There is a growing shift in the way consumers shop online, and social commerce is at the forefront of this change as it provides brands and consumers with a frictionless, and more convenient, commerce experience.
The steady rise of social commerce over recent years has provided brands an opportunity to deliver their goods and services directly to social media users, enabling them to interact and purchase their favorite items without having to leave the app.
Social commerce has experienced stratospheric growth. It’s expected that by 2025, social commerce will represent 5% of all U.S. eCommerce shopping. Globally, market capitalization is predicted to swell to nearly $2 trillion by the same year.
After all, research suggests that on average, the typical social media user now spends around 15% of their life using social media platforms. What’s more, it’s been found that around 10% of American adults have an addiction to at least one mobile app.
With the power of social commerce taking shape, brands and small businesses can deliver an intimate shopping experience for their customers, by placing the right products and services in front of the right target audience. This delivers improved target marketing efforts, but at the same time enables brands to boost their online engagement and potential sales.
Investing time and resources to create shoppable posts on social media can help small businesses take better advantage of digital selling and the content economy.
A shoppable post can be considered an essential part of the overall customer shopping experience. Shoppable posts will allow social media users and loyal customers to shop through social media platforms, without having to be redirected to a webshop or online store.
Businesses should choose the social media platforms for their social commerce and shoppable posts that see the most frequent customer interaction. Instead of spreading it over several platforms, only to witness minimal sales, focus on one or two platforms that can generate substantial sales and customer engagement.
Back in May 2020, at the height of the pandemic, Facebook, now known as Meta, launched Facebook Shops, a digital integration on the social media app that allows businesses to market and sell their products via the platform to users.
Since then, Facebook Shops has grown tremendously, seeing more than 250 million monthly active users, and around one million sellers.
To get started, sellers will need to have a Facebook Business Page or sync other eCommerce platforms with Facebook. Using the sync option would mean that if a customer purchases an item via Facebook, it will automatically deduct it from inventory lists on other eCommerce platforms the business is using.
Creating shoppable posts will require sellers to tag the corresponding products from a shop or post in their content. The tags will allow viewers to automatically have access to the item, price, and other relevant information.
If a customer decides to purchase an item, they can click on the tag and will be automatically directed to a checkout, where they can insert their shipping information and payment details.
Roughly 19% of American consumers across several age categories begin their online shopping search on Facebook, making it one of the top social networks used for this purpose.
Similar to Facebook Shop, and operated by Meta, Instagram Shopping has steadily become one of the top places for brands and small businesses to sell their goods.
It’s projected that in 2023, around 35% of Instagram users will purchase on the platform. What’s more, according to Instagram, roughly 44% of people use the platform for shopping at least once a week.
Instagram Shopping allows businesses to create and publish content, such as photos, videos, and reels, onto their profile and tag the corresponding products in each post. Additionally, there is a separate shopping tab available on the app, but the button for this has been removed from the on-screen navigation menu since February 2023.
Businesses can either create an Instagram Business account or integrate a product catalog from Facebook Business Manager, or those using Shopify or BigCommerce, they can integrate the catalog directly onto their Instagram profile.
When content is published, with tagged items, users can then be directed to the on-app store, and make use of Instagram Checkout to finalize their purchase. Instagram creates a frictionless shopping experience for users and gives brands more leverage to market products directed toward specific target audiences.
TikTok For Business
TikTok has completely changed the game of social commerce since its inception in 2020. Big box brands and small businesses have leveraged the possibilities of TikTok For Business to generate substantial traction for their goods and services.
Some businesses have seen generating more revenue through a single live shopping event than what it does in one week in its flagship store. Around 44% of TikTok users say they have purchased products after seeing them advertised or promoted on the platform.
The success of TikTok For Business helped inspire the hashtag, #TikTokMadeMeBuyIt in recent years, where brands and content creators are collaborating to provide users with engaging content, videos, reels, and promoted posts.
Using TikTok For Business is similar to other social media platforms, and will require users to switch their accounts from “Personal” to “Pro.” Businesses can then either use the TikTok for Business Inspiration Center for content ideas, collaborate with influencers and other content creators, or follow a digital content strategy to help generate more engagement.
TikTok Shopping can be used with other eCommerce platforms such as Shopify, while others such as Square, Wix, Ecwid, and OpenCart are still in the process. Businesses will be able to link catalogs from Shopify with their TikTok accounts, which gives users the ability to explore more options.
TikTok is perhaps one of the most popular social media apps in the world at the moment, and small enterprises will need to leverage the opportunities of TikTok Shopping as an ongoing effort to increase their visibility and boost sales among users.
If Pinterest were a country, it would be the third largest in the world, with more than 450 million users every month using the platform to search for new ideas and help inspire their next purchase.
According to Pinterest Insights, roughly 80% of those using Pinterest, or Pinners as the platform calls them, have discovered new brands and products on the platform.
Although the platform sees more unbranded searches, it’s perhaps one of the biggest social platforms users go to for ideas, inspiration, and creativity.
Small businesses that upload products on Pinterest can convert these uploads into Pins, which are considered Rich Pins. These pins will automatically compile and deliver all the necessary product information such as descriptions, prices, and availability for users.
To keep everything organized, brands can enable a “Shop” tab, which hosts a collection of product pins that correlate with the brand’s eCommerce store or website. The platform is still busy testing out its Checkout features, which is in its beta testing phase for merchants in the U.S. such as Shopify among others.
Currently, users are redirected to the merchant’s host website or eCommerce store to complete and finalize transactions.
While Pinterest may not seem like a general choice for social commerce, some brands are witnessing widespread success through Pinterest Shopping, and experiencing increased exposure.
In recent years, Twitter has started experimenting with social commerce, launching the Twitter Shops feature as recently as March 2022. Unlike other social media platforms, the Twitter Shops is still a work in progress, which means that sellers will perhaps have fewer digital native tools for their online store.
As part of the Twitter shopping family, there are two different commerce tools, one is referred to as Twitter Ships, which allows sellers to pick up to 50 products to showcase to users. The other is Shop Spotlight, which gives brands the option to pick five products that they can directly link to their profile.
Twitter Spotlight enables brands to create a more immersive shopping experience, and to highlight a catalog of several different products.
Other features include Live Shopping and Shopping Manager, which allows merchants to promote their products more openly, and have better support from professionals to set up and operate their online store.
Unfortunately, there is no native checkout tool, and businesses will need to integrate their websites with the platform to redirect shoppers to eCommerce sites to finalize their purchases or transactions.
There is a growing community of businesses and small startups that are now leveraging the possibilities of social commerce, enabling them to connect with their audiences and deliver more accurate and tailor-made shopping experiences for consumers.
Aside from the more general purposes of social commerce, there is also more room for small businesses to establish a brand voice and become authoritative figures within their marketplace. There is further growth in partnerships with influencers and other content creators, whereby brands can expand their public visibility to different audiences and possible customers.
Through social commerce, brands can create a more intimate experience with live shopping or product videos. Brands can also track and monitor customer comments, and utilize data metrics to help establish critical marketing strategies and better understand product development.
There is big business in social media for small businesses and startups that can utilize native digital tools to promote and sell their products. Social media helps businesses grow their audiences, but also, it helps them better understand who their target market is, and how they can put their products in front of them.
Published First on ValueWalk. Read Here.
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How to Move from Cybersecurity Silos to Holistic Protection
Safeguarding sensitive data and systems is paramount, yet conventional approaches often fall short. These methods rely on disparate tools and tactics, creating what we call ‘cybersecurity silos.’ In this guide, we’ll unveil a comprehensive cybersecurity strategy that fortifies your defenses, enabling you to combat various threats.
Even high-ranking professionals like Chief Data Officers grapple with this issue. Recent research reveals that 55% contend with over 1,000 data sources within their organizations. Additionally, by 2023, 50% plan to implement five or more management tools. This underscores the magnitude of the challenge posed by data silos.
Picture a fortress with towering walls, yet each wall stands alone, and the guards on each wall can’t talk to those on neighboring ones. In the realm of cybersecurity, this is a common scenario known as “Cybersecurity Silos.”
In simpler terms, Cybersecurity Silos happen when different security teams or departments work separately, not sharing information or coordinating their efforts effectively. These silos often form due to specialization, old systems, or a lack of communication channels.
Understanding cybersecurity silos is vital because they bring various challenges and limitations:
Limited Sight: When security teams operate independently, they see only a small part of the threat landscape. They might miss signs of cyberattacks because they focus narrowly.
Resource Waste: Cybersecurity budgets are usually based on siloed departmental priorities. This can lead to inefficient spending, with some areas getting too much while others get too little.
Slow Response: When a security incident occurs, the lack of coordination among siloed teams can slow down response times, giving attackers more time to cause harm.
Duplication and Confusion: Different teams might invest in similar security tools separately. This not only wastes resources but also creates conflicts and confusion.
Compliance Hurdles: Siloed approaches can make it tough to comply with industry regulations and data protection laws, often requiring a cohesive security strategy and unified incident reporting.
Benefits of Holistic Protection
Holistic protection offers a comprehensive view of your digital environment by incorporating various security tools and processes. This integration boosts threat detection, analyzing data from multiple sources concurrently to identify potential breaches swiftly. Early detection is vital for halting cyberattacks and safeguarding data.
During a cyber incident, holistic protection enables a coordinated response. Seamless collaboration among security elements empowers your response team to isolate affected systems, mitigate threats, and restore operations promptly. This reduces downtime and prevents breaches from escalating.
Contrary to the perception of high costs, holistic protection proves cost-efficient in the long term. It eliminates redundancy in standalone security solutions, reducing licensing, maintenance, and training expenses. Early threat detection and efficient response also avert financial consequences from breaches.
Many industries face stringent data protection regulations. Holistic protection aids in achieving and maintaining regulatory compliance by consolidating security measures and showcasing proactive cybersecurity. This not only avoids fines but also builds trust with data-conscious customers.
Steps to Transition to Holistic Protection
To shatter cybersecurity silos, first, pinpoint them. These silos emerge when different parts of your organization handle security separately. Identify these isolated efforts.
Once you’ve found them, evaluate the effectiveness of their tools. Check if these tools are outdated, repetitive, or inadequate for evolving threats.
Set precise goals for your comprehensive security plan. What’s your aim? Clear objectives are vital to complete threat visibility, better incident response, or regulatory compliance.
Ensure these goals align with your organization’s broader strategy. This alignment secures leadership’s support and resources.
To nurture collaboration, break departmental barriers. Encourage open communication and shared responsibilities.
Foster the exchange of threat intel and security insights. Create regular meetings or channels for sharing emerging threat information.
Consider investing in unified security platforms for a single view of your security. They manage multiple tools and technologies from a single dashboard.
Select vendors open to collaboration and integration with your security stack. Partnerships are key to holistic protection.
Regularly assess your security posture with tests and scans. Identify weaknesses and areas for improvement.
Stay vigilant and adaptable in the ever-evolving field of cybersecurity. Your holistic strategy must evolve with it.
Overcoming Common Challenges
Transitioning to holistic cybersecurity faces resistance from employees accustomed to old practices. Invest in thorough cybersecurity training to show the benefits for both the organization and individual roles, fostering acceptance.
Leadership plays a pivotal role in this shift. Gain their support, let them champion the cause, and communicate its importance company-wide. When leaders lead, others tend to follow.
Budget constraints can be a hurdle, but prioritize critical areas needing immediate attention and allocate resources wisely. Start with cost-effective, high-impact solutions, expanding the budget as the organization grows.
Seek innovative, budget-friendly cybersecurity solutions like open-source tools, community initiatives, or cloud-based security services for maximum coverage without straining finances.
Develop a clear integration strategy to tackle the complexity of integrating security tools and data management. Choose tools designed for seamless compatibility and invest in a robust SIEM system for centralized data control. Adapt your strategy as your cybersecurity landscape evolves.
If integration issues persist, consider consulting cybersecurity experts. They offer tailored insights, best practices, and vendor guidance to optimize your investments.
Transitioning to comprehensive cybersecurity is a vital necessity in today’s digital world. Collaboration, breaking barriers, and embracing integrated solutions enable effective defense against evolving threats. Achieving holistic protection is an ongoing journey demanding constant vigilance and adaptation to outsmart cyber adversaries. Your dedication will define the security and resilience of your digital assets.
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NSA launches AI security center amid growing cyber threats
As artificial intelligence weaves itself deeper into the fabric of national defense, the U.S. National Security Agency has unveiled a dedicated AI security hub. The NSA’s outgoing director, General Paul Nakasone, announced this strategic move on Thursday.
The new AI division will nestle within the broader framework of the Cybersecurity Collaboration Center, a nexus where the NSA collaborates with private entities and global allies. The Associated Press reports that the goal is to bolster the nation’s cyber defenses, especially with looming threats from powerhouses like China and Russia.
At a recent press event, Nakasone voiced concerns over the U.S.’s lead in artificial intelligence, particularly in relation to Beijing’s growing cyber capabilities. “We maintain an advantage in AI in the United States today,” he said. “That AI advantage should not be taken for granted.”
AI and the global cybersecurity landscape
With the 2024 U.S. presidential elections on the horizon, Nakasone confirmed that there’s no evidence yet of interference attempts by major adversaries like Russia or China. However, he emphasized the U.S.’s commitment to safeguarding global elections in partnership with international allies.
China has had clear cyber ambitions, with recent activities hinting at attempts to compromise U.S. military communications. Both the U.S. and Japan have raised alarms about Chinese cyberattacks on their defense infrastructures.
On the AI front, Nakasone clarified the role of technology in threat analysis.
“AI assists us, but humans make our decisions. This distinction is crucial,” he said. “We do see assistance from artificial intelligence. But at the end of the day, decisions will be made by humans and humans in the loop.”
The new AI hub will collaborate with various U.S. sectors, including academia, research labs, the Defense Department, and global partners.
As the NSA gears up for a leadership transition, Air Force Lt. Gen. Timothy Haugh is poised to take the reins from Nakasone, overseeing both the NSA and the U.S. Cyber Command.
The Importance of Diversity and Inclusion in Building a Strong Tech Team
Imagine a tech team where every member feels heard, valued, and empowered. Think of a workspace filled with individuals from diverse backgrounds, each bringing their unique perspectives to the table. Among them is Maria, a talented product designer who grew up in a small town, navigating a world dominated by a singular narrative.
However, her experiences, shaped by her cultural heritage and upbringing, give her a fresh outlook on problem-solving. As Maria joins this inclusive tech team, her ideas and creativity flourish. Collaborating with colleagues from various walks of life, they combine their expertise and viewpoints to create groundbreaking solutions that resonate with a diverse user base.
This short story exemplifies the power of diversity and inclusion in creating a better tech product. By embracing differences and fostering an environment where everyone’s voice is valued, we pave the way for remarkable innovation and growth. In this article, I’ll explore the benefits of diversity and inclusion in tech teams. I’ll provide insights into cultivating a culture of inclusivity that sets the stage for success in our ever-evolving tech industry.
Understanding Diversity and Inclusion in the Tech Industry
To truly appreciate the importance of diversity and inclusion in building a solid tech team, we must first understand what these terms encompass and how they differ.
Diversity goes beyond just demographic factors like race, gender, and age! It encompasses a broad range of experiences, perspectives, and backgrounds. Inclusion, on the other hand, refers to creating an environment where all individuals feel valued, respected, and empowered to contribute their unique insights and skills.
Unfortunately, the tech industry has historically struggled with lack of diversity and inclusion. Women, racial and ethnic minorities, and other underrepresented groups have faced significant barriers to entry and advancement.
However, acknowledging these challenges allows us to work towards creating a more inclusive tech community.
Think about it…
The benefits of diversity and inclusion in the tech industry are multifaceted and far-reaching.
By embracing gender diversity in the workplace, for instance, the tech industry can unlock its full potential and create a more inclusive and prosperous future.
When individuals from diverse backgrounds collaborate, they bring a wealth of different perspectives, ideas, and problem-solving approaches to the table. What you get as an inclusive organization is enhanced creativity, innovation, and out-of-the-box thinking.
Moreover, diverse teams are better equipped to understand and address the needs of various user bases, resulting in the development of more inclusive and accessible tech solutions.
By fostering a culture of diversity and inclusion, we create a more equitable and fair industry. We also unlock the full potential of our tech teams.
In the following sections, we will delve deeper into the current state and impact of diversity and inclusion in tech and explore the numerous benefits they bring to the table.
The Impact of Diversity on Tech Team Performance
Embracing diversity goes beyond ticking boxes. It is about creating an environment where individuals from different backgrounds, experiences, and perspectives can thrive.
Such diversity fosters an atmosphere of innovation, problem-solving, and collaboration. Research consistently supports the positive correlation between diversity and team performance. They highlight the advantages of diverse teams in driving business success.
Moreover, successful tech companies that prioritize diversity have not only achieved significant growth but also become industry leaders in creating inclusive cultures.
In the following sections, we will delve deeper into how diverse teams enhance problem-solving and innovation, examine the research supporting the correlation between diversity and team performance, and explore examples of tech companies that have successfully prioritized diversity on their path to success.
How diverse teams can enhance problem-solving and innovation
One of the remarkable aspects of diverse tech teams is their ability to excel in problem-solving and drive innovation. When individuals from different backgrounds, experiences, and perspectives come together, they bring a rich tapestry of ideas and insights that can lead to breakthrough solutions.
Diverse teams have the advantage of approaching problems from multiple angles. Each team member brings their unique knowledge and expertise, which expands the range of possible solutions.
Different perspectives can challenge conventional thinking and spark creative approaches to tackling complex issues. By embracing diversity, tech teams can tap into a wellspring of creativity and innovation that would be otherwise inaccessible.
Moreover, diversity encourages healthy debates and discussions. When you have a mix of voices, opinions, and ideas in the room, it sparks critical thinking. Different perspectives challenge the status quo, helping to uncover biases and blind spots that might otherwise go unnoticed. This inclusive approach to problem-solving creates an environment where everyone’s voice is valued, fostering a supportive and collaborative team culture.
The positive correlation between diversity and team performance
Numerous studies and research have demonstrated the positive correlation between diversity and team performance in the tech industry. A 2019 study by McKinsey & Company found that companies in the third quartile of gender diversity were more likely to achieve above-average (25% more) profitability than their less-diverse counterparts. The research highlighted that diverse teams tend to foster a more inclusive and innovative environment, driving business success.
Another study published in the Harvard Business Review showed that diverse teams outperformed homogeneous teams in decision-making and problem-solving. The research found that companies with various teams solve problems faster. HBR found that diverse teams were better at considering different perspectives, processing information more carefully, and avoiding groupthink. This ability to leverage diversity led to more effective and successful outcomes.
Furthermore, several studies have revealed that diverse teams are more likely to produce higher-quality products. Teams with greater gender diversity demonstrated a higher level of attention to detail, problem-solving capacity, innovation, improved communication, and a more customer-centric focus. These factors contribute to enhanced product development and customer satisfaction.
Successful Tech Companies That Prioritize Diversity
Several tech companies have recognized the importance of diversity and made it a priority in their organizational culture. These companies have cultivated a diverse workforce and have also experienced ignificant growth and success as a result.
One notable example is Microsoft, which has implemented initiatives to increase diversity within its workforce and leadership positions. The company actively seeks to create an inclusive environment where individuals from all backgrounds can thrive.
One of their noteworthy programs is its Diversity and Inclusion Program. This program empowers employees to become advocates for diversity by providing them with training, resources, and opportunities to engage in initiatives that promote inclusivity. These champions are pivotal in fostering a culture where everyone feels valued and respected.
Microsoft also recognizes the importance of supporting underrepresented groups in tech. Their DigiGirlz program aims to inspire young girls to pursue careers in technology. Through workshops, mentoring sessions, and immersive experiences, Microsoft encourages girls to explore the possibilities in the tech industry, breaking down barriers and fostering a more diverse talent pipeline for the future.
Microsoft’s dedication to diversity and inclusion extends to their leadership positions as well. The company has set ambitious diversity goals for its executive team and holds leaders accountable for progress in achieving these goals. By prioritizing diversity at the highest levels of the organization, Microsoft sets a powerful example for the entire industry.
Google has also made significant efforts to foster diversity and inclusion within its workforce. The company has implemented programs to increase the representation of underrepresented groups, such as women and people from diverse racial and ethnic backgrounds. Google also provides resources and support for employee resource groups that promote inclusivity and celebrate diversity.
Google is widely recognized for its commitment to diversity and inclusion, both within its workforce and beyond.
One notable program led by Google is the “Made with Code” initiative. This initiative aims to inspire young girls to pursue careers in computer science and close the gender gap in tech. Through partnerships with organizations, coding projects, and events, Google empowers young girls to explore coding and technology, nurturing their passion and potential in the field.
By implementing these diversity and inclusion programs, both internally and externally, Google strives to create a more equitable and inclusive tech industry. The company recognizes that diverse perspectives and experiences are essential for driving innovation and solving complex problems.
Salesforce, a leading cloud-based software company, has been vocal about its commitment to diversity and equality. The company takes equality as a core value and focuses on building a culture of inclusion, and provides resources and programs to support underrepresented groups in tech. As a result, Salesforce has experienced remarkable growth, both financially and in terms of its reputation as an inclusive employer.
Salesforce is renowned for its commitment to diversity and equality. The company has established robust diversity programs, including initiatives focused on gender equality, racial and ethnic diversity, and LGBTQ+ inclusion. By prioritizing diversity, Salesforce has created an inclusive culture that fosters innovation and drives business growth.
Adobe: Adobe recognizes the importance of diversity in driving innovation and creativity. The company actively supports employee resource groups, provides diversity training, and offers mentorship and sponsorship programs to promote diverse talent. Adobe’s focus on diversity has contributed to its reputation as a leader in design and creativity.
Tackling Common Challenges to Diversity and Inclusion
We know it! Creating a diverse and inclusive tech team is not a one-time effort. It requires ongoing commitment and the implementation of best practices. Let’s explore common challenges and strategies for building and sustaining a diverse and inclusive tech team.
Monotonous job pool
Picture this: you’re searching for diverse talent, but the applicant pool seems a bit monotonous. Don’t worry! Companies can take proactive steps to expand the pool.
You can team up with organizations that focus on underrepresented groups. You can cast a wider net through targeted recruitment efforts. Employ graduates from programs like these. You can even give your job descriptions a makeover to make them more inclusive and appealing to a diverse range of candidates.
Bias in recruitment and hiring processes is a sneaky little devil that we need to address. But it’s not an intractable problem. How about implementing blind resume screening or blind hiring?
It’s like putting on a blindfold and evaluating resumes solely based on qualifications, removing personal information that might unconsciously trigger biases.
Structured interviews and clear assessment criteria also play a role in leveling the playing field and ensuring fair evaluations.
Education is key
Ongoing training and education are essential for promoting diversity and inclusion. Companies can provide diversity and unconscious bias training to all employees, giving them awareness of their biases and fostering a culture of inclusivity.
Employee resource groups and mentoring programs can also help create spaces where individuals from underrepresented groups can learn, grow, and be supported.
Building a culture of respect
Nurturing a culture of respect, collaboration, and open communication is vital. Why not encourage your team members to embrace diverse perspectives, challenge biases, and engage in meaningful discussions? But remember, it all begins from the top of the hierarchy!
Foster an environment where everyone feels valued, respected, and empowered to contribute their unique ideas and insights. Finally, celebrate achievements and promote teamwork to create a sense of belonging.
We have explored the multifaceted benefits that diversity brings to the table, from enhanced creativity and innovation to a deeper understanding of diverse user needs. Inclusion fosters an environment where every team member feels valued, empowered, and able to contribute their unique perspectives and talents.
As we move forward, organizations must prioritize diversity and inclusion efforts. It’s not just about ticking boxes or meeting quotas—it’s about creating a culture that embraces diversity as a driver of success. By implementing inclusive policies, practices, and strategies, organizations can unlock the full potential of their teams and contribute to a more inclusive tech industry.
Looking ahead, I envision a future where diversity and inclusion are not just buzzwords but integral components of the tech industry’s DNA. This future holds the promise of more incredible innovation, breakthrough solutions, and a more accessible and equitable tech ecosystem for all.