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Archive for November, 2023

I Fight For The Users

November 30th, 2023 No comments

If you haven’t been able to keep up with my blistering pace of one blog post per year (if that), I can’t blame you. There’s a lot going on right now. It’s a busy time. But let’s pause and take a moment to celebrate that Elon Musk destroyed Twitter. I can’t possibly say it better than Paul Ford (how could I?) so I’ll just refer you there:

Every five or six minutes, someone in the social sciences publishes a PDF with a title like “Humans 95 Percent Happier in Small Towns, Waving at Neighbors and Eating Sandwiches.” When we gather in groups of more than, say, eight, it’s a disaster. Yet there is something fundamental in our nature that desperately wants to get everyone together in one big room, to “solve it.” Our smarter, richer betters (in Babel times, the king’s name was Nimrod) often preach the idea of a town square, a marketplace of ideas, a centralized hub of discourse and entertainment—and we listen. But when I go back and read Genesis, I hear God saying: “My children, I designed your brains to scale to 150 stable relationships. Anything beyond that is overclocking. You should all try Mastodon.”

It’s been clear for a long while now that the social media strategery of “jam a million people in a colosseum and let them fight it out with free speech” isn’t panning out, but never has it been more clear than now, under the Elon Musk regime, that being beholden to the whims of a billionaire going through a midlife crisis isn’t exactly healthy for society. Or you. Or me. Or anyone, really.

I tried to be fair; I gave the post-Elon Twitter era a week, thinking “how bad could it possibly be?” and good lord, it was so much worse than I could have possibly ever imagined. It’s like Elon read the Dilbert pointy-haired-manager book on management and bonked his head on every rung of the ladder going down, generating an ever-growing laundry list of terrible things no manager should ever do. And he kept going!

It’s undeniably sad. I really liked Twitter, warts and all, from 2007 onward. In fact, it was the only “social network” I liked at all. Even when it became clear in the Trump era that Twitter was unhealthy for human minds, I soldiered on, gleaning what I could from Twitter. I’m not alone in that; Clay Shirky’s moribund signoff at the end of 2022 was about how I felt:

Indeed, Twitter was murdered at the whims of a billionaire high on Ketamine while it was (mostly) healthy, because of the “trans woke virus”.

I encourage you, all of you, to disavow Twitter and never look at it again. No one who cares about their mental health should be on Twitter at this point, or linking to Twitter and feeding it the attention it thrives on. We should entomb Twitter deep in concrete with this public warning on its capstone:

This place is not a place of honor...no highly esteemed deed is commemorated here ...nothing valued is here.

In the end, I begrudgingly realized, as did Paul Ford, that Elon unwittingly did us a favor by killing Twitter. He demonstrated the very real dangers of becoming beholden to any platform run by a king, a dictator, a tyrant, a despot, an autocrat. You can have all your content rug-pulled out from under you at any time, or watch in horror as your favorite bar… slowly transforms into a nazi bar.

I’ve been saying for a long time that decentralization is the way to go. We can and should have sane centralized services, of course, but it’s imperative that we also build decentralized services which empower users and give them control, rather than treating them like digital sharecroppers. That’s what our Discourse project is all about. I propose collective ownership of the content and the communities we build online. Yeah, it’s more work, it’s not “free” (sorry not sorry), but I have some uncomfortable news from you: those so-called “free” services aren’t really free.

Geek-and-poke-pigs-free

Which, again, is not to say that “free” services don’t have a place in the world, they do, but please don’t harbor any illusions about what you are giving up in the name of “free”. Grow up.

I take a rather Tron-like view of the world when it comes to this stuff; in the software industry, our goal should be to empower users (with strong moderation tools), not control them.

So I encourage you to explore alternatives to Twitter, ideally open source, federated alternatives. Is it messy? Hell yes it’s messy. But so is democracy; it’s worth the work, because it’s the only survivable long term path forward. Anything worth doing is never easy.

I’m currently on Mastodon, an open source, federated Twitter alternative at https://infosec.exchange/@codinghorror – I urge you to join me on the Mastodon server of your choice, or quite literally any other platform other than Twitter. Really, whatever works for you. Pick what you like.

To encourage that leap of faith, I am currently auctioning off, with all funds to benefit the Trevor Project which offers assistance to LGBTQ youth, these 10 museum quality brass plaques of what I consider to be the best tweet of all time, hands down:

(Blissfully, @horse_ebooks is also on Mastodon. As they should be. As should you. Because everything happens so much.)

If you’d like to bid on the 10 brass plaques, follow these links to eBay, and please remember, it’s for a great cause, and will piss Elon off, which makes it even sweeter:

https://www.ebay.com/itm/225895658859
https://www.ebay.com/itm/225895658395
https://www.ebay.com/itm/225895657953
https://www.ebay.com/itm/225895656856
https://www.ebay.com/itm/225895655560
https://www.ebay.com/itm/225895655243
https://www.ebay.com/itm/225895654889
https://www.ebay.com/itm/225895654391
https://www.ebay.com/itm/225895654002
https://www.ebay.com/itm/225895653408

I will sign the back of every plaque, because each one comes with my personal guarantee that it will easily outlive what’s left of Twitter.

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How to Understand Customer Needs Using Customer Success

November 30th, 2023 No comments

We operate in a business space wrought with misalignment between business objectives and customer needs. It’s fascinating to see that while 69% of business leaders are pushing more budget towards personalization, 72% don’t actually consider customer needs in their personalization.

To that end, today I thought I’d give you a quick overview of some low-effort, high-return customer success tactics to better bridge the gap between you and your clients. 

Within business and SaaS particularly, meeting customer outcomes is consistently proven to be a key driver of growth. So let’s review how you can learn, understand, and adapt to service those goals.

1. Implement feedback forms throughout your product

Implementing context-aware product feedback forms represents one of the most efficient ways to get high-impact, low-effort feedback tied to specific product functionalities. By adding these short in-product surveys, you’re:

  • Giving customers every opportunity to voice their feedback
  • Enabling an understanding of how customers feel about specific features and functionalities
  • Allowing single users to voice their unfiltered feedback without going through the account owner
  • Reassuring customers that you value their opinions
  • Reaffirming that by implementing high-value feedback and then going back to notify the original customers who provided said feedback.

Here’s an example of a feedback form from Jotform that you can use inside the product:

Source

2. Launch a voice of the customer initiative

If you want to go even further from in-product forms, you can build on those to design a full voice of the customer (VoC) program within your organization. A VoC initiative does wonders for company-wide customer success alignment, allowing you to efficiently boost retention and revenue with ease just by zeroing in on what actually matters for customers.

Here’s a breakdown of things to keep in mind for a VoC process:

One of the biggest advantages of a VoC initiative is that it keeps all relevant stakeholders in the loop and allows for increased velocity for deploying product updates. Just take a look at the simple steps of a typical voice of the customer program: 

  • gather the feedback
  • handpick the most insightful suggestions
  • forward those to stakeholders and those who can act on it
  • make related adjustments and changes
  • close the VoC loop by going back and informing the customer once you’ve reached a resolution or product update

Of course, the process will change based on your business specifics, but the core elements remain the same and can be applied at scale.

3. Proactively reach out based on account data

Proactivity is one of the great pillars of customer success. It holds customer relationships up by allowing CSMs to see potential issues before they happen.

Now, proactive engagement within SaaS can mean different things based on your engagement model and account specifics. The overall approach involves:

  • Setting up your customer success platform to monitor account activity and identify friction points.
  • Creating a trigger for your CS tool to notify you whenever those common friction points resurface for a specific customer.
  • Stepping in manually or through automation to check in with the customer and make sure they’re okay and not stuck mid-product flow.

The distinction between manual engagement and automated messages varies mostly based on the engagement model and CSM workload:

  • For high-touch SaaS, CSMs must step in manually and talk to the customer directly, preferably via their most common channel for communication.
  • For tech-touch and low-touch, automation flows can deliver solutions in a timely manner, but you should go one step further and ask customers if they’ve actually helped them or if they require the assistance of a real person.

4. Hold very high-touch onboarding and implementation meetings

For this point on our list, you need to be in that tech-touch-to-high-touch range for your engagement model. Otherwise, it may be a waste of your time and budget to attempt it for upwards of hundreds of accounts.

However, I believe high-touch onboarding to be essential when you’re in a type of business that services very demanding customers. Similarly, that’s also the case when you have a complex product or range of services. The more your customers have to work to get to their desired outcomes, the more you should be in touch with them during the onboarding stage.

Think of it like this:

  • There’s no better way to know a customer than to sit down and talk about their problems.
  • If you’re there with them as an ally in those initial stages, that relationship is only going to get better.
  • If you can ensure their product implementation works and serves their goals, they’ll easily turn into retained, ideally loyal customers.
  • The work to optimize onboarding into a positive experience will drive up your onboarding costs. However, it will also decrease your customer retention cost by a lot, so pay close attention to the balance and always remember retention is a constant effort and cost you need to support, while onboarding only happens one time per customer.

5. Use your customer success dashboards and analytics

Screenshot from Custify – CS dashboards section.

While customer success will get you far once it gets going, it won’t get nearly as far as it could without a proper customer success toolset. Here’s a list of the usual suspects for kickstarting your CS machine:

  •  A customer success platform with customizable dashboards and weighted health scores, allowing you to monitor customer activity in a goal-conscious way.
  • A comprehensive list of communications tools and channels at the ready: from email to Skype, Zoom, Slack, Discord, and anything in between. Make sure you do your research and are prepared with the appropriate channels.
  • Multiple ways for customers to request support: your SaaS users need to have ways to reach out at their disposal, from a live chat on the website and other support solutions set up and activated for their accounts.
  • A product tour solution for low-touch accounts: not every SaaS can afford lofty one-to-ones with customers during onboarding. For low-touch products and overextended teams, a product tour can mean the difference between your customers immediately churning and becoming loyal.
  • Account tools that prevent involuntary churn: a good portion of customers that leave do so passively due to expired payment options or because they simply forgot to renew. To actively prevent this, try using an account updater tool as well as dunning emails.

6. Encourage customer reviews and read what customers are saying

Last but definitely not least, you should encourage your customers to leave reviews on platforms such as G2, Capterra, and other similar ones. That way, you’re not just attracting new clients by putting the spotlight on you and growing your online presence; you can also use that feedback (which, by and large, tends to be brutally honest) to better understand customer needs and get to work improving your product.

Even if you don’t encourage customers to leave reviews, they might do so anyway. So check common review places and even the uncommon ones. Many SaaS make the mistake of ignoring reviews that don’t come through the usual channels – such as Google Maps reviews.

Summing Up

Putting customer needs ahead of your own in SaaS is not easy. Because of our bottom line and the KPIs assigned to us, it’s easy to start with what we want and try to get the customers to help us deliver. But it’s not a good way of doing business. Instead, we should actively help customers achieve their outcomes and, by extension, complete our own goals. Successful customers will always bring in more ROI than those left to their own devices – a simple 5% increase in retention rate has been shown to drive up profits anywhere between 25% and 95% (State of Customer Messaging in 2023). So, how are you making sure your customers’ needs are heard?

Featured image by Judy Beth Morris on Unsplash

The post How to Understand Customer Needs Using Customer Success appeared first on noupe.

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Beyond Banking: How Mobile Wallet Apps Are Bridging the Financial Inclusion Gap

November 29th, 2023 No comments

Financial inclusion ensures that individuals and businesses have access to useful and affordable financial products and services. These services help them meet basic needs, protect against vulnerabilities, start or expand businesses, and invest in the future. 

However, according to the findings of World Bank, about 1.7 billion adults globally remain unbanked. Most of them live in developing countries and survive on low incomes. Lack of access to financial services exacerbates poverty and inequality while constraining inclusive economic growth.

The financial inclusion imperative

Financial inclusion is especially critical for emerging economies, home to 85% of the world’s unbanked population. Expanding access to these markets carries massive socio-economic benefits. McKinsey estimates that bringing the full unbanked population online could boost GDP across all emerging markets by $3.7 trillion by 2025. Financial access empowers people to save securely, invest in health and education, manage unpredictable income flows, launch small businesses, and gain resilience against shocks – all crucial for prosperity.

However, traditional banking leaves large swathes underserved due to deficiencies in reach, cost structure, accessibility, and customer experience. This makes a compelling case for banks and NBFIs (non-banking financial institutions) in emerging markets to harness mobile phones and digital financial services to responsibly expand access.

Adopting integrated eWallets can help providers rapidly on-board customers with basic KYC, make transfers vastly more affordable via interoperable payment rails, customize experiences to local contexts, and responsibly bring unbanked groups like women, migrants, and gig workers into the formal financial system. This includes leveraging alternative data sources to qualify credit invisible based on cash flow patterns. Such initiatives aligned with account aggregation services hold the key to genuine financial inclusion at scale in emerging markets.

Financial inclusion: Challenges to overcome

Improving financial inclusion is also badly needed for sustainable development and inclusive economic growth globally. Yet many barriers still exclude large parts of the population, especially in emerging economies, from access to basic financial services. This exacerbates inequality and constrains prosperity.

Barriers that hinder financial inclusion include:

  • Lack of physical access. People in remote areas don’t have access to bank branches.
  • Affordability. Minimum balances and service fees are beyond low-income budgets.  
  • Exclusivity. People without ID proofs or credit histories don’t qualify for accounts.
  • Low awareness and trust. Many doubt traditional banks serve the interests of common people.

However, digital financial services delivered via mobile phones can help bridge these gaps at an immense scale across emerging markets. Solutions like mobile wallets, payment rails, and agent networks can circumvent traditional barriers around cost, documentation, distance, and trust to promote inclusion.

Realizing this potential requires coordinated efforts between banks, NBFIs, governments, regulators, mobile operators, and fintech partners. By working together, they can build seamless enablers to expand the reach and capabilities of mobile-powered financial services. The result will be bringing billions more individuals and micro, small, and medium enterprises into the inclusive umbrella of responsible digital finance.

Digital Technologies Offer a Solution

Recent advances in digital technology provide an opportunity to rapidly expand financial inclusion. Smartphones, mobile internet connectivity, biometrics, big data analytics, blockchain, and cloud computing can circumvent traditional barriers.

Particularly impactful are mobile money wallets that let users store, send, and receive funds via basic mobile phones. Launched around 2007 in Kenya, such services took off globally this past decade. As per the GSMA State of the Industry Report on Mobile Money:

  • The number of registered mobile money accounts grew by 43 million globally in 2021 to surpass 1.35 billion. 
  • The total value of transactions hit $1.1 trillion, up 20% from 2020.
  • Sub-Saharan Africa accounted for the most growth, reaching 548 million accounts. However strong uptake continued in South Asia, Latin America, and MENA.

This positions mobile wallets as a potent solution for driving financial inclusion in populous emerging markets.

How Mobile Wallets Bridge the Inclusion Gap

Mobile wallets help underserved people enter the formal financial system in several ways:

  1. Easy Sign-up
  • Opening a mobile wallet only requires a basic mobile phone and SIM card. No paperwork or credit checks are involved.
  • Mobile operators leverage existing data for digital KYC during activation. This eases entry for those without IDs.
  1. Accessible Payments
  • Users can transfer money, pay bills, and shop digitally via basic USSD menus or starter apps.
  • Being network-based, wallets work on all types of phones. Agents assist new users unfamiliar with menus.
  1. Affordable Services 
  • Transacting via mobile wallets costs a fraction of using cash or bank transfers.
  • Most wallet apps allow micropayments, micro-savings, and microinsurance for people with irregular incomes.
  1. Localized Experience
  • Wallet apps now support multiple languages and voice assistance for wider adoption.
  • User workflows mirror local payment practices rather than bank transfer norms.
  1. Impact on Financial Inclusion

An IFC survey covering 5 Sub-Saharan countries found that access to mobile money services significantly improved financial resilience:

  • 53% of female survey respondents reported increased financial autonomy and safety.
  • 65% could now make emergency payments during income shocks or disasters.  
  • 15% of enterprises increased wages and hired more employees.

As this data shows, mobile wallets empower underserved communities in line with key financial inclusion goals like gender equality, resilience to poverty, and enabling entrepreneurship.

Challenges in Scaling Mobile Wallets

While mobile wallets dramatically boost financial access, some barriers slow their growth:

  1. Need for smartphone compatibility. Feature phones still dominate emerging markets. Entry-level wallet apps need to add robust smartphone experiences.
  2. Dependence on mobile operator distribution. Telco exclusivity limits interoperability. Third parties should be allowed to harness the technology.
  3. Security and compliance concerns. Rapid user growth makes wallets vulnerable to cyber fraud and money laundering. Robust safeguards are essential.
  4. Viability beyond cash-in and P2P payments. Adding value-added services can grow revenue streams beyond commissions on deposits and transfers.

What does the future hold for banking and mobile wallet apps? 

The mobile wallet revolution has come a long way in a decade but remains a work in progress. Some developments to watch for:

  • Growth of financial super-apps. Super-apps like Grab, Gojek, Paytm, and M-Pesa go beyond payments to aggregate services ranging from lending to insurance. Their scale can profitably expand financial access.
  • Global interoperability. Systems like Mowali enable mobile money interoperability across geographies. Seamless global money movement can accelerate financial inclusion.
  • Central bank digital currencies. Government-backed digital currencies aim to make digital payments universal. Policy coordination is needed to synergize CBDCs with mobile wallets.  
  • Banking as a service model. Open API infrastructure gives third-party managed access to bank capabilities. This allows nonbanks to use bank-grade rails to enhance mobile wallet security, speed, and versatility.

Conclusion

Mobile wallets have already delivered a seismic shift in financial inclusion over the past decade. And the technology still holds immense disruptive potential to achieve universal financial access.

Realizing this would require coordinated efforts between banks, governments, mobile operators, and technology partners. Working together, they can maximize wallets’ coverage, capabilities, and interconnectedness at scale.

The result will be bringing billions more individuals and micro, small, and medium enterprises into the inclusive umbrella of digital financial services. This can significantly contribute to global targets around alleviating poverty, boosting prosperity, and promoting equality.

Featured image by Emil Kalibradov on Unsplash

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Smart Ideas to Boost Your Real Estate Business in 2024 and Beyond

November 28th, 2023 No comments

The real estate market has always been seen as a very competitive arena. These days, though, when we are still experiencing the effects of the post-pandemic boom, endless technical innovation that put this sector on a very fast track, and overall scarcity of housing options these claims feel more true than ever in recent years.

All these things mean that the real estate companies who want to stay afloat will need to shake up their strategies and attack the market head-on.

But, you know who they say – if you want to succeed you need to work smarter and not necessarily harder. And that is what this article is all about. Let us take a look then at some of the smart ways to boost your real estate business in 2024 and turn your company into a force to be reckoned with.

Look for more obscure, off-market properties

Yes, as we said, the real estate market is truly competitive, but the moment when it truly turns into a grind is when properties enter the wider market usually through regular channels like Zillow or MLS. Your goal should be to look for off-market properties (the so-called pocket listings) and be the one to make the first offer. These requirements take a lot of footwork and good connections. So, it is best to make a plan for both these requirements, break them up into measurable goals, and start working as soon as possible. Once you lay down the foundations uncovering new gems will take less time.

Streamline the communication channels

People don’t like to waste time, especially when they are plowing through countless listings and staying in touch with several real estate services. That is why you need to keep your communication channels streamlined, effective, and on-point. Start by overhauling your website and hesitate to use tried and true resources like customized WordPress themes. Leveraging chatbots that will keep the conversation going 24/7 is not a bad idea, either. Also, be quick to respond to messages and keep your social media profiles active. If necessary, hire additional staff to handle these critical obligations.

Tap into the niche markets

This was always one of the easiest ways to get access to more focused groups that are incredibly motivated and easier to convert. In order to discover these niches you will, however, need to pull off a short market research. But even if you take a brief look at the current offer of apartments for rent you will see the luxury and sustainable properties are picking up a lot of traction. The rise of remote workforce signals that the rural properties as well the apartments with built-in co-working spaces will experience a similar boost. So, focus on such small niches and try to become the dominant force in them.

Image by Freepik

Educate the audience

You will do that by starting a blog about the real estate market, including FAQ sections for your website, engaging in content marketing, and so on. This simple move will create numerous benefits. For a start, you will turn your brand from yet another online listing to a place where people come to learn. This will, in turn, open the way for new conversions. Second, you will transform your brand and give it a new, more authoritative position in the market. Third, you will start nurturing an educated pool of consumers who may find more value in your services. All these perks are simply invaluable.

Stage the properties to be more welcoming

Now, this trick is old. But, it’s so old people started paying very little attention to it. Be that as it may, sparking the curiosity of potential buyers and renters by presenting the property through various use case scenarios does create a strong emotional connection. And emotional states have a very strong effect on purchase decisions. But, don’t go overboard. The clients should be presented with options that spark imagination. You don’t want to imprint your ideas on them or you may break the illusion. Also, make the properties clutter-free. Nobody wants to see others’ stuff in their future home.

Encourage positive reviews and referrals

People tend to put most trust in the opinions of their peers. That is why you should do everything in your power to encourage positive reviews and referrals. In the first case, you can use website prompts and offer some small incentives for clients who post their opinions. Referral programs are a bit more complicated since you are selling goods with high turnaround. But, offering referral gifts, giving exclusive offers, using branded materials, and requesting referrals on your site should help you pass these hurdles. Be sure, though, to follow up with all leads even if they are not prospective.

Prioritize your customers’ needs

Last but not least, we would like to point out that, when dealing with competitive markets, real estate businesses usually tend to make things more streamlined for them. You should go the other way around and prioritize the needs of your clients at every single instance of the sales funnel. So, put more effort into customer care and deal with increased workload with better scheduling and time management. This method will not turn the fortunes of your company overnight but it will bear fruits in the long run. This level of attention will also open the way for a higher number of repeat sales.

We hope these couple of suggestions gave you a better idea about the strategies you can use to make your real estate company leaner, more proactive, and overall more effective. As we can see, very few of these ideas require heavy investment – in most of the cases you will simply need to refocus your existing resources. But, these small changes can make all the difference in the world in terms of your performance. So, roll up your sleeves and start the overhaul now.

Featured Image by gpointstudio on Freepik

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Navigate The AI Chatbot Landscape With ChatGPT And Its Rivals

November 28th, 2023 No comments

ChatGPT entered the digital world like a tornado. To some, it felt like it came out of left field. Users were utterly surprised by its relevance and the efficiency it brought into people’s lives. 

But one thing’s for sure. It’s changed the internet and tedious workflows forever. 

Marketers can now generate ad copy and brainstorm social media content (even create a full-month content calendar) with a few simple clicks and a prompt. Combined with the abundance of no code tools out there, ChatGPT can do wonders for any workflow.

However, in the rapidly evolving landscape of artificial intelligence, ChatGPT comes with its own limitations. For instance, it can’t source information from the internet without the help of a plugin. 

That’s why we’ve curated a list of ChatGPT alternatives to help you find the right technology to improve your most mundane workflows. 

Let’s dive in. 

1. Microsoft Bing

Microsoft Bing enables smarter web search and AI-generated responses

(Image Source)

Internet browsers can advance their search with Microsoft’s Bing AI chatbot to get concise, AI-generated responses. This tool is powered by GPT-4, and it provides advanced responses in three major styles:

  • Creative: The primary focus is storytelling.
  • Precision: The goal is to provide more accurate information.
  • Balanced: Unlock the balance between creative and precise.

Microsoft’s Bing AI is on a journey to redefine the search experience, making it more personalized, relevant, and intelligent. The goal? To beat out Google Bard with a wide range of features. 

Key Features:

  • Bing Chat lets you frame answers, ask follow-up questions, ask summaries, and make comparisons.
  • Bing Compose generates AI-based texts to help you draft emails, speeches, poems, short stories, and blog posts.
  • Bing AI provides real-time weather updates and news based on a user’s search.

Pros:

  • Offers advanced features like spell correction, image search, and entity recognition.
  • It comes with an easy-to-use and install API.

Cons:

  • The response time is relatively slow.
  • It generates fewer search results compared to Google.

2. ChatSonic

ChatSonic, a ChatGPT alternative to generate high-quality and contextual content

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ChatSonic, an advanced AI tool, is a good alternative to ChatGPT as it creates hyper-relevant and high-quality content in collaboration with Google search. It’s powered by GPT-4 artificial intelligence technology, so it’s less prone to errors. 

This tool is also efficient at creating image-based content on command.

Key Features:

  • Allows voice-based conversation and can generate images, PDF, or Word documents.
  • Offers an extensive prompts library with 1000 experts and community-vetted prompts.
  • It lets you craft digital art with Chatsonic’s AI image-generation feature.

Pros:

  • Easy access to up-to-date and factual content creation.
  • It provides user-friendly collaboration capabilities.

Cons:

  • The voice commands feature sometimes misinterprets the commands.
  • Can’t catch the user’s expected tone or voice.
  • It’s not as accurate as other tools on the list.

3. Jasper AI

Jasper AI is a writing assistant that lets you automate content creation

(Image Source)

Often, chatting with artificial intelligence tools feels difficult and robotic. But with Jasper Chat, these conversations with AI feel human. It keeps it simple and fun. 

Command your friendly AI-powered chatbot to generate ideas, rephrase your content, or even tell a joke.

Key Features:

  • An AI-powered chat that also offers plagiarism detection.
  • It provides rich text editing and speech recognition.

Pros:

  • It’s user-friendly and responds faster.
  • Integrates with G-Suite, Zapier, Make, Webflow, and writing assistants like Grammarly and SurferSEO.

Cons:

  • It has an overwhelming design compared to other software like Writesonic.
  • Sometimes, it shows irrelevant information.

4. Copy.ai

Copy.ai enhances your content creation process

(Image Source)

Copy.ai provides a comprehensive solution for sales and marketing virtual assistants. This tool is perfect for marketers who want to enhance their content creation process and speed up their processes.

For example, you can generate content ideas and captions for social media posts to elevate your social media content planning.

Key Features:

  • Guarantees a consistent brand identity in your AI-generated content with the Brand Voice feature.
  • Helps analyze and refine ?writing prompts to speed up content ideation.
  • Reuses important data by adding texts or uploading files to Infobase.

Pros:

  • It provides top-notch AI-generated content compared to other software.
  • It has a user-friendly interface.
  • It’s highly customizable.

Cons:

  • Sometimes, it generates inaccurate copy.
  • Comes with a learning curve.
  • Pricing isn’t competitive.

5. OpenAI Playground

OpenAI Playground is a ChatGPT alternative powered by GPT-3 technology

(Image Source)

OpenAI Playground is an online platform powered by a diverse set of models (GPT-4, GPT-3.5, GPT-3) for developers, researchers, and anyone interested in exploring the world of OpenAI language models.

Though this tool works like ChatGPT, it provides much more advanced options.

Key Features:

  • Allows the user to adjust the settings and preferences of the chatbot.
  • Handles different formats of inputs like writing a poem, summarizing documents, translating a sentence, etc.

Pros:

  • Provides different types of language models to choose from.
  • Lets you upload audio commands
  • Has a good accuracy level
  • Offers great flexibility.
  • Fast response times.

Cons:

  • Faces glitches when ?demand and usage are high.
  • Training data cuts off in 2021. 

6. YouChat

YouChat is a ChatGPT alternative powered by GPT-4

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YouChat is an AI chatbot by You search engine. The GPT-4 model powers this chatbot and can be used for various purposes, such as asking questions, getting information, and even for education or entertainment. 

This application is continuously improved and updated to enhance its user experience.

Key Features:

  • Provides citations, multimodal search, and real-time data.
  • Conducts conversational web searches like Google.

Pros:

  • It comes with intuitive and quick online searches.
  • It responds quickly and is up-to-date.
  • It provides free access.

Cons:

  • Doesn’t give citations and source links for every answer generated.
  • Doesn’t provide AI-generated images.
  • Integrated with limited applications.

7. Perplexity AI

Perplexity AI is a free tool powered by OpenAI's GPT

(Image Source)

Perplexity AI is another straightforward alternative chatbot to ChatGPT. Its intelligent search engine offers exact and complete responses to the user’s queries. 

Perplexity AI provides up-to-date information in real time. OpenAI’s GPT powers this tool and offers GPT-4 for its paid users.

Key Features:

  • Comes with contextual awareness, delivering more relevant and accurate information.
  • Cites all the information with URLs to provide the answer.

Pros:

  • It comes with a mobile app that features voice search, supports numerous languages, and allows the saving and sharing of questions and answers.
  • It allows you to do follow-up queries with an AI chatbot.
  • It comes with a friendly and intuitive user interface.
  • It provides source links.

Cons:

  • Doesn’t have previously generated responses.
  • Experiences plagiarism issues.

Speed Up Your Workflow with ChatGPT Alternatives

AI chatbots like ChatGPT have transformed how people work.

Although ChatGPT has opened the doors to a much more efficient workflow, it can’t deliver everything you need to streamline your workflow.

So, choose the right ChatGPT alternative from the list of tools we shared with you above and speed up your work processes. As they say, work smarter, not harder!

Featured Image by Mohamed Nohassi on Unsplash

The post Navigate The AI Chatbot Landscape With ChatGPT And Its Rivals appeared first on noupe.

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Crafting A Killer Brand Identity For A Digital Product

November 28th, 2023 No comments

It may seem obvious to state that the brand should be properly reflected and showcased in all applications, whether it is an app, a website, or social media, but it’s surprising how many well-established businesses fall short in this regard. Maintaining brand consistency can be a challenge for many teams due to issues like miscommunication, disconnect between graphic and web design teams, and management missteps.

Establishing a well-defined digital brand identity that includes elements like logos, typography, color palettes, imagery, and more ensures that your brand maintains a consistent presence. This consistency not only builds trust and loyalty among your customers but also allows them to instantly recognize any of your interfaces or digital communication.

It’s also about creating an identity for your digital experience that’s a natural and cohesive extension of the overall visual style. Think of Headspace, Figma, or Nike, for example. Their distinctive look and feel are instantly recognizable wherever you encounter them.

Maintaining visual consistency also yields measurable revenue results. As per a Lucidpress survey, 68% of company stakeholders credit 10% to more than 20% of revenue growth to the consistency of their brand. This underscores the significance of initiating and integrating design systems to promote brand consistency.

Brand Strategy

In an ideal world, every new product would kick off with a well-thought-out brand strategy. This means defining the vision, mission, purpose, positioning, and value proposition in the market before diving into design work. While brand strategy predominantly addresses intangible aspects, it’s one of the fundamental cornerstones of a brand, alongside visuals like the logo and website. Even with stunning design, a brand can stumble in the market if its positioning isn’t unique or if the company is unsure about what it truly represents.

However, let’s face it, we often don’t have this luxury. Tight timelines, limited budgets, and stakeholders who might not fully grasp the value of a brand strategy can pose challenges. We all live in the real world, after all. In such cases, the best approach is either to encourage the stakeholders to articulate their brand strategy elements or to work collaboratively to uncover them through a series of workshops.

Defining a brand’s core strategy is the crucial starting point, establishing the foundation for future design work. The brand strategy serves as a robust framework that shapes every aspect of a brand’s presence, whether it be in marketing, on the web, or within applications.

Brand Identity Research

The research phase is where you unearth the insights to distinguish yourself in the vast arena of competitors. By meticulously analyzing consumer trends, design tendencies, and industry landscapes, you gain a deeper understanding of the unique elements that can set your brand apart. This process not only provides a solid foundation for strategic decision-making but also unveils valuable opportunities for innovation and differentiation.

Typically, the research initiates with an analysis of the brand’s existing visual style, especially if it’s already established. This initial exploration serves as a valuable starting point for team discussions, facilitating a comprehensive understanding of what aspects are effective and what needs refinement.

Moving on, the next crucial step involves conducting a comprehensive industry analysis. This process entails an examination of key brand elements, such as logos, colors, and other design components utilized by competitors. This step serves as the strategic guide for making precise design decisions.

When performing industry analysis as part of brand research, aim for specificity rather than generic observations. For instance, when crafting a brand identity for a product brand, a focused investigation into app icon designs becomes imperative. The differentiation of colors among various apps emerges as a potent tool in this endeavor. According to a study conducted by the Pantone Color Institute, color plays a pivotal role, boosting brand recognition by a substantial 80%.

Moreover, it’s essential to consider app icon designs that, while not directly competitors, are ubiquitous on most phones (examples include Google apps, Chrome/Safari, Facebook, Twitter, and so on). It’s crucial that your app icon stands out distinctly, even in comparison to these widely used icons.

To bring in more innovation and fire up creativity in future designs, it’s a good call to widen your scope beyond just your competition. For instance, if sustainability is a core value of the brand, conducting a thorough examination of how brands outside the industry express and visually communicate this commitment becomes pivotal. Similarly, exploring each value outlined in the brand strategy can provide valuable insights for future design considerations.

A highly effective method for presenting research findings is to consolidate all outcomes in one document and engage in comprehensive discussions, whether in-house or with the client. In my practice, research typically serves as a reference document, offering a reliable source for revisiting and reassessing the uniqueness of our design choices and verifying alignment with identified needs. It’s also a perfect argument point for design choices made in the following phase. Essentially, the research phase functions as the guide steering the brand toward a distinctive and unique look and feel.

Brand Identity Concepts

Now, to the fun part — crafting the actual visuals for the brand. A brand concept is a unifying idea or theme. It’s an abstract articulation of the brand’s essence, an overarching idea that engages and influences the audience. Brand concepts sometimes come up organically through the brand strategy; some of them need elaborate effort and a deep search for inspiration.

There are various methods to generate unique brand ideas that seamlessly connect brand strategy, meanings, and visuals.

The ultimate goal of any brand is to establish a strong emotional connection with users, which makes having a powerful brand idea that permeates the identity, website, and app crucial.

  • Mind mapping and association
    This is a widely used approach, though it looks quite different between various creatives. Start with a diagram listing the brand’s key attributes and features. Then, build on these words with your associations. A typical mind map for me is like a tangled web of brand values, mission, visual drafts, messaging, references, and sketches, all mixed in with associations. Try to blend ideas from totally different parts of the mind map. For example, in the design of an identity for a database company, contrary segments of the mind map may include infinity symbols and bytes. The combination of these elements results in a unique design scalable to both the brand symbol and identity.

  • Reversal
    Sometimes, a brand calls for an unexpected symbol or even a mascot that doesn’t have direct ties to the industry, for example, using a monkey as the symbol for a mailing platform or a bird for a wealth management app. Delving into the process of drawing parallels between unrelated objects, engaging all our senses, and embracing a creative and randomized approach helps to generate fresh and innovative concepts.
  • Random stimuli
    There are instances when tapping into randomness can significantly boost creativity. This approach may involve anything from AI-generated concepts to team brainstorming sessions that incorporate idea shuffling and combinations, often resulting in surprising and inventive ideas.

  • Real-world references
    Designers can sometimes find themselves too deeply immersed in their design bubble. Exploring historical references, natural patterns, or influences from the tangible world can yield valuable insights for a project. It’s essential not to confine yourself solely to your workspace and Pinterest mood boards. This is particularly relevant in identity design, where these tangible parallels can provide rich sources of inspiration and meaning.

Imagine I’m crafting an identity for the adventure tours app. The last place to seek inspiration from is other tour companies. Why? Because if the references are derivatives, the work will be too. Begin at the roots. Adventure tours are all about tapping into nature and connecting with your origins. The exploration would kick off by delving into the elements of nature. What sights, smells, sounds, and sensory details do these adventures offer?

That’s the essence that both clients and non-designers appreciate the most — finding tangible connections in the real world. When people can connect not just aesthetically but also emotionally or intellectually to the visuals, they become much more loyal to the brand.

Condense your design concept and ideas to highlight brand identity across diverse yet fitting contexts. Go beyond conventional applications like banners and business cards.

If you’re conceptualizing brand identity for restaurant management software, explore ways to brand the virtual payment card or create merchandise for restaurant employees. When crafting a style for a new video conferencing app, consider integrating the brand seamlessly into commonly used features, such as the ‘call’ button, and think of a way to brand the interface so that users can easily recognize your app in screenshots. Consider these aspects as you move through this project phase. Plus, taking a closer look at the industry can spark some creative ideas and bring a more down-to-earth feel to the concept.

Once the core brand visual concept gains approval and the general visual direction becomes clear, it’s time to create the assets for the brand application. It’s essential to note that no UI work should commence until the core brand identity elements, such as the logo, colors, typography, and imagery style, are developed.

Brand Identity Design And Key Assets For A Digital Product

Now, let’s delve into how you actually apply the brand identity to your interfaces and what the UI team should anticipate from the brand identity design team. One key thing to keep in mind is that users come to a website or app to get things done, not just to admire the visuals. So, we need to let them accomplish their tasks smoothly and subtly weave our brand’s visual identity into their experience.

This section lists assets, along with specific details tailored for digital applications, to make sure your UI colleagues have all they need for a smooth integration of the brand identity into the digital product.

Logo

When crafting a logo for a digital product, it’s essential to ensure that the symbol remains crisp and scalable at any dimension. Even if your symbol boasts exceptional distinctiveness, you’ll frequently require a simplified, compact version suitable for mobile use and applications like app icons or social media profile pictures. In these compact logo versions, the details take on added prominence, with negative space coming to the forefront.

Additionally, it’s highly advisable to create a compact version not just for the symbol but also for the wordmark. In such instances, you’ll typically find a taller x-height, more open apertures, and wider spacing.

One logo approach is pairing a logotype with a standalone symbol. The alternative is to feature just the logotype, incorporating a distinctive detail that can serve as an app icon or avatar. The crucial point is to maintain a strong association with the main logo. To illustrate this point, consider the example of Bolt and how they ingeniously incorporated the negative space in their logo to create a lightning symbol.

Another factor to take into account is to maintain square-like proportions for your logomark. This ensures that the logomark can be seamlessly integrated into common digital applications such as app icons, favicons, and profile pictures without appearing awkward or unbalanced within these placeholders. Ensure your logomark isn’t overly horizontal or vertical to maximize its impact across all digital platforms.

The logo and symbol are core assets of any digital brand. Typically, the logotype letter shapes take roots from the primary font.

Typography

Typography plays a pivotal role in shaping a brand’s identity. The selection of a typeface is particularly crucial in the brand identity design phase. Unfortunately, the needs of the UI/UX team are sometimes overlooked by the brand team, especially when dealing with complex products. Typography assets can be categorized into several key components:

Primary Font

Choosing the right typeface can be a challenging task, and finding a distinctive one can be even trickier. Beyond stylistic elements like serifs, non-serifs, and extended or condensed styles, selecting a primary font for a digital product involves considering various requirements. Questions to ponder include the following:

  • How many languages will your product support?
  • Will the brand use special symbols such as arrows, currency symbols, or math symbols?
  • What level of readability will the headings need, and what will be the smallest point size the headings are used at?

Body Font

Selecting the body font for a digital product demands meticulous attention. This decision can significantly impact readability and, as a result, user loyalty, especially in data-rich environments like dashboards and apps that contain numerals, text, and spreadsheets. Designers must be attentive and responsible intermediaries between users and data. Factors to consider include the following:

  • Typeface’s x-height,
  • Simplified appearance,
  • Legibility at small sizes,
  • Low or no contrast to prevent readability issues.

Fonts with large apertures and open shapes are preferable to keep similar letters distinct, such as ‘c’ and ‘o’. Increased letter spacing can enhance legibility, and typefaces should include both regular and monospaced digits. Special symbols like currency or arrows should also be considered for the brand use.

Fallback fonts

In the realm of digital branding, there will be countless situations where you may need to substitute your fonts. This can include using a body font for iOS or Android apps to save on expensive licensing costs, creating customizations for various countries and scripts, or adapting fonts for other platforms. The flexibility of having fallback fonts is invaluable in ensuring consistent brand representation across diverse digital touchpoints.

Layout Principles

Typography isn’t just about choosing fonts; it’s also about arranging them to reflect the brand uniquely. Employing the same fonts but arranging them differently can distort the brand perception.

Getting the right layout is all about finding that sweet spot between your brand’s vibe and the ever-changing design scene.

When crafting a layout, one can choose from various types that translate different brand voices. Grid-based layouts, for instance, leverage a system of rows and columns to instill order, balance, and harmony by organizing and aligning elements. Asymmetrical layouts, on the other hand, rely on contrast, tension, and movement to yield dynamic and expressive designs that command attention. Modular layouts utilize blocks or modules, fostering flexibility and adaptability while maintaining variety, hierarchy, and structure. Choosing one of the types or creating a hybrid can effectively convey your brand identity and message.

Attention to technical details is crucial, including line spacing, consistent borders, text density, and contrast between text sizes. Text alignment should be clearly defined. Creating a layout that accurately represents your brand requires applying design principles that designers intuitively understand, even if others may sense them without articulating why.

Color

Color is undoubtedly one of the most significant elements for any identity, extending beyond products and digital realms. While a unique primary color palette is vital, it is important to recognize that color is not just an aesthetic aspect but a crucial tool for usability and functionality within the brand and the product. This chapter highlights key areas often overlooked during the brand design process.

  • Call to Action(CTA) Color
    Brand designers frequently present an extensive palette with impressive color combinations, but this can leave UI designers unsure of the appropriate choice for Call to Action (CTA) elements. It is imperative to establish a primary CTA color at the brand identity design phase. This color must have a good contrast both with light and dark backgrounds and does not unintentionally trigger associations, such as red for errors or yellow for alerts.
  • Contrast
    Brand identity tends to have more flexibility compared to the strict industry standards for legibility and contrast in screens and interfaces. Nevertheless, brand designers should always evaluate contrast and adhere to WCAG accessibility standards, too. The degree of contrast should be determined based on factors like target audience demographics and potential usage scenarios, aiming for at least AA compliance. Making your product accessible to all is a noble mission that can enhance your brand’s meaning.

  • Extended Color Palette
    To effectively implement color in user interfaces, UI designers need not only the primary colors but also various tints of these colors to indicate different UI statuses. Semantic colors, like red for caution and green for positive connotations, are valuable tools for emphasizing critical elements or providing quick visual feedback. Tints of CTA colors and other hues are essential for indicating states such as hover, click, or visited elements. It’s preferable to define these nuanced details in the brand identity guideline. This ensures the uniform use of the same colors, whether in marketing materials or the product interface.

  • Color proportions and usage
    The proportion and use of colors have a substantial impact on how a brand is perceived. Usually, the brand’s primary color should serve as an accent rather than dominate most layouts, especially in the interface. Collaborating with UI colleagues to establish a color usage chart can help strike the right balance. Varying the proportions of colors creates visual interest and allows you to set the mood and energy level in a design or illustration by choosing dominant or accent colors wisely.

  • Color compensation
    Colors may appear differently on dark and light backgrounds and might lose contrast when transitioning between dark and light themes. In the modern context of platforms offering both dark and light UI versions, this factor should be considered not only for interface elements but also for logos and logomarks. Logos designed for light backgrounds typically have slightly higher brightness and saturation, while logos for dark backgrounds are less bright.

Color leads to another component of brand identity — the illustration style — where its extensive application in various shades plays a significant role both emotionally and visually.

Scalable Illustration System

An illustration style includes pictograms, icons, and full-scale illustrations. It’s important to keep the whole system intact and maintain consistency throughout the project, ensuring a strong connection with the brand and its assets. This consistency in the illustration system also enhances the user interface’s intuitiveness.

In the context of an illustration system, “style” refers to a collection of construction techniques combined into a unified system. Pictograms and icon systems are made of consistent and reusable elements, and attention to detail is crucial to achieving uniformity. This includes sticking to the pixel grid, ensuring pixel precision, maintaining composition, using consistent rounding, making optical adjustments for intersecting lines, and keeping the thickness consistent.

Stylistically, illustrations can employ a broader arsenal compared to icons, utilizing a wider range of features such as incorporating depth effects, a broader color palette, gradients, blur, and other effects. While pictograms and icons serve more utilitarian purposes, illustrations have the unique ability to convey a deeper emotional connection to the brand. They play a crucial role in strengthening and confirming the brand message and positioning.

The elements discussed in the article play a vital role in enabling the web team to craft the UI kit and contribute to the brand’s success in the digital space. Supplying these assets is the critical minimum. Ensure that all components of your brand are clearly outlined and explained. It’s advisable to establish a guideline consolidating all the rules in one workspace with UI designers (commonly in Figma), facilitating seamless collaboration. Additionally, the brand designer should oversee the UI kit used in interfaces to ensure alignment with all identity components.

Uniform Mechanism

Your digital brand should effectively communicate your broader brand identity, leaving no room for doubt about your values and positioning. The brand acts as the cornerstone, ensuring consistency in the digital product. A well-designed digital product seamlessly integrates all its components, resulting in a cohesive user experience that enhances user loyalty.

Ensure you maintain effective communication with the UI team throughout the whole project. From my experience, despite things appearing straightforward in the brand guidelines and easy to implement, misunderstandings can still occur between the brand identity team and the UI team. Common challenges, such as letter spacing in brand typography, can arise.

The consistent and seamless integration of brand elements into the UI design ensures the brand’s effectiveness. Whether you have a small or large design team, whether it’s in-house or external, incorporating branding into your digital product development is crucial for achieving better results. Remember, while a brand can exist independently, a product cannot thrive without branding.

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3 Essential Design Trends, December 2023

November 27th, 2023 No comments

While we love the holidays, too much of a seasonal theme can get overwhelming. Thankfully, these design trends strike a nice balance.

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10 Easy Ways to Make Money as a Web Designer

November 24th, 2023 No comments

When you’re a web designer, the logical way to make money is designing websites; you can apply for a job at an agency, work in-house at a large company, or become a freelance designer selling on sites like Upwork or Fiverr.

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An Essential Guide to Membership Management Systems for Organizations

November 24th, 2023 No comments

Many businesses around us operate on the membership management business model. Spas, gyms, fitness centers, eLearning platforms, and community management organizations all need to manage their customers as members. When it comes to community members, organizations need membership management systems. 

In this article, we will help you understand why membership management software is important for any business.

What Is a Membership Management System?

Businesses like gyms, clubs, and fitness centers that need to manage members have different business processes. To manage these processes seamlessly, SaaS companies have introduced membership management software. This software acts as a central system to manage billing, payments, and records of all members.

These systems also include features like a member database, payment processing, automated renewals, event management tools, and communication channels, providing organizations with a cohesive and organized approach to overseeing their membership base. By automating routine tasks and consolidating data, MMS empowers organizations to focus on fostering member engagement, improving communication, and ultimately, driving the success of their community or group.

Key Features of Membership Management Systems

A number of elements are included in Membership Management Systems (MMS) in order to streamline and improve the administration of organizational memberships. It is vital for organizations seeking to optimize their membership management procedures to comprehend these fundamental elements:

Member Database

The most important feature that any membership business needs is the management of data. On this, no business can compromise. So, membership management software offers data security. It helps keep customer data secure. Also, membership management software is mostly cloud-based, and the cloud has its own security mechanism to help users keep the data of all members secure and encrypted. 

Payment Processing

Doing payment processing accurately is very important for membership businesses. Just like any other business, membership businesses need to do billing as well as payment processing. Top payment gateways are integrated with the membership management system so that payments can be processed with ease. Today, even more than one payment gateway is integrated with the Membership Billing and Management software so that if one payment gateway is somehow not working, then the other one can process payments and there may not be any hurdles in the process. 

Automated Renewals

Gyms, salons, fitness centres etc. when offer memberships, they offer monthly, weekly, or yearly programs. When this time period ends, they look for a system that can help them renew membership programs for their members. So, membership management systems allow them to do that seamlessly. 

Event Management Tools

Members are more like communities. Gyms and fitness centers that offer memberships need to conduct certain events to keep their community of members engaged. Membership management software offers features to conduct and manage such events. Even tools to manage events can be integrated with the Gym Membership Management System. For instance, there are various calendar applications and tools that can be integrated with membership software to manage dates of events throughout. 

Communication Channel

All businesses that cater to members need to engage with their members continuously. This membership engagement helps them retain their members for a longer duration. And the base of engagement is the channel that you use for communication with your customers. Membership management software offers you communication channels so that you may engage better your customers. 

Future Trends in Membership Management Systems

Technology is changing rapidly. Membership management systems are part of this tech world so it is important to know future trends that can help you thrive better.

Artificial Intelligence (AI) Integration

Today, all businesses are looking forward to incorporating AI so that they can stay progressive and they may not be left out of the changing trends in the digital arena. Club membership management systems can also integrate with AI algorithms. If you opt for one such membership management software, the chances to grow and stay ahead increase in the long run.

Mobile First Solutions

In the rapidly changing landscape of Membership Management Systems, an important trend is the shift towards mobile-first solutions. After identifying the increasing reliance on smartphones for daily activities, membership management systems are adapting to provide members and administrators with on-the-go accessibility. Mobile-first interfaces prioritize responsive design and intuitive navigation, ensuring that users can effortlessly engage with the system from their mobile devices.

Data Analytics & Decision Making

Today, every business needs analytics and predictions based on which they make business decisions and choices. Membership management software utilizes customer data so that you may get useful business insights that help in beating the competition and leaving competitors behind. These predictions also play a role in helping companies make informed and money-making decisions. 

Integration Compatibilities

Another trend is the integration capabilities. Advanced membership management software can integrate with a plethora of applications and software. You also need to look for one such platform that can integrate with other software. Integrations with other software and applications increase the capabilities of the system. Every business needs to have such a system that offers a range of functionalities and features. 

If you are looking for a membership management system, then SubscriptionFlow is your go-to option. It offers all the necessary features that businesses usually look for. Also, it is a futuristic option because it enables businesses to thrive better in the future. To make a better decision, always jot down your business needs first so that you may invest money in the right tech stack. 

Featured image by Mick Haupt on Unsplash

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Best Ways to Have Secure Banking and Prevent Fraud

November 24th, 2023 No comments

Online banking is convenient and offers many advantages over traditional methods. You can get paid through direct deposit, deposit checks from your mobile phone, and even pay with your credit card through your phone’s virtual wallet. However, it’s important to stay vigilant about keeping your bank accounts secure. Fraudulent activities can happen to any of us, but following these tips will help you keep your information safe. Otherwise, you may put yourself, your bank account, and your money at risk of being stolen or lost without the possibility of recovery.

Use strong passwords.

Use a password manager. A password manager is a tool that helps you create and manage passwords, so you don’t have to remember them all on your own. You can set up the software with different levels of security and even generate complex passwords for you, so it’s harder for hackers to guess or break into an account. Having strong password protection on your bank accounts, along with choosing a bank with an established KYC/AML compliance program, gives you the necessary security – and peace of mind – to know your bank accounts likely won’t be compromised. 

Use long passwords with a combination of letters, numbers, and symbols. Strong passwords are harder to crack than short ones made up of simple words like “password” or “123456.” The longer the better–try using at least eight characters when possible (for example: JTtJc7#). If you’re having trouble coming up with something unique enough for each account but still memorable enough that no one else would guess it either (including yourself), try switching between capitals and lowercase letters randomly throughout your username/password combo; this way. no two logins look alike on the surface level, but users will still recognize their own password because of these small changes. Having a secure password system will maximize the security of your bank accounts.

Know what information you’re sharing.

Don’t share your personal information with anyone, as sharing personal data with untrustworthy sources can cause your passwords or other confidential information to be put into the wrong hands. In this worst-case scenario, this could lead to the unwanted loss of funds from your bank account or you being locked out of your account because your passwords were changed. Similarly, do not share personal information such as your credit card number, social security number, or driver’s license number to anyone unless necessary to share with your bank itself for transactional purposes. But in general, the safest rule is to keep this information to yourself. Having this information out in the public can bring a host of problems. 

Beware of phishing scams.

Phishing scams are fake emails that appear to be sent from a legitimate company. For example, you might receive one saying there’s been a problem with your account and asking for personal information such as credit card numbers or passwords. These scams are designed to trick people into giving away their information so it can be used by criminals who commit fraud.

If you receive an email asking for personal information, don’t reply or click on any links in the message–this could lead you straight into another scam! If you’re unsure whether an email is genuine (or just want peace of mind), contact the company directly using their official website address rather than clicking on any links within the body of the message. Falling for these scams can create even more AML challenges than already may exist. 

Be careful when using public Wi-Fi networks.

Make sure to use a virtual private network (VPN). A virtual private network (VPN) is a secure way of connecting to public Wi-Fi networks, as it encrypts all of your data and protects it from being intercepted by third parties. This can be especially useful if you’re using a public or shared network that isn’t protected by passwords or other security measures.

Additionally, try to avoid public Wi-Fi networks whenever possible. While some banks do offer mobile apps that allow users to access their accounts on these types of connections, they are still not as secure as accessing them through cellular data networks like 4G LTE or 5G – therefore, public networks should ideally be avoided at all costs. 

Look for secure websites.

Look for websites that look like “normal” sites you’ve seen around the web. Good signs to look for include having an “s” in https, a green padlock in the browser’s address bar, and an image of a closed lock next to the web address (URL). This latter sign means that your connection with this site is secure and encrypted. You can also check if it’s an authentic site by looking at the website name. If a domain name seems off or unfamiliar, do some research before entering any personal information on the page. Spammy websites may also ask you to denote if you’re “not a robot” but pressing these unfamiliar buttons can actually cause more harm to your computer – including placing viruses on your digital device. In regards to banking specifically, the best approach is typically to only go to the website that is listed on the bank of your debit or credit card; this way, you know it is the official, secure website of your actual bank. 

The importance of banking security 

The importance of banking security measures when it comes to keeping your money safe and sound can not be underestimated. In this age of digital transactions and online banking, convenience is king, but it also means we need to be a bit more mindful about protecting our hard-earned cash. By having solid security measures in place, banks not only make sure your money is safe, but they also protect their own reputation and financial stability. So, in a way, it’s a win-win for everyone. But also do not forget that when navigating your own online banking matters, be mindful of keeping your passwords safe, know what information you’re sharing, and look for secure banking websites. 

As we all navigate this digital landscape, with ever-smarter cybercriminals out there, being smart online while keeping your assets secure remains a top priority. After all, trust in the financial system is what keeps us all moving forward.

Featured image by Andy Kennedy on Unsplash

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