The growth and reach of digital media over the past decade radically shifted how businesses are promoted and the way they interact with customers.
Chief executives and founders are reachable on social media, and one tweet from a disgruntled client could negatively impact a brand’s image. Marketing evolves every year. But the pandemic changed the way audience members consume information and shop. Digital media, especially social media, became a priority channel to learn more about businesses, read product reviews, and engage employees. Not only did that push companies to up their marketing game, but it magnified the importance of content marketing.
Content marketing involves creating and distributing content for a company's target audience. It takes many forms such as video, infographics, written content, videos, social media posts, e-books, webinars, and podcasts. About 86 per cent of business owners use video content as a marketing tool, compared to 63 per cent in 2017, according to a 2021 Wyzowl's State of Video Marketing survey.
The main reason to produce marketing content in the first place is to connect with your audience and help answer any questions they may have about your brand. By creating content, you slowly build trust, familiarise your audience with your core values and retain customers.
For example, a video series with a founder of a business shared on social media, on the story behind a business, can humanise a brand and help build rapport.
Some 51 per cent of those polled by a Think with Google survey, research a purchase they plan to make online. That means that the more content there is about your company online, whether it's reviews, explainer videos, or research papers, it can influence your customers' decisions.
Content marketing is also a great way to establish yourself as a thought leader in your industry. If you are a scientist, then publishing articles in science journals could help establish you as an expert and boost your visibility. Depending on your line of business, this could take the form of research papers, writing guest columns, speaking on business panels, or it could be in the form of video.
Dubai based Huda Beauty founder, Huda Kattan, rose to fame and became a beauty expert because of her beauty blog. She leveraged the platform to share product reviews, provided make-up application tutorials and beauty routines. When she launched her cosmetics line a few years later, she had gained enough traction that guaranteed her success. Becoming a thought leader, positions you as an industry expert, promotes your business, and builds trust with your audience.
It is not only about creating marketing content, but to ensure it is engaging enough to be shared. Having your content shared is free advertising and marketing that could lead to sales. Take note of what kind of content is trendy in your field and package it in a way that appeals to your audience.
There are many options when it comes to producing and sharing content, and the decision boils down to understanding your audience and speaking in a language they understand.
For instance, if you are targeting Gen Zers (those born 1996–2012), then leveraging a social media platform like TikTok may be more relevant. US teen users accounted for 32.5 per cent of TikTok's active users, according to figured published by Statista last year.
A good tip to keep in mind is to produce evergreen content, even though it may be hard to maintain all the time, but you want to ensure that as much as you can, your content is always relevant. An interior design agency could share short styling videos, and a marketing expert could share a free e-book on the best way to market a start-up.
As marketing trends evolve, what’s certain is that content marketing is more important this year and businesses should invest in.
Manar Al Hinai is an award-winning Emirati journalist and entrepreneur, who manages her marketing and communications company in Abu Dhabi
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THE SPECS
Engine: 3-litre V6
Transmission: eight-speed automatic
Power: 424hp
Torque: 580 Nm
Price: From Dh399,000
On sale: Now
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”