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Fintech – The Millennial’s Ticket to Financial Freedom?

 

In recent years, financially savvy­­­ millennials have burst on to the investment scene, choosing to adopt a more proactive approach to managing and investing their money.

This, combined with an open-mindedness as to how and where their money is invested and millennials notoriously being short on spare time is reshaping the investment space.

Such shifts have presented in the form of unconventional, mobile-friendly money management and investment apps rising to prominence.

 

The influx of fintech apps centred around investing your change from purchases, social investing and financial education are rapidly changing the investment and financial management landscapes, demystifying them in the process.

Take Moneybox, a micro-investment app that rounds your purchases to the nearest pound and invests the change in Stocks and Shares ISAs.

Other apps like Acorns, allow people to invest their spare budget into the stock market, set recurring investments and make one-time, no-minimum capital injections to boost their portfolio.

 

As we move away from traditional views on investing, which had implied such activities reserved for the well-heeled among us, investing is now trending amongst the younger generation and viewed and a great way to pass time with friends.

This has not gone unnoticed as innovative apps are fast-capitalising on these opportunities. Take Voleo, an investment app aiming to make investing a communal activity. People join from social groups such as an investment club or fraternity.

Each person contributes a minimum of $500 towards their group’s portfolio. The investment options – from listed stocks and ETFs in the United States are then researched and proposed to the group by its members.

Votes are cast to determine the course of action and then these are decisions are executed – all via the app.

The aftershocks of such developments have overall been rather positive. Sectors once considered non-accessible or too costly for the average millennial are now represented in an interesting, easy to use and mobile-friendly format.

Users have also experienced the added benefit of having more autonomy over their investments.

 

However, such fintech apps have not evaded criticism, with some arguing that as profitable as micro investing seems, the figures do not add up.

For instance, the monthly flat fee of $1.25 per month for use of the popular Acorn app, has been cited as incredibly high when the alternatives are considered.

Yet arguably, such platforms are widely viewed as a bit of fun rather than a serious investment hub.

They provide an excellent opportunity for millennials and the like to test the waters, explore their curiosities and acquire knowledge that will aid their financial decisions in the future.

 

Despite accusations of millennials being short-sighted, the last few years have also seen an increase in the younger generation taking responsibility for their financial education, planning, and health. Consequently, DIY finance companies have experienced an upward trend in their user base.

Nerd Wallet, for example, is a financial education site that provides tips on products such as credit cards, mortgages and personal loans.

This site has become an authority in the personal finance sphere and gone from strength to strength since its inception in 2009 by teaching its customers how to make wiser financial decisions and make their money work for them.

The Simple app, a budgeting, and saving tool that helps people meet their financial goals is also gaining considerable ground in the sector for similar reasons.

 

With so many changes taking place in the financial technology space, industries closely related to fintech are reactively undergoing their own reforms to stay relevant and we need not look far to find them.

Alternative funding options have become available to small to medium businesses (SME’s) such as peer to peer lending platforms and flexible lines of credit that work similar to overdrafts.

Consequently, SME’s are increasingly bypassing the infamous red tape and bureaucracy typically associated with traditional bank loans; to make their business goals a reality.

 

 

These new offerings are also transforming the way small businesses control their finances; making them more efficient, well-resourced and better able to manage their cash flow.

The shift places startup owners in the driver’s seat and is fuelling the growth of the entrepreneurial landscape at an impressive rate. For example, Fintech start-ups like Growth Street cater to such small businesses with their flagship product, Growthline.

A flexible line of credit starting from £25k- £2m that works like an overdraft created for start-ups and SME’s with £100k+ in revenue.

Growth Street also advocates responsible lending and spending by offering cashflow forecast tools to help their clients decide what they can and cannot afford.

Due, an invoicing, payments and cash flow management platform, ensure they always know their numbers.

 

The changes have not stopped here. Gen X’s and millennials have shown a preference towards using their investment to make a difference.

Social responsibility and ethicality feature prominently at the core of their investment philosophies, much more so than their predecessors. In fact, according to Barclay’s Impact Investing report in which 2,000 investors were surveyed, a rise of 15% was recorded in allocations to impact investments since 2015, led largely by millennials and the trend shows no sign of slowing down.

Yet something is causing the older generation to be wary of impact investments. Barclays also reported that 43% of investors surveyed under 40 years old had made impact investments compared to only 9% of people aged between 50-59 years old.

Also, just 3% of investors aged over 60 chose to make impact investments. This serves to reaffirm that the vast variance investment styles exhibited by baby boomers and millennials. cannot be understated.

 

Although the younger generation continues to drive innovation in fintech, only time will time whether such apps and services have a permanent place in the financial management space. But, if their progress is anything to go by, the odds may well be their favour…

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Could Artifical Intelligence be the saving grace eCommerce brands have been searching for?

Not too long ago, it was considered the norm that a busy professional, after a long day’s work, would wander the stores.

They would refer to their handwritten shopping list as they gazed at the overwhelming shelves of products, all the while thinking about the million and one things they had yet to complete before bed. A solution was needed and fast. Step in Artifical Intelligence (AI).

This routine is becoming a distant memory for the early adopters of AI. As it becomes more sophisticated, AI is spearheading a slow death to the schedule we have all been far too familiar with.

 

And why not? After all, People are tired and busy. They want their goods delivered to them with little to no effort and they want it done fast.

Voice intelligence software such as Google Assistant, Cortana and Siri were to introduced to cater to the needs of their owner be it shopping, memo building or even life advice.

Consequently, they have been received with open arms by the masses and now can be found on most desktops, mobile phones, laptops and in even bought as standalone devices.

Some companies have even taken things a step further. Voice shopping using tools like Alexa can order goods on your behalf via the Amazon store as well as other retailers by utilising simple voice commands.

This has completely removed the arduous task of hauling heavy shopping bags home from the ‘to do’ lists of people worldwide.

Furthermore, apps such as Out of Milk, a shopping list app that can generate your entire grocery list by voice command alone. This invention means even the prep work for your weekly shop can now be automated.

This app also allows users to make alterations to their list such changes to quantity and removal of items and just like Alexa, it is impressively all done using just the person’s voice. A win for the AI savvy consumers.

 

It only takes a quick glance around your train carriage during your commute to see the rapid adoption of technology. Most often, everyone is plugged into some form of electronic device.

It’s no surprise then that consumers are becoming increasingly tech-savvy and are using their proficiency to boost their productivity. This has led to unchartered territories being unveiled which present huge opportunities for eTailers to establish themselves in specialised fields.

These have not gone unnoticed. In recent years, tech giants have been churning out cutting-edge advancements in the artificial intelligence sector and at an astounding rate.

 

The approach has largely been to attack fast and heavy to obliterate the market share of their opponents. And who can blame them? The pressure to impress is undoubtedly on and their fears of losing market share not unwarranted.

With tightening budgets, increased competition from the ever-expanding global market and precarious economic conditions, companies need to find ways to remain at the forefront of their customer’s minds to just stay in the game.

Just last year, eMarketer predicted that Amazon Echo would dominate the voice intelligence sector and hold 70.6% of the market with Google Home lagging behind with just 23.8%.

However, according to Strategy Analytics, it seems 2018 has brought more favourable results for Google who shipped 2.4 million Google Home products in the first quarter compared to Amazon’s 4 million Amazon Echo products shipped.

 

Although Google and Amazon are both making significant headway in the voice assistance space, it’s clear the pair will continue to battle it out to become the consumer’s go-to device for voice assistance.

Google has its work cut out for itself as the ball is still very much in Amazon’s park. Google’s partnership with Home Depot and Walmart could be viewed as an acknowledgment of this and an enthusiastic attempt to cawl back market share from Amazon.

It is clear businesses are beginning to realise that innovation is only half of the battle. To thrive in such tumultuous times, companies need to stand out as the undisputed authority in their niche and become more efficient in the process.

 

Some eCommerce brands have turned to AI themselves, to help them reach these goals, using it to deep dive into their customer’s behavioural patterns to establish their wants and needs.

This information is then used to predict the customer’s buying plans, so the company knows what the customer wants before they even know themselves and can prepare their business accordingly.

For instance, North Face, a very popular eCommerce brand in the Fashion space, enlisted the help of IBM’s Watson AI technology to help customers find the perfect jacket.

Watson combines the customer’s real-time data inputs with its own insights such as the location of the client to determine the best jacket option.

 

Delving further into the use of AI in eCommerce, the use of chatbot is also proving to be a popular trend.

eCommerce brands of all sizes are using them to respond to frequently asked questions and troubleshoot issues. This saves them from having to cover labour costs associated with hiring and training employees.

 

But perhaps the best example of AI meeting customer demands and driving efficiency is Amazon’s cashless and checkout-free store, Amazon Go.

From start to finish the entire shopping experience is controlled by highly advanced algorithms and sensors which can detect a myriad of actions such as when an item is added to or removed from a cart and when a customer leaves the store.

The transactions are charged automatically to the customer’s account upon exit, providing a quick, seamless, and relatively stress-free shop.

Despite the initial investment, such technology has the potential to strengthen the bottom line of forward-thinking brands in the long term.

As the reduction in costs experienced by shifting from employee-led to AI-managed customer service is realised by these trailblazing eCommerce brands, we may see its adoption expand into a wider pool of tasks and industries.

 

Some may question, the true benefit of AI aside from scraping a few takes from a person’s plate. Well, the use of AI by businesses is arguably helping both sides of the table.

Customers have a user experience optimised to their tastes and suffer less frustration and overwhelm whilst shopping due to this. Companies also benefit as they can identify, convert and retain their ideal clients with greater accuracy and speed.

This prevents companies from targeting the wrong prospects and avoids the need for any guesswork in product development and marketing, wasting less company resources in the process. This is highlighted by Mintigo, a predictive marketing company that helps companies secure more qualified leads through the use of AI.

The automation aspect AI also provides significant time savings as companies no longer have to sift through large data sets on CMO’s and can now redirect these funds in other projects. Meaning,  companies that are able to harness the time-saving powers of AI can use their funnel their new found time into other projects to fuel their growth.

 

It has long been established that algorithms are able to outperform humans in speed and accuracy.

As they become more sophisticated, stronger capabilities in the analysis of data and prediction of outcomes their use could be a goldmine for businesses that are able to harness the power of AI. Whether this is through collaborations with tech giants or creation of their own AI technology, the opportunities appear fruitful.

In a climate where there is no room for error or building a flaky customer base, embracing technological advancements is no longer optional but rather a necessity. AI might just prove to be the saving grace eCommerce brands need.

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Ad Copy

Sample Print Ad copy for Cashback & Travel Rewards Card

Yve Asa - Ad Copy Sample - Captive Copy

Sample Explainer Video Script for an Electronic Diary Company  

Sarah runs a busy illustration business. Her day is jam-packed with client meetings and juggling multiple projects.

She does her best to stay organised but then, one-day disaster strikes…

Just as Sarah arrives at a prospect’s office to discuss a lucrative contract, she realises she’s forgotten her diary containing sensitive client information – in a busy café.

This wouldn’t have been a problem if she had used Aleter’s cloud-based eNote.

Aleter’s real-time cloud syncing and remote deletion features would have kept Sarah’s work safe and ensured she could access her work in seconds.

Ateler’s eNote’s tracking software would have made it easier for her to locate her eNote and would have prevented her private project details from falling into the wrong hands.

The story would have ended happily ever after.

But Sarah chose a paper notebook.

Don’t suffer the same fate as Sarah. Protect your work, secure your business.

ALETER, protecting your work, remotely.

Long form Ad Copy for a Facebook Marketing Agency

Headline: Finally, an easy strategy that helps you get leads FAST

I want to tell you a story. When I first started out I struggled to secure relevant leads at the rate I needed to sustain my business. To make matters worse, I had a small team and everyone including myself was constantly running around trying to get everything done.

It seemed like there weren’t enough hours in the day. We were busy but had little to show for it.

So, in a desperate attempt to save my business I got to work. I posted on social media – no one cared. I tried Instagram collaborations; the only ones who benefitted were the influencers who got to keep the products I couldn’t afford to give them. I even started commenting on forums, trying to ‘add value’ and get noticed as the marketing gurus had suggested and guess what I got – that’s right, you guessed it. Crickets …..

We were running out of time and money at an astonishing rate. I had to think of something. I frantically scoured the internet searching for an answer (it was so hard I almost gave up at this point).

This was my last attempt and told myself if this didn’t work I’d pack up my business, update my resume and find a full-time job.

but before I concluded that I was cut out for the entrepreneurial dream, I decided to give Facebook ads a try using £50 of the last £200 I had and some knowledge acquired in my course junkie days. I felt nauseous as I hit the publish button. There was no other option but success anything would have meant we were royally screwed. I closed my computer and went to bed (I may or may not have shed a few tears before drifting off to sleep).

Anyways, I opened my computer the next morning, blurry eyed from the terrible sleep I’d had and couldn’t believe what I saw. My ad had generated 3,000 visitors in a single night and the orders were pouring in. I had cracked the code. I was ecstatic and after a few hours of celebration, I got focused. I sat down and started pouring through our analytics to find any trends. Then I began optimising and split testing to come up with a bulletproof strategy that would increase the odds of my next product launch.

And guess what? IT WORKED!

My business’ income began to stabilise and I was able to pay off my debts and give my employees the raises they deserved. So amazing but talk about a freaking close call!

Because I’ve been where you are, I know how you feel and what you all to succeed, I’ll be sharing the EXACT strategy I used to save my business from total ruin in my FREE WEBINAR.

In this webinar you’ll learn:

  • The fundamentals steps marketers take to analyse their market and prospective clients
  • Where to conduct in-depth market research to use in your ads
  • How to appeal to your prospect’s pain points and solve their problems to gain their trust
  • How to set up your targeting for maximum effect
  • How to build a lucrative funnel with the end goal in mind – sales!
  • How to A/B test to create your very own failproof strategy

Don’t miss out on the chance to get your business on track. Secure your seat, secure your future.

CTA button – Secure my seat

*****Hey there! Yve here, Like what you see? If so, please get in touch! I would love to help you take your content to the next level.*******

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