Friday, March 23, 2018

Dropbox's Initial Public Offering is Priced at $21, Company Market Cap Reaches $9.1 Billion

Investors, especially those who specialize in picking tech stocks, will now have one additional company to consider as an investment option. A decade after its founding, Dropbox is now a publicly traded company starting Friday, March 23, 2018.

The San Francisco-based firm successfully hosted its IPO on Thursday where investors bought Dropbox share at $21. Popular for its cloud-based files storage and syncing service, the company was able to raise a whopping $750 million from the event.

The IPO price of $21 per share is already way above the $16 to $18 price range previously proposed by the company earlier this month. The final price was even higher than the latest estimate when Dropbox raised it to between $18 and $20 in its regulatory document filed on Wednesday.

With its current share price, Dropbox is now a publicly traded behemoth with a market capitalization of $9.1 billion. However, this amount still falls short compared to the $10 billion valuation it received during its last round of private funding in 2014.

Of course, many are fearful that the tech company’s valuation trend will go downhill after its IPO, which seem to hound some tech listings. For instance, investors had to wait for almost a year before Snapchat’s shares rebounded and started trading above its June 2017 IPO price of $17 per share. This is a turn off for short-term investors who do not wish to hold on to a share for too long.

But most investors remain upbeat on Dropbox’s future earning potential. The company is already cash flow positive and performed well last year. Its sales are on the rise, garnering a massive $1.11 billion in revenues for 2017 alone. The figure represents a 30 percent increase compared to 2016’s performance.

[Featured image via Dropbox]

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Thursday, March 22, 2018

Amazon is Now the World's Second Largest Company, Surpasses Alphabet

Amazon became the second most valuable company as it overtook Google parent Alphabet for the first time amidst Tuesday’s trading.

The eCommerce giant’s shares surged by 2.7 percent, pulling up its stock market value to $768 billion. Over the past 12 months, the online retailer has added around $350 billion to its market capitalization, surging by 85 percent. This was attributed to Amazon’s aggressive expansion into other markets, such as cloud computing and brick-and-mortar stores.

More investors are betting on Amazon’s profitable and fast-growing cloud computing business, Amazon Web Services, to fund the company’s new ventures like original content, physical stores, and building data centers and warehouses.

Amazon is still behind Apple, the largest publicly traded US company with market value of $889 billion. But analysts think the eCommerce giant can close the gap. “They could have Apple in their sights at some point,” Tim Ghriskey, chief investment strategist at Inverness Counsel in New York, said.

On the other hand, Alphabet’s stock tumbled by 0.4 percent, trimming its market cap to $762 billion. The Wall Street ranking shake-up was traced to Monday’s tech sell-off following the political backlash over reports that a consulting firm leaked the personal data of 50 million Facebook users. Similar to the social media company, Alphabet also relies on obtaining massive amounts of personal data to target online advertising.

Although Amazon also collects data from site users, some analysts believe that the online retailer will not be affected by concerns about the new regulation on online advertising, unlike Facebook and other tech companies.

Fred Weiss, a managing director at CIBC Atlantic Trust, pointed out to Financial Times, “It is clearly companies that have proprietary personal data that they are able to market to advertisers. Those are the ones that are vulnerable, not so much Amazon. It does very little on advertising and is not being impacted the same as Google and Facebook.”

[Featured image via Amazon blog]

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Google Introduces Shopping Actions to Help Online Retailers Take On Amazon

On Monday, Google announced a program called Shopping Actions to help retailers take on the eCommerce giant Amazon. Under the program, merchants are allowed to list their products across the search engine’s platforms—Google Search, Google Express shopping service, and Google Assistant on mobile devices and smart speakers like Google Home.

The program gives consumers a universal shopping cart available on mobile, desktop, or voice-activated smart speakers. Features such as one-click re-ordering, personalized recommendations, and basket-building are expected to increase shopper loyalty and engagement. By linking your existing shopping account with Google, the feature will suggest other related products based on previous purchase history and browsing activities.

Aside from a universal cart, customers can share their shopping list, or checkout instantly with saved payment credentials through the Google-hosted payment flow.

In exchange for the sponsored listing and integration with loyalty programs, Google only gets a cut from every successful purchase, unlike its existing pay-per-click ads where businesses pay for exposure.

Google’s move to help retailers compete against Amazon stemmed from the company’s observation of how millions of consumers sent image searches of products asking where to buy such items. In the last two years, this type of mobile searches surged by 85 percent. Daniel Alegre, Google’s president for retail and shopping, pointed out this trend in a recent interview with Reuters.

And with most search results ending with an Amazon purchase, Google has found a way to help retail chains in keeping those customers.

“We have taken a fundamentally different approach from the likes of Amazon because we see ourselves as an enabler of retail,” Alegre pointed out. “We see ourselves as part of a solution for retailers to be able to drive better transactions ... and get closer to the consumer.”

Based on early results of the Shopping Actions tool, merchants noticed that the average size of a customer’s shopping basket increased by 30 percent, pointing to a more convenient, seamless shopping experience. Ulta Beauty has seen its average order value jump by 35 percent after its partnership with Google. After partnering for six months, Target said that its Google Express baskets have expanded by almost 20 percent.

Furthermore, retailers are eager to join the growing voice shopping market - the next step for eCommerce - currently dominated by Amazon’s Echo devices. Prior to Shopping Actions, retailers Target and Walmart have teamed up with the search giant to allow voice-based shopping through Google Assistant and integration with Google Express.

Google has partnered with big retailers such as Target, Walmart, Costco, Ulta Beauty, and Home Depot for this program. Shopping Actions is available to any retailer in the US.

[Featured image via Google]

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5 Ways AI Can Help Sales and Marketing Alignment

Artificial intelligence (AI) is all around us. It’s how Google answers our searches, Amazon recommends products, and Pandora plays another song.

For marketers, AI enables scalable growth, drives revenue, and personalizes customer experiences. Savvy marketers are discovering that AI is an exceptionally powerful strategy. It empowers them to excel in their roles by engaging with their audiences through personalized, targeted messaging—all at scale.

AI technologies are also creating key internal opportunities that drive better alignment between marketing and sales resulting in an increase in revenue and a healthy pipeline.
Let’s look at five ways AI can help marketing and sales continue to tear down silos.

1. Support Sales with Relevant Customer Experiences

Customers have come to expect personalized experiences and interactions through their preferred format or channel. Nothing says, “I’m not listening” like getting an automated email about a free trial that a lead already signed up for with a sales rep. In fact, “irrelevant content” is the #1 reason that customers disengage.

Engaging thousands of prospects and customers through personalized content is impossible without arming your marketing forces with artificial intelligence.

AI-powered predictive content tools are empowering marketers to be more strategic, while simultaneously lightening the workload.  These AI-powered marketing programs can crawl your site for blog articles, case studies, white papers, ebooks, videos, etc. Once the content arsenal is assembled, AI predicts which collateral will appeal to—and ultimately convert—each audience segment. Insights can be used to engage visitors across email, web, social, and mobile channels for a full omni-channel approach. The result is one-to-one value marketing that businesses weren’t previously able to achieve without considerable scaling.

A marketing engagement platform powered by AI technologies equips marketers with data-driven intelligence that aligns company-wide strategies for a unified brand conversation.

2. Agree on Qualified Leads and Accounts from the Beginning

Now more than ever, closing deals requires an orchestrated alignment between marketing and sales. Historically, one of the most difficult areas of alignment is agreeing on what qualifies a lead, or in an account-based marketing scenario, what makes for an “ideal customer profile.”

Of course, marketers are equipped with a wide range of lead and account scoring tools and strategies, resulting in an automated qualification process, but even automation has its limitations. It can be difficult to set up scoring in a meaningful way that aligns broad audiences, product offerings, and sales tactics.

However, predictive lead scoring and predictive account scoring provide value where other solutions may not, resulting in a strong foundation between sales and marketing. Predictive scoring programs scan digital signals from across the web to find prospects who match your brand’s ideal customer profile. All you have to do is get together with sales to identify those “perfect” customers or clients.

3. Personalize and Scale Messaging with AI Insights

Google has been using AI and machine learning longer than most marketing teams, and they’re more heavily invested in it than most of us combined.

Google’s machine learning program, RankBrain, monitors user engagement 24/7/365 in order to provide the best search results for every query that someone types into a Google search bar. The results of that constant investigation is displayed in every search engine results page (SERP).

If your company develops EHR software, for example, data-driven insights into your audience are one Google search away. Search “EHR” and look at the answers Google’s AI is providing. Is it a definition? Are they product pages? What related searches are listed at the bottom?

Those are all keys to understanding the language your audience is using, the questions they’re asking, and the key criteria that define your ideal customer profile—which is crucial information for both marketing and sales. You can get this vital information by reverse-engineering organic search results.

4. Make Analytics Actionable

Leveraging data to design better customer engagement strategies is key to winning your customer’s heart. This means testing, measuring and analyzing.

The irony lies in the fact that marketers use artificial intelligence to drive more meaningful human interactions. AI-powered platforms are not only capable of collecting and aggregating marketing metrics—they empower marketers to draw meaningful analytics and applications out of that data and apply it to being more personal with their customers.

A great platform will monitor the metrics, flag anything that needs attention and makes some basic changes or adjustments as necessary. Sales and marketing can align on these powerful data points and insights to apply creative solutions and meaningful engagement.

5. Focus on Creating a World-Class Strategy

AI and machine learning-powered programs effortlessly offload monotonous tasks resulting in more time reserved for strategy development.

AI can consolidate data, hone customer profiles, select and send next-step content to leads, and more. This results in a marketing and sales team focused on doing what they do best – developing strategies that create valuable customer experiences.

AI for Marketers + Sales Reps

AI is opening a lot of doors for marketers, and there is still time to get on board before your competition.

Machine learning should never live solely within the marketing department. Sales and marketing will be better equipped to orchestrate coordinated impactful efforts by leveraging AI. Whether it’s improved collaboration on qualifying leads, content delivery, messaging, analytics, or strategy, AI technology serves up excellent opportunities to align internally and drive meaningful customer engagement.

What potential do you see with AI built for marketers? How might it help your sales and marketing alignment? Tell me your thoughts in the comments.

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Wednesday, March 21, 2018

Salesforce Wants to Buy MuleSoft, $6.5 Billion Offered for Acquisition

In today’s ultra-competitive business environment where customer satisfaction is key to success, every company needs to have a proper Customer Relationship Management (CRM) strategy in place to stay ahead of the competition. This explains why the services of CRM-focused cloud computing companies such as the San Francisco-based Salesforce is in demand as they help other businesses polish their brand’s image while tapping into the full potential of their existing clientele.

But even CRM experts must evolve with the changing times to stay on top of the game, and this sometimes includes the plain old mergers and acquisitions route. Recently, Salesforce announced that it is willing to shell out some serious cash to buy API expert MuleSoft.

The deal is valued at a whopping $6.5 billion, which is expected to be finalized by July this year. At $44.89 per MuleSoft share, Salesforce is even willing to pay 36 percent on top of the current market price to sweeten the deal. However, it won’t be a pure cash transaction; Salesforce will pay $36 in cash as well as 0.0711 of its shares for every MuleSoft share.

Given the multitude of applications available to businesses, MuleSoft makes it easier for companies to connect, utilize and make sense of the jumble of data generated by their horde of apps and devices. The company is an industry leader in terms of integrating different APIs, making them work seamlessly in any cloud-based platform. Obviously, the company’s technical expertise is invaluable for Salesforce’s CRM and marketing services.

Aside from tech, the deal will also bring MuleSoft’s clientele within Salesforce’s reach. As an industry leader in cloud integration, Mulesoft runs a globe-spanning operation with around 1,200 clients across 60 countries, which includes Fortune 500 firms such as Coca-Cola, VMware, GE, Accenture, Airbus, AT&T, and Cisco.

The deal is ultimately geared toward improving Salesforce’s bottom line and, hopefully, help the CRM giant meet its rather ambitious revenue target. The company aims to increase its annual revenue to $60 billion by 2034. While MuleSoft only posted $300 million for its 2017 sales, Salesforce could tap into its tech expertise to improve its service and further boost its future revenue.

[Featured image via Salesforce]

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Instagram Launches Shoppable Posts in 8 New Countries

Instagram is planning to increase its share in the eCommerce segment by expanding its shopping feature abroad. Previously available only in the US, the Facebook-owned photo and video sharing app now allows shoppable posts for businesses located in an additional eight countries.

Instagram is expanding its shopping feature to other countries such as Australia, Brazil, Canada, Italy, France, Germany, Spain, and the United Kingdom. The feature was first tested in November of 2016 before it was introduced to US users of the app last year.

Shoppable organic posts allow businesses to add eCommerce links to their social media posts. This makes it easier for brands to drive additional traffic to their eCommerce sites.

The shopping feature acts as a shop window that allows users to explore products. Tapping on a post will display the product’s price as well as a link which brings Instagram users to the product page within the platform. The post shows additional product details as well as similar products and other items being offered by the brand. If the user is interested, they can then click on the “Shop Now” button which redirects them to the actual eCommerce site of the brand.

The shopping feature’s international expansion can add more revenue to the app and increase the company’s share in the global eCommerce segment. Instagram noted an increase in eCommerce activity on the platform with more than 200 million users visiting at least one Instagram business profile daily. The feature was designed to entice users who love to shop as it noted that about half of its US-based active users follow a shopping business account.

Given the feature's popularity among Instagram users, many online stores could see a significant boost to their bottom line by adding it to their marketing strategy. According to Lulus Vice President of Marketing Noelle Sandler, their website traffic from the platform increased by 44 percent since shoppable organic posts were introduced last year.

[Featured image via Pixabay]

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4 Reasons to Seek and Be a Mentor

It’s been an intense start to the year, hasn’t it? As marketers, we tend to load up the front half of our year with too many events and (sometimes unrealistic) goals. By the end of Q2, we’re exhausted. Our budgets are under scrunity and suddenly, becoming a novelist or going back to school to fulfill your lifelong passion of becoming a professional ballerina (despite not making it past beginning ballet at age five) is starting to look REALLY good.

Sound familiar? You’re not alone. We tend to try to solve all of our problems by ourselves out of fear of being perceived as ineffective or unintelligent. You don’t have to navigate the workplace by yourself. Mentorship can play a vital part in any healthy and productive work environment.

Unfortunately, mentor programs in the workplace are not as prevalent as they should be. In fact, 71% of Fortune 500 companies have mentorship programs, but 79% of Millennials view mentorship as crucial for workplace success. Furthermore, those who have a mentor are twice as likely to intend to stay with an organization for five or more years.

In this blog, I’ll cover why you need to seek a mentor and be a mentor, no matter where you are in your career.

It’s Never Too Early or Too Late 

“When I was at IBM, employees volunteered to work with 4th and 5th-grade classes and talk about the importance and role of math and science in life. In one class, we showed the role of math in baking chocolate as a relatable example of math in action. 

Mentorship is a great way to help employees navigate areas in a company that might be murky or new, especially if they are a minority. A mentor can provide a “penalty-free” question and personal development zone where employees can more safely and openly learn how to navigate teams, manage careers and demystify tacit company characteristics and culture.” Sandra Zoratti, CMO & Co-Founder, The Marketer Network

Are you mid- or late-career employee who has never had a formal mentor before? Consider a reverse mentorship where you are paired with a younger worker to learn about how you can improve the business together. This mutually beneficial relationship can enhance your perspective while helping a younger worker benefit from your experience and relationship building skills.

Early career and eager to share your story? You may not think you have a lot to offer yet, but think about how much your life has changed since graduation. Consider reaching out to your university or a local high school to start talking with students on what your steps were between where they are and gainful employment.

You Need a Sounding Board

“Be proactive and invest in building relationships. Seek out female and male colleagues, managers, mentors, role models, and sponsors who can serve as sounding boards and provide advice and encouragement. The diverse set of relationships I’ve built throughout my career has helped me through the most difficult times and lifted me during the greatest moments. Some women make the mistake of keeping to a small circle of other women similar to themselves — the key is to make an effort to expand your community and find people who will challenge and stretch you.” Clara Shih, CEO/Founder, Hearsay

Broaden your circle; take a chance on a new hire or on someone you view as being unapproachable who’s been with the company for years. The insight you can gain from another’s perspective can be invaluable. And, of course, advice and encouragement are both important, especially when they come from someone who knows what you’re going through.

It’s Okay to Fail

I want to make this clear: no one is expecting transformative results from you immediately. Starting a mentor relationship will not completely change your life in one meeting. Your first mentor or mentee may not be a great fit. You might schedule and reschedule your mentorship meeting four or five times before it actually happens. Keep at it.

Be sure you’re not limiting yourself when it comes to selecting a mentor. Mentors do not have to be in your industry, company, or even in a role you’re aspiring to. Look into mentors who have leadership styles that you admire, reach out to people who have taken the road less traveled, or find a someone who is drastically different from you. Everyone has something to teach you.

“Start by encouraging employees to bring their whole self to work. That means their passions for mountain biking, crocheting, extreme ironing, tree shaping or whatever. If we’re building products and services for customers with diverse backgrounds, then we have to have companies reflect the makeup of our customers. Companies can encourage workplace diversity by asking for different points of view. Cultures kill diversity through things like making disagreement a CLM (career limiting move), rewarding “think like me” behavior, and looking to hire new employees that think like existing ones.” Carla Johnson, Author & Chief Experience Officer, Type A Communications

Impact Your Bottom Line

77% of companies that have a mentoring program reported that it improved both employee retention and job performance. Employee turnover rates are reduced, and those who are involved in a positive mentoring relationship within their place of employment are more likely to be engaged and dedicated employees. Furthermore, encouraging and seeking diverse mentor/mentee relationships can bring fresh ideas to the table and help create new dialogue in your organization.

“When you value perspectives as a way to broaden the outlook of the entire team, you minimize your blind spots, and you optimize your perspectives. When you implement that, you actually have significant opportunities to see things that, quite frankly, your competitors don’t see. Teams are much, much stronger when you get a very diverse set of perspectives.” Jim D’Arcengelo, SVP, UpCity

Whether you’re a Fortune 500 CEO with retirement on the horizon or an early career marketer in your first startup role after graduation, mentorship can have huge and measurable benefits for your business. Encourage diversity in the selection of mentors and focus on creating opportunities for those who may not feel confident enough to seek mentorship on their own. When we create an environment where it’s okay to ask questions and fail, we create a place that employees want to dedicate their value to instead of a place where they come to collect a paycheck.

Who was the best mentor you’ve ever had? Why were they great? What advice would you give to those who are looking to start a mentorship program? Let’s keep the conversation going in the comments.

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