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04 April 2020

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Th coronavirus pandemic has brought the world to a standstill. The worst affected segment in this crisis unarguably is the micro, small and medium enterprises (MSMEs).

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Image Source :economictimes.comm
With businesses shut off and fixed costs dangling over them, SMEs and MSMEs are unable to handle the situation. While this section of the business ecosystem is not new to surprises and shocks, thanks to demonetisation and the changes brought when the new Goods and Services Tax (GST) policy was introduced, COVID-19 has nonetheless brought a unique predicament in the lives of entrepreneurs of small and medium businesses.

Unknowns in COVID

When we think about COVID-19, there are more questions and unknowns than there are knowns and answers. The scenario that I worry about, particularly when it comes to MSMEs, is what I call a mass extinction. The coronavirus outbreak is a shock to the entire system of society. And typically, these enterprises are very fragile. They don't have the resilience of a larger company, and are therefore greatest at risk. So, if this thing drags on for a long time, rwcand if we don't do enough to throw a lifeline to them, keep them alive, and then help them adapt, more than half of them will die and won't recover. This could be a catastrophe for all.

Steps to take

A lot of irresponsible behaviour is seen in firms where they are not enforcing hygiene measures like not insisting that everyone wears a mask. Japan and South Korea were able to slow down the impact of coronavirus not by some crazy lockdown, but by simply implementing some good social practices, like 100 percent use of masks. We need to find the most useful ideas to combat this situation — like recognising your most loyal customers and asking them if they will give you advances. In addition, entrepreneurs also need to figure out what the world needs and not what they used to produce. 

MSMEs are very important for the Indian economy, and I their contribution more towards employment than GDP. There are about 70 million MSMEs which employ one in 10 people. And they comprise more than 95 percent of all businesses. They collectively employ 110 million people.  COVID-19 is a giant reset for most of the economies including India.

Recovery

We were already worried about 4.5 percent and now we're looking at the negative realm. Also, we don't know how fast the economy can and will recover because we don't know the behaviour of this virus.  All said and done, there's no doubt that without the SME sector flourishing, India cannot have a balanced economy or a real and sustainable growth. And what we had in the ‘pre-COVID’ era is often called a missing middle. India either has a very large number of small enterprises which are self-employed, or have less than 10 employees, or we have a few really big firms like the Tatas and Reliance. India is a very strange economy for us.  Almost no other large economy has midsize firms that are completely missing. But let's use this crisis as an opportunity to get many more entrepreneurially-minded people thinking about opportunities. Furthermore, we need to focus less on what the government can do and should focus more on what we can do. 

Digital World

The digital world is already making it possible for all of us to work from home. By maintaining basic hygiene and a healthy lifestyle, we can indeed keep the virus and work for the entire globe by working digitally.

In Sum

Let us define a digital identity for ourselves and move towards great success, using even corona as just a challenge and not a stumbling block.

01 April 2020

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Right from the beginning of the year 2018, you could almost say that there is no doubt on the impact AI will have in the upcoming years IDC released some reports that state hat the adoption of cognitive systems and AI will result in increased revenue worldwide from nearly $8 billion in 2016 and  may become more than $47 billion in 2020.
https://www.digitalmarketing.ac.in/aidigital.jpg
Image Source : helloecutter.com


It is important that we examine the current adoption level of AI, especially given the integration of AI by early adopters into the martech and sales-tech stack.
AI adoption
Due to AI, sales and marketing are becoming very scientific which is only increasing all the time. It is making a difference to the day-to-day life of marketers and sellers, by presenting them opportunities to be in sync with their customers and build meaningful conversations.
Marketers cannot rely on the mass marketing messages anyone and customers expect a personalized experience more than ever. Due to this, there is an increasing adoption for AI-powered ABM solutions, predictive lead generation tools, sales intelligence tools, conversational engines and more.
Tech giants and those into marketing and technology have already heavily invested in AI. In fact,  $26 - $39 billion was spent on AI in 2016 as per McKinsey.  Marketing qualified leads (MQLs) are not relevant anymore. People in sales are beginning to look at accounts more than leads. Now, there marketing qualified accounts (MQAs), who are equipping marketers with effective information on whether a particular account qualifies to get into the ABM (Accounts Based Marketing) cycle or not.
Sales professionals who know AI have gained a competitive edge over others, thus ensuring they don’t spend time on accounts that are not sales-ready. Solutions for marketing and sales have made it easier for B2B marketers and sellers to prioritize target accounts based on their buying intent and product fit using AI. This gives them a complete picture. People who took AI seriously earlier are the ones who are gaining the most competitive advantage from AI. Many already leveraging AI, machine learning and automation to provide customers with highly personalized web experiences (at scale) to steal a lead in the marketing space using AI.
Who are those who drive AI adoption and what we could expect?
With personalized conversations and relevance being the need of the hour, many mature organizations are driving the use of AI adoption. More and more tech companies, communication companies and financial services organizations are expected to join in soon.
It might take a few more years for organizations to go take full advantage of AI. The image below shows this to us. 
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AI is all set to go mainstream and become omnipresent. For, AI is here and its use is only increasing all the time. 

Ref :


27 March 2020

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The digital world has certainly made education much more accessible to all. There are 450 Ivy League courses we can take online right now for free
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We know these schools are among the most prestigious colleges in the world.
Sitting at home, we can do these easily. One could easy get certified from Brown, Harvard, Cornell, Princeton, Dartmouth, Yale, and Columbia Universities, and the University of Pennsylvania for free.
These schools are  placed in the top fifteen of the U.S. News and World Report national university rankings.

These schools are highly selective and extremely hard to get into. These universities are now providing online courses across multiple online platforms. The best thing is these are free. These courses are know as MOOCs or Massive Open Online Courses.

So far,  500 courses have been created, of which around 450 are still active. Class Central has made a collection of all these, which we can explore below. These courses have been split into the following categories
  • Computer Science
  • Data Science
  • Programming
  • Humanities
  • Business
  • Art & Design
  • Science
  • Social Sciences
  • Health & Medicine
  • Engineering
  • Mathematics
  • Education & Teaching
  • Personal Development
We can also see Class Central’s collection page for these schools. These gets updated automatically as new courses are added. We can then subscribe to receive updates by clicking the blue “follow” button there.
Some of the Coursera courses are a bit harder to access, so we can see  the 30 actionable tips to stay focused.
We think the digital era has certainly made education completely global and accessible so request everyone to make the maximum use of it.
Stay locally and get educated globally is the mantra of the current digital era. We all need to make the maximum use of this.

Essentially, those that give certification online are


Other than these, there are also many other courses we could explore and these are listed below
List of Online Study Material/Resources in Open Access 
S. No. Name of Online Resources Website Address 
1 National Digital Library of India 
(NDL) 
https://ndl.iitkgp.ac.in/ 
2 Directory of Open Access Journals 
(DOAJ) 
https://doaj.org/ 
3 Directory of Open Access Books https://www.doabooks.org/ 4 National Programme on 
Technology Enhanced Learning (NPTEL) 
https://nptel.ac.in/ 
5 Shodhganga-a reservoir of Indian 
theses 
https://shodhganga.inflibnet.ac.in/ 
6 e-PG Pathshala https://epgp.inflibnet.ac.in/
7 Open Access Thesis & 
Dissertations 
https://oatd.org/ 
8 Open Knowledge Repository - 
World Bank 
https://openknowledge.worldbank.org/ 
9 Legal Information Institute of India http://liiofindia.org/ 10 The OAPEN Foundation http://www.oapen.org/content/ 11 PubMed Central (PMC) https://www.ncbi.nlm.nih.gov/pmc/?cmd=search 
&term= 12 Project Gutenberg https://dev.gutenberg.org/
13 HighWire https://www.highwirepress.com/
14 Southern Connecticut State 
University 
https://libguides.southernct.edu/openaccess 
15 AGRIS http://agris.fao.org/agris-search/index.do
16 ScienceDirect Open Access Content https://www.sciencedirect.com/#open-access
17 AidData https://www.aiddata.org/
18 ILOSTAT https://ilostat.ilo.org/
19 Oxford Open https://academic.oup.com/journals/pages/open_a 
ccess
20 Project Euclid https://www.projecteuclid.org/librarians/lib_oa
21 SpringerOpen Journals https://www.springeropen.com/journals
22 Taylor & Francis Open Access https://www.tandfonline.com/openaccess/openjournals
23 Cambridge University Press https://www.cambridge.org/core/what-we-publish/open-access

We can see that in the online world, many things are available and  free and all that is required is one’s passion.




Reference : https://www-freecodecamp-org.cdn.ampproject.org/c/s/www.freecodecamp.org/news/here-are-380-ivy-league-courses-you-can-take-online-right-now-for-free-9b3ffcbd7b8c/amp/



20 March 2020

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Our website is our hub for conducting an online business as this is where most of the online sales transactions take place.
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Image Source : techwyan.com
For making it effective, we need to do the following
1.     Build a customer-focused website navigation for ease in understanding our content.
We need to understand that no one wishes to spend too much time understanding what the website is trying to say. We must therefore work on making everything easy to understand
2.     Create great customer-focused content that helps our audience in the purchase decision making process
It used to be said that customer is king and in the context of websites, content is king. We must ensure we make both king.
3.     Set many  calls-to-action in the website that entices our audiences to subscribe, download, contact us or make a purchase
We need to entice the customer to make a purchase and for that the best technique is setting up many places where he/she could make their decision.
4.     Make great visuals like large action buttons
Visuals have a great impact. Create great ones that attract customers.
5.     Help our prospects in their budgeting process by making it easy for them to understand our pricing schemes with products clearly categorized according to price rangesEnsure our customers can choose as per their budget. Have all products in different ranges shown well.
6.     Provide access to lead generation in both our main content and sidebars

Access to all our products and choices needs to be present in both the main region and side bars.
All of this will ensure our website is our online marketing agent and works beautifully to generate more and more leads.

13 March 2020

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The world is now digital no we definitely need to be present and visible here to build our brand.
https://www.digitalmarketing.ac.in/visibledigitally.jpg
Threat or opportunity?

Many believed some time back that the rise of digital technology would mean the decline of existing firms due to the rise of virtual organizations. 

This is not all true.

This has not happened. If that was the case, why would companies hire people and why would people want to work in an office? We have to understand this to make complete use of it.

The only way we can do this by converting it into an opportunity.

Make it an opportunity

We need to understand

a.       The customer needs it

Most people operate digitally now so if we don’t get into this world, we lose the customer. This is a reality.
One must adapt our practises for the customer. This makes us relevant and current. People will choose others if we do not do this.

b.      Be the driver
Be an enterprising entrepreneur who sets an example to others. We need to design
processes that are completely tested. Never forget this for it is only then that you will know what is happening.
c.       Figure out the right process
Finding the right digital structure can be confusing.  We must understand the process the new technology is to play in our business. 
d.     Find out the why

We need to ask ourselves why we wish to use digital technology. The answer should be very clear.

As digital technology is new, even that simple rule can be confusing.

Everywhere, we must add value.

e. Finalize the technology

We need to understand the technology completely to finalize it. Once finalised, we need to get the team in place with all the required skills.

f. Understand the changes

If we expect to innovate with technology, we will have to learn new skills. This should be learnt completely as we may end up missing something unless we understand the whole picture.

g. Create good content

We must create relevant and related content for the reader. This must be created well after understanding the customer.

In Sum

This is an important decision. We must take it seriously.

We need to enter this world NOW to remain successful

12 March 2020

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Seminar marketing is usually a must for financial advisors. Now, despite the rise in digital marketing, many advisors still have a plan to host live events. After all, seminars are a good opportunity to showcase expertise and build relationships. We show you nine best practices here.

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Image Source : modelfa.com

Every advisor usually faces the same questions. Will it be worth the time and investment? What’s the best way to go about it? Which details make the difference — and which ones don’t matter?

Unfortunately, finding reliable answers to those questions is a challenge. Small studies (like this one by Advisor Websites) have reported that 50% of surveyed advisors have thought face-to-face events were the most effective way to connect with prospects. The problem is that the Advisor Websites study was done a decade ago with a very small group of advisors.
And yet, the last few years saw a proliferation in vendors selling services that make it easier for advisors to host live seminars. So, workshops must be working for some advisors!
In our own practice, we have seen advisors have tremendous success with live workshops (25 buying units, 80% appointment schedule rate, $2M in AUM added within a week) — as well as fail miserably (2 RSVPs, both of them no-shows). Like many other marketing strategies, seminar results are driven by a complex mix of the advisor’s presence, event promotion strategy, and a dash of luck.
However, there are several things advisors can do to improve the success of their seminars. 
As an advisor, we are responsible for important variables, from event targeting (audience, topic, time, location) to promotion strategies, pre-event relationship building, and post-event follow up. Testing those variables and getting them right takes time, and too many advisors give up on seminars before they have given themselves a fair chance to get good at it. 
We show you nine best financial advisor seminar practices.
1.  Define the objective of the seminar
This tip applies to all of your marketing efforts, and you would be surprised at how many financial advisors skip it. 
It is not enough to go into a seminar with the goal of adding a certain amount of AUM, or scheduling a certain number of appointments. The problem with these goals is that they don’t help you plan a successful event. 
Instead of focusing on us, we could outline our objective for the event using this prompt: 
“At the end of the workshop, I want attendees to do this: _________________.”
Notice that this prompt is focused on the audience. It also requires us to think in actionable terms. After all, the goal of any marketing is to change people’s behaviour. If we can verbalize the change or action you wish to see from our audience, we can then align the presentation to naturally lead your prospects there. 
2.  Know the audience – then choose event logistics
A solid understanding of the audience will help us define the topic of the seminar, the promotion strategy, and even event location and start time. 
There are some general guidelines
  • Tuesdays, Wednesdays, and Thursdays work well for seminars. 
  • Monday and Friday are to be avoided
  • Avoid scheduling events on the day following national holidays (Memorial Day, Labour Day, etc.) 
  • The 5-6 weeks between Thanksgiving and New Year is not too good a time to host a seminar, as people tend to focus on family and holidays. If we are planning to use Facebook ads to promote the event, we will also have to deal with holiday price surges. Apart from this, best practices for logistics will vary by audience, location, and advisor. 
For seminars that target seniors, 4:00-4:30PM start times work best. For Boomer-focused events, 6PM – 7PM start times are more appropriate. For events that face prospects, we recommend that we stay away from daytime scheduling (some research has shown that conversion costs could be 30% higher for a daytime event than for an evening event). 
Consider location options carefully. If we wish to host  a seminar outside the office, there are two main choices for workshop location. We can opt to host a seminar in a library, local college, or a community center, which could make it feel more “educational”. We could also pick a food-centric venue like a restaurant, coffee shop, winery, brewery and so on.
Each option has its pros and cons. Educational seminars typically have a lower response/show-up rate. They do however make up for it with stronger audience engagement, as attendees have come to learn. Dinner seminars tend to have higher response and show-up rate, but lower engagement during the seminar (even despite a more intimate feel and the trust-building dynamics of breaking bread together).  We need to think about our message, budget, and personal fit before you make our choice. 
3.  Scout out the location
When it comes to these seminars, location is very important. We need to to walk through the entire space, from the parking lot to the room itself. Make note of any special directions that may be required. Some locales are straightforward. Others come with tricky parking or less-than-obvious navigation. 
Be cognizant of the time that your event is scheduled for — and match your walkthrough to experience the facility in the same conditions as your attendees will. Will they have an easy time finding the event? Do you need to post directions or signs? Take notes and ask the facility staff about what’s allowed. 
4.  Build a plan to promote the event
The outcome of a seminar is driven in large part by the quality of attendees. And, if you want great prospects in the room, you need a plan to reach them and give them a compelling reason to attend! 
The earlier strategy for promoting financial seminars had relied heavily on direct mail. While direct mail is still relevant, response rates hover between 1% and 2% (which is light years away from the 5%-6% response rates of the past). Advisors have had success with mailers that stand out (hand-addressed envelopes, wedding-style invitations, etc.) However, those eye-catching extras tend to be more expensive. We need to evaluate the lifetime value of an ideal client against the quality of our typical prospect and our budget to make a balanced choice that makes sense for you. 
Even if we plan to use direct mail, we could consider multiple channels to expand our reach and improve attendance. Here are some options.
  • A facebook campaign could be run. Facebook advertising can be finicky, but the recent iterations of the platform allow you to fine-tune your ad’s settings, reach, and audience. Start small, test different visuals and headlines, and monitor ad performance closely. Advisors can connect the ad directly to a sign-up form, or they can build a simple landing page to showcase the event’s date, location, topic, and key value points (i.e. reasons why someone should attend). 
  • Send workshop announcement to your email list. Keep in mind that a sequence of 2-3 emails that highlights different value points of the seminar will have a better chance of building your attendance list. For example, if we are hosting a workshop on preparing for retirement, one email could highlight taxes in retirement, another could address paying for healthcare, and the third one could speak to the importance of estate planning. 
  • Call the prospects we know of and invite them to attend the seminar. This may not be practical for all, so we need to consider our resources and make the choice accordingly.
  • Announce the event on your social media. Social media posts are easy to share, especially if your posts add value and focus on the pain points that are highly relevant for your audience. 
  • Consider adding event announcements to the signature block of your email. Email signature is an underrated but valuable piece of marketing real estate. Change it up periodically to promote upcoming events!
  • We could reach out to our active referral partners and ask them to promote the seminar to their lists. Offer to provide the email they can use to make it even easier on them. 
5.  Confirm attendance — and stay in touch
When someone registers for a seminar, plan to send a minimum of 3 emails: one immediately upon registration, another one day before the event, and the third one on the day of the event. If the prospect registers for an event far in advance, our sequence should include 2 additional emails to be sent 10 days and 5 days before the event. 
In addition to these automated emails, it’s a best practice to also:
  • Call each prospect within 24 hours (sooner the better). A personal phone call can solidify that they have made a good decision. It will also make the seminar more “real” in their minds, which can lead to better attendance. Definitely, mention any subsequent communications the prospect should expect. It helps prepare them for what’s next while also building trust.
  • If time permits and if you get the prospect’s mailing address, send them a physical letter. It will serve as a tangible reminder of their commitment to attend. 
  • Call to remind them 24 hours before the event. Highlight that you have saved them a spot and that you look forward to meeting them. 
6.  Make it professional
A seminar is a great opportunity to show us as a credible, authoritative figure. Here are some ideas to raise your perceived expertise (some are free, others require an investment). 
  • Have a team member introduce you before you get up to speak. This requires minimal prep and doesn’t cost anything at all — and yet it can be very effective in setting the stage.
  • Consider getting a banner with your branding. It will look good in pictures and instantly dress up and elevate the room. A simple retractable stand-up banner can cost you as little as $100, is easy to store and transport, and will last for years. Any printshop will have some options to offer. Online, you can look at Displays2Go, Ace Exhibits, and Vistaprint
  • Professionally printed handouts and brochures make for nice take-aways. We need to work on getting several quotes from local and online printers, and be cautious with ordering large quantities to bring the per-piece pricing down. We don’t want to get stuck with thousands of pages of collateral if we decide that they need an update 6 months down the line. 
Finally, if you are planning to use a presentation deck, it’s a good idea to invest in a polished set of slides. The deck does not have to be  stunning to be effective. Opt for a clean look given by well-chosen text and visuals, and clear branding. If we don’t have internal resources to handle deck layout and design, we can hire a freelance designer on a platform like UpWork. Be sure to get clear quotes and estimates before proceeding!
7.  Have a plan to maximize your time with prospects
The time we spend in the seminar room is precious — from the moment we first walk in, and up until the last prospect walks out. We need a plan to maximize every minute. A checklist will help 
  • Use a checklist to double-check all supplies beforehand. We could keep a special box for all seminar-related materials and supplies, organized and ready to go
  • Bring extras. That goes for batteries for the clicker, pens, business cards, note pads, and a flash drive with a copy of your presentation
  • Greet prospects as they come into the room. Many advisors  prefer to escape into a conversation with a co-worker (checking email on a smartphone is another popular distraction). Resist those temptations and spend the time with the audience instead. 
  • Give each team member a well-defined job to do. That will help us set expectations and make the seminar more productive for everyone
  • Make a plan for getting you out of conversations that don’t go anywhere. Unfortunately, seminars often have one or two attendees that are happy to chat with you for an hour — even when it’s clear that they are not a real prospect. Brainstorm with the team on some polite ways to wrap up the conversation and give you the chance to connect with others who have questions
  • Decide how you will deal with disruptions. Occasionally, we may encounter an attendee who comes in just to throw a wrench into your presentation. We need to be prepared to remain calm, de-escalate the situation, and move on.
8.  Commit to post-event follow up
As we wrap up the presentation, we and our staff will be inviting prospects to schedule the next step (usually a one-on-one appointment). 
Our experience tells us that the show-up rate will be higher the sooner you can schedule the appointment. One to two weeks after the event is a brief enough period where the seminar will still be fresh in the prospect’s mind. Go much beyond 3 weeks, and we may see a drop in attendance and interest. So, it’s a good idea to clear our schedule beforehand to make sure that you will have sufficient open time to accommodate prospect meetings.
Keep in mind that you will need a separate follow-up plan to address each of the following 3 scenarios:
  • The prospect attended the seminar and scheduled an appointment
  • The prospect attended the seminar but didn’t schedule an appointment
  • The prospect RSVP’ed but did not attend the seminar
Be sure to add any new contacts to your CRM system and tag them properly to allow for follow-up email sequences, drip campaigns, and future event outreach. 
9.  Have a plan for project-managing the event
As we can probably see by now, putting on a financial advisor seminar is a big project. As such, it can benefit from a dedicated project manager. We need someone who is committed to managing all the logistics, from venue to supplies, promotion, and post-event follow up. 
The best place to start is by making a complete list of everything that must be done. From there, you can assign responsibilities and set deadlines. We will also need a plan to supervise the preparation. This is the process that forms the foundation of every successful workshop. 

Keep in mind that the first workshop is likely to be more labor-intensive than any subsequent events. Be sure to save any checklists, scripts, emails, and any other collateral for future use. 

We can see this is really not all that difficult. As they say, anything which is done is worth doing well.

We hope you found the above useful and would love your views on this article

This article was originally published at ModelFA.com


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