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Stuart O'Brien

Storfund set to offer $1bn to eCommerce SMEs

Storfund has raised $36.5 million of capital through the Private Debt team of Swiss bank Union Bancaire Privée (UBP) and private investors to expand its global operations and ‘help marketplace merchants access working capital and unlock liquidity’.

In its initial 18 months of operations, Storfund has become one of Europe’s leading eCommerce funders – This year, Storfund aims to provide $1 billion of cash advances to eCommerce merchants selling on Amazon and other European, American, and Asian marketplaces.

The only European Amazon approved funding provider, Storfund has a presence in 17 out of Amazon’s 20 marketplaces. It is also integrated into other leading European eCommerce sites and is due to be rolled out onto several other marketplaces during 2021. 

Storfund says its API driven propriety technology brings innovation and efficiency to the receivables finance industry which has been unable to serve e-commerce merchants due to its traditional approach. Technology streamlines processes and lowers costs, which is ultimately passed on the e-commerce merchants. Storfund’s bespoke underwriting standards based on marketplace microstructure indicators rather than traditional credit metrics allow Storfund to onboard e-commerce merchants within 24 hours and manage risk on a dynamic basis. 

By combining access to working capital and international cross-border payments in over 50 currencies, London-based Storfund provides eCommerce sellers around the world with an end-to-end solution for stabilising cash flow, accelerating growth and increasing profitability from their local and international sales.

eCommerce is now an indispensable part of the global retail framework. Like many other industries the pandemic has reshaped the retail landscape and accelerated its exponential transformation. 2020 saw global eCommerce surpass $3.5 trillion in sales, accounting for 22% of the entire global retail market.

Storfund was conceived by former investment bankers George Brintalos and Akbar Ahsan. Brintalos said: “Storfund bridges the gap between eCommerce and capital, which is under served by traditional banks which are either too rigid to adapt or are withdrawing from the SME sector. We are here to address the capital needs of this new category of entrepreneurs, providing them with the liquidity they need to naturally grow their business, without adding unnecessary debt on their balance sheet or diluting their share capital base.”

Ahsan added: “Storfund uniquely understands the cashflow challenges of eCommerce merchants and offers a frictionless liquidity solution for the digital age. We are pleased that investors saw the value of Storfund’s tech-first approach which combined with our real time risk management puts us at the forefront of our industry. This investment round will accelerate our scale up and help us in our mission to alleviate the pain of long payment terms and provide growth capital to eCommerce merchants.”

Pinterest’s first Global Advertiser Summit announced

Pinterest will host its first ever advertiser summit, Pinterest Presents, on March 3rd, for advertisers in key markets including the UK, US, France, Germany, Canada and Australia.

It says the virtual summit is designed to inspire and spark creativity among its audience and provide marketers with an exclusive look at the company’s latest ad product updates.

Pinterest Presents will bring together a range of industry voices, celebrities and speakers as a part of a virtual experience. In addition to CEO Ben Silbermann, global Pinterest speakers will include Andréa Mallard, Chief Marketing Officer, Aya Kanai, Head of Content and Creators Partnerships, and Dan Lurie, Head of Growth and Shopping Product. 

The summit will feature customized content and speakers for each market, to give marketers a window onto local audience trends and ad opportunities. Sessions for each country will ignite conversations around diversity and inclusion, sustainability, scaling e-commerce, designing for accessibility, and entrepreneurship:

  • US: Jon Kaplan, Pinterest Chief Revenue Officer will host Walter Frye, Vice President of Global Brand Engagement & Design at American Express and Sarika Sangwan, Pinterest Global Strategy & Financial Services Marketing Lead, who will dive into American Express’support of small businesses. Sinéad Burke, Founder of Tilting the Lens, will be sharing her personal story on how she lives in a world not designed for her and address how accessibility needs to be better integrated in technology. Celestine Maddy, Global Head of Consumer & Brand Marketing at Pinterest will present the Future Trends. 
  • UK: Katherine Ryan, Comedian, Actress and Writer will host the UK show and even try her hand at some Pinterest Predicts trends. Elizabeth Day, Journalist and Broadcaster and Karen Blackett OBE, UK Country Manager, WPP and CEO, Group M, will discuss personal and professional stories of positive failure through the lens of inspiration, and Steven Bartlett, Founder of Social Chain will interview Alex Loizou, Founder of Trouva about being an entrepreneur and heading up a challenger brand. Sinéad Burke, Founder of Tilting the Lens, will be sharing her personal story on how she lives in a world not designed for her and address how accessibility needs to be better integrated in technology. Milka Kramer, UK & Ireland Country Manager at Pinterest will present the Future Trends. 
  • France: Anaïs Grangerac, TV Presenter and Pinterest creator will host. Alexandre Mars, serial entrepreneur, philanthropist fund founder will talk to Yannick Bolloré, Havas Group CEO in a fireside chat about entrepreneurship and the future of ecommerce in the advertising industry. Inès Leonarduzzi, CEO of NGO Digital and Emmanuelle Paille, Head of Comms, CSR & Public Affairs at Bel Group will explore what users are expecting from brands today and the impact of the COVID crisis. Adrien Boyer, France, Southern Europe and Benelux Country Manager at Pinterest will present the Future Trends. 
  • Germany: Sascha Vitzthum, SVP Marketing at Home24 and Philipp Westermeyer, OMR Founder, will explore the shop window of the future. Jens Raskop, Head of Digital Marketing at MINI will be interviewed about aspects of reinvention and Maike Abel, Head of Media Communication & Content at Nestlé and Tijen Onaran, Entrepreneur and Author, will be talking about brand reputation and sustainability. Philip Missler, Head of Europe at Pinterest will present the Future Trends. 
  • Canada: Erin Elofson, Head of Canada and Australia will host Alex Panousis, CEO, Carat Dentsu Aegis Network to discuss the death of the last click, agility in the pandemic age, and breaking through with creativity and brand safety. Sinéad Burke, Founder of Tilting the Lens, will be sharing her personal story on how she lives in a world not designed for her and address how accessibility needs to be better integrated in technology. Pascal Duffaut, Head of Partnerships, Automotive & Emerging at Pinterest will present the Future Trends. 
  • Australia: Ryan Goldsworthy, Australia Agency Lead at Pinterest will host Megan Brownlow, industry leader, who will speak about how self-actualized brands embrace conscious commerce and align with social good. Turia Pitt, author, speaker, coach, and ironman athlete, will discuss how she has overcome hardships and truly embraces inspiration. 

In addition, stars from the worlds of fashion and entertainment will be joining the line-up with exclusive advice for marketers. Pinterest will be announcing these special guests to registrants just before the event on March 3rd.

“In the past year, Pinterest’s long-held commitment to being a positive destination for inspiration has become more relevant than ever, and as a global brand, we have the opportunity to lead with our values and shape the future. Our partners and advertisers around the world play an incredible role in shaping this environment, and we’re excited to share our new ad tools and insights to make it easier to connect with our engaged audience around the world.”  – Visha Naul, Director of Business Marketing for Europe at Pinterest

Digital Marketing Solutions Summit: Your key to unlocking success in 2021

The Digital Marketing Solutions Summit takes place May 13th at the Hilton London Canary Wharf – will you be joining us?

The Summit allows you to connect with innovative and budget-saving suppliers, as well as learn about the latest insights within the eCommerce industry.

Your pass is entirely free and includes access to insightful webinars including “Grow like a Badass Unicorn“, in which Alice ter Haar, Founder & Chief Unicorn, Badass Unicorn, will teach you how to apply the growth strategies of the world’s most inspiring businesses.

This session is a whistle-stop self-awareness and self-empowerment tour where you’ll reconnect with the most important ingredient for personal and professional success – yourself.

The output? The self-awareness and motivation to take your potential by the (unicorn) horn by being your most badass self.

Confirm your place here via our online booking form – attendance options are flexible.

70 percent of marketers expect to boost spend in 2021

Nearly two-thirds of those surveyed by the CMO Council say they will boost marketing spend in the coming year and most don’t expect to downsize or re-structure their organisations.

While many industry sectors have struggled in the past year, it appears most marketers have already done all the cutting, pruning and restructuring of budgets and teams in 2020, notes the Chief Marketing Officer (CMO) Council. 

The organization has 16,000 members in 10,000 companies across more than 110 countries worldwide. Members collectively control nearly $1 trillion of annual marketing spend.

Key indicators of a positive outlook come from a year-end Getting It Done in 2021 audit of around 200 CMO Council members across all regions worldwide. Key findings reveal:

  • A surprising 65 percent will increase marketing spend in 2021; just 10 percent will reduce their budgets, while 24 percent expect no change
  • A large percentage of marketers (70 percent) report significant or growing investments in marketing technology to improve effectiveness
  • Most important areas of marketing automation and transformation will be sourcing and using customer data insights, executing campaigns more effectively, as well as improving operations and performance 
  • Just a quarter of marketing leaders say they will downsize or re-structure their marketing organizations in 2021, in contrast to 64 percent who will not
  • Working more effectively with lines of business is the number one priority for marketing leaders, who are also keen to lower cost, increase efficiency and do a better job of both globalizing and localizing campaigns
  • Over half of marketers surveyed want to optimize their customer journey, and more than a  third want to boost acquisition and conversion rates through better data-driven interaction and digital innovation
  • Interestingly, across company sizes, regions and industries, priorities remained consistent: marketers are looking to increase spend and automate; likewise they are looking to save costs through efficiencies rather than through staff cuts

“The most relevant and compelling areas of conversation among our members right now are all about ROI, efficiency and revenue optimization,” said Manuel Hüttl, Senior Vice President Europe beim CMO Council.” This means being more focused on digital marketing transformation, creating value from customer data, and upgrading customer engagement and experience.” 

The online survey was fielded in December and early January and a summary report and infographics can be downloaded at https://cmocouncil.org/thought-leadership/reports/getting-it-done-in-2021.

The eco-brands seeking to help the world

Although us as consumers might do all we can to reduce our carbon footprint like recycling all items possible, taking public transport, cutting down on meat consumption or switching from oil to gas, there are 20 firms behind a third of all global carbon emissions. According to researchers, these companies are responsible for knowingly accelerating the climate crisis even after scientific evidence.

Climate change is a global threat which requires global reforms enforced by governments across nations. Although the power of consumers pales in comparison to international corporations, consumers have a responsibility to spend their money which will have a positive impact rather than further empowering these harmful companies — eco brands that are sustainable. Research shows that 88 percent of consumers want brands to help them be more environmentally friendly, 

Here, we’ll take a look at the top brands that are making the biggest green waves in terms of sustainability, diversity, and equality.

Patagonia

The apparel industry as a whole accounts for around 10 per cent of global carbon emissions due to production, manufacturing, and transportation of the millions of pieces of clothing purchased each year. To put that into perspective, aviation only accounts for two per cent of global emissions.

Patagonia is a popular outdoor adventure-wear brand which is committed to respecting the outdoors and nature that its shoppers respect. Patagonia is a B Corporation, with the “B” standing for “benefit.” These B Corps must meet extremely high standards of social and environmental performance, accountability, and transparency. Brands must score a minimum of 80 to be certified, with Patagonia at 151.

All of the cotton and fabrics sourced for the clothing is certified organic as well as a high proportion of eco-friendly and recycled materials. Patagonia’s strategy is the opposite of fast fashion, creating products that are high-quality and long-lasting so that less is bought to replace garments that fall to pieces after a few wears. Shoppers are encouraged to buy and sell worn wear, with the option to send back in used items to be repaired and resold. The company donates one percent of sales to environmental organisations such as Worldwide Fund for Nature (WWF), with $89 million being donated since 1985.

The company is also known for progressive procedures and services like onsite childcare, three-day weekends every other week, and has pledged to bail any employee out of jail who is arrested for peacefully protesting for the environment.

tentree

It seems that outdoor brands are leading the way in sustainable business practices, with tentree, who create outdoor clothing and base their whole marketing strategy around planting ten trees for every purchase made. In 2016, tentree became a certified B Corp, scoring 124. Since the company’s start in 2012, tentree have planted almost 40 million trees in more than eight countries, with a corporate mission to plant one billion by 2030. Trees absorb and store carbon dioxide emissions that are driving climate change, with research estimating that a global planting initiative could remove two-thirds of all emissions from human activities in the atmosphere.

tentree’s mission is reflected in the materials used as sustainable materials like lyocell and hemp. The brand endorses complete transparency in their operations, providing insight into its ethical manufacturing and disclosing the environmental footprint for each product made. In terms of inclusivity and diversity, tentree’s products are inclusive to body types.

CanO Water 

As mentioned prior with Coca-Cola being the world’s biggest offender of plastic waste, plastic water bottles are one of the biggest causes of ocean pollution. Statistics report that in the UK alone, 7.7 billion plastic water bottles are used each year. Water is an abundant and natural resource, so with bottled water essentially being unethical and unnecessary, the thought of shipping water across the world seems absurd. What is our obsession with bottled water when we have a tap feeding unlimited amounts of water to our homes? Well, with water quality deteriorating due to pollution and sewage companies in the UK, many opt for bottled water under the misconception that it’s cleaner.

CanO Water is packaged in recyclable and sealable aluminium cans that can be recycled an infinite number of times, creating a plastic-free cycle. You can refill and reuse these cans of water as you please, making them convenient and eco-friendly. ‘Wave Goodbye to Plastic Pollution’ is an ocean clean-up campaign created by CanO Water to both make our seas cleaner while raising awareness of the looming crisis our oceans are facing. The campaign encouraged the public to post a ‘wave’ emoji 🌊 on CanO Water’s Instagram post, with each wave equivalent to removing 3.5 plastic bottles of plastic from beaches.

Fairfields Farm

Essex-based potato farmers, Fairfields Farm, are playing their own part in the fight to become more sustainable. Thanks to a packing facility, that is supplied daily with potatoes grown on the farm, their food miles are as low as possible, giving them low carbon footprint produce. 

They also use fertiliser from its renewable anaerobic digestion site for potato growth, which results in less carbon being released into the atmosphere. It also powers the potato cold stores with renewable energy from both solar power and its digestion site, which saves several thousand tonnes of carbon per year.

Their work has not gone unnoticed, as HelloFresh, the recipe delivery service, will be using the farm for their supply of potatoes. 

There are plenty of sustainable brands playing their part in creating a clean and safe planet for us. Make sure you do your research so that your money goes towards a greener future. 

Grow like a Badass Unicorn at Digital Marketing Solutions Summit

Not yet registered for the Digital Marketing Solutions Summit? This unmissable event takes place May 13th at the Hilton London Canary Wharf.

The Summit allows you to connect with innovative and budget-saving suppliers, as well as learn about the latest insights within the eCommerce industry.

Your pass is entirely free and includes access to insightful webinars including “Grow like a Badass Unicorn“, in which Alice ter Haar, Founder & Chief Unicorn, Badass Unicorn, will teach you how to apply the growth strategies of the world’s most inspiring businesses.

This session is a whistle-stop self-awareness and self-empowerment tour where you’ll reconnect with the most important ingredient for personal and professional success – yourself.

The output? The self-awareness and motivation to take your potential by the (unicorn) horn by being your most badass self.

Confirm your place here via our online booking form – attendance options are flexible.

Do you specialise in Lead Generation & Tracking? We want to hear from you!

Each month on Digital Marketing Briefing we’re shining the spotlight on different parts of the print and marketing sectors – and in February we’ll be focussing on Lead Generation & Tracking services.

It’s all part of our ‘Recommended’ editorial feature, designed to help marketing industry professionals find the best products and services available today.

So, if you specialise in Lead Generation & Tracking solutions and would like to be included as part of this exciting new shop window, we’d love to hear from you – for more info, contact James Howe on j.howe@forumevents.co.uk.

Here are the areas we’ll be covering, month by month:

Feb – Lead Generation & Tracking
Mar – Email Marketing
Apr – Digital Printing
May – Social Media
Jun – Brand Monitoring
Jul -Web Analytics
Aug -Conversion Rate Optimisation
Sep -Digital Signage
Oct -Brochure Printing
Nov – Creative & Design
Dec – Online Strategy

UK entertainment sales driven to new highs by lockdown streaming

Locked down Britain turned to digital music, video and games in record numbers in 2020, increasing entertainment revenues by 16.8% to a record £9.05bn, according to preliminary data compiled by the Entertainment Retailers Association (ERA).   

It was the fastest growth rate since records began, driven above all by digital services, who saw revenues increase by £1.4bn over 2019 to a new high of £7.8bn. 

Digital video services spearheaded by Netflix, Disney+ and Amazon Prime Video increased revenues by a remarkable 37.7% over 2019 while growing music streaming subscriptions saw recorded music revenues score their best result since 2006.

Gaming comfortably retained its lead as the largest of the three sectors, generating sales of more than £4bn for the first time.

Overall more than 80 pence in the pound spent on entertainment now goes to digital services rather than physical formats. Amid generally declining physical formats, vinyl LPs remain the shining exception, increasing sales by 13.3%. 

ERA CEO Kim Bayley said, “If there was ever a year in which we needed entertainment, it was 2020. The trend towards an increasingly digital entertainment market may be long established, but no one could have foreseen this dramatic leap as digital services filled the gap left by shuttered cinemas, concert halls and retail stores. With much of the country shut down, ERA’s members provided a welcome revenue stream for thousands of musicians, actors, directors and countless backroom staff.”

UK Consumers’ Favourite Brands revealed – And Amazon is top

The DMA has revealed the findings of its latest ‘How to win Trust and Loyalty’ research, which set out to gauge which brands UK consumers are most loyal towards.

Amazon turned out to be the most mentioned brand, with 15% of consumers naming it, followed by John Lewis (4%), Sainsbury’s (4%), and Tesco (3%).

When the DMA asked the same question back in 2018, the top choices looked very similar. Indeed, consumers mentioned Amazon (14%) followed by equal percentages selecting Marks & Spencer (4%), John Lewis (4%) and Sainsbury’s (4%).

Somewhat surprisingly, despite Amazon’s near-ubiquity across so many areas of consumption, the brand hasn’t gained any further traction with customers over the last 2 years.

The DMA says that, hypothetically, a reason behind such consistency can be explained by consumers’ view of Amazon more as a service provider rather than a brand to engage with. Data also reveals consumers’ loyalty to Amazon as being driven by convenience (54%) rather than a genuine connection (46%).

When consumers were asked to tell us their favourite brands, a quarter (25%) mentioned other brands outside the top ten, highlighting the variety of businesses that have managed to conquer consumers’ loyalty and that big brands are not as dominant as we might expect.

Data also revealed that about a third of consumers (35%) report not feeling loyal enough to any brand to name it as their favourite. This group’s voice is a clear testimony of the daily challenge brands must deal with: connecting with customers, gaining their trust, and being thought of when it’s time to purchase.

The DMA also dug further into why these consumers do not feel a sense of loyalty towards any brand. Consumers offered a range of reasons, from simply not feeling strongly about brands to wanting to try new ones.

The good news is that two out of the three reasons given are barriers that brands should be able to overcome themselves, with the right strategies.

Indeed, reward mechanisms for continued loyalty, such as wider benefits and offers, can be revisited to give consumers relevant value. Furthermore, the DMA says innovation and communication about improvements can be used to attract those who seek change and novelty. 

Read the full report here. 

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