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PODCASTS ARE A GROWING OPPORTUNITY FOR BUSINESS

PODCASTS

by Ben Anderson, Sound Rebel

 

Nowadays, the way in which people consume television programmes has changed dramatically, with the rise in popularity of on-demand services like Netflix, Amazon Prime and Now TV.

Until the recent warnings to stay home, the number of people listening to live radio had been dropping steadily and the same trend is expected to pick back up once the crisis has settled. Meanwhile, podcasts have become increasingly popular, with almost a quarter of 15 to 34-year-olds listening regularly, according to recent RAJAR data.

Podcasts are a set of digital audio files that are made available for people to listen to immediately or download for later use. Following a consistent and familiar format, these podcasts encourage users to subscribe, so they can engage with each instalment as soon as it comes out.

Currently, some of the biggest brands in the world are using podcasts to communicate with an engaged and captive audience, while enhancing their own brand awareness by sharing important company information.

 

Projecting your authority

Podcasts are used for a variety of purposes, whether it’s sharing information about new products, company updates or general industry-related insights. Some podcasts may only be suitable for the ears of employees due to the nature of the content.

Incorporating podcasts into your marketing strategy offers numerous benefits for your business and there’s never been a better time to get started.

Acting as a platform for your business to share its experience and expertise, these podcasts offer a different alternative to the written word, allowing you to present personality and enthusiasm for what you do.

Regular podcasts offering information, opinion and new ideas for discussion help establish you and your business as a leading authority, to be trusted by customers and new prospects alike.

Inviting similar respected individuals from within your business or from across your sector to help create the podcasts, will only add to your credibility and generate further trust from the audience, whilst expanding the number of likely listeners.

 

Building a stronger connection

Hearing people present sector news or discussing topics creates a stronger connection with the audience than them simply reading the information on a web page. When your podcasts are regular, listeners recognise your voice and presentation style, hopefully finding it a pleasant experience.

Listening to you explain in person helps the audience better understand your values and the way you run the business. You become a companion voice, a source for interesting news to be listened to whilst they undertake other tasks; unlike video or reading, which requires their undivided attention.

And if you’re good, there is the added benefit of your podcast being recommend to others who may be interested in what you have to say and sell.

In a survey conducted with 300,000 podcast listeners in the US, around 63% of respondents indicated they had bought what the host had been promoting, which demonstrates the power of podcasts to positively influence the buying decisions of the audience.

 

Creating a memorable podcast

A podcast may be relatively easy to produce, but the content is critical to the success and longevity of your activity. The mechanics are easy enough, requiring just a good microphone connected to your computer to make the recording and a way of editing the finished sound files.

However, whilst it is often lauded as a DIY project, it is easy to make a podcast that only you want to listen to and professional producers will enhance the quality of the output considerably.

The producer is also helpful for handling the transition between speakers, asking the questions, requesting clarification of unclear points or jargon and ultimately editing the hours of chat into a professional and efficient 25-minute sector specific podcast that thousands will enjoy.

The content can cover current events, changes in the sector, news specific to your business, a discussion around sector-specific topics, trends, legislation etc., but it must be interesting to the target audience and delivered in short sections.

 

Content is key

Thirty minutes on a single topic might bore the average listener, it’s easy to break the topic up into pieces and deliver several podcasts that revisit the subject. It’s also good to point listeners to your website if you have more detail on a topic, like a guide or catalogue they can download.

You don’t have to be funny or try hard to entertain. You just need to use your experience and imagination to deliver short bursts of interesting chat or discussion, in a professional manner, with the content tailored to your audience. And the more you do, the easier it will become.

Once finished, you can start promoting your podcast to increase its exposure to a larger audience. You would need to make the podcasts available on a variety of distribution channels, or enlist the help of a podcast producer, who will know the best channels to choose.

If you want to talk in detail about sensitive information only for your employees, perhaps explaining strategic decisions, or current lockdown policy, a private podcast can be created and a link emailed to specific recipients – it can be password protected if necessary.

 

And finally…

Remember, your podcasts can be tailored to meet the unique requirements of your business, whether you prefer to follow an informal or structured format is up to you.

It’s not all about well-edited scripts or carefully crafted questions, but about researching the topics carefully, agreeing what’s to be covered and then talking with friends as you would in the pub, not the boardroom – it’s where the authenticity comes from.

Everyone involved can be in a separate location, which at the time of writing makes podcasts the perfect tool for bringing people together to create memorable content that an engaged audience will find truly valuable, particularly when it comes to buying decisions.

 

Business

WHY AUTOMATING CAN FUTURE PROOF YOUR BUSINESS

By Ryan Demaray, Managing Director SMB EMEA at SAP Concur

 

Every business has administration duties that can be considered mundane and time consuming  but are a necessary core function of operations. Whether it’s paying suppliers on time or processing expense requests, tasks such as these are necessary for the day-to-day running of a business – however it’s safe to say that these tasks are never ranked as the most engaging or rewarding by your employees.

With a UK recession on the horizon, finance teams are under pressure to not only control costs but provide guidance to the business on where savings can be made. This will only happen if your employees are able to focus on tasks that not just keep a business running but allow them to add further strategic value.

Automating the invoice function is just one step towards giving your finance team back valuable time, not only creating a more efficient and productive workplace, but a positive employee experience that supports growth and stability across your business.

 

The gateway to better efficiency 

From receiving the invoice, inputting data, chasing approvals and moving it down the chain of command, research shows that it can take an average of 17 business days to manually process an invoice. For SMBs with a finance team of approx. eight people, implementing an invoice management solution can save on average 69 hours per week.

By allowing the technology to do the heavy lifting, your finance team can use the time to focus on more strategic elements of the business. This includes providing them a moment to take a step back and holistically look at the spending trends and costs across your business. By doing so, they can often pinpoint spend patterns, but also identify cost reducing opportunities, providing visibility and guidance to help positively impact the bottom line in the short and long-term.

 

Enabling growth and accuracy

As your business grows the number of vendors and suppliers you use often increases in parallel. This growth in external stakeholders can cause challenges and maintaining consistent and timely payment of invoices to suppliers is crucial. The Federation of Small Business estimates that late payments contribute to 50,000 insolvencies annually, costing the UK economy £2.5bn. The UK government recognised this and in 2019 implemented a prompt payment initiative, aimed at helping small suppliers get paid on time by enterprises, with the potentially penalty of not awarding government tenders to those who do not adhere to the prompt payment practice.

In addition to this, inhibiting the lack of cashflow to small business through late or unpaid invoices can have more than just a monetary impact. With poor invoice payment practices, your business reputation is likely to suffer damage, which in turn carries consequences across with future suppliers, as well as customers.

Through invoice automation, you are able to streamline your finance and accounting processing by making sure that payments are processed in time, resulting in avoidance of payment delays, calls from suppliers querying about invoice payment timescales and vital staff time responding to these.

 

Supporting employee engagement

Employees’ experiences affect their work outcomes and carry the benefits of high engagement, increased productivity, and a lower staff turnover. Creating a better employee experience is a challenge faced by many SMBs, but once cracked can provide benefits across your business.

More than just providing a workplace environment and culture, businesses with motivated employees can find recruitment and onboarding costs reducing, with retention rates increasing.

But it’s not only the employee that benefits from a better experience – your customers do as well. With many often on the frontline of customer interaction, it’s difficult to keep customers happy if your staff member is disengaged. By employing tools that allow the automation of mundane and repetitive tasks, employees can focus on aspects of work which they care about most.

 

Future proofing for tomorrow

Digital transformation is here and for SMBs employing an automated invoice solution, is a positive step in becoming a business that is ready for scale and growth. Not only will it help benefit your bottom line, it will create positive staff experiences and efficiencies, that help truly optimise your business – now and in the future.

 

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Business

COULD GRAPH TECHNOLOGY BE A POWERFUL WEAPON AGAINST CORONAVIRUS FRAUD?

Crisis funds and loans put in place to help support businesses during the health emergency have become a prime target for cybercriminals. Neo4j’s Amy Hodler examines how graph technology could be a powerful weapon against these scams

 

Fraudsters will use any opportunity to siphon off funds illicitly, and the pandemic is proving no exception. With coronavirus moving rapidly across the world and locking down countries in its wake, cybercriminals have been quick to launch sophisticated methods to callously exploit the situation.

Cybercriminals have been fast to impersonate trusted organisations such as the World Health Organisation, which has itself seen a five-fold increase in cyberattacks since the start of the crisis.

The pandemic is opening the doors for fraudsters who are taking advantage of changes in normal business processes, controls and working conditions to carry out fraudulent activities. Security controls, for example, are often not as strong as normal due to the speed aid is required and the fact that many people are teleworking.

Amy Hodler

Cybercriminals are using fake or stolen identities to draw down governmental emergency funds. In France, for example, the Paris Prosecutor’s Office has launched an investigation into massive fraud of the country’s temporary unemployment scheme where fraudsters have drained €1.7 million. It is investigating potential international links to the fraud.

In a statement Paris Prosecutor Remy Heitz said that more than 1,740 fraudulent operations were discovered across the country on behalf of 1,069 different businesses asking for wire transfers to over 170 different bank accounts.

 

Can financial services’ practices help?

Aid departments and organisations should look to the mature practices of the financial services industry for a lead in combating fraud. Here firms repeatedly and meticulously check and compare transactional data to look for suspicious behaviour that may indicate an attack.

Like applications for financial aid for the impact of the coronavirus, malevolent actors look to defraud financial institutions using false identities when creating accounts and putting together loan applications. Personal data such as addresses, telephone numbers and emails are cleverly assembled to model assumed and phony identities.

 

A need for a different approach

One of the main reasons traditional approaches fall short is that most fraud detection systems are based on a relational database model where data is stored in predefined tables and columns. With large, unstructured data sets, relational databases swiftly reach their limits; queries turn out to be far too complex and response times lag. Banks and government authorities need the ability to follow a trail from one account to another, viewing a fraud network as a whole complete entity to work out how activities are linked.

Unlike relational databases, graph database technology not only represents individual items of data such as person, account number, home address, but also their relationships with one another such as how they are related. Any number of qualitative or quantitative properties can be assigned, showing complex relationships in an easy to understand way.

One of the best graph algorithms for fighting coronavirus cybercriminals is ‘PageRank’, which finds important nodes (objects) based on their relationships and interprets them using visualisation tools. For fraud detection in banking, the algorithm identifies important or influential customers who are featured in a large number of financial transactions. Nodes with a high PageRank Score can be illustrated using a visualisation tool so that they appear larger in the view and can be immediately picked up.

Another key algorithm is ‘Weakly Connected Components’, which works to reveal the hidden networks that form a fraud ring based on common identity features such as multiple applicants all residing at the same address. These hidden connections provide invaluable information when hunting down fraud.

 

Uncovering fraud rings with incredible accuracy

 Cybercriminals are continually developing attack methods, sharing infrastructures to maximise their opportunities for success. Graph technology has the capacity to help stop advanced fraud scenarios in real time.

Graph databases can help future proof an organisation’s fraud prevention initiatives by enhancing insight based on data relationships and building connected intelligence.

 

The author is Director, Analytics and AI Program at Neo4j, the world’s leading graph database company, and co-author of Graph Algorithms: Practical Examples in Apache Spark & Neo4j, published by O’Reilly Media

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