Kristy, Author at Reader Techlines
Business-intelligence

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A handful of common mistakes, including leading with social media technology and not aligning with business goals, often derail enterprise collaboration deployments, say users and experts.

Gone are the days when communication used to be a cakewalk in companies. You walked in the hallway to talk to your colleague or picked up the phone and banged out an email to resolve small issues. These methods have got way quaint and less effective in the soaring companies. In addition, the amount of information that employees must sift through has surged exponentially. For these burgeoning companies or organizations, the answer to those issues is “collaboration tools”.

Incepting an Enterprise Collaboration Software Initiative for the Corporate Parent:

  • Making Adoption Mandatory: Before deploying a system into use, a company needs to essentially establish a culture that spurs communication and collaboration. The technology in and of itself doesn’t make any collaborative says industry experts. Many of the social business systems provokes and enables employees to come in interaction, post status updates of ongoing projects and even gives them the ability to establish networks with external partners. But dejectedly, these platforms are no less than a conduit meant solely for communication. A collaboration tool has to be shiny and way more happening then this.

Opportunely, well designed enterprise collaboration systems simplify the communication process, which has grown more complex for employees at multiple companies due to the proliferation of remote (geographical) and global work environments, the accelerated pace of business operations and the rapidly augmenting amounts of data that workers have to contend with. It effectually encompasses the use of holistic collaboration platforms, enterprise social networking tools, a corporate intranet and the public internet.

  • Take Collaboration as a Strategic Business Goal: According to the vice president of worldwide customer engagement, prior to deploying collaboration tools, you need to leverage and analyze the requirement and business problems you need to solve.

Until and unless you have a precise understanding of how an EC platform should be aligned with the organization’s strategic goals at both corporate and business-units levels, it cannot be viewed as a useful tool.

Rolling out the Outcomes of Deploying a Cloud Collaboration System in Companies

The ability of cloud solutions to provide access to a shared database, in combination with the ease of integration with mobile and social technologies, is an acknowledged benefit of cloud. In addition to its efficiency gains, Companies have achieved an unexpected improvement in the quality of its customer service as its dispatchers gained greater insight into and knowledge of the service delivery process. And costs have become more transparent since technicians’ time can be billed to projects in near-real time.

Notably, the companies have reported major technical challenges and smoothed its implementation. The major challenge accomplished was the human element- that is the job of getting thousands of employees to leave their silos and embrace a new platform.


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The past few months have brought a trend of consolidation in the enterprise space. In response to the debunking popularity of agile startups (due to their effective enterprise collaboration), have been consolidating power and influence to keep their holds on industry.

On one end of the spectrum, where juggernaut companies like Microsoft and many others are forming strategic relationships to knock out impending competition on key platforms, meanwhile companies like Oracle have started making attempts to purchase startups to subsume their services.

Do you wonder what stands as the true motivation of these large companies behind these drastic moves? Inherently, it’s the concentrated effort of startups to establish them into an aspiring role which they have already started witnessing in their humble beginnings.

Nonetheless, the key to skyrocketing startups has always been its ability to tackle common problems with a clean slate and a focus on flexible, customized adaptation. The indispensable wand behind this that makes them strikes a chord is: Collaborative Tools

Harnessing the Cloud with Enterprise Collaboration Tools:

  • Uniting Mobility: While this may be unsurprising, the footing to create a nimble workflow lies in the cloud. An organization to reach its par excellence, needs to harness the cloud’s power to be more collaborative, adaptable and accessible anywhere.

Apparently, mobility is accelerating with a faster pace and has eventually become a major leading factor when it comes to enterprise software of choice. When it comes to choose between integrating unique services, providing a systematic and organized format and allowing for consistent accessibility, the cloud has the extended ability to assist businesses to hit all of an enterprise app’s primary needs.

  • Aligned Input and Impact: Collaborative tools direct employees to perform tasks swiftly and allow them to see how their contribution fits the bigger picture. Since, aligning input with impact is the smartest way to drive employee investment.
  • Native innovation: Those enterprises where transparency does not restrict innovation to the context of product or services, they always take innovation natively as well as functionally. Nonetheless, it is the byproduct of collaborative tools.
  • Evolving Into A Transparent Enterprise:

A democratic organization commit to changing their organizational structure from one that is hierarchical and centralized to one that is blandish and more democratic.

  • Democratic information sharing:

These tools adds feather to the hat by proffering transparency in the enterprises to a small, large or geographical circle of executives and locations rather than confining the key information (e.g. organizational goals, performance metrics, resource utilization plans, and other vital sources in the silos etc.). They spur and drive participation at all levels, leveraging 100 percent of their knowledge capital to make better decisions.


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Nowadays every business industry is worried of their meetings. Because they are not getting expected results from their meetings, as a result around 30-40% their revenue is wasted. And also owners finding very difficulty to engage their employees and clients, it’s mainly because no proper way of conducting meetings.

Everyone don’t take it serious and they talk out of subject. By analyzing all these problems, computer experts and business developers found one best way to conduct sessions. And this scenario is encouraged to develop some very advanced and intelligent large interactive multi touch collaboration devices and some software’s to run meetings via web.

Following are the features of collaboration devices

  • More than one person can work at a time on big touch screen by sharing screen
  • into several interactive parts
  • They have inbuilt high resolution camera, quality speakers and projector and more
  • Use finger or stylus pen to operate on large screen
  • Share your data or presentation into collaboration device using either mobile,
  • tablet, laptop, desktop, download it from Google or use any other data sharing
  • medium
  • Setup meeting anywhere, anytime and work as you wish
  • Device will automatically save your sessions into cloud

I wrote aforementioned points after deep analysis of many collaboration devices. And I want to tell that which is the best white board or smart board. Yes!! of course Next Gen Multi Touch has released very advanced and affordable system compared to all other products. Which has awesome software and inbuilt Apps which makes you feel WOW!!. You can use this product for business, agriculture, education, forest department and in many more. So I suggest you to go with this product why because they provide best customer support too.

How collaboration devices can help to improve your group productivity?

  • As I wrote above, by using collaboration devices we can improve our company productivity by conducting successful meetings.
  • First of all employees will not get bored even if you run long sessions
  • No need of pen and papers, device saves each and every points which we have
  • discussed. So in future also we can open and revise all the points we discussed
  • Even you can invite remote person to join ongoing sessions by using video
  • conferencing option which is present in meeting wall device and which makes you feel like if they are in same conference room.
  • As this is new invention in market so clients and employees will watch your activities carefully
  • Very easy to use and install

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When it comes to enterprise collaboration, proved to be a successful year which experienced several emerging trends and technologies. It’s not at all a surprise to hear that collaboration with the administrative center or in any workplace is an important ingredient to exhibit success.

Indeed, many companies benefitted from the advanced and better enterprise collaboration options which emerged in the market last year. Though, several trends that has been around and will surely continue to be in 2018 also. However, it is certainly possible that 2018 brings more excitement and relevancy in terms of enterprise collaboration, so that the operation efficiency of the organization can be enhanced.

Latest Enterprise Collaboration Trends:

Essentially, enterprise collaboration is all about how well an organization communicates, for the purpose of discussing work, delivering feedback and sharing ideas and files in less time. Explore some exciting trends that will help the employees to amplify their operation efficiency-

  • Real-Time Collaboration: Real-time collaboration is using the Internet and latest technologies to communicate with co-workers as if they were in the same room, building or even if they are located on the other side of the world. The need for real time collaboration is something increasing very rapidly due to increasing global team work, remote freelancing, collaboration of two or more organization etc. In such a situation the latest software, video conferencing and master data etc., help people to work together in cohesion, effectively and at a faster pace. The most important part is employees can communicate easily and efficiently no matter where they are.
  • Enhanced Integration: In an IT context, smooth and insightful integration of different software is very common, but in 2017 it is going to be more impactful. This is one of the most superior way in which smart software developers can help the team members to collaborate easily through enhanced integration of data. This means that transferring data from one department to another department or switching between tools will become completely hassle-free.
  • Boom of Mobile Device: In today’s era, mobile technology is massively dominating the IT industry, as of now having a mobile phone for professional use is simply a common phenomenon for the workers. This means that the new software has to work healthy across different variety of devices. The strongest factor of using the mobile device is to save the time, you can easily share the information and meanwhile the employees can carry out their work. Of course, this also means that people can easily get involved in their enterprise collaboration tasks at any time anywhere.
  • Greater Security: These days all the companies have a huge demand for a better security system, due to their apprehensions about the company’s private data storage. There are a number of ways of meeting this need for a strong security when it comes to enterprise online tools. Nowadays, there are several enterprise collaboration tools obtainable to serve a great essence of security.

Above mentioned are some emerging and enhancing in enterprise collaboration solutions to rule in 2018 that will help businesses of all sizes and niches to boost the integration of their massive product data in a systematic and safe way. Adopt these latest trends right away to experience a product data management and integration shift in your business enterprise.


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Virtual Collaboration (or e-collaboration) refers to the use of digital technologies that enable organizations or individuals to collaboratively plan, design, develop, manage, and research products, services, and innovative IT and EC applications. Although e-collaboration can involve non-commerce applications, the term usually refers to collaborative commerce- collaboration among business partners. An example would be a company that it is collaborating electronically with a vendor that designs a product or a part for the company. Collaborative commerce implies communication, information sharing, and collaborative planning done electronically through tools such as groupware and specially designed EC collaboration tools.

Numerous studies (e.g., line56.com. 2002) suggest that collaboration is a set of relationships with significant improvements in organizations performance. Major benefits cited are cost reduction, increased revenue, and improved customer retention. These benefits are the results of fewer stockouts, less exception-processing, reduced inventory throughout the supply chain, lower material costs, increased sales volume, and increased competitive advantage. According to a survey conducted by Deloitte Consulting and reported in manageradvisor.com (2002), 70 percent of the companies conducting collaborative commerce are showing higher profitability than those who do not.

Of those companies surveyed, 75 percent consider online collaboration, especially linking business processes, to be a top executive priority. These figures, gathered in 2002, are more than 20 percent higher than responses from 2000. Finally, 85 percent of all companies plan to have advanced collaborative commerce initiatives by 2005. Some of the major strategic benefits reported are an increase in process flexibility, faster delivery speed, and improved customer service.

C-commerce activities are usually conducted between and among supply chain partners. For examples, Webcor Builders is using a communication hub to facilitate collaboration.

The Webcor case shows how one company becomes a nucleus firm, or a hub, for collaboration. Such arrangement can be expanded to include all business marketplaces, in which a third-party company is the nucleus firm, creating a place not only for collaboration but also for trade.

Collaborative Networks

Traditionally, collaboration took place among supply chain members, frequently those that were close to each other (e.g., a manufacturer and its distributor, or a distributor and a retailer). Even if more partners are involved, the focus has been on the optimization of information and product flow between existing nodes in the traditional supply chain.

The traditional collaboration resulted in a vertically integrated supply chain. However, as discussed in earlier chapters, IT and Web technologies can fundamentally change the shape of the supply chain, as well as the number of players within it and their individual roles and collaboration patterns. The new supply chain can be a hub, as in webcor case, or even a network. Interaction may occur among several manufacturers and/or distributors, as well as with new players such as software agents that act as aggregators, B2B e-marketplaces, or logistics providers.

The collaborative network can take different shapes depending on the industry, the product (or service), the volume of flow, and more.

There are several other varieties of virtual collaboration, ranging from joint design efforts to forecasting. Collaboration can be done both between and within organizations. Next articles, I will describe examples of virtual.


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Collaborative leadership is more than just practicing cooperation at the workplace. It is about leading towards a collective outcome that makes it possible for all key stakeholders to succeed. Collaborative-minded leaders view the collaboration itself as a process that is critical to align the direction, people, and the practices towards the achievement of common goals. Collaborative leaders engage others to work together with ownership and commitment for a common outcome.

In the current VUCA environment (Volatility, Uncertainty, Complexity, Ambiguity), it is impossible for any one single manager to get things done. In this dynamic business environment with VUCA dimensions, leaders know that they don’t have all the answers and they need to engage the others through collaboration to be in control of the situations.

The traditional autocratic and managerial leadership styles are no longer suited to the current business environment. It is the collaborative leadership with dimensions of democratic leadership that is going to help the businesses to survive and grow. While the autocratic and managerial style of leaders focus on keeping the power and control with them to get things done, the collaborative leaders are willing to let go of the power and control, and yet get things done far more effectively.

The essential of collaborative leadership includes mastery of collaboration practices that focuses on relationship management skills and effective communication skills. These leaders display high degree of integrity and focus their energy and efforts in building and sustaining trust across departments in the workplace.

Organisations led by collaborative leaders have certain unique characteristics such as:

  • They collaborate across all aspects of the organisation
  • They believe that collaboration benefits everyone
  • Engage everyone by listening to the ideas and concerns of all employees

Collaborative leaders recognise the benefits of the approach. The advantages of collaborative leadership are many, including the following:

  • Greater access to more ideas and information
  • Opportunity to achieve sustainable results
  • Greater buy-in from stakeholders
  • Possibility of creating and sustaining a community of collaborators in the workplace
  • Maximisation of resources and financial savings
  • Improved and better products and services
  • Access to niche skill set that exist in the organisation

Collaborative leaders demonstrate a number of relationship management skills such as listening without judging, encouraging & enabling participation from others and showing empathy when interacting with others. They are able to ask questions aimed at solving problems and accepting diverse views, while seeking agreement.


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We have been taught the value of team work from the time we were toddlers in pre-school. Sharing our crayons with classmates, helping out weaker counterparts in class projects, playing together as a unit in team sports, helping out around the house — most people enjoy multiple avenues to hone their teamwork skills.

Unfortunately, in spite of all the years of practice that we get, a lack of cohesion and team work are cited as prime reasons for friction between co-workers at innumerable organizations. This friction often simmers under the surface for years, creating an atmosphere of distrust and one-upmanship that is lethal to a healthy organization.

However, collaboration within an organization has many more benefits than just a pleasant workplace.

Collaborative businesses market better.

A recent study conducted by Oracle quizzed over 900 marketing and IT leaders across 50 countries and over 500 organizations. According to this study, the most important benefit that comes from a collaborative workspace is the development of compelling marketing messages that led users to buy more. A good marketing message distils the best aspects of a product and presents it to the target audience in such a way that it perfectly satisfies the audience’s needs.

Through regular interactions with other teams, open lines of communication and cross-functional projects, each team learns more about the company and how they can contribute better to the organization’s success. Marketing teams can learn more about product nuances from the technology teams, discover customer quirks from the customer care team and better understand cost structures from the finance team. From a better user experience to more relevant communication to attractive pricing strategies, each of these interactions has a profound impact on the communication a brand puts in front of its users.

Other important benefits cited included faster speed to market and greater adoption of products and services offered.

Conscious collaboration versus informal collaboration.

Apparently, it’s not enough to unconsciously collaborate on projects. A 2013 Aberdeen Next-Generation Communications (NGC) study on the communications practices of 126 organizations found that organizations that said that they actively foster collaboration among employees showed a significant improvement in key business indicators year on year.

Let’s say your organization implemented a project management and collaboration tool like Wrike across all functions. The sharing function allows team members to share data easily and store all data related to one project in a single place. Simple @mentions like “@DesignTeam, we need the prototype sketches by 3:00 p.m.” make cross-team communication quicker and more transparent.

With robust communication within and between teams communication your organization could enjoy a 16 percent growth (y-o-y) in customer retention compared to non-collaborators. Employee productivity and employee satisfaction grows for consciously collaborative organizations by 15 percent and 13 percent respectively. In the case of non-collaborators, productivity grew only by 2 percent and employee satisfaction actually dropped 2 percent year on year.

Another study on the collaboration practices of 629 companies showed that these benefits are only felt when a collaboration is officially recognized as an organizational imperative and collaboration tools are formally installed to encourage maximum co-working across the organization. Invest in collaboration tools and mandate their use across the organization as a necessary factor to maximize organizational efficiencies.

Customer collaboration elevates the product.

Do not limit collaboration within the four walls of your organization. Collaborating with customers can be an equally rewarding experience. Even as companies lower their product research and development costs by sourcing ideas from customers, products incorporating these collaborative ideas tend to be more successful thanks to an existing demand for them among users.

The examples are numerous. A web-to-print service like Design’N’Buy allows users to design their own personalized products before buying them. MyStarbucksIdea is a vibrant community dedicated to inviting product ideas from Starbucks’ customers and implementing them in real products. Product innovation that comes from customer inputs even has the power to create whole disciplines. MIT professor Eric von Hippel describes how a user innovation of adding a foot strap on surf boards led to the birth of the high-performance wind surfing as a formal sport.

Much as we believe that we are most productive in our little silos, the fundamental fact remains that humans are social animals. By denying the opportunity to collaborate and cross-pollinate ideas, businesses contribute to their own speedy demise. In the interest of your business’ bottom line and longevity, join the 41 percent and 38 percent of marketing and IT leaders who have improved collaborative work practices in the last 12 months.


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The world is obsessed with lone geniuses. We admire the outstanding talent of an artist, present the Nobel Prize to an individual scientist, laud a visionary CEO and revere the lead singer while paying scant attention to the band around them. Even that most collaborative of art forms, cinema — with its huge crews, ensemble casts and specialist disciplines — spawned the auteur theory that gave singular credit to a film’s director.

Today, collaboration in the creative process is more important than ever before. Paradoxically, the importance of effective collaboration has been driven by the broad accessibility of creative tools. Creativity is no longer the sole domain of trained professionals. We live in a world where anyone, regardless of talent, can self-publish a blog, blast a photo shoot with their iPhone or capture 4K video footage on their GoPro. The bar has been raised. To make great content, you need to call in the professionals.  And for professional content to stand out from the sea of junk, it often needs a team of people with specialized expertise to make it great.

But anyone who has experienced first-hand the acute pain involved in getting a group of creative people to effectively “collaborate” can attest to how difficult this is. Think goat rodeo. More often than not, the project lurches ahead (or sometimes sideways or even backwards), with competing ideas for creative direction. Concepts are painstakingly nurtured only to be unceremoniously discarded. Work festers awaiting review. Approvals are ambiguously granted, then denied when the approver doesn’t like what they see in the next round. Revisions are endless. Deadlines are missed. Budgets are exceeded. Clients are lost. It’s a hot mess.

But creative collaboration — which I define as what happens when creative professionals and stakeholders take a project from concept to completion, via multiple rounds of iteration and feedback — can be better managed and made more effective by following four simple rules:

1. Communicate often.

Renowned data scientist, Alex Pentland, is fascinated by “the buzz of a group that’s blazing away with new ideas”. His own team at MIT’s Human Dynamics Laboratory set out to understand the science behind good teamwork, using electronic sensors to capture how successful teams communicated in real time. The results of his research provides lessons in how your team should work together: communicate frequently, talk and listen in equal measure, engage in frequent informal communication and explore for ideas and information outside the group.

2. Get out of email.

In a recent survey conducted by my company, Hightail, we discovered that one-third of respondents had worked on a creative project that was late or over-budget in the past 12 months. And no wonder: 66  percent of people said they conducted creative reviews in email but only 30 percent thought it was an effective way to collect feedback. Not only is your inbox an unceasing torrent of distractions, it’s ill-suited to sharing and discussing visual files like images and videos. Instead use a dedicated collaboration service that will help you stay focused and give your visual files the context so often lacking in email.

3.Minimize cat herding.

Creative professionals are usually great at what they do but less so at managing the process around collaboration. When this part of the creative process is mismanaged, it can lead to compromised and underwhelming work — not to mention frustration. The key to effective creative collaboration is to allow talent to shine, while minimizing the tedious cat herding that causes people to “give up”. Review how your team works and change things to make sure they’re spending more time on the creative and less on the process.

4.Don’t leave people out.

More nuggets from that Hightail survey: 60 percent think that critical project stakeholders lack sufficient oversight, while 85 percent believe that getting clear final approval on work is an issue. People from outside the core creative team, like account directors and CMOs, are often left out of the process until it’s time to rubber-stamp the ‘final’ version. This is usually because there’s no simple way to include them that doesn’t involve another tedious email update. Using an easily accessible common digital space to share the latest versions of creative work is a good way to ensure these stakeholders are not forgotten.

Genius doesn’t just love company, it’s usually a product of it. But great collaboration needs work. These four rules for cultivating creative collaboration will help your next project be more successful. The genius part is up to you and your team.


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Before you can agree on your collaboration terms, you need to find the right influencer. This means doing your homework to ensure the chosen influencer is consistent with your brand’s look, feel and tone. You can start by learning what other companies are doing. Research your competitors and look at other brands that aren’t necessarily competition, but share a similar demographic. Lastly, analyze the performance of your current posts and establish which ones are doing best and explore why.

Once you’ve done your homework, get to learning! Ensure you and your marketing team know about the latest tools available on various social media platforms. Look at how several companies use them and implement this into your social media marketing plan.

Why is an influencer collaboration agreement important?

It’s likely you and your chosen influencer have a lot invested in your newfound relationship. Aside from money being on the line, you both have a reputation to withhold, loyal followers you want to keep happy, and sales to maintain.

An influencer collaboration agreement is important for the same reason a contract between an employee and company is: to protect the interests of all parties involved. Your collaboration will also clarify:

  • Who has creative ownership of the content being created
  • Who has usage rights over this content
  • What is expected from all parties in the agreement
  • The expectations for the campaign

Now that we’ve established why a collaboration agreement is essential, let’s get going with how you can create one for any future influencer marketing campaigns.

How to create a collaboration agreement.

The expectations you have for your influencer marketing campaign should align with your brand’s marketing processes. It’s important to remember that you’re investing a lot of time and money into your campaign, so expecting incredible results from a few simple Facebook posts won’t cut it.

Aside from thinking of other tasks for which you could leverage your influencer, create a two-way relationship whereby your influencer becomes part of your team, rather than just another marketing tool. For example, your influencer could help you by:

  • Creating content for a new product or service launch
  • Sharing posts and images that are relevant to your chosen campaigns
  • Attending both digital and in-person events you plan on hosting or sponsoring
  • Answering product questions
  • Gathering feedback on your various promotional messages to establish which ones are most powerful
  • Providing ideas for product or service improvements
  • Voting for new product designs
  • Sending out social media surveys

1. Tell them about the content you expect them to produce.

Think about the type of content you want them to produce. Do you need a combination of blog posts and imagery? Or do you feel short, yet engaging posts with high-quality media would have more of an impact on your audience? Combining your marketing knowledge with their influencer expertise is the best way to make the most out of your campaign.

Once you’ve agreed on the type of content you want published, decide on the frequency. Look at your social media and website’s data and establish the best time to post content. From there, ask your influencer to provide you with an adequate number of posts for your own channels and combine that with a specific number of posts on their accounts.

2. Specify the amount of media to be used in each post.

Content with relevant, high-quality media is much more efficient than plain writing. If you want your posts to make an impact, you need to include some form of imagery, videography, or even infographics and gifs.

When thinking about image specifications for your agreement, ask your influencer if he or she has a portfolio of media that could work for your campaign. Remember to also share some of your own media and avoid stock photography at all costs. Instead, aim to include:

  • Product pictures
  • Lifestyle shots
  • Informational video clips
  • Video tutorials

3. Discuss channels on which the content will be published.

Where your influencer’s content is published will depend on your brand and the types of product or services you offer. It will also need to vary according to your audience. You’ve most likely already researched your influencer’s following across various social channels, but be specific about where you want your campaign’s content published.

Come to an agreement with your influencer as to where the content will be promoted. Consider asking whether the same post will be shared across various platforms for quick reach or whether a new post will be designed for each specific social channel in order to ensure maximum engagement.

4. Establish your content usage rights.

You’ll most likely reach an agreement in which your influencer will always retain ownership as the creator of the content he or she is publishing. That said, you do have certain rights to it and it’s essential that you clarify these in your agreement.

Think about for how long you will need to have access to the content. Take into consideration the fact that you may want to reuse the content created at a later date; for example, during a seasonal sale or at a promotional event for that product or line of products. You could need it one, two, or even three years down the line. Don’t limit yourself by forgetting to outline these usage rights.

The content usage rights section of your collaboration agreement should also highlight:

  • Copyrights
  • Any licences
  • Clearances for third party uses

5. Abide by the regulations of sponsored content.

Regulations on sponsored content are changing on a weekly basis nowadays. Most people aren’t knowledgeable about which country allows what. When putting together your agreement, be sure that your influencer is aware of the regulations in your area. Check the legislations and outline them clearly.

The best way to avoid any complications is to stay cautious by implementing a rule in which your brand and influencer always use hashtags such as “#ad” or “#spon”. These hashtags display a level of transparency among your customers without affecting the performance of your posts.

6. Provide tracking links for your influencer.

You wouldn’t start a regular campaign without knowing how to track it. The same goes for your influencer marketing campaign. In order to track the performance of your influencer’s posts, you need to provide them with tracking links, as well as coupon and promotional codes.

When creating your collaboration agreement, you must clearly state how and where you would like these codes to be implemented. Typically, you’ll want codes to be incorporated into every piece of content so that you can make amendments to what is underperforming and shift your focus to areas that are performing well.

7. Specify whether your campaign is dedicated or non-dedicated.

Dedicated sponsorship is when no other brand name is mentioned in a sponsored post but your own. On the other hand, non-dedicated sponsorship allows for other brands to appear in a post, video, and any other form of content. The type of sponsorship you agree upon will predominantly depend on the amount you are paying your influencer.

Be clear about the type of sponsorship agreement to which you are signin. Many influencers today work simultaneously with multiple brands. Although relevant when creating content such as fashion mood boards, you may not want to appear alongside your competitors in the same post, especially if you offer similar products to the ones mentioned.

8. Set preview expectations.

Do you want to see your influencer’s posts before they are published in order to ensure they follow the right style and tone? If so, make this clear. There’s nothing worse than having to delete a post once it has been published. Even if one customer sees and shares it, it could ruin your image, or worse, your reputation.

Make sure you clearly outline your preview expectations. Your influencer should be aware of:

  • The timeline in which to complete work
  • Deadlines you have set
  • Your review and approval schedule for each post

9. Discuss your timescale.

That brings us to your timescale. Your marketing team and influencer need to be working on the same timeline. It could be that you are running a promotion or have released a new line of products and need your campaign to coincide with this. Whatever the reason for your influencer marketing campaign, your team needs to be backing it up every step of the way and vice versa.

Be honest about your time requirements. Don’t assume it will be fine and that your influencer can adhere to your schedule. Bear in mind that you are most likely not their only client. By being upfront and including it in your agreement, you’ll be able to gauge whether or not your influencer can meet your deadlines, thus avoiding any unpleasant surprises.

10. Expect to make some form of payment.

Influencers aren’t free. You may be able to exchange products for part of the services, but you will most likely have to pay a fee as well. Remember, you’re paying for multiple services at once, so don’t be surprised by the price.

The fee you agree upon in your agreement should include:

  • Content creation
  • Usage rights
  • Access to your influencer’s audience

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Why Collaborations are Crucial for Fintechs?

‘Make the pie bigger’ is a philosophical line that aptly suits any discussion about collaborations, and when it comes to fintechs in India, a subcontinent that doesn’t fit a homogeneous cohort, collaboration is the only way to participate and thrive in India’s exponentially growing fintech and digital economy movement.

Government is collaborating with start-ups (BHIM and Uber), start-ups are collaborating with banks (mSwpie), banks are collaborating with accelerators (Axis bank Thought Factory), accelerators are collaborating with BFSI industry players in general (Fintegrate Zone 2018). The circle of collaboration in Fintech has always been a full 360 degrees; but the speed at which digital is seeping into people’s lives, collaboration is a cornerstone for Fintech players to innovate and avoid a ‘Kodak’ moment. Here are some scenarios where collaboration is driving growth and innovation in Fintech.

Collaboration for Better Digital Inclusion

Banks need to look further than the conventional indicators to underwrite credit risk, something they have relied upon for decades. The informal sector is a huge chunk of people who are still not technically ‘eligible’ for a bank loan; this exclusion is bad for the economy. But tech-savvy start-ups like Flexi loan and India Lends are using technology to underwrite creditworthiness and redefining lending in alternative space. Banks can sure collaborate to have better financial inclusion.

Collaboration for Concentric Expansions

Peer to peer lending (P2P) is one of the hottest area of fintech, and conventional business conglomerates are yet to warm up to the idea as much as start-ups have. With RBI regulating the NBFC space including laying bare the directions and norms for P2P lending, the market is poised to grow up to $5bn by 2023. Other NBFC and BFSI players collaborating with existing start-ups may grow the space and bring in more excitement to the space.

Collaborating with Start-ups for Innovation

ICICI Bank is partnering with Stellar, a blockchain start-up, to build blockchain-enabled payments network. Stellar provides ICICI Bank with an open-source online ledger, or blockchain, designed to oversee the movement of money. ICICI Bank customers in India and abroad can transfer money through a free mobile wallet over Stellar’s platform. Such partnerships between banks and fintech start-ups can drive momentum of the national financial inclusion agenda.

Collaboration with the Ecosystem for Building a Better Tomorrow

Banks like Axis and Barclays India have committed to innovations in Fintech by partnering with not just a few, but with entire start-up and tech ecosystem. Axis’ ‘Thought Factory’ and Barclays’ ‘Rise’ program are long-term initiatives to have continuous, seamless, and ongoing dialogue with Fintech start-ups, accelerators and industry experts to internalise the way they innovate.

From Design sprints to Hackathons, the Goliaths are leaving no stone unturned to stay in the game with Davids.

Collaboration for Service Quality

The way customers interact with financial institutions is also changing. The millennials prefer chatbots to actual human interaction. Collaboration also helps to transform traditional services into new avatars of delivery. MetLife is collaborating with Imaginate, a virtual reality and augmented reality software developer based in Hyderabad, to create a unique customer journey for insurance policyholders throughout India.

Such a collaboration will allow MetLife customers to immerse themselves in a virtual branch where they can engage with agents digitally to have questions answered and submit claims; similarly, Bajaj Insurance partnered with Amazon Alexa and customers can get all their insurance policy related questions answered with just voice.