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How 2020 Has Forced CMOs To Think Differently, Part 1
In the first of our two-part series addressing common pain points for CMOs in the current climate, we focus on integrating the right technology tools and using that tech to gain essential insight and justify spend during an economic downturn.
19 Business Resolution Suggestions to Focus Your Company in 2016
The end of the year is just days away, and our belief is that every year should be better than the last. To help you think about what you can focus on improving for your business in 2016, we asked business leaders to share their thoughts on the most important resolutions companies should be making for the coming year. And remember — in business as in life — every day is a chance to do better. Even if you don't focus on these business resolutions until June, that is still a great time to improve your company. Now see what these business leaders suggest you focus on in 2016: Build a road map “Businesses should identify specific opportunities for growth (rolling out a new product, exploring new markets, or making acquisitions) and [inlinetweet prefix="" tweeter="" suffix="—via @Wrike"]build a road map to make it happen.[/inlinetweet]” —Aleks Peterson, Technology Analyst, TechnologyAdvice Mobile accessibility “Mobile vs. Desktop disparity and smartphone penetration has deepened in 2015 at a pace that is showing overnight impact in a lot of industries. Companies need to speed up work to accommodate shifting dynamics in consumer trends, and accordingly bring about change in their business processes & people training.” —Annkur P Agarwal, CEO, Pricebaba “Make sure mobile is a big focus. We see a large share of our visits coming from mobile devices. On top of that, Google's search ranking algorithm now penalizes sites for not being mobile optimized. For us, this largely means optimizing our website. For others, it may mean the same, or could mean developing an app, advertising on mobile devices, or even offering mobile specific services. It's hard to say exactly how the shift to mobile devices will affect your business, but know that it definitely will. I suggest analyzing how mobile is currently impacting your business, what mobile trends you’re seeing, and developing a strategy to capitalize on it.” —Will von Bernuth, Co-Founder, Block Island Organics Know why you do what you do “Companies need to set clear priorities and make them accessible and understandable, so they can maximize the return on each hour they invest into their business. Focusing on what truly matters to fuel the growth and sustainability of your company is vital for success in 2016.” —Anthony Pezzotti, Co-Founder, Knowzo.com “Be strategic and take time to consider why you're doing the things you are and try to make contemplative pause a habit. Making lists and checking off 'to-dos' might make you feel productive, but you should be wary if it starts to feel rote. Deeper and more meaningful course correction might be needed to ensure you're maximizing the return on your invested effort.” —Chris Ricci, Indigenous Software Communicate with customers “Pick a platform and use it to address your consumer's most burning questions. Any platform such as a blog, YouTube channel, advertorials, communities, podcasts, or social media sites will work. If you can educate your customers on your industry, you will earn their trust and their business. This will not only help build brand awareness, but directly impact your bottom line in a positive way." —Mack Dudayev, CEO, InsureChance, Inc. “I have found it difficult to stay as close to our end users as I once could. To combat this, I man our customer support chat for 1 hour every day, 7 days a week. This daily first-hand interaction with our users allows me to stay grounded in our customer's logic; it has been instrumental in guiding our product development strategy. I can confidently explain to our engineers why a feature is important, as well as provide data to back it up. I have a mantra: [inlinetweet prefix="" tweeter="" suffix="—via @Wrike"]Listen to your customers, or you will have none.[/inlinetweet]” —Bryan Clayton, CEO, Greenpal Work smarter “Businesses should focus on improving team collaboration — get everyone plugged into the same assets, working toward a shared set of goals with clear visibility.” —Aleks Peterson, Technology Analyst, TechnologyAdvice “80% of your business profits come from a mere 20% of your activity. In other words, most of your regular business activities don’t benefit your bottom line. Here are a few specific tips for working smarter, not harder: 1. Learn to delegate. Focus on the areas of your business you’re the strongest in, and delegate the rest. 2. Remember that time is money. Actually, time is more important than money. You can make more money, but not more time. Stop wasting time on business activities that don’t make you money. 3. Build a tribe. By building a loyal base of customers and raving fans, you can spend less time on shameless self promotion because they’ll do a lot of the work for you.” —Blair Nastasi, Founder, Media Moguls PR “Focus on sound growth & autonomy. It's an election year, and the economy and jobs outlook appears solid, and I believe 2016 will be looked back upon as an inflection point. Those that focus on the fundamentals and establishing a strong base to weather future macroeconomic headwinds will be well positioned.” —Mike Trevino, CEO, Indigenous Software For customer retention “Ask the questions around how well your company keeps customers. New sales are great (“Get the check”), but repeat sales (“Keep the check”) are where you make your money. Don’t believe me? Look at your average cost of acquisition and your average profit and see how long it takes to make your money back on a new sale. Profit is not made on the new sale. It happens by keeping customers on the books, paying you. Focus on retention and watch your profits accelerate.” —Lou Altman, CEO & Lead Trainer, Next Level “Prioritize how to increase the long-term value of customers. It’s very expensive to acquire a customer, and a lot less expensive to retain them. The success of businesses comes from a combination of great customer service and a focus on how to generate additional revenue from current customers. If companies learn how to do this well, they will create lifetime customers, a good source of referrals, and independent advocates on behalf of the company. If your business is already doing this, focus on ways to improve this process.” —Deborah Sweeney, CEO, My Corporation In marketing “Exercise creativity when it comes to your marketing efforts. As paid search and organic search channels become increasingly competitive and expensive, it’s important that organizations think outside of the box to get in front of quality prospects. Whether it’s understanding how to leverage Reddit to promote content, or understanding how you can use Pinterest to increase lead flow, 2016 is the year companies should focus on taking advantage of the marketing opportunities that their competition haven’t yet quite figured out.” —Clayton Dean, Co-Founder, Circa Interactive “In your outreach and marketing for 2016, make a point to [inlinetweet prefix="" tweeter="" suffix="—via @Wrike"]connect with your customers and potential customers on a personal level.[/inlinetweet] Look for messaging and share motivations that make your story resonate with fanatics, then turn those fanatics into your own personal sales force.” —Chris Ricci, Indigenous Software “Prioritize video content in 2016. It is a great way to give your brand more of a personality. There are also a lot of great ways to promote your content through Google and Facebook that can help bring your business to new heights.” —Jason Parks, Owner, The Media Captain In data, tracking and analytics “Whether it's tracking customer behavior in a store or implementing goal funnels in Google analytics, [inlinetweet prefix="" tweeter="" suffix="—via @Wrike"]obtaining and making decisions on clean data has never been more important.[/inlinetweet] Many businesses believe their dataset is clean, but in reality the data needs to be filtered and organized to be a true vehicle for decision making.” —Orun Bhuiyan, Marketing Technologist, SEOcial “1. Evaluate how data is used to improve decision making and processes. 2. If data collection is a problem, resolution to put good collection and outreach mechanisms into place. 3. If data processing is a problem, resolution to get the right minds and systems into place. There is no organization on the face of the planet that could not better harness past experience to produce better future outcomes. Let's make that the goal for 2016.” —Trevor Ewen, Pear of the Week In talent acquisition “Improve your ability to identify and develop highly talented leaders for the future.” —Larry Sternberg, President, Talent Plus, Inc. In information security “In an age when hacking is becoming too commonplace, businesses should invest resources into safeguarding themselves and mitigating the risk of a future disaster. This may range from teaching staff about basic security practices to ensuring a website isn't vulnerable to conventional attacks.” —Orun Bhuiyan, Marketing Technologist, SEOcial What will you be focusing on in 2016? Are you taking up any of these suggested business resolutions for 2016, or has your company already set different priorities for the new year? Share your thoughts on 2016 business resolutions in the comments below!
Highlights from Web Summit 2015 in Dublin
Our CEO and founder Andrew Filev has just returned from Web Summit 2015 hosted in Dublin, Ireland. It was a super-energetic and frenetic gathering of 40,000+ people, including inspiring tech leaders and speakers from around the globe. Wrike CEO Andrew Filev being interviewed at Web Summit, Dublin A photo posted by Eliza (@e_dubs11) on Nov 7, 2015 at 4:14pm PST What Wrike Shared at Web Summit 2015 During a lively discussion at the fully packed Startup University Stage with Upwork CEO Stephane Kasriel and Fast Company contributor Ross Kingsland, Andrew spoke on hiring for startups and what’s working for today’s companies. Andrew shared insights into hiring in a very competitive environment where small startups must compete against tech giants like Facebook and Google for talent. His main piece of advice for startups: [inlinetweet prefix="" tweeter="" suffix="@wrike"]"Find what makes your company a unique and compelling proposition, and compete on that."[/inlinetweet] You may not be able outcompete Google with Google-like offerings (those snacks are pretty darn good!), but not everyone is looking for a Google-size company. Many candidates are keen to make a big difference at the early stage of a company. Determine what makes your company different and awesome, and look for people who want to be part of the vision and mission you are creating. In light of the conference, Irish Tech News published a full interview with Andrew on how to hire. You can read it here. If you attended Web Summit 2015, share your top takeaway from the conference in the comments below. We want to learn from you! Roundtable chats with @andrewsthoughts from @wrike on 'How to Hire' @WebSummitHQ #websummit #dublin pic.twitter.com/YgJ7kwFKr6 — Emer (@EmerLeBeamer) November 4, 2015 Here's @Upwork @FastCompany & @wrike talking about How to Hire in 2016. #Wexfordhour #websummit pic.twitter.com/Fpaf8N57Gk — Wexford Hour (@WexfordHour) November 3, 2015 How to hire in 2016 and beyond now with @skasriel @andrewsthoughts @RossKingsland1 #websummit pic.twitter.com/NjrutNrXKz — Marta Ghiglioni (@MartaGhiglioni) November 3, 2015 'Be ready to invest a lot of mental energy' @wrike at #websummit pic.twitter.com/cc2GMu7eVn — Denise M. Whitmore (@DolmenDigital) November 3, 2015 'You have to make sure everyone is on the same page' says @andrewsthoughts of @wrike at #websummit — Denise M. Whitmore (@DolmenDigital) November 3, 2015
2015's Hottest Industries for Tech Startups
Starting a business takes guts, brains, and dedication. But it also takes some shrewd business savvy to know exactly which markets and industries offer your best opportunity for success. You need to strike while the iron's hot if you want to edge out competitors and launch a healthy startup. Click through our latest Slideshare to learn which 10 tech industries are poised for massive growth in 2015: 10 Hottest Industries for Tech Startups in 2015 Agree or disagree? Let us know in the comments! Read Next: 7 Ways to Fund Your Startup (Infographic) Dos and Don’ts of the Startup Pitch: Expert Advice from 5 Famous Investors The Ultimate List of Legal Resources for Startups
10 Hot Industries for Tech Startups in 2015
The new year often brings fresh beginnings, career resolutions, renewed focus — and new business ventures. If you've been dreaming of becoming an entrepreneur, perhaps this is the year you've finally resolved to launch your own company. If so, be sure to take a look at these 10 industries where business is booming. 1. Internet of Things Thermostats that learn your daily habits. Wifi security cameras you control with your cell phone. Doorbells that recognize your face. The Internet of Things includes all consumer devices that connect to networks, and Gartner estimates there will be 26 billion units installed by 2020. By that time, IoT product and supplier revenue will top $300 billion. And between 2013 - 2022, the industry is projected to generate $14.4 trillion net profit globally. 2. Education Technology EdTech workers design and produce online classes, tutorials, help centers, and training programs for all levels of education, from pre-K to higher ed. In 2013, e-Learning was a $56.2 billion industry, and it will double that in 2015. The industry as a whole boasts a 4.4% annual growth rate, and cloud-based learning solutions are especially popular with a 9% growth rate. 3. Mobile Apps From addictive games and social networks to business and productivity tools, the mobile apps industry is showing no signs of slowing its upward trend. The number of downloads from the Apple App store alone has reached $85 billion, and global spending is projected to hit $35 billion in 2015. 4. Wearable Tech Smartwatches. Google Glass. Fitness trackers. Wearable technology is designed to monitor everything from our sleep cycles to our daily appointments, and the trend is spreading fast. The global wearable technology market is expected to grow a whopping 40.8% annually, becoming a $5.8 billion industry by 2018. 5. Business Apps The proliferation of mobile devices means three things: more people are working on the go, more companies are adopting "Bring Your Own Device” policies, and more organizations are embracing remote workers. All of this has led to the rise of cloud-based SaaS companies offering business apps that help teams work together from anywhere, on any device. Gartner predicts Enterprise software spending will grow 7.3% in 2015 to reach $344 billion. 6. Mobile Health Mobile Health (mHealth) involves using mobile devices and networks to support medical care in both developed and developing countries. The demand for affordable and accessible healthcare continues to grow, and more and more healthcare professionals are carrying smartphones in their pockets. As a result, the mobile health market is expected to increase from $14.5 billion in 2015 to $58.8 billion in 2020. 7. Automated Guided Vehicles Think robot forklifts. These machines automate warehousing logistics, like retrieving products to fulfill orders and preparing shipments to be loaded onto delivery vehicles. AGVs are spreading through numerous big industries, like pharmaceuticals, chemicals, food, automotive, and warehousing — essentially, any business that requires transportation of materials. 8. Digital Detectives Ever dropped your phone in the toilet? Or lost your laptop? So much data gets lost, corrupted, or stolen (just ask Sony, Target, and eBay). Digital detectives work to recover that data, or protect it from being illegally accessed. Companies that can assist investigations into phishing and bank fraud schemes or other criminal cases will be in high demand, as will the ability to recover sensitive data from jeopardized devices and networks. 9. Big Data Analytics Although big data has been a buzzword since 2010, most companies are still pretty overwhelmed by it. Tools that can help distill big data to better understand customers and inform business strategies will continue to be in high demand in the coming years. With the emerging Internet of Things, a corresponding "Analytics of Things" market will also grow, and the big data and analytics market is projected to reach $125 billion worldwide in 2015. 10. Mobile Payments It's been a long time since smartphones were primarily used to make calls. Mobile devices have become multi-tools, infiltrating nearly every aspect of our business and personal lives. The next stage of that is the convenience of digital payments. Mobile payments are projected to grow 60% worldwide through 2015, reaching 47 billion transactions. What do you think 2015 will bring for entrepreneurs? Give us your take in the comments section. 10 Hottest Industries for Tech Startups in 2015 from Wrike Related Reads: 7 Ways to Fund Your Startup Top 10 Reasons Startups Fail Sources: Cio.com.au, Docebo.com, ElearningIndustry.com, Forbes.com, Gartner.com, GlobeNewsWire.com, Inc.com, Mashable.com, PostScapes.com, Statista.com