Starbucks' headquarters in Seattle. (GeekWire Photo / Kurt Schlosser) Starbucks is cutting 1,100 corporate positions as part of a bid to create "smaller,

Starbucks to lay off 1,100 corporate workers, updates remote work policy – GeekWire

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A Look At The Fair Value Of Starbucks Corporation (NASDAQ:SBUX)

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NEW YORK (AP) — The superstar run for Nvidia’s stock the last few years has been astonishing. So was its tumble Monday, which caused $595 billion in wealth to vanish. That’s about as much as PepsiCo, McDonalds, Starbucks and Target are worth, combined.

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Starbucks is changing vibes starting today

Cybersecurity experts have raised concerns about Termite’s rapid emergence as a significant threat actor. The group has already targeted organizations across various sectors, including education, automotive supply chains, and government entities.

Starbucks Third-party Ransomware Attack, Termite Group Claims Credit

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Experts expect new legal challenges against numerous agency cybersecurity requirements, including incident reporting mandates and rules governing critical infrastructure sectors.

Starbucks confirms Blue Yonder attack impacted employee scheduling platform | Cybersecurity Dive

While companies like Amazon and Starbucks are calling employees back to the office, other big organizations are maintaining more flexible work options.

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Starbucks

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In Vietnam, Porn Is Better Served and More Accessible Than Starbucks

Mark another notch in Polygon’s belt. Following its successful collaboration with Reddit earlier this year, the Ethereum sidechain recently partnered with Starbucks to issue NFTs to the general public. Which, if successful, could drive mass adoption. The ubiquitous coffee shops’ massively successful gift card and loyalty programs, mixed with the 25 million people addicted to using the Starbucks mobile app, translate into more than $1 billion in stored value. And now, you can add NFTs with real-life utility and rewards to the pot. The Polygon PoS sidechain inherits Ethereum’s security, but it’s faster and much cheaper to use.  The NFT marketplace Nifty Gateway will provide the technology behind the Starbucks Odyssey program. According , the platform will be a “Web3-powered experience” that “will allow Starbucks Rewards loyalty program members and Starbucks partners (employees) in the United States to earn and purchase digital collectible stamps in the form of non-fungible tokens (NFTs).” to the press release The real-life utility, in this case, will be access to exclusive events, merchandise, and Starbucks collaborations with artists. Starbucks Addresses ESG Concerns By Working With Polygon When it comes to launching NFTs, one of the main obstacles for brands is the perception that cryptocurrencies are burning the ocean. Environmental, Social and Governance (ESG) concerns regarding cryptocurrencies are at an all-time high, and NFTs in particular get called out for their negative contribution. To nip those concerns in the bud, Starbucks decided to work with Polygon’s “carbon-neutral network.” The press release quotes Ryan Butz, Starbucks VP of marketing as saying: “Building Starbucks Odyssey using technology that aligns with our sustainability aspirations and commitments is a top priority. We took a very thoughtful and thorough approach when evaluating which blockchain to utilize and Polygon’s fast, low-cost, and carbon-neutral network is the perfect foundation for our first digital community.” The Polygon network is carbon-neutral now. It “has to becoming carbon negative by the end of the year and has already offset its network’s cumulative CO2 debt.” The company claims that after the merge, with Ethereum’s transition to proof-of-stake, the Polygon network’s carbon footprint will be 99.91% smaller. committed The press release also quotes Polygon’s Co-Founder Sandeep Nailwal with a much less exciting attribution “as a leading infrastructure provider enabling people and technology to collaborate and exchange value globally and freely, Polygon provides the ideal launchpad for Starbucks’ entry into Web3.” How Does Starbucks Odyssey Work? The NFT-based system revamps the company’s renowned loyalty program. For a better understanding of the inner workings of the platform, it’s time to change press releases and .  It all starts with a promising idea, better explained by Starbucks VP and CMO Brady Brewer, “For the first time we are connecting our Starbucks Rewards loyalty program members not just to Starbucks, but to each other.” quote the Starbucks one That means that people will own Starbucks NFTs and there will be a marketplace for them to sell them in, hopefully at a profit. Some people will earn NFTs as rewards by participating in “journeys,” which are “a series of activities, such as playing interactive games or taking on fun challenges to deepen their knowledge of coffee and Starbucks.” That might sound like a non-starter, but the company’s mini-games are already very popular. Other people will opt to outright buy the NFTs, which they call “limited-edition stamps” and are rarer than the rewards ones. Starbucks will try to hide the complexities of cryptocurrencies and make the onboarding experience simple. “Limited-edition stamps will be available for all members to purchase directly with a credit card.  No crypto wallet or cryptocurrency will be required.” On the other hand, these “stamps” will include crypto’s desired characteristics and perceived exclusivity. Each one will include “a point value based on its rarity.” The Starbucks press release ends with an interesting promise, “as stamps are collected, members’ points will increase, unlocking access to unique benefits and experiences that have never been offered before.” Buy/no buy recommendation This one’s hard, as there’s not enough information about the product available just yet. We don’t know how the Starbucks’ NFTs will look like, or even who’s doing the art. The real-world utility is apparent and commended, but there’s the distinct possibility that the company will announce new ones as soon as their marketing department comes up with them. Will they strike a chord with the public, though? That’s the real question. If you think Starbucks' tried and tested brand will carry these NFTs to new heights, consider investing. If you’re not sure about Starbucks’ potential as a technology company, and think the coffee makers should stay in their lane, you may want to steer clear of their NFTs. You can still earn some by buying Caramel Frappuccinos and participating in the loyalty program. Before making a decision, though, read about how Reddit managed to bring back to life a failed corporate NFT project. The company’s relentless attitude and language prowess turned their much-mocked profile picture NFTs into a roaring success. Building on Corporate NFT Success: Reddit Collectible Avatars In what might be the corporate NFT story of the year, Reddit managed to successfully launch an NFT collection in the middle of a bear market. Granted, Reddit has an enormous user base, but that’s precisely the thing. That user base is extremely anti-NFTs. In fact, there are few websites that have a more extreme view of the misunderstood digital assets. Reddit managed to sell the product to that unfavorable audience by avoiding all crypto jargon and calling them “blockchain-backed collectible avatars.” For Redditors and users, wallets are called “vaults.” At first, all the pieces were reasonably priced. Between $10 and $100 a pop. Plus, to get the ball rolling, Reddit airdropped and gave away hundreds of Collectible Avatars. With that sleight of hand, the company managed to onboard millions of people into Web3. So far, the Reddit community has opened three million “vaults.” There are more vaults than OpenSea wallets, and that’s the biggest NFT marketplace that’s been operational since 2017. And speaking about OpenSea, the secondary market for Reddit’s Collectible Avatars moved there and the pieces are selling at a hefty markup. In some cases, 50X the original price. Reddit’s Collectible Avatars are also Polygon NFTs.

Starbucks’ Loyalty Program Introduces Polygon NFTs With Real-Life Utility

Recently there was this news where a single customer decided to buy a bunch of americanos (roughly $1071 worth) just to buy 17 "summer bags" that was launched by Starbucks Korea.  This event just to show how Starbucks Korea succeeds in bring customers to their doorstep despite the pandemic. Here is why I think this phenomenon was possible. 1. Resale market value is crazy for these collectibles. (Scarcity, Exclusivity) If you have the scarcity of the Nike limited edition shoes drops in the US, in Korea, we have the scarcity of the Starbucks seasonal products. (Scarcity and Exclusivity plays a big part) Once sold, never resold again. Another keyword would be the exclusivity that comes with buying the bags. (3 special drinks, 14 normal drinks) to collect e-frequency points to get a chance to exchange the coupon these exclusive items (if they are available) You have to at least buy 17 drinks So with the awesome mix of scarcity and exclusivity, the resale value of these "complementary bags" is explosive. They cost in the range of 100~190 dollars per bag. It also created a third market where people sell their stickers and send them to other people so that they too can receive their bag in a more speedily manner. 2. It's easy to order with the launch of "siren order" application What's a "siren" order? Starbucks Korea was the first to launch the mobile-based ordering feature which enables consumers to order a drink online and pick up their orders offline without waiting in line. This was proven effective in shortening long lines and speed up the waiting time for large bulk orders. This also reduced the need for bringing the membership card every time to order to collect points and exclusive stickers. So with this feature in place, Starbucks Korea was ready for the non-contact business way before the COVID-19 Crisis. 3. They have drive-throughs and online app deliveries. Fast-food chains have drive-throughs why not coffee? Starbucks also created drive-thoughs cafes to keep up with people who are too busy to park-order-wait. Now that investment is paying off especially during this pandemic. You don't have a car? Don't worry we deliver as well. Online delivery order is the culture in South Korea, literally everything is delivered to everywhere as long as they have a local biking agency to take that order and deliver it to your house. Starbucks Korea is integrated into this system so deeply you can payment them online and just receive your prepaid drink in the comfort of your house. 4. It's very Instagram-able and considered a valuable "social currency" Everyone wants to be noticed in the Social Network space. and could get people talking about it starting with the luxurious design and exclusive back story on the "journey" in getting that specific bag. Starbucks products do create "social currency" 5. Starbucks Mobile Coupons are literally "Everywhere" In Korea, people have these mobile coupon system where you could gift a specific product to your friend through your personal messenger.(Kakaotalk in Korea or What'sApp in US) Also, So most birthday presents among "working professionals" would be a cup of ice americano through these coupons. These coupons makes Starbucks coffee Starbucks is considered as an "affordable luxury" product here. easy to buy, send, and pick up whenever, whereever. A closing note, there might be a lot of other reasons why people flock to starbucks during the pandemic but these are main common reasons I think why people can't get enough of starbucks korea's product despite the crisis.

Why is Starbucks Korea Doing So Well Despite the Pandemic?

One Friday this July, I got about McDonalds. So excited that I stopped at one before work in the morning and left with French fries and a coffee. excited Fries for breakfast. McDonalds had just announced that it would be giving out free medium fries every Friday with a minimum purchase of $1, through the end of the year. Social media and even over the generous offer. mainstream media went gaga Free food! There’s perhaps no better a siren call for the budget-conscious millennials segment. But, McDonalds — widely known for its marketing prowess with tactics such as Happy Meals, the Monopoly Game, and the “Monster Mac” and “McRib” sandwiches — isn’t exactly in the business of giving away free food. To take advantage of the free fries deal or a whole slew of other similarly rich deals, you need to use the McDonalds mobile app. If there’s anything millennials like better than free food, it’s mobile apps. That’s right, you can’t get this free food with coupon clippings or mailers. You have to use the mobile app, where a couple screen taps and swipes will get you a massive list of such deals, along with convenient mobile ordering functionality. The McDonalds mobile app uses deals to entice and mobile ordering to fulfill. McDonalds has had a mobile app for a couple years now, but only recently has the company began an enormous effort to drive mobile adoption vis a vis these jaw-droppingly attractive deals. The reason for the recent push is two-fold: McDonalds believes the mobile-only deals will drive mobile app adoption McDonalds believes that encouraging repeat usage (through repeat offers like the free fries offer, which is good through the end of the year) will encourage habit formation, which can engender . customer loyalty While it may be too early to say the customer loyalty goal will be met, it does appear the strategy is indeed driving mobile adoption. Jefferies analyst Andy Barish estimates that McDonalds’ mobile app . has had a 20–40% increase in active users in just the past few months Mobile loyalty is brewing out of Seattle, too. One of McDonalds’ biggest competitors is perhaps even further along than McDonalds when it comes to mobile experience. The Starbucks app has an estimated 23 million users in the US alone. You can’t go into a Starbucks without seeing loyal customer after loyal customer scanning their mobile app-based barcode to make a payment or pick up an order. But unlike McDonalds, the Starbucks app offers users several other major features that have helped it become the phenomenon it currently is. The Starbucks mobile app offers mobile ordering, mobile payments, and a gamification-based loyalty program. Why mobile apps work so well for restaurants Mobile apps drive extremely high levels of engagement. It’s no wonder that the average American spends more than four hours per day on their smartphone, with more than 90% of that time spent using mobile apps. Restaurant operators believe they can tap this mobile fascination and turn it into long term customer loyalty and repeat visits. Additionally, mobile apps enable functionality that is huge valuable to fast food restaurants, whose profitability is directly related to how many customers they’re able to serve in a 24-hour period. Here are some of the features and functionality that make restaurant loyalty apps so appealing: Mobile ordering With mobile ordering, your customers no longer need to queue in agony behind an indecisive customer whose careful consideration of the menu can single-handedly bringing order flow to a standstill. By offloading some of the order taking to mobile apps, McDonalds does two important things: It avoids creating bottlenecks at cashiers (which can cause rubber-banding effects down the food prep chain), and Increases the lead time allowed for order preparation (because the customer still has to physical arrive at the selected McDonalds location for pickup), which enables smoother operations. Both of these effects drive top and bottom line growth in fast food restaurants. Also, consider that mobile ordering makes it much easier to offer upsell or cross-sell opportunities based on actual data. “Would you like fries with that?” It’s much easier to upsell/cross-sell when your app does it automatically. Push notifications Sure, you could wait for your tummy to grumble to know when it’s time to eat. Or, you could have a McDonald’s push notification suggest a Bacon Smokehouse Burger for lunch, right when it knows you’re most likely to be ordering lunch. Top of mind, top of wallet. Push notifications can increase the likelihood that your restaurant’s patrons think of you when it’s time to eat. Another common use case for push notifications is to let users know about new or promo items on your menu. Why wait for a customer to learn about new menu items in-store, when that knowledge could be reason enough for a visit? If done right, push notifications can be a powerful way to get customers to try different or new menu items. Loyalty: gamification and rewards Gamification is one of the biggest trends in mobile app design, and restaurant loyalty apps are one of the most fitting use cases. By adding game-like mechanics to their mobile apps, restaurants can make it fun and even exciting to come back again and again. Examples of gamification in restaurant apps include: for trying new menu items Achievement milestones for every purchase, or for attaining achievements, that go towards leveling up to a new membership tier that has its own unique discounts or perks. ( ) Earning points Here’s how the Starbucks point-based reward system works between friends or other app users. Who can reach the highest level? (Who can eat the most premium (read “high margin”) menu items before the contest ends?) Friendly competition There’s something about leveling up to “gold status” that is rewarding in itself, never mind the free food and drinks headed your way. For other restaurants, the race to “catch up” is just getting started. The good news is that — besides McDonalds, Starbucks, and a handful of other major players in the space — the majority of restaurant businesses are very much in the same situation. Many are now recognizing the growth potential associated with mobile apps and are beginning to make plans to offer better and more engaging mobile experiences. As a with an emphasis on the food & drink category, has created loyalty mobile apps for some of the world’s biggest restaurant brands and social media influencers. top-rated mobile app development company CitrusBits says Harry Lee, CEO of CitrusBits. “Over the past few years, we’ve helped Burger King build an exceptional mobile app that is currently used by millions of users throughout Latin America. The app has already delivered more than 1,000% ROI for Burger King,” “We are now in the process of planning significant feature enhancements to the mobile app, to allow Burger King to further expand its growth potential.” When it comes to restaurant mobile strategy, Lee believes that the name of the game is driving engagement and creating compelling value for consumers. Lee explains. “In the restaurant business, it’s critical to engage your consumers even when they aren’t at your restaurant. Mobile apps are the single best way to do this. If you create compelling value — time savings, monetary savings, or a fun experience — and do it in a way that is really engaging, you’ll get the ROI you’re hoping for,”

McDonalds and Starbucks on Your Phone: Why Mobile Apps Are Now First on the Menu

Starbucks is renting me I’ve never had a cup of coffee in my life. Not one. In fact, the only time I ever go to Starbucks is to use their restroom or their wifi. Needless to say, I’m not a profitable customer for Starbucks, nor am I a valuable member of their “Community” in any way. Yet I’ve personally owned Starbucks (SBUX) stock for much of the past decade. In theory, my training as a financial analyst makes me capable of determining the value of a company like Starbucks even if I’m not a consumer of their products. And as an investment, you could argue this decision made sense (as has just about any stock purchase over the past decade). But a few important things stand out about this position in my portfolio: I receive absolutely no utility from owning this stock other than financial reward Starbucks receives absolutely no benefit from me owning their stock, as I’m not a customer or an evangelist My ownership stake is purely a 3rd party transaction. The Incentive Mismatch This mismatch of interests between shareholders and companies is not unique. Looking deeper across my personal equity portfolio, the majority of companies that I own are not products or companies I care about in any way, shape or form. I have no personal attachment or loyalty to most of them, I don’t follow them on social media or engage with other stakeholders, and I don’t do anything to influence the outcome of my financial stake. Conversely, and unfortunately, I don’t have a financial stake in ANY of the products, services or assets that I actually use on a daily/weekly basis, despite having a real passion for, and emotional attachment to, these products. These companies and services would absolutely benefit from me having a financial stake in their success, which would lead me to evangelize even further and utilize their services even more than I already do. Similarly, I would benefit financially and psychologically from owning a piece of the companies that I am actively helping to grow. Frequent flier miles and loyalty rewards come close to achieving this effect (I fly Delta as often as possible to earn miles, and I shop at Whole Foods & Amazon to get cashback on my credit card). But those programs only provide me with small personal savings, and my rewards are independent of the success of the company itself. Whereas an ownership stake would incentivize me to look beyond just my own use. Take a look at my actual schedule on Saturday this past weekend: My wife and I took our kids to breakfast at , one of our favorite local establishments (privately owned) Gulp We played at the public park (no ownership) We made the kids Nutella (privately owned) and Jelly sandwiches with Pirate Booty (B&G Foods) for lunch We packed both kids into my Volkswagon Passat (public stock available in the US only as an ADR) and listened to the “Hello Everybody” kids CD provided by (privately owned company that provides my daughter’s music class, which we also pay for) Music Together We took our kids to their favorite indoor rock-climbing place, (privately owned) Sender One Climbing We came home and watched a documentary on jungle animals (BBC documentary, privately financed) Planet Earth II We played Osmo on the Ipad (Osmo is ) VC Funded After the kids were asleep, I opened a bottle of with my wife, one of our favorite vintages (Privately owned) Erath Pinot Noir I happily spent money on a variety of products and services in order to enjoy a 13-hour day with my favorite people in the world, while doing our favorite activities. We gained immeasurable happiness with no financial reward. Simultaneously, on every corner surrounding our adventure, others were drinking coffee at Starbucks and potentially impacting my financial future. This is a complete economic failure of incentives. Tokenizing the World with Blockchain One of my favorite concepts born from the advent of is the idea of “ ”. For those not familiar, tokenization essentially creates fractional ownership of real assets that can trade freely on exchanges via tokens on the blockchain. Often, these tokens have code written into them called smart contracts that determine legal and monetary rights. blockchain technology Tokenizing the World There is a school of thought that all assets, services and businesses will eventually be tokenized. : Lower fees, fractional ownership, faster deal execution, free market exposure, larger investor bases, etc. This is not dissimilar to what we’ve already seen with ICOs. ICO Investors give companies money to build products that the investors themselves ultimately want to utilize, thereby potentially giving the investor both a financial reward (as increased demand for the service leads to an increase in the value of their token), and an emotional reward (the positive utility gained from using the technology). Companies are leveraging their communities of passionate users to also fund the growth of their company. The advantages are undeniable But perhaps most importantly, it aligns business owners with their customers. Looking back at this past Saturday, I would happily combine my emotional reward with that of a potential financial reward. Unfortunately, each of the products or services used throughout my day were either completely uninvestable by me, or required me to buy stock in larger conglomerates that don’t isolate the product/service that I actually care about. One day soon though, via tokenization, these companies will be able to sell ownership stakes directly to me, or I’ll be able to buy a stake on an exchange at any time after discovering their services. In fact, these companies may require that I own a stake (token) in order to even use their services. I’ll be able to create a portfolio that mimics my actual life, and become a member of different communities built specifically around a shared interest in these same companies. Until then, someone please alert me if people stop drinking coffee. For more information about investing in Arca or the Arca Funds, Accredited Investors and Qualified Institutional Buyers can access our Private Investor Portal by . CLICKING HERE Disclaimer: This commentary is provided as general information only and is in no way intended as investment advice, investment research, a research report or a recommendation. Any decision to invest or take any other action with respect to the securities discussed in this commentary may involve risks not discussed herein and such decisions should not be based solely on the information contained in this document. Statements in this communication may include forward-looking information and/or may be based on various assumptions. The forward-looking statements and other views or opinions expressed herein are made as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated and there is no guarantee that any particular outcome will come to pass. The statements made herein are subject to change at any time. Arca Funds disclaims any obligation to update or revise any statements or views expressed herein. In considering any performance information included in this commentary, it should be noted that past performance is not a guarantee of future results and there can be no assurance that future results will be realized. Some or all of the information provided herein may be or be based on statements of opinion. In addition, certain information provided herein may be based on third-party sources, which information, although believed to be accurate, has not been independently verified. Arca Funds and/or certain of its affiliates and/or clients hold and may, in the future, hold a financial interest in securities that are the same as or substantially similar to the securities discussed in this commentary. No claims are made as to the profitability of such financial interests, now, in the past or in the future and Arca Funds and/or its clients may sell such financial interests at any time. The information provided herein is not intended to be, nor should it be construed as an offer to sell or a solicitation of any offer to buy any securities. This commentary has not been reviewed or approved by any regulatory authority and has been prepared without regard to the individual financial circumstances or objectives of persons who may receive it. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

Tokenize the World: Why do I own Starbucks stock if I don’t drink coffee?

Taking Crypto Mainstream: Crossing the Chasm Using Starbucks’ Playbook

If you’re pleasantly surprised by the local ads you’ve seen lately, geofencing technology may be responsible. Competitor geofencing is a marketing strategy that has taken the business by storm. Geofencing technology lets businesses target the most qualified audience by simply setting virtual boundaries. When targeted clients enter this boundary, ads or push notifications will be activated enticing them within that boundary to visit the storefront. It sounds like a story from a sci-fi magazine, but it’s real life – and every day, more and more companies are using this technology. Geofencing technology can be used for example, on Facebook, with contextual advertising, and in many other cases. In this article, we’ll overview geofencing technology and talk about how you can benefit from it. What is Geofencing? Geofencing definition is a location-based service in which an app uses GPS, RFID, Wi-Fi, or cellular data to trigger a pre-programmed action when a mobile device or RFID tag enters or exits a virtual boundary set around a geographic location. Besides, it is essential to understand what is geofence. In simple words, it is a virtual perimeter for a real-world geographic area. The geo-targeting, also known as location-based marketing, is a well-known example of geofencing. It uses geofences to target mobile users in specific geographic locations. For example, shoppers using an in-store app may be familiar with geofencing. A store or supermarket can be surrounded by a geofence that detects the user’s location and triggers app notifications. When entering the shop, the application will notify potential customers about certain offers and promotions. Geofencing Market Overview Given the mobile-centric nature of a geofence or white-label geofence, its adoption and effectiveness in meeting targets across many industries are on the rise. There are many uses for geofencing, and statistics support the point of hyperlocal tracking and RFID marketing. Geofencing is compatible with smartphones; 92% of The average consumer spends a day on their mobile device; 5 hours complete an action after receiving a message when approaching a specific location; 3 out of 4 consumers visited a store after receiving a location message; 53% of shoppers The number of smartphone users exceeds 220 million people; 22% of companies say they use hyperlocal targeting; prefer personalized ads; 71% of consumers 80% of shoppers use their mobile devices in a physical store; 77% of customers will purchase if the ad includes a call to action; Geofenced mobile ads have . This is due to the hyper-local nature and the granular targeting allowed for geofences. twice the click-through rate The Future of Geofencing There are some caveats to geofencing, especially regarding privacy in marketing. Just 4 years ago, Massachusetts was one of the first states to pass a consumer protection law that objected to location-based advertising to target people based on specific medical diagnoses. The Attorney General blocked an ad campaign by Copley Advertising, which a Christian organization hired to geofence around women’s clinics, that would target women in the waiting room or nearby anti-abortion ads. However, despite the security questions, it doesn’t look like geofences will soon lose popularity. , the geofencing industry is expected to grow by more than 27 percent by 2022, driven by “technological advances in the use of spatial data and an increase in applications across many industry verticals.” According to a MarketsandMarkets press release What is Geofencing Used For? There are many ways marketing specialists use geofencing. For instance, they can send location-relevant content to mobile users or explore offline behavior from location data for audience segmentation, personalization, retargeting, competitive intelligence, etc. Besides, businesses can use geofencing for security, time tracking, vehicle tracking, and more, or it can be used in home automation, children’s location services, and even law enforcement. With the rise in popularity of , and once the geographic area is defined, the possibilities for what can be done with geofencing seem endless. mobile devices Main Benefits of Geofencing What better help to understand your customers’ steps than their real journey via mobile? For most people, a gadget is an extension of their lives, making it the endpoint of interaction from which to turn your brand or app into a meaningful part of their everyday lives. Here are just a few ways a geofencing app can quickly add value to your business: Reach out to mobile users anytime with the level of interaction they prefer Geofencing can generate distinctive levels of interaction, from push messages to in-app content, emails, and advertisements. Whether a user has subscribed to receive notifications, these touchpoints can cause relevant content to appear in your app other than push messages. The geofencing app can provide real-time, accurate targeting These touchpoints can target users within 50 meters, meaning you can avoid messages that fall into the wrong context and thus avoid missed opportunities to connect and deliver value through your app. Work with high conversion The proof of the power of “place” is the click-through rate of tricky conversion rates. General notifications sent via mobile devices have a negligible CTR of 2-5%, while messages sent based on someone’s precise location using geofences as a trigger have a 3-5 times higher CTR. Make your business scalable with fewer human resources There should be no limit to the number of geofences you can set up in your markets or specific locations since there is no limit. You can also group geofences into campaigns and create them in bulk by country or in small, precise explosions in a few clicks. Why Do Companies Need to Use Geofencing Marketing? Geofencing is an efficient way to reach your users through mobile devices. Not surprisingly, according to our latest research, location-based notifications are 10 times more effective than standard push notifications. Mobile geofencing incorporates location and behavioral data into your app to improve audience segmentation and delivery of relevant notifications. It has proven to be an effective tool because it is personalized, reaches the audience on time, and is highly targeted. Some use cases for geofencing marketing: Attract visitors to your places by adding geofences to POIs (points of interest) such as airports, hotels, or tourist spots, and send them attractive notifications that generate urgency to convince them to visit your business. Interview customers when they leave your POIs. By getting feedback from your customers, you get to know your business and store experience better. Don’t forget to give incentives or rewards to convince your customers to take the survey. Capture customers at competitor locations by adding geofences to competitor locations to influence consumer behavior by giving them a better deal if they visit your store. Using this tactic, you can also determine which segment of your customers frequents your competitors’ businesses. Redirect customers who have visited a specific location or participated in your campaigns to make a special offer or promote your loyalty program. How Is Geofencing Implemented in the Marketing Strategy? 5 Important Tips Before implementing geofencing, you must consider the journey of your customers. Where do they usually go? What other businesses are they interested in? What questions do they ask? When you understand your clients, you can create geofencing campaigns that are more likely to attract them. Tip #1. Make your geofence the right size Companies are excited about geofencing, and in some cases, even too much. This can lead to too large geofences, not leading to results. For example, if you have a competitor 30 minutes away from your store, it is unlikely that consumers will visit your store on the same day. That’s why you want to create small, compact perimeters. The general rule of thumb for geofenced advertising is that your target area is only a four to five-minute walk from your store. You can increase this time to four or five minutes of driving in some cases. Remember, you want users to feel comfortable visiting you. In some cases, your company may not need to worry about Conversion Zones. For example, an e-commerce store might target a geofenced marketing trade show. However, the goal of this company is to encourage users to visit their website, not a physical location. Tip #2. Know your customers Your target audience is critical. If you understand your clients and what they want, you can create a target area to deliver results. Besides, you can design ads that will attract customers and encourage them to buy. If you’re not sure who your target audience is – or updating your target audience – look at the data you already have. For example, if you are active on social media, connect with your customers and see what they say about your business, services, or products. Tip #3. Make your ads work What is more effective – “Buy one dish and get one free, only today!” or “Come to our special dinner!” Of course, you invite users with each of these, but you are much more specific and precise in the first call to action (CTA). It is also worth noting that you must design not spammy or self-serving ads. For example, if you’re promoting a new product, encourage users to try it rather than buying it. With this approach, you naturally lead them through the sales funnel. Tip #4. Review your data regularly Optimize the success of your geofencing marketing campaign and your other digital marketing efforts by reviewing your data regularly. Otherwise, you won’t know how your campaign is progressing. If analytics is uncharted territory for you, you can always work with a geofencing marketing company. With technology like MarketingCloudFX, you can also view geofencing ROI. For example, if a user visits your website after receiving an ad but calls later to place an order, you might see this in MarketingCloudFX. Tip #5. Use all your targeting methods In geofencing marketing, you can use several external marketing methods, including: Contextual targeting It shows ads relevant to the page’s content, such as news articles about local restaurants. Content Targeting It’s a tool that targets the keywords used in a search and the intent of such keywords. If you have content for the keyword “restaurants with private dining areas,” you should ensure that the content discusses your private dining area and options. Retargeting A marketing targeting strategy shows ads to users who have viewed a product on your website, such as after visiting your storefront. Dayparting A method targets users at specific times, better known as ad scheduling. For example, if you have a target audience active on weekdays, you can only run promotions from Monday to Friday. Like many digital marketing tools, geofencing marketing will complement your digital marketing strategy. For example, it will inform your team when your target audience is active and how to promote them after visiting the store. Top-5 Companies Using Geofencing Apps Here are some real-life geofencing examples, including some of the best use cases by big brands. Starbucks As with many other geofencing examples, Starbucks uses this technology to send push notifications to interested customers nearby. One such example is their “happy hour” promotion, where certain drinks are half price, and users nearby receive special push notifications notifying them of the promotion. They can infer when a customer is nearby or walking in the door. To deliver the appropriate push notification, they can also use geofencing marketing to categorize their customers into categories such as whether the user is a cappuccino or frappuccino drinker. Amazon Amazon’s new location service makes it easier for customers to add location functionality to their apps. In June, business customers can implement the feature using high-quality data from leading providers to provide maps, points of interest, geocoding, route planning, geofencing, and asset tracking. The service can track items such as packages delivered to customers. And embed maps directly into apps to add a map to their website or app to let people know where they are. Importantly, businesses can use geofencing features to offer timely deals to customers when they are close to a retail location. Uber Los Angeles International Airport has banned taxis, Uber, and Lyft from picking up passengers. But the airport’s geofence allowed Uber to bypass this problem. When users get off the plane and think about getting home, the Uber app will notify them about nearby available cars. It is very convenient and precisely what customers need at the moment. They have to walk to the airport where the Uber will be waiting. This is one of many geofencing examples that show how companies can increase sales by creating geofences in the right place. Volvo Using geo-fenced marketing, the New York dealership attracted 500 new leads to its website and 132 shoppers to its showroom during the 30-day trial period of the campaign. The marketing team built geofences around areas with a high concentration of car buyers, including around local competitors, to target users with banner ads. They also set up a conversion zone around their dealership to track who visited the showroom. Volvo has used the tool to increase brand awareness and attract clients who have already gone to the store to buy a luxury car. Burger King One of the best examples of geofencing in geoconquest is the Burger King Whopper Detour campaign. The bold move saw Burger King troll McDonald’s by offering its iconic burger for as little as 1 cent, but only to users who downloaded the BK app and then ordered through it while visiting a McDonald’s restaurant. With careful planning ahead, Burger King collected data from thousands of McDonald’s restaurants and then created geofences around each one to launch the app promotion. Hailed as one of the best examples of geographic conquest allowed them to grab tons of competitors’ customers and get tons of free publicity at the same time! This is one of our favorite examples of geofencing ads. Summing Up Remember that geofences are abstract boundaries, so you can create any virtual geofence since the whole world is at your service. The method is economical: open the map, select the desired territories, and immediately start tracking them. Impressive, right? The geofencing technology can be implemented with ready-made software solutions. Also Published here

A Closer Look at Geofencing Technology and Applications

Alibaba engineers’ latest tech treat for coffee lovers Opened in 2017, the Starbucks Reserve Roastery and Tasting Room in Shanghai is the world’s first retail coffee shop with an Augmented Reality (AR) experience. Developed by Alibaba’s AR platform Laboratory X, the AR tech enables customers to sip on their latte while they explore the shop and discover everything there is to know about coffee, including where it comes from and how it is made. The cutting-edge AR technology is based on Artificial Intelligence (AI) and Starbucks has applied it to make a truly unique café experience. AR technology used to glance into Starbucks’ huge copper roasting cask AR Explained AR is a type of graphic technology that combines reality with virtual content in real time. Let’s take a visit to Starbucks as an example. If a customer points their phone at a coffeemaker, then it will be recognized as a coffeemaker and an interactive button is overlaid on top of it. This process of content overlay involves the three principles of AR technology: · Identifying the object (i.e. looking for the coffeemaker) · Rendering the overlaid content (i.e. drawing the interactive button on the coffeemaker) · Tracking the identified object (i.e. ensuring the interactive button ‘sticks’ to the coffeemaker when the user moves their phone) Tracking and rendering technology are already relatively mature and well developed. However, identifying objects presents the main technological barrier for AR applications. Not Seeing Clearly The demands of AR require recognition to be performed in real time at the client for the most efficient experience. The client computation method identifies larger objects that are not easily influenced by patterns, the Starbucks cask for example, and uses various data processing strategies to achieve a final captivating result. Unlike methods accessing servers, client computations are not restricted by network speed and so result in swift response times and a stable experience. However there are several types of object that cause difficulties in recognition for the AR system, specifically: · Metal surface reflections that give out different patterns when viewed from different angles. · Transparent surfaces, such as hollow and transparent containers. · Changes in the environment or equipment that increase the difficulty of consistently identifying objects, such as varying models of smartphone and their capabilities. In order to overcome these difficulties, a cloud-based deep learning recognition server was established. Cloud Recognition Deep learning applications on images is now relatively mature and the following associated models have been used for the Starbucks AR experience: · Image classification model: This has a high perception ability, but cannot confirm target location. · Object detection model: This has a low perception ability, but can accurately confirm target location. By combining the advantages of both models, most objects can be recognized by the object detection model, while the classification model can be used for objects that are more difficult to identify but can be given an estimated location in the image. Image Synthesis The main purpose of image synthesis is to teach the machine to differentiate the foreground and background, rather than obtaining a measurably physical result, such as the size of the object. Image synthesis has become a useful tool to overcome the issue of scene diversity causing problems with object identification. It can be used to automate target object recognition by collecting information on multiple target object images. This is done against a green screen background, then the background is removed, and the target color is switched to a similar distribution to that of the background. Both machine learning and deep learning require a huge amount of data, which takes a lot of time and energy to collect. As objects, such as a transparent and reflective coffee pot, can appear anywhere in the scene, it is important for training data to be as diversified as possible to cover all likely scenarios. Image synthesis process for target object recognition Color transforming image example Although these approaches could solely be used for a basic AR application, there are still outstanding issues for larger-scale uses. Color and Image Simulation AR target recognition relies heavily on device camera resolution. So, with the large-scale Starbucks application, accommodating users’ varying smartphone models and specifications was vital. This could be overcome by simply collecting data using many different smartphones models, but this is not a realistic approach. Instead, existing images were switched to simulated images from other smartphones, using two automated processes: Pure color transformation: Using image B as a reference, this process transforms the color distribution in image A to unify it with that of image B. Example pure color transformation image simulation 2. Response curve simulation: This process replaces the response curve of camera A with the response curve of camera B to simulate the image from camera B. Example response curve simulation image simulation Further AR Applications This application of AR technology combines reality with virtual content and has allowed the Starbucks Reserve Roastery and Tasting Room to reinvent the coffee shop. The unique AR experience gives customers a truly outstanding experience where they can delve into the world of coffee through the familiarity of their own smartphone. This online and offline retail combination has endless possibilities for unique AR retail experiences and moving forward will no doubt be used across multiple industries and platforms. (Original article by Yang Xiaoyi杨攸奕) Alibaba Tech First hand and in-depth information about Alibaba’s latest technology → Search on “Alibaba Tech” Facebook

AR for a Richer Cup of Coffee

At the start of 2018, barely a day goes by without another cryptocurrency story making the headlines. Anyone who takes the time to delve into the blockchain technology that lies behind all the hype will realize that this is tech that’s here to stay. Whether applied to finance, security, or healthcare, the encrypted nature of blockchain technology is astonishing, and a little bit scary. Recently, however, the technology got a little out of control and some 500,000,000 (yes, that’s half a billion…) users may have had their computer processors hijacked for cryptocurrency mining. Cryptojacking The new kid on the malware block is called cryptojacking. This is a process whereby adware and spyware programs morph into the hijacking of a computer or mobile phone microprocessor with the sole purpose of using it to perform cryptocurrency mining operations. These are complex algorithms that require intense processing brainpower. In addition, they make the hijacked computers operate at full capacity which results in high electricity consumption. These cryptojackers are therefore not only stealing the processing capabilities of your device, but they also have the cheek to make you pay for the electricity bill! The actual damage is triggered by unsuspecting users visiting affected websites which initiates JavaScript procedures that affect and access endpoint devices. Chief Culprit One of the main culprits of this enterprise is a program called , which is used to mine the cryptocurrency Monero. Market watchers were able to track this code by watching load spiking and other anomalous behaviors. In addition to the covert crypto mining, some cryptojacking programs also managed to steal cryptocurrency wallets that contained valuable cryptocurrency portfolios. Coinhive The Pirate Bay (TPB), one of the most renowned online torrent file-sharing websites was to raise funds for its own website. In its defense, the site’s owners claimed that they were trying to switch from adverts that nobody wanted to sucking processing power from their user base. found using the Coinhive application Unfortunately for TPB, they failed to disclose their activities to their users and were caught in a compromising position. Coffee Break Another incidence of online cryptomining theft was highlighted by Noah Dinkin, the Chief Executive of email provider Stensul who noticed some unusual delays when surfing in Starbucks, his favorite coffee shop. Dinkin shot of the following Tweet to the coffee chain’s head office: Starbucks responded immediately, confirming that they had blocked the offending site, stating that they were in no way complicit in the same type of questionable activity in which TPB had voluntarily participated. Profitable Business A study commissioned by the company behind ad-blocking program Adguard, had made approximately 43,000 USD during the three-week testing period, which is a huge sum considering the minimal risk run by the cryptojackers themselves. discovered that websites deploying CoinHive The study analyzed over 100,000 top Internet sites and found that more than 200 sites had been affected by Coin Hive and other cryptojacking programs like JSEcoin. With the main target countries being the US, India, Russia, and Brazil, it is clear this is a truly global phenomenon. Some of the other sites affected include Showtime, Politifact, and the website of the UFC as well as video sites such as RapidVideo, OnlineVideoConverter, and Openload. Help is at Hand One of the great things about the Internet is that no sooner has some mischievous activity been uncovered than someone else arrives on the scene with a solution. So, if you’ve noticed any slower than normal performance on your laptop or cellphone, or if you’ve encountered mysterious delays on certain websites, you too might be the victim of a cryptojacker. However, there are many tools out there that can help you defeat cryptojackers. One of them is a Chrome browser add-in called . No Coin This app blocks any illicit activity that would turn your computer or smartphone into a cryptomining factory. The well-known anti-malware program is also capable of blocking these dastardly diggers. To deploy AdBlock, go to your list of extensions, find AdBlock and click ‘Options’. Then click the ‘Customize’ tab at the top of the page, click ‘Block an ad by its URL’, and . AdBlock enter this string This action will stop Coinhive dead in its tracks. AdBlock and No Coin are just the tip of the iceberg. It is always better to be safe than sorry, so it is best to arm yourself with the most recent security tools. If you don’t know where to start looking, you can always rely on reviews sites like , or . this this one While most Internet users will be thoroughly annoyed at the idea of someone stealing their computer or smartphone’s processing power, there’s no question that this process is quite impressive. Nobody would have dreamed of such an activity even 12 months ago. Fortunately, there is a defense, but many people who are unaware that they’ve been cryptojacked will be helping cyber criminals to steal their money. For this reason, it is important to expose this activity to the wider community where it can be mitigated and ultimately stopped.

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