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Top Ecommerce Marketing Platforms for 2023
Glance through this listicle to make your entrepreneurship dream come true. Know the top ecommerce marketing platforms for 2023! The world at large is witnessing a huge shift in people’s preferences in the way they shop. With powerful features that make business convenient, cost-efficient, and economical for both buyers and sellers, it’s an exciting time to set up shop online.
As the e-commerce scene is on the rise today, there are tons of options in platforms to choose from. Choosing the right e-commerce platform for your business is one of the crucial steps to ensure a profitable trade. This blog will help you choose from the top 5 e-commerce marketing platforms that are present in the market today and will suit your specific needs.
Shopify- Shopify is arguably the biggest e-commerce platform today. Its extensive features make it the preferred platform to market any kind of business. From small-scale side hustles to large-scale enterprises, Shopify has room for it all. The platform is immensely versatile and holds the capacity for almost any kind of business, be it B2B or B2C, online or offline. From setting up an online store to payment processing, Shopify caters to all your business needs. The Shopify team has built a new exciting program called ‘Shopify Capital’ that helps merchants in need get funding more efficiently.
BigCommerce- BigCommerce is infamous for being one of the world’s leading open e-CommerceSaaS platforms. Its low total cost of ownership and highly flexible APIs make it a preferred marketing platform. BigCommerce offers users a compelling combination of high customizability and flexibility of open-source marketing platforms and the hassle-free nature of SaaS. The marketing platform’s best-in-class APIs swiftly integrate with the existing tools and systems of corporations and synchronize and centralize all the data. This comes in especially handy for companies that are already established and have been working with older technologies.
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Top Predictive Analytics Trends in 2023
With the advent of big data analytics, what does the future of businesses look like? Find out in this article on top predictive analytics trends in 2023! It is quite clear that data analytics trends will play a major role in shaping the future of businesses. Those utilizing analytics and its key trends will be the frontrunners of the industry. In this blog, we have listed the top predictive analytics trends in 2023 that will dominate the industry dynamics. Scroll through to know them all.
Data is at the heart of any business looking to scale exponentially in the current cutthroat market. While some organizations have built their entire business models around data, most companies today regularly capture, analyze, and store colossal amounts of data to drive their business outcomes. Big data analytics, data science, and artificial intelligence are just some of the key trends that are accelerating growth in various market sectors today by drawing up conclusive patterns, capturing insights, tracking consumer behavior, improving customer engagement, and much more.
Artificial Intelligence- Modern technologies like machine learning, artificial intelligence, robotics, automation, and more have revolutionized many businesses. Data analyticsis evolving at pace with AI and unlocking new potentials for businesses by predicting demand and increasing sales. By formulating processes that are efficient and effective, AI is improving warehouse stocking levels and speeding up the transit period for increased customer satisfaction. A good AI system can dramatically accelerate the growth of any business as it is highly adaptable, protects personal data, is time-efficient, and offers high ROI as well.
Data Democratization- Data democratization is here to empower everyone in the organization regardless of their technical expertise. This allows everyone to interact comfortably with the data and to discuss it confidently, eventually leading to better business decisions and customer experience. Data democratization is enabling non-technical users to gather and analyze data without the assistance of IT staff, system administrators, or data stewards.
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Need of Virtual Assistants for Businesses
Businesses have automated many processes, including customer services with virtual assistants for business. But can they provide a human touch for customer interactions? In the tech era, businesses have digitally transformed to serve their customers better. Customer experience shapes the business reputation, enhancing the possibility of sustaining in marketplaces. It is the foundation for customer acquisition by tapping into new markets in different demographics. As attending to customer needs is vital, businesses need a virtual assistant to redirect customers to concerned departments for their query resolutions.
What is a Virtual Assistant?- A virtual assistant is a remote employee giving administrative support to your business. They do all tasks which an executive assistant usually handles. Some crucial examples could be scheduling appointments, phone calls, and more. They are independent contractors, but in some instances, they can work remotely. However, these processes must require human intervention. Machines cannot answer all questions; human interaction is the key to knowing what the customer wants.
Businesses and Virtual Assistants- While many businesses have turned to digital transformationto increase workforce efficiency, there are feasible options that can lend them a helping hand on this front. One of them is a virtual assistant. However, businesses must identify monotonous tasks to draw the required ROI from this mechanism. A virtual assistant can collect customer feedback to know the improvement areas. These answers pave the road for businesses to serve the markets better.
Which tasks do they perform for businesses?- As mentioned above, virtual assistants offer remote support for businesses; they do not have a to-do list. These tasks differ according to the nature of a business. Below are some standard task sets they perform in a corporate setting: From a broader business perspective, organizations can look forward to expanding in international markets. It increases the probability of knowing various customers and building your virtual assistant to handle prospective queries. These conversations enhance the organization’s goodwill and increase customer loyalty.
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Top Proximity Marketing Tactics And Tools 2023
Following tech innovations, digital marketing has become vital for marketers. How does proximity marketing influence buyers and aid in purchase decisions? Proximity marketing is an instant and personalized solution that helps to engage consumers and understand their buying behavior which enables buyers to make purchasing decisions. Read on to know more about proximity marketing tactics & tools in 2023!
Why is proximity marketing important?
Business entities can easily target consumers by geo targeting feature
Increases engagement by just downloading mobile applications
Bluetooth/beacons help to pitch products through app notification
Proximity marketing allows a competitive advantage for marketers
Proximity marketing offers a personalized experience to consumers
What is Proximity marketing?- Proximity marketing is also known as hyper-local marketing. This marketing tactic helps consumers get notified of offers, coupons, and discounts allowed by certain stores or shops specifically designed for that particular individual. Personalized advertising is restricted to the specific local area based on the technologies like Bluetooth, beacon, WiFi, geofencing, near-field communications (NFC), and QR codes.
How does proximity marketing work?- Hyperlocal marketing is useful to target potential customers with more customized advertisements based on buying patterns. Proximity marketing tools & tactics also analyze the particular location and influence consumers’ purchase decisions in the near future. Local advertising consists of small shops, local area marketers, shopping complexes, city blocks, store outlets, and small places where businesses pitch and promote their products and services.
Tech use in Proximity marketing
QR codes: Quick response codes are easy to pitch the product/services and engage consumers. The user can get more information about the product or service quickly, and the information is sent directly to their device.
WiFi: Near-real-time proximity marketing maximizes engagement with customers in targeted areas through real-time communication.
NFC: Near Field Communication (NFC) marketing is a proximity marketing channel used to interact with a location or a physical object at a small distance.
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Top 5 iPaas Benefits with Suitable Examples
In business, data sharing drives the decision-making process. An iPaaS simplifies the process. Are there any platforms supporting the process?
What is an iPaaS?- An iPaaS or integrated Platform as a Service is a solution to automate business processes by data sharing through business applications integrated across all departments. Leveraging this solution can increase workflow efficiency by reducing dependency on applications such as spreadsheets and email.
Easy to implement multi-cloud- As a business does not rely on a single vendor to manage its processes, an iPaaS makes it simple to connect these solutions. iPaaS eases cloud integration enabled with multi-cloud management. A central portal with easy-to-use controls can make monitoring and coordinating easy.
Enables API initiatives- Every business has different API sets, and their nature differs according to the purpose leading to data inconsistencies. The IT teams are benefited from this aspect as they can measure API performance and its lifecycle through iPaaS on the same platform. An iPaaS bridges this gap making data consistent and readable.
Cost-effective integration- Moreover, the subscriber will pay for the required service level rather than an upfront investment. It gives the user the freedom to predict expenses. An iPaas integration lets you connect the other app in minutes. While achieving this, the iPaaS provider manages to keep the subscription amount affordable.
Adaptable and User-friendly- As iPaaS is adaptable, it can quickly adapt to changes or add a new requirement as long as your mobile appsare responsive to the modifications. With this distinct feature, the integrated solution will grow with your business.
Better data security and compliance- The management and security features of iPaaS are advanced compared to other platforms. Furthermore, it should also offer the latest enterprise authentication technology. The iPaaS solution should meet all regulatory and compliance standards.
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Basics of Neural Network Technology
Neural networks are complex, integrated systems that can analyze data more accurately and quickly than humans. Why is this technology so important today? Artificial Intelligence (AI) is a term used frequently in science and technology, and recent developments have contributed to AI’s increased use in all industries. Machines could learn from their errors and do tasks more efficiently using AI. The Artificial Neural Network Technology, which is modeled after the structure of the brain and helps computers and machines behave more like humans, is one of its innovations. This blog will give you a better understanding of AI Neural Networks’ design and how it operates.
What are Neural Networks?- A neural network is an artificial intelligence technique that instructs computers to process data like the human brain. It is a process that combines AI and ML techniques known as deep learning that uses interconnected neurons or nodes in a layered structure to mimic the human brain. Computers can use this to build an adaptive system that helps them continuously get better by learning from their mistakes. As a result, artificial neural networks accurately tackle issues like summarising documents or identifying faces.
The neural networking technique uses cutting-edge technological ideas like fuzzy logic, gradient-based training, and Bayesian methodologies. Since one level of neurons feeds the next, a system like this is known as feedforward. In the domains of AI, machine learning, and deep learning, neural networks enable computer programs to identify patterns and resolve common issues by mimicking the behavior of the human brain.
How does neural network technology work?- Neural network technology relies on a sequence of many different processors operating together and in parallel as opposed to the conventional approach of computation using a central processing unit. They are made up of several groups of nodes known as neurons, each of which is programmed to recognize patterns, decipher data, and respond to stimuli, or, in certain situations, to start an autonomous activity. These neurons are frequently arranged in increasing knowledge layers, with one layer feeding into another to carry out more challenging tasks.
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Five Must Have KPIs for B2B Marketing Reports
The ways of B2B marketing KPIs & reportshave been changing rapidly in the past few years. How can marketers measure their campaign impact with greater accuracy? If you’re a B2B marketer, you’ve been on a rollercoaster ride for the past few years. The pandemic temporarily halted in-person events, a major source of leads for many B2B companies, prompting marketers to shift to digital channels. Many CMOs scrambled to upgrade their martech stack and figure out how to measure campaign impact with greater accuracy.
While marketers on the B2B side may have expanded their use of digital channels, added to the martech stack, and adopted ABM in greater numbers, the “defend the spend” imperative remains. In fact, it gained intensity. So, what should marketers be measuring now, given all the changes in the industry? Here’s a closer look at five must-track KPIs for a new era in B2B marketing.
At the same time, marketers continued to adopt account-based marketing (ABM)strategies, which became the go-to approach after intent data providers made ABM practical at scale. Marketers also had to deal with changes in the customer base, reevaluating long-established ideal customer profiles to accommodate marketplace shifts as target customers reevaluated priorities and reined in spending.
Activation rate : Forrester revised its B2B Revenue Waterfall last year to more accurately describe the sales and marketing funnel in an ABM context. In the new framework, marketing’s most important job is to activate accounts, and the activation rate tells you how marketing campaigns are performing in terms of engaging and prioritizing buying groups after intent has been detected.
Pipeline speed : This KPI measures the velocity at which accounts are moving through the funnel, which is an important metric because it can tell you which campaigns are driving accounts through the funnel fastest. Say your company’s sales cycle averages 180 days and a certain campaign and/or channel is closing business in 90 days.
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The Martech Industry: Today & Way Forward
Martechis driving growth for organizations today. How crucial is it for companies to have Martech solutions in place to have a competitive edge? In the post-pandemic era, the world is experiencing transformation in all industries. Digital transformation has revolutionized nearly every aspect of business, including marketing. Competitive market conditions are pushing companies to adopt advanced tech solutions. The Martech industry today & in futureis deliberately focusing on enhancing user experience (UX). Enhancing UX is resulting in better outcomes and better consumer engagement to sustain businesses and marketers in the competitive market.
MarTech is the combination of Marketing and Technology, which consists of digital tools and platforms marketers use to inform, strategize, and execute business operations effectively. Changing consumer behaviors, buying patterns, and fluctuations in supply chains are impacting the global market. There has been a significant rise in the incorporation of effective Martech tools after Covid-19. Such digitally advanced tools and platforms enable marketers to grab opportunities in niche markets. And it is now important to understand what is coming up ahead!
Benefits of Martech-
Personalization- Business entities are focusing on the personalization of consumers, and AI bots are helping to assess individual buying behaviors and deliver better UX. The algorithms based on machine learning also enable data segregation and provide more personalized results.
Visualization- Augmented reality and virtual reality tech solutions are helping marketers and many e-commerceentities to provide a visualization of products. For example, the use of bots, automation, voice search, AR/VR, and data analysis is helping business entities ramp up their business. This technology enables a 3D view of products, which helps boost the buying confidence of consumers.
Automation- Automation can bring speed and efficiency to business functions. For example, the use of chatbots is replacing manual efforts and improving efficiency. This helps consumers to resolve their queries and get information about products or services on a real-time basis.
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Focus on Value Alignment Influences Customer Loyalty
The key to customer retentionin today's acutely aware world is the alignment of brand value with customer values. The world is evolving, and so are we. Today, we’re more acutely aware of the environments we live in, and the impact brands have within them. This awareness has not only made its way into the consumer landscape, but it’s also in the hearts and minds of humans like never before. So, what is driving this complexity in the consumer landscape today. How value alignment influences customer loyalty, and how can brands appeal to customers on a more human level? Let’s dive in.
Additionally, amid the digital revolution, access to information has never been easier. To be sure, it’s not just about product purchases and experiences anymore—consumer reasons for choice and consideration today are far more complex. Consumers want to engage with brands that have a greater purpose than just increasing shareholder value, and as such, new equation is emerging as consumers think about brand loyalty and the interplay of values. A simple Google search uncovers vast options and information about brands and the customer experiencethey deliver.
Options, information, and power: Consumers have it all - Consumers have more options today than ever before. On top of that, globalization and ease of entry for new brands make switching between them much easier. If consumers have a bad experience or the brand doesn’t seem to live up to their values, they can substitute another brand with the click of a button and relatively little risk.
Values-matching is the new price-matching- The stakes are high for brands today, and they’re under pretty extreme pressure to deliver. Brand loyalty is being driven by something more than reliable products and great experiences. Loyalty hinges on how and whether brands are being transparent about their values and how they connect to consumers as it relates to their own corporate goals.
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Why You Need an Alternative to Google Analytics?
Data and insights are the most valuable currency in your organization – but how valuable is your analytics if you can’t action them right away? It’s official – Google is now calling time on its Universal Analytics (UA) tool. Challenges associated with EU privacy now mean that Google is sunsetting its UA in favor of a privacy-first approach and it will be pushing its customers to adopt Google Analytics 4 (GA4).
Reasons Why You Need an Alternative to Google Analytics
You put yourself in the driver’s seat- While it’s great to innovate with Google, you may want to make a move that puts you in control. Adopting GA4 means having to learn the ropes again. The longer you wait to set up your GA4, the less historical data you’ll have; the tracking and dashboards you’ve previously created may need to be remade. A move is inevitable, but there’s more than one option for businesses.
First-party data and zero-party data are gaining ground- Marketing is shifting from third-party to first-party data, but if your primary source of insights is still Google Analytics you’re already behind some of your competitors. While GA4 aims to move away from cookies, you’re expected to provide rich customer insights as you’re encouraged to leverage first-party and zero-party customer data.
What is the true cost of free analytics?- “Free Analytics” sounds very tempting, especially for cost-conscious CMOs – but we all know that nothing ever really comes for free. Whether you’re an enterprise-level, SMB, or small business, every single piece of technology in your MarTech stack delivers a clear value and function, at a cost. And for many businesses, Google Analytics UA is usually the only platform in your marketing technology stack that’s free. For many businesses, Google’s UA has been indispensable, particularly as it came at no cost at all to their marketing budgets.
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