presence felt at the Super Bowl Super game this season. This means that this brand has backed out of the contest this year.

Hulu Makes Comeback with this original series Ad this time

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Hulu ran its first super bowl ad campaign in the year 2016 and left out unprecedentedly following which it will make a comeback this year with the ad for an original series.

Clorox Absents out at Super Bowl

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As per Eric Reynolds, CMO for Clorox and Senior VP confirmed the absentee of Clorox from this years’ Super Bowl games. It has no plans to run a Big Game Spot for any of its brands as per Reynolds as they do not plan anything for the Paid Media this year.

Danny DeVito to Star in the M&M Ad for Super Bowl

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Danny DeVito has been confirmed as the guest star for M&M ad this super bowl as the star swims in a pool of chocolate as shown through a teaser released by M&M. BBDO New York created a 15-second and a six-second teaser to introduce DeVito as the star of its 30-second Super Bowl LII spot for the brand. M&M’s is returning to the Big Game for the first time since 2014, while fellow Mars brand Snickers will sit this year out.

Hyundai Promises to Surprise Millions through its Super Bowl Ad

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Hyundai has been running a teaser for its Super Bowl LII Ad during both the AFC and NFC championships and it has promised to Surprise Millions through its Ad in the Super Bowl on February 04.

Filed under: Advertising,Brand Marketing

IoT gadgets on a roll with Amazon’s Alexa and Google Home at CES

Posted January 8, 2018 by Abhishek Pandey @ 8:35 pm

Internet of Things (IoT) might be the newest player in the markets and brands have been putting in a lot of efforts to understand it. The marketers have already started looking at Amazon and Google to dominate the market comprising of connected devices in the year 2018. The upcoming Annual Consumer Electronics Show in Las Vegas will become home to showcase comprising of the gadgets from Amazon’s Alexa and Google Home with their expanding sets of AI skill and services.

As per Steven Moy, EVP and Chief Technology Officer for the U.S. at R/GA, ‘It’s only been a year since Alexa got introduced to the market and I have not seen the pace of acceleration so fast in terms of adoption and people getting accustomed to it.’ Alexa and Google Home have together sold more than 27 million devices in the U.S as per the date from Consumer Intelligence Research Partners and which is, in reality, a great number for companies recently released with their products.

Jeff Malmad, who is the Managing Director of Mindshare North America’s Life+, has been keeping a busy eye on the growth of IoT in the states adds ‘The result of voice assistants’ exploding popularity is a new gold rush to build branded skills similar to the rush to build apps when the iPhone first came put and App Store was launched. The ultimate device and gateway to the Internet of Things happen to still be your mobile phone today’. this is inadvertently correct as smartphones control how consumers access their voice skills these days.

Because Alexa has gotten such traction, [brands] are saying, ‘How do I bring voice to my experiences? How do I bring conversational interfaces to existing products?’” said David Hewitt, VP and global mobility lead at SapientRazorfish. “We’re seeing the enterprise-class investments starting to be made that allows brands and companies to think about configuring and scaling a lot more [IOT] services.

What to expect at the Consumer Electronics Show in Las Vegas?

Amazon is scheduled to host nine presentations and workshops over the two days span where we can see some exceptional technology launch and might dive into the unimaginable AI skill of Alexa. There will also be specific sessions about connected automobiles and another session dubbed ‘Amazon’s Quest for Alexa to Be Everywhere’.

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On the other hand, Google will its biggest appearance in the trade show since 2015 a booth specially designed for it where its products including its virtual assistant Google Home will be showcased. LG will also a new, spiced up smart speaker named ‘ThinQ’ which plugs into both Alexa and Google Home and makes it one of the handiest products manufactured by LG in the recent times.

Are the IoT things Way Too Pricey?

Often newer and exclusive technologies come at prices way too much for an average size pocket. While the consumers have been taking the IoT very seriously, they might not go for overpriced items such as the $2600 connected refrigerator or $120 alarm clock which emits the smell of coffee and music to wake you up.

Every year at CES, you’ve been seeing the connected refrigerator going back years, but nobody has them in their house,” Malmad said. “Soon, you’re going to start to see that shift to a connected fridge being more common than not as the price comes down, screens become less expensive and consumers are used to these voice-connected speakers—it’s just going to be as common as having a rear-view camera in your car when you’re reversing.”

Similarly, consumers are not that interested in IoT such as watches and health tracking wearables from startups and smaller companies which they consider new to the field and immature.

 

 

Filed under: Advertising,Brand Marketing

How Blockchain Can Prove Godly for Media and Entertainment in 2018

Posted January 7, 2018 by Abhishek Pandey @ 8:04 pm

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Blockchain has been a phenomenon ever since its release in other sectors but Media and Entertainment can be one sector where it can transform itself into a cosmic phenomenon. It can prove godly for the sector in various ways. Bitcoin made news in the last month of the year 2017 when the cryptocurrency surged past $10,000 mark to a peak of $20,000. There was the launch of Bitcoin Futures and its acceptance by Australian Stock Exchange for stock settlement made it one of the most sought-after cryptocurrencies in the world. So, it won’t be late or wrong that we see the impact of Bitcoin in the field of Media and Entertainment in the year 2018.

Why Blockchain in Media and Entertainment Sector?

 

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Blockchain has been one of those entities which enable a digital marketplace – both decentralized and tamper-resistant altogether. The transactions are recorded chronologically in a distributed ledger which makes it transparent to the users but encrypted so that nobody can change or fake any transaction made on it. ‘Smart Contracts’, which can also be understood as automated transactions through agreed business rules, logic and contract, can also be programmed to make it more connecting. In the Media and Entertainment sector, there is a potential market for Blockchain technologies where participants would benefit from both security and transparency in the field of Payment, funding, monetization and contract enforcement. Let us check out the benefits of the cryptocurrency in the field of Media and Entertainment –

Royalties

It is always a possibility in the Media and Entertainment sector that the producer, distributor, and others do not come to terms as far as the monetary distribution is concerned. Because of sharing and distributions of copies, the music streaming sites and rights holders often struggle to agree on compensation for trillions of song streams leading to legal fights and loss of money. Royalty payment methods can be one of the ways to rectify such mistakes as the Open Music Initiative (OMI) composed of 200 members including Sony Music, Warner, YouTube, Netflix, and Spotify. OMI revealed to CNBC that it is considering Blockchain as a foundational technology. The vision includes a Blockchain-based ledger which contains music assets and their rights holders. Smart contracts can then automate royalty payments based on a song’s consumption including streaming.

Crowdfunding for Creative Productions

Blockchain start-ups across industries marked the uprising in the year 2017 where funding was made through Initial Coin Offerings (ICOs) which cryptocurrency like bitcoin to crowdfund new ventures. This can be used by creative productions to leverage ICOs for crowdfunding. Many of the funding sites such as Indiegogo launched its own ICO platform. So, these ICOs for films and other creative ventures could ramp up in 2018, contingent on how the Securities and Exchange Commission (SEC) applies and imposes securities laws to ICOs.

Digital Advertisement

In the partnership with Nasdaq, NYIAX has recently launched a Blockchain-based ad exchange platform which allows the publishers and advertisers to efficiently trade advertising contracts. Richard Bush, Chief Product and Technology Officer states ‘With Valuable experience in capital markets, NYIAX has a long-term vision to create a more financially rigorous model leveraging fin-tech best practices with advertisement and media.’

 

 

 

 

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