Technology continues to revolutionize the business world and those that capitalize on these advancements are set to position themselves at a distinct advantage. In recent years, artificial intelligence (AI) has risen in prominence. What once was a concept confined to the realms of science fiction is now very much a science fact. Early adopters of this technology can avail themselves of this powerful and enduring tool that is positioned to transform every area of our lives. One area in which AI is currently making waves is that of AI-enhanced digital marketing. According to the latest figures, AI has become deeply intertwined in the digital marketing landscape with over 80% of industry experts integrating some form of AI technology into their marketing activities.
While the benefits AI can offer businesses in this area are substantial, concerns remain that the ‘human element’ may be lost when over-reliance is placed on it. In this article, we will consider strategies businesses can employ to ensure authentic engagement with their customers while embracing an approach to AI-enhanced digital marketing.
Encompass the Art of Storytelling
Retelling tales around the fire of mystery, magic and suspense, with a captivated audience lingering on each word has long been viewed as a uniquely human art form. In this digital age, where AI spins its own stories, the challenge is to craft authentic narratives that resonate with their audiences.
Rather than simply conveying a message, marketers can use the ancient art of storytelling to evoke emotions and spark the imaginations of potential customers. By leveraging AI-generated data regarding their customers’ preferences and behaviors businesses can create content that feels uniquely personal and relevant to them, fostering stronger customer connections and brand loyalty.
Maintain Human Involvement
AI can prove invaluable to every area of the marketing process. From the generation of marketing campaigns and automation of social media schedules to data analysis and ad optimization, it can be tempting to entrust AI with the full gambit of marketing responsibilities. However, to strike the right balance, it is important for businesses not to understate or dispense with the human touch.
While AI can successfully streamline processes, improve efficiencies, and add to the bottom line, it is essential that key human traits such as creativity, intuition, and insight continue to play a part in the marketing process. Whether it is crafting compelling narratives, brainstorming campaign ideas, or making strategic decisions, the aspect of human involvement should also be maintained, ensuring an outcome that is shaped by this unique sensitivity and ability to genuinely speak to its audience.
This harmonious collaboration between AI and humans can be facilitated through marketing apps like Strictly.ai, which can help businesses generate personalized action plans with human marketers to help them meet their goals.
Test and Tweak
When introducing AI-powered marketing tools into their campaigns, businesses can benefit from taking a measured approach. Rather than switching over to a fully AI-generated strategy, it can be helpful to monitor and refine their initiatives based on feedback and data-driven results.
This enables businesses to see where they may need to bridge the gap between AI processes and human input, ultimately crafting campaigns that hit the right mark with their audiences.
By keeping these points in mind businesses can benefit from the power of AI while maintaining a human-centric approach to their marketing goals.
Featured image provided by Austin Distel; Unsplash; Thanks!
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Editor’s note: This is one in a series of stories breaking down the findings of a six-month study looking at possible solutions to the childcare crisis in Sioux Falls. Find an overview here.
Simplified: It costs more in one year to send your kid to a childcare center in Sioux Falls than it would to send them to a South Dakota state university. And as parents try to figure out how to balance careers and children, there aren’t many ways the math works out, according to the findings from the Sioux Falls Childcare Collaborative.
Why it matters
- Most parents – as many as 9 in 10 – in the city cannot afford childcare. Based on federal definitions of affordability, childcare should take no more than 7% of annual household income.
- In reality, parents are paying about $11,400 per year per child for childcare. In order to be “affordable,” a family would have to make more than $163,000 annually for one child. That’s nearly two and a half times the median household income in Sioux Falls.
- Embe CEO Kerri Tietgen, who’s also on the childcare collaborative leadership team gave the example of a four-person household where two parents are college educated and each working professional jobs for a combined income of $90,000 annually. They’d pay about a quarter of their income just in childcare.
- Even if one parent leaves the workforce, looking at average housing costs, health insurance, monthly student loan payments, utilities, food and other costs of living, there isn’t much (if anything) left over.
Oh boy. Is that the childcare crisis?
It’s a big part of it, yeah.
There are two other major factors at play: lack of available childcare slots and childcare workforce shortages.
- You’ll find a breakdown of that problem and proposed solutions in future stories in this series.
So what are the solutions for parents?
As Mayor Paul TenHaken said Monday night, there are no “home runs” here. Only singles.
Here’s where the Childcare Collaborative’s final report comes into play.
The report outlines a number of specific solutions to fix the affordability gap in childcare that essentially boil down to some combination of the following:
- Get businesses to pay part of the childcare costs for their employees
- Get the city or state government to pay a portion of childcare costs or help subsidize the costs providers face.
Uh oh. That sounds like you’re about to propose a tax increase.
Listen. I’m not proposing anything. I’m the messenger here.
That said, a tax increase is one of the many possible solutions laid out in the nearly 100-page final report from the Sioux Falls Childcare Collaborative. It’s a solution proposed, not the solution proposed.
Here’s a closer look at some of their ideas:
Use video lottery money. The state already uses a good chunk of video lottery revenue to help fund education. The collaborative proposes the city doing something similar with extra video lottery revenue it collects.
- The city gets an estimated $85,000 per year in fees associated with video lottery machines. The collaborative suggests taking that money to help fund an Office of Child and Youth Development to focus on solving this community issue.
Give more local control. Right now in state law, cities have the ability to impose what’s called a “non-ad valorem tax” (e.g. sales tax), but that tax is limited to 2%.
- The collaborative report suggests changing state law to either allow for a higher rate or removing the cap so that local communities can decide if they want to increase sales tax as a way to generate money to fund community efforts to make childcare more accessible and affordable.
Provide employer-paid assistance. Employers can provide and contribute to a Dependent Care Flexible Spending Account as a pre-tax benefit for employees. Or, they can give vouchers to employees to help offset childcare costs.
- Some companies are already doing this. The report references Pioneer Bank & Trust, which offers $5,000 to employees to offset childcare costs. The success in retaining staff outweighs the costs of the program, per a South Dakota Searchlight article cited.
Create scholarship programs. The collaborative also suggests creating a community scholarship fund for families who earn too much to receive state aid for childcare, but too little to be able to afford it on their own – folks who fall between 209% and 350% of the federal poverty level. That’s a family of four with a household income of between $62,700 and $105,000.
- The report estimates a $2.5 million fund could help support up to 500 families.
Match funds businesses invest. Another type of scholarship program the report proposes is a Childcare Business Incentive Grant.
- In this setup, employers would pay at least $300 per child per month as an employee benefit, and the state would match with another $300 per month.
Split the bill three ways. A community tri-share program – modeled off a similar program in Michigan – would split childcare costs equally between the parents, the employer and the local community via a community fund.
- The collaborative estimates a one-year pilot program to test this concept could help 500 families for just shy of $2 million.
Where do we go from here?
The Sioux Falls Childcare Collaborative is just getting started, said Michelle Erpenbach, president of Sioux Falls Thrive, the organization coordinating the 90-member group.
- This group has been working hard, Erpenbach said, but now’s the time for everybody to get on board.
“We are all going to have to do this together,” she said.
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June 23, 2023
The landscape of marketing has evolved drastically over the past few years, largely fueled by technological advancements and the constant quest for relevance. A discussion about this evolution is timely as we witness the convergence of marketing trends and the wealth management industry. Additionally, attracting younger investors today undoubtedly requires the use of social media. There’s even a renewed emphasis on staying ahead in marketing, particularly in the financial advisor world. Today, with almost 92 percent of financial advisors using social media for business, according to Putnam’s Social Advisor Survey, the stakes are higher than ever.
The core question that emerges from this shift is: How can financial advisors stay relevant and successful in an environment where marketing trends evolve so quickly?
On this episode of “Untamed Ethos,” host Dr. Joshua Wilson and founder of United Ethos Wealth Partners, interviewed Dr. Maribeth Kuzmeski. Their conversation explored the changing trends in marketing, the challenges faced by financial advisors in staying relevant, and the strategies needed to thrive in this fast-paced world.
During the episode, Dr. Wilson and Dr. Kuzmeski centered around these three main points:
- The need for continuous learning and adaptation in marketing to stay relevant.
- The importance of a multi-channel approach to marketing in the financial services industry.
- The role of digital credibility in converting and retaining clients in the wealth management space.
Dr. Maribeth Kuzmeski is an accomplished consultant in the wealth management space. Having worked with various types of financial advisors for over 20 years, she boasts an illustrious career trajectory that spans both practical and academic realms. A fervent advocate for forward-thinking marketing, Dr. Kuzmeski’s rich academic background includes a PhD in Marketing from Oklahoma State University. She continually pushes boundaries, guiding industry professionals to remain agile and responsive to emerging trends.
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In this dynamic era we live in, the landscape of digital marketing is undergoing significant transformations fueled by virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and the growing influence of Generation Z. Over the past few years, we have witnessed the emergence of novel trends in digital marketing, revolutionizing how businesses engage with their customers. With technology constantly evolving, the realm of digital marketing becomes increasingly captivating, as new strategies and tools emerge. Just as history has shown, digital marketing is ever-evolving, and those who adeptly adapt to these changes are the ones who thrive. To craft a successful digital marketing strategy for the future, it becomes crucial to understand the trends in digital marketing for the year 2023. Here are five current trends in digital marketing that businesses and marketers should carefully consider.
Virtual Reality and Augmented Reality
Virtual reality and augmented reality are revolutionizing the world of digital marketing, gaining immense popularity. VR offers captivating and immersive experiences, transporting customers to virtual realms. In contrast, AR seamlessly merges digital content with the real world, creating interactive and engaging encounters that blend physical and digital environments. These cutting-edge technologies help businesses increase customer engagement and ultimately sales. Although it may seem distant for small businesses, global brands are already capitalizing on these opportunities.
Take automobile manufacturers like Audi and Volvo, for instance. They’ve created virtual showrooms where customers can explore and personalize their dream car models. Users can virtually step inside the vehicle, closely inspect its features, and even do a simulated test drive. This groundbreaking approach allows customers to immerse themselves in the product without the need to physically visit a dealership.
The Rise of Generative AI Tools
AI has emerged as a valuable asset for digital marketers, enabling them to achieve more in less time. AI helps marketers automate various daily tasks such as formulating marketing strategies, conducting keyword research, and even generating ads or content. While these advancements bring benefits to marketers, it is crucial to consider their impact on the audience. The arrival of generative AI tools, like ChatGPT, has brought about significant shifts in consumer behavior. Many individuals now turn to these tools to seek answers and gather information. Although this may initially be perceived as a threat to digital marketing, it can be regarded as a rising trend in the industry.
To effectively navigate this trend, businesses and marketers must elevate their content strategies. This involves providing unique perspectives and expert insights that cannot be easily duplicated by generative AI tools. The focus should shift towards delivering value-added information that’s derived from hands-on experience in the subject.
The Rise of Social Commerce
Social commerce is not simply about selling products online; it’s a dynamic approach that integrates shopping with social interactions on various social media platforms. By leveraging influencers’ and users’ content, such as captivating photos, engaging videos, and authentic customer reviews, companies can elevate their sales strategies beyond traditional online methods. This innovative approach enables businesses to create emotional connections with customers, leading to increased sales directly on social media. Moreover, the interactive nature of social commerce allows customers to ask questions, seek clarification, and engage with brands through comments or dedicated Q&A sections. This not only instills confidence in purchase decisions but also provides valuable insights to companies, empowering them to better understand the market. Social media platforms thus serve as vibrant hubs where potential customers can engage with and learn from those who have already experienced the product firsthand.
The Rise of Voice Search
The rise of AI virtual assistants like Siri and Google Assistant, along with the advent of smart speakers such as Amazon Alexa and Google Home, has propelled the popularity of voice search. This trend has witnessed exponential growth, with research indicating that 72% of consumers have used a voice assistant. Notably, these voice-based inquiries often adopt a more conversational style, necessitating a corresponding conversational response. To effectively optimize your content for voice search, it becomes imperative to align it with these conversational patterns and provide concise, clear answers. AI assistants heavily rely on extracting information from featured snippets or the top positions in search engine results. Consequently, it is crucial to anticipate frequently asked questions relevant to your topic and ensure that your content offers direct and informative responses.
The Rise of Conversational Marketing
Since 2015 and continuing to the present day, conversational marketing has emerged as a crucial trend. This innovative approach revolves around actively engaging and interacting with customers in personalized, real-time conversations. Leveraging channels such as chatbots, live chat, and messaging apps, businesses can cultivate meaningful customer experiences and drive conversions. Today’s digital-savvy consumers demand superior online experiences, personalized content, and prompt responses to their inquiries. Their impatience with searching for information or navigating websites necessitates immediate attention. By implementing a conversational marketing strategy, your business can not only enhance the customer experience but also generate high-quality leads. Adopting chatbots for conversational marketing proves to be a valuable investment, as routine queries can be promptly addressed without overwhelming your customer service representatives’ email inboxes, saving both time and money.
Some Last Words
Digital marketing is undergoing a transformation with the advancements in technology, and there isn’t a single solution that fits all scenarios. As time goes on, consumer priority changes, and it’s necessary to adapt your strategy accordingly. These trends have brought about a revolution in how businesses interact with their customers, offering personalized and immersive experiences that nurture stronger connections. To stay ahead in the dynamic and ever-evolving digital marketing world, it’s crucial for marketers to embrace these trends and make use of emerging technologies. By grasping and capitalizing on these trends, businesses can improve customer engagement, increase conversions, and ultimately succeed in the digital realm.
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Hiking Guide for Beginners: How to Pack, Choose Trails and Stay Safe The New York Times
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How to stay fit while aging The Washington Post
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Stay on Top of Your Fitness Goals With This $19 Amazfit Tracker ($21 Off) CNET
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I’m a firefighter and a mom – I stay in shape by working out with my kids, I even do lunges with them on my… The US Sun
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Shares of chipmaker NVIDIA (NVDA) have gained more than 127% over the past six months. The rally has been driven primarily by investor perception that NVDA is well-poised to take advantage of the ongoing boom in AI. Despite NVDA’s solid growth potential in AI, our proprietary rating system has rated the stock ‘Neutral’ as macroeconomic uncertainties linger. Read on….
Designer of graphics chips, NVIDIA Corporation (NVDA), reported disappointing results for the fourth quarter and full-year 2023. Furthermore, the company is expected to face macroeconomic challenges in the near term, including supply chain disruptions, high borrowing costs, and eroding consumer spending amid inflationary and recessionary pressures.
Despite a weak performance in fiscal 2023, shares of NVDA have gained 127.1% over the past six months. Improved investor sentiment is driven by optimism about the chipmaker’s growth prospects amid the AI boom. While NVDA is making enormous efforts to boost its expansion in high-growth areas, it could be wise to wait for a better entry point in this stock due to its fundamental weakness, elevated valuation, and near-term macro headwinds.
Reflecting the uncertain prospects, our proprietary POWR Ratings system has rated this chip stock C (Neutral).
With a $666.95 billion market cap, NVDA provides graphics and compute & networking solutions in the United States, Taiwan, China, and internationally. The company reported fourth-quarter revenue of $6.05 billion, down 21% year-over-year.
In addition, NVDA’s non-GAAP net income and EPS declined 35% and 33% year-over-year to $2.17 billion and $0.88, respectively.
Furthermore, analysts are bearish about the company’s near-term prospects as it grapples with macroeconomic headwinds, including declining consumer spending amid still-elevated inflation, rising interest rates, supply chain constraints, and growing export restrictions.
However, the graphic chips maker is working effectively in customizing its products to meet the rules and regulations of the country they are being exported to. On March 21, 2023, NVDA announced that it had modified its flagship product H100 into version H800 which is legal to export to China, an important market for its computer hardware and software.
Also, the company said it would ship the BlueFlied-3 data processing unit (DPU), a primary product to boost the speed of computing infrastructure, to China.
Despite macroeconomic challenges dampening near-term demand for its solutions, AI is viewed as a long-term growth opportunity for NVDA since AI adoption is at its starting point with the recent viral success of Open AI’s ChatGPT.
“AI is at an inflection point, setting up for broad adoption reaching into every industry. From startups to major enterprises, we are seeing accelerated interest in the versatility and capabilities of generative AI,” said Jensen Huang, founder and CEO of NVDA.
The company is partnering with leading cloud service providers to offer AI-as-a-service that provides businesses access to NVIDIA’s world-leading AI platform. Enterprises and customers could use each NVIDIA AI layer – the AI supercomputer, acceleration libraries software, or generative AI models – as a cloud service.
Here’s what could influence NVDA’s performance in the upcoming months:
Positive Latest Developments
On March 21, 2023, NVDA and Adobe (ADBE) announced a partnership in which the companies would co-develop a new generation of advanced AI models using NVIDIA Picasso and Adobe tools like Creative Cloud. This partnership, primarily focusing on the deep integration of generative AI in creative workflows, might boost NVDA’s growth and profitability.
Moreover, on the same day, NVDA and Google Cloud delivered a new generative AI platform, built on the new L4 GPU and Vertex AI, to accelerate the work of companies making a rapidly expanding number of generative AI applications. This new introduction should bode well for the company.
Bleak Financials
For the fourth quarter of fiscal 2023, NVDA’s revenue decreased 20.8% year-over-year to $6.05 billion. The company’s non-GAAP gross profit declined 23.3% year-over-year to $3.83 billion. Also, its non-GAAP operating expenses increased 22.7% year-over-year to $1.78 billion.
Furthermore, the company’s non-GAAP income from operations declined 39.5% year-over-year to $2.22 billion. Also, its non-GAAP net income decreased 35.1% year-over-year to $2.17 billion, while its non-GAAP EPS came in at $0.88, down 33.3% year-over-year.
Mixed Analyst Estimates
Analysts expect NVDA’s revenue for the fiscal 2024 first quarter (ending April 2023) to decline 21.3% year-over-year to $6.52 billion. The consensus earnings per share estimate of $0.91 for the current quarter indicates a decline of 33.1% year-over-year.
However, analysts expect NVDA’s revenue and EPS for the fiscal year (ending January 2024) to increase 11.3% and 35.7% year-over-year to $30.03 billion and $4.53, respectively. Also, the company’s revenue and EPS for fiscal 2025 are expected to grow 24.5% and 33.7% year-over-year to $37.39 billion and $6.06, respectively.
Robust Profitability
NVDA’s trailing 12-month gross profit margin of 56.93% is 12.7% higher than the 50.54% industry average. Its trailing 12-month EBITDA margin of 26.40% is 183.8% higher than the 9.30% industry average. Also, the stock’s trailing 12-month net income margin of 16.19% is 502% higher than the industry average of 2.69%.
Furthermore, NVDA’s trailing 12-month ROCE, ROTC, and ROTA of 17.93%, 9.61%, and 10.61% compare to the industry averages of 1.96%, 2.06%, and 0.67%, respectively.
Elevated Valuation
In terms of forward non-GAAP P/E, NVDA is currently trading at 59.96x, 197.4% higher than the industry average of 20.16x. The stock’s forward EV/Sales of 22.23x is 710.8% higher than the industry average of 2.74x. Moreover, its forward EV/EBITDA multiple of 66.86 is 389.9% higher than the industry average of 13.65.
In addition, the stock’s forward Price/Sales of 22.27x is 725.7% higher than the industry average of 2.70x. Its forward Price/Cash Flow multiple of 63.54 is 238.5% higher than the industry average of 18.77.
POWR Ratings Reflect Uncertainty
NVDA has an overall C rating, equating to Neutral in our POWR Ratings system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. NVDA has a B grade for Quality, in sync with higher-than-industry profitability. Also, it has a B grade for Momentum. The stock is currently trading above its 50-day and 200-day moving averages of $144.89 and $178.17, respectively.
NVDA has a C grade for Growth, consistent with its weak financials and mixed analyst expectations.
On the other hand, the stock has an F grade for Value, consistent with its higher valuation relative to its industry peers. Also, its 24-month beta of 2.01 justifies a D grade for Stability.
NVDA is ranked #63 out of 91 stocks in the Semiconductor & Wireless Chip industry.
Click here to access all POWR Ratings for NVDA.
Bottom Line
NVDA reported deteriorating financials in the fourth quarter and fiscal year 2023. While the company is well-positioned to cash in on the open-ended growth opportunities present by AI in the long run, its revenues and earnings are expected to be affected by ongoing macroeconomic uncertainties and the growing risk of a recession.
Given NVDA’s disappointing financials, significantly high valuation, and near-term macroeconomic headwinds, it could be wise for investors to wait for a better entry point in this chip stock.
Stocks to Consider Instead of NVIDIA Corporation (NVDA)
Given its uncertain short-term prospects, the odds of NVDA outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these three A-rated (Strong Buy) stocks from the Semiconductor & Wireless industry instead:
United Microelectronics Corp. (UMC)
SUMCO Corporation (SUOPY)
Tower Semiconductor Ltd. (TSEM)
What To Do Next?
Get your hands on this special report:
What gives these stocks the right stuff to become big winners, even in this brutal stock market?
First, because they are all low priced companies with the most upside potential in today’s volatile markets.
But even more important, is that they are all top Buy rated stocks according to our coveted POWR Ratings system and they excel in key areas of growth, sentiment and momentum.
Click below now to see these 3 exciting stocks which could double or more in the year ahead.
NVDA shares were trading at $277.55 per share on Tuesday morning, up $7.53 (+2.79%). Year-to-date, NVDA has gained 89.95%, versus a 8.54% rise in the benchmark S&P 500 index during the same period.
About the Author: Mangeet Kaur Bouns
Mangeet’s keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet’s looks to help retail investors understand the underlying factors before making investment decisions.
The post NVIDIA (NVDA): Why You Should Stay Invested in This Stock appeared first on StockNews.com
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How to STOP Skipping Workouts – Practical Tips to Stay Motivated BOXROX
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