5 reasons to consider before developing a mobile application for your company

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5 Social-Media Trends to Prepare For In 2019

Recently, social media platforms have evolved from simple communication medium to a full-fledged news, entertainment and marketing hub. With new features and this year’s innovations like IGTV and Snap chat’s Story Ads, all social platforms are racing against each other to keep its users engaged and entertained – which signifies that your company shouldn’t be left too far behind. To keep up with these current social media trends brands need to upgrade themselves by reevaluating their strategy to thrive in this ever-evolving industry.In this dynamic landscape, marketers and businesses are vying for ways to stay ahead of the competition by boosting brand awareness.Here are few pointers to keep in mind as you prepare your social-media calendar for 2019Social CEOs will become the new customIn the digital age, one of the most prominent changes we have noticed is how we perceive a company's frontrunners. Lack of online presence and transparency with the audience has diminished public's trust about the brand. However, in 2019, CEOs and other company leaders need to use social media extensively to share their insights, connect with their community, and listen to their audience. Making social media a part of doing business in 2019 is imperative for the success of the brand.User-generated content will make brands' efforts more reliableUser-generated content will do the trick if your organic social reach is on the decline.  Instead of spending hours crafting unique content for social media, one can rely on user-generated content from their actual audience base which will increase the engagement more authentically and build a stronger relationship with the followers.LinkedIn Dynamic Ads are making ads more subjectiveWaving off your new members through invasive or impersonal ads would be the last thing any marketers would do to their TGs. Luckily the new feature rolled out by LinkedIn would help you to avoid such errands. With LinkedIn Dynamic Ads one can customize paid ad content and cultivate more authentic communication with their target customers.Social listening will give brands an edgeEngaging your audience is the thumb rule of any social strategy! So while developing your social media plan, put the effort to hear your audience to balance the engagement equation.  Social listening comprises analyzing conversations, phrases, and other details about your brand and competitors. Social listening tools can help to identify patterns and collect meaningful interpretations. Using that to your advantage can significantly benefit your campaigns in the future and give your brand an edge over the competition. Instead of bombarding with promotional content, focus on engaging with your followers.Instagram Stories feature will get more prominenceIn the last few years, Instagram Stories have become a popular way for users to constantly update their profiles, keep followers engaged, and, in some cases, even increase follower base. From the past trends, it has been observed, possibly the most valuable content is short-lived. To make the most of this feature, one can share pictures or behind-the-scenes videos that give your audience a glimpse to the ethos and culture and make them feel like a part of your brand. However, overwhelming your followers with a dozen posts a day would definitely impede your Social media strategy.The goal is to implement these trends by next year while many of them are already in use. So, keep an eye on what social media experts and other leaders in the industry are saying and incorporating in their marketing plan and rework on it to beat the competition with an exceptional social-media strategy for 2019.

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Top 5 Insurance Industry Trends to Watch Out In 2024

Internally, this industry is plagued by issues like ever-evolving customer demands, enhanced risk exposure, changing regulatory compliances, and increased occurrences of fraud.Adopting new digital trends is imperative if this sector wants to negate the effect of the above-mentioned factors. These trends also gain significance because they simplify the daily life of customers and employees alike by:Creating an intuitive, frictionless customer experienceReducing low-value, repetitive manual efforts put in by employeesImplementing Integrated Risk Management(IRM) initiativesThe insurance sector is a late bloomer in the field of technology adoption. It has, however, progressed to adopting Data Analytics and data-generated insights. Leveraging them has helped this industry to understand customer needs and preferences and pinpoint new growth opportunities.The ongoing digital transformation process, as illustrated by the integration of new technologies like IoT and AI, is making this sector increasingly competitive. Keeping up this momentum in 2024 will enable it to digitize the products and services offered, enhance customer engagement and drive inclusive sustainabilityAdditionally, for a perceptibly customer-centric industry, the ongoing tech transformation has exponentially escalated customer demands and made them more powerful. The ability to compare products for prices and suitability with just a few clicks has placed improving customer experience at the center of all upcoming insurance trends.ESG compliance to remain a key focusThe insurance sector faces a unique issue. Along with being evaluated based on their sustainability reports, insurers are also appraised on initiates taken to address carbon emissions, enable workforce diversity and increase governance transparencyGovernment and other such authorities have even introduced compliances that make it imperative for insurers to transition to a low-carbon economy and initiate procedures to manage climate-related risks better. Insurance companies are also swiftly realizing the commercial advantages of becoming Environmental, Social, and Governance(ESG) compliant. Statistics show that 85% of global insurers consider better ESG compliance necessary to transform brand reputation, investments, underwriting, risks & internal audits. Consequently, ESG compliance is now a competitive differentiator, and insurers must proactively focus on implementing initiatives to meet ESG requirements. Popularity of underwriting workbenchesInsurance underwriting refers to the process of assessing the risk potential of a customer. Underwriters have to analyze the business based on several factors, define the acceptability of the risk posed, and calculate a fair price for the coverage to be offered. The criticality of the work involved makes underwriting ideal for implementing automation, thus giving rise to the concept of the underwriter workbench.A centralized workspace containing a collection of all digital tools necessary for the successful execution of the underwriting process, is referred to as the underwriter’s workbench. They are a relatively novel concept. Underwriters have recently realized the convenience of using digital tools to quicken the entire process and make it more accurate. Additionally, the widespread use of automation, Artificial Intelligence, and Machine Learning in other insurance processes has catalyzed the adoption of underwriter workbenches. This accounts for the rapid rise in its popularity in the recent past.AI and process automation to lead from the frontThe digital transformation of other sectors has given customers a taste of a frictionless and convenient experience. Today, they expect the same standards from the insurance sector. Hence, process automation is mandatory if this sector wants to meet these customer expectations quickly. A report published by McKinsey predicts that by 2040, 55% of all insurance processes will be achieved using AI or Artificial Intelligence and ML or Machine Learning. McKinsey further states that automation will reduce the cost of a claim process by as much as 30%, which is substantial.The start of this trend is already evident in the collaborations insurance carriers are building with insurtechs. Leveraging the AI-based business model of these insurtechs is helping insurance carriers to evolve and adapt to the rapidly transforming business landscape. Capitalizing on the efficiencies generated by RPA, AI, Big Data, and Analytics will further help these carriers to streamline their operations and lower costs. They will also witness higher growth by meeting customer expectations and enhancing data security. Further, AI, as a technology driver, is responsible for giving rise to a critical trend in the insurance sector. This trend will lead to the massive evolution of the insurance sector with large-scale integration of AI, automation, and deep learning. Insurance players who evolve with this changing landscape will continue to thrive, but those still holding on to conventional systems might be forced to re-examine their strategies.Partiality toward Low-Code developmentThe insurance sector primarily needs a user-friendly and efficient website that can enhance customer satisfaction. The affinity for low-code websites in the insurance sector is a direct outcome of this need. Low-code websites typically have significantly fewer lines of code written compared to a traditional website. Such websites can be easily and quickly updated without undergoing the cumbersome website redevelopment process.  With customers’ appetite for the latest information evolving rapidly, this accelerated time to market for insurance sector applications has proved a boon.This is further corroborated by statistics as shared by Garter, which shows a growth of 22.6% in the market share of low-code digital insurance platform development. Alternatively, the development of high-end customized websites has declined by 23%. This proves the legitimacy of low-code development as a leading trend in the insurance sector for 2024.Preference for self-service capabilitiesCurrently, most insurance companies utilize the services of call centers and other such channels to handle customer queries and requests. But with workflow digitization resulting in increased customer convenience, there is a perceptible preference for self-servicing capabilities. Irrespective of whether the insurer is tech-savvy, there is universal gravitation towards automated processes. Today, customers want to self-manage policies, make premium payments, and raise and submit claims using self-service portals. With such high demand, insurance companies must upgrade their capabilities and opt for complete workflow digital transformation. Opting for this trend will prove to be counterproductive as insurance companies will benefit from:Reduced customer acquisition costsHigh customer retentionIncreased insurance agent productivityQuicker and less costly claim processesEnhanced customer loyalty resulting in better referralsFurther, implementing data analytics will empower insurance companies with customer behavioral data. They can provide personalized services and offer real-time assistance based on the same.The active adoption of the above trends for insurance digital transformation is no longer an option. It is a necessity that promises to lead the insurance sector toward offering enhanced customer experience,  saving operational costs, and innovating products and services. For a sector that has conventionally enjoyed stability and predictability, driving the above trends will help it to navigate the current uncertainties and achieve some semblance of the same stability and predictability.

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Installing Chatbot Automation on Different Platforms for your Brand. Why Do You Need it?

Installing Chatbot Automation on Different Platforms for your BrandYou’ve heard the buzz of Chatbots replacing mobile apps and also email marketing. Not only that, with more remote working criteria sprouting out for social distancing norms, chatbots will also replace the customer care agents. Chatbots will bring down your costs and increase your revenue too while you sleep!There’s a lot of hype floating around right now about chatbots in general, and Messenger bots in -particular. According to a survey, it’s no surprise that 75-80% of businesses want a chatbot in place by 2021. Can bots really do everything they promise? It’s still early days. In the meantime, here are some best practices and real-world examples to give you a firm footing in this engaging communicative trend.Basically, A chatbot is an automated messaging software that uses AI to convert visitors into leads. Bots are programmed to place smart questions, acquire answers, and execute tasks. From a customer’s perspective, they’re a friendly and accessible time-saver. Rather than opening an app, running a search, or loading a webpage, your customer can just type a message, as they do while chatting with a friend. Chatbots have been around in some form for decades, and they exist on web pages, in apps, and on social media.Top 5 key benefits the brands realize when using chatbots1. Save countless working hoursMessenger chatbots automate conversations that require an associate to respond, the organizations save time and the money allocated to this round-the-clock customer support. Instead of spending immense time to meet all the queries, those employees can allocate their time to complete relevant tasks. With a substantial amount of inbound message quantity increases, the organizations save countless hours by automating responses with a chatbot.2. Generate leads and revenuesChatbots use messages to gather information to provide effective support. Messenger automation initiates automatic questions like why the users are visiting the page in every engagement. This automated initial interaction assists the users in finding the right information required from the service provider. 3. Guide users and direct them to the best possible solutionAt times, the customers get confused about the information they need to find out. Often, they just want to explore your brand to gain additional knowledge over what they already know. Depending on the business type, the automated chatbots ask a series of qualifying questions to find the information they need that will route the visitors to the best possible solutions. As an example, in global organizations like Airlines, the common questions are regarding the departing location, arrival locations, tickets purchase, airline customers, and more. By personalizing the questions a messenger chatbot asks, the airlines redirect their potential passengers to have a better user experience.  4. Offer 'After Hours' supportThe most popular use of Chatbots is to provide round-the-clock support and instant answers in an emergency. Most of the organizations could not offer help-desk support after the close of business hours. With the installation of robust messenger chatbots, consumers will get quicker responses and can access the information they need even in the wee hours. According to research, a brand usually takes 7-8 hours to respond, while the customers expect a response between 0-4 hours. Hence, chatbots help to decrease the average time significantly to respond and bring you closer to your customer's expectations. 5. Engage users via a fun and interactive way Customer questions were usually redirected to business via email which made the user experience non-customized and fairly standard. Chatbots offer a fun and interactive way to get engaged with brands. A famous pizza delivery chain allows its customers to order their favorite pizza by simply sharing the emoji. The chatbots then route the orders and ask additional necessary questions to deliver the order successfully to the customer's doorstep. These seamless and memorable user experiences ensure that your brand creates a good impression upon your users.Getting started with chatbotsEager to start creating your own chatbots? Once you get beyond the initial fear of letting a bot assist you, the idea of launching and creating your own is exciting. Think of all the time that can be saved for new activities. Let’s take a walk through the most important things to consider and the steps to implement when getting started. 1. Define your goalWith such a wide spectrum of interesting use cases to choose from, it’s tough to nail down a specific goal for chatbots. Spend time doing some discovery at the onset to define your goal and then start to craft your use case. Whether you are looking to resolve customer service issues, promote a new product, or generate quality leads? You need to engage with your visitors.If your marketing team finds they can’t keep up with the number of messages on certain networks, you should leverage bots on those channels. Chatbots have the potential to increase conversion rates. When you decide to design and install a chatbot for your brand, be mindful of what you’d like to accomplish through it as you begin to build out the experience. 2. Choose platforms to leverageYour chat conversations will differ based on the pages, channels, and networks. Someone coming to your homepage is likely to be more knowledgeable of your products than someone who gets to one of your blog posts. Your chatbots need to be programmed accordingly. As demographics differ for each individual social network, some visitors who visit your Facebook page are surely not asking the same questions to your Twitter page. Analyze the social media chatbot demographics by the social network to get a better understanding of those differences.3. Work on your content strategyNext, figure out what content you would like customers to engage with throughout the chatbot interaction. Try starting with FAQs by tactfully designing some questions that the customers are likely to ask your chatbot. This is how you build out the proper flows to guide the users to the best possible answer. If you are unsure of the frequently asked questions, study the following segments to know your customers more.Customer service: Your customer help desk representatives usually talk to your customers more than anyone else from your organization. Interact with them to know the trends and the most-asked queries the customers have.Sales: Your sales team probably chats more with prospects frequently. Check out what questions drive converting the customers to lead.Marketing: Your marketing team, and mostly your social media marketing team, will have insights on why individuals reach out to you on social channels. These questions are crucial to know before designing and installing bespoke social media chatbots.Quora: Quora is a site where most of your potential users ask questions about anything, including your brand. If you notice any trends in questions being asked, you may want to consider adding them to your chatbot.If you choose to be more creative and opt for a more marketing-focused experience, then evaluate what existing content you have that best supports the credo of your organization before creating new content. 4. Craft the voice & personality of the chatbotsGive your bot a personality that aligns with your brand and humanizes the user experience. To let customers know they are talking to a bot, many brands also choose to give their bot a name that gives them the place to be transparent with customers while upholding a friendly tone. You should engage the copywriting teams in the process to set a consistent tone and clear guidelines for your chatbot. Your bot’s personality must carry the fun element with the message to let users enjoy sharing their thoughts and opinions. 5. Write a great opening messageThe welcome message is incredibly important to engage users and prompt them to respond to your bot. The opening messages must be compelling, set expectations, and ask questions. Automated does not mean it has to sound robotic. Just make sure to maintain your social brand voice. Let customers know they are chatting with a bot so they realize the potential conversation limits. Ensure captivating the customers’ attention by asking some hooking questions that will keep the conversation going. Make sure your bot compels users to answer the question by mentioning they are getting started on their personalized journey. 6. Build conversation with visual componentsFor every question, the bot asks, and each response available for the user to choose, it must be continued to build out the conversation by sending more compelling messages by including emojis, images, or animated GIFs to your chatbot conversation. Not only does media bring more personality to your messages, but it also helps reinforce the messages you send and increases conversion rates through chatbot conversation.Some conversations may stop after one question, and some conversations may span multiple levels by ensuring that all conversations completely satisfy customer needs. When the conversation reaches several layers deep, it may push that user to a live representative. 7. Reorient customers to checkout using Call-To-Action buttonsThe chatbot interaction culminates with the call to action once the users have responded to all of your questions and are ready to move forward. Your call to action is a button you can add to your chatbot conversation to drive users to a specific goal. Implement call-to-action buttons to lead consumers to a specific service page or product category on your website or directly to the checkout page. Your bot can be your most valuable conversion tool by redirecting the visitors to their ultimate destination where they require to land. This is vital because engagement with your brand could lead to high-value conversions at scale, without the time and effort invested by any manual sales assistant. When the users continue to interact with the bot, the marketing team leverages CTAs to push interested users to their business pages to get more information.8. Evaluate your conversationsOften chatbot journeys may become a little complex for non-tech-savvy users. In order to make sure that all users are finding valuable information, and not getting stuck with their experience, make sure to evaluate every single possible interaction.Most chatbot platforms have live preview functionality that enables different ways to test all of your flows without pushing your bot live. Make sure to monitor users as they interact with your bots and there are no leaks in journeys or places where individuals consistently get stuck. ConclusionYour Brand’s chatbots must be adaptable to communicate with the visitors, channelize their requirements to the basic need, turn them into leads, and generate revenue for your business. The digital world is in a constant state of flux, which remains adaptable to change and makes continual improvements.