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How Video Marketing Is Changing B2B & B2C Marketing

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There used to be a time when the internet was all about static images and slow websites. Fast forward to 2020, and you get to see an altogether different internet experience with video dominating the online landscape. Today, video has become the foremost medium for brands to spread the message across, and video marketing has become the de facto choice among online marketers.

This development is making video the preferred content-type for online marketing and is getting used by both B2B and B2C marketers.

Benefits Offered By Video Marketing

Video may have been around for a while, but there are businesses that are still plagued by doubts about getting video marketing implemented. Here we look at the benefits video offers to both B2B and B2C marketers:

  • Increases Brand Awareness: The best way to grow your customer base is by reaching more people who recognize who you are and what you do – without getting lost in the crowded marketplace. Video precisely helps the brand to convey their core values and increase your exposure to potential customers through informative and entertaining videos that allow for improved brand recall.
  • Immersive Experience: Video marketing combines images, brand messaging, music, and script to tell a story. This creates an all-round experience that lowers the barrier between the brand and its audience. A video lasts a few seconds and gives the audience a multi-dimensional idea about the brand and its attributes which is lacking in 2-D advertising. Videos allow a brand to tell a story and deepen the connection with existing and potential customers.
  • Return on Investment: A great majority of online marketers agree to the fact that video performs better than any other content in converting the audience. This supported by research that suggests that 80% of video viewers recall brand-specific video advertisements and 46% among them took action based upon the brand message in the video.
  • Cost-Effective Solution: When it comes to online marketing strategies, a paid search can be effective but comes with a high price tag. On the other hand, video advertising on YouTube is known to cost less than a dollar per view. On other platforms like Facebook and Instagram, video advertising will cost you pennies. This makes it a cost-effective solution that does not require a substantial marketing budget.

B2C Video Marketing

Video marketing is no doubt changing the face of B2C marketing; let’s take a look at how:

  • Customer Review Videos: Consumers today no longer believe in advertising; rather, they go by reviews and testimonials by satisfied customers. Earlier written reviews used to get the job done, but not any longer. The audience today is more geared towards watching video testimonials on YouTube made with YouTube intro maker, which offers the necessary social proof for a skeptical audience.
  • Product Based Videos: Product videos that showcase the product do not really serve the purpose anymore. Today videos have to be created with an angle that shows how the product can get integrated into a lifestyle. Brands have to show how a brand can improve the life of the customer, and videos are the best medium to convey that message.
  • Sales and Discount Videos: A brand that is planning for a big sale would be best served by creating video content that gets the message quickly across to the targeted audience. Such videos are known to have to best impact if they are longer than 2 minutes, which is considered the optimum length.
  • Influencer Marketing: This is all about partnering with a known influencer to create videos that would have an eager and available audience for easy consumption. This one of those strategies that is known to outperform others. This is gaining traction due to a simple reason that it works both ways, it improves the influencer’s standing among his audience, and the brand gets to create content that is attention-worthy.
  • Unboxing Videos: Introducing a product into the market is best done through unboxing videos. This involves an element of influencer marketing wherein a vlogger or YouTuber is given the privilege and exclusive access to a new product. It is quite a popular practice on YouTube with close to 90,000 people doing unboxing every month. There is a keen set of audiences that look forward to these exclusive reviews.

B2B Video Marketing

It is a notable fact that B2B companies were late to the video marketing bandwagon compared to B2C companies who were rather quick to exploit the available opportunity. Let’s see how video marketing is changing B2B marketing:

  • Sales Funnel Based Videos: This can be especially helpful in driving long-term sales cycles when they are implemented with careful consideration of the big picture. For instance, there can be videos made for each stage of the funnel – top (awareness), middle (conversions), and bottom (customer retention). These videos must be made with a suitable outro maker allowing the audience to continue watching videos associated with the brand.
  • Live Videos & Webinars: This is a great way for a B2B company to connect with its core audience. It is one of the most effective ways to get the message about a product or service in a video format. Next, there are webinars, which are by far the easiest to produce, by using tools like Zoom, you can record a presentation and convert it into a webinar replay. These videos can be then added to YouTube or your website.
  • A Blog to Video: This is mainly done by companies which have a long-running blog that serves for ready-made content for business videos. They would recycle their old posts and come with an interesting set of videos that can readily gain an audience. The brand would then upload these videos on YouTube and other social platforms like LinkedIn to reach a targeted audience who would possibly gravitate to the brand after watching these videos.   

Conclusion

There is no doubt about the fact that video marketing is changing the way marketing is getting done. If a brand is not doing video marketing, it is missing out on a lot of emerging opportunities. It is estimated that by 2021, video is going to make 80% of all internet traffic. Hence it becomes imperative for all brands to have a coherent video marketing strategy in place as the future belongs to video.

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100 Start-ups Join WEF’s Technology Pioneers Community in 2021 Cohort

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The World Economic Forum announced today its 2021 Technology Pioneers, young and growing tech companies taking on top global concerns with innovative technologies and business models. From artificial intelligence (AI) to fintech, the 2021 Tech Pioneers cohort is using new tech to protect the climate, improve healthcare and much more.

“The 2021 cohort of Tech Pioneers includes many future headline makers at the forefront of their industries,” said Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. “These companies show great potential to not only shake up their industries but offer real solutions to global problems. They’ll bring great value to the World Economic Forum’s mission of improving the state of the world with their participation in the Technology Pioneers community.”

This year’s Technology Pioneers are emerging leaders in a wide range of industries that span healthcare, cleantech, AI, logistics and more. While at the cutting edge of their industries, many Technology Pioneers are also addressing global societal issues by using new tech to improve education options, address climate change issues and others.

Ceretai, for example, is a Technology Pioneer helping media companies uncover stereotypes and representation gaps in their content through automated diversity and equality analysis. Banyan Nation is using technology to support circular economy climate solutions in India. Century Tech is supporting personalized education options through combined innovations in learning science, AI and neuroscience.

This year’s cohort has the highest gender diversity yet, with over 30% of companies led by women. There are also 26 economies represented this year, with the United Arab Emirates, El Salvador, Ethiopia and Zimbabwe represented for the first time. All the 2021 Technology Pioneers are bringing great innovation to their regions.

FlexFinTx, for example, is building self-sovereign digital identities to help the over 400 million Africans that lack proper forms of identification. Meanwhile, Cambridge Industries is addressing climate change by developing sustainable city infrastructure to support waste-to-energy products.

Following their selection as Technology Pioneers, this year’s companies will join an impressive group of alumni that include many household names, such as Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.

The 2021 cohort will also be invited to participate in World Economic Forum workshops events and high-level discussions throughout their two years in the community.

The 2021 Technology Pioneers include:

Africa

  • Cambridge Industries, Ethiopia: Innovating next-generation urban infrastructure through sustainable city parks
  • FlexFinTx, Zimbabwe: Building the next generation of identity management
  • Kuda Technologies, Nigeria: Providing Africans with access to credit and free banking services
  • Moringa School, Kenya:A workforce development platform serving African students
  • mPharma, Ghana:Building good health in Africa through technology-driven healthcare
  • Sokowatch, Kenya: Offering same-day delivery and working capital to African retailers

Asia Pacific

  • AI Medical Service, Japan: Developing the world’s first endoscopic AI for gastric cancer
  • Aspire, Singapore: Banking South-East Asia’s internet economy
  • Avant Meats, China: Biotechnology for healthy, tasty meats made sustainably without animals
  • Banyan Nation, India: Driving circular economy via technology-driven informal recycler integrative technology solutions
  • Black Lake Technologies, China: Cloud-based collaboration software empowering manufacturers with real-time data
  • Cinnamon, Japan: An AI platform to drive digital transformations
  • Civic Ledger, Australia: Helping the world reduce its water footprint
  • CredoLab, Singapore: Developing bank-grade digital credit scorecards built on mobile device metadata
  • DoBrain, Republic of Korea: Game-based learning to unlock and optimize children’s potential
  • Equota Energy, China: AI intelligence-based energy optimization, maintenance and carbon management company
  • HiNounou, China: Using AI to promote healthy ageing and intergenerational solidarity
  • Learnable, China: Interactive and explainable AI solutions on less data
  • MakinaRocks, Republic of Korea:Making industrial technology intelligent and delivering it as transformative solutions
  • mClinica, Singapore:Building the largest digital network of pharmacies in South-East Asia
  • Minieye, China: Using cutting-edge computer vision technology to lead automotive industry change
  • Ocean Protocol, Singapore: Unlocking the value of data – a new asset class
  • Praava Health, Bangladesh: A healthcare platform providing high-quality digital health and in-clinic experiences
  • SandStar, China: Providing leading computer vision technology for retail
  • Shannon Technology, China: A language-understanding intelligent service powered by advanced AI technology
  • Standard Energy, Republic of Korea:Manufacturer of vanadium ion batteries specifically for energy storage systems
  • Videonetics Technology, India:AI and deep learning-powered video computing platform development
  • Zyllem, Singapore:Software-as-a-service solution for logistics network management

Europe

  • Aave, United Kingdom: Built Aave Protocol, an open source and non-custodial liquidity protocol
  • Adhara, United Kingdom: Providing liquidity management and international payments for decentralized financial networks
  • Avrios, Switzerland: Empowering companies to own the true cost of mobility
  • Carbios, France: Green chemistry company providing an industrial solution to PET recycling
  • Century Tech, United Kingdom: Developing AI-based learning technologies
  • Ceretai, Sweden: Media diversity partner supporting companies with diversity strategies and insights
  • CloudNC, United Kingdom: Making manufacturing autonomous
  • Enapter, Italy: Providing green hydrogen technology through anion exchange membrane electrolyser manufacturing
  • EnginZyme, Sweden: Developing the definitive technology platform for sustainable chemical production
  • Greyparrot AI, United Kingdom: Waste recognition to increase transparency and automation in waste management
  • Hydrogenious, Germany: Enabling high-performing hydrogen value chains globally.
  • Parity Technologies, United Kingdom: Employing the blockchain pioneers who launched Ethereum, now building Polkadot
  • Polymateria, United Kingdom: A new scalable solution for the plastic pollution pandemic
  • Powell Software, France: Digital workplace solutions that improve the employee experience
  • PQShield, United Kingdom: Protecting information for the quantum era
  • Riaktr, Belgium: Developing software enabling telecom employees to make better data-driven decisions
  • Senseon, United Kingdom: A full-stack cyber-defence capability for the future, today

Latin America

  • Algramo, Chile: A platform connecting smart-reusable packaging with internet-of-things dispensers
  • Fondeadora, Mexico: Eliminating the inefficiencies related to the traditional banking system
  • Hugo Technologies, El Salvador: A multi-category marketplace for everyday products and services
  • Truora, Colombia: Fast, innovative, safe background checks and identity theft detection solutions

MENA

  • CHEQ, Israel: A global leader in customer acquisition security
  • CropX, Israel: Revolutionizing soil sensing, leading farmers into the connected soil era
  • MDClone, Israel: Self-service, big data, healthcare platform
  • MyndYou, Israel: Improving healthcare quality and lowering costs, engaging and listening
  • Phinergy, Israel: Clean energy generation and storage, using metals as energy carriers
  • Souqalmal, UAE: Building an online financial education platform in the Middle East

North America

  • 54gene, USA: Equalizing precision medicine
  • Airside Mobile, USA: Empowering businesses and people with privacy-based identity management
  • Akash Systems, USA: Manufacturing artificial diamond radios and satellites for low-cost internet access
  • AllStripes Research, USA: Unlocking new treatments for people affected by rare disease
  • Calibrate, USA: A telemedicine metabolic health business
  • CloudKnox, USA:Enabling organizations to implement least-privilege and zero-trust architecture
  • Crowdz, USA: Building a global ecosystem for good for receivables
  • DefinedCrowd, USA: A trusted data partner for AI
  • Diligent Robotics, USA: Building robots to support and empower patient care teams
  • Duality Technologies, USA: Enabling privacy-preserving collaboration and artificial intelligence on sensitive data
  • Dyndrite, USA: Powering the next generation of digital manufacturing
  • Enko Chem, USA:Crop health solutions, discovered and designed with intention
  • Evernym, USA:Leading globally in verifiable credential technology
  • FinMkt, USA: Omni channel and scalable point of sale financing software-as-a-service solutions
  • Gatik, USA: Developing and operating autonomous vehicles for B2B short-haul logistics
  • Gro Intelligence, USA: An AI-powered decision engine where ecology meets economy
  • Hazel Technologies, USA: Dedicated to solving the problem of food waste
  • HumanFirst, USA: Healthcare coming home, starting with digital clinical measures
  • Hypergiant, USA: Focusing critical infrastructure, space and defence using enterprise AI
  • Ionomr, Canada: Commercializing advanced ion-exchange materials to enable the hydrogen economy
  • January, USA: Analysing blood sugar and diet for diabetes control and prevention
  • Jopwell, USA: A diversity, equity and inclusion tech and human capital solution
  • Journera, USA: Helping brands improve marketing, customer experience and operations
  • Kobold Metals, USA: Deploying vanguard scientific computing to discover key battery material deposits
  • Kyndi, USA: Accurate and fast answers to any natural language question
  • LiveLike, USA: Converting passive audiences into engaged communities
  • Metabiota, USA: Building resiliency products and services for infectious disease threats
  • Mori, USA: Reducing waste and creating more sustainable supply chains
  • Natural Fiber Welding, USA: Creating circular and sustainable materials from plants and natural fibres
  • Numina, USA: Measuring street-level activity, privacy-first, to make the real world queryable
  • Pachama, USA: A tech-verified marketplace for nature-based carbon removals
  • Parsley Health, USA: Reversing chronic conditions with cutting-edge holistic medicine
  • Patientory, USA: Empowering users with insights from health data, improving health outcomes
  • Propel, USA: Helping low-income Americans make it through the month, every month
  • Propy, USA: An end-to-end real estate transaction platform facilitating transactions online
  • Reelgood, USA: An all-in-one streaming TV guide
  • Sinai Technologies, USA: Software to cost-effectively measure, analyse, price and reduce emissions
  • Skyhive, Canada: Optimizing human economies for companies, communities and countries
  • Tellus You Care:Improving eldercare with dignity and privacy
  • Unit21, USA: The command centre for risk, fraud and compliance
  • Upguard, USA: A cybersecurity platform that helps global organizations prevent data breaches
  • WooBloo, USA: Passionate about disrupting the smart home space
  • Wright Electric, USA: Building the next generation of aircraft – large, zero-emissions aircraft
  • Xanadu Quantum Technologies, Canada:A quantum technology company building fault-tolerant quantum computers using photonics
  • ZeroAvia, USA: The first practical zero-emissions, hydrogen-fuelled, powertrain technology provider for aviation

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An App to Ease Safety QR Check-Ins Wins the 2021 APEC App Challenge

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An app that makes it easy for people in the region to do their safety QR code check-ins, developed and designed by a team from Australia, has won the 2021 APEC App Challenge, held on the eve of the 2021 APEC Ministers Responsible for Trade meeting (MRT). The announcement was made by Damien O’Connor, New Zealand’s Minister for Trade and Export Growth, who chaired the meeting.

In its fifth year, the APEC App Challenge asked software developers and designers from across the region to build new mobile and web tools that can help the revival of the tourism sector and promote a safe and trustworthy travel environment, especially as the APEC region prepares for a resumption of travel.

The APEC 2021 host economy, New Zealand, has based the competition on a key priority for the forum this year: pursuing innovation and a digitally enabled recovery.

“As member economies work to facilitate the movement of people around the region, it is important to pursue digital tools that support the resumption of travel—when the time is right,” said Minister O’Connor.

“The safe resumption of cross-border travel will be critical to the region’s recovery,” Minister O’Connor said. “Returning to sustainable tourism numbers will support a wide range of businesses, boost employment, and underpin inclusive growth.”

Bryce Cronin and Saira Ambrose, who are from Australia, developed the OneQR Check-In app to help travelers scan and complete their safety check-ins quicker no matter the destination in the region. The winning team will receive a prize of USD 4,000.

“Around the region, people now need to do a safety check-in using a QR code before entering a venue,” said Ambrose. “As we prepare for a safe resumption of travel, QR check-ins will play an even more prominent role.”

The app works by showing travelers what QR check-in app they need to use or install when they travel to a different location. If the local check-in app has been installed on the traveler’s phone, OneQR will redirect travelers to the app. If not, OneQR will direct travelers to the phone’s app store to install the local safety check-in app.

“We believe that the safety check-in process should be quick, easy and simple,” Cronin explained. “Our app aims to assure travelers and hopefully contribute to building back the confidence of the tourism sector both for businesses and travelers.”

Held virtually from 14 May to 5 June, the coding competition, supported by The Asia Foundation and Google, attracted 170 participants from 13 APEC member economies.

Seirios, an app to help travelers rediscover local attractions with a COVID-19 safety rating, by an Australian team won second prize. Wanderer, an app that offers a safer shopping experience, by a Malaysian team won the third prize of the 2021 APEC App Challenge. The developers of Seirios and Wanderer will receive USD 3,000 and USD 2,000, respectively.

“The APEC App Challenge is not only a creative competition for young software developers and designers,” said Dr Rebecca Sta Maria, Executive Director of the APEC Secretariat, “it is a critical measure for addressing the current challenges within APEC where we need to bring together various stakeholders in the region, including the youth, to solve the biggest economic and health crisis of our generation, together.”

“This year’s App Challenge has highlighted an issue we’ve all been wondering about: how can we help generate income in communities that are heavily reliant on tourism and have been hit hard by the pandemic?” said John Karr, The Asia Foundation’s Senior Director of Technology Programs. “Participants have developed a range of solutions that highlight the ability of digital tools to help people discover safer and more local recreation opportunities, and—where it’s possible—get people moving again.”

“Tourism is vital to local economies and livelihoods across Asia-Pacific, and the impact of the pandemic has hit regional communities and small business owners especially hard,” said Scott Beaumont, President of Google Asia-Pacific. “There is a long road to recovery, but technology can help the industry rebuild and emerge stronger—and these brilliant developers are showing us the way.”

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Commission proposes a trusted and secure Digital Identity for all Europeans

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The Commission today proposed a framework for a European Digital Identity which will be available to all EU citizens, residents, and businesses in the EU. Citizens will be able to prove their identity and share electronic documents from their European Digital Identity wallets with the click of a button on their phone. They will be able to access online services with their national digital identification, which will be recognised throughout Europe. Very large platforms will be required to accept the use of European Digital Identity wallets upon request of the user, for example to prove their age. Use of the European Digital Identity wallet will always be at the choice of the user.

Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age said: “The European digital identity will enable us to do in any Member State as we do at home without any extra cost and fewer hurdles. Be that renting a flat or opening a bank account outside of our home country. And do this in a way that is secure and transparent. So that we will decide how much information we wish to share about ourselves, with whom and for what purpose. This is a unique opportunity to take us all further into experiencing what it means to live in Europe, and to be European.”

Commissioner for Internal Market Thierry Breton said: “EU citizens not only expect a high level of security but also convenience whether they are dealing with national administrations such as to submit a tax return or to enroll at a European university where they need official identification. The European Digital Identity wallets offer a new possibility for them to store and use data for all sorts of services, from checking in at the airport to renting a car. It is about giving a choice to consumers, a European choice. Our European companies, large and small, will also benefit from this digital identity, they will be able to offer a wide range of new services since the proposal offers a solution for secure and trusted identification services.”

The European Digital Identity framework           

Under the new Regulation, Member States will offer citizens and businesses digital wallets that will be able to link their national digital identities with proof of other personal attributes (e.g. driving licence, diplomas, bank account). These wallets may be provided by public authorities or by private entities, provided they are recognised by a Member State.

The new European Digital Identity Wallets will enable all Europeans to access services online without having to use private identification methods or unnecessarily sharing personal data. With this solution they will have full control of the data they share.

The European Digital Identity will be:

  • Available to anyone who wants to use it: Any EU citizen, resident, and business in the Union who would like to make use of the European Digital Identity will be able to do so.
  • Widely useable: The European Digital Identity wallets will be useable widely as a way either to identify users or to prove certain personal attributes, for the purpose of access to public and private digital services across the Union.
  • Users in control of their data: The European Digital Identity wallets will enable people to choose which aspects of their identity, data and certificates they share with third parties, and to keep track of such sharing. User control ensures that only information that needs to be shared will be shared.

To make it a reality as soon as possible, the proposal is accompanied by a Recommendation. The Commission invites Member States to establish a common toolbox by September 2022 and to start the necessary preparatory work immediately. This toolbox should include the technical architecture, standards and guidelines for best practices.

Next Steps

In parallel to the legislative process, the Commission will work with Member States and the private sector on technical aspects of the European Digital Identity. Through the Digital Europe Programme, the Commission will support the implementation of the European Digital Identity framework, and many Member States have foreseen projects for the implementation of the e-government solutions, including the European Digital Identity in their national plans under the Recovery and Resilience Facility.

Background

The Commission’s 2030 Digital Compass sets out a number of targets and milestones which the European Digital Identity will help achieve. For example, by 2030, all key public services should be available online, all citizens will have access to electronic medical records; and 80% citizens should use an eID solution.

For this initiative, the Commission builds on the existing cross-border legal framework for trusted digital identities, the European electronic identification and trust services initiative (eIDAS Regulation). Adopted in 2014, it provides the basis for cross-border electronic identification, authentication and website certification within the EU. Already about 60% of Europeans can benefit from the current system.

However, there is no requirement for Member States to develop a national digital ID and to make it interoperable with the ones of other Member States, which leads to high discrepancies between countries. The current proposal will address these shortcomings by improving the effectiveness of the framework and extending its benefits to the private sector and to mobile use.

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