Tag: Tech

When was the last time you used cash? It seems like an age ago that we would regularly go to the ATM to withdraw cash so that we could have some spending money on a night out. Now you don’t even need your bank cards to pay for something. You just need your phone or smartwatch and people don’t go anywhere without being connected in some way. It may seem like it wouldn’t be that hard to become a cashless society when we all use contactless for the majority of our payments. So, you may be surprised to hear that there is over 70 billion pounds worth of notes in circulation, that is roughly twice as much as a decade ago or the equivalent of around £1,000 per person. It was only in 2017 that debit cards overtook cash as the most used method of payment in the UK. How easy is it going to be then to become cashless and when will it happen?

Initially, it was thought that we would be cashless by 2035 but with the rapid advancement in technologies such as mobile and digital payments, the prediction has changed to within the next 10 years. But 70 billion pounds in cash can’t just be taken straight out of circulation, it needs to be phased out and that is a huge task. One such event that has accelerated this process is the national lockdown. Cash usage in Britain halved in the first few days of lockdown, according to Link. But this was an extreme reaction to one event that has helped push us towards being cashless but will not be the main reason. There have been many companies pushing for a cashless society for a while. Companies such as Visa and Amex say that becoming cashless will help reduce financial fraud and tax evasion. Then there is Square and iZettle who have seen huge business growth by introducing methods for small businesses to take contactless payments with ease. These companies are the ones that are changing the infrastructure to make it possible to phase out cash.

Despite making great strides towards becoming cashless there are always going to be challenges that need ironing out. Charities are likely to struggle initially, people tend to use cash to make donations and gifts. Tradespeople are often paid in cash as well, but new technologies should allow these small businesses to take mobile and card payments. With an ageing population, there are likely to be age groups that are to be marginalised by going cashless. A study revealed that Brits liked having cash available ‘for peace of mind’. This is evidence that there is still some work to do on our mentality towards cash.

If we were to take inspiration from another country then we should look to Sweden as they aim to become the first cashless society by 2023. It seems apt for Sweden to be the first as they were the first European country to adopt the banknote in 1661. One of the reasons Sweden is set to pioneer is that it has a mobile payments app called Swish that was created by six of the largest banks in Sweden that is becoming the standard method of payment. Another reason is banks are issuing debit cards to everyone over the age of seven – with parental permission, of course. By doing so it ensures that cashless becomes the norm for future generations.

The use of cash will continue to fall over time and whether we like it or not a cashless society is the future, but there are still some big changes needed so that everyone is able to participate and thrive in a digital economy.

“Let’s meet for brunch and then spend the afternoon shopping.” Brunch? Yes, absolutely! Spend the afternoon shopping? No thanks! Those four words have me running for the hills: the crowds of people; constantly feeling rushed; not finding anything that catches my eye. And don’t even get me started on queuing for the changing room!

For me, it’s online shopping all the way: the convenience (not laziness!); the accessibility; the choice. And, quite clearly, I am not the only one. In a study performed by Orbelo, there are roughly 7.8 billion people in the world and it is predicted that more than a quarter (26%), or 2.05 billion of them, will be online shoppers by the end of 2020. Furthermore, a report by global professional services firm Alvarez & Marsal estimates that 17.2 million British consumers plan to make their switch to online shopping permanent as perceived risks of contracting COVID-19 at physical stores redirects spending into online channels.

Online consumerism is not only here to stay but is on the rise. With this comes increased competition as retailers look at ways of developing new engaging, interactive online experiences that go beyond just click and collect or delivery: the next level experience for shoppers, enticing them and drawing them back. Cue AR.

Augmented Reality (AR) is being used by retailers to take their online shopping experience up a notch to establish an advantage over their competitors. To remain competitive and profitable, it is no longer enough just to have an online presence. An online shopping experience must now be personal and interactive to help ease buyer uncertainty and drive profit through consumer satisfaction.

You can only imagine my delight in this world of AR coming to life from the comfort of my own home. It’s essentially bricks and mortar shopping but remotely – far removed from heaving crowds and deafening background music.

Ever made an online shopping mistake because you didn’t notice the pair of trousers being listed as high-waisted before clicking “pay”? No longer an issue thanks to ASOS’s Virtual Catwalk. Want to make sure your coveted IKEA sofa will look good in your lounge? Never fear, there’s an app for that now. Even the wine world is upping its game with Living Wine Labels combining history, virtual integration and good wine (19 Crimes Red Blend – 110% recommend and not just because of the Irish-accented label talking to me).

And it’s not just consumers benefitting from AR. Retailers are reaping the rewards of AR as well, which include better product exposure, improved online sales, increased customer loyalty and reduced returns.

Although AR is still in its infancy, the technology is already becoming integral for major retail brands and it’s becoming clear that the time for retailers to invest in it is now. This new wave of immersive shopping is setting new expectations for today’s digital customer. In fact, 71% of consumers say they would shop more often with a retailer if they used AR and, by 2025, it’s predicted that AR will be common place.

I wholly expect this trend to not only continue but to be developed even further in this sector as more shoppers utilise online shopping and competition between retailers heats up. So, while sitting in the comfort of my lounge, wishfully “trying on” Gucci footwear that I most definitely cannot afford, I eagerly await the emergence of the future exciting online retail AR ventures that will no doubt give me further reason to stay put and shop online!

‘The Future’ – all rather exciting, isn’t it? Especially after spending months in lockdown. As the world around us continues to grow and evolve, so do the industries and products that we create: food, music, fashion, technology. Technology is a big one. Can you believe that there are twenty-four different types of iPhone to date? Twenty-four?! Granted they are the size of small laptops now and it’s amazing to think that the top-dogs over at Apple still see room for improvement.

That’s what the future of technology is all about: improving tasks that can be actioned quicker. Pictures that can be taken faster, and in better quality. God forbid if we ever must pick up a pen again – surely we can type everything moving forward? While the idea of a digitally driven life is seen to be smart and efficient in the eyes of many, it’s important that we acknowledge the man-made creations that we would be giving up as a result of these progressions. If typing were to replace the physical act of handwriting, then the humble biro would become obsolete. The notepad would be forced to retire. As we welcome the future of technology, we unfortunately wave goodbye to pieces of our past.

This year, Argos announced that it would be ceasing the publication of its legendary product catalogue after forty-eight years of development. The world’s thickest Christmas wish list (as seen through the eyes of me and my sister) will no longer be regularly printed by January 2021. Speaking with BBC News, Mark Given, chief marketing officer at Sainsbury’s, claims that customers’ tastes “have changed over the years” alongside their shopping habits; where an “increasing shift towards digital shopping” has resulted in the decision to cease the Argos ‘book of dreams’. Here lies a prime example of the cost that comes from the digital revolution, the price we pay when technology presents quicker alternatives to traditional methods.

While many see change as a daunting and threatening presence, we must also remember the good that comes from evolving technology. Another announcement made this year details how Sainsbury’s is testing a virtual queueing system  that will allow customers to wait for entry to the store from the comfort of their nearby car or local café. The Times reports that the idea behind the app is to prevent shoppers from waiting in the harsher weather come autumn and winter, when socially distanced queueing will be less appealing. I’m sure the creative team at Sainsbury’s HQ got a pat on the back for that one: a prime example of the benefits that come with the growth of technology. Why waste your time in a supermarket queue when you can be defrosting from the cold, winter air in your car parked meters away? Genius.

The future of technology is truly a mixed bag; we will feel remorse and sadness at the loss of old friends, but we will also embrace the arrival of ‘new normals’.

While June saw the reopening of many non-essential shops (dependant on the following of new COVID-19 secure guidelines), it’s now the turn of pubs, bars, cafes and restaurants in England to welcome back customers for the first time since lockdown began in March.

From tomorrow (July 4^th) England will also see the likes of hairdressers and cinemas opening their doors once more. However, for the hospitality industry, as they start to resume operations, entering these establishments could be a very different experience from how it was before the coronavirus outbreak and much of the sector’s success will rely on technology to ensure the safety of both customers and staff.

To support the NHS’ Test and Trace initiative, the government is encouraging the likes of pubs to take records of customer data, including visit duration and name and number, when they enter the premises and maintain that information for at least 21 days. As well as having your pub session monitored, customers can also expect to be more widely using food and drink ordering apps to reduce contact with staff members.

Despite these safety measures, a recent survey from EY stated that more than two-thirds (67%) of UK consumers believe it will take months or longer before they feel comfortable going to a restaurant, with similar sentiments for visiting cinemas and bars/pubs.

Quite rightly, EY also identified that this reluctance to flock to the pubs when they open has caused a rise of the ‘anxious consumer’. With this in mind, it’s worth considering that while many backend operations have had to be put in place for businesses to integrate new apps and technology, in the months they’ve been closed, many establishments won’t have had the time to expand their own or their staff’s digital knowledge – particularly as the ONS found 80% of hospitality staff had been furloughed in this time.

Those new to this increased level of digital services also have GDPR to contend with which could become a legal minefield if not correctly monitored. Customer data is going to be pivotal to successfully and safely keep food, drink and entertainment businesses open, so handling this sensitive information correctly is going to be one of the most important aspects to a more digital hospitality industry.

As your time-honoured local is set to be a bit more tech-conscious, it’s probably inevitable that there will be some teething issues as they start to work with more app-based ordering and booking systems but hopefully they have used the lockdown time wisely by working with technology partners to help manage their capacity and safeguarding of data.

Ultimately it’s a positive step for England’s economy which has been hit hard since March 23^rd, and as the hospitality sector is one of the UK’s biggest employers and contributes billions in revenue, hopefully this keeps us on a safe path to a ‘new normal’.

There is one question that everyone wants the answer to: what is the secret of success? Whether that’s writing a book, baking the perfect Black Forest Gateau or running a business. In the highly competitive B2B tech market, success has many different elements. As a PR agency that has worked with high performing tech businesses for the past 25 years we wanted to understand more about what success looks like, especially looking at sustained growth.

We spoke to a handful of CEOs and CMOs to get their views on success, the use of PR and marketing and the approaches they were taking to ensure sustained growth, and created the Secrets of Tech Growth ebook.

Interviewees Martin Philpott, CMO of Adatis, Alistair Mackenzie, CEO of Predatar, and Mark Paraskeva, from paiyroll, joined our most recent Team Talk Session to share their insights with us and some of our clients.

Many ingredients for success

Culture, business model, building the right team, and the use of PR and marketing all have a role to play in helping businesses sustain growth. But our focus for the session was on the way that PR and marketing helped these businesses.

The consensus among participants was that communications should be used early on in the growth journey — whether that is to create awareness or as part of a wider campaign. While it’s relatively quick to get started as a business, it is more challenging to stand out once established, and that’s where communications is important. Especially with the right core message and consistency across channels and touchpoints, which often ties in with co-ordination between sales and marketing.

Finding your niche

The interviewees in our session each took a different approach to the use of communications, because there is no one-size-fits-all approach. One company began its journey attending technical forums, presentations and networking events, before evolving into using its colleagues to generate knowledgeable content, and then formalising a defined marketing approach and team. Another relied on PR and marketing to frame its narrative and origin story as it transformed its business model and became a SaaS business — not just for external audiences, but getting buy-in from staff too. While another adapted its marketing approach as it went, with the result that marketing itself helped refine and influence its product development for new audiences that were not initially considered.

While each approach was different, the one common factor was that each organisation ensured its communication objectives were aligned to the wider business objectives. After all, a good idea is only a good idea if it forms part of the bigger picture.

Talking to many

Another point of discussion was around the challenges of addressing multiple audiences — refining different messages for different personas is essential and something that integrated marketing campaigns can help with. Not all audiences engage with content in the same way or on the same channel, but by developing tailored messaging across touchpoints companies can reach their desired audiences.

The biggest secret

In the quest for success, whether that’s achieving sustainable growth, launching a new product or changing business models, we can all agree that PR and marketing plays a starring role. That’s no secret.

So what is the secret to success? Simply put, there isn’t just one. There’s no single point that makes tech businesses successful. Instead, success is all about evaluating your business, your marketplace and the opportunities that exist, while evolving your approach as your business evolves, and making the most of the resources you have in the best way possible.

More secrets to tech growth are revealed in our eBook — download your copy today to find out what they are.

Or keep an eye out for our next Team Talk session. Keep an eye on your inbox and our social feeds to find out more.

We are living in a time that is full of innovative and disruptive technologies. This is supported by the vast number of companies that are receiving huge funding rounds each week, just so they can find the smallest competitive advantage in their market. But with the sheer number of tech companies that are operating in your market, how do you achieve sustainable growth?

This is an ongoing challenge for business leaders. How do you ensure your company is financially stable enough to stay in the market, while continuously investing in your technology to stay ahead of the competition? It’s a bit of a Catch-22 and one that many experts have tried to answer. A good example is Uber who has been operating for over 10 years and received $24.7 billion in funding to date but has never turned a profit. With increased pressure from its investors to prove that the business can be profitable, what are the next steps? What can fast-growth tech businesses like Uber do?

To answer those questions, we spoke to business leaders  who are currently and successfully managing their path to sustainable growth.

Introducing The Secrets of Tech growth — our research designed to answer these questions and shed some light on the experiences of those who are at the helm of successful, fast-growth companies. We interviewed a series of past, present and prospective clients, both CEOs and CMOs, to gather their insights on how their businesses are pushing forward, how they are using PR and marketing, and what advice they would give future market entrants.

The research covers multiple industries and the interviews reveal some shared views as well as differing opinion. For example, some focus their growth on providing customer value, whereas others prioritise company culture..

The views on when to deploy PR and marketing also differ between CMOs and CEOs but the use of it is considered vital in the growth of a company. Some companies opt to use purely digital platforms such as Twitter and LinkedIn and others are focused on staff-generated content. The eBook reveals some reassuring and some surprising yet thought-provoking insights into the journeys, challenges and practices of a cross-section of fast-growth tech businesses.

With over 25 years as an established tech PR agency, that has worked with many fast-growth companies and played a part in their success, we recommend that any fast-growth firm considering PR investment first ask themselves how it can aid their growth plans. Our deliberately different approach ensures that you are getting the maximum out of your investment.

Gain insight into how to achieve sustainable growth in a competitive market by downloading The Secrets of Tech Growth.

A few weeks ago, the BBC’s Technology Correspondent, Rory Cellan-Jones read my mind. I’d been trying to focus on the positives in the difficult and unfamiliar situation we all find ourselves in and this led me to wonder what things would have been like if COVID-19 had hit say 15, or even 10 years ago. The next day the BBC published this piece, exploring exactly that.

The things keeping many of us sane at the minute are video calls with family and friends, digital pub quizzes or virtual exercise classes, social media live stream cook-a-longs with famous chefs or our favourite restaurants. But 15 years ago, before the first iPhone had launched, when Facebook was only a year old and only used by US college students, and our beloved Instagram wasn’t even a pipedream – how different our lives were!

It doesn’t sound like a vast amount of time, but when you look at the evolution and development of consumer technology in the last 15 years, it poses the question – what should we expect in the next 15?

If this year’s CES was anything to go by, there are some weird and not so wonderful gadgets which we could see making their way into our homes in the next decade or so. There are, however, a number of slightly more practical technologies which look set to impact the lives of the average consumer before too long.

Autonomous cars

One of these technologies is autonomous vehicles which I’m sure we’ve all heard a lot about in the press, but it still seems like a long time until you can order a driver-less Uber. Nevertheless, the prospect of driver-less cars is very exciting and it seems certain that with some more refining they will eventually become mainstream, bringing with them cost savings, reductions in road accidents, and potentially revolutionary impact for industries including e-commerce.

Augmented reality

For those of us that enjoy shopping but prefer the comfort of our sofa with a cup of coffee, augmented reality is on the horizon. The technology will enable consumers to pick up products, try on outfits, position a new table in their dining room, read allergy labels, ask questions and then finally make the purchase all using AR. Some are even predicting that Coronavirus will force the hand of retailers and accelerate the automation of the industry.

The smarter home

The ‘Smart Home’ is a phrase that has truly taken hold in recent years and the concept looks set to evolve in the coming decade as home technology advances and it becomes more affordable. You can already purchase fridges, washing machines and other appliances which are fitted with smart displays and sensors and some are even internet ready. There’s definitely a conversation to be had around what data big companies would gain access to and how we balance ethics with convenience, but I for one am looking forward to the days when my fridge can prepare me a ice-cold G&T as I finish work on a Friday.

While it may be doubtful that anyone really knows exactly what will happen in the next 15 years, if technology continues to accelerate at the speed it has for the past 15, then we’ve got a lot to look forward to!