There are around 1.95 billion websites on the internet. This means there are 1.95 billion online businesses out there who want the same thing as you: the attention of their customers.
The competition might not be direct but that doesn’t mean it’s not there. At the end of the day, the more time they spend watching movies on Netflix, the more time they are not shopping on Amazon or interacting with people on Instagram or Facebook, or interacting with your brand.
Perfect Your Online Presence
To be their first preference, or be in the top-of-mind awareness for a specific industry or category, maintaining a consistent and engaging online presence of your business is essential. But occupying premium space in your target audiences’ minds doesn’t have to be expensive or hard.
The key to making your online presence more effective is to be human. This makes your brand relatable, giving your target audience a chance to connect with your brand.
In addition to that, let’s explore some other effective ways you can strengthen your online presence in 2021.
6 Ways to Strengthen Online Presence of Your Business
1. Optimize Website User Experience
Your website is your business’s first impression. And to make the right first impression, you will need to create an intuitive and rewarding experience for your visitors.
Start by removing unnecessary steps and elements that create friction in their overall experience. The simpler your website, the better the customer experience.
If you are still in the website designing and development phase, here’s an amazing website design cost estimator to help you create an appropriate budget.
Secondly, there’s nothing more boring and off-putting than a static website. So try adding interactive elements like videos, slides, quizzes, games, etc. But also make sure they are fun, add value to their experience, and create unnecessary friction for them. Such elements should complement your website’s main goal and shouldn’t drive your customers’ focus from the main goal.
Lastly, invest in tools that can help you create personalized experiences for your visitors. Netflix and Spotify are the kings of a personalized experience, as they recommend movies and songs, playlists to their viewers and listeners based on their past choices. This is a great way to make your customers feel special and heard.
Other simple and effective ways to optimize your website’s user experience:
- Providing easy-to-access customer support
- Optimizing CTAs based on past data
- Implement responsive web design
- Keep forms short and simple
2. Make the Most of Google My Business
Google My Business (GMB) is a free tool offered by Google to help business owners manage their branded online presence. Optimizing your Google My Business listing can boost your local rankings, improve search engine engagement, and convert more customers.
The first step is to claim your business on GMB and add in the basic information like your business’ name, address, working hours, website link, phone numbers, email address, etc.
Once you are done with the basic information, work on the following sections:
- Question and answers – you can add them based on the past customer questions and feedback
- Product and service listings
- Posts – based on your industry, specific category, and target keywords
- Reviews – ask your loyal customers to leave a review of their experience with your brand
One of the main sections of GMB is the Business section which is a brief description of your offerings. Make sure the description is engaging, friendly, and has the target keywords. Also, keep the content simple and concise.
Lastly, keep adding quality photos of your product or office space to increase customer engagement.
3. Data Protection
The more protection you provide, the stronger your customers’ trust becomes.
Data leaks, thefts, and hacks are happening quite frequently these days. As a result, businesses need to pay attention and prioritize making efforts to protect their customers’ data.
Here are a few ways you can get on top of protecting your customers’ data:
- Endpoint, email, and network protection to filter files containing spam and malware
- Conduct company-wide cybersecurity training sessions
- Secure the web gateway
- Have a data protection policy in effect
- Add encryption on servers to protect sensitive data
4. Create Useful and Engaging Content
When we say content, we mean content in every form and shape—blogs, infographics, videos, podcasts, ebooks, whitepapers, case studies, etc.
Creating value-adding and engaging content goes a long way in building a good rapport with your customers. However, the key to successfully utilize the true potential of content is to be consistent with it. And the key to being consistent is to have a content plan in place. But make sure your content plan aligns with your business’ main goals.
Here are a few ways you can create original, engaging, and value-adding content for your customers:
- Tell a story, but make sure it has some useful takeaways, because they are going to spend 10-12mins of their lives reading your content, so make it worthwhile.
- Invest in creating evergreen content and then reuse it into graphics, Twitter threads, Instagram stories.
- Enable your followers on social media to create branded content for you by giving them assets like meme templates, reels, giveaways, and use the user-generated content to build trust among your audience.
5. Engage in Real-time on Social Media
To engage with your followers on social media platforms, talk about what you know: your industry. Don’t just talk about your products/services; share your knowledge and expertise with your audience. For example, if you have a chain of gyms, then you can share your knowledge about nutrition, discipline, exercises, training, etc.
When you share your expertise, you are giving your audience a rock-solid reason to trust you. And for a cherry on top, you can showcase some of your best work through case studies, before/after posts, testimonials, etc.
After you’ve built a small group of loyal followers, you can host giveaways, making it easier for your loyal followers/promoters to promote your brand. You can also host Q&A sessions to answer FAQs and real-time questions about the products or your area of expertise.
One other great way of engaging with your target audience is to share/repost content from businesses with similar target audiences. Following the same example, a gym owner can repost content from dieticians, nutritionists, personal trainers, bodybuilders, etc. When you repost their content, they’ll mention your business which means their audience will engage with your account.
6. Spend Wisely on Advertisement
There’s no way around paid advertisement anymore. After all the efforts improving user experience, social media engagement, and content marketing, you’ll still need to invest in paid advertising to reach your target audience with the right message, at the right time, with the right call to action for better conversions.
Quick tips to start with the paid advertisement:
- Create a checklist for paid advertisement
- Have a properly analyzed advertising keywords list for campaigns
- Test, analyze, optimize, and repeat for the best results
Quick tips to start with social media paid advertisement:
- Experiment with different forms of content, time frames, and audience
- Fine-tune your copies, schedules, and budget
- Always go to social media analytics for new ideas for campaigns and to analyze which kind of content works for your business
Pro Tip: Always have a predefined budget before running any paid campaign, which should be according to what you are willing to pay to acquire leads/customers.
Lastly, Stay in Touch
After doing all this hard work, you don’t want your customers to visit/shop with you only once. So, make sure to have an after-sales communication plan in place to keep them engaged with your business. It could be through email newsletters, app notifications (if you have an app), social media campaigns, offline advertising, feedback loop, etc.
Image Credit: anna tarazevich; pexels; thank you!
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!