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How Is Online Marketing for Small Business Remodeling Itself?

Sneha Hull | October 23, 2021 | 616 views

Covid-19 paved the path for the trial-and-error adoption of marketing. Due to lockdowns and restrictions, the pandemic made conducting business complex, and it was notably more tough for small enterprises. Due to this, online marketing for small businesses came into the picture and was adopted by small business owners on a larger scale. As a result, small business internet marketing has gained tremendous popularity since last year.

Small-scale Marketers are increasingly turning to online marketing due to the proliferation of new platforms, channels, and technology. A strong internet presence may work wonders for your business, catapulting it to new heights of success. As a result, the way marketing operates has shifted 180 degrees, particularly for small businesses, leveling the playing field. Small companies may now communicate with their customers at a cheaper cost and more personalized manner, thanks to online marketing.

In the recent past, Online Marketing is influencing the Small Business industry in many ways. The contributing factors are numerous to list. For instance, due to the coronavirus limitations, tactics of online marketing for small businesses have become distinctive as well. Social media platforms dominate all kinds of internet marketing.

Online is old news. Online in social media is today’s news … social media is not a subset of the internet. Social media is the internet.- Sean Case

These days, thanks to recent trends in Online Marketing, customers prefer quality marketing over the scale of business. Even small-scale businesses can access the blessing which is social media and reach their targeted audience effectively. Here are some stats that reflects this trend. According to HubSpot research, at least 71% of customers who have a positive social media experience with a business are inclined to suggest it.

78% of Internet users perform product research online, according to WPForms.
As a result, small business owners have modified their online marketing tactics according to the changing needs and the emerging trends.

Here Is How Online Marketing for Small Business Changing

Shift from Trend-based Approach to Need-based Approach


Small company owners are gradually turning away from trend-based marketing to a need-based strategy. If you concentrate on meeting critical customer requirements, you will almost certainly compel those consumers to act.

To develop customer-centric small business online marketing strategies, you must first identify their demands, which will help your brand in various ways. For example, customer requirements may be identified through focus groups, listening to your consumers, social media, or keyword research.

By concentrating more on a need-based approach to marketing, you will increase client retention and acquisition.

Hyper Focus on Customer Engagement


Organizations are experiencing unprecedented competition from non-traditional, digital-first companies after COVID-19. As a result, a newly accepted small business digital strategy places a premium on customer engagement. Enhance the customer experience to increase brand loyalty, and the most effective method is through constant engagement with consumers.

Small businesses are ensuring that the queries or customer issues are immediately addressed with follow-up action.  The purpose of customer engagement is not to earn income but to develop and enhance customer relationships.

Some of the Consumer Engagement tactics which you can explore are
  • Rewarding and incentivizing customers.
  • Utilizing gamification and social media platforms.
  • Offering personalization and interactive content.

Remember, in an age of Digital-first consumers, Customer engagement practices are crucial elements of online marketing for small businesses.


Conversion-based Dialogues Advertisements


Conversion-based dialogues marketing is one of the latest trends in internet marketing for small businesses. Live chat, chatbots, voice assistants, and other conversational artificial intelligence (AI) are all used in conversational marketing. Listening to customers' concerns and assisting them in resolving them leads to a more positive encounter where the customer feels heard.

With conversation-based dialogues, advertisements, and engagement, conversions with customers becomes more accessible than ever before. Personalized one-on-one interactions have the potential to strengthen customer connections, enhance loyalty, and create exceptional consumer experiences. As a result, we can determine its significance in small business online advertising.


Focus on Social Media Influencer Marketing


Another significant shift and growing trend in small company online advertising is the increased emphasis on social media influencer marketing. With Influencer Marketing Customers develop a sense of trust with their brands. 

According to Tomoson statistics, influencer marketing surpassed organic search, sponsored search, and email marketing as the fastest-growing client acquisition channel. Additionally, it was the most cost-effective marketing strategy.

Small business owners are attempting to leverage influence marketing to reach smaller but more active audiences. Again, pandemic played an important role in initiating this trend. During the pandemic, most customers spent most of their online time on social media and actively engaged with content providers, which pushed small company owners to adopt this marketing method.

Social media platforms Influencer marketing is a very effective method of marketing for startups. This is an example of a startup influencer campaign. As a fashion store startup, JustFab entered the eCommerce market. They co-founded their athleisure label Fabletics with actress Kate Hudson. As a consequence, the brand and its products received widespread recognition and the company successfully expanded to become a diverse worldwide corporation.


Hyper-personalization and Targeting the Customers


Small business owners aggressively go for a hyper-personalization approach and experience to attract customer's attention and increase customer engagement. Big data has made hyper-personalized customer experience easy.

Small firms use developing technology to identify precise consumer needs and requirements and target the correct customers. As a result, small businesses will surpass their competition via hyper-personalization.

In a fast-paced age where customers often face cluttered and complicated shopping experiences; hyper-personalization reduces the customer's effort by removing obstacles in the sales funnel.
Hyper-personalization interprets customers' intent by analyzing behavioral and real-time data. As a result, communication is more thoroughly examined, and conversion is increased.

Winding Up

As a result of the pandemic, the word "Marketing" and its activities have taken a wild trip during the last two years. As a result, online marketing for small businesses has drastically changed. The change has made small business owners come up with new strategies and, at the same time, think locally and globally to engage their target customers. In addition, internet marketing for small businesses has opened an array of smart and innovative opportunities and channels for marketers to explore. .

Frequently Asked Questions:


How do small businesses use online marketing?


Small businesses can use online marketing in many ways. Following are few marketing tips.
  • Build a strong social media presence
  • Focus on using video marketing
  • Use email marketing
  • Expand your website
  • Focus on using AI or cloud-based technology
  • Utilize influencer marketing for better engagement


What are the main online marketing strategies?


The main online marketing strategies are:
  • Search engine optimization (SEO)
  • Pay per click (PPC)
  • Content marketing
  • Social media marketing
  • Email marketing
  • Affiliate marketing

How small businesses benefit from digital marketing?


Small businesses benefit in many ways through digital marketing.
  • Wider reach
  • Increases brand awareness
  • Cost-effective
  • Time-effective
  • Easier to target the audience
  • Increases customer engagement

Spotlight

AppLovin

AppLovin is a leading mobile marketing platform that helps the world's largest brands reach over two billion consumers globally with relevant content. The platform provides marketing automation that allows brands to acquire new consumers on mobile apps.

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Embrace Business Process Management Essentials with Best BPM Books

Article | February 21, 2022

Dive into the world of Business Process Management (BPM) with handpicked must-read BPM books. Gain insights from industry experts and discover proven techniques that will propel your business forward. The discipline of business process management (BPM) has emerged as a crucial strategic approach to adapting to the ever-changing market conditions in the current dynamic business landscape. However, to navigate the vast landscape of BPM and gain a deep understanding of its principles and practices, professionals, researchers, and students need comprehensive resources that provide insights into various facets of BPM. This article aims to present a curated list of best books on business process management, showcasing their relevance, value, and potential impact on enhancing BPM expertise. The selected BPM books featured in this article bring forth a unique perspective, offering practical guidance, case studies, and real-world examples that illustrate the application of BPM principles in diverse industries and contexts. By studying these resources, professionals can develop a solid foundation in BPM, acquire the necessary skills to optimize and automate processes and contribute to organizational success. 1.Business Process Management: Concepts, Languages, Architectures Author: Mathias Weske 'Business Process Management: Concepts, Languages, Architectures' by Mathias Weske serves as a comprehensive and indispensable guide, delving deep into the world of business process management (BPM). Unlike other resources that often focus on either business administration or computer science, Weske advocates for a unified understanding across all involved communities. By presenting a holistic view, this BPM book equips readers with the knowledge to navigate various aspects of the discipline. Weske lays a strong foundation by exploring the fundamental principles of BPM, enabling readers to effectively manage complex business processes. Through lucid explanations and practical examples, the book also demystifies prominent process modeling languages such as BPMN (Business Process Model and Notation) and BPEL (Business Process Execution Language). Furthermore, it delves into the architectural facets of BPM systems, discussing crucial concepts like process engines, process choreographies, and service-oriented architectures. By offering a comprehensive approach, the book not only enlightens on theoretical aspects but also provide valuable strategies for successfully applying BPM in real-world scenarios. 2.Modern Business Process Automation: YAWL and its Support Environment Editors: Arthur H. M. ter Hofstede, Wil M. P. van der Aalst, Michael Adams, Nick Russell The 'Modern Business Process Automation: YAWL and its Support Environment' offers readers a comprehensive and authoritative exploration of YAWL (Yet Another Workflow Language) and its support environment. This edition brings together a team of distinguished editors and contributors who delve into modern business process automation concepts, techniques, and tools. The book covers a wide range of topics and provides readers with a timeless and vendor-independent understanding of the essential components of business process automation. While the field of BPM is subject to constant change with the proposal of new standards and the introduction of new tools and technologies, this book equips readers with a solid foundation in the fundamentals that remain relatively stable. It empowers readers to better understand, assess, and leverage new developments in the evolving BPM landscape. 'Modern Business Process Automation: YAWL and its Support Environment' is a valuable resource for professionals, researchers, and students interested in business process automation. 3.Handbook on Business Process Management 1: Introduction, Methods, and Information Systems (International Handbooks on Information Systems) Editors: Jan vom Brocke, Michael Rosemann The 'Handbook on Business Process Management 1: Introduction, Methods, and Information Systems' is an invaluable reference guide that explores all aspects of business process management (BPM). With its two volumes and contributions from leading experts in the field, this handbook presents the contemporary body of knowledge on BPM. It starts by offering readers a comprehensive introduction to BPM, ensuring a solid understanding of its fundamental concepts. The book then delves into BPM methods and process-aware information systems, providing valuable guidance on integrating BPM into corporate methodologies and information systems. To enrich the reader's understanding, selected case studies are included, showcasing real-world applications of BPM, ensuring a comprehensive summary of BPM expertise, and covering critical success factors in the field. With its extensive coverage and expert insights, the 'Handbook on Business Process Management 1' serves as an indispensable resource and presents a holistic view of BPM methodologies, information systems, and their practical application across various industries. 4.Process Mining: Discovery, Conformance and Enhancement of Business Processes Author: Wil M. P. van der Aalst 'Process Mining: Discovery, Conformance and Enhancement of Business Processes' focuses on the emerging field of process mining and its applications in business process management. It provides readers with a thorough overview of process mining and guides readers through its practical use techniques, including process discovery, conformance checking, and process enhancement. The book explores various process discovery algorithms and their applications across different domains, offering readers a broad understanding of the topic. The next focus is on conformance checking, where the book demonstrates how discovered process models can be compared with predefined models or business rules. It then dives into process enhancement, showcasing how process mining insights can be leveraged to optimize and improve existing business processes. 'Process Mining: Discovery, Conformance and Enhancement of Business Processes' equips readers with the knowledge and skills to effectively apply process mining techniques, leading to better process understanding, compliance, and optimization. 5.Enabling Flexibility in Process-Aware Information Systems: Challenges, Methods, Technologies Authors: Manfred Reichert, Barbara Weber 'Enabling Flexibility in Process-Aware Information Systems: Challenges, Methods, Technologies' by Manfred Reichert and Barbara Weber explores the concept of flexibility in process-aware information systems (PAIS). This BPM book offers valuable insights into the challenges, methodologies, and technologies that empower organizations to achieve adaptable and flexible process management. The book primarily focuses on flexibility support for pre-specified processes, the prevailing paradigm in business process management (BPM). It delves into the methodologies and approaches that facilitate flexibility within this framework. Additionally, the authors emphasize the technologies and tools that enable flexibility in PAIS, including workflow management systems, rule engines, and service-oriented architectures. In addition, the book provides practical examples, case studies, and exercises to clarify concepts and demonstrate the application of flexible process management in real-world scenarios. This helps readers grasp the practical implications and benefits of embracing flexibility in PAIS. 6.Fundamentals of Business Process Management Authors: Marlon Dumas, Marcello La Rosa, Jan Mendling, Hajo A. Reijers 'Fundamentals of Business Process Management' is a comprehensive textbook that thoroughly explains the core concepts and principles of business process management (BPM). The book begins by introducing readers to the basics of business processes, emphasizing their characteristics and the significance of effective management. It covers the entire BPM lifecycle, starting from process identification and extending to process monitoring. Key topics addressed include process modeling, analysis, redesign, and automation. To ensure a holistic approach, concepts, methods, and tools from business management, computer science, and industrial engineering are integrated into a cohesive and interdisciplinary framework. The book enhances the learning experience by including numerous real-world examples, case studies, and exercises. These practical elements reinforce the concepts and enable hands-on learning, promoting a deeper understanding of BPM principles in action. It balances theoretical foundations and practical applications, making it suitable for academic study and professional reference. 7.Conformance Checking: Relating Processes and Models Authors: Boudewijn van Dongen, Josep Carmona, Andreas Solti and Matthias Weidlich 'Conformance Checking: Relating Processes and Models' is a book that focuses on the crucial field of conformance checking in business process management. It offers valuable insights into the techniques and methodologies used to compare real-world process executions with their corresponding process models. The book starts by introducing the concept of conformance checking and highlighting its significance in assessing the compliance and alignment of actual process executions with intended models. The book explores different perspectives of conformance, including control flow, data, and resource perspectives, providing a comprehensive understanding of the topic. The authors discuss various approaches for evaluating conformance, enabling organizations to assess the adherence of executed processes to the expected behavior as defined by process models. Real-world examples, case studies, and illustrations are provided throughout the book to understand the application of conformance-checking techniques in different industries and domains. Additionally, the authors discuss the limitations and challenges associated with conformance checking, providing readers with a comprehensive overview of the field. 8.Business Process Change: A Business Process Management Guide for Managers and Process Professionals Author: Paul Harmon 'Business Process Change: A Business Process Management Guide for Managers and Process Professionals' offers practical insights and guidance on managing and implementing business process change. This book on business process management serves as a valuable resource for managers and process professionals seeking to improve organizational performance through effective business process management (BPM). Harmon provides a step-by-step approach to understanding, analyzing, and redesigning business processes to drive operational excellence and strategic agility. The book covers a wide range of topics related to business process change, including process identification, analysis, redesign, implementation, and monitoring. The author introduces various methodologies and tools used in BPM, such as process modeling, Six Sigma, Lean, and workflow automation. Harmon's practical approach ensures that the book is accessible to both business professionals and process specialists. Furthermore, the book addresses the human side of process change by discussing change management strategies, stakeholder engagement, and fostering a process-centric culture. 9.High Performance Through Business Process Management: Strategy Execution in a Digital World Author: Mathias Kirchmer 'High Performance Through Business Process Management: Strategy Execution in a Digital World' by Mathias Kirchmer explores the effective utilization of business process management (BPM) to achieve high-performance results. With a focus on aligning BPM with digital transformation initiatives, Kirchmer offers valuable insights into driving strategy execution in today's rapidly evolving business landscape. The book underscores the critical role of BPM in enabling organizations to navigate the challenges posed by the digital age. Readers are provided with practical guidance on developing a BPM strategy that aligns with the overall business strategy. Furthermore, the book delves into BPM's cultural and organizational aspects, recognizing the significance of change management, leadership, and employee engagement. By addressing these crucial factors, organizations can foster a supportive environment for BPM implementation and drive successful strategy execution. Real-world case studies and examples are drawn throughout the book, illustrating how organizations have leveraged BPM to achieve high performance. These practical insights showcase the tangible benefits of implementing BPM in various industries and highlight best practices for success. 10.BPM CBOK Version 4.0: Guide to the Business Process Management Common Body Of Knowledge Authors: Tony Benedict, Mathias Kirchmer, Marc Scarsig, Pater Frantz, Raju Saxena, Dan Morris, Jack Hilty The 'BPM CBOK Version 4.0: Guide to the Business Process Management Common Body Of Knowledge' provides a holistic overview of the common body of knowledge in the field of business process management (BPM). The book aims to establish a shared understanding and framework for BPM by consolidating the collective knowledge and expertise of the authors. The book covers various aspects of BPM and provides insights into the essential concepts, methodologies, techniques, and best practices. Starting with the foundational principles of BPM, including process modeling, analysis, design, and optimization, the authors lay a solid groundwork for readers to grasp the core elements of effective process management. The book also highlights the critical role of technology in BPM and delves into emerging trends in BPM, including the influence of digital transformation, customer experience management, and the integration of artificial intelligence (AI) and robotic process automation (RPA) in process management practices. By addressing these trends, the authors ensure that readers are equipped with insights into the evolving landscape of BPM. Conclusion These featured business process management books in the article serve as invaluable resources for individuals seeking to enhance their knowledge of BPM and leverage its power to drive organizational success. By studying these BPM books, professionals can gain a competitive edge, contribute to process improvement initiatives, and make informed decisions that propel their organizations forward. The practical examples, case studies, and real-world applications shared in these books equip readers with the tools and insights to optimize processes, improve productivity, and achieve operational excellence. As BPM continues to shape the business landscape, these books will remain indispensable references, providing guidance and inspiration for future advancements in the field.

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Marketing and Networking

Building Successful E-commerce Businesses for SMBs

Article | March 23, 2022

Small businesses can greatly boost sales and revenue by adopting an analytical approach and successfully implementing relevant e-commerce strategies to establish a strong presence in the digital realm. Contents 1 Importance of E-commerce for SMBs 2 E-commerce Business Development 2.1 Grow a Core Niche 2.2 Choose the Right Platform 2.3 Optimize Product Listings and Pricing 2.4 Target Mobile Audiences 2.5 Integrated Systems 2.6 Develop Effective Marketing Strategy 2.7 Provide Excellent Customer Service 3 Final Thoughts 1. Importance of E-commerce for SMBs The e-commerce market is expected to reach a market valuation of $58.74 trillion by 2028 at a compound annual growth rate (CAGR) of over 26.55%. (Source: SkyQuest). The transformative potential of e-commerce business models has allowed Small and Medium-sized Businesses (SMBs) to expand their sales in both standardized and niche products by leveraging improved website design to connect with consumers remotely, establish brand identity, and tailor products to specific demands. As the e-commerce industry continues to flourish globally, SMBs have unprecedented opportunities to enter the online marketspace. However, it is imperative that aspiring enterprises recognize that a thriving e-commerce small business entails more than just a digital storefront and requires a thoughtful and strategic approach. As noted by the World Development Report 2020 Trading for Development, MSME participation in e-commerce and other digital platforms - such as service delivery in food services, accommodation, and other sectors – can make it easier to sell goods and services, lower costs of entry to markets and costs of doing business, and boost MSME productivity and profits. (Source: World Bank) 2. E-commerce Business Development E-commerce is now essential to modern business operations, particularly for SMBs, who can significantly increase their customer base and revenue with the right tools and strategies. By implementing the discussed steps and insights, SMBs can unlock the full potential of e-commerce and establish themselves as successful players in the digital realm. Thus, SMBS must recognize the vast benefits of e-commerce and equip themselves with the knowledge and resources required to succeed in this competitive landscape. 2.1 Grow a Core Niche A comprehensive understanding of the target customers is fundamental to starting a lucrative small e-commerce business. This necessitates meticulous market research and customer base analysis to discern gaps and potential acquisition opportunities. It is also indispensable to establish a genuine and committed core audience that values exclusive or personalized products. Given the intense competition, it is vital to pinpoint a distinctive product offering and a robust core audience that is enthusiastic about procuring and steadfast in their loyalty. As per a report, there were 2.14 billion online shoppers in 2021, which went up from 1.52 billion in 2016, a 28% increase in just over five years. (Source: SkyQuest) 2.2 Choosethe Right Platform To build a successful online business, choosing the right e-commerce platform and tools is critical. Starting e-commerce businesses must carefully evaluate each option, comparing features, pricing, and usability to make an informed decision that suits their needs and budget. In addition, it's recommended to refrain from reinventing the wheel by creating products that already exist as services, especially if there is a lack of technical expertise. For instance, when targeting consumers, it's better to use available platforms rather than build an e-commerce website from scratch unless there are compelling reasons to do so. 2.3 Optimize Product Listings and Pricing The optimization of product listings and pricing is undeniably critical to the success of small e-commerce businesses. A robust approach that includes clear and informative product descriptions, high-quality images, and videos is essential to attract potential customers. To ensure the seamless discovery of products on the website, it is crucial to utilize clear titles, relevant keywords, and detailed categories & filters. Pricing, on the other hand, requires a meticulous balance between profitability and competitiveness. Therefore, conducting thorough research on competitors' prices is imperative while also considering production, shipping, and overhead costs. Furthermore, dynamic pricing strategies, including seasonal discounts, flash sales, and personalized pricing, can stimulate sales and foster customer loyalty. 2.4 Target Mobile Audiences In order to thrive in the current landscape, small e-commerce businesses must prioritize mobile accessibility, personalization, and engagement. Although several tools are available to assist in achieving these goals, mastering them is crucial to success.Moreover, businesses should ensure their mobile shopping experience is intuitive and user-friendly. This involves having a mobile-responsive e-commerce website, streamlined navigation, and a seamless checkout process. By implementing these measures, businesses can reduce cart abandonment rates and increase revenue. 30% of mobile shoppers abandon a transaction if the shopping experience is not optimized for mobile. (Source: MoPowered) 2.5 Integrated Systems Integrated systems play a crucial role in the success of SMB e-commerce ventures, enabling inventory management, order fulfillment, and customer relationship management through a unified platform. However, conventional tools such as CMS, ERP systems, and e-commerce platforms must be improved for managing product data as businesses grow. Hence, investing in a product information management solution is imperative to ensure seamless product information management across various internal and external channels such as online stores, product catalogs, and ERP systems. 2.6 Develop Effective Marketing Strategy Crafting a comprehensive marketing strategy is paramount to effectively promoting an e-commerce business and reaching its target audience. A robust marketing strategy can be achieved by adopting a multi-faceted approach that entails developing a content marketing plan, launching email marketing campaigns, and leveraging social media marketing to expand the reach and drive traffic to the website. Only 12% of businesses feel that they are using social media effectively. (Source: Harvard Business Review) 2.7 Provide Excellent Customer Service SMB e-commerce businesses' success heavily depends on their ability to provide excellent customer service. To achieve this, organizations must offer multiple communication channels, prioritize customer needs and concerns, and personalize the customer experience. By doing so, they can establish customer loyalty and generate positive word-of-mouth. In addition, regularly evaluating and improving customer service processes is essential to meet customer expectations and needs. 89% of shoppers have stopped buying from online stores after they experienced poor customer service. (Source: RightNow) 3. Final Thoughts The emergence of e-commerce has presented a unique opportunity for SMBs to grow their sales and engage with customers remotely. However, achieving success in the online marketplace requires a strategic approach that enables businesses to compete effectively. To that end, SMBs must formulate and execute a comprehensive plan that encompasses essential aspects of e-commerce, such as creating a user-friendly website, developing a targeted marketing strategy, and streamlining the order fulfillment process. By following these steps and leveraging industry insights, SMBs can leverage the full potential of e-commerce and establish themselves as key players in the digital realm. As e-commerce grows globally, SMBs have an unprecedented opportunity to enter the online marketplace and boost their productivity and profits.

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Marketing and Networking

Leverage the Benefits for SMBs with Top BPM Events to Attend

Article | December 8, 2021

Connect with industry leaders, learn about latest trends, and gain valuable insights. Stay ahead of the competition, enhance efficiency, and maximize the organization's potential with leading BPM events Organizations across industries constantly seek ways to streamline their operations, optimize efficiency, and deliver exceptional results in the current fast-paced and ever-changing business landscape. This pursuit has led to the rapid growth and increasing significance of Business Process Management (BPM). As more organizations recognize the transformative potential of effective BPM, they are actively engaging in a range of BPM conferences and events dedicated to this field. This article explores some of the top events in the field of BPM that professionals can attend to enhance their understanding of this field and accelerate their business process transformation journeys. These business process management events provide a platform for attendees to gain insights into topics such as process analysis, automation, change management, and integrating BPM into their overall business strategy. By participating in these events, professionals can uncover new possibilities, ignite their transformation journey, and gain a competitive edge in the market. 1.BPM 2023 conference (21st International Conference on Business Process Management) September 11 - 15, 2023 | Utrecht (The Netherlands) The 21st edition of BPM 2023, presented by Utrecht University and University of Applied Sciences Utrecht, stands as a premier conference in the field of Business Process Management. Over the last decade, this esteemed event has solidified its status by curating cutting-edge research and facilitating captivating talks, insightful tutorials, and thought-provoking discussions among leading thought leaders and innovators. This conference will act as a vibrant platform, fostering collaboration among experts from diverse fields such as Computer Science, Information Systems Engineering, and Management, creating a dynamic melting pot of knowledge and expertise. 2. Business Process Transformation Forum September 11 - 13, 2023 | Scottsdale (AZ) Organizations must be agile, innovative, and customer-centric to succeed in today's rapidly evolving business landscape. Continuous adaptation and improvement of business processes are essential to drive growth and thrive in this environment. The Business Process Transformation Forum is the ideal platform for organizations seeking to accelerate their business process transformation journey and connect with peers, thought leaders, and market experts from across the Americas. At this forum, attendees can delve into a wide range of topics critical to driving business process transformation. These will include transforming business processes, leveraging process mining and analysis techniques, and exploring the steps and best practices necessary for continuous process improvement. By embracing these insights, organizations can outperform their competitors in the market and maintain a competitive edge. 3. All Access BPM 2023 September 19 - 20, 2023 | Online The importance of Business Process Management (BPM) cannot be overstated in today's fast-paced business landscape. However, despite the widespread adoption of BPM techniques, only a small fraction of organizations effectively leverage BPM to enhance their business performance. In light of this, the All Access BPM 2023 conference aims to address this gap by offering a comprehensive program focused on key areas such as business architecture, autonomous enterprise, process mining, process intelligence, change management, and workflow automation. By attending this event, participants will gain invaluable insights and innovative strategies directly from industry leaders. One of the primary objectives of All Access BPM 2023 is to guide attendees on integrating BPM into their overall business strategy. This conference will serve as a platform for professionals to stay updated with the latest insights, learn best practices, and discover innovative approaches to maximize the benefits of BPM within their respective organizations. 4.ICBPMPA 2023: 17. International Conference on Business Process Management and Processes Analysis October 09 - 10, 2023 | New York (United States) The International Research Conference is an esteemed federated organization that strives to unite diverse scholarly events for presentation within its comprehensive conference program. With its commitment to delivering high-quality content, the conference provides exceptional value for students, academics, and industry researchers alike. One notable event within the International Research Conference is the International Conference on Business Process Management and Processes Analysis. This conference aims to gather leading academic scientists, researchers, and scholars to foster the exchange and sharing of experiences and research findings related to all aspects of Business Process Management and processes Analysis. Furthermore, this conference will serve as a premier interdisciplinary platform for researchers, practitioners, and educators to showcase and discuss the latest innovations, emerging trends, and concerns in the fields of Business Process Management and Processes Analysis. 5. Enterprise Architecture & Business Process Management Conference Europe October 09 – 12, 2023 | London (UK) The Enterprise Architecture & Business Process Management Conference presents a comprehensive program of four conference tracks, encompassing over 45 sessions and insightful case studies from esteemed organizations. Prominent entities like APG, Bank of England, British Army Recruiting Group in partnership with Capita, Cambridge University Press and Assessment, Department of National Defence, Canada, IBM, IKEA Group, KPMG, and many more contribute their expertise, offering attendees a wealth of knowledge and valuable insights. This BPM event will offer attendees the opportunity to broaden their knowledge through a diverse range of half-day workshops led by world-class instructors. By joining the conference, attendees can learn how to effectively address the challenges organizations face today and in the future, equipping them with the necessary tools to thrive in a dynamic business environment. 6.ICBPMS 2024: 18. International Conference on Business Process Management Systems January 28 - 29, 2024 | New York (United States) The International Research Conference is dedicated to bringing together a diverse array of scholarly events within its comprehensive conference program. These events are scheduled over a span of time, which may vary based on the number and duration of presentations. One of the noteworthy events within the International Research Conference is the International Conference on Business Process Management and Processes Analysis. This conference aims to foster collaboration among leading academic scientists, researchers, and research scholars, providing them with a platform to exchange and share their experiences and research findings encompassing all aspects of Business Process Management and Processes Analysis. The conference will allow attendees to engage in fruitful discussions, gain valuable insights, and establish meaningful connections with experts in their respective fields. 7.BPM 2024 (22nd Business Process Management Conference 2024) September 1 - 6, 2024 | Krakow (Poland) The BPM 2024 is the leading conference for researchers and practitioners in Business Process Management. Over the years, it has earned the reputation of being the go-to gathering for international BPM enthusiasts, attracting a substantial number of attendees annually. Structured across three tracks, namely foundation, engineering, and management, this conference encompasses a comprehensive program. Additionally, it will feature various co-located events, including the doctoral consortium, workshops, forums, demos, and tutorials. As the foremost forum in Business Process Management, this conference will offer a prestigious platform for researchers and practitioners to convene. It will serves as a melting pot, bringing together experts from a range of disciplines, including computer science, information systems engineering, and management. Conclusion The world of Business Process Management (BPM) offers a plethora of opportunities for organizations. As highlighted by the diverse range of BPM events and conferences discussed in this article, professionals in the field have numerous platforms to connect, learn, and share their expertise. These gatherings serve as melting pots for thought leaders, researchers, practitioners, and industry experts. Attendees have the chance to explore cutting-edge research, exchange experiences, and gain valuable insights into the latest trends, challenges, and best practices in BPM. By participating in these BPM events, professionals can broaden their knowledge, strengthen their skill set, and build a strong network of peers. These connections and learnings can contribute to the continuous improvement of business processes within their organizations, leading to increased efficiency, cost reduction, and enhanced overall performance.

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TECHNOLOGY, BUSINESS STRATEGY

Top Tools SMBs Can Leverage to Maximize Their E-commerce Potential

Article | July 11, 2023

Leverage the top e-commerce tools that small and medium-sized businesses (SMBs) can utilize to boost profitability. Maximize your potential with these powerful e-commerce solutions. In today's dynamic business environment, e-commerce presents significant opportunities for small and medium-sized businesses (SMBs) to expand their reach and drive profitability. With global e-commerce sales projected to reach $8.1 trillion by 2026 (Statista), SMBs have a tremendous growth potential. However, resource limitations compared to larger businesses can pose challenges in competing effectively. To overcome these challenges and maximize their potential, SMBs need to leverage cutting-edge e-commerce tools. These tools can enhance their operations and drive accelerated growth. This article will explore the top e-commerce tools that SMBs can strategically utilize to boost profitability and propel their business forward. By harnessing their power, SMBs can optimize their online presence, streamline operations, and achieve sustainable success in the ever-evolving e-commerce industry. 1.WooCommerce WooCommerce is a powerful e-commerce solution built on WordPress, a popular content management system. It enables small and medium businesses to create and manage their online stores effectively. As an open-source platform, it offers extensive customization options and flexibility, allowing businesses to tailor their online stores to their specific requirements and branding. It is important to note that the platform is not a standalone website builder but a plugin that integrates seamlessly with WordPress. The platform also provides a wide range of extensions and add-ons to enhance store functionality and meet specific business needs. With WooCommerce, businesses can manage products, set up payment gateways, handle shipping options, and customize the design and layout of their stores. 2.Semrush Semrush is a leading online visibility management SaaS platform that helps businesses improve their search engine ranking, website traffic, and online visibility. It offers a wide range of features, including keyword research, competitor analysis, and website auditing. Semrush simplifies the process of running online marketing campaigns with its user-friendly interface and intuitive tools. It enables users to easily build, manage, and measure campaigns across various channels, freeing up time for marketing professionals to focus on creativity and content creation while Semrush handles the data and analytics. The platform also includes link building and auditing tools that can improve website visibility and generate organic traffic, helping businesses identify opportunities for improvement and implement effective SEO strategies. 3.Ahrefs Ahrefs is an all-in-one SEO toolset that provides businesses with a comprehensive set of features to optimize their websites and increase search traffic. Its keyword research capabilities allow users to discover relevant keywords, assess their search volume and difficulty, and identify new opportunities. The backlink analysis features provide insights into a website's backlink profile, helping businesses understand the quality and quantity of their backlinks. Ahrefs also offers tools for rank tracking, site audits, content analysis, and competitor analysis, enabling businesses to monitor their search engine rankings, identify technical issues, analyze content performance, and gain insights into competitors' strategies. 4.NAKIVO NAKIVO Backup & Replication is a powerful data protection solution designed for SMBs and enterprises. It offers seamless backup and replication for virtual, physical, and cloud environments, supporting platforms like VMware, Hyper-V, Nutanix AHV, and AWS. With advanced features such as incremental backups, global deduplication, and network acceleration, NAKIVO optimizes storage space and reduces backup windows. Its instant granular recovery ensures quick retrieval of files, application objects, and VMs, minimizing downtime. The solution also provides flexible recovery options and seamless integration with cloud storage for offsite protection. NAKIVO Backup & Replication is a user-friendly and comprehensive solution that enables organizations to securely protect their data and ensure business continuity. 5.Omnisend Omnisend is an all-in-one platform that combines email marketing and SMS capabilities, to help businesses effectively engage and communicate with their customers. It enables businesses to create personalized and targeted campaigns, generate client engagement and reach their audience at the right time and through their preferred channel. The platform offers a wide range of features, including customizable templates, automation workflows, segmentation, and A/B testing, allowing businesses to create compelling and engaging marketing messages. In addition, it provides robust analytics and reporting tools to track campaign performance and measure the impact of marketing efforts. With its user-friendly interface and productive tools, Omnisend empowers businesses to increase conversions and revenue. 6.Veeqo Veeqo is a free shipping and inventory management platform designed to streamline e-commerce operations for businesses of all sizes. Its comprehensive features simplify the process of managing stock levels, automating order fulfillment, and integrating with various sales channels. Veeqo provides real-time visibility into inventory, allowing businesses to efficiently track and manage their products across multiple platforms. The platform also offers reporting and analytics tools to help businesses gain insights into their performance and make data-driven decisions. With its user-friendly interface and powerful functionality, Veeqo empowers e-commerce businesses to optimize their operations, enhance customer experiences, and drive profitability. Final Thoughts The world of e-commerce offers a plethora of powerful tools that small and medium-sized businesses (SMBs) can leverage to significantly increase their profitability. By adopting the right tools and technologies, SMBs can streamline their operations, enhance customer experiences, and ultimately drive revenue growth. The tools discussed in this article, such as Veeqo, Omnisend, and NAKIVO Backup & Replication, offer robust features and functionalities tailored to the unique needs of SMBs. Whether it's efficient inventory management, effective email marketing, or reliable data backup and recovery, these tools provide the necessary capabilities to optimize e-commerce operations and achieve sustainable profitability. It is essential for SMBs to carefully evaluate their specific requirements, explore the available options, and invest in the tools that align with their business goals. By harnessing the power of these top e-commerce tools, SMBs can gain a competitive edge, attract more customers, and ultimately thrive in the digital marketplace.

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Marketing and Networking

5 Effective Sales Strategy for Small Business

Article | February 21, 2022

Dive into the world of Business Process Management (BPM) with handpicked must-read BPM books. Gain insights from industry experts and discover proven techniques that will propel your business forward. The discipline of business process management (BPM) has emerged as a crucial strategic approach to adapting to the ever-changing market conditions in the current dynamic business landscape. However, to navigate the vast landscape of BPM and gain a deep understanding of its principles and practices, professionals, researchers, and students need comprehensive resources that provide insights into various facets of BPM. This article aims to present a curated list of best books on business process management, showcasing their relevance, value, and potential impact on enhancing BPM expertise. The selected BPM books featured in this article bring forth a unique perspective, offering practical guidance, case studies, and real-world examples that illustrate the application of BPM principles in diverse industries and contexts. By studying these resources, professionals can develop a solid foundation in BPM, acquire the necessary skills to optimize and automate processes and contribute to organizational success. 1.Business Process Management: Concepts, Languages, Architectures Author: Mathias Weske 'Business Process Management: Concepts, Languages, Architectures' by Mathias Weske serves as a comprehensive and indispensable guide, delving deep into the world of business process management (BPM). Unlike other resources that often focus on either business administration or computer science, Weske advocates for a unified understanding across all involved communities. By presenting a holistic view, this BPM book equips readers with the knowledge to navigate various aspects of the discipline. Weske lays a strong foundation by exploring the fundamental principles of BPM, enabling readers to effectively manage complex business processes. Through lucid explanations and practical examples, the book also demystifies prominent process modeling languages such as BPMN (Business Process Model and Notation) and BPEL (Business Process Execution Language). Furthermore, it delves into the architectural facets of BPM systems, discussing crucial concepts like process engines, process choreographies, and service-oriented architectures. By offering a comprehensive approach, the book not only enlightens on theoretical aspects but also provide valuable strategies for successfully applying BPM in real-world scenarios. 2.Modern Business Process Automation: YAWL and its Support Environment Editors: Arthur H. M. ter Hofstede, Wil M. P. van der Aalst, Michael Adams, Nick Russell The 'Modern Business Process Automation: YAWL and its Support Environment' offers readers a comprehensive and authoritative exploration of YAWL (Yet Another Workflow Language) and its support environment. This edition brings together a team of distinguished editors and contributors who delve into modern business process automation concepts, techniques, and tools. The book covers a wide range of topics and provides readers with a timeless and vendor-independent understanding of the essential components of business process automation. While the field of BPM is subject to constant change with the proposal of new standards and the introduction of new tools and technologies, this book equips readers with a solid foundation in the fundamentals that remain relatively stable. It empowers readers to better understand, assess, and leverage new developments in the evolving BPM landscape. 'Modern Business Process Automation: YAWL and its Support Environment' is a valuable resource for professionals, researchers, and students interested in business process automation. 3.Handbook on Business Process Management 1: Introduction, Methods, and Information Systems (International Handbooks on Information Systems) Editors: Jan vom Brocke, Michael Rosemann The 'Handbook on Business Process Management 1: Introduction, Methods, and Information Systems' is an invaluable reference guide that explores all aspects of business process management (BPM). With its two volumes and contributions from leading experts in the field, this handbook presents the contemporary body of knowledge on BPM. It starts by offering readers a comprehensive introduction to BPM, ensuring a solid understanding of its fundamental concepts. The book then delves into BPM methods and process-aware information systems, providing valuable guidance on integrating BPM into corporate methodologies and information systems. To enrich the reader's understanding, selected case studies are included, showcasing real-world applications of BPM, ensuring a comprehensive summary of BPM expertise, and covering critical success factors in the field. With its extensive coverage and expert insights, the 'Handbook on Business Process Management 1' serves as an indispensable resource and presents a holistic view of BPM methodologies, information systems, and their practical application across various industries. 4.Process Mining: Discovery, Conformance and Enhancement of Business Processes Author: Wil M. P. van der Aalst 'Process Mining: Discovery, Conformance and Enhancement of Business Processes' focuses on the emerging field of process mining and its applications in business process management. It provides readers with a thorough overview of process mining and guides readers through its practical use techniques, including process discovery, conformance checking, and process enhancement. The book explores various process discovery algorithms and their applications across different domains, offering readers a broad understanding of the topic. The next focus is on conformance checking, where the book demonstrates how discovered process models can be compared with predefined models or business rules. It then dives into process enhancement, showcasing how process mining insights can be leveraged to optimize and improve existing business processes. 'Process Mining: Discovery, Conformance and Enhancement of Business Processes' equips readers with the knowledge and skills to effectively apply process mining techniques, leading to better process understanding, compliance, and optimization. 5.Enabling Flexibility in Process-Aware Information Systems: Challenges, Methods, Technologies Authors: Manfred Reichert, Barbara Weber 'Enabling Flexibility in Process-Aware Information Systems: Challenges, Methods, Technologies' by Manfred Reichert and Barbara Weber explores the concept of flexibility in process-aware information systems (PAIS). This BPM book offers valuable insights into the challenges, methodologies, and technologies that empower organizations to achieve adaptable and flexible process management. The book primarily focuses on flexibility support for pre-specified processes, the prevailing paradigm in business process management (BPM). It delves into the methodologies and approaches that facilitate flexibility within this framework. Additionally, the authors emphasize the technologies and tools that enable flexibility in PAIS, including workflow management systems, rule engines, and service-oriented architectures. In addition, the book provides practical examples, case studies, and exercises to clarify concepts and demonstrate the application of flexible process management in real-world scenarios. This helps readers grasp the practical implications and benefits of embracing flexibility in PAIS. 6.Fundamentals of Business Process Management Authors: Marlon Dumas, Marcello La Rosa, Jan Mendling, Hajo A. Reijers 'Fundamentals of Business Process Management' is a comprehensive textbook that thoroughly explains the core concepts and principles of business process management (BPM). The book begins by introducing readers to the basics of business processes, emphasizing their characteristics and the significance of effective management. It covers the entire BPM lifecycle, starting from process identification and extending to process monitoring. Key topics addressed include process modeling, analysis, redesign, and automation. To ensure a holistic approach, concepts, methods, and tools from business management, computer science, and industrial engineering are integrated into a cohesive and interdisciplinary framework. The book enhances the learning experience by including numerous real-world examples, case studies, and exercises. These practical elements reinforce the concepts and enable hands-on learning, promoting a deeper understanding of BPM principles in action. It balances theoretical foundations and practical applications, making it suitable for academic study and professional reference. 7.Conformance Checking: Relating Processes and Models Authors: Boudewijn van Dongen, Josep Carmona, Andreas Solti and Matthias Weidlich 'Conformance Checking: Relating Processes and Models' is a book that focuses on the crucial field of conformance checking in business process management. It offers valuable insights into the techniques and methodologies used to compare real-world process executions with their corresponding process models. The book starts by introducing the concept of conformance checking and highlighting its significance in assessing the compliance and alignment of actual process executions with intended models. The book explores different perspectives of conformance, including control flow, data, and resource perspectives, providing a comprehensive understanding of the topic. The authors discuss various approaches for evaluating conformance, enabling organizations to assess the adherence of executed processes to the expected behavior as defined by process models. Real-world examples, case studies, and illustrations are provided throughout the book to understand the application of conformance-checking techniques in different industries and domains. Additionally, the authors discuss the limitations and challenges associated with conformance checking, providing readers with a comprehensive overview of the field. 8.Business Process Change: A Business Process Management Guide for Managers and Process Professionals Author: Paul Harmon 'Business Process Change: A Business Process Management Guide for Managers and Process Professionals' offers practical insights and guidance on managing and implementing business process change. This book on business process management serves as a valuable resource for managers and process professionals seeking to improve organizational performance through effective business process management (BPM). Harmon provides a step-by-step approach to understanding, analyzing, and redesigning business processes to drive operational excellence and strategic agility. The book covers a wide range of topics related to business process change, including process identification, analysis, redesign, implementation, and monitoring. The author introduces various methodologies and tools used in BPM, such as process modeling, Six Sigma, Lean, and workflow automation. Harmon's practical approach ensures that the book is accessible to both business professionals and process specialists. Furthermore, the book addresses the human side of process change by discussing change management strategies, stakeholder engagement, and fostering a process-centric culture. 9.High Performance Through Business Process Management: Strategy Execution in a Digital World Author: Mathias Kirchmer 'High Performance Through Business Process Management: Strategy Execution in a Digital World' by Mathias Kirchmer explores the effective utilization of business process management (BPM) to achieve high-performance results. With a focus on aligning BPM with digital transformation initiatives, Kirchmer offers valuable insights into driving strategy execution in today's rapidly evolving business landscape. The book underscores the critical role of BPM in enabling organizations to navigate the challenges posed by the digital age. Readers are provided with practical guidance on developing a BPM strategy that aligns with the overall business strategy. Furthermore, the book delves into BPM's cultural and organizational aspects, recognizing the significance of change management, leadership, and employee engagement. By addressing these crucial factors, organizations can foster a supportive environment for BPM implementation and drive successful strategy execution. Real-world case studies and examples are drawn throughout the book, illustrating how organizations have leveraged BPM to achieve high performance. These practical insights showcase the tangible benefits of implementing BPM in various industries and highlight best practices for success. 10.BPM CBOK Version 4.0: Guide to the Business Process Management Common Body Of Knowledge Authors: Tony Benedict, Mathias Kirchmer, Marc Scarsig, Pater Frantz, Raju Saxena, Dan Morris, Jack Hilty The 'BPM CBOK Version 4.0: Guide to the Business Process Management Common Body Of Knowledge' provides a holistic overview of the common body of knowledge in the field of business process management (BPM). The book aims to establish a shared understanding and framework for BPM by consolidating the collective knowledge and expertise of the authors. The book covers various aspects of BPM and provides insights into the essential concepts, methodologies, techniques, and best practices. Starting with the foundational principles of BPM, including process modeling, analysis, design, and optimization, the authors lay a solid groundwork for readers to grasp the core elements of effective process management. The book also highlights the critical role of technology in BPM and delves into emerging trends in BPM, including the influence of digital transformation, customer experience management, and the integration of artificial intelligence (AI) and robotic process automation (RPA) in process management practices. By addressing these trends, the authors ensure that readers are equipped with insights into the evolving landscape of BPM. Conclusion These featured business process management books in the article serve as invaluable resources for individuals seeking to enhance their knowledge of BPM and leverage its power to drive organizational success. By studying these BPM books, professionals can gain a competitive edge, contribute to process improvement initiatives, and make informed decisions that propel their organizations forward. The practical examples, case studies, and real-world applications shared in these books equip readers with the tools and insights to optimize processes, improve productivity, and achieve operational excellence. As BPM continues to shape the business landscape, these books will remain indispensable references, providing guidance and inspiration for future advancements in the field.

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Marketing and Networking

Fun Team Building Activities to Strengthen Communication at Workplace

Article | March 23, 2022

Small businesses can greatly boost sales and revenue by adopting an analytical approach and successfully implementing relevant e-commerce strategies to establish a strong presence in the digital realm. Contents 1 Importance of E-commerce for SMBs 2 E-commerce Business Development 2.1 Grow a Core Niche 2.2 Choose the Right Platform 2.3 Optimize Product Listings and Pricing 2.4 Target Mobile Audiences 2.5 Integrated Systems 2.6 Develop Effective Marketing Strategy 2.7 Provide Excellent Customer Service 3 Final Thoughts 1. Importance of E-commerce for SMBs The e-commerce market is expected to reach a market valuation of $58.74 trillion by 2028 at a compound annual growth rate (CAGR) of over 26.55%. (Source: SkyQuest). The transformative potential of e-commerce business models has allowed Small and Medium-sized Businesses (SMBs) to expand their sales in both standardized and niche products by leveraging improved website design to connect with consumers remotely, establish brand identity, and tailor products to specific demands. As the e-commerce industry continues to flourish globally, SMBs have unprecedented opportunities to enter the online marketspace. However, it is imperative that aspiring enterprises recognize that a thriving e-commerce small business entails more than just a digital storefront and requires a thoughtful and strategic approach. As noted by the World Development Report 2020 Trading for Development, MSME participation in e-commerce and other digital platforms - such as service delivery in food services, accommodation, and other sectors – can make it easier to sell goods and services, lower costs of entry to markets and costs of doing business, and boost MSME productivity and profits. (Source: World Bank) 2. E-commerce Business Development E-commerce is now essential to modern business operations, particularly for SMBs, who can significantly increase their customer base and revenue with the right tools and strategies. By implementing the discussed steps and insights, SMBs can unlock the full potential of e-commerce and establish themselves as successful players in the digital realm. Thus, SMBS must recognize the vast benefits of e-commerce and equip themselves with the knowledge and resources required to succeed in this competitive landscape. 2.1 Grow a Core Niche A comprehensive understanding of the target customers is fundamental to starting a lucrative small e-commerce business. This necessitates meticulous market research and customer base analysis to discern gaps and potential acquisition opportunities. It is also indispensable to establish a genuine and committed core audience that values exclusive or personalized products. Given the intense competition, it is vital to pinpoint a distinctive product offering and a robust core audience that is enthusiastic about procuring and steadfast in their loyalty. As per a report, there were 2.14 billion online shoppers in 2021, which went up from 1.52 billion in 2016, a 28% increase in just over five years. (Source: SkyQuest) 2.2 Choosethe Right Platform To build a successful online business, choosing the right e-commerce platform and tools is critical. Starting e-commerce businesses must carefully evaluate each option, comparing features, pricing, and usability to make an informed decision that suits their needs and budget. In addition, it's recommended to refrain from reinventing the wheel by creating products that already exist as services, especially if there is a lack of technical expertise. For instance, when targeting consumers, it's better to use available platforms rather than build an e-commerce website from scratch unless there are compelling reasons to do so. 2.3 Optimize Product Listings and Pricing The optimization of product listings and pricing is undeniably critical to the success of small e-commerce businesses. A robust approach that includes clear and informative product descriptions, high-quality images, and videos is essential to attract potential customers. To ensure the seamless discovery of products on the website, it is crucial to utilize clear titles, relevant keywords, and detailed categories & filters. Pricing, on the other hand, requires a meticulous balance between profitability and competitiveness. Therefore, conducting thorough research on competitors' prices is imperative while also considering production, shipping, and overhead costs. Furthermore, dynamic pricing strategies, including seasonal discounts, flash sales, and personalized pricing, can stimulate sales and foster customer loyalty. 2.4 Target Mobile Audiences In order to thrive in the current landscape, small e-commerce businesses must prioritize mobile accessibility, personalization, and engagement. Although several tools are available to assist in achieving these goals, mastering them is crucial to success.Moreover, businesses should ensure their mobile shopping experience is intuitive and user-friendly. This involves having a mobile-responsive e-commerce website, streamlined navigation, and a seamless checkout process. By implementing these measures, businesses can reduce cart abandonment rates and increase revenue. 30% of mobile shoppers abandon a transaction if the shopping experience is not optimized for mobile. (Source: MoPowered) 2.5 Integrated Systems Integrated systems play a crucial role in the success of SMB e-commerce ventures, enabling inventory management, order fulfillment, and customer relationship management through a unified platform. However, conventional tools such as CMS, ERP systems, and e-commerce platforms must be improved for managing product data as businesses grow. Hence, investing in a product information management solution is imperative to ensure seamless product information management across various internal and external channels such as online stores, product catalogs, and ERP systems. 2.6 Develop Effective Marketing Strategy Crafting a comprehensive marketing strategy is paramount to effectively promoting an e-commerce business and reaching its target audience. A robust marketing strategy can be achieved by adopting a multi-faceted approach that entails developing a content marketing plan, launching email marketing campaigns, and leveraging social media marketing to expand the reach and drive traffic to the website. Only 12% of businesses feel that they are using social media effectively. (Source: Harvard Business Review) 2.7 Provide Excellent Customer Service SMB e-commerce businesses' success heavily depends on their ability to provide excellent customer service. To achieve this, organizations must offer multiple communication channels, prioritize customer needs and concerns, and personalize the customer experience. By doing so, they can establish customer loyalty and generate positive word-of-mouth. In addition, regularly evaluating and improving customer service processes is essential to meet customer expectations and needs. 89% of shoppers have stopped buying from online stores after they experienced poor customer service. (Source: RightNow) 3. Final Thoughts The emergence of e-commerce has presented a unique opportunity for SMBs to grow their sales and engage with customers remotely. However, achieving success in the online marketplace requires a strategic approach that enables businesses to compete effectively. To that end, SMBs must formulate and execute a comprehensive plan that encompasses essential aspects of e-commerce, such as creating a user-friendly website, developing a targeted marketing strategy, and streamlining the order fulfillment process. By following these steps and leveraging industry insights, SMBs can leverage the full potential of e-commerce and establish themselves as key players in the digital realm. As e-commerce grows globally, SMBs have an unprecedented opportunity to enter the online marketplace and boost their productivity and profits.

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Marketing and Networking

Imperative Tips for Content Marketing for Small Businesses

Article | December 8, 2021

Connect with industry leaders, learn about latest trends, and gain valuable insights. Stay ahead of the competition, enhance efficiency, and maximize the organization's potential with leading BPM events Organizations across industries constantly seek ways to streamline their operations, optimize efficiency, and deliver exceptional results in the current fast-paced and ever-changing business landscape. This pursuit has led to the rapid growth and increasing significance of Business Process Management (BPM). As more organizations recognize the transformative potential of effective BPM, they are actively engaging in a range of BPM conferences and events dedicated to this field. This article explores some of the top events in the field of BPM that professionals can attend to enhance their understanding of this field and accelerate their business process transformation journeys. These business process management events provide a platform for attendees to gain insights into topics such as process analysis, automation, change management, and integrating BPM into their overall business strategy. By participating in these events, professionals can uncover new possibilities, ignite their transformation journey, and gain a competitive edge in the market. 1.BPM 2023 conference (21st International Conference on Business Process Management) September 11 - 15, 2023 | Utrecht (The Netherlands) The 21st edition of BPM 2023, presented by Utrecht University and University of Applied Sciences Utrecht, stands as a premier conference in the field of Business Process Management. Over the last decade, this esteemed event has solidified its status by curating cutting-edge research and facilitating captivating talks, insightful tutorials, and thought-provoking discussions among leading thought leaders and innovators. This conference will act as a vibrant platform, fostering collaboration among experts from diverse fields such as Computer Science, Information Systems Engineering, and Management, creating a dynamic melting pot of knowledge and expertise. 2. Business Process Transformation Forum September 11 - 13, 2023 | Scottsdale (AZ) Organizations must be agile, innovative, and customer-centric to succeed in today's rapidly evolving business landscape. Continuous adaptation and improvement of business processes are essential to drive growth and thrive in this environment. The Business Process Transformation Forum is the ideal platform for organizations seeking to accelerate their business process transformation journey and connect with peers, thought leaders, and market experts from across the Americas. At this forum, attendees can delve into a wide range of topics critical to driving business process transformation. These will include transforming business processes, leveraging process mining and analysis techniques, and exploring the steps and best practices necessary for continuous process improvement. By embracing these insights, organizations can outperform their competitors in the market and maintain a competitive edge. 3. All Access BPM 2023 September 19 - 20, 2023 | Online The importance of Business Process Management (BPM) cannot be overstated in today's fast-paced business landscape. However, despite the widespread adoption of BPM techniques, only a small fraction of organizations effectively leverage BPM to enhance their business performance. In light of this, the All Access BPM 2023 conference aims to address this gap by offering a comprehensive program focused on key areas such as business architecture, autonomous enterprise, process mining, process intelligence, change management, and workflow automation. By attending this event, participants will gain invaluable insights and innovative strategies directly from industry leaders. One of the primary objectives of All Access BPM 2023 is to guide attendees on integrating BPM into their overall business strategy. This conference will serve as a platform for professionals to stay updated with the latest insights, learn best practices, and discover innovative approaches to maximize the benefits of BPM within their respective organizations. 4.ICBPMPA 2023: 17. International Conference on Business Process Management and Processes Analysis October 09 - 10, 2023 | New York (United States) The International Research Conference is an esteemed federated organization that strives to unite diverse scholarly events for presentation within its comprehensive conference program. With its commitment to delivering high-quality content, the conference provides exceptional value for students, academics, and industry researchers alike. One notable event within the International Research Conference is the International Conference on Business Process Management and Processes Analysis. This conference aims to gather leading academic scientists, researchers, and scholars to foster the exchange and sharing of experiences and research findings related to all aspects of Business Process Management and processes Analysis. Furthermore, this conference will serve as a premier interdisciplinary platform for researchers, practitioners, and educators to showcase and discuss the latest innovations, emerging trends, and concerns in the fields of Business Process Management and Processes Analysis. 5. Enterprise Architecture & Business Process Management Conference Europe October 09 – 12, 2023 | London (UK) The Enterprise Architecture & Business Process Management Conference presents a comprehensive program of four conference tracks, encompassing over 45 sessions and insightful case studies from esteemed organizations. Prominent entities like APG, Bank of England, British Army Recruiting Group in partnership with Capita, Cambridge University Press and Assessment, Department of National Defence, Canada, IBM, IKEA Group, KPMG, and many more contribute their expertise, offering attendees a wealth of knowledge and valuable insights. This BPM event will offer attendees the opportunity to broaden their knowledge through a diverse range of half-day workshops led by world-class instructors. By joining the conference, attendees can learn how to effectively address the challenges organizations face today and in the future, equipping them with the necessary tools to thrive in a dynamic business environment. 6.ICBPMS 2024: 18. International Conference on Business Process Management Systems January 28 - 29, 2024 | New York (United States) The International Research Conference is dedicated to bringing together a diverse array of scholarly events within its comprehensive conference program. These events are scheduled over a span of time, which may vary based on the number and duration of presentations. One of the noteworthy events within the International Research Conference is the International Conference on Business Process Management and Processes Analysis. This conference aims to foster collaboration among leading academic scientists, researchers, and research scholars, providing them with a platform to exchange and share their experiences and research findings encompassing all aspects of Business Process Management and Processes Analysis. The conference will allow attendees to engage in fruitful discussions, gain valuable insights, and establish meaningful connections with experts in their respective fields. 7.BPM 2024 (22nd Business Process Management Conference 2024) September 1 - 6, 2024 | Krakow (Poland) The BPM 2024 is the leading conference for researchers and practitioners in Business Process Management. Over the years, it has earned the reputation of being the go-to gathering for international BPM enthusiasts, attracting a substantial number of attendees annually. Structured across three tracks, namely foundation, engineering, and management, this conference encompasses a comprehensive program. Additionally, it will feature various co-located events, including the doctoral consortium, workshops, forums, demos, and tutorials. As the foremost forum in Business Process Management, this conference will offer a prestigious platform for researchers and practitioners to convene. It will serves as a melting pot, bringing together experts from a range of disciplines, including computer science, information systems engineering, and management. Conclusion The world of Business Process Management (BPM) offers a plethora of opportunities for organizations. As highlighted by the diverse range of BPM events and conferences discussed in this article, professionals in the field have numerous platforms to connect, learn, and share their expertise. These gatherings serve as melting pots for thought leaders, researchers, practitioners, and industry experts. Attendees have the chance to explore cutting-edge research, exchange experiences, and gain valuable insights into the latest trends, challenges, and best practices in BPM. By participating in these BPM events, professionals can broaden their knowledge, strengthen their skill set, and build a strong network of peers. These connections and learnings can contribute to the continuous improvement of business processes within their organizations, leading to increased efficiency, cost reduction, and enhanced overall performance.

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TECHNOLOGY, BUSINESS STRATEGY

Top Tools SMBs Can Leverage to Maximize Their E-commerce Potential

Article | July 11, 2023

Leverage the top e-commerce tools that small and medium-sized businesses (SMBs) can utilize to boost profitability. Maximize your potential with these powerful e-commerce solutions. In today's dynamic business environment, e-commerce presents significant opportunities for small and medium-sized businesses (SMBs) to expand their reach and drive profitability. With global e-commerce sales projected to reach $8.1 trillion by 2026 (Statista), SMBs have a tremendous growth potential. However, resource limitations compared to larger businesses can pose challenges in competing effectively. To overcome these challenges and maximize their potential, SMBs need to leverage cutting-edge e-commerce tools. These tools can enhance their operations and drive accelerated growth. This article will explore the top e-commerce tools that SMBs can strategically utilize to boost profitability and propel their business forward. By harnessing their power, SMBs can optimize their online presence, streamline operations, and achieve sustainable success in the ever-evolving e-commerce industry. 1.WooCommerce WooCommerce is a powerful e-commerce solution built on WordPress, a popular content management system. It enables small and medium businesses to create and manage their online stores effectively. As an open-source platform, it offers extensive customization options and flexibility, allowing businesses to tailor their online stores to their specific requirements and branding. It is important to note that the platform is not a standalone website builder but a plugin that integrates seamlessly with WordPress. The platform also provides a wide range of extensions and add-ons to enhance store functionality and meet specific business needs. With WooCommerce, businesses can manage products, set up payment gateways, handle shipping options, and customize the design and layout of their stores. 2.Semrush Semrush is a leading online visibility management SaaS platform that helps businesses improve their search engine ranking, website traffic, and online visibility. It offers a wide range of features, including keyword research, competitor analysis, and website auditing. Semrush simplifies the process of running online marketing campaigns with its user-friendly interface and intuitive tools. It enables users to easily build, manage, and measure campaigns across various channels, freeing up time for marketing professionals to focus on creativity and content creation while Semrush handles the data and analytics. The platform also includes link building and auditing tools that can improve website visibility and generate organic traffic, helping businesses identify opportunities for improvement and implement effective SEO strategies. 3.Ahrefs Ahrefs is an all-in-one SEO toolset that provides businesses with a comprehensive set of features to optimize their websites and increase search traffic. Its keyword research capabilities allow users to discover relevant keywords, assess their search volume and difficulty, and identify new opportunities. The backlink analysis features provide insights into a website's backlink profile, helping businesses understand the quality and quantity of their backlinks. Ahrefs also offers tools for rank tracking, site audits, content analysis, and competitor analysis, enabling businesses to monitor their search engine rankings, identify technical issues, analyze content performance, and gain insights into competitors' strategies. 4.NAKIVO NAKIVO Backup & Replication is a powerful data protection solution designed for SMBs and enterprises. It offers seamless backup and replication for virtual, physical, and cloud environments, supporting platforms like VMware, Hyper-V, Nutanix AHV, and AWS. With advanced features such as incremental backups, global deduplication, and network acceleration, NAKIVO optimizes storage space and reduces backup windows. Its instant granular recovery ensures quick retrieval of files, application objects, and VMs, minimizing downtime. The solution also provides flexible recovery options and seamless integration with cloud storage for offsite protection. NAKIVO Backup & Replication is a user-friendly and comprehensive solution that enables organizations to securely protect their data and ensure business continuity. 5.Omnisend Omnisend is an all-in-one platform that combines email marketing and SMS capabilities, to help businesses effectively engage and communicate with their customers. It enables businesses to create personalized and targeted campaigns, generate client engagement and reach their audience at the right time and through their preferred channel. The platform offers a wide range of features, including customizable templates, automation workflows, segmentation, and A/B testing, allowing businesses to create compelling and engaging marketing messages. In addition, it provides robust analytics and reporting tools to track campaign performance and measure the impact of marketing efforts. With its user-friendly interface and productive tools, Omnisend empowers businesses to increase conversions and revenue. 6.Veeqo Veeqo is a free shipping and inventory management platform designed to streamline e-commerce operations for businesses of all sizes. Its comprehensive features simplify the process of managing stock levels, automating order fulfillment, and integrating with various sales channels. Veeqo provides real-time visibility into inventory, allowing businesses to efficiently track and manage their products across multiple platforms. The platform also offers reporting and analytics tools to help businesses gain insights into their performance and make data-driven decisions. With its user-friendly interface and powerful functionality, Veeqo empowers e-commerce businesses to optimize their operations, enhance customer experiences, and drive profitability. Final Thoughts The world of e-commerce offers a plethora of powerful tools that small and medium-sized businesses (SMBs) can leverage to significantly increase their profitability. By adopting the right tools and technologies, SMBs can streamline their operations, enhance customer experiences, and ultimately drive revenue growth. The tools discussed in this article, such as Veeqo, Omnisend, and NAKIVO Backup & Replication, offer robust features and functionalities tailored to the unique needs of SMBs. Whether it's efficient inventory management, effective email marketing, or reliable data backup and recovery, these tools provide the necessary capabilities to optimize e-commerce operations and achieve sustainable profitability. It is essential for SMBs to carefully evaluate their specific requirements, explore the available options, and invest in the tools that align with their business goals. By harnessing the power of these top e-commerce tools, SMBs can gain a competitive edge, attract more customers, and ultimately thrive in the digital marketplace.

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AppLovin

AppLovin is a leading mobile marketing platform that helps the world's largest brands reach over two billion consumers globally with relevant content. The platform provides marketing automation that allows brands to acquire new consumers on mobile apps.

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MARKETING AND NETWORKING, TECHNOLOGY

MSUFCU and Nymbus Unite to Elevate Services for SMBs: A Transformative Collaboration Focused on Meeting Needs of Small and Medium Businesses

Businesswire | August 03, 2023

Nymbus, a premier provider of cloud-based financial technology solutions, is proud to announce that Michigan State University Federal Credit Union (MSUFCU) has partnered with Nymbus to deliver Nymbus SMB, a feature-rich, compliant, “bank in a box” solution designed to enable Credit Unions to serve the rapidly growing Small and Medium Business (SMB) market. Recognizing the dominance of three megabanks that hold 47% of the market and the significantly smaller market share of community banks and credit unions at just 18%, Nymbus has identified a pressing need for its Nymbus SMB initiative to help level the playing field and amplify the competitiveness of credit unions. The collaboration between MSUFCU and Nymbus will pioneer a next-generation approach, enabling credit unions and regional banks to gain an edge in the intensifying SMB banking market. Through this partnership, Nymbus and MSUFCU are stepping up to fill the void left by traditional banking tech providers, which have struggled to evolve and adequately equip credit unions to capitalize on emerging market opportunities such as the rapidly expanding SMB sector. In the wake of its recent $70 million Series D funding round—where MSUFCU also participated as an investor—Nymbus is ramping up its support for credit unions, working diligently to bridge the digital divide. Through its Nymbus SMB solution, Nymbus equips credit unions with essential digital tools to better serve SMBs, consequently expanding their market presence and establishing them as key strategic partners for SMB growth. This solution includes cost-effective services like invoicing, cash management tools, cash flow analytics and a modern digital banking platform operating through a standalone technical infrastructure. Jeffery Kendall, CEO of Nymbus, expressed his enthusiasm about the collaboration. "This partnership represents a pivotal opportunity for credit unions as we equip them with the modern tools and services they need to effectively meet the needs of the growing SMB market," Kendall said. "Our Nymbus SMB solution is a game changer that delivers value and fills the gap left by legacy credit union technology providers." April Clobes, President and CEO of MSUFCU, also shared her insights. "Aligning with Nymbus on this vital project is a strategic move for MSUFCU, as it allows us to enhance our product offerings and deliver top-tier services to small business owners. Through this collaboration, we’re showing our dedication to the businesses that are the connectors of our communities,” remarked Clobes. The partnership with MSUFCU underscores Nymbus’ position as a frontrunner in the fintech arena, understanding that credit unions can serve small and medium businesses at a lower cost than the current market offerings and with a level of service that keeps those costs down. Nymbus continues redefining the future of financial services, fostering growth and creating unparalleled value for credit unions and the small business community. About Nymbus: Nymbus has disrupted the financial services market as an alternative to legacy business models. With Nymbus, any size financial institution can quickly launch a full-service digital bank or migrate to our award-winning core. Whichever growth strategy is right for you, Nymbus buys back decades of lost time to engage and support the entire digital customer journey. About MSUFCU: Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions in Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 24 branches, nearly 350,000 members, more than $7.5 billion in assets, and nearly 1,100 employees.

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MANAGEMENT

DigitalOcean Launches Managed Kafka Offering

Business Wire | September 27, 2023

DigitalOcean Holdings, Inc., the cloud for startups and SMBs, today announced the launch of DigitalOcean Managed Kafka, a new, fully managed data streaming platform as a service offering for Apache Kafka. DigitalOcean Managed Kafka helps small and medium-sized businesses across industries, including video streaming, the Internet of Things (IoT), data analytics, gaming, and eCommerce, access and process data streams in real time while eliminating the complexity associated with the Kafka administration. Through this offering and other enhancements across DigitalOcean’s portfolio, startups and tech entrepreneurs can more easily grow their businesses in the cloud. “While Kafka is the gold standard for data streaming, it frequently presents technical challenges for smaller businesses with budget and resource limitations. We are excited to introduce a solution that makes this technology more accessible and meets DigitalOcean’s standard for simplicity,” said Megan Wood, Chief Strategy & Product Officer at DigitalOcean. “By reducing the burden of implementing a new platform, companies can shift their focus away from the complexity of managing their data streaming services and get back to building apps that differentiate their business.” As businesses receive higher amounts of data inputs, the ability to rapidly capture and process this data becomes crucial. Thousands of companies, including over 80% of Fortune 100 companies, rely on Kafka to optimize their data streams and provide leaders with insights that inform decision-making. With DigitalOcean Managed Kafka, startups and SMBs can benefit from the ability to scale up and down clusters with ease while setting up alerts for proactive maintenance. Additionally, DigitalOcean customers can expect end-to-end security via private networking and data encryption along with cost-effective, predictable pricing starting at $147 for a three-node cluster. “DigitalOcean's Managed Kafka offering has been a game-changer for us at Datacake,” said Lukas Klein, Chief Technical Officer at Datacake. “By taking care of the operational aspects of running our Kafka cluster, we have been able to focus our attention on what really matters – building a great product. With this new service, we were able to migrate seamlessly to an event-based architecture while maintaining the highest levels of operational security.” Alongside DigitalOcean Managed Kafka, DigitalOcean has been making investments in its product and infrastructure offerings to provide peace of mind, increased productivity, and more affordable solutions to SMBs and startups. Some of those recent updates include: GPUs with the acquisition of Paperspace-The computing power needed for training AI models and deploying at scale Premium CPU-Optimized Droplets-Higher outbound network speeds, higher performance, and faster disk writes than standard Droplets Enhanced memory and storage for Basic Premium Droplets-More flexibility with a wider choice of virtual machines Low-cost support plans for every size of business-Eight-hour response times for all issues, regardless of severity Object Storage in the Bangalore data center-Increased performance with compute and storage in one location In addition, over the coming quarters, DigitalOcean will unveil the following enhancements and capabilities to continue to make DigitalOcean the cloud of choice for SMBs and startups: More flexible storage offerings -Effortlessly accommodate dynamic storage requirements with Scalable Storage for Managed Databases, a cost-effective solution that helps businesses expand their data footprints with confidence Faster, frequent, and comprehensive Backups -Ability to create daily Droplet backups that are differential, significantly reducing the time required to create them Better performance for a range of products -Extending the premium variant to the General Purpose line of Droplets, providing newer generation CPUs, faster NVME drives, and up to 10 Gbps of outbound data transfer speeds making them ideal for running e-commerce, consumer, and SaaS apps About DigitalOcean DigitalOcean simplifies cloud computing so builders and businesses can spend more time creating software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers at startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale, whether creating a digital presence or building digital products. DigitalOcean combines the power of simplicity, security, community and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth.

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FINANCE

Credibly Partners with Green Dot to Power Small Businesses with Simple, Seamless and Accessible Banking Solutions

Business Wire | September 29, 2023

Credibly, the data science-driven fintech lending platform that champions small- and medium-sized businesses (SMBs), is partnering with Green Dot to expand its suite of small business financial products to include accessible, intuitive and useful business banking solutions. Powered by Green Dot’s banking-as-a-service (BaaS) platform, Credibly Business Banking® will give small business owners a more seamless banking experience while addressing some of their greatest challenges with quick and easy account set up, improved cash flow management, and faster access to capital. “The demand for seamless, accessible and intuitive financial tools for businesses remains on the rise, and we are thrilled to partner with Green Dot to add small business banking to complement our lending solutions,” said Ryan Rosett, Founder and co-CEO, Credibly. “With a business checking account, customers will have faster and easier access to the cash, credit and capital they need to run and grow their business.” The U.S. continues to see a surge in new business ventures, with five million applications to start new businesses in 2022, up 42 percent from pre-pandemic levels in 2019, according to the Census Bureau. Yet more than three-quarters of small business owners say they are concerned about their ability to access capital, according to Goldman Sachs’ 10,000 Small Businesses Voices initiative, which is no surprise given 70 percent of small business owners without a business bank account are rejected for loans. Green Dot and Credibly are partnering to design business bank accounts with these challenges in mind, empowering them to more easily access the capital they need. The new accounts will feature online mobile banking with full customer service support, quick account set up, no fees for eligible deposits, overdraft protection, and a nationwide ATM network to access their money from anywhere. “Small businesses are a critical engine for economic growth, and we want to give them the power to bank seamlessly, affordably and with confidence,” said Simran Singh, Head of Enterprise Business Development, Embedded Finance, Green Dot. “We are thrilled to partner with Credibly to power entrepreneurs with solutions that save them time and provide easier access to the tools and capital they need to grow their businesses.” Green Dot is well positioned to enable Credibly to offer small business customers a quality business banking experience through its scalable and configurable BaaS platform, dedicated customer support team, and decades of experience building embedded finance offerings for some of the world’s largest brands. The Credibly Business Checking® offering is just one of multiple new product launches the company has on its roadmap. As Credibly continues to grow its product suite, the company remains focused on further refining its data science capabilities to serve an even broader range of SMB customers throughout the credit spectrum, while maintaining its emphasis on risk management and a strong culture of compliance. Providing the tools and resources SMBs need has been Credibly’s mission since 2010 and the new business banking offering in particular will enable them to support small business owners who have been unable to receive lending without having an existing business bank account. About Green Dot Green Dot Corporation is a financial technology and bank holding company committed to giving all people the power to bank seamlessly, affordably and with confidence. Green Dot's technology platform enables it to build products and features that address the most pressing financial challenges of consumers and businesses, transforming the way they manage and move money, and making financial empowerment more accessible for all. Green Dot offers a broad set of financial services to consumers and businesses, ranging from debit, prepaid and payroll cards, to embedded financial and money movement services, to tax products and more. The company’s banking-as-a-service (BaaS) platform enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy seamless, configurable, value-driven money management solutions for their customers. Its digital bank GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. And its expansive Green Dot Network of more than 90,000 retail distribution locations nationwide – more than all remaining bank branches in the U.S. combined – enables it to operate primarily as a "branchless bank." About Credibly Credibly, a data science-driven fintech lending platform, is revolutionizing the delivery of capital to SMBs, enhancing speed, cost and customer choice. Offering an array of funding options, Credibly also provides partners access to its state-of-the-art data science capabilities. Since its inception in 2010, Credibly has channeled over $2.0 billion in capital to more than 30,000 SMBs, always with an unwavering commitment to risk management and a culture of compliance. Credibly also made history in 2017 as the first company in its field to acquire servicing rights to another alternative lender’s portfolio (250M). The company has achieved steady growth, operated continuously throughout the COVID-19 pandemic, and recorded exceptional origination numbers.

Read More

MARKETING AND NETWORKING, TECHNOLOGY

MSUFCU and Nymbus Unite to Elevate Services for SMBs: A Transformative Collaboration Focused on Meeting Needs of Small and Medium Businesses

Businesswire | August 03, 2023

Nymbus, a premier provider of cloud-based financial technology solutions, is proud to announce that Michigan State University Federal Credit Union (MSUFCU) has partnered with Nymbus to deliver Nymbus SMB, a feature-rich, compliant, “bank in a box” solution designed to enable Credit Unions to serve the rapidly growing Small and Medium Business (SMB) market. Recognizing the dominance of three megabanks that hold 47% of the market and the significantly smaller market share of community banks and credit unions at just 18%, Nymbus has identified a pressing need for its Nymbus SMB initiative to help level the playing field and amplify the competitiveness of credit unions. The collaboration between MSUFCU and Nymbus will pioneer a next-generation approach, enabling credit unions and regional banks to gain an edge in the intensifying SMB banking market. Through this partnership, Nymbus and MSUFCU are stepping up to fill the void left by traditional banking tech providers, which have struggled to evolve and adequately equip credit unions to capitalize on emerging market opportunities such as the rapidly expanding SMB sector. In the wake of its recent $70 million Series D funding round—where MSUFCU also participated as an investor—Nymbus is ramping up its support for credit unions, working diligently to bridge the digital divide. Through its Nymbus SMB solution, Nymbus equips credit unions with essential digital tools to better serve SMBs, consequently expanding their market presence and establishing them as key strategic partners for SMB growth. This solution includes cost-effective services like invoicing, cash management tools, cash flow analytics and a modern digital banking platform operating through a standalone technical infrastructure. Jeffery Kendall, CEO of Nymbus, expressed his enthusiasm about the collaboration. "This partnership represents a pivotal opportunity for credit unions as we equip them with the modern tools and services they need to effectively meet the needs of the growing SMB market," Kendall said. "Our Nymbus SMB solution is a game changer that delivers value and fills the gap left by legacy credit union technology providers." April Clobes, President and CEO of MSUFCU, also shared her insights. "Aligning with Nymbus on this vital project is a strategic move for MSUFCU, as it allows us to enhance our product offerings and deliver top-tier services to small business owners. Through this collaboration, we’re showing our dedication to the businesses that are the connectors of our communities,” remarked Clobes. The partnership with MSUFCU underscores Nymbus’ position as a frontrunner in the fintech arena, understanding that credit unions can serve small and medium businesses at a lower cost than the current market offerings and with a level of service that keeps those costs down. Nymbus continues redefining the future of financial services, fostering growth and creating unparalleled value for credit unions and the small business community. About Nymbus: Nymbus has disrupted the financial services market as an alternative to legacy business models. With Nymbus, any size financial institution can quickly launch a full-service digital bank or migrate to our award-winning core. Whichever growth strategy is right for you, Nymbus buys back decades of lost time to engage and support the entire digital customer journey. About MSUFCU: Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions in Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 24 branches, nearly 350,000 members, more than $7.5 billion in assets, and nearly 1,100 employees.

Read More

MANAGEMENT

DigitalOcean Launches Managed Kafka Offering

Business Wire | September 27, 2023

DigitalOcean Holdings, Inc., the cloud for startups and SMBs, today announced the launch of DigitalOcean Managed Kafka, a new, fully managed data streaming platform as a service offering for Apache Kafka. DigitalOcean Managed Kafka helps small and medium-sized businesses across industries, including video streaming, the Internet of Things (IoT), data analytics, gaming, and eCommerce, access and process data streams in real time while eliminating the complexity associated with the Kafka administration. Through this offering and other enhancements across DigitalOcean’s portfolio, startups and tech entrepreneurs can more easily grow their businesses in the cloud. “While Kafka is the gold standard for data streaming, it frequently presents technical challenges for smaller businesses with budget and resource limitations. We are excited to introduce a solution that makes this technology more accessible and meets DigitalOcean’s standard for simplicity,” said Megan Wood, Chief Strategy & Product Officer at DigitalOcean. “By reducing the burden of implementing a new platform, companies can shift their focus away from the complexity of managing their data streaming services and get back to building apps that differentiate their business.” As businesses receive higher amounts of data inputs, the ability to rapidly capture and process this data becomes crucial. Thousands of companies, including over 80% of Fortune 100 companies, rely on Kafka to optimize their data streams and provide leaders with insights that inform decision-making. With DigitalOcean Managed Kafka, startups and SMBs can benefit from the ability to scale up and down clusters with ease while setting up alerts for proactive maintenance. Additionally, DigitalOcean customers can expect end-to-end security via private networking and data encryption along with cost-effective, predictable pricing starting at $147 for a three-node cluster. “DigitalOcean's Managed Kafka offering has been a game-changer for us at Datacake,” said Lukas Klein, Chief Technical Officer at Datacake. “By taking care of the operational aspects of running our Kafka cluster, we have been able to focus our attention on what really matters – building a great product. With this new service, we were able to migrate seamlessly to an event-based architecture while maintaining the highest levels of operational security.” Alongside DigitalOcean Managed Kafka, DigitalOcean has been making investments in its product and infrastructure offerings to provide peace of mind, increased productivity, and more affordable solutions to SMBs and startups. Some of those recent updates include: GPUs with the acquisition of Paperspace-The computing power needed for training AI models and deploying at scale Premium CPU-Optimized Droplets-Higher outbound network speeds, higher performance, and faster disk writes than standard Droplets Enhanced memory and storage for Basic Premium Droplets-More flexibility with a wider choice of virtual machines Low-cost support plans for every size of business-Eight-hour response times for all issues, regardless of severity Object Storage in the Bangalore data center-Increased performance with compute and storage in one location In addition, over the coming quarters, DigitalOcean will unveil the following enhancements and capabilities to continue to make DigitalOcean the cloud of choice for SMBs and startups: More flexible storage offerings -Effortlessly accommodate dynamic storage requirements with Scalable Storage for Managed Databases, a cost-effective solution that helps businesses expand their data footprints with confidence Faster, frequent, and comprehensive Backups -Ability to create daily Droplet backups that are differential, significantly reducing the time required to create them Better performance for a range of products -Extending the premium variant to the General Purpose line of Droplets, providing newer generation CPUs, faster NVME drives, and up to 10 Gbps of outbound data transfer speeds making them ideal for running e-commerce, consumer, and SaaS apps About DigitalOcean DigitalOcean simplifies cloud computing so builders and businesses can spend more time creating software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers at startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale, whether creating a digital presence or building digital products. DigitalOcean combines the power of simplicity, security, community and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth.

Read More

FINANCE

Credibly Partners with Green Dot to Power Small Businesses with Simple, Seamless and Accessible Banking Solutions

Business Wire | September 29, 2023

Credibly, the data science-driven fintech lending platform that champions small- and medium-sized businesses (SMBs), is partnering with Green Dot to expand its suite of small business financial products to include accessible, intuitive and useful business banking solutions. Powered by Green Dot’s banking-as-a-service (BaaS) platform, Credibly Business Banking® will give small business owners a more seamless banking experience while addressing some of their greatest challenges with quick and easy account set up, improved cash flow management, and faster access to capital. “The demand for seamless, accessible and intuitive financial tools for businesses remains on the rise, and we are thrilled to partner with Green Dot to add small business banking to complement our lending solutions,” said Ryan Rosett, Founder and co-CEO, Credibly. “With a business checking account, customers will have faster and easier access to the cash, credit and capital they need to run and grow their business.” The U.S. continues to see a surge in new business ventures, with five million applications to start new businesses in 2022, up 42 percent from pre-pandemic levels in 2019, according to the Census Bureau. Yet more than three-quarters of small business owners say they are concerned about their ability to access capital, according to Goldman Sachs’ 10,000 Small Businesses Voices initiative, which is no surprise given 70 percent of small business owners without a business bank account are rejected for loans. Green Dot and Credibly are partnering to design business bank accounts with these challenges in mind, empowering them to more easily access the capital they need. The new accounts will feature online mobile banking with full customer service support, quick account set up, no fees for eligible deposits, overdraft protection, and a nationwide ATM network to access their money from anywhere. “Small businesses are a critical engine for economic growth, and we want to give them the power to bank seamlessly, affordably and with confidence,” said Simran Singh, Head of Enterprise Business Development, Embedded Finance, Green Dot. “We are thrilled to partner with Credibly to power entrepreneurs with solutions that save them time and provide easier access to the tools and capital they need to grow their businesses.” Green Dot is well positioned to enable Credibly to offer small business customers a quality business banking experience through its scalable and configurable BaaS platform, dedicated customer support team, and decades of experience building embedded finance offerings for some of the world’s largest brands. The Credibly Business Checking® offering is just one of multiple new product launches the company has on its roadmap. As Credibly continues to grow its product suite, the company remains focused on further refining its data science capabilities to serve an even broader range of SMB customers throughout the credit spectrum, while maintaining its emphasis on risk management and a strong culture of compliance. Providing the tools and resources SMBs need has been Credibly’s mission since 2010 and the new business banking offering in particular will enable them to support small business owners who have been unable to receive lending without having an existing business bank account. About Green Dot Green Dot Corporation is a financial technology and bank holding company committed to giving all people the power to bank seamlessly, affordably and with confidence. Green Dot's technology platform enables it to build products and features that address the most pressing financial challenges of consumers and businesses, transforming the way they manage and move money, and making financial empowerment more accessible for all. Green Dot offers a broad set of financial services to consumers and businesses, ranging from debit, prepaid and payroll cards, to embedded financial and money movement services, to tax products and more. The company’s banking-as-a-service (BaaS) platform enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy seamless, configurable, value-driven money management solutions for their customers. Its digital bank GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. And its expansive Green Dot Network of more than 90,000 retail distribution locations nationwide – more than all remaining bank branches in the U.S. combined – enables it to operate primarily as a "branchless bank." About Credibly Credibly, a data science-driven fintech lending platform, is revolutionizing the delivery of capital to SMBs, enhancing speed, cost and customer choice. Offering an array of funding options, Credibly also provides partners access to its state-of-the-art data science capabilities. Since its inception in 2010, Credibly has channeled over $2.0 billion in capital to more than 30,000 SMBs, always with an unwavering commitment to risk management and a culture of compliance. Credibly also made history in 2017 as the first company in its field to acquire servicing rights to another alternative lender’s portfolio (250M). The company has achieved steady growth, operated continuously throughout the COVID-19 pandemic, and recorded exceptional origination numbers.

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