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Ivanka Trump at the Global Entrepreneurship Summit 2017, Day 2

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Ivanka Trump started the second day of the summit with a plenary session on the issue ‘Innovations in Workforce Development and Skills Training.’ The daughter of US President Donald Trump and his chief advisor Ms. Trump,  was one of the panelists along with the MD and CEO of ICICI Bank Chanda Kochhar and British barrister and lecturer Cherie Blair. The panel was moderated by Executive Vice President and Chief Customer Officer of Dell Karen Quintos.

Hyderabad’s Hon. IT Minister Mr. K.T. Rama Rao introduced the panelists for the plenary session which was aimed at boosting female participation in innovation and improving their access to skills, training, education and career counseling. Speaking about the need for women in entrepreneurship roles, Ms. Trump said, “Women make up half of the world’s population. We need to think of these issues not as women’s issues but as human issues. Having equal gender representation is a financial positive to businesses today besides being a social responsibility.”

According to Chanda Kochhar, there is no other country in the world other than India where 40% of the banking sector is headed by women, however, not even 25% of graduate women participate in the workforce. The panel discussion was centered around creating awareness and encouraging women to take up the tremendous opportunities that technology offers entrepreneurs. “It’s the desire, support and ecosystem of the organization where women work that will help them break the glass ceiling. Recognition of work keeps us going,” Ms. Kochchar added.

Stressing on the need for men to be a part of the discussion, Dell’s CCO Karen Quintos said, “The biases that exist in society have to be addressed and men need to be a part of that conversation. Business outcomes are great when you have diverse thinking.

Founder of the Cherie Blaire Foundation, Cherie Blaire, speaking about working women said, “We have to find solutions so women can do better at what they do without giving up on their enterprises. Capacity, confidence, capital – the three things women entrepreneurs need to flourish.

Along with the captivating panel discussion regarding gender gap in entrepreneurship, GES 2017 also hosted a panel discussion on the value of mentors, sponsors and networks in maximizing entrepreneurs’ potential and driving entrepreneurship in sports. Harsha Bhogle moderated the panel discussion regarding entrepreneurship in sports with Sania Mirza, Pullela Gopichand, Mithali Raj and Chatri Sityodtong as the panelist.

The recently crowned Ms. World Manushi Chhillar also attended the summit and spoke about the importance of women entrepreneurs and the need for both men and women to be treated equally.

Despite the focus on women entrepreneur and women empowerment, a 13 year old Australian entrepreneur stole the show at the summit with his five apps. This talented app developer Hamish Finlayson is an autistic child which is a serious development disorder impairing the ability to communicate or interact. Despite the disability, this class & student from Queensland has developed an app for helping  people with autism spectrum disorder (ASD) and four more environmental apps. Hamish has strong values and hopes his apps can someday change the world for the better. But he strongly believes education comes first and saving the world later.

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Leher Versus Clubhouse: Which Audio Listening Startup Would You Choose?

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Leher Versus Clubhouse: Which Audio Listening Startup Would You Choose?,Startup Stories,Leher App Vs Clubhouse App - Which Audio Listening Startup Do You Prefer,Leher Versus Clubhouse,Leher App Vs Clubhouse App,Leher App Versus Clubhouse App,Leher,Clubhouse,Clubhouse App,Leher App,Leher App Is an Indian Alternative to Clubhouse

Clubhouse is a new type of social networking platform which is an audio only platform.  This means every conversation takes place through audio where users speak to let their thoughts known.  Users can create and host rooms where speakers will talk about a particular topic.  Originating in the Silicon Valley, Clubhouse attracted some major names onto its platform like Elon Musk, Evan Williams, Reddit co founder Alexis Ohanian, former Y Combinator President Sam Altman, AngelList co founder Naval Ravikant, Ashton Kuthcer, Oprah Winfrey, Drake, Kevin Hart and many others are some of the influential personalities who are on Clubhouse.  There is however a catch as Clubhouse is currently limited to iOS.

Leher is an Indian made alternative to Clubhouse and is a similar audio sharing and listening startup.  Leher also has video support unlike Clubhouse and is also available for both Android and iOS.  However, Leher does not have the biggest names in the world on its platform but it does have significant micro influencers and is growing at a rapid pace.  Within 180 days of its beta version launch, the company claimed to have its users spend about 44 minutes every day and 250,000 minutes per month for live video sessions.

We at Startup Stories are curious to see which among Leher or Clubhouse would our readers choose to take part in a virtual discussion.  Please let us know your answer in the poll below.

Which Audio Listening Startup Would You Choose?

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Why Are Ads On Digital Media Failing To Reach The Right Audience?

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Why Are Ads On Digital Media Failing To Reach The Right Audience?,Startup Stories,Digital Advertising,Best Practices from Digital Ads Experts,reasons for digital marketing failure in startups,Reasons Why Marketing Campaigns Fail,Why You Are Failing to Reach Your Target Customers Online,Missing your target audience,The Advertising Industry Has a Problem

If you are a regular user of social media platforms and also a fan of consuming content on the digital medium, then there is a very high likelihood that you have seen ads on pages you are reading or watching something.  There would be times when you have been targeted by an ad which feels like it was wrongly targeted at you.  Imagine if you are a vegetarian by choice and while browsing online, if you are targeted by a food delivery app which shows ads about chicken dishes.  The ad would only serve to spoil the mood of the online user instead of serving its actual purpose which is to push the user to buy a chicken dish.

These wrongly targeted ads might be the side effects of performance marketing or a weak brand marketing.  Performance marketing means advertising programs where advertisers pay only when a specific action occurs. These actions can include a generated lead, a sale, a click, and more.  Inshort, performance marketing is used to create highly targeted ads for a very specific target audience at a low cost.  Performance marketing usually means high volume for a very specific cost.  

Brand marketers on the other hand believe in narrowly defining target audiences but end up spending a lot of money on ad placements.  Gautam Mehra, CEO, Dentsu Programmatic India & CDO, Dentsu International Asia Pacific said, “You’ve defined a persona, you know the emotions you want to elicit, but then you buy a YouTube masthead and CricInfo sponsorships because IPL is up.  If brand advertisers look at audience-based buys more deeply than just placements, you will see more relevant ads (sic.)”  

ALSO READ: How Digital Marketing Is Impacted Due To The COVID-19 Pandemic

Performance marketing is more of a sales function rather than a marketing function and is about meeting the cost of acquisition.  This is a reason why budgets are usually high for performance marketing.  Mehra goes on to add, “the fact is that an engineer can out-beat FMCGs on performance marketing.  Advertisers who have cracked this are spending 10x and are on an ‘always on’ mode (unlike time-bound brand campaigns.)”

There is always the case of supply and demand, with the supply usually exceeding the demand on digital platforms.  Ultimately, it boils down to the choice between no ad versus low relevance ad and it is quite easy to guess that having a low relevance ad is better.  

Arvind R. P., Director – Marketing and Communications at McDonald’s India (West and South,) said “McDonalds’ for instance, has seen its share of spends on digital grow from 20% levels a couple of years back to over 40% at present.  Outcomes of this journey have been encouraging, proven by our media-mix-modelling and other key metrics.  We have seen best results from an optimal mix of Television plus digital (sic.)”  Moreover, Arvind also believes performance marketing only approach could turn out to be more suited to short term, versus a more consistent full funnel effort.  The latter ensures adequate emphasis on building consideration, as well as growing transactions.  Arvind feels digital is a complex medium which needs investment in the right talent who could use the right tools.  Brands which underestimate the need for the investment are often disappointed from the return on investment from the digital medium.

With the constantly changing consumer dynamics marketers are now shifting to unscripted marketing which frankly needs more insights into the consumer mindset.  The lack of marketers to do the proper research is why digital medium is plagued with irrelevant ads.

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Facebook Launches BARS For Creating Raps To Counter TikTok’s Growing Popularity

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Facebook Launches BARS For Creating Raps To Counter TikTok’s Growing Popularity

Facebook is leaving no stone unturned to tackle the surging popularity of the Chinese video making app TikTok.  As part of its redoubled efforts Facebook is launching a new app named BARS which could be used to create and share raps.  The core idea behind the app is rappers could focus on creating content without having to worry about investing heavily in production and equipment.

Facebook said, “Audio production tools can be complicated, expensive and difficult to use. With BARS, you can select one of our professionally-created beats, write lyrics and record yourself dropping bars (sic.)”  The company also added, “BARS auto-suggests rhymes as you’re writing to keep your flow going.  You can also jump into Challenge mode and freestyle with auto-suggested word cues.  Choose from a variety of audio and visual filters to take your creations to the next level (sic.)” 

The app is now available in the Apple App Store in the United States of America.  The invites for using BARS would be sent out in batches beginning in the USA and then expanded worldwide.  

This would be the second app which Facebook is launching to counter TikTok’s growing popularity.  Instagram Reels was the latest offering from the photo sharing platform Instagram (owned by Facebook) and was launched as a replacement for the video sharing application TikTok.  TikTok was enjoying an unrivalled popularity in India as it became a means to keep boredom at bay during the nationwide lockdown which was imposed in light of the COVID-19 virus. However, the Indian government announced that it would ban 59 Chinese applications in which TikTok was one, along with WeChat, Helo, Cam Scanner and many others.  This left a sudden void in video making applications, and Instagram realised the need for urgency to capitalize on this void.  Therefore, Instagram immediately pushed their latest feature Instagram Reels which lets its users create 15 second videos with music from Instagram’s database.  These videos look very similar to the ones made on TikTok and has gained a lot of popularity in India where Tik Tok continues to be banned.

ALSO READ: 4 Things To Know About Instagram Reels

Google also took advantage of the Indian Government’s ban of the viral application TikTok.  Google introduced a new feature on YouTube called YouTube Shorts.  The feature for all intents and purposes mimics the same features TikTok used to provide.  The new feature mimics many of TikTok’s most popular features, allowing users to make and post 15 second videos with built in creative tools encouraging them to add licensed music and more.

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