Tag: digital

Categories
HR Tech

Leadership in a digital world

Written by Holly Carmichael on Digilah (Tech Thought Leadership)

The future success and effectiveness of leaders and senior executives will depend on how well they respond to the increasingly important role of digitisation through their business models. Regardless of the sector or size of their organisations, leaders must place technology, not as a function of the business, but right at the heart of it.  

This is a topic we discuss frequently within Criticaleye’s global membership Community of leaders and, encouragingly, almost all have digital transformation high on the agenda.

The relationship between digitisation and sustainability is also top of mind for C-suite executives. The pandemic may have been the tipping point for many on ESG(Environment, Social and Governance) issues, but senior teams are now seeing a convergence between digitial innovation and the focus on creating organisations which are sustainable and responding to climate change.  

Digitisation is revolutionising the business landscape, but what does this mean for the capabilities and leadership styles of executives at the top of organisations? One thing is clear, senior executives have had to adapt quickly. Leading innovation and digital transformation requires flexibility, agile thinking and a mindset that is open to learning from others.

Digital capability

Speed of change is forcing a lot to happen all at once. Technology is now integrated across the whole business. It is not a separate function anymore, such as where the responsibility for ‘technology’ was typically siloed.

The question often arises about the need for technology expertise at the top table. Of course, having an experienced CTO or digital evangelist is important, but building a top team which really understands what new technology can do and will bring to the organisation and customers should be the focus. Our Members generally agree that leaders need to empower teams and technology experts across the organisation, as well as playing a key role in how digital transformation is organised and communicated.

Internally, the use of digital solutions to facilitate remote-team management, ensure wellness, and improve productivity is getting to be an increasingly important agenda item. This is not just to do with automation. It’s about the ability to have real-time data which makes a huge difference when employees are going through uncertainty and rapid change.

Leading digital organisations

The past two years have demonstrated what is possible when organisations are forced to make big decisions quickly. Along with more strategic challenges, such as pivoting business models, leaders have had to revisit their softer skills and ask themselves whether they have a leadership style that is fit for the future. Leaders need to be creative and work differently.

When it comes to technology adoption, these new leadership skills are also coming to the fore. Previously considered ‘soft skills’, we’ve seen a lot more focus from leaders on developing their capabilities in this area. Now more than ever, senior executives need the ability to be open, authentic, agile, collaborative and innovative.

Few executives have emerged from the last two years unchanged. It’s clear that some have acclimatised to the new world – and adapted their own styles accordingly – but they are going to be tested harder, their leadership skills will be under greater scrutiny, so they should take time to reflect on their approach.

Categories
Digi Tech

“Technology and Digital – A Double-Edged Sword”!!

Written by Christina Min Shyan Tan on Digilah (Tech Thought Leadership)

Just like any tools, they can be a double-edged sword.

During this Covid period, businesses are affected, ranging from sales, operations, finance to cybersecurity, as most businesses now have to rely more heavily on digital technology.

Christina Min Shyan Tan at her desk doing business

In my business of sales coaching, training and consultancy, Digital and Tech have the following :

The Pros, The Positiveness

Borderless outreach

Now I can work across borders seamlessly, reaching out to global participants and customers via virtual meetings and webinars, compared to my original plans of only focusing the local market for a start.

Through digital networking and connections, I have managed to reach out to more than 10,000 contact points across multiple countries and new industries within months, which would definitely be impossible with traditional approaches.

High productivity

With virtual meetings, travelling time is virtually eliminated. This allows back-to-back meetings for optimal time efficiency in a forever time-scarce fast paced business environment. I have managed to save a few hours of travelling time a day and double my meeting output weekly.

I am also able to attend live and recorded business webinars and e-networking sessions off business hours.

With productivity applications being easily accessible, my virtual work productivity has also increased with tech adoption from my customers’ end too.

Increased marketing avenues

My business has not been spared from the impact of the pandemic. I have been working on improving on my resourcefulness and creativity to use multiple lead generation streams.

I capitalise on eCommerce in my business operations and eMarketing in my business development. These include optimising LinkedIn and other platforms for business growth and collaboration, building strong branding and digital presence, turning eConnections to physical connections for business wins.

Sales cycles have also been largely shortened due to more effective communication, information sharing and social proofs in the digital space.

The Cons, The Challenges

Reduction in social interactions

Digital and tech allow multimedia communication via text, email, phone calls and virtual meetings. The constraints of regulations have also pushed us into increased virtual interactions inevitably, reducing (if not replacing) face-to-face socialising which is critical for business networking.

The human touch and connection have weakened with also increased skill sets required to harness strong customer engagements and relationships.

Fatigue on eyes, mind and body

While the digital and tech space drive higher productivity, it also results in screen fatigue.

In my case, I meet customers, hold webinars and conduct coaching and training sessions virtually. I hold 2-full-day intensive workshops consecutively. These inevitably strain my eyes and cause body aches with limited physical movement and prolonged sitting.

Having to focus on multiple participants and engaging them virtually needs extra effort, although if done well, will still not hamper business outcome.

Distractions

The avalanche of digital information across media and platforms can cause information overload. News, social media, professional articles, virtual events and webinars come streaming in and popping up on screen, thanks to the power of data analytics and artificial intelligence.

With the push of relevant information online, they can also be my source of distractions, enticing me to read them. If I am not disciplined and practise discernment and prioritisation, this may result in time-consuming distractions despite their relevance.

Nevertheless, overall “DIGITAL AND TECH JOURNEY” has enabled me to work better despite some downsides.

Ensure that Digital and Tech is our powerful servant instead of a bad master. Control them instead of letting them run our lives.

May we capitalise on Digital and Tech to grow both our people and business.

Categories
Digi Tech

6Cs to Success on Instagram: Are you game?

Written by Anjuli Gopalakrishna on Digilah (Tech Thought Leadership)

Instagram started as a photo sharing app in 2010 and has made its way in the past 12 years into an app that offers multiple content formats: Instagram Stories, Lives, long form videos, Reels, Interaction features and much more. The people who use Instagram daily have grown to around 2 billion in numbers. And 500+ million people use Instagram Stories daily. More than 200+ million businesses are on Instagram. A diversified user base makes it an ideal platform for your brand or business to reach out to your target audience and influence them.

So how exactly can you build your tribe on Instagram and get them to know, like and trust you and eventually to buy from you?

I poured over many successful Instagram accounts, went through 100s of YouTube videos from the internet gurus, tried all the black hat hacks touted out there on the Instagram to grow your following. I studied the exact system the ace Instagrammers followed to try and understand what really works on this platform.

After months of deep dive, I cracked the code and came up with my own 6 C framework to success on this amazing platform. This is a step-by-step framework that will enable you to attract your dream audience, grow your genuine following and influence on Instagram and convert them into paying customers without the overwhelm and anxiety or the need to be glued to mobile phone 24/7. Read on if you want o learn more.

The first C: Clarity

This is the fundamental step. You need to know you ‘why’ to be on Instagram before ‘what’ and ‘how’ to be successful. Why do you need to be on Instagram? Who do you want to serve? What problem can you solve for them? What reasons can you give them to follow you? What’s your niche? Who is your ideal customer avatar?  What keeps them up at night? These deep and fundamental questions are essential to answer to build the strategic foundation for your Instagram success.

From optimizing your Instagram bio / profile to planning your feed content and story highlights, this clarity will pave the way for building blocks of your content messaging and formats.

The 2nd C: Content

Out of the clarity of purpose flows the best content that resonates with your target audience.  There are possibly only three reasons that people consume content on any platform. It educates, it entertains, or it inspires.  Your job is to figure out what might be of use to your target audience. Remember everybody wants to listen to the ‘WIIFM” radio (What’s in it for me). Place your focus on what they need and serve them with that content that fulfills that need. And given the digital world we live in today, it is easy to figure out what your target audience needs, if you care to listen. A simple Google Suggest can be used to glean into the minds of your people. Keyword planner tool, Answer the Public or many such tools are available for you to do your content research and create your content plan.

The 3rd C: Consistency

To build the ‘KLT” factor or the ‘know, like and trust’ factor with your tribe, you need to show up for them consistently. There is no other way to build a community around your brand or business. Mere exposure effect will ensure that you stay top of the mind of your tribe. I see many businesses lose heart when they don’t see instant results from their content lose their motivation to post and share useful content consistently. The steam dies off. But here’s the point you are missing. It is those who may not have interacted with your content, but the silent lurkers who simply watch and consume your content without giving out any signals that end up becoming your customers when their time of need arrives. So don’t be disheartened and be guided by vanity metrics of ‘likes’ and ‘follows’, instead focus on consistently providing value to your tribe and sure enough they will convert.

A strategy of content pillars and category-based system works best to make the job of consistent content pipeline flowing. Think of 10-12 categories that you can place your content in, catering to different needs at different stages of your target audience in their buying journey. There are many content-scheduling tools available out there that can help you to stay consistent with your content. My favorite is Social Bee.io which enables you to manage and automate your content posting for all your profiles in one place and is super value for money for the paid version.

The 4th C: Community

When you start showing up consistently with value adding content, you are bound to start attracting your tribe to your Instagram profile and slowly building a community.  One thing to remember when building your community is that social media platforms are meant for being ‘social’. It is not a place where you just sell or talk about yourself all the time. That would be such a big put off. Instead engage with others, leave genuine comments on other’s content, join the conversations, leave meaningful value adding bits to the conversations and the community will reward you with engagement. Instagram has so many features for you to build a high engagement with your tribe through stickers like polls, ask me a question, emoji slider bars in the Stories. Make use of them all to truly engage and learn from your tribe.

The 5th C: Connection

Once you have active engaged community on your Instagram profile, it is time for you to build deeper connections with your people. Take the effort to connect with them through conversations in the DMs. Instagram Stories allows you to directly start conversations with your story engagers in the DMs. Again, remember to keep the conversation flow natural. Be interested in them and try to understand their needs first before rushing to pitch your product or service or making a sales offer. Just talk to them. Warm them up, nurture them by offering a freebie or something of value so that you can take the conversation to the next level through other channels such as email or even DMs.

It is a slow process. Like dating. You don’t ask the person to marry you on the first date. It takes time and effort to get to know each other, build trust, before you can go for the big ask, the proposal to marry. Take it slow and easy and keep the conversation flow natural.

There are many innovative features available in Instagram DMs to take advantage of. Voice notes, video messages, video calls, saved replies, gifs and even automation for you to engage with your tribe in Instagram DMs. Sky is the limit if you can make use of all the features with your imagination and creativity.

The 6th C: Conversion

Converting your prospects into paying customers is the final and the most rewarding steps in the framework literally speaking. Afterall, you want all your efforts to finally end up making some money for you. This is the step you need to be well prepared for with a well set up sales conversion funnel that makes it easy and friction free for your warm leads to convert and make the purchase. Your landing pages for your products and services must be able to act as your salesperson to answer all their questions or objections. Be ready with your offers and bonuses to get them to open their wallets and credit cards for you.

Now there you have it! The 6 Cs to Success Step by Step framework for you to follow on Instagram. I would like to invite you to join my free online course Instagram Influence Foundations at this link. Once you are happy with my style of teaching and are ready to take your Instagram strategy to the next level, you can take a deep dive with the deep dive online course Instagram Influence Mastery 2022 and beyond with 60+ video lessons. You can take this course anytime anywhere at your own pace. Once you buy it, you get a lifetime access, and all the updated content comes to you for free.

That’s true, we need to keep adding content as the Instagram platform keeps changing and evolving. 

Categories
Digi Tech

Who Wants To Be a (Digital) Millionaire?

Written by Wendy Scott on Digilah (Tech Thought Leadership)

I do.

If you recognize the reference to the Frank Sinatra/Celeste Holm song from the 1956 film, High Society, you are probably a Boomer like me. So what business does a fifty-nine-year-old have wanting to be a digital anything, let alone a digital millionaire?

I didn’t grow up with tech. We didn’t even have a landline at home. I took my ‘O’ Levels in 1978, which was the first year in the UK we were allowed to take calculators into exams. I struggle with tech, and I say ‘interweb’ to annoy the kids.

But what I do have is at least forty years of leadership and learning & development knowledge that I can share online. And technology has made it possible for me to make money doing that.

What the heck is a digital millionaire?

Otherwise known as a digital entrepreneur or content creator, it’s someone who sells digital products online such as templates, books, or courses. It’s also possible to sell membership newsletters, coaching, and exclusive coaching groups called masterminds.

How it all works

I’ve spent the last eighteen months reading, doing courses, and attending webinars to find out how to be a content creator, and as far as I can tell, this is what digital millionaires do:

Step One – Create online content – whether you create a blog, an Instagram post, a podcast, or articles, put free content online.

I write articles on Medium, a writing platform anyone can post on. When people read an article, the author gets a small amount of the reader’s membership fee.

Medium writers share articles on FB, Instagram, LinkedIn, Twitter, Quora, and Pinterest.

Step Two – Collect email addresses – Followers on Instagram or other social media are useful, but you’d have to start again if the platform disappears. The trick is to collect the email addresses of people that like your work. The list can’t disappear overnight, and you use the list to send newsletters and sell your products.

I’ve just started an email newsletter that goes out weekly and contains free links to my training, leadership and dating articles.

It’s said that successful online creators make one dollar a month income from each email subscriber.

I’m using convertkit for my list; They provide helpful resources, such as an online creator community, online tutorials, and live zoom tutorials.

Step Three – Give free content to your email list – Email your list once a week and give them valuable content for free. Content could be an article in the body of the email, sources you have found helpful, book recommendations, templates, short email courses, short video courses, or access to an exclusive podcast episode.

Step Four – Sell your content via your email list – You can sell templates, ebooks, and courses. I’ve seen online courses from $29 US to $3000 US, and some big earners sell masterminds for $10,000 US per year.

Currently, I’m writing an ebook and a course which will be my first digital products.

I use Atticus for my book, Teachable to create my course, and Canva to create the slides and workbooks.

Next tech on the list

A subscription to Later to automatically schedule my posts on social media.

I also use a writing assistant called Jasper.ai and a note-taking tool called RoamResearch.

How I’m finding all the tech

I believe in a growth mindset, so after the screaming, tears, and tech-induced lie-downs with a nice cup of tea, I persevere. Google is my friend. I’m learning very slowly, but each gain I make is a small step forward.

The upside is that I’m enjoying myself while learning about a whole new world. The downside is that none of my friends can understand what I’m talking about and think I’m getting mixed up in an online pyramid scheme scam.

Am I a Digital Millionaire yet?

No. I’ve made a loss with the subscriptions to tech and courses I’ve taken. But I’m having fun, learning heaps, and keeping current with new tech.

And you never know, this time next year I could be a millionaire…

Digital Millionaires I follow: Denise Duffield-Thomas, Jeff Walker, Amy Porterfield, Marie Forleo, and Dr. Benjamin Hardy.

Movers and Shakers on Medium: Tim Denning, Zulie Rane, Ayodeji Awosika, Tom Kueglar, Sean Kearnan, Nicolas Cole, Sinem Gunel.

Categories
Decision Making Tech

Better than Before: Making sense of data in an age of information overload

Written by Ira Gilani Lal  on Digilah (Tech Thought Leadership)

In a 2016 Harvard Business Review article, Scott Anthony shared some insights from a study on S&P 500 companies:

  • 61-year tenure for average firm in 1958 narrowed to 25 years in 1980 – to 18 years in 2012
  • At current churn rate, 75% of the S&P 500 companies will be replaced by 2027

Business leaders commonly refer to the military acronym VUCA (Volatility, Uncertainty, Complexity, Ambiguity) to describe the world today. The external environment is changing at a rapid pace and companies cannot afford to be caught off guard. How can companies continue to thrive, in this ever-changing external environment? While there are several challenges, and there are also plenty of opportunities. Deep-rooted assumptions hold us back from unlocking this hidden potential.

Today’s information and digital systems are capable of providing a huge amount of data at the click of a button. Most organizations measure a large number of metrics for each business unit, division, department, employee level etc. The underlying assumption is that the more we measure, better we are! Most senior executives are quite familiar with their local measurements (e.g. tons, units produced, order book, number of subscribers etc.) but are ignorant of the overall financial measurements. 

Everyone in the company should understand financials; it is not just for Accounts or Finance function. In most organizations, the top management team does not have a good understanding of Free Cash Flow. In his book, Conspiracy of Fools, Kurt Eichenwald writes that in 2001, just a month before the collapse of Enron, its chairman Kenneth Lay, CEO Jeffery Skilling, and CFO Andrew Fastow did not know that Enron would run out of cash in a matter of weeks!

Dr. Eli Goldratt, author of the best-selling book The Goal, repeatedly emphasized that “Measurements Drive Behavior!”. The purpose of measurements is to take decisions for corrective actions. At the organization level, a few simple parameters are good enough. Timely data and corrective actions can help individuals to connect the dots and see the big picture.

Most companies review performance monthly. This leads to a significant time lag in getting key data or MIS. We recommend a weekly review mechanism with focus on 3-5 key metrics. The objective of the review is only to take decisions for corrective action. The weekly report should be simple and accurate, leaving no room for analysis paralysis, and facilitating effective decision-making.

Increasing digitization of data across the organization has been a key enabler for running the weekly reviews successfully. Companies that have adapted this methodology, provide a very high degree of focus on getting the reports right first time, as soon as the week ends. Many companies have integrated their digital systems (based on ERP such as SAP, Oracle, Tally, Zoho) and provide simple excel based reports and dashboards which can be accessed across devices such as mobile phones or tablets.

During the last two years of the pandemic, there have been lot of uncertainties in supply chain. Moving to a digitally enabled model has allowed these companies to be extremely nimble and agile in their decision making. Several companies have pivoted their business model quickly in order to capitalize on the emerging opportunities in the market. These decisions have been backed by analysis of marketing trends using simple AI and ML based algorithms, dynamic decision making matrix and partnerships across the digital ecosystem.

Technology acceleration has also helped some companies to take specific actions to address business challenges posed by the pandemic. For e.g. to deal with the disruption in logistics, companies have invested in GPS based end to end tracking systems. In manufacturing businesses, use of IOT based sensors has picked up significantly to collect data, and share timely alerts for predictive maintenance.

At Goldratt India, we have been working with Indian companies for over 23 years to help them increase their sales, profit and cash flow by an order of magnitude. Weekly reviews have been the cornerstone of all our engagements. Companies have been able to achieve quantum improvement in performance, just by changing a few metrics and review processes. Some of our learnings are  encapsulated below:

  1. Measure performance weekly instead of monthly
  2. Don’t get stuck in analysis paralysis, focus on corrective actions only
  3. Instead of chasing benchmarks or budgets, always strive to “Better than Before” with respect to own past performance
  4. Monitor plan vs. actual every week: The more our planning improves, the gap between plan vs. actual reduces
  5. Better than Before: Each week, strive to improve upon past 13 week moving average, irrespective of the external environment

Our client JSPL has been practicing these principles for over 5 years and is well on its way to becoming a debt free company. The company has reduced debt by over Rs 25000 crores in the last 4 years.

Short video from the case study presented at TOCICO international conference in USA:

In conversation with Mr. Naveen Jindal, Chairman, JSPL

Categories
Security Tech

RIP Access Cards

Written by Jagat Parikh on Digilah (Tech Thought Leadership)

Remember when you used to swipe your access card through the electromagnetic reader at the office door?

That norm will soon be done away with.

In the contemporary context, the world of access control and visitor management systems will be run by mobile-based credentials.

Instead of on a card, the visitors who come in will have their identity information on their smartphones, smartwatches, and other devices. This will be authenticated by the workplace’s physical access control system—be it a turnstile or digitally-lockable door—before allowing them access inside the premises.

In 2017, Gartner had reported that 1 in 5 companies would use smartphones as vehicles for identity management and access control by 2020.[1] That number will only be set to increase as social distancing concepts gather momentum, and the need for contactless protocols rises.

[1] Gartner Says That 20 Percent of Organizations Will Use Smartphones in Place of Traditional Physical Access Cards By 2020, Rob van der Meulen.

Access cards, while still handy, have several drawbacks which mobile access credential systems solve.

1. Reduced Costs 

The cost of material, micro-wire, and printing for each card can dent a company’s revenue. Some companies in the U.S. pay as high as $15-25.

In the event that a company adopts mobile-access credentials, this whole cost process is eliminated. Due to the easy availability of smartphones in the world today, your employees will already have the bare bones of the protocol. Should identification be needed, there are several protocols available to a smartphone due to its versatility: QR code, One Time Passwords (OTPs), face recognition, and other biometrics.

2. Time Needed to Implement

When a new employee or maintenance staff is recruited, the process from production to obtaining their card can take 5-7 days! Employee codes have to be known, the data has to be entered into the card, and the material needs to be bought and paid for.


When you use mobile credentials, this process is whittled down to a 3-minute process. The analogy is the process of onboarding an employee into your company: you send them a company laptop with usernames and passwords. Similarly, you only need to send them an email with the directions to download a company app that has their access credentials ready for smartphone usage whenever they make a trip into the office. 

3. Contactless Process

Access cards often required the visitor to swipe through a card reader or place it face down on a different type of card reader. This process involved contact with surfaces. While this is not a major plot point in the prevention of fatal danger, it can be salient to health standards. 

With a smartphone, on the other hand, you do not always need to make contact with a surface. There are a variety of technologies out there that allow remote and contactless entry.

One such example is near field communication (NFC), which has already been used in access control, due to its ability to operate on low frequency, proximity and provide selective access. NFC devices can also record the access information, time of access, how long the access is granted and other security metrics. This information can be helpful to security professionals and HR managers alike. Other technologies like Bluetooth and Bluetooth Low Energy can also be implemented to arrange a secure and safe protocol through personal area networks (PAN).

4. Complete User Experience

Physical access control systems are often closed systems and have an inability to integrate with other IT infrastructure. But with greater availability of mobile and cloud technologies, the user experience is now superior. Employees and visitors can be notified of any workplace emergencies on their smartphones through the integrated visitor management app. Credentials and other identity information that need to be updated (such as promoted designation, higher clearance, etc.) can be easily undertaken on a mobile phone, which avoids the lengthy process of creating a new card with new credentials.

Mobile phones are also just more valuable to people and are less likely to be lost than a card!

In the world of visitor management systems (VMS) and identity and access management (IAM), it is becoming clearer and clearer that mobile-based credentials have too many advantages to not dominate the future. Smartphones, due to their quality, are conducive to several multi-factor authentication parameters which can only people to feel secure, safe, and efficient over time.

The views in this article are Jagat’s personal and not endorsed by any organization.

 



Categories
Fin Tech

Transformation of the Indian Debt Market

Written by Sashi Kumar M C, Investment and Merchant Banker – Digilah (Thought Leadership)

Director at Solargise

The Balance of payment crisis in 1991, brought the liberalization of the Indian economy and with it came reforms of the financial system and capital markets. The thrust of these reforms was to promote a diversified, efficient, and competitive financial system, with the objective of improving the allocation of resources through operational flexibility, improved financial viability, and institutional strengthening.

The contagion effects of the 1997-98 Asian financial crisis further lent impetus to strengthen the domestic financial system. Reforms principally focused to: (i) Mitigate risks in the financial system; (ii) Efficiently allocate resources to the real sector; (iii) Make the financial system competitive globally; and (iv) Open the external sector.

India’s capital markets too were injected with reforms, specifically through the creation of various institutions such as the Securities and Exchange Board of India (SEBI) in 1992, an insurance market regulator (IRDAI) in 1999, and a pension market regulator (PFRDA) in 2003. National Stock Exchange NSE was incorporated in 1992. It was recognised as a stock exchange by SEBI in April 1993 and commenced operations in 1994 with the launch of the wholesale debt market.

These were a fall out of the report by L M Bhole, a professor of Economics at IIT-Bombay, who noted that “There are two major inadequacies which characterize our stock market. First, while the primary market is widespread, i.e., the new issues are distributed nation-wide, the secondary market is narrow, localized, fragmented, and imperfect. The stock exchanges do not have uniform settlement periods and dates; there is no national clearing system, and they are not integrated into a single unified national market system. Second, while a significant part of the primary market is in debentures, almost the whole of secondary market is in equities. In many developed countries, debt securities, especially long-term debt securities, account for a major part of the trading volume on stock exchanges.

Not just that, Indian bond markets had to fight its way into the very quagmire of corruption and kickbacks, Lack of Transparency plagued the market, as did in-efficient price discovery methods. Defaulted Bond holders raised fingers on credit rating agencies and they in turn raised questions on data sanity. One to one negotiations led to unethical means to place the bonds at unjustified premiums that led to a mismatch to traded market yields.

In contrast to equity markets, the bond markets have been held back by the more restrictive regulatory framework. Several reforms were introduced to the government bond market in 1992 when the price of newly introduced bonds was set by auction.

But it was not until 2005—11 years after the equity market—that bond market became an electronic order limit market. Adoption of Technology to achieve the set goals.

Over the past two decades, the Reserve Bank of India has adopted a strategy to create an efficient market infrastructure to enable safe trading, clearing and settlement. State-of-the-art primary issuance process with electronic bidding and straight-through-processing (STP) capabilities. An efficient and completely dematerialized depository system within the central bank. Delivery-versus-Payment (DVP) mode of settlement. Real Time Gross Settlement (RTGS). Electronic trading platform (Negotiated Dealing Systems – Order Matching) (NDS-OM) and a separate Central Counter Party (CCP) in the Clearing Corporation of India Ltd (CCIL) for guaranteed settlement.

Today, The Bond market activity has grown rapidly. Government securities market (G-Sec), corporate bond market and derivatives markets have become broad-based in terms of participation. Technology has given the ease and access to transact from anywhere, it has helped broad base not only investors but also products. Thus, driving the overall debt market size to a little over USD 2 Tn.

Government Bonds make majority of the market with sovereign yield curve spanning up to 40 years. Corporate Bonds are expected to double their growth to achieve Rs. 65-70 Lakh crore by 2025. Primary market issuances have increased resulting in large benchmark issuances. The volumes in secondary market have increased. The bid-ask spread of on-the-run securities continues to be low and so are the impact costs.  

With the increase in Fintech activities in this space, bond markets have spread their wings to reach all investors. So much so, that RBI now allows individuals under the Retail Direct Scheme, to buy Government Securities, SDLs, T-bills and Sovereign Gold Bonds.

Amidst all these positives brought about by the adoption of technology and digitalization, the regulators forget a key component – Human Resource.  Since 1992, a generation of Bond Market professionals have served a full cycle and retired.  A huge set of Bond traders and dealers, both in the primary and secondary market today face a different future……?

Categories
Digi Tech

Digi Tech

Leveraging Instagram for Your Small Business

Written By Shoni Duesling – Digilah (Thought Leadership)

Life Coach at https://www.instagram.com/twelveinchesaway/

With 1.3 billion users, Instagram is the second most popular social media platform behind Facebook, making it one of the most effective tools to help small businesses grow their brand. While its high number of users means that small businesses can reach more people, Instagram’s visual nature offers a great potential for building strong brand identity and brand loyalty.

How to leverage Instagram

So, how can you leverage Instagram for your small business?

Capitalise on the Visual

Potential clients will form an opinion on your business after just one look at your Instagram feed. That is why it is vital to communicate your brand identity as clearly as possible. To do this, you first need to get clear on your branding. Choosing a look and feel you want to communicate is the first step, after which you can choose a cohesive design consisting of your colour scheme, fonts, icons and/or images that align with your look and feel. Once you have done this, start posting! You can post tips, quotes, diagrams, photos, videos, basically any content that communicates clear and important messages to your community. A great way to build brand loyalty is by letting people know who is behind the brand; so, post photos or videos of you and your team. You can also use Instagram Stories (posts that disappear after 24 hours) to share announcements, tips, or behind-the-scenes snippets of what is happening in your business. Regardless of your strategy, create a cohesive look for your brand and capitalise on the visual.

Engage With Your Community

The more you engage with your community, the better. Engagement increases brand loyalty and it allows you to open up a two-way conversation so that you can better understand and serve your community. One means of engagement is to include a call to action in your feed posts. A call to action could be asking people to click the link in your bio, asking a question they can answer in the comments, or asking them to like, share or save the post. Another way to engage is to greet new followers. Take a moment to message each new follower. You are building a business, but you are also building a community with other human beings – take advantage of the opportunity to connect with them. Yet another way to engage is through the built-in engagement tools in Instagram stories. You can create polls, quizzes, or ask questions. Once you have posted a story, save it as a highlight so that it will permanently show on your feed for old and new visitors alike. Engaging with your community is one of the most enjoyable and beneficial things you can do for your small business.

Collaborate!

Reach more people with your business by collaborating with Instagram’s IG Live feature. This feature allows you to live stream for up to 4 hours either on your own or with other businesses, past clients, or whoever would be relevant to your community. One benefit of IG Live collaborations is that you get to engage with your community in real-time as they type in questions or answers to your questions. A second benefit is that you and the person you are collaborating with can share your expertise on your products and/or services in depth. Third, your sharing can build brand loyalty, as your community gets to know you and the person you are collaborating with through a longer video. Lastly, both you and the person you are collaborating with will likely gain new followers from each other’s communities.

At the end of the IG Live, you can share it in your stories and tag the person you collaborated with and (if you are the one who hosted the video) you can save it to your page for future viewers. So, think of one person you could collaborate with and reach out to them.

Over to You

So now it is over to you. Instagram is one of the best platforms to use for your small business. Through capitalising on the visual, engaging with your community, and collaborating with others, you will be on your way to establishing a clear brand and creating a community who will support your growing business for years to come.