The workforce is fractured. This is how leaders need to bring people together

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Compassion and humanity will be key at all levels to knitting back together a psychologically fractured workforce. For most businesses, the early stages of the coronavirus pandemic were a sprint. Digital transformation that would have taken years was completed in days, as vast swathes of the workforce began to work from home. Retailers and hospitality outlets switched to delivery-only models. In the U.K., HR professionals and business owners grappled with the complexities of the Coronavirus Job Retention Scheme, enabling them to furlough staff rather than let them go, with the government paying 80% of the wage bill. In the U.S., Paycheck Protection Program loans meant to enable small businesses to keep workers on the payroll were challenging to navigate , if they were able to get the funds at all. Read Full Story

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What leading consultants say about the usage of automation in marketing

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30-second summary: As per the CMO Survey Report 2020 by Deloitte, the implementation of AI and machine learning is likely to grow in three years to 3.5. As per an article by McKinsey & Company, organizations introducing technology to sales can find ways that deliver double-digit gains in return-on-investment. Automation is possible in 30% of sales activities. The most recent AI survey by Bain and Company analyzed that organizations that make use of AI were 4.2 times more likely to have access to standard tools and technologies than the others. A study co-sponsored by EY in 2020 revealed that 85% of participants have already implemented AI within their organizations and expect to use AI for new use cases in the coming years. According to a survey by Accenture, around 83% of more than 6,000 businesses accepted that technology is a crucial part of the human experience. As per a recent …

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How COVID-19 has dramatically changed business at Volvo, and what they’re doing about it

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30-second summary: ClickZ hosted a webinar, The Impact of COVID-19 on the Automotive Industry & Marketing with Trevor Hettesheimer, Manager, KPI’s, Analytics, Search & Planning at Volvo. There has been a sharp drop in automotive sales compared to the 2020 forecast in January, which predicted 16.8 million in total sales and 13.4 million in retail sales. As a result of nationwide shutdowns combined with an oil price war, automotive industry sales were down 41% in March 2020 compared with the previous year. To help mitigate the impact on its business, Volvo took inventory of their U.S. dealerships and assessed who could remain open for sales and service. They then assessed what dealers could do business online and brainstormed ways they could safely deliver cars or allow consumers in lockdown to have their cars serviced. Hettesheimer noted that the most significant drop in sales would likely be April at 60-80% below …

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The cost of complexity: ClickZ’s advisory board discuss the latest trends in martech

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30-second summary: COVID-19 has caused a seismic shift in digital operations and consumer behavior, leading to an acceleration in digital transformation. commerce penetration grew from 16% to 27% over an eight-week period this year, for example, fundamentally changing the way retailers sell goods. As martech players emerge to address increased shifts to digital, companies are caught in the middle of an explosion of complexity, trying to figure out how best to leverage new technology with little time to plan. The digital skills gap has widened with the increased rate of digital transformations. Businesses are scrambling to find talent that has experience across ad tech, martech and data.. Sales and marketing alignment has become even more important as teams balance decreasting marketing budgets and increase in pressure to deliver more sales with less to keep the business alive. The cost of complexity is high when companies purchase technologies they don’t use, …

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Understanding the role of voice in martech

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30-second summary: Voice technology is being widely adopted, thanks to the global distribution of voice assistants like Google Assistant, which is installed in over 1 billion devices as of 2020. Improvement in voice recognition accuracy is also helping with widespread adoption of voice technology. Google achieved a 95% accuracy rate for the English language as of March 2017. This is the same threshold for human accuracy. 82% of consumers expect an immediate response on sales or marketing. Voice recognition technology, which enables the immediacy of customer service responses, is addressing this need for many businesses. Voice-enabled tools are increasingly being employed within an organization’s martech stack, to facilitate internal operations. Examples include speech-to-text transcription tools, real-time conversational analysis, and automated call listening/conversational analysis platforms. Voice technology is playing an ever-growing role in a variety of martech applications, from AI-powered transcription tools like Trint to signal-based AI tools like Cogito that …

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How Miracle-Ear used conversational AI to reach customers during a pandemic

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30-second summary: Companies with large franchises in locations distributed across multiple states, face significantly different obstacles and experiences that other businesses. Nataly Huff, the Director of Digital Marketing for Amplifon, discussed about how they combined Invoca’s AI-driven call platform with Amplifon’s BI systems, to address the needs of customers across multiple Miracle-Ear store locations during the pandemic. Invoca analyzes caller data at scale, enabling Huff’s team to determine which states had stores open and where to allocate marketing spend to help drive foot traffic. Invoca’s data was integrated into Amplifon’s business intelligence systems, enabling them to understand down-funnel performance of their channels and campaigns. Amplifon adjusted their marketing based on regional regulations and consumer confidence and made sure that supporting their customers was always front and center. Between consumer sentiment recovery and decreased inventory pressure, Amplifon was able to maintain their overall marketing investment and drive business, while making sure …

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Adapting to the new normal: Video content strategy after COVID-19

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30-second summary: Video is now ‘the new normal enabler’ connecting brands and customers when offline interactions are still far from reverting to normal. Videos are bridging the gap for informing, educating, engaging, entertaining, and socializing with customers. Low-budget videos are now the it-thing of the video marketing industry – they look nothing like ads or promotional videos customers are likely to skip. Companies are expected to join the global conversation and express what matters to people behind the brand. And videos are a great tool for touching upon this conversation and revealing what the brand stands for as mere “We’re all in this together” message will not cut it. Although not a new trend, the popularity of live streams has soared due to COVID-19. Yes, while WFH, people tend to get distracted with their devices and watch a live stream. Not only stock markets are up – stock footage is …

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Cardlytics combines ad tech with fintech to create a unique walled garden for advertisers

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30-second summary: Atlanta-based Cardlytics is an ad platform that operates within banks’ native digital channels. Cardlytics brings the worlds of ad tech and fintech together within a fraud-free and brand-safe environment, offering a high degree of trust. Cardlytics boasts an audience within the US of more than 125M monthly active users. Larger than Snap, Twitter, and Pinterest. The Cardlytics platform enables banks to send offers to their end customers and enrich the banking experience by getting cash back. Advertisers can show ads to potential customers to motivate online and in-store purchases, and they’re also able to give their customers cash back. Cardlytics sees 1 in 2 of all credit and debit card swipes in the US, which enables them to understand how a bank user engaged with an offer through the platform and then went on to make a purchase. Cardlytics has helped customers get back nearly half a billion …

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How to help local businesses crushed by coronavirus: 4 things you can do right now

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Many local businesses may not survive the coronavirus pandemic. Your favorite shop may be among them. Imagine, for a moment, that you’re one of the small business owners in your neighborhood, facing payroll and a rent bill in two weeks with little or no income. It’s apocalypse times. Over a third of Seattle businesses say they may need to close . It’s time for us all to do our parts. Here’s how: Read Full Story

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