Day: April 22, 2021

Data ethics is about control and sustainable utilization of data. It is more of doing appropriate things for society and people. Data procedures should be intended as bearable solutions that benefit humans.

Data ethics denote and adhere to the values and principles where personal data protection laws and human rights are based. This is about genuine transparency and honesty as far as data management is concerned. The main purpose of this is to produce privacy-boosting products and privacy-by-design and infrastructure.

Data ethics is not just mere compliance with personal information security laws. Therefore, every data processing serves as the pre-requisites crafted by the Charter of Fundamental Rights. Now, huge data analytics boosts various ethical issues. This is often observed when the organizations start to monetize their data externally, having a different purpose from which the data was originally collected.

Data ethics describes a behavior code, often focused on what is wrong and what is right. This encompasses the following:

•   Data management – This includes recording, generation, curation, dissemination, processing, use, and sharing.
•   Algorithms – This includes machine learning al, robots, and artificial agents.
•   Corresponding practices – It includes programming, responsible innovation, professional codes, and hacking.

Data ethics is designed on the foundation provided by information ethics and computer. However, at the same time, they polish the scheme endorsed in this research field. They do this by shifting the abstraction level of ethical reviews. As observed, businesses are interested in utilizing data ethics to prove themselves trustworthy, to comply with regulations, to ensure reasonable and fair data usage, to develop a positive public perception, and to minimize social inequities and biases.

At present, the range and ease with which data analytics can be performed change the ethical context. Unlike before, we can do impossible things, and current legal and ethical frameworks can never recommend what we need to do. Right now, experts agree on the following ethical principles for using data:

1. Privacy customer identity and data should remain private – The term privacy does not mean confidentiality, as private information might need for auditing based on the requirements in the legal procedure. However, this private data acquired from an individual with full consent. It is also noted that the data should not be revealed for the utilization of other individuals or companies, allowing them to track their identity.
2. Shared private information should always remain private – In most cases, third-party companies share sensitive data. The typical examples of these are locational, financial, and medical data. Also, they need to have limitations on how the data can be shared for privacy and legal concern.
3. Customers should exercise a transparent view of how the data s being sold or utilized. They also need to have the ability to handle the flow of their private data across third-party and massive analytical systems.
4. There should be no interference between big data and human will. This is one of the ethical principles for using data as big data analytics can determine and even moderate who we are before making up our minds. Organizations need to start to ponder about the types of inferences and predictions that should be and not allowed.
5. Big data should not institutionalize prejudicial biases – The typical examples of these are sexism and racism. Algorithms of machine learning can grip unconscious biases in people and empower them through countless training samples.

There are various ethical principles for using data people need to develop as powerful technology becomes even more available day after day. Database administrators, data engineers, data scientists, and anyone connected in managing big data should have the power to speak in the ethical discussion related to how the data is being utilized. Organizations should openly discuss predicaments in both informal and formal forums. Obviously, when individuals do not see ethical principles in their company, they will leave their organization.

Ethical principles for using data provide a high-level and wide context for resolving ethical predicaments, namely:

•   Secure vulnerable humans who could be impaired by the activities in their professions;
•   Enhance and protect the trust and reputation for the profession;
•   Give a basis for public evaluation and expectations of the profession;
•   Make the profession as a diverse moral public worthy of self-sufficiency from external regulation and control;
•   Serve as a guide for adjudicating disputes among organizations, both non-members and members;
•   Make institutions buoyant in the face of external burdens; and
•   Answer the past destructions made by the profession

Take note that these purposes of ethical principles for using data are implied in terms of “professions.” Professions often have their respective code of exercise depending on their principles. However, one of the characteristics of contemporary data technology and science is that there is no single professional bearing accountability for it. Undeniably, computer science and statistics are the two major disciplines. There are also some application domains like finance, retail, social media, and medicine that map the ethical principles to the real-world in distinct ways.

At present, more and more people are talking about data ethics. Now, your level of awareness about data ethics and how it affects your business should be your top priority. It is also a must for you to practice ethical data principles and management at all times. Here’s why:

•   Consumer Relations – Having excellent data ethics is a brilliant business decision. If you respect others’ personal information and careful with data, they will appreciate you. This will definitely build loyalty. On the contrary, unethical data management can destroy your organization’s public image.
•   Legality – Data management becomes a legal concern in some aspects as well. Thus, you need to comply with the given regulations.
•   Implementing Data Ethics – If you opt to stay in business for a couple of years, it is a must to manage your data ethically. The manner of protecting your people’s data greatly depends on your company’s needs. Whatever you gather, you should always be transparent.

If you practice well-thought-of data ethics, all parties benefit from this data. Your clients will be grateful that you are keeping their private details safe. The importance of data ethics can never ignore by countless people, especially in the business field.

In the competitive world of business, gaining the loyalty and trust of your customers can be challenging. With that, you must develop effective strategies to maintain your customers’ loyalty and satisfaction. As a business owner, it is natural that you don’t just like to get new customers but also like to retain your existing customers. 

Once your customers are not satisfied with your services or product, they will be discouraged from returning to you and possibly share negative feedback about your business. The cost of acquiring new clients is higher compared to retaining existing clients. If your customers are satisfied with your products or services, you have a higher chance of getting new ones. Your loyal customers will share about your business to other people, which increases your brand recognition. 

Do you want to increase the profits of your business? If yes, you need to get more loyal customers. The following are essential tips to maintain your customers’ loyalty and satisfaction to make your business more profitable. 

 

Follow Up With Your Clients 

If you want your customers to come back to your business, you must follow up with them. You must not ignore your customers after they purchase your services or products. You can do this by sending them a simple thank you through email or SMS. It is also a good idea to request them to review or rate your services or products. 

 

Enhance The Professionalism Of Your Employees

Another effective way to retain your customers is to improve the professionalism of your employees. As the owner of your business, you must be responsible for guiding your team to work professionally. You can observe how your employees deal with your customers. It can be helpful if you provide them with constructive suggestions on what they need to improve when it comes to dealing with customers. 

 

Provide Customer Loyalty Programs 

One effective method you can use for Loyalty Management is offering customer loyalty programs. This technique is used by restaurant and retail businesses. With loyalty programs, you can reward those customers who are loyal in making purchases with your business. You can give them membership cards and points on each purchase they make. They can redeem the points for different services or goods you offer.   

You can also use an app to have a unique customer loyalty program. The customers who make more transactions can get higher points. They can use it to get discounted products. You can also provide tiered or VIP loyalty programs that can give special treatment for the members. 

 

Enhance Your Brand Quality 

One of the best ways to gain the loyalty of your customers is to enhance your brand quality. You can’t gain the attention of your target audience if they are not satisfied with your services or products. They will not return to your business. With this, you must follow up with your customers and get feedback from them about your products and services’ quality. With this, you can get helpful insights on what aspects of your business need improvement to satisfy your customers. Take note that meeting the wants and needs of customers is the key to long-term success in businesses. 

 

Be Charitable

You can also encourage your target audience to choose your business by being charitable. With this, they can feel good about your brand. You can show your target audience that you’re concerned about social or environmental issues. In this way, they will feel good since they can be part of a positive society. You can partner with NGOs and invite your clients to make donations. You can also advocate the Go Green program by replacing plastics with paper bags or reusable bags. 

 

Conduct Social Media Contests 

If you want your customers to return to your business, you can conduct social media contests. It can remind them to purchase your products or services again. You can send them emails and SMS and invite them to join the contests. 

Creating contests on social media is fun to do. You can offer prizes for the winners of the contest with your products or services. The competition can be for those who have membership cards with your loyalty program. 

 

Personalize Your Marketing 

Personalization in your marketing can also help you to retain your customers. You can request your team to make a record of your customers’ profiles. Then, send your customers emails that will promote your new services or products. You can also remind your customers to purchase your products again. 

You can also send your customers emails during special days like Christmas and Valentine’s. Make your clients feel special to win their trust and loyalty to your business. You can send birthday wishes to them and provide them special birthday offers. 

 

Why Is Customer Loyalty Management Important For Your Business? 

Customer loyalty management is essential if you want to make your business profitable and successful. With the competition in your specific industry, it can be hard to win your potential customers’ trust. Therefore, you need to formulate an efficient plan on convincing them to choose your business over the others. 

With the tips mentioned above, you can win the support and trust of your customers. They can also help in promoting your business once they became satisfied with your products and services. If you don’t invest in loyalty management strategies, you can miss opportunities for the growth of your business.   

 

Conclusion 

Retaining the loyalty of your customers is essential to boost the sales and profits of your business. With this, you can also encourage new customers to choose your products or services. By conducting a Loyalty Management program, you can improve the credibility and recognition of your brand. 

Do you want to get more loyal customers for your business? Then, you must apply the tips we mentioned above to make your business more profitable. Remember that your customers are essential for the success of your business. So, make sure to develop an effective strategy to meet your target audience’s needs and satisfaction. 

 

No results found for A1E70EE8.docx (1,006 words, $0.11) on 31 Mar 2021 at 11:23 GMT. 

The market of circular fashion will need collective action. With the issues on sustainability that consumers experience, circularity is considered as the solution to unlock opportunities for a sustainable future.                                     

In the fashion industry, less is more in terms of environmental protection. It suggests that the less effect on our planet, the more advantages it will have for people, businesses, as well as natural life. Among the best methods for the fashion industry is to lower its effect on the environment through measuring circular business models. In this case, companies will utilize different strategies for waste reduction and develop more efficient resource usage. 

In 2021, circularity moves from fashion fringes to center stage. The driving force to act for the environment is to change the attitude of consumers. It is believed that purchasing decisions can be influenced by the environmental impact. In addition, policy-makers and regulators are working for upcoming activities to advocate circular practices like in the EU and disallow luxury goods destruction, which can be found in France. 

Potential measures like the carbon border tax of the EU will advocate circularity through making onshore recycling as well as other circular projects. The circular business model is a big ambition and requires a long process.    

Even though some players make efforts, about 12 % of fibers remain discarded on a factory floor, less than 1% of items are recycled for new garments, and around 25% of garments are still unsold. With these metrics, the effort is an inevitability and imperative. In fact, the circulatory system can be the game-changer in the next 10 years.          

If the industry has progressed with Rs – recycling, reducing, reselling, refurbishing, repairing, and renting – some companies are still unsure regarding the standard of the challenge. Even though some players have good intentions, the volume of garment production is estimated to grow about 2.7 % yearly between this year and 2030. Therefore, the goal needs to set circular techniques, take action for scaling solutions and handle scalability challenges. 

 

The Problems for Scaling Circularity    

Methods where the value was made in circular systems differ from the methods made for linear systems. In fact, a garment can make value over again through repeated rental, sale and resale, repaired, being sold, refurbished, returned, resold, or recycled. The top retailers were involved in this value-multiplier strategy.     

For example, the Selfridges’ Project Earth wants to assist customers in buying the ‘pre-loved’ items or rent and repair. Depop, an app for peer-to-peer social shopping resale, view a 300% increase yearly for sold items during the pandemic crisis. It shows that the consumer demand for pre-owned purchases continues to rise. 

Meanwhile, the following are the main barriers that avoid scale adoption:

• Circularity comes with a complexity web of logistics

Recently, transactions in resale are peer-to-peer wherein consumers decide if the resale value is energy and time-efficient to photograph, wash, send, describe, and package. The analysis of ‘Fashion on Climate’ shows that in 2030 about 20% of garments require to be listed with circular business models, which needs greater scale. For example, in a subscription rental framework, the main challenges are logistical, which includes delivery and laundry.   

• Getting value needs recyclability or durability 

If there’s no recyclability or durability, there can be product value erosion. Refurbished products could have a high cost if the refurbishment was reliably carried out. It may be challenging since clothes are stained or stretched and accessories marked or scratched. Moreover, recycling can be difficult if the garments come with mixed materials. 

• Attracting customers need to overcome stigmas

Even though circularity increases, it remains a conceptual idea to terms like up-cycled, recycled, refurbished, and repaired still come with negative connotations. In addition, customers want to return orders with the refund incentive. 

 

How to Scale Circularity? 

The ecosystem of apparel is fragmented. Therefore, standardized solutions will not emerge anytime. However, there are various strategies led by a diverse group of players and maintain based on 3 foundational potentials:

 

• Accepting sustainable design 

The concept of circularity can begin on a drawing board with the materials and textiles that were used by designers for their productions. For example, it is a good solution to design for zero waste, which needs product and material innovation.   

With this, companies must incubate, invest, test, and pilot alternative procedures and materials for the circulatory system. It is also a good idea to make momentum through collaboration and the development of tools. Companies should radically lessen waste production. They must train and support suppliers to reuse and reduce chemicals, fiber, and use compostable packaging. It is also helpful to improve designers’ skills and induce circular design innovation. 

 

• Support customer adoption    

Adopting circularity can be a natural way for younger customers. On the other hand, older consumers need encouragement and education. Most consumers believe that there is a problem with hygiene on second-hand clothing.    

Digital involvement is essential as the circularity grows. If the circulatory system continues, companies must provide rental options like the option to get products for rent or get subscription services. They must also offer care and repair tips and develop data techniques to inform business decisions. 

Companies may also allow peer-to-peer deals like rental and resale and enhance the deal with digital solutions and logistics.   

• Reverse logistics 

With the help of reverse logistics, companies can recover the items from secondary resale and disposal. Brands join forces with intermediaries to implement the process. In this way, companies must enhance store networks to make in-store circulatory hubs. They should design reverse logistics to improve value retention through partnering with a reliable intermediary. 

 

Advocating the Circularity’s Future

Circularity is among the essential business trends for the next 10 years. Collective action is needed wherein the customers, fashion companies, and participants collaborate for the value chain. 

It is expected that mass-market companies in scaling their efforts. As customers are more involved with issues on sustainability, circularity will be the solution to unlock the opportunities to improve the future of sustainability.        

 

Conclusion 

To sum it up, circularity in the fashion industry this 2021 can greatly contribute to the reduce the impact on the environment. Companies need to apply the best strategies to produce the best results.        

 

Building a good relationship with your customer is an important aspect every business owner should pay close attention to. A good customer relationship is essential, especially if your business offers service instead of products to the people. 

Generally, buyers would love to spend their money to avail of a product or service from a business known to provide good customer relationships and experience. According to the statistics, business owners who build a good relationship with their clients have a 70 percent chance of advertising their current clients’ services. 

No matter how great you are in building customer relationships, you are still looking for ways to improve it. One best strategy is to make use of the customer management software. Daylite is a good application you can use to boost your business relationship with clients. Customer management software is ideal for service-based and small businesses. 

But keep in mind that you still need to exert some effort to build a good customer relationship while using your trusted customer management software. Keep on reading to know the right practices you should do and maintain to build a harmonious and beneficial relationship with your current and potential clients. 

Ask Feedback from Your Customers

Many business professionals claim that clients love to avail products and services from businesses and brands that allot enough time to know their customers and respond to their comments. One way to ensure that you are building a good customer relationship is to ask them about their opinions about your services. You can use their feedback to improve the services or products you offer. 

If you are just starting your business, you may not have an idea about the proper way of asking for feedback from your customers. One of the strategies you may use to get their feedback is to use different online platforms available today. 

Considering that more than 70 percent of customers are using their phones and other gadgets the whole day, asking for their feedback will just be a piece-of-a-cake for you. If you are still searching for platforms you can use, consider using SurveyMonkey to create a survey for your clients. You may also create a web form and upload it to your business website where your customers can easily write down their opinions about your products or services. 

Improve the Way You Communicate With Your Customers

If your business is all about providing services, you know how important having a good communication with your customers. Yes, this is also a crucial factor if you provide actual products, but most aspects included are more personal if you offer services. 

To ensure that your business or company will stand out among your competitors, make sure that you will provide your customers with a better experience and leave a positive impression. The experience of your customer plays an essential role in separating your brand from the competition. In that aspect, expect that it will overtake your product and its price. 

Another important tip to have a good communication with your customers is to connect with them through the platforms they used to subscribe or follow your brand. For example, if most of your clients avail your services through social media channels, there is a high chance that they will send queries and responses to you through either Instagram, Twitter, or Facebook. Communicating with your clients through online platforms is way better than calling or texting them. 

Make Sure to Solve the Complains and Address the Negative Feedbacks of Your Customers

As a business owner, there is no doubt that one of the worst things you could experience in this industry is to receive negative feedback or complaints about the services and products you offer. This is because it can pose a stain to the reputation of your business. In most cases, if your customers find something negative about your product, they will tend to post their experiences on social media, which has a wide array of users around the world. 

But, if you are going to address these complaints right away, all of these can be prevented. Take note that there are some strategies you can do to give your customers a positive experience after having a negative one previously. You can make up to this situation and ensure that your customers’ every complaint is being addressed immediately. Your internal policy should include how you and your employees handle these things. Aside from that, it would be best to give your employees the right training on how to address this kind of issue. 

Loyal Customers Deserve a Reward

Your current customers have had spent a lot for your business compared to the new ones. Besides that, you should also understand that loyal customers spend more than 67 percent of their money than new ones. In other words, providing your regular customers with daily rewards won’t affect the stability of your income. 

For example, one best way to reward your customer is to invite them to join a referral or loyalty program or offer them limited-time coupons. Through this, you are encouraging them to purchase more from your company. Not only that, but they will also notice that you see their importance as your regular customers. 

Conclusion

Keep in mind that the quality of the services or products you offer is only one of several factors you should pay attention to succeed in the business industry. You can also achieve business success by treating your clients the way they deserve to be treated. 

There is no doubt that understanding the needs and wants of your target customers and building a good relationship with them requires a lot of money, effort, and time. But take note that all of the things you invest in this industry will pay off in the future. You should make your customers know that you are being thankful to have them. Always make them feel that they are playing a big part in the overall success of your business. 

No results found for 4CA556D5.docx (1,005 words, $0.11) on 9 Apr 2021 at 3:40 GMT.