Wednesday, February 28, 2018

ZenBusiness Wants to Make it Easier for One Million Small Businesses to Get Started by 2023

Austin-based company ZenBusiness has secured $4.5 million in seed money, thanks to numerous angel investors. The startup is also embarking on the lofty goal of assisting one million businesses get started.

ZenBusiness, which began operations in 2015, helps small business get off on the right foot by assisting with legal documents. The company will inform clients of each and every form required by the state and the reports that have to be filed yearly. This will undoubtedly be a big boon to first-time business owners and entrepreneurs, as the process and requirements of launching a small business differ per state.

The corporate creation and management company is offering a fast, easy and affordable alternative to the complicated process of filing legal and business documents. ZenBusiness will provide clients a set of questions to answer that will determine the business they want to start. The business platform then creates and files all the needed documents for free, except for the state-mandated fees. What's more, this is all accomplished in as little as 48 hours.

Company owners can also avail of the $10 monthly package that lets ZenBusiness become the business' registered agent and allows them to handle “annual filings, franchise tax, all of the red tape around an entity.” The company is also open to paying any potential fines in the event that they have been remiss with any of the documents. The payment will be taken from the $4.5 million seed money from investors Lerer Hippeau, Greycroft, Slow Ventures, Founders Fund, and Revolution's Rise of the Rest.

ZenBusiness founder Ross Buhrdorf explains that their platform and affordable pricing ensures that every small business owner has the “resources and protection they need to turn their business dreams and ideas into reality.” Burhdorf has also set a very lofty goal for the company, that of helping develop one million small businesses by the year 2023. This roughly translates to 2.5 million new jobs for Americans and over $100 billion in income for workers.

[Featured image via Pexels]

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Social Media App Vero is So Popular it Might Kill Facebook and Instagram

There is a new social media app in town that’s been making waves recently.  If you happen to use Twitter and Facebook, you may have noticed a lot of recent buzz over an app called Vero.

Vero, which is the Latin word for "Truth," is a photo-sharing social media app created by the Lebanese billionaire, Ayman Hariri. The app was actually launched in 2015, but it gained a flurry of new users over the weekend after several social media influencers posted that they would start using it.  In fact, the surge in traffic was so high that the app reportedly crashed in some areas.

Only a week ago, Vero was a little-known app that didn't even rank in the App Store's top 1500 apps. It has since skyrocketed to the top.

Apart from its endorsement from social media influencers, Vero's sudden appeal seems to due to the growing user dissatisfaction with Facebook’s service. Lately, Facebook has been criticized for a number of issues such as the spread of fake news on its platform, its user targeting techniques as well as the questionable algorithms governing its News Feed.

And Vero was only too happy to use its rival’s current woes to its advantage, branding itself as the "Facebook killer" with a less cluttered appearance and better user experience.

To distance itself from its competitors, Vero claims to offer a “social network that lets you be yourself." In its manifesto, Vero laments that “most social networks reduce everyone to a friend or a follower” which encourages people to share only the parts of their lives they think is the most interesting.

Vero’s brand positioning seems to be working. Not only is Facebook losing users to the newcomer,  but Instagram users are switching to Vero as well is losing users as well. Some people are even calling Vero the "new Instagram."

One feature that distinguishes Vero from other social media platforms is that it has no mysterious algorithm in place for what users see when they open the app. User feeds on Vero are easier to follow as they show posts in a chronological order.

In addition, the app promises a more gentle approach to how it collects user data. According to its manifesto, "Vero only collects the data we believe is necessary to provide users with a great experience and to ensure the security of their accounts."

But users should expect such “perks” to come with a tradeoff. Unlike Facebook or Instagram, Vero charges a fee to use its platform, which might not turn off some users in the long run.

[Featured image via YouTube]

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Net Neutrality Repeal Takes Effect in April, States are Fighting Back with Last-Minute Lawsuits

The days of net neutrality are numbered. The Federal Communications Commission (FCC) has finally set April 23 as the date when the Obama-era regulations will cease to take effect according to a copy of the order published on Thursday with the Federal Register. But of course, various net neutrality supporters are not going to take this one lying down and are expected to file lawsuits as a last-ditch effort to challenge the repeal.

Net neutrality regulations were put in place during the Obama administration to ensure that all internet traffic is treated equally. With this safeguard in place, broadband companies can’t just slow down or block traffic from certain sites or prioritize other sites when it comes to bandwidth allocation. In addition, internet service providers are barred from accepting money to prioritize certain companies’ websites and make them more accessible to customers.

Since broadband companies and ISPs act more or less as the net’s gatekeepers, the rules are seen by their supporters as a way to deter abuse of this power. Big tech companies such as Twitter, Google, and Facebook were supportive of net neutrality while big telecom firms such as Verizon, Comcast, and AT&T opposed the regulations and clamored for their repeal.

Net neutrality opponents scored a major victory last December when FCC voted 3-2 to have the laws repealed. However, supporters are expected to fight back by filing lawsuits questioning the repeal. In fact, attorneys general in more than 20 states, as well as tech companies such as Mozilla, have already filed lawsuits last month to stop the repeal from taking effect. They are expected to refile their lawsuits within 10 days after FCC’s order was published in the Federal Register.

Congress is given a 60 day period to pass a resolution to reverse FCC’s repeal. Democrats, who support net neutrality, say that they already have 50 votes in the Senate and lack only one more to pass the bill. Such a bill might face a tough time in the House of Representatives considering that Republicans control a larger majority.

However, some states are not waiting for a vote on the bill and have passed net neutrality laws within their areas. For instance, New Jersey, New York, and already have their own net neutrality policies that ISPs need to adhere to.

[Featured image via Pixabay]

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Will Trump Tax Cuts Benefit Your Small Business?

Small businesses are feeling very optimistic these days, with a record number believing it's the perfect time to expand. The positive outlook has reportedly been fueled by the changes instituted by the Trump administration's tax-reform package.

Survey Says It's a Good Time for Small Businesses

According to a survey released by the CNBC and Survey Monkey, the Small Business Confidence Index for Q1 saw numbers rise from 57 to 62. The five-point increase is the largest move per quarter that the index has seen since the two companies started measuring in 2017.

The CNBC/SurveyMonkey Survey also highlighted several key takeaways. For instance, 47 percent of small businesses stated that on the whole, business conditions are good. Only 44 percent believed that last quarter. The survey also revealed that 32 percent of small business owners are planning to add more full-time workers in 2018.

How the New Tax Law Affects Small Businesses

It should be pointed out that the Q1 survey is the first done since President Donald Trump enacted the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The rise in optimism and confidence is quite the surprise, considering that in the Q4 2017 survey, small-business owners were split in the middle regarding the effect the tax law would have on their business. Now it seems that 46 percent of those surveyed believe Trump's tax policy will have a positive impact; an impressive jump from the 38 percent of last quarter.

What kind of impact will the new tax law have on SMBs? The final iteration of the bill allow pass-throughs of as much as 20 percent of the income. However, these deductions depend on the type of business.

In personal service businesses, like lawyers, architects, and brokers, the 20 percent deduction is only permitted for married partners that filed joint incomes of as much as $315,000. Meanwhile, the deduction is allowed for single taxpayers with incomes of up to $157,000.

For businesses that are employee intensive, like manufacturers and restaurants, the deductions depend on the payroll. The 20 percent deduction is actually confined to 50 percent of the payroll. So companies with a lot of workers get a big break. The new tax law basically gives these businesses a good reason to expand and hire new people.

Last December, Adam Looney of the Tax Policy Center was interviewed on PBS's News Hour where he explained how the 'pass-throughs' would work for small business.

Benefits of Tax Cuts to Small and Medium Sized Businesses

The TCJA appears to have a trickle-down effect on consumers and small businesses. The higher take-home pay and bonuses resulting from the new tax law have given consumers more spending confidence. This was clearly seen during last year's holiday season.

This consumer confidence is a good sign for small and medium-sized business. With increased spending, these companies can generate more revenue that they can use to either improve the business or pay off creditors. For instance, savvy business owners can take steps to improve their credit rating, like paying their bills immediately.

Companies with improved credit ratings have access to more capital. This can be beneficial to owners thinking of expanding operations, improving an office, buying new equipment, or refinancing a debt.

More importantly, a positive credit score makes it possible for entrepreneurs to apply for small business funding with banks. These traditional lenders typically look more closely at credit scores. They can also offer small businesses better terms and rates. For example, instead of paying 20 percent interest on a credit card, a businessman can get capital at 8 percent interest which can be used to pay off debt and place the company in a healthier space, finance wise.

Small businesses certainly have a lot to look forward to now that the TCJA is in effect. However, the changes introduced in this new law can be challenging to navigate. Some of the new rules are just so complicated that tax experts might have trouble processing them. So it's a good idea for small businesses to invest in reliable tax advisers this year.  

[Featured image via YouTube]

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2018 Will See Continued Decline in Facebook Use Among Teens

Is Facebook losing its cool factor? That seems to be the sad truth as the social media giant lost around 2.8 million young users last year.

eMarketer's 2017 forecast stated that for the first time ever, Facebook would see a drop in users. The research firm estimated that there would be a 3.4 percent drop in US users aged 12 to 17 years old. However, the reality turned out to be much worse, as that young demographic actually saw a 9.9 percent decline in users. That's about 1.4 million people.

Based on eMarketer's final numbers, around 2.8 million US users under 25 left or stopped using Facebook in 2017. Mark Zuckerberg and his colleagues can expect to experience the same thing this year. According to eMarketer, the company should brace itself to lose an estimated 2.1 million users under 25 in 2018.

Facebook Demographics

There are a number of reasons why there's an exodus of young people from the popular social media platform. One of the main arguments seems to be that Facebook is becoming increasingly uncool. This could be due to parents of these young users also being on the platform. For most of them, Facebook has become a means for their parents or the older generation to keep tabs on the young ones.

Karin von Abrams, an analyst at eMarketer, said that they did expect young social media users to lose interest in Facebook since they want “something beyond utility,” like exclusivity and novelty. Some have even pointed out the younger generation's affinity for more visual content as the reason for their dissatisfaction with the platform.

So where's the younger generation hanging out? While Instagram remains popular among this group, it's quickly losing ground to Snapchat. According to eMarketer's senior analyst in the UK, Bill Fisher, “there are now some early signs that younger social networkers are being swayed by Snapchat.”

The challenge now for Snapchat, and Instagram as well, is how they can capture the interest of users “beyond that core youth demographic.”

Despite the loss of young users, there's no danger of Facebook closing up shop. eMarketer also revealed a rise of about 3.6 million in new users in the 35 and up age group in the US and UK. But the largest growth is expected to be among older users or those over 55, with 500,000 people in that age group predicted to join Facebook.

This surge is probably due to the fact that mature users tend to adopt technology slower. And if teens are wary of their parents being on the same social media platform as they are, a lot of older users are signing up so they can keep up with what's happening in the lives of their children and grandchildren.

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Dropbox Gets Ready to Go Public After Earning $1.1 Billion in Revenue for 2017

Investors looking for a way to diversify their investment portfolios with some tech stocks will have a rare chance to do so later this week. Dropbox, the San Francisco-based file hosting and syncing service, will have its initial public offering (IPO) on Friday giving investors the opportunity to own shares of the popular tech firm valued at $10 billion.

A decade after its founding, the company finally decided to go public. Based on documents submitted to the SEC, Dropbox plans to raise $500 million in this offering. The company will be traded on Nasdaq under the “DBX” symbol.

Thanks to its filing, important data from the company’s books is now available to the public. For instance, its revenue for 2017 was revealed to be $1.11 billion, a massive 31 percent increase from 2016’s figure. In addition, the tech company has about 500 million registered users representing an increase of 100 million users compared to the number it had at the start of 2017.

Of the 500 million registered users, 11 million of these are paying subscribers. The average annual revenue from each paying user is $111.91.

Despite its revenue growth from the previous year, the filing also shows that Dropbox actually experienced a net loss of $111.7 million in 2017. However, this is a significant improvement from 2016’s net loss of $210.2 million. The loss was mainly driven by its high R&D budget but the company is optimistic about its future earnings potential and has highlighted the fact it already became free-cash-flow positive in 2016. In addition, it does not rely on enterprise sales teams to shore up its revenue and noted that most of its earnings came from users directly purchasing their subscriptions.

Dropbox was founded in 2007 by MIT students Drew Houston and Arash Ferdowsi. After it rolled out its services to the public the next year, it quickly grew in popularity due to the simplicity of its file syncing.

[Featured image via DropBox]

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Facebook Takes Steps to Clarify Ad Metrics in Light of Complaints from Advertisers

Facebook is finally taking steps to address advertisers' concerns regarding ad performance. In the interest of transparency, the social media giant is set to clean up its ad metrics and clarify how campaigns are measured.

Advertisers have been raising questions about Facebook's metrics, prompting the company to admit to errors in how ad performance is measured.

On Wednesday, Facebook revealed in a blog post that it will start labeling particular metrics in the Ads Manager as either in development or estimated. It will also be taking out around 20 metrics that are described as “redundant, outdated, not actionable or infrequently used.”

A complete list of these metrics has been posted, along with explanations for their removal and possible replacements. For example, Button Clicks will be removed because of redundancy. As it turns out, its metrics intersect with others like Event Responses, Link Clinks, and Offers Saved. Facebook is recommending any of the aforementioned three instead of Button Clicks.

Another change that Facebook will be doing is the labeling of metrics. Some metrics will be clearly labeled as either “estimated” or/and “in development.” Apparently, metrics not defined specifically as estimates have led to confusion among marketers. These metrics are calculated by using sampling or data modeling.

Meanwhile, “in development” means the metrics are still in the process of being tested or rolled out. This implies that their results could change as the company tweaks its methodologies. Marketers won't be receiving any notifications about changes or fixes Facebook would be making to this type of metrics.

The two labels can be seen in the tool tips in Ads Manager and in the column selector for ads appearing on Facebook, its sister company Instagram, and the Facebook Audience Network.

To assist advertisers and marketers in understanding the upcoming changes, Facebook will be launching “Measure What Matters” in a few weeks. The training program will offer two tracks—one for measuring branding focused campaigns and another for direct response marketing campaigns.

According to the company's Facebook page, each track will draw data from analysis and research “across creative planning, ad delivery, cross-channel measurement and video measurement.” Marketers can have access to this information through in-person events and on Facebook Live. Participants can also check it on the Facebook Business site.

These changes are expected to be rolled out sometime in July. While it will take time to see improvements, Facebook is hoping that these enhancements will boost advertisers' confidence in the site.

[Featured image via Freepik]

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Hackers are Now Buying Legit SSL Certificates to Hide Malware

Making sure that you are secure every time you surf the net is getting more challenging these days. No matter what type of high tech security system you may have installed, it seems hackers will inevitably find some creative way to breach it. Reportedly, hackers are now buying SSL certificates to make their malware appear legit and, as a result, make them easier to bypass security protocols.

This latest trend in cybercrime was discovered through research conducted by the Recorded Future's Insikt Group. Apparently, there is an online market where anyone, including hackers, can just buy legitimate certificates from issuing authorities.

Of course, this is a jarring contrast to the common belief that SSL certificates used in illegal activities were only obtained through theft from companies and developers. According to researchers, these certificates were not stolen from their rightful owners but were purposely created for specific buyers and registered under stolen corporate identities. When malware is given this level of apparent legitimacy, it will be harder for traditional network security measures to detect them.

“It's been generally accepted that security certificates circulating in the criminal underground were stolen from legitimate owners prior to being used in nefarious campaigns," Recorded Future director of advanced collection Andrei Barysevich explained. "However, our most recent analysis indicates this is not the case. We have confirmed—with a high degree of certainty—that counterfeit certificates are created for specific buyers, per request only, and registered using stolen corporate identities.”

SSL certificates are used in a process known as code signing. The process identifies the author or developer of a particular code and is used to authenticate its trustworthiness. They can be considered an extra layer of defense against cyber threats. In fact, some companies like Apple will not allow a program to be executed if it is not code-signed.

Prices for these SSL certificates vary greatly in the underground digital market. According to the report, they can be purchased for as little as $299 while the pricier ones could cost up to $1,599. However, the Recorded Future team does not believe that the legitimate owners of these SSL certificates are aware that their corporate digital data is used for these activities.

[Featured image via Pixabay]

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Snap Inc. Responds to Critics of Its App's Redesign

They say humans are creatures of habit which explains why most people are a bit resistant to change. And Snapchat’s recent redesign proved to be a bit too much for its users to endure. A reported 1.2 million Snapchat users have now joined hands in a petition for the app to revert back to its old ways.

However, it seems that Snapchat is bent on making those redesigns permanent. In fact, the company issued an official response to the petition by explaining that the changes are meant to enable users to “connect with the people you care about most.”

While Snapchat said that it understands that some users might find the changes to be uncomfortable at first, it still maintains that the redesign is the best way for the app to be more “approachable to a wider audience.”  The company did not stop there and even hinted of a new feature that will soon be coming to Android and iOS users.

“Beginning soon on iOS, and with Android in the coming weeks, we are introducing tabs in Friends and Discover, which will make it easier to find the Stories that you want, when you want them,” Snap Inc. responded to the change.org petition. The company promised even more customization options in the future by saying that “once you receive the update, you’ll be able to sort things like Stories, Group Chats, and Subscriptions, allowing you to further customize your own experience on the app.”

Nic Rumsey started the petition to remove the new Snapchat update, a move which proved to resonate with most of the apps users. It seems that the features introduced in the update only made the app more difficult to use and some believe they may even defeat the purpose of Snapchat altogether.

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AWS Makes Serverless Application Repository Available to Cloud Consumers

Amazon Web Services (AWS) has announced the general availability of its serverless application service. After a brief beta testing phase, the AWS Serverless Application Repository, which was first announced in November of 2015, works as an app store where consumers can try out a variety of applications via Lambda, the company’s event-driven computing service.

Lambda's serverless computing service allows AWS to automatically manage the allocation of computing resources. With the service in place, developers no longer have to worry about the hardware and computing infrastructure needed to support the running of their applications. In effect, it significantly makes developers’ jobs a lot easier so they can focus more on what they do best—developing applications.

The public availability of the Lambda ecosystem will now give cloud consumers access to a host of applications and components on the AWS Serverless Application Repository. With this access, consumers can make changes to the apps they deploy without having to write their own code. They can also use the apps found in the repository to complement projects for machine learning, image processing, IoT, and other general processes.

Consumers can also opt to configure, take apart, or even build on and modify these applications. They can even add features that are needed for their business processes or submit pull requests to the app’s authors.

The service also makes it easier for publishers to release their apps on the Serverless Application Repository. Publishers only need to supply a name, description, labels to boost discoverability as well as a README to get new users started.

Amazon likewise revealed the regions where the AWS Serverless Application Repository can be accessed. These are US East (Ohio), US East (N. Virginia), US West (N. California), US West (Oregon), Asia Pacific (Tokyo), Asia Pacific (Seoul), Asia Pacific (Mumbai), Asia Pacific (Singapore), Asia Pacific (Sydney), Canada (Central), EU (Frankfurt), EU (Ireland), EU (London), and South America (São Paulo) regions.

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How Your Business Can Identify and Capitalize on Micro-Moments

There's no question that smartphones have become a ubiquitous part of our daily lives. Studies have shown that 46% of Americans reach for their phones first thing in the morning, while 91% of people automatically reach for a mobile device to check on something when doing a task.

This reliance on smartphones has become so pervasive that many industries are putting more effort into targeting mobile users than those on conventional devices like a desktop. It's a smart move since turning even a small segment of these users into customers can yield huge profits. An effective way for companies to profit from this group is to take advantage of "micro-moments."

What are Micro-Moments?

Google coined the term "micro-moments" in 2015 to identify the exact points in time that lead to a consumer finally making a purchase. The company described these moments as “critical touch points within today's customer journey, and when added together, they ultimately determine how a journey ends.”

Essentially, these are the critical points where someone takes to their device (which is most often a smartphone) and takes steps regarding a need. It's the intersection of what a customer wants and needs at the moment and what they know.

Google has determined four key moments based on the consumer: “I want to do,” “I want to know,” “I want to buy” and “I want to go.” Most decisions made by shoppers can be traced to one of those four moments. For instance, a shopper who's headed to Turkey would research on what to “do” in that country. A travel agency can come up with a promo that will arrange a trip to Istanbul's famous Blue Mosque.

Image result for micro moments

[Graphic via Think with Google]

How to Capitalize on Micro-Moments

Now that the importance of micro-moments have been established and their constant evolution noted, companies have to think about how they can use these instances to their advantage. Here are some things to consider if you want to catch that perfect micro-moment with a customer:

1. Put Your Business Profile Out There

It pays to ensure that your business profile is accurate and completely filled out on Google, particularly if you have a physical storefront. There has been an increase in “near me” or “right here” searches, as more users are looking for a place to go for a certain activity. Getting your business profile up will help with micro-moments where a customer wants to “do” something or “go” somewhere. Google's Local Guides program assists users in verifying if your profile information is accurate.

2. Flaunt Your Value With Original and Significant Content

The need to know is one micro-moment that could hit you several times a day. This is why people are always looking for content on eCommerce sites. Having unique and relevant content is a great way to introduce your business to shoppers who are searching for information on either a particular product or on something that has captured their interest. Regardless of whether it's a short how-to video or some DIY tips, make sure to flaunt your value by offering good content that appeals at the moment.

3. Speed is of the Essence

Speed is key if you want to use micro-moments to your advantage. When asked, almost half of customers admit that they will leave a website if it's unresponsive or takes too long to load. People also don't like having to go through different windows or steps just to get information. Optimizing your site for mobile devices and streamlining your buying process is a good way to entice consumers to go to your page and stay.

4. Improve User Interface

Another area that brands should focus on is how the user experiences their website and content. When a potential customer goes to your site or a specific page, what will they see? Will they be able to find what they're looking for quickly or are they going to spend time wading through redundant information?

Aside from ensuring that information is accessed quickly, transactions should also be simplified. Complicated checkout pages or a cart that requires several clicks in order to finish a purchase will turn consumers off. There should also be fewer distractions on the checkout pages, especially those on mobile devices, as these further cut down the odds of conversions. The goal is to make shopping quick, fun, and simple.

Companies have to be ready to take advantage of micro-moments. This means that business has to do some forward thinking to anticipate what their customers would need. Changes may also need to be made to ensure that websites are optimized for mobile.  

[Featured image via ThinkWithGoogle]

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ZenBusiness Wants to Make it Easier for One Million Small Businesses to Get Started by 2023

Austin-based company ZenBusiness has secured $4.5 million in seed money, thanks to numerous angel investors. The startup is also embarking on the lofty goal of assisting one million businesses get started.

ZenBusiness, which began operations in 2015, helps small business get off on the right foot by assisting with legal documents. The company will inform clients of each and every form required by the state and the reports that have to be filed yearly. This will undoubtedly be a big boon to first-time business owners and entrepreneurs, as the process and requirements of launching a small business differ per state.

The corporate creation and management company is offering a fast, easy and affordable alternative to the complicated process of filing legal and business documents. ZenBusiness will provide clients a set of questions to answer that will determine the business they want to start. The business platform then creates and files all the needed documents for free, except for the state-mandated fees. What's more, this is all accomplished in as little as 48 hours.

Company owners can also avail of the $10 monthly package that lets ZenBusiness become the business' registered agent and allows them to handle “annual filings, franchise tax, all of the red tape around an entity.” The company is also open to paying any potential fines in the event that they have been remiss with any of the documents. The payment will be taken from the $4.5 million seed money from investors Lerer Hippeau, Greycroft, Slow Ventures, Founders Fund, and Revolution's Rise of the Rest.

ZenBusiness founder Ross Buhrdorf explains that their platform and affordable pricing ensures that every small business owner has the “resources and protection they need to turn their business dreams and ideas into reality.” Burhdorf has also set a very lofty goal for the company, that of helping develop one million small businesses by the year 2023. This roughly translates to 2.5 million new jobs for Americans and over $100 billion in income for workers.

[Featured image via Pexels]

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Social Media App Vero is So Popular it Might Kill Facebook and Instagram

There is a new social media app in town that’s been making waves recently.  If you happen to use Twitter and Facebook, you may have noticed a lot of recent buzz over an app called Vero.

Vero, which is the Latin word for "Truth," is a photo-sharing social media app created by the Lebanese billionaire, Ayman Hariri. The app was actually launched in 2015, but it gained a flurry of new users over the weekend after several social media influencers posted that they would start using it.  In fact, the surge in traffic was so high that it reportedly crashed in some areas.

Only a week ago, Vero was a little-known app that didn't even rank in the App Store's top 1500 apps. It has since skyrocketed to the top.

Apart from its endorsement from social media influencers, Vero's sudden appeal seems to be partly due to the growing user dissatisfaction with Facebook’s service. Lately, Facebook has been criticized for a number of issues such as the spread of fake news on its platform, its user targeting techniques as well as the questionable algorithms governing its News Feed.

And Vero was only too happy to use its rival’s current woes to its advantage, branding itself as the "Facebook killer" with a less cluttered appearance and better user experience.

To distance itself from its competitors, Vero claims to offer a “social network that lets you be yourself." In its manifesto, Vero laments that “most social networks reduce everyone to a friend or a follower” which encourages people to share only the parts of their lives they think is the most interesting.

Vero’s brand positioning seems to be working. Not only is Facebook losing users to the newcomer,  but Instagram users are switching to Vero as well is losing users as well. Some people are even calling Vero the "new Instagram."

One feature that distinguishes Vero from other social media platforms is that it has no mysterious algorithm in place for what users see when they open the app. User feeds on Vero are easier to follow as they show posts in a chronological order.

In addition, the app promises a more gentle approach to how it collects user data. According to its manifesto, "Vero only collects the data we believe is necessary to provide users with a great experience and to ensure the security of their accounts."

But users should expect such “perks” to come with a tradeoff. Unlike Facebook or Instagram, Vero charges a fee to use its platform, which might not turn off some users in the long run.

[Featured image via YouTube]

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4 Reasons Your Content Isn’t Working (And What To Do About It)

As marketers, we spend vast amounts of time, effort, and sometimes money producing content and campaigns that speak to our prospects and customers to convince them to move to the next step of the customer journey. But there are ways in which our content and campaigns fall short for our audiences.

In this blog, I’ll show you the four reasons your content isn’t working and what you can do to improve.

1. Your Content is Not Relevant

Every one of your prospects and customers is different. They have their own wants and needs. They are at various stages of interacting with you as a brand, they are looking for different things, they will be convinced and put off by different things. It is impossible to create one message and make it relevant to your whole audience.

How do marketers solve this? Personalize content based on customer desires using a combination of explicit (form filled data) and implicit (calculated data). This should be across every channel not just email.

2. Your Content is Not Timely

The world is moving faster than ever, and there are so many demands on our time that often when we are looking into products and services, we are doing so in a small 15-minute chunk of our day.

We do it on our terms when it suits us. No matter what I’m looking for, I need to get the content to answer my questions when I need it. I do not want to have to wait for a week to get a callback, I do not want to wait until the right email is sent to me as part of your newsletter program.

How do marketers solve this? As far as possible, use inbound channels to personalize the experience for your visitors. Whether you are using web personalization to serve up relevant products, FAQs, or contact information, or if it is serving push notifications through your app, make the experience relevant for the user when they are engaged. Aim to trigger your results immediately so that your users do not have to wait.

3. Your Content is Not on the Right Channel 

Think about your mobile phone. You’ve got email, text messages, instant messaging, phone calls, apps. You probably use each of these for different things. At the same time, if you were to ask an older relative, they would use them differently than you do. Ask a younger relative, and they are likely to use them differently still. And all of this is context based. I personally wouldn’t want my bank to start a Facebook Messenger conversation with me, and I wouldn’t want my friends to send me emails when they have a trivial question. Everyone uses different communication channels differently. Yet as marketers, we tend to think simply of cost.

How do marketers solve this? Stop guessing and start asking. Ask people which channels they want to receive information through and adapt accordingly. You can do either as part of the email sign up process or later down the line. 

4. Your Content is Not Consistent

If I’m a customer visiting your website or calling you for support, my content should be just as personalized as that which winds up in my inbox.

As a loyal customer, if I have to go all the way back to square one when I know you have information about me, I’m going to get frustrated quickly. We’ve all had the experience of being handed around at a call center. We’ve also likely had a similar experience where we’ve called in, and they know exactly who you are, your history with the company, and are able to assist you immediately. Having a one-off campaign that is relevant to the individual isn’t enough, it needs to be consistent across every campaign on every channel.

How do marketers solve this? Rather than creating ad hoc campaigns in a manual “spray and pray” process, use software which allows you to collect data on who your audience is, what they are interested in, what they want to receive, on which channel, how often, and allow it to do the heavy lifting for you. It simply is not possible to do all of this and stay consistent to all of your audiences through manual work.

Which of the above is the biggest challenge for you? Are there any other reasons you think content doesn’t work? Tell me about your struggles or solutions in the comments.

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Tuesday, February 27, 2018

Navigating the Latest Facebook Algorithm

Earlier this year, Facebook announced a significant update to its algorithm, causing concern for brands and publishers all over. The update prioritizes content that starts conversations (via Facebook comments and reactions) on the News Feed of users. Marketers who have been paying attention will have seen this coming. Facebook announced in June that it was going to push content from friends and family higher in the News Feed.

As a quick lesson on Facebook’s News Feed algorithm: it started as a smaller equation (known as “EdgeRank”) considering the affinity users have for the post creator, the weight of the content (how much engagement it gets), and how long it’s been since the post was released. Now, Facebook uses “signals” to try and figure out what content should be in your News Feed. These signals include all of the above items and more sophisticated signals to get an accurate picture of what’s interesting to you. In this case, Facebook is placing greater emphasis on your affinity for friends and family over brands or public pages.

Many are reporting that Facebook is “demoting” content from brand pages but that is not quite accurate. As Facebook stated, as the News Feed of the user gets more content from friends and family, content they see from publishers will decrease. There is nothing about the algorithm change that is actively filtering out content from brands. That’s a good thing. Brands still have the ability to keep their content in the News Feed of their users.

In this blog, I’ll give you some ways to adapt to the Facebook algorithm so you can stay in front of your customers. 

1. Make More Engaging Content

Seems simplistic but it’s more important than ever. If you aren’t already, you must find ways to encourage engagement on your content every time you post. Likes, comments, and shares are still key signals Facebook uses to determine that a post is popular and should be higher in News Feed. This should be your first priority.

2. Make Your Content Shareable

This is the evolution marketers must make to be, what I’d call, “algorithm-proof.” There will be no algorithm update that will remove posts that people share to their profiles. That is the social part of social media. Yes, paying for ads may give you back the reach you’re losing but that’s not always an option. Shares increase your reach for free and they give you the added endorsement (social proof) from your fans.

3. Turn Your Customers Into Advocates

A good moment for a brand is when they get likes and comments on their posts. A better moment is when users share the brand’s content with their friends and family, which gives it an added bump. The best case is when a user writes their own content promoting a product or service from your brand. This is the moment where friends and family members begin to consider whether they too should purchase from that brand. Find ways to make your customers advocate for your brand.

I understand why marketers think Facebook is no longer an organic platform (dubbed “Facebook Zero”) and that consequently, you should just accept it and cough up the money to be seen. But even buying ads doesn’t guarantee users will see your posts and buy, just that the post will show up. The challenge is now ensuring your content becomes content from family and friends. It’s harder, yes. But it’s possible.

As digital evolution occurs, algorithm changes are inevitable. Ultimately, it’s important to adapt and change with technology while maintaining a forward-looking approach to digital engagement. Remain agile and you’ll stay on top.

How has the latest update to Facebook’s algorithm affected your marketing strategy? Do you have any methods that are working for your brand? Tell me about them in the comments.

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Net Neutrality Repeal Takes Effect in April, States are Fighting Back with Last-Minute Lawsuits

The days of net neutrality are numbered. The Federal Communications Commission (FCC) has finally set April 23 as the date when the Obama-era regulations will cease to take effect according to a copy of the order published on Thursday with the Federal Register. But of course, various net neutrality supporters are not going to take this one lying down and are expected to file lawsuits as a last-ditch effort to challenge the repeal.

Net neutrality regulations were put in place during the Obama administration to ensure that all internet traffic is treated equally. With this safeguard in place, broadband companies can’t just slow down or block traffic from certain sites or prioritize other sites when it comes to bandwidth allocation. In addition, internet service providers are barred from accepting money to prioritize certain companies’ websites and make them more accessible to customers.

Since broadband companies and ISPs act more or less as the net’s gatekeepers, the rules are seen by their supporters as a way to deter abuse of this power. Big tech companies such as Twitter, Google, and Facebook were supportive of net neutrality while big telecom firms such as Verizon, Comcast, and AT&T opposed the regulations and clamored for their repeal.

Net neutrality opponents scored a major victory last December when FCC voted 3-2 to have the laws repealed. However, supporters are expected to fight back by filing lawsuits questioning the repeal. In fact, attorneys general in more than 20 states, as well as tech companies such as Mozilla, have already filed lawsuits last month to stop the repeal from taking effect. They are expected to refile their lawsuits within 10 days after FCC’s order was published in the Federal Register.

Congress is given a 60 day period to pass a resolution to reverse FCC’s repeal. Democrats, who support net neutrality, say that they already have 50 votes in the Senate and lack only one more to pass the bill. Such a bill might face a tough time in the House of Representatives considering that Republicans control a larger majority.

However, some states are not waiting for a vote on the bill and have passed net neutrality laws within their areas. For instance, New Jersey, New York, and already have their own net neutrality policies that ISPs need to adhere to.

[Featured image via Pixabay]

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Will Trump Tax Cuts Benefit Your Small Business?

Small businesses are feeling very optimistic these days, with a record number believing it's the perfect time to expand. The positive outlook has reportedly been fueled by the changes instituted by the Trump administration's tax-reform package.

Survey Says It's a Good Time for Small Businesses

According to a survey released by the CNBC and Survey Monkey, the Small Business Confidence Index for Q1 saw numbers rise from 57 to 62. The five-point increase is the largest move per quarter that the index has seen since the two companies started measuring in 2017.

The CNBC/SurveyMonkey Survey also highlighted several key takeaways. For instance, 47 percent of small businesses stated that on the whole, business conditions are good. Only 44 percent believed that last quarter. The survey also revealed that 32 percent of small business owners are planning to add more full-time workers in 2018.

How the New Tax Law Affects Small Businesses

It should be pointed out that the Q1 survey is the first done since President Donald Trump enacted the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The rise in optimism and confidence is quite the surprise, considering that in the Q4 2017 survey, small-business owners were split in the middle regarding the effect the tax law would have on their business. Now it seems that 46 percent of those surveyed believe Trump's tax policy will have a positive impact; an impressive jump from the 38 percent of last quarter.

What kind of impact will the new tax law have on SMBs? The final iteration of the bill allow pass-throughs of as much as 20 percent of the income. However, these deductions depend on the type of business.

In personal service businesses, like lawyers, architects, and brokers, the 20 percent deduction is only permitted for married partners that filed joint incomes of as much as $315,000. Meanwhile, the deduction is allowed for single taxpayers with incomes of up to $157,000.

For businesses that are employee intensive, like manufacturers and restaurants, the deductions depend on the payroll. The 20 percent deduction is actually confined to 50 percent of the payroll. So companies with a lot of workers get a big break. The new tax law basically gives these businesses a good reason to expand and hire new people.

Last year, Adam Looney of the Tax Policy Center explained how the 'pass-throughs' would work for small business on PBS News Hour.

Benefits of Tax Cuts to Small and Medium Sized Businesses

The TCJA appears to have a trickle-down effect on consumers and small businesses. The higher take-home pay and bonuses resulting from the new tax law have given consumers more spending confidence. This was clearly seen during last year's holiday season.

This consumer confidence is a good sign for small and medium-sized business. With increased spending, these companies can generate more revenue that they can use to either improve the business or pay off creditors. For instance, savvy business owners can take steps to improve their credit rating, like paying their bills immediately.

Companies with improved credit ratings have access to more capital. This can be beneficial to owners thinking of expanding operations, improving an office, buying new equipment, or refinancing a debt.

More importantly, a positive credit score makes it possible for entrepreneurs to apply for small business funding with banks. These traditional lenders typically look more closely at credit scores. They can also offer small businesses better terms and rates. For example, instead of paying 20 percent interest on a credit card, a businessman can get capital at 8 percent interest which can be used to pay off debt and place the company in a healthier space, finance wise.

Small businesses certainly have a lot to look forward to now that the TCJA is in effect. However, the changes introduced in this new law can be challenging to navigate. Some of the new rules are just so complicated that tax experts might have trouble processing them. So it's a good idea for small businesses to invest in reliable tax advisers this year.  

[Featured image via YouTube]

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Monday, February 26, 2018

2018 Will See Continued Decline in Facebook Use Among Teens

Is Facebook losing its cool factor? That seems to be the sad truth as the social media giant lost around 2.8 million young users last year.

eMarketer's 2017 forecast stated that for the first time ever, Facebook would see a drop in users. The research firm estimated that there would be a 3.4 percent drop in US users aged 12 to 17 years old. However, the reality turned out to be much worse, as that young demographic actually saw a 9.9 percent decline in users. That's about 1.4 million people.

Based on eMarketer's final numbers, around 2.8 million US users under 25 left or stopped using Facebook in 2017. Mark Zuckerberg and his colleagues can expect to experience the same thing this year. According to eMarketer, the company should brace itself to lose an estimated 2.1 million users under 25 in 2018.

There are a number of reasons why there's an exodus of young people from the popular social media platform. One of the main arguments seems to be that Facebook is becoming increasingly uncool. This could be due to parents of these young users also being on the platform. For most of them, Facebook has become a means for their parents or the older generation to keep tabs on the young ones.

Karin von Abrams, an analyst at eMarketer, said that they did expect young social media users to lose interest in Facebook since they want “something beyond utility,” like exclusivity and novelty. Some have even pointed out the younger generation's affinity for more visual content as the reason for their dissatisfaction with the platform.

So where's the younger generation hanging out? While Instagram remains popular among this group, it's quickly losing ground to Snapchat. According to eMarketer's senior analyst in the UK, Bill Fisher, “there are now some early signs that younger social networkers are being swayed by Snapchat.”

The challenge now for Snapchat, and Instagram as well, is how they can capture the interest of users “beyond that core youth demographic.”

Despite the loss of young users, there's no danger of Facebook closing up shop. eMarketer also revealed a rise of about 3.6 million in new users in the 35 and up age group in the US and UK. But the largest growth is expected to be among older users or those over 55, with 500,000 people in that age group predicted to join Facebook.

This surge is probably due to the fact that mature users tend to adopt technology slower. And if teens are wary of their parents being on the same social media platform as they are, a lot of older users are signing up so they can keep up with what's happening in the lives of their children and grandchildren.

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Dropbox Gets Ready to Go Public After Earning $1.1 Billion in Revenue for 2017

Investors looking for a way to diversify their investment portfolios with some tech stocks will have a rare chance to do so later this week. Dropbox, the San Francisco-based file hosting and syncing service, will have its initial public offering (IPO) on Friday giving investors the opportunity to own shares of the popular tech firm valued at $10 billion.

A decade after its founding, the company finally decided to go public. Based on documents submitted to the SEC, Dropbox plans to raise $500 million in this offering. The company will be traded on Nasdaq under the “DBX” symbol.

Thanks to its filing, important data from the company’s books is now available to the public. For instance, its revenue for 2017 was revealed to be $1.11 billion, a massive 31 percent increase from 2016’s figure. In addition, the tech company has about 500 million registered users representing an increase of 100 million users compared to the number it had at the start of 2017.

Of the 500 million registered users, 11 million of these are paying subscribers. The average annual revenue from each paying user is $111.91.

Despite its revenue growth from the previous year, the filing also shows that Dropbox actually experienced a net loss of $111.7 million in 2017. However, this is a significant improvement from 2016’s net loss of $210.2 million. The loss was mainly driven by its high R&D budget but the company is optimistic about its future earnings potential and has highlighted the fact it already became free-cash-flow positive in 2016. In addition, it does not rely on enterprise sales teams to shore up its revenue and noted that most of its earnings came from users directly purchasing their subscriptions.

Dropbox was founded in 2007 by MIT students Drew Houston and Arash Ferdowsi. After it rolled out its services to the public the next year, it quickly grew in popularity due to the simplicity of its file syncing.

[Featured image via DropBox]

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ABM Key Marketing Metrics to Track at Every Stage of the Funnel

The rate at which marketers have moved towards an account-based marketing (ABM) model is quite surprising. I remember when ABM was the ultimate buzz word at the Marketing Nation Summit a couple years ago. Many of us were wondering ‘Will this thing stick?’ or ‘Is this just a fad that will go away by next year?’ But it’s 2018 and ABM has become even more popular in the B2B world as marketers are seeing value in targeting accounts, not just leads. In fact, in recent research from SiriusDecisions, “93% of marketers consider account-based marketing (ABM) extremely important or very important to their overall organizational success.”

With any marketing strategy, the number one question you are going to be asked is what the performance of your campaign is. And for any marketer who has built an ABM strategy from the ground up, you know that it takes time for the programs to get up and running—let alone start showing ROI.

With any marketing strategy, the number one question you are going to be asked is what the performance of your campaign is. And for any marketer that has built an ABM strategy from the ground up, you know that it takes time for the…

This is why you need to track different metrics at each stage of the funnel to start showing success—even if you’ve just started.

Here are some key marketing metrics I like to track at each stage of the funnel to measure or predict success.

Top-of-Funnel

Engagement by account: Tracking the rate at which leads within the accounts you are targeting are completing a specific action. This action could be coming to your website, opening your emails, engaging with your social posts, receiving and responding to direct mail, the list goes on. You’ll be able to identify which accounts may be closer to buying if they have increased engagement—or find the accounts that might not have any idea who your company is with little to no engagement—so you can tailor your marketing and messaging.

White space: Where are you lacking contact information or engagement within your accounts? Set a goal of how many relevant contacts you want within each account to start tracking this. Ultimately, your goal will depend on size of company and number of personas you are targeting. Being able to fill in the blanks of those key contacts within your buying committee will set your entire sales cycle up for success.

Middle-of-Funnel

Meetings within your accounts: Are your marketing campaigns creating enough engagement and interest within your top accounts where your sales team has productive meetings or engagements? At this stage, you’ll start measuring the success of your marketing campaigns by moving leads quickly to sales. You’ll also want to be measuring the quality based on how those meetings or engagements go—and if they move along to the next stage.

Bottom of Funnel

ASP: One of the main benefits of implementing an ABM strategy is a higher average selling point (ASP) because you are honing in on and providing a more personalized journey to higher-value deals. This is an excellent place to do a quick gut check on whether or not you’ve done a good job at choosing the right accounts to target with your marketing activities. In addition to ASP, you should see a higher close rate within ABM accounts. In the same recent SiriusDecisions report, “89% of respondents have increased their close rate using ABM, and one in four increased their closed deals by more than 50% for ABM accounts versus non-ABM accounts.”

Customer

Churn rate: If you are focusing your ABM strategy on your post-sale audience (which I totally recommend), an important metric to track is churn rate. How many of your target customers are churning? Is that at a slower rate than your baseline? It should be! As you all know, ABM is less about the number of accounts or leads you are reaching and more about the quality of the relationship you have with fewer accounts. You’ll generate a better understanding of your customers by creating a more meaningful relationship, thus decreasing churn rate.

On top of all of these funnel metrics, another important thing to measure is conversion rates. If you are targeting the right accounts (and the right person within that account), with the right content at the right time, you should see an accelerated journey through the funnel or buying journey. It’s important to set a baseline ahead of time so you can see this increase in velocity.

What are your key marketing metrics to track when running ABM campaigns? Comment below!

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