DO CUSTOMERS REALLY WANT TO BE WOWED?

Whata��s the best customer service story you know? Every company seems to have that one story where their customer service department went above and beyond to create a legendary customer experience. These experiences often lead to glowing letters of appreciation from the customer which are framed and hung on the wall in the break room. The story gets told at every annual meeting and is written about in the training manual.

A Google search for a�?outstanding customer service examplesa�? yields weeks worth of reading.

And yet in structuring our prospecta��s customer journey, should we really strive to go the extra mile and provide an amazing a�?wow factora�? experience? Or should we focus more on creating a seamless experience across the board that meets our customera��s expectations?

In 2013, Matthew Dixon, Nick Toman, and Rick DeLisi wrote a book answering these questions calledA�The Effortless Experience: Conquering the New Battleground for Customer Loyalty.

Instead of merely positing their theories, the authors surveyed 97,000 customers across several industries who recently had customer experiences. They had access to customer interactions from over 400 companies. What they discovered in their research makes perfect sense to us.

Have you heard the story of Joshie the Giraffe? The authors tell us about a family that was vacationing on Amelia Island, Florida at the Ritz-Carlton. Upon leaving, their young son left behind his precious stuffed giraffe and was beside himself. The parents called the hotel and found out that the housekeeping staff had found Joshie. To console their son, they told him his giraffe was on an a�?extended vacationa��.

Instead of just mailing the stuffed animal to the family, the hotel staff put together a photo album full of pictures of Joshie relaxing by the pool, getting a massage, and going out for 18 holes of golf. They sent the giraffe to the family along with the photo album and a bunch of branded merchandise. Thata��s a heartwarming story, right? It also created a great deal ofA�free pressA�for Ritz-Carlton.

While a particular delightful customer experience may go viral and result in free marketing like Joshie the giraffe did, overall, research paints an interesting perspective that many companies have probably not considered.

Not every family is going to leave behind a stuffed animal. So how does a company replicate that experience? More importantly, does it need to?

The 3 core metrics that are measured in the aforementioned study are:

Repurchase a��A�customers continue to buy from your company.

Share of Wallet a��A�customers buy more from you over time.

Advocacy a��A�customers say good things about your company to friends, family and even strangers.

Those 3 components not only provide a perfect snapshot of the essence of customer loyalty, but they are also measurable.

Most companies believe that customer satisfaction leads to customer loyalty. With that notion in mind, they put a lot of resources into exceeding customer expectations. Using over a million data points from the surveys that the authors conducted, and using the 3 core metrics above to measure customer loyalty, they found that there isA�a�?virtually no difference at all between the loyalty from those customers whose expectations were met and the loyalty of those customers whose expectations are exceeded and those whose expectations are simply met.a�?

Thata��s quite a concept to unpack. As it turns out, todaya��s customer really just wants their issues resolved in the quickest and most effortless manner possible. Not only does exceeding customer expectations have little to no effect on loyalty, it also takes time, money and other resources. Wouldna��t it be better to use those resources to create an effortless and consistent customer journey?

Of the senior leaders interviewed by the authors, about 80% of them reported that a strategy of exceeding customer expectations led to significantly higher operational costs.

The fact is, in our attempts to delight customers, we may actually be fosteringA�disloyalty.A�How can that be? According to the numbers compiled by this survey, any customer interaction is four times more likely to create disloyalty than to drive loyalty. The reason behind this lies within a tenet that we all know to be true: a customer with a bad experience is more likely to create more negative word of mouth (65%) compared to the amount of positive word of mouth a customer with a good experience will create (25%).

If a customer interaction (after the initial sale) is to occur, ita��s almost always because there is a problem. If we put ourselves in our customera��s shoes, wouldna��t we want the most effortless and seamless solution to be provided to us? When properly executed, an effortless experience can make the customer forget that they even needed to reach out for help.

Instead of trying to create a one-time delightful experience, the numbers show that it is much more impactful for a company to focus their resources on consistency and effortlessness for their customers.

Learn more about SaleMove.

NYCa��s Entrepreneurs Roundtable Accelerator Announces Participants for its Summer 2017 Program; Eleven Companies Receive $100,000 Investments

 

New Yorka��June 12, 2017a��Entrepreneurs Roundtable Accelerator (ERA) today announced that it has selected 11 startups for its Summer 2017 class, which begins today. The companies chosen to participate in the four-month program are innovating in a variety of significant industries, all with businesses primed to grow in New York City.

This is the Acceleratora��s 13th program. ERAa��s initial investment in participant companies is $100,000.

Basepair is a SaaS platform for genomic data analysis that lets researchers quickly analyze raw data. Our cloud-based software significantly reduces turnaround time for scientists from weeks to hours without sacrificing quality.

Bonbouton is a technology platform for preventative diabetic health care.A� Our first product, a smart insole with a proprietary embedded graphene sensing system, passively monitors the skina��s physiological signals in order to detect early signs of foot ulcers.A� This simplifies patient self-monitoring and reduces the frequency of doctor visits.

Convessa is an AI platform that powers connected, voice-controlled products. Our software lets organizations build virtual assistants to engage their customers in intelligent two-way conversations. We help companies get to market quickly by handling all the complexities of building and maintaining personalized and contextual conversational experiences.

Everywear is a personalized recommendation service for retailers and brands that uses machine learning to expertly guide the customer shopping experience. Our platform establishes direct conversations with shoppers through automated product and styling recommendations online and in-store, as well as personalized retargeting and content marketing solutions.

Immersive Systems is a software company changing the way we explore, experience, and share stories and data. Our ImmerseOS platform delivers spatial applications for mobile, multi-screen environments, and AR/VR. HOOPS!, our first ImmerseOS app, offers a new mobile sports experience with a seamless combination of innovative interactive stats visualizations, multimedia, and social interaction.

KidzToPros is a service provider and marketplace for after school enrichment programs, camps and structured recess. Parents use our trusted network to find the right enrichment for their kids; schools utilize our platform to offer structured enrichment during school hours.

MobilePhire is a cloud-based platform for managing internet usage of cellular-connected assets. Our software is directly integrated with wireless carrier networks, enabling us to provide our customers with real-time visibility and control of their cellular data usage.

Molo is a SaaS platform for the boating industry. We transform the way marinas, yacht clubs, and shipyards operate, by managing customers, vessels, reservations, service, slip availability, accounting integration, and payment processing. Our technology helps marine businesses increase their revenue, decrease administrative burden, and better engage with their customers.

PCB:NG is a software and automation powered manufacturing service for custom assembled electronics. Our turnkey system takes the pain out of the ordering process, making it a simple e-commerce transaction. Our software driven manufacturing technology combines with our visual ordering system for error-free results and a 75% labor reduction over the industry average.

ProTrakr is a cloud-based software platform for the construction industry that provides daily job-site reporting. We send data directly from on-site to the back office, providing real-time project management insights, better cost control, revenue monitoring and change order processing.

Tire Agent is a search engine and aggregator for tires and wheels. We help people make informed buying decisions with our a�?Ask The Experta�� tool that guides customers to the right purchase. Our recommendation criteria considers location, the vehiclea��s purpose, average yearly mileage, budget, make, model, year and more.

About Entrepreneurs Roundtable Accelerator (ERA)

Based in the heart of Manhattan, Entrepreneurs Roundtable Accelerator is one of New Yorka��s leading technology accelerators and early-stage venture capital funds. It has invested in more than 140 start-ups since launching in 2011, helping to build the next generation of great New York technology companies. Its alumni companies, who come from all over the world, are already playing leading roles in the evolution of virtually every major global industry.

The War for Top Talent: Top 6 Hiring Mistakes

In the past decade, the business world has realized something that the Lakers, Yankees and Patriots have known forever: talent wins games. More than ever, a companya��s ability to attract and retain top talent serves as a major factor in its long-term success or failure. In other words: the war for top talent is on.

These days, it seems that a�?Keeping up with the Jonesesa�� requires more than just the newest lawn mower a�� you also need the best people mowing the lawn.A�Competition to be the next Facebook, Snapchat, or the new a�?ita�� sneaker that supposedly doesna��t smell when you go sock-free, is more intense than ita��s ever been.A�At the end of the day, the leaders in every industry know that Talent is the Key to Winning.

Jacqueline here a�� co-founder of Scouted, an entry-level job matching platform that helps companies screen and sort candidates using data science and predictive analytics.A�A�Ia��m here to talk to you about how to snap up top talent, even if you dona��t have unlimited beer and ping-pong tables.A�In my experience working with companies to hire early-career talent, I see a lot of mis-steps. Here are some of the common pitfalls I see companies repeat, week after week, preventing them from finding and closing the talent they need.

Mistake #1: Your job descriptions are extremely boring and bland.

Before you can have your pick of the litter, you need a litter to pick from a�� i.e. the right mix of quality and quantity of candidates.A�I could write five articles on methods for effective sourcing and how to diversify your talent pool (shameless plug, Scouted can help you here!), but for now leta��s focus on that first barrier a�� getting candidates interested in your specific open role(s). If your company is not well known on the map, this is an especially critical first step.A�Maybe the Googles of the world can get away with a job description so dull you wouldna��t even want your worst frenemy to work there, but for the rest of you: listen up.

Wea��re not advocating that you embellish the responsibilities. In fact, wea��re pretty adamant about providing both a compelling AND accurate portrayal of the role. But accurate need not equal boring! Highlight not only what the person will be doing but the opportunity for growth potential and what makes this job exciting.A�Think about what drives you to (1) wake up every day and put on clothes without elastic waistbands and (2) spend more time with your office-mates than loved ones.A�Likely (we hope), ita��s because you genuinely enjoy what you are doing, your work feels purposeful and you can see the impact that your work has on the company. These are the type of things you need to highlight to potential candidates.A�Dona��t be afraid to say that this job requires a�?the type of person who never leaves a a�?ta�� uncrosseda�?, or whose a�?idea of a good time is spending 5 hours on a stifling airboat in the Everglades at a networking eventa�? (true story: I did that recently). But also highlight the personal growth and exposure to senior management that comes along with the less-sexy parts.

Mistake #2: Youa��re selecting candidates based on qualifications that simply dona��t matter.

Leta��s assume you have a strong and deep pool of candidates. The next challenge is to identify who is worth your valuable time to interview.A�Despite societya��s great tech strides in the past century a�� we now have more computing power in our hands than NASA had in an entire building when it sent people to the moon a�� the format and function of The Resume hasna��t changed since, well, it was invented.A�While video interviews have started to make their mark, most interview decisions are based on a 30-second review of someonea��s life history packed on 8.5 x 11 piece of paper.

To make things worse: many hiring managers focus on the obvious and easy things a�� school, GPA, experience a�� and assume that just because someone does well in school, they will be a good fit for their company and role.A�Did Joe do well in school because hea��s smart, because he cared or because hea��s incredibly disciplined? Did Lisa have a low gpa because she working two jobs while taking a full course-load, or because shea��s lazy, or because the material went over her head?

Therea��s a pitfall in searching for particular work experience too. If you care about marketing experience, ask yourself why. Are you looking for someone who has the creativity to come up with content? The analytical skills to review the data and iterate strategy accordingly? If thata��s the case, then somebody organizing a fundraiser for cancer or increasing membership at their frat/sorority might possess those same capabilities.A�Be open-minded and you will have a much higher chance of finding someone with the capabilities to learn how to do the job and, hopefully, grow out of it.A�Said otherwise, when hiring inexperienced talent, you are essentially a�?buying potential.a�� Measure based on their potential to learn and grow, rather than the tangible experiences theya��ve racked up in college.

Mistake #3: Your hiring process is slower than molasses.

I cana��t stress this enough a�� SPEED is your greatest asset to closing the talent you want.A�Recruiting is a lot like dating. If you like someone, you cana��t just wait around for weeks to ask him out.A�Call him! Now!

Hiring works the same way: if you think a candidate is great, ita��s likely another company will too. You need to get yourself in the mix, and you need to do it promptly.A�Review resumes quickly a�� if a candidate is sitting in your queue for more than 1 week without any contact, they will likely assume you have implicitly turned them down.A�Once you reach outA�to set up an interview, ensure ita��s scheduled as quickly as possible a�� a first interview /phone screen should ideally be scheduled within 1 week of contact.

After the first conversation, you might hit constraints outside of your control a�� your company might have a lot of internal red-tape preventing an expedited process.A�If this is the case, be sure to set expectations up front. Let the candidate know the potential next steps and associated timeline. This way they can plan, inform you if they have constraints and they wona��t end up feeling like theya��ve been left in limbo. Oh, and if you genuinely do like a candidate a�� make sure they know it!A�If your internal process is slow, make sure to be in constant contact with your candidates to a�?keep them warma�� so they stay excited and engaged.A�Rule of thumb: dona��t go more than one week without being in touch to keep them in the loop.

Mistake #4: You go radio silent a.k.a a�?ghostinga�?

Ia��m staying on my dating analogy here, so I hope you like it. Dona��t string candidates along and dona��t keep them wondering.A�The next best thing to a yes is a a�?quick noa��.A�A�If you know someone is not going to work out, tell them.A�Phone calls are best, but email works too.A�Ita��s a small world out there and you never know where this person might end up working and if your paths might cross again, so maintaining good relationships is crucial. If you want to be a true A-Player, give the candidate feedback as to why they were turned down. I mean, how can people improve if they dona��t know where they fell short, to begin with? Everyone deserves a fighting shot!

Mistake #5: Youa��re a perfectionist whoa��s looking for a purple unicorn.

No one is perfect.A�You are not even perfect for the role you are in.A�A�At the end of the day, a hiring decision is a bet, and with traditional interview tactics, your odds are only slightly better than Vegas odds with respect to making a good hiring decision (this is a great quick read if you want to learn the few key tactics that improve your odds of hiring great people).A�So, what does that mean? Stop over-analyzing a�� with every hiring decision you are making a bet, so ita��s all about weighing probabilities and trying to be more likely right than not.

A potentially helpful matrix: weigh risk against potential. If someone comes out as low risk and high potential, then thata��s a no brainer and hire away! If someone is high risk but high potential, well those are your vol-bets and if you can afford to take the leap, go for it a�� because those are the type of people who can shape your company in ways you cana��t imagine (or they can flame out).A�Low risk, but low potential? Dona��t waste your time.

Mistake #6: You forget the need to sell.

Did I mention recruiting is like dating? The hiring process is like courting a woman/fella a�� from the first email to the last, you need to remember to sell your company and its opportunities. Yes, ita��s important that you do a thorough assessment to understand whether you want the person sitting across from you to join your tight-knit work crew, but ita��s a two-way street.A�This process requires a deft balance: trying to understand how someone thinks and what they value as well as share why working with you is the bomb-dot-com.A�Just dona��t forget your please and thank yous and to try and make a good impression.A�I can recount numerous cases of extremely qualified candidates dropping out of a hiring process mid-way through because the people they spoke to were rude and unpleasant.

With that in mind, be thoughtful about who you put in the hiring process and at what stages.A�Remember a�� you want your company to put their best, yet accurate, self-forward.A�Just like with your dating profile, ita��s probably best to leave those pictures of you un-showered in your PJa��s off your initial profile.

Still unsure about where to focus your efforts to snag the talent you want? Here at Scouted, wea��re only an email away and are happy to share insights, guidance and best practices galore to get you in the game.

3 simple customer service ideas that accelerated our growth

When I was still a practicing attorney, I sat down to brainstorm business ideas for the legal technology company I wanted to start. The very first thing I wrote on my legal pad was a�?customer service.a�? As ideas for the business became clearer and better developed,A�a�?customer servicea�? became retraced so much that eventually the indentions showed up on the next several pages of the pad. Every idea I had ultimately came back to customer service being the key differentiator between my company and the competition.

Today, Alt Legal is a growing company that operates in a niche community of intellectual property lawyers. If all of the IP attorneys in the United States lived in a city, it would be slightly larger than an average-sized US town. I try to think about Alt Legal as if we were a small pizzeria in that town. We would get to know our neighbors, learn their needs, and make an honest living keeping them happy.

For those unfamiliar, the norm for many legacy legaltech vendors, particularly IP docketing software companies, is to be apathetic towards their customersa�� needs and plights. They charge ridiculous a�?set upa�? fees (often exceeding $10,000). They require multi-year contracts that are nearly impossible to terminate. They provide ill-designed, difficult-to-use software and then charge extra for training and support.

We’re challenging this status quo. We dona��t lock customers into a long-term, costly contract, instead we offer great service month-over-month and have still kept our average monthly attrition rate under 1%. The conventional legal tech customer service strategy is based upon nickle-and-diming their customers to pay for every service. But that flies in the face of what actually benefits the customer and company. In that vein, we never charge for our support services: migration, training and support are completely free.

Over the years, Alt Legal has grown tremendously. We owe our growth to our automated technology and our customer servicea��a stark contrast to our competitors. To ensure that we always remain a customer-centric company, wea��ve identified three guiding principles:

  1. Treat your customers as more than just customers.A�We would be nowhere without our customers. They are literally and metaphorically our partners in building the best IP docketing software on the market. Our customers brag about our service, introduce us to their colleagues, and sometimes even invest their own money in our company. Theya��re also our advocates and friends. (Fun fact: For the second year in a row, we are offering our customers housing in our rental home during the annual International Trademark Association conference. Having a real relationship with our customers helps us better understand their needs).
  2. Invest in your customersa�� success. We dona��t believe in charging for customer support or training. When our customers need assistance, we are easily accessible via live chat support, often even at odd hours of the night and weekends. Wea��ve even FaceTimed with our customers to give them the help they needed. From creating customer reports for client meetings within minutes of their requests to migrating thousands of filings overnight, we do our best to go above and beyond. We succeed when our customers succeed.
  3. Adapt to your customers, not the other way around.A�Our customers use our software to manage as few as ten intellectual property filings and as many as 20,000+. Their practices range from solos just getting started to premier boutiques focused on just IP law. We also serve both long-established large, nationwide law firms and in-house counsel. With such a varying customer base, we dona��t do group webinars and dona��t push prepackaged content.We cater to our customersa�� needs and offer as many individualized on-demand trainings as they need.

Running a business according to these principles isna��t always cheap, and it is certainly never easy. But it has helped us grow. In less than three years, wea��ve grown from managing a handful of portfolios to adeptly handling hundreds of thousands of filings and deadlines for top law firms and brands. Putting in that extra effort isna��t easy, but it is who we are as a company. We wouldna��t have it any other way.

An Overview of Summarization

One of Agoloa��s main areas of focus is text summarization. Summarization is the process of taking a mess of unstructured information and distilling it into something consumable. Easier said than done. This formulation of the problem oversimplifies many considerations that a summarization system has to take into account. Implementing a system comes with choices, and with choices come tradeoffs.

This post lays out some of the most important choices. It also gives an overview of summarization in general. Each of the following sections discusses some of the insights we have gained and the approaches we take to tackle these problems at Agolo.

Abstractive vs. Extractive

When a human is given a corpus of text to summarize, they might rewrite the main points in their own words. This is how many professional human-generated summaries like Cliffs Notes operate. Ita��s called abstractive summarization.

Rewriting in different words requires many high-level skills that only human experts have. Simulating these skills requires coherent natural language generation, an extensive and deep knowledge of context, and adequate modeling of the readera��s mind. The state of the art is not yet up to par, so many automatic summarization systems opt for a technique called extractive summarization.

Extractive summaries are excerpts taken directly from the input documents and presented in a readable way. The summary does not contain any rephrasing of the ideas presented in the original text.

Some challenges in picking these sentences include:

Agolo falls somewhere between an extractive and abstractive summarization service. Our system starts by picking the most salient sentences as a basis for a summary, and then takes into account an extensive knowledge graph andthe discourse to provide context.

Single-document vs. Multi-document

Does the summarizer produce one summary per document, or does it distill multiple documents into a single summary?

When summarizing a single document, the summarization system can rely on a cohesive piece of text with very little repetition of facts. The author of a document would not reveal the same information more than once.

However, if the system summarizes multiple related documents, then it must ensure that the summary doesna��t contain repeated or conflicting information. The research literature sometimes formulates this as an optimization problem. An ideal multi-document summarizer maximizes the important information included in the summary while minimizing repetition.

How do you pick which documents to summarize together in the first place? In a large dataset, how do you know which documents are related and should be summarized together? Agolo solves this by clustering documents together into logical stories before summarizing them. The quality of our clusters ensure that the documents are about the same topic or event.

Indicative vs. Informative

The purpose of the summary is closely tied to its intended audience and their goals.

If the readera��s goal is to gain a cursory understanding of a new or large topic, then the summary needs to be indicative. It should give an overview of the content rather than dissect every aspect. This use case is for people like analysts or journalists who need to keep up on fast-moving news or explore unknown topics. They can choose to dive deeper into the text if they feel the need. But most of the time, the main points of a text is good enough for them.

Decision-makers, on the other hand, need detailed breakdowns of text. In this case, the summary should be informative. It should analyze in detail every topic covered in the text. The summary should almost be a replacement for the original text.

Depending on the use case, input documents, and other factors, Agoloa��s summarization system provides both indicative and informative summaries. We provide personalized summaries tailored to each clienta��s needs. Personalization at this level is based on a close relationship with our users to understand their goals and concerns.

Generic vs. Query-based vs. Domain-specific

How users consume the summaries greatly influences summarization.

A summarization system with whata��s called a generic trigger will find the most important topics in a given input text and summarize it without further guidance. For example, a system could produce a summary of the most important, real-time information about a hurricane as news articles are being published.

A generic trigger for summarization is useful in cases where the user does not yet know the contents of the text to be summarized. This is a challenging use case because it cannot rely on human intervention. The summary needs to present the most important topics, which might serendipitously provide the user with new knowledge. Identifying topics and determining which ones the author considers important are difficult challenges.

On the contrary, a query-based summary starts with a topic or question. A query-based summarization system may be given a large corpus of research papers to summarize the effects of a specific chemical compound on the environment. The system first needs to find only the papers that mention that chemical compound, identify the sections that mention its effects, and then summarize the salient points. The system needs to be able to discern the thread of each topic weaving through the text, and then provide a concise version of that discussion.

A summarizer could also use the texta��s domain. For instance, a blog post about a recipe will use different jargon than a blog post about the acquisition of a tech company. A summary meant for experts in a domain can leverage taxonomies or a knowledge graph to take advantage of jargon.

For example, a financial analyst would not need the summary to define the word a�?acquisition.a�? This sense of the word means something different than the same word in an article about a museum acquiring paintings. Taking domain into account, the summarizer can expect sentences about mergers to be related to sentences about acquisitions.

Agoloa��s summarization system is designed to handle text in a variety of domains depending on the client and features derived from the input text.

Genre and OtherA�Factors

A summarization system works best when it knows in advance what kind of text it will encounter. Leta��s call these formal properties.

The length of the input text heavily impacts the sort of approaches a summarization system can take. A typical news article can be summarized with conventional extractive summarization techniques. On the other hand, a 20-page report or a chapter of a book can only be summarized with the help of more advanced approaches like hierarchical clustering or discourse analysis.

Another consideration is the original form of the text: spoken vs. written.Spoken language is different from written language. Transcripts of spoken language are more likely to contain ungrammatical utterances with lots of repetitions.

A related consideration is the genre of the input documents. The discourse structure of an earnings call transcript is different from that of a 10-K filing. Dialog analysis is relevant to genres like chat logs, emails, and customer service phone call transcripts, which record conversations among several people. Dialog contains more topic shifts, interruptions, and anaphora than other genres.

A good summarization system can leverage genre information and other formal properties to produce useful summaries. Agoloa��s summarizer takes these factors into account at various points in the summarization process.

In Summary

Summarization is more complicated than it seems.

When a machine generates a summary, it needs to take into consideration:

Wea��ve proven with Agolo ita��s possible to fall somewhere between these hard choices to best satisfy usersa�� needs. Our clients have a wide range of use cases that span all of these considerations and more. Our summarization system is designed to be flexible and extensible to suit these needs. This is one of the most challenging aspects of summarization at Agolo.

This post is only a high-level overview of these considerations. For further reading and a more detailed typology, I recommend the following resources:

Event Experiences are the New Swag

Socks, coasters, mints, hand sanitizer, candy, usb drives, flashlights, backpacks, notebooks, pens, water bottles, tote, phone chargers, t-shirts, keychains, moleskins, phone cases, paper weights, sunglasses, bluetooth speakers, baseball hatsa��.

Those are just some of the items our CEO has collected at the 300+ conferences hea��s attended over the years.

How many socks, coasters, mints, hand sanitizers, usb drives, backpacksa�� have you collected from conferences? Do you still have them? Do you remember who gave them to you?

Can we really prove that typical conference swag impacts brand awareness and affinity? Can we really track that sale down to the tin of mints?

With over five hundred conferences under our teama��s belt, we cana��t say it does.

The NewA�Standard

Brands that are pushing past the plastic and engaging event attendees in experiences are creating lasting impressions in new ways. Tinder was thinking about an engaging experiences when they launched their Tinder VR gag at CES this year. Bumble upped their game at SXSW with the Bumble bus this year. Top brands and businesses are creating new standards for event marketing teams by utilizing experiences and engagement.

Wea��re not exactly sure what went on in the Bumble bus at SXSW but we definitely wish weA�did.

So how do brands move beyond conference swag into event experiences?

Top brands are creating digital experiences that attract potential users like Shopifya��s logo maker or accidentally creating an entire business because you had extra stock photos lying around.

In terms of inbound marketing methodology, the people utilizing these tools are top of funnel.

Conferences are the same top of funnel events for potential customers, just in the real world. That means brands need to attract customers with useful tools, resources, and content so when theya��re ready to make a purchasing decision, they have developed brand awareness and affinity.

Transitioning to event experiences over typical conference swag provides brands the opportunity to stand out, make lasting impressions, and create a new standard in event marketing. By taking the inbound methodology into the conference and event space, businesses can begin to stand out from the noise of socks, coasters, mints, hand sanitizer, candy, usb drives, flashlightsa��.

Think about Experiences

Event experiences like Tindera��s VR hoax or Bumblea��s bus can be time intensive and potentially expensive experiences, but they dona��t have to be. Here are a few ways brands can provide valuable event experiences instead of handing out traditional conference swag.

Snapchat Filters

Snapchat isna��t just for 13 year olds, in fact 38% of Snapchat users are between 25 and 54 and with the average user opening the app 18 times a day, ita��s a channel brands can utilize even more at events.

Seriouslya��This is probably one of the most underutilized mirco-moments at conferences. By creating a Snapchat geofilter that is both event and brand specific, companies can begin to capture and influence these personal moments.

Brands can use pre-made templates or hire a Snapchat artist like CyreneQ to create filters which can then be geo-targeted down to a specific building. We quickly went through the steps targeted the entire block of the Moscone Center in San Francisco for the four days of Marketing Nation Summit and the ad would cost $1,035.81. For reference, thata��s about 98.6485714 pairs of custom socks.

Yes, these snaps might disappear in Snaplandia, but the micro-moment that a user has of taking a selfie at this huge event, surrounded by thousands of peers doesna��t. Plus, they can always download the photo and post to Instagram, Facebook, and Twitter to make sure all their friends know theya��re at the event.

Going Live

With Facebook and Instagram Live, wea��re pretty certain authentic live video content is here to stay (and dominate) in 2017. Brands who can figure out ways to utilize live video in a way that excites both those actively participating and those watching are able to reach multiple audiences in one unique fell swoop.

Creating live content is all about representing your brand authentically. This means that big budgets are not required to create fun, entertaining, and unique live content opportunities. Set up a Q&A with attendees, interview a speaker or two live, or walk around the conference floor so people who couldna��t make it get to partake.

Product Giveaways

Dona��t pull a full on Oprah Winfrey when planning a product giveaway.But do look at ways to run giveaways that are engaging, memorable, and turn attendees into brand ambassadors.

Need a little inspiration? Run a raffle where the winner receives free lifetime product or access to a SaaS product. Give away free upgrades to those who sign-up at the event. Create a scavenger hunt with other companies where the winner receives an incredible grand prize.

Create experiences with your product giveaways to create lasting impressions while providing value. Product giveaways that provide real value mean more than a free t-shirt or pair of socks.

When planning for the next event or conference, transition to using inbound methodology. Attract customers by providing unique and valuable experiences that leave them wanting to learn more about your company and always remember this quote.

a�?Ia��ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.a�?a�Sa��a�SMaya Angelou

Learn more about SummitSync.

How to Decide on an Engagement Ring Budget

Deciding how much to spend when shopping for a ring is a difficult task. Wea��ve heard every recommendation imaginable: Two to three montha��s salary, as much as you can afford, as little as possible, as much as possible. We wanted to break down all these theories to help you decide which fits you best.

The Skya��s the Limit

Ita��s easy to get carried away and spend wildly on an engagement ring. After all, the bigger the diamond, the more you love her right? Wrong. Diamonds are definitely an important piece of the pie, but there is such a thing as over the top. We dona��t believe a ten carat diamond ring would look nice on everyonea��s finger. Instead, if your budget is truly limitless, focus on factors other than size. A two, three or four carat engagement ring is large enough for most girls. Aim for for higher color, clarity and cut if your budget has room.

Conclusion: If the a�?skya�? is the limit for your budget, be sure to evenly focus on style, design, cut, clarity, carat and color. The ring should wow her and show her that youa��ve made a careful decision that suits her personality.

A�Diamonds are Worthless

Working within this industry, we see the appeal and value of diamonds. Diamonds have both tangible and intangible value. They are a symbols of love, status, commitment, loyalty, affection and basically everything else associated with a life-long relationship.

While we agree that buying diamonds purely for monetary gain or investment couldA�be risky, you can generally expect that the value of your diamond will rise over time.

Conclusion: Diamonds are not worthless. They have monetary and sentimental value. They are an accepted symbol of love and commitment. Luckily A�there are beautiful options available that will brighten her world within nearly any budget range.

Petite Split Shank Halo Diamond Engagement Ring

Two to Three Monthsa�� Salary

Yes, this is a myth. Why did this become popular? Well, because it is the only suggestion that is accompanied by an actual dollar recommendation.

If you have a median level of income, carefully weigh what your average disposable income is in accordance with your lifestyle. If your lifestyle and budget do not allow you to spend two to three months salary on a ring, reassess your budget. Even within a smaller budget you can buy a gorgeous ring that she will love. You can always upgrade her ring when youa��ve saved enough at the next big milestone in your relationship.

If you decide that you can be more flexible with your disposable income, there still isna��t a hard and fast rule to determine your ring budget. As a general guide: the average diamond purchased for a proposal is H-color, SI1-clarity, and 0.90ct size. That will cost approximately $4,500. Use our on-site budgeting tool to understand just how much you should be spending.

The key is to determine which factors are most important to you (and her). If it is size, scale down on color, if it is clarity, pull down size. There absolutely needs to be a balance.

Petite Infinity Winding Diamond Engagement Ring

Conclusion: Spend what you can afford, no more, no less. You have to find that comfort zone that allows you to say you are satisfied and confident with your decision. You are buying a symbol of love, make sure you feel it!

Learn more about Four Mine.

Top Consumer Trends Accelerating Innovation in 2017

In our Modern Lifestyles Intelligence Report we highlight the meta-trends and consumer personas that shaped 2016 and will accelerate in 2017. We feature innovators that will change your viewpoint on opportunities in commerce, including notable launches, brands with meaningful momentum and Kickstarter projects still in development.

Additionally, wea��re proud to share that NRF selected Trendalytics to curate next-gen fashion tech products at the Innovative Lab where we will also present key insights from our report. What can you expect? Wea��re featuring smart wearables from Swarovski, Rebecca Minkoff, Siren, and Wisewear, all merchandised on a PERCH interactive display. A�If you want to kick off 2017 with a new look, get a Memory Makeover with a Neiman Marcus makeup artist and MemoMia��s smart mirror which will create a personalized tutorial of your session. Lastly, mass customization innovator Fame & Partners will be debuting their Wedding Atelier app and showcasing one of their made-to-order bridal gowns. Last month, I customized a Fame & Partners dress by choosing a color, skirt silhouette and the length according to how I wanted it to fall. The dress fit perfectly without any alterations and best part is that it went from design to my doorstep in three business days.

Trendalyticsa�� selections for the NRF Innovation Lab represent key retailing themes.

These innovations that differentiate companies today, will eventually become the new norm in retailing: interactive retail experiences, product personalization and speed to market. A�Dona��t be #basic.

If youa��ll be at NRF, please swing by to check out the presentation. Ia��ll also be speaking on a panel The Store Of The Future: Radical Startups Transforming Bricks-And-Mortar Retail moderated by Jeff Hoffman, founding member of Priceline. This yeara��s show has a A�great lineup with keynote speakers including Richard Branson, Terry Lundgren, Mindy Grossman and more.

Ia��m humbled to be a part of this yeara��s program in so many cool ways. 2017 is looking good.

P.S. Follow Trendalytics to get updates on reports, webinars and events.

Popwallet in the Entrepreneurs Roundtable Accelerator

Wea��re thrilled to announce that Popwallet was accepted and is participating in the 12th cohort of the Entrepreneurs Roundtable Accelerator (ERA). The application process is very competitive with ERA filtering through about 1,000 applications with multiple rounds of interviews. Wea��re honored to be part of the final 12.

ERA counts alumni companies as diverse as TripleLift, CardFlight, Seamlessdocs, and even Dog Parker, a company that provides temperature controlled dog parking that you can pay for by the minute (what a world we live in!).

As a more traditional accelerator program, participation comes with a financial investment as well as free office space throughout the duration of the program, both of which are terrific for any startup looking to control expenses while growing at the same time. Even more valuable is the program structure, designed to focus on key operational metrics that indicate if wea��re growing at the rate we should be, while introducing us to an extensive network of other entrepreneurs, investors, and business leaders from the New York tech startup community.

Though wea��re in the early stages of the program wea��re already seeing some clear benefits. For example, another company in our cohort introduced us to a digital coupon company with whom we have some really interesting opportunities to collaborate. ERA staff also introduced us to the CEO of an exciting digital gift card company thata��s a program alum and with whom wea��re going to start working. Our platform will enable their customers to save gift cards into their mobile wallet where theya��re more convenient for them to store and use. Once in their mobile wallet, they can be remarketed to in order to drive usage and ultimately the purchase of more gift cards. We also met with an experienced software designer whoa��s an ERA mentor and who spent time with us reimagining our user interface, really opening up new opportunities for us and our users. All of this has been thanks to the strong ERA community.

After a rigorous four months the program concludes with a Demo Day attended by over 700 investors from New York and the broader investment network. Talk about pressure! I cana��t wait to watch my co-founders Wes and David present while I sit in the back of the room drinking coffee and taking pictures (they dona��t know this part yet).

Herea��s a short video showing what the Demo Day is experience is like: https://youtu.be/9XTN_jjJ-R0

Though wea��ve only just started wea��re excited to see what the next several months have in store and are confident that the experience will help us continue our growth. Thank you ERA for this wonderful opportunity!

Biometric Theft is a Big Deal and Behavioral Biometrics Can Help

TL;DR Biometric theft is permanent, essentially rendering that biometric (e.g. thumbprint) useless for the lifetime of that user. Behavioral biometrics use ephemeral data, meaning theft would only be a temporary disability.

Biometric authentication provides an attractive way of authenticating users into high-risk infrastructure. Think about the Touch ID on your phone, or face and eye-scanning technology As opposed to usernames, passwords and security questions, the patterns of your thumbprint are so complex that they are almost impossible to guess, and they cana��t be stolen through fake websites, and you never have to remember them. Your thumbprint is unique to you, remains the same over your lifetime, and cana��t be stolen on the web. Or can it?

What happens when a fingerprint is stolen? Can we still count on it to uniquely identify ourselves?

In the past, hardware flaws in some phones were exploited to allow attackers to steal the fingerprint images directly from the scanner on the device. Even scarier, hackers in Germany stole the German Defense Ministera��s fingerprints using only hi-res photos taken at a press conference. Other forms of Biometrics are even worse. Due to the prevalence of social media, pictures and videos of us abound on the internet, allowing attackers to easily spoof face and voice biometrics. So what happens when a biometric is stolen? Since a thumbprint is permanent, a thumbprint that is stolen is essentially permanently rendered useless for authentication purposes: you can no longer use your thumbprint to prove you are who you say you are, ever. Ita��s not like a Credit Card number that can be replaced.

Behavioral biometrics is a new form of biometric that allows you to verify your identity with the way you behave, as opposed to some aspect of your physical body. The behavioral cues range from a swipe gesture you remember or a routine you do, but also can include passive aspects of your behavior such as your gait, typing speed, the order of the buttons you usually use as you interact with an app, the way you travel around, where you spend your time, etc. One of the biggest challenges in behavioral biometrics is what we call a�?Behavioral Drift,a�? where the usera��s behavior changes over time. For example a ski injury makes you walk differently, you change neighborhoods for a new job, or an app update means you interact differently with your phone. Behavioral drift means that the biometric must continually be updated to account for behavioral changes, potentially limiting accuracy if it is not handled correctly. Recent advances in Deep Learning make it possible to build behavioral biometrics models that can accommodate behavioral drift while maintaining accuracy, but thata��s a different topic. However the drift also has the distinct advantage making the biometric ephemeral in nature: if it ever should be stolen, the threat to you, the user, is only temporary.

While behavioral biometrics as a tool is still in ita��s infancy, the ephemeral nature of behavior itself presents huge potential for low-risk, high-accuracy user authentication. To be clear, there has never been a known instance of theft of a behavioral biometric.

Learn more about TwoSense.