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Topics - Mrittika Shil

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Entrepreneurship education has been defined as “a collection of formalized teachings that informs, trains, and educates anyone interested in participating in socioeconomic development through a project to promote entrepreneurship awareness, business creation, or small business development”.

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1. Nurx

Nurx is improving women's access to birth control through an easy-to-use digital application. This tool gives users the ability to simply request a prescription online. The prescription is then delivered right to their door.

"We realized there were certain things people wanted done in healthcare rather than research them and birth control is certainly one of those," cofounder Han Gangeskar told TechCrunch. "Everyone we spoke with, friends of friends said friends called them with a birth control prescription emergency."

For users with health insurance, birth control is free. Additionally, for those without health insurance, contraceptives start at $15 per month. The application is currently available in more than 15 states. In 2019, Nurx will continue to cause major disruptions in women's health through their first-of-its-kind birth control subscription service.

Founders: Hans Gangeskar and Dr. Edvard Engesaeth

Total Equity Funding: $41.4M

2. Shippo
Shippo allows users to save time and money with a cloud-based shipping software. This easy-to-use tool helps customers get rates, print labels, track packages, and more. Shippo supports more than 35,000 customers including retailers, e-commerce platforms, marketplaces, and logistics providers.

"Shippo’s product is an automated system that companies can implement in order to provide users with a wide variety of shipping options from ecommerce sites," says Blair Hanley Frank, contributor at VentureBeat. "The company is able to set its customers up with easy access to several different shipping providers, rather than requiring firms to implement various systems."

Shippo joins Square, Stripe, Shopify, and others working to revolutionize the shipping industry.

Founders: Laura Behrens and Simon Kreuz

Total Equity Funding: $29.3M

3. Gladly
Gladly enables businesses to create highly-personalized experiences for customers. From retail and hospitality, to travel and finance, Gladly provides a targeted solution to build better connections with customers. With Gladly, connecting customers to the right customer support agent is easy. Moreover, agents have all the tools and information they need to support customers quickly and efficiently.

The San Francisco-based tech startup was incubated by Greylock Partners in 2015. To date, Gladly has raised a total of $63 million and employs more than 50 people.

Founders: Dirk Kessler, Joseph Ansanelli, Michael Wolfe

Total Equity Funding: $63M

4. Biome Makers
Born in Silicon Valley, Biome Makers is a biotech company that specializes in the identification and understanding of the microbiome. The company uses DNA sequencing technologies and proprietary Intelligent Computing systems that allow users to improve agricultural production and quality of their products. Biome Makers impacts the following areas:

Reducing reliance on chemicals
Decreasing the impact of diseases
Making solutions based on microorganisms
Recently, the company was named as one of the Top 10 U.S. Terroirs.

"The company believes that vineyard microorganisms should be put to use to the winemaker’s advantage. The biotechnology startup derives its name from the word, biome: a complex biotic community characterized by distinctive plant and animal species unique to the climate and soil of a region," reports Thomas Pellechia, contributor at Forbes.

Founders: Adrian Ferrero, Alberto Acedo

Total Equity Funding: $2.3M

5. ImpactVision
ImpactVision is on a mission to build a more transparent and secure global food system through "hyperspectral technology." This technology combines the power of digital imaging with a chemical technique called "spectroscopy." Users can simply take a picture of the food and understand its unique composition including nutritional content, freshness levels, proteins, fats, sugar, and moisture levels.

Benefits of the tool include:

Replaces destructive sampling techniques
Reduces waste and increases quality
Integrates in-line production facilities and distribution
Increases transparency
Enhances brand value
"What we are doing is providing rapid and non-invasive mechanism to assess food quality during the production process, and in real time," says Abi Ramanan, CEO at ImpactVision.

Founders: Abi Ramanan, Gustav Nipe

Total Equity Funding: $1.4M

6. Ripe.io
Ripe.io uses blockchain technology and the Internet of Things to transform the digital food supply chain. This technology gives users the ability to learn more about the quality of their food, where it was produced, and more. Additionally, farmers can use this technology to automate internal processes and meet market demands around growing high quality and sustainable products. Ripe.io impacts the following areas:

Supply chain tracking and visibility
Secure data aggregation and sharing
Brand quality and trust verification
Scaleable blockchain, sensor, and Internet of Things integration
Founders: Raja Ramachandran

Total Equity Funding: No Information Available

7. Biomarker Labs
Biomarker provides customers with real-time and data-driven access to health supplements. The company measures users' symptoms, health metrics, and other contextual information to match them with high-quality and beneficial nutritional supplements.

"The sheer number of supplement users with smart phones and wearables around the globe means that we can gather data in bigger numbers than ever. Information can also be collected with far more regularity — hourly or even minute by minute," says Biomarker. "With every new user, Biomarker gets new insights about how people respond to supplements. More users mean more data and more meaningful results. Biomarker is already producing insights and discoveries from millions of data points gathered from thousands of supplement users."

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According to a research report from Unternehmensgrün (the German Federal association of green economy) into green startups in Europe, the biggest challenges facing founders are financial and bureacratic.The Borderstep study came to a similar conclsion. While initial financing is a hurdle for all new startups, the financing requirements for green startups was estimated to be considerably higher (on average 200,000 EUR) than for non-green ones (on average 35,000 EUR), making it significantly more challenging for green startups to turn their idea into a successful company.

But while the environmental challenges constantly grow, and more and more environmental policy goals are set to tackle them, we need business models that address these challenges more than ever. In order to support ecopreneurs and what they do, we need:

    more committed and targeted startup funding for ecopreneurs and green startups
    more political support, both in terms of reducing regulatory and bureaucratic hurdles and raising capital.

In the EU, Climate KIC runs several different programmes from entrepreneurs with ideas for climate impact business ideas - offering funding, coaching and networking opportunities.

And RESET actively supports green founders too: We accompany ecopreneurs on their way to successful financing (seed, early stage, growth capital), providing practical assistance along the way and answering questions about sustainable business models and financing opportunities. Find out more in our Green Impact Finance section.

Author: Sarah-Indra Jungblut (RESET Editorial), with the collaboration of: Dr Paul Stadelhofer / February 2019
collected from https://en.reset.org/knowledge/ecopreneurship-innovative-business-climate-impact-11202019

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Not everyone is convinced that entrepreneurship can come up with genuine solutions that protect the environment and the climate. How can the preservation of our planet be achieved using the same means that have triggered so many of the problems in the first place, i.e. our growth-oriented, capitalist economic model? And won't ecopreneurship just further strengthen dominant economic patterns instead of breaking new ground in alternative ways?

Ecopreneurs take a different view: if they stay stuck in a niche or they don't manage to establish themselves on the mainstream market, solutions to environmental and climate issues will only ever be able to have a limited influence. By contrast, working to shake up the market economy "from within" can have a significant positive impact - like if a company succeeds in making an environmentally-friendly service or product so successful that it asserts itself on the mass market.

However, not everyone who claims to be an ecopreneur really does follow truly sustainable goals. Many companies have adopted ideas of ecopreneurship and integrated them effectively into their market strategies and CSR concepts. However, they often don't communicate their exact working methods and impact in a completely transparent manner.

Radical transparency in business is another key characteristic of the way that true ecopreneurs work. By communicating clearly about how their business works and constantly questioning its own structures and methods, it's clear for everyone to see what exactly is that the company stands for. And at the same time, it ensures that the company itself doesn't lose sight of its ethical goals or allow itself to be swallowed up by an economic system that is geared exclusively to maximum profits and growth at any price.
https://en.reset.org/knowledge/ecopreneurship-innovative-business-climate-impact-11202019

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What do all those examples have in common? First and foremost: Ecopreneurs aim to solve a specific environmental problem through sustainable business. Armed with innovative ideas, they search for gaps in the market and use creative solutions to realise their vision. At the centre of all of their entrpreneurial activities is the development and promotion of ecologically-oriented innovations.

Large companies often have a sustainability department or CSR strategy, but in those contexts environmental innovation is often limited to just reducing environmental costs. While those environmental measures (reducing resource use, switching to renewable energy, improving waste management, etc) often reduce the negative impact of their operations, environmental and climate impact is still far from being a core part of those companies' missions.

The work of ecopreneurs is often grouped together with other "conscious" entrepreneurs, under the umbrella term of social entrepreneurship, but the term is slowly establishing itself in its own right. And a quick look at the statistics suggests that green enterprises are certainly deserving of their own name: According to a study by the Borderstep Institute into green startups in Germany (pdf), between 2006 and 2014 each year around 21,100 companies were founded that could be described as being part of the growing "green economy", meaning an average of 14.7 per cent of startups had an ecological mission.


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Department of Innovation & Entrepreneurship / What About Eco-preneurship
« on: February 25, 2020, 11:09:04 AM »
what about "ecopreneurship"? A combination of the words ‘eco’ and ‘entrepreneurship’, here the focus is on enterprises that combine business with environmental or climate impact.

The rise of digital technologies often plays a key role here, with ecopreneurs making use of the new tools available to implement their visions of a sustainable future. From cutting down on food waste, to protecting marine life and making smart use of renewable energies - as the following examples of ecopreneurship show, the solutions are just as diverse as the challenges they're developed to tackle:

The Finnish startup RePack has developed a deposit scheme for online retailers to help cut back on the packaging waste caused by the increasing boom of online shopping.
The Banana Pinger is a small, simple-looking and affordable device that can be clipped onto fishing nets to warn dolphins and whales of the presence of large fishing nets and protect them from ending up as by-catch.

A road surface that generates electricity from sunlight, absorbs noise, breaks down nitrogen oxides, defrosts ice in winter, provides valuable data and supplies electric vehicles with electricity - the German startup Solmove has installed its first ever "Voltstreet" just outside Cologne.
Online energy market place Enyway wants to make the major energy companies a thing of the past. How? The Enyway platform decentralises the energy market by connecting green energy producers - both large and small - directly with consumers.

The CityTree from Green City Solutions kills several birds with one stone: it filters CO2 from the air, provides environmental data via the IoT and lowers the temperature in the surrounding area. This rectangular-shaped piece of city furniture can be installed almost anywhere in the city and is covered with a certain type of moss that has the same pollution-fighting power as 275 trees.
WEtell is Germany's first all-round sustainable mobile network provider: climate-positive, secure, transparent and fair.

Collected from https://en.reset.org/knowledge/ecopreneurship-innovative-business-climate-impact-11202019

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The new demands upon the universities are not entirely novel, if all fields and higher educational institutions (HEI) are considered. What is new is the global nature of the phenomenon, national systems of knowledge production and innovation, believed to underlie national competitive positions, are undergoing deep changes nearly everywhere.
[
b] The emerging system has been captured in the triple helix model (Etzkowitz and Leydesdorff, 2000), consisting of three poles: university, industry, and government, previously assumed to constitute separate systems, each with distinct, stable roles. Increasingly, they are becoming intertwined and with partially overlapping functions.[/b]

Universities are shifting their paradigms towards entrepreneurship development in the recent years because of implications and development of the business which will enhance the macroeconomic development of the country. The role of knowledge commercialization and active contribution of developing private enterprises in the local economy. As such university has become the national innovation system.

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Here are 3 examples from India which are not only doing things differently but at the same time contributing to environment also. Sustainability is the need of future business world & these startups know it very well.

1) Log 9 materials: - This one is delight for smokers! This Uttar Pradesh based company was founded by 23 year old IITian Mr.Akshay Singhal to promote graphene nanotechnology. Their product PPUF 'Smoke safe' is plug on filter for cigarettes ensuring that Cancer causing toxins are filtered without disturbing the taste or the flavour of the smoke .Company claims that it reduces 90% chance of Cancer caused due to cigarettes if an individual uses this product.


For further betterment they have collaborated with IISc institute from Bangalore for R&D. As country is getting more & more fitness conscious day by day, in near future this innovation is going to have spectacular demand as according to WHO India has roughly 120 million smokers, which are 12% of world’s smokers.

2) Bakeys:- This one has a unique concept of edible cutlery .Yes,one can eat your spoon once your eating is done. Founded in 2010, this Hyderabad based company works under the leadership of Mr. Narayana Peesapathy. Idea behind doing this is not completely new, which is to replace plastic from eating outlets (In school/college canteens, Food courts in malls etc.).However the solution is cool.


Company introduced edible spoons made up of ‘Jowar’ majorly, in combination with other flour giving it a healthy & nutritious value , also at the same time reducing the environmental hazard which plastic causes (to some extent). Organization is well supported via Crowd funding (No wonder when your initiative is efficient & unique, money will roll in ).

3) I got Garbage :-We are doing MBA to attach Managers tag to our profile. However this project has given an opportunity to Rag pickers to become a Recycling Managers & that also without any MBA degree. Thanks to Mr. Prashant Mehra, Project Manager from Mindtree an IT Giant,who was keen on initiating this 'Waste management' idea & chose Bangalore city, our very own Indian silicon valley for starting this project, considering the fact this city generates nearly 3000 tonnes of waste solid waste per day.


This company has given an opportunity to Rag pickers to earn more than what they earn on regular basis by contributing in waste management work .(On an average, Rag Picker associated with ‘I Got Garbage’ earns Rs.4828 per month).So along with Waste management this company is also impacting the livelihood of rag pickers by generating monthly salary for around 8000 of them.

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"Ecopreneurs are entrepreneurs whose business efforts are not only driven by profit, but also by a concern for the environment. Ecopreneurship, also known as environmental entrepreneurship and eco-capitalism, is becoming more widespread as a new market-based approach to identifying opportunities for improving environmental quality and capitalizing upon them in the private sector for profit. "

Product design offers the opportunity to incorporate green and socially responsible attributes into a product. Referred to as Design for Sustainability (D4S), it is a process that addresses environmental and social considerations in the earliest stages of the product development process to minimize negative environmental and social impacts throughout the product's life cycle and to comply with the principles of economic, social and ecological sustainability.

Sustainable product design can encompass the selection of materials, use of resources, production requirements and planning for the final disposition (recycling, reuse, re-manufacturing, or disposal) of a product. It takes into account the socio-economic circumstances of the company and the opportunity for the firm to address social problems associated with poverty, safety, inequity, health and the working environment. It is not a stand-alone methodology but one that must be integrated with a company's existing product design so that environmental and social parameters can be integrated with traditional product attributes such as quality, cost, and functionality

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Business Administration / Digital Marketing Channels
« on: May 15, 2018, 02:06:56 PM »
4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.


Here’s An Overview Of The Different Digital Marketing Channels That You Should Consider For Your Business.

Before you start planning an effective digital marketing strategy, you need to understand the different channels in digital marketing. Identifying what channels work best for your business and working on them will help you propel your business forward.

Display Advertising

This channel involves designing graphical advertisements and placing them next to content on websites, e-mails and other digital format, and instant messaging applications. The advertisements can be text, images, audio or video clips, animation, or other interactive content.

While surfing the internet or going through your mails, you may often be presented with advertisements of all sorts. That’s exactly what display advertising is, but it’s important for your adverts to be relevant to what people are looking for. That’s because the success of a display advertising campaign is determined by calculating the number of clicks an advert receives given the number of times it was displayed to the consumer or made an impression on him/her.

You can target your adverts according to consumer behaviour, demographics, or geographic location. Say for example, you own a salon in Raleigh and are offering attractive discounts to locals, there’s no point in letting people across the continent know about the same. A digital marketing services Raleigh firm will be able to set up your adverts in a way that will be beneficial to your business.

With the help of analytics, it is possible to track the number of people who have seen your adverts or clicked on them, what a person did on your site after entering it, and the conversion ratio.

Display advertising not only helps you promote new products or offers, but it helps you increase your online presence and reach out to your customers. Display advertising can help drive leads and increase brand awareness too.

E-mail Marketing

As the name suggests, you market your products or services to your targeted customers via e-mail. E-mail marketing is a great way to gain new customers or improve relationships with existing customers.

E-mail marketing campaigns are good for companies that may not be able to shell out a lot of dough for promoting their business. E-mail marketing also allows companies to promote other marketing channels effectively. However, building customer database and designing newsletters/e-mails can be very time consuming.

Furthermore, not all your customers may have the patience to go through your e-mails as most people have full inboxes. On the other hand, if you keep sending multiple e-mails, it may irk your customers and they may end up marking your e-mails as spam. Find the right balance and avoid sending e-mails that go with the line ’Do not reply’. Have a specific e-mail domain as communicating with your customers is of prime importance.

Social Media Marketing

Social networks like Facebook, MySpace, and LinkedIn, blogs, micro blogging websites like Twitter, forums, wikis or open encyclopedias, content communities like Flickr and YouTube, and podcasts are all forms of social media. All of these forms involve the building of networks or communities by allowing users to interact with each other.

Social media tools encourage users to share opinions, participate in discussions and engage with others in real time. As such, social media marketing can be the best way to market your brand or company, and connect with your customers. However, know that all digital marketing tools have different purposes; you’ll need to identify your company’s goals and your targeted audience before you get started.

Note that encouraging users to engage and participate is often a challenge, so you’ll need to figure out how you’ll go about these things. Furthermore, continuous communication with customers is necessary and you’ll have to make sure that you are aware of all the positive and negative things that customers have to say about your brand.

When posting new content or comments, always think and review more than twice as social media mistakes aren’t easily forgiven. Keep in mind that any user can take a screenshot of your blunder and even if you edit or delete an erroneous post later on, the damage will already have been done.

Lastly, follow social media etiquette so you don’t come across as a spammer.

Affiliate Marketing


Affiliate marketing is performance-based marketing involving a business owner and one or more websites or affiliates. The affiliate website owners place advertisements on their own websites to market the business owner’s goods or services in exchange for a percentage of profits.

Considering an affiliate marketing campaign for your company is generally a good choice; you get mass coverage at no additional costs. You also get more exposure when more websites are affiliated to your business.

Your affiliates can make money in three ways: Pay Per Click, Pay Per Sale, or Pay Per Lead. This means that your brand is advertised for free and you only incur a cost when an agreed action occurs- when a user clicks on your advert on the affiliate’s website, or when a user is led from the affiliate website to your website and purchases a product/service or if the user registers on your website.

Conclusions

While all of this sounds good, know that you’ll need to strategize first. It’s common to see companies marketing their goods digitally without a plan in place. If you dive into digital marketing without a plan, not only will you be unsure of your goals, you won’t even know what you’re achieving.

A plan will help you estimate your online market share and that of your competitors too. With so many companies turning towards digital marketing, it’s important that you pull your socks up and make optimal use of what you can.

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Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.


Many small businesses struggle with deciding which kind of marketing to do, because their budget will only stretch to one or the other, not both. The decisions that must be made are not easy: which method of marketing will give me the most bang for my buck? How do I know if my marketing is working? Who should I trust with my marketing? Should I do it myself? The answers may surprise you.

To clarify the terms, the use of print ads on newspapers and magazines is a simple example of traditional marketing. Other examples include flyers that are put in mailboxes, commercials both on TV and radio and billboards. On the other hand, when a business invests on building a website, advertising the brand name through different social media such as Facebook, Twitter and YouTube, this kind strategy is called digital marketing.

Benefits of Traditional Marketing

traditional marketing, digital marketing,You can easily reach your target local audience. For example, a radio ad might play in one location: your city or region. Or mailbox flyers will go to households in a select number of suburbs.

The materials can be kept. The audience can have a hard copy of materials of which they can read or browse through over and over again.

It's easy to understand. It can be easily understood by most people because they are already exposed to this kind of strategy.

Neuroscience seems to support the benefits of hard copy marketing. A study sponsored by Canada Post and performed by Canadian neuro-marketing firm TrueImpact compared the effects of paper marketing (direct mail pieces, in this case) with digital media (email and display ads).

The technologies used in this study were eye-tracking and high resolution EEG brain wave measurement. The three key metrics evaluated in the study were cognitive load (ease of understanding), motivation (persuasiveness), and attention (how long subjects looked at the content).

Direct mail was easier to process mentally and tested better for brand recall.  According to the report,

Direct mail requires 21% less cognitive effort to process than digital media (5.15 vs. 6.37), suggesting that it is both easier to understand and more memorable. Post-exposure memory tests validated what the cognitive load test revealed about direct mail’s memory encoding capabilities. When asked to cite the brand (company name) of an advertisement they had just seen, recall was 70% higher among participants who were exposed to a direct mail piece (75%) than a digital ad (44%).

The Downside to Traditional Marketing

There is very little interaction between the medium used and the customers. It is more of providing information to the public that the brand exists with the hope of these people patronizing the brand.

  • Print or radio advertisements can be very costly. Printing materials can be expensive and you need to hire people to distribute these.

    Results on this marketing strategy cannot easily be measured. Was the campaign successful?
Benefits of Digital Marketing

You can target a local audience, but also an international one. Further, you can tailor a campaign to specific audience demographics, such as gender, location, age and interests. This means your campaign will be more effective.

Your audience can choose how they want to receive your content. While one person likes to read a blog post, another person likes to watch a YouTube video. Traditional marketing doesn't give the audience a choice. Most people hate receiving sales flyers in their mailbox or phone calls at inconvenient times on stuff that they have little interest in.  Online people get the choice to opt in or out of communications and often it is relevant because they were the ones searching for it in the first place.  Don’t underestimate the power of market segmentation and tailored marketing.

Interaction with your audience is possible with the use of social media networks. In fact, interaction is encouraged. Traditional marketing methods don't allow for audience interaction. You can encourage your prospects, clients and followers to take action, visit your website, read about your products and services, rate them, buy them and provide feedback which is visible to your market.

Digital marketing is cost-efficient. Though some invest on paid ads online; however, the cost is still cheaper compared to traditional marketing.

Data and results are easily recorded. With Google Analytics and the insights tools offered by most social media channels, you can check on your campaigns at any time. Unlike traditional marketing methods, you can see in real time what is or is not working for your business online and you can adapt very quickly to improve your results.

Level playing field: Any business can compete with any competitor regardless of size with a solid digital marketing strategy.  Traditionally a smaller retailer would struggle to match the finesse of the fixtures and fittings of its larger competitors.  Online, a crisp well thought out site with a smooth customer journey and fantastic service is king – not size.

Real time results: you don’t have to wait weeks for a boost to your business like you would have to waiting for a fax or form to be returned.  You can see the numbers of visitors to your site and its subscribers increase, peak trading times, conversion rates and much more at the touch of a button.

Brand Development: A well maintained website with quality content targeting the needs and adding value to your target audience can provide significant value and lead generation opportunities.  The same can be said for utilising social media channels and personalised email marketing.

traditional marketing, digital marketing,Viral: how often do your sales flyers get passed around instantly by your customers and prospects?  Online, using social media share buttons on your website, email and social media channels enables your message to be shared incredibly quickly.  If you consider the average Facebook user has 190 friends of which an average of 12% see their liked posts – your one message has actually been seen by 15 new prospects. Now imagine a number of them also like and share your message and their friends do the same?  That's why high-quality content is so important.

So which kind of marketing is better?

Well, we would recommend both. Obviously, we are passionate about digital marketing, because we know that it works. But we do use traditional marketing materials, too.

A 2009 study conducted by Bangor University and branding agency Millward Brown also used fMRI to study the different effects of paper and digital media.

Some of their key conclusions were:

Physical material is more “real” to the brain.  It has a meaning, and a place. It is better connected to memory because it engages with its spatial memory networks.
Physical material involves more emotional processing, which is important for memory and brand associations.
Physical materials produced more brain responses connected with internal feelings, suggesting greater “internalization” of the ads.

How We Use Both Digital & Traditional Marketing

Our traditional marketing methods support our digital marketing efforts. The two do not operate in exclusion from each other. But we only use hard copy marketing materials to further strengthen a relationship with a contact, referral partner or client. We don't invest in television or radio ads, for example, but we will give brochures to someone who is interested in our services.

Rather than taking an all or nothing approach, it appears that a multi-channel approach that leverages the unique benefits of paper with the convenience and accessibility of digital will perform best.

Source: https://www.digitaldoughnut.com/articles/2016/july/digital-marketing-vs-traditional-marketing

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The Best of the Best eCommerce Analytics Tools to Grow Your Business

E-Commerce Analytics Tools Convert more customers, whether they are cold traffic, social followers or email subscribers, Figure out your pricing structure to encourage new business and lifelong customers alike, Stop playing guessing games with your budget. Each of the following tools ticks the boxes of what modern eCommerce marketers need. Regardless of your budget or industry, any combination of these tools is fair game.

1. Google Analytics
2. Piwik
3. Kissmetrics
4. Hotjar
5. Woopra
6. Klaviyo
7. Visual Web Optimizer

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Why social media marketing is important for  business

Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. And if you are not applying this profitable source, you are missing out an incredible marketing opportunity, as it makes it easy to spread the word about your product and mission.


Improved brand awareness


Social media is one of the most stress-free and profitable digital marketing platforms that can be used to increase your business visibility. To get started, create social media profiles for your business and start networking with others. By applying a social media strategy, it will help you significantly increase your brand recognition. By spending only a few hours per week, over 91% marketers claimed that their social marketing efforts greatly increased their brand visibility and heightened user experience. Undoubtedly, having a social media page for your brand will benefit your business and with a regular use, it can also produce a wide audience for your business in no time.

Cost-effective

For an advertising strategy, social media marketing is possibly the most cost-effective way. Creating an account and signing up is free for almost all social networking platforms. But if you decide to use paid advertising on social media, always start small to see what you should expect. Being cost-effective is important as it helps you attain a greater return on investment and hold a bigger budget for other marketing and business payments. Just by investing a little money and time, you can significantly increase your conversion rates and ultimately get a return on investment on the money that you primarily invested.

Engage with your customers

Social media is a good way for engaging and interacting customers. The more you communicate with the audience, the more chances you have of conversion. Set up a two-way communication with your target audience so that their wishes are known and their interest is catered with ease. Moreover, communication and engagement with customers is one the ways to win their attention and convey them your brand message. Thus, your brand will reach more audience in real terms and gets itself established without any hassle.

Improved brand loyalty

When you have a social media presence, you make it easier for your customers to find you and connect with you. By connecting with your customers through social media, you are more probable to upsurge customer retention and customer loyalty. Since developing a loyal customer base is one of the main goals of almost any business. Customer satisfaction and brand loyalty typically go hand in hand. It is essential to often engage with your customers and start developing a bond with them. Social media is not just limited to introducing your product, it is also a leading platform for promotional campaigns. A customer sees these platforms as service channels where they can directly communicate with the business.

Healthier customer satisfaction

Social media plays a vital role in networking and communication platform. With the help of these platforms, creating a voice for your company is important in improving the overall brand image. Customers appreciate the fact that when they post comments on your page, they receive a modified reply rather than a computerized message. A brand that values its customers, takes the time to compose a personal message, which is perceived naturally in a positive light.

Marketplace awareness


One of the best ways to find the needs and wants of your customers instead of directly communicating with them is Marketplace awareness. It is also considered as the most valuable advantage of social media. By observing the activities on your profile, you can see customers’ interest and opinions that you might not know otherwise if you didn’t have a social media presence. As a complementary research tool, social media can help you get information and a better understanding of your industry. Once you get a large following, you can then use additional tools to examine other demographics of your consumers.

More brand authority

For making your business more powerful, brand loyalty and customer satisfaction both play a major role, but it all comes down to communication. When customers see your company posting on social media, especially replying to their queries and posting original content, it helps them build a positive image in their minds. Regularly interacting with your customers proves that you and your business care about them. Once you get a few satisfied customers, who are vocal about their positive purchase experience, you can let the advertising be done for you by genuine customers who appreciated your product or service.

Increased traffic

One of the other benefits of Social Media is that it also helps increase your website traffic. By sharing your content on social media, you are giving users a reason to click-through to your website. On your social account, the more quality content you share, the more inbound traffic you will generate while making conversion opportunities.

Enhanced SEO rankings

Social media presence is becoming a vital factor in calculating rankings. These days, to secure a successful ranking, SEO requirements are continuously varying. Therefore, it is no longer enough to simply optimize your website and regularly update your blog. Businesses sharing their content on social media are sending out a brand signal to search engine that speaks to your brand validity, integrity, and constancy.

Final words

There is no denying that Social media marketing has many advantages for startups and established brands. By regular updating the right social media marketing strategy, it will lead to increased traffic, better SEO, improved brand loyalty, healthier customer satisfaction and much more. Your competition is already increasing on social media day by day, so don’t let your competitors take your probable customers. The earlier you start, the faster you see the growth in your business.

Source: https://www.digitaldoughnut.com/articles/2018/february/7-reasons-why-social-media-marketing-is-important

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এসএমই ক্লাস্টার


বিগত ২০১১-১২ অর্থবছরে ক্ষুদ্র ও মাঝারি শিল্প ফাউন্ডেশন (এসএমই ফাউন্ডেশন) -এর উদ্যোগে সমগ্র বাংলাদেশব্যাপি ১৭৭টি এসএমই ক্লাস্টার চিহ্নিত করে ক্লাস্টার ম্যাপ প্রস্তুত করা হয়েছে। এরই ধারাবাহিকতায় বর্তমানে চিহ্নিত এসএমই ক্লাস্টারগুলোর “উন্নয়ন চাহিদা নিরূপণ” করা হচ্ছে। ইতোমধ্যে নিন্মলিখিত ৮টি এসএমই ক্লাস্টারের উন্নয়ন চহিদা নিরূপণ প্রতিবেদন প্রস্তুত করা হয়েছেঃ
১.    আতর/আগর ক্লাস্টার, সুজানগর, বড়লেখা, মৌলভীবাজার।
২.    বেকারী এ্যান্ড কনফেকশনারী ক্লাস্টার, খুলনা সদর, খুলনা।
৩.    নারিকেল তেল উৎপাদন ক্লাস্টার, নাগের বাজার, বাগেরহাট সদর, বাগেরহাট।
৪.    ক্রিকেট ব্যাট ক্লাস্টার, বলদিয়া, নেছারাবাদ, পিরোজপুর।
৫.    কুমারখালী টেক্সটাইল ক্লাস্টার, কুমারখালী, কুষ্টিয়া (পরীক্ষামূলক)।
৬.    শতরঞ্জি ক্লাস্টার, নিশবেতগঞ্জ, রংপুর (পরীক্ষামূলক)।
৭.    পাদুকা শিল্প ক্লাস্টার, ভৈরব, কিশোরগঞ্জ (পরীক্ষামূলক)।
৮.    প্লাস্টিক শিল্প ক্লাস্টার, লালবাগ-ইসলামবাগ, ঢাকা (পরীক্ষামূলক)।

বর্তমান অর্থবছরে আরো ৫টি ক্লাস্টারের উন্নয়ন চাহিদা নিরুপণ করার কাজ চলছে। ক্লাস্টার ৫টি হলঃ
১.    মেরিন ইঞ্জিন রিপেয়ারিং/লাইট ইঞ্জিনিয়ারিং     ক্লাস্টার, এন্ডারসন রোড, কক্সবাজার সদর, কক্সবাজার।
২.    কাপড় বুনন সূতা     ক্লাস্টার, চান্দিনা, কুমিল্লা।
৩.    হোসিয়ারী শিল্প ক্লাস্টার, গোবিন্দগঞ্জ, গাইবান্ধা।
৪.    জুয়েলারী ক্লাষ্টার, সোনাপট্টি, নওগাঁ সদর, নওগাঁ।
৫.    কুমারখালী টেক্সটাইল ক্লাস্টার, কুমারখালী, কুষ্টিয়া।

উক্ত কর্মসূচিকে আরো বেগবান করে দ্রুত ১৭৭টি ক্লাস্টারের উন্নয়ন চাহিদা নিরূপণ করার জন্য আগামী অর্থবছরে আরো ৩০-৩৫টি এসএমই ক্লাস্টারের উন্নয়ন চাহিদা নিরূপণ করা যেতে পারে। 

Source: Webportal SME Foundation

15
Business Administration / what makes Uber successful?
« on: May 06, 2018, 03:43:07 PM »
What makes Uber successful?

Uber works because of its peer-to-peer business model running on a digital platform. This means that Uber is connecting people who offer a service with people who have a need.

But let’s take a step back and look at what exactly a business model is. You’ll be surprised that there is actually no universal definition of a business model. According to the St. Gallen University in Switzerland, a business model (see figure 1) provides answers to the following four questions.

Who is your target customer?
What do you offer to the customer?
How is the value proposition created?
How is revenue created?
Structure of a business model

Figure 1. Structure of a business model according to the St. Gallen University.


Let’s have a look at how Uber would answer these questions.

Uber offers its service to two types of customers:


1. people who offer
2. people who want a ride.

The requirements to become a driver are straightforward: a clean criminal record, a newish car and a mobile phone. To get an Uber ride, customers simply need to download the Uber app, register, and provide credit card details.

Uber’s value proposition is in providing a highly flexible source of income for people who own a car. Drivers can determine when and for how many hours they work.

The value proposition for passengers is in:

- cheap, undercut market rates
- a wide network of drivers
- real-time information on where their ride is
- automatic credit card payments.

Then Uber creates value internally by not having to deal with:

- servicing and maintaining a fleet of taxis
- rent
- call centre agents
- administration
- parking fees
- recruiting and training drivers and issuing permits.
This all means massive savings in fixed and variable costs.

Uber makes money by charging a commission of up to 30% from the drivers. Uber uses an automated algorithm to adjust prices and influence supply and demand in the market, resulting in significantly higher fares at times of high demand.


So what does this all mean?

Looking at all this, it’s clear that Uber is not a taxi company – it’s an online platform that connects people. And that’s not new either. The peer-to-peer business model is used by many organisations, including eBay, Trade Me, Airbnb, and essentially every dating service.

Technology itself is seldom disruptive. If your industry is going to be disrupted, it’s going to be by trivial technology combined with a trivial, but effective, business model. And it’s likely to be an outsider, a start-up or an organisation from a different industry that’s not constrained by current industry logic and thinking, that disrupts you.

Source:

https://digital.pwc.co.nz/ideas/uber-digital-and-disruption-whats-happening-and-why-does-it-work/

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