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Hello, there!

It’s been an action-packed week 🙌 

• Podcast: The Art of Acquisition With Josh Li

• Success story: Meet Pragya Misra, OpenAI’s First Indian Employee

• Biz Hack: We decode yet another effective marketing strategy: Geofencing.

• Steal-Deal: Want to make $100,000 on Twitter? Audrey Lo Tells You How💰️

But first, a tour of the headlines…

Weekly Catchups

News | Industry Insights | Trends

• 💼 Job Hopping Made Easy

  The Federal Trade Commission issued a new rule making it easier for millions of workers to change jobs and negotiate higher pay by blocking employers from using so-called noncompete clauses. The agency says the move will raise workers’ wages by at least $400 billion over 10 years, or an average of $524 a worker per year.

• 💰Bitcoin Halving

  Bitcoin’s price increased by 2.86% to $66,560 in its halving event which happens every four years. Bitcoin halving is designed to slow Bitcoin release, creating a scarcity effect. Largely, publicly listed mining operations are geared up for the event, but smaller operations are exposed to the risk of going offline.

• 🤖 They’re Here

  AI startup Synthesia announced the launch of its “Expressive Avatars.” These AI-generated digital avatars can convey emotions like happiness, sadness, and frustration. Synthesia, backed by U.S. chipmaking giant Nvidia, raised $90 million from investors last year for a valuation of around $1 billion.

   

Uncharted Horizons

Personal Development | Success Story

Fuel Your Passion

As OpenAI makes inroads into India’s ripe tech market, it has appointed 39-year-old Pragya Misra as head of government relations. A trailblazer in the world of tech, Pragya has had a fantastic run first as Director of Public Affairs for Truecaller, where she liaised with government, investors, and media partners. And before, spearheading WhatsApp’s campaign against misinformation in 2018. 

As regulators seek to ensure OpenAI’s India presence does not adversely impact local firms, Misra has put herself in the heart of a new challenge with a global tech company hungry for scale. 

What if we told you her source of strength to perform the most demanding jobs lies outside of the job? Misra is better known for ‘Pragyaan’ a podcast about ‘work, meditation, and everything in between.’ She speaks to leaders across different spheres to gain insight into what grounds them. “I want to showcase how successful people in the world must use the power of meditation to achieve happiness and relieve trauma,” Misra says. 

Strategies | Tools | Marketing Tips

Decoding Geofencing

Geofencing marketing is a powerful tool that allows businesses to target customers based on location. This technology uses GPS, Wi-Fi, or cellular data to trigger targeted marketing actions such as personalized messages or ads when a user enters or exits a geofenced area (zip code, city, county, state, or country).

The first step involves creating a virtual ‘fence’ around a physical location (residential property/ store) supported by an ad campaign. 

💡A Practical Example: Let’s say you own a bakery and aren’t the only one on the block. There is competition. To get a leg up on them, place your geofence around the competitor’s location. Here are more geofencing best practices:

#1 Create a Geofence of Appropriate Size :

The last thing you want to do is create a geofence that is too large. Creating it around a competitor who is 30 minutes away is not strategic. They are unlikely to be visiting you on a whim. Focus on a smaller area (5-minute walk or drive radius). This targets people who might be conveniently closed. 

Doing site analysis is easy. Click on MapSimplicity Analytics. With this cloud platform, you can also select the type of displacement method: by car, bus or walking.

#2 Okay, But What Are the Different Kinds of Geofences?

Geofences can be created in three ways: Centroid Radius, Isochrone, and Measured Polygons.

• Centroid Radius involves locating the centre point of a target area and calculating the radius to create a proximity zone for ads.

• Isochrone uses a concentric line to describe the average travel time to a site, allowing marketers to target specific users.

• Measured Polygons allow businesses to create virtual perimeters that match specific locations, accommodating irregular shapes or multiple zones within a single geofence.

#3 Create Actionable Advertisements:

As you create advertisements to be sent to potential customers, you want to ensure these ads are actionable and inviting. Be concise and specific in your CTA advertisement. Some best-performing CTAs include: 

• Learn More

• Shop Now

• Buy Now

• Click Here

• Order Now

• Click to Save

• Call Now

• Shop Online

#4 Know Your Target Audience:

Essentially, you want to build a buyer persona, identifying your customer’s gender, age range, interests, and overall shopping behaviours. Try determining what consumers like about your brand and what draws them to your company. Turn to social media metrics if you have an online presence.

#5 Brands Using the Power of Geofencing:

Burger King utilized geofencing advertising to create a geofence within 600 feet of various McDonald’s restaurants. When users entered this perimeter, it would trigger an ad that would let them know they could download the Burger King app and download a coupon to receive a Whopper for a penny.

They saw 3x as many mobile sales during the promotional period and customers redeemed over 500,000 Whoppers.

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Networking | Business Development | Entrepreneurship

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