Helping Small Businesses Get Building and Reducing Spend

March 1, 2021

Managing a small business can be daunting. Statistics reveal that only 33% of the small businesses make it to 10 years or longer. Small companies often encounter a specific set of challenges that include lack of funding or capital, a faulty business model or infrastructure, ineffective marketing initiatives, and retaining an insufficient management team. Following are some tips that can help small businesses overcome these challenges and achieve their goals successfully.

Make Customer Service the Highest Priority

Happy customers are likely to stick around for a long haul. Also, it’s easier to sell to loyal customers than acquiring new customers. The simplest way to make your customers happy is by offering them timely and high-quality service. Thus, it’s worthwhile to examine your current customer service and make the necessary changes to make it superior to your competitors’.

Collect your customer feedback regularly and act on it to make your product and services more inclined to their expectations. Additionally, essential improvements such as promptly responding to your customers’ emails and voicemails, revamping return policy, and investing in staff training can go a long way.

Build Online Presence

In this internet era, 88% of consumers research products and services online before purchasing in a store. Hence, it’s imperative to have a business website that describes you and your product and services. Your website should have your business name and logo, who you are, and more information about your services and products, your contact information with a Google Maps link along with your mission and customer testimonials.

It’s vital for lasting business success to have a wide range of consumers aware of your offerings, and Social Media can help achieve it. Nowadays, it’s a standard for most businesses to establish a presence on Twitter, Facebook, and Instagram.

Expand Marketing efforts

Effective marketing is the key to success, and you can adopt some of the inexpensive yet effective ways to market your offerings. Some of the options are creating a promotion kit, sending promotions with quotes, involving the newspapers in grand openings and charity events, joining professional organisations, doing cross-promotions by developing partnerships with complementary businesses, offering free classes or workshops related to your offerings, using a vehicle wrap to advertise on your vehicle or the traditional way of cold-calling.

You can also think about digital marketing strategies. You can publish regular blog posts to engage your audience. Using a marketing chatbot can be a great idea as your business starts growing. It will engage your existing and potential customers round-the-clock by answering their queries and interacting with them consistently.

Find and Retain the Right Employees

Businesses depend on quality staff that can work with them for the long-term. Thus, finding and retaining the right employees is predominant for any business.

Update Your Business Plan Regularly

As a small business, regularly updating your business plan is as critical as creating one in the first place. A business plan is crucial for several reasons, including checking your business idea viability, securing equity financing or debt, and more. An annual review can help you assess your accomplishments and decide on new directions or goals for future success.

Cut Business Costs

Money saved is money earned! Keeping expenses under control is critical for small businesses, and that’s where technology can help you. There is a wide range of apps in the market that can help you accomplish your tasks besides offering cost-effectivity. Conducting regular reviews of your major expenses can help you understand where you can save. For example, you can think of relocating if there’s ample commercial space available in your vicinity or eliminating this cost by converting into a home-based business. Other ways can be to check for discounts or adopting pool supply purchases with other companies to save cost.

Offer Mobility

With more and more people relying on cell-phones to surf the internet, you should explore mobile-specific strategies to reach your target audience. It includes a mobile-friendly business website and mobile marketing that encompass mobile display ads, text message advertising, and your mobile business app. Further, offering the pay-by-phone option not only provides convenience to your customers besides resulting in significant savings for you.

Process Automation and Cloud Adoption

Today’s small businesses can truly reap the technology benefits using process automation and Cloud adoption. Automating business processes can save time and effort besides enhancing efficiency with reduced human errors. Process automation helps you get your customers through the lifecycle more efficiently. It provides better engagement and personalisation, reduces shopping cart abandonment, enhances lead scoring, improves customer nurturing and remarketing, resulting in increased customer satisfaction, business opportunities, and revenue.

Further, Cloud adoption maximises your process automation benefits by offering considerable cost savings and anytime-anywhere access. Cloud computing saves you from the IT costs for installations, updates, backups, and more, which can be significant for any small business.

E2E Cloud offers high reliability, best availability, and advanced technical stacks with ultra-low latency. Further, our Cloud platform is 40-60% more cost-effective than other major platforms and is ideal for small businesses. For more information, Signup for a free trial http://bit.ly/38SbShS

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This is a decorative image for: A Complete Guide To Customer Acquisition For Startups
October 18, 2022

A Complete Guide To Customer Acquisition For Startups

Any business is enlivened by its customers. Therefore, a strategy to constantly bring in new clients is an ongoing requirement. In this regard, having a proper customer acquisition strategy can be of great importance.

So, if you are just starting your business, or planning to expand it, read on to learn more about this concept.

The problem with customer acquisition

As an organization, when working in a diverse and competitive market like India, you need to have a well-defined customer acquisition strategy to attain success. However, this is where most startups struggle. Now, you may have a great product or service, but if you are not in the right place targeting the right demographic, you are not likely to get the results you want.

To resolve this, typically, companies invest, but if that is not channelized properly, it will be futile.

So, the best way out of this dilemma is to have a clear customer acquisition strategy in place.

How can you create the ideal customer acquisition strategy for your business?

  • Define what your goals are

You need to define your goals so that you can meet the revenue expectations you have for the current fiscal year. You need to find a value for the metrics –

  • MRR – Monthly recurring revenue, which tells you all the income that can be generated from all your income channels.
  • CLV – Customer lifetime value tells you how much a customer is willing to spend on your business during your mutual relationship duration.  
  • CAC – Customer acquisition costs, which tells how much your organization needs to spend to acquire customers constantly.
  • Churn rate – It tells you the rate at which customers stop doing business.

All these metrics tell you how well you will be able to grow your business and revenue.

  • Identify your ideal customers

You need to understand who your current customers are and who your target customers are. Once you are aware of your customer base, you can focus your energies in that direction and get the maximum sale of your products or services. You can also understand what your customers require through various analytics and markers and address them to leverage your products/services towards them.

  • Choose your channels for customer acquisition

How will you acquire customers who will eventually tell at what scale and at what rate you need to expand your business? You could market and sell your products on social media channels like Instagram, Facebook and YouTube, or invest in paid marketing like Google Ads. You need to develop a unique strategy for each of these channels. 

  • Communicate with your customers

If you know exactly what your customers have in mind, then you will be able to develop your customer strategy with a clear perspective in mind. You can do it through surveys or customer opinion forms, email contact forms, blog posts and social media posts. After that, you just need to measure the analytics, clearly understand the insights, and improve your strategy accordingly.

Combining these strategies with your long-term business plan will bring results. However, there will be challenges on the way, where you need to adapt as per the requirements to make the most of it. At the same time, introducing new technologies like AI and ML can also solve such issues easily. To learn more about the use of AI and ML and how they are transforming businesses, keep referring to the blog section of E2E Networks.

Reference Links

https://www.helpscout.com/customer-acquisition/

https://www.cloudways.com/blog/customer-acquisition-strategy-for-startups/

https://blog.hubspot.com/service/customer-acquisition

This is a decorative image for: Constructing 3D objects through Deep Learning
October 18, 2022

Image-based 3D Object Reconstruction State-of-the-Art and trends in the Deep Learning Era

3D reconstruction is one of the most complex issues of deep learning systems. There have been multiple types of research in this field, and almost everything has been tried on it — computer vision, computer graphics and machine learning, but to no avail. However, that has resulted in CNN or convolutional neural networks foraying into this field, which has yielded some success.

The Main Objective of the 3D Object Reconstruction

Developing this deep learning technology aims to infer the shape of 3D objects from 2D images. So, to conduct the experiment, you need the following:

  • Highly calibrated cameras that take a photograph of the image from various angles.
  • Large training datasets can predict the geometry of the object whose 3D image reconstruction needs to be done. These datasets can be collected from a database of images, or they can be collected and sampled from a video.

By using the apparatus and datasets, you will be able to proceed with the 3D reconstruction from 2D datasets.

State-of-the-art Technology Used by the Datasets for the Reconstruction of 3D Objects

The technology used for this purpose needs to stick to the following parameters:

  • Input

Training with the help of one or multiple RGB images, where the segmentation of the 3D ground truth needs to be done. It could be one image, multiple images or even a video stream.

The testing will also be done on the same parameters, which will also help to create a uniform, cluttered background, or both.

  • Output

The volumetric output will be done in both high and low resolution, and the surface output will be generated through parameterisation, template deformation and point cloud. Moreover, the direct and intermediate outputs will be calculated this way.

  • Network architecture used

The architecture used in training is 3D-VAE-GAN, which has an encoder and a decoder, with TL-Net and conditional GAN. At the same time, the testing architecture is 3D-VAE, which has an encoder and a decoder.

  • Training used

The degree of supervision used in 2D vs 3D supervision, weak supervision along with loss functions have to be included in this system. The training procedure is adversarial training with joint 2D and 3D embeddings. Also, the network architecture is extremely important for the speed and processing quality of the output images.

  • Practical applications and use cases

Volumetric representations and surface representations can do the reconstruction. Powerful computer systems need to be used for reconstruction.

Given below are some of the places where 3D Object Reconstruction Deep Learning Systems are used:

  • 3D reconstruction technology can be used in the Police Department for drawing the faces of criminals whose images have been procured from a crime site where their faces are not completely revealed.
  • It can be used for re-modelling ruins at ancient architectural sites. The rubble or the debris stubs of structures can be used to recreate the entire building structure and get an idea of how it looked in the past.
  • They can be used in plastic surgery where the organs, face, limbs or any other portion of the body has been damaged and needs to be rebuilt.
  • It can be used in airport security, where concealed shapes can be used for guessing whether a person is armed or is carrying explosives or not.
  • It can also help in completing DNA sequences.

So, if you are planning to implement this technology, then you can rent the required infrastructure from E2E Networks and avoid investing in it. And if you plan to learn more about such topics, then keep a tab on the blog section of the website

Reference Links

https://tongtianta.site/paper/68922

https://github.com/natowi/3D-Reconstruction-with-Deep-Learning-Methods

This is a decorative image for: Comprehensive Guide to Deep Q-Learning for Data Science Enthusiasts
October 18, 2022

A Comprehensive Guide To Deep Q-Learning For Data Science Enthusiasts

For all data science enthusiasts who would love to dig deep, we have composed a write-up about Q-Learning specifically for you all. Deep Q-Learning and Reinforcement learning (RL) are extremely popular these days. These two data science methodologies use Python libraries like TensorFlow 2 and openAI’s Gym environment.

So, read on to know more.

What is Deep Q-Learning?

Deep Q-Learning utilizes the principles of Q-learning, but instead of using the Q-table, it uses the neural network. The algorithm of deep Q-Learning uses the states as input and the optimal Q-value of every action possible as the output. The agent gathers and stores all the previous experiences in the memory of the trained tuple in the following order:

State> Next state> Action> Reward

The neural network training stability increases using a random batch of previous data by using the experience replay. Experience replay also means the previous experiences stocking, and the target network uses it for training and calculation of the Q-network and the predicted Q-Value. This neural network uses openAI Gym, which is provided by taxi-v3 environments.

Now, any understanding of Deep Q-Learning   is incomplete without talking about Reinforcement Learning.

What is Reinforcement Learning?

Reinforcement is a subsection of ML. This part of ML is related to the action in which an environmental agent participates in a reward-based system and uses Reinforcement Learning to maximize the rewards. Reinforcement Learning is a different technique from unsupervised learning or supervised learning because it does not require a supervised input/output pair. The number of corrections is also less, so it is a highly efficient technique.

Now, the understanding of reinforcement learning is incomplete without knowing about Markov Decision Process (MDP). MDP is involved with each state that has been presented in the results of the environment, derived from the state previously there. The information which composes both states is gathered and transferred to the decision process. The task of the chosen agent is to maximize the awards. The MDP optimizes the actions and helps construct the optimal policy.

For developing the MDP, you need to follow the Q-Learning Algorithm, which is an extremely important part of data science and machine learning.

What is Q-Learning Algorithm?

The process of Q-Learning is important for understanding the data from scratch. It involves defining the parameters, choosing the actions from the current state and also choosing the actions from the previous state and then developing a Q-table for maximizing the results or output rewards.

The 4 steps that are involved in Q-Learning:

  1. Initializing parameters – The RL (reinforcement learning) model learns the set of actions that the agent requires in the state, environment and time.
  2. Identifying current state – The model stores the prior records for optimal action definition for maximizing the results. For acting in the present state, the state needs to be identified and perform an action combination for it.
  3. Choosing the optimal action set and gaining the relevant experience – A Q-table is generated from the data with a set of specific states and actions, and the weight of this data is calculated for updating the Q-Table to the following step.
  4. Updating Q-table rewards and next state determination – After the relevant experience is gained and agents start getting environmental records. The reward amplitude helps to present the subsequent step.  

In case the Q-table size is huge, then the generation of the model is a time-consuming process. This situation requires Deep Q-learning.

Hopefully, this write-up has provided an outline of Deep Q-Learning and its related concepts. If you wish to learn more about such topics, then keep a tab on the blog section of the E2E Networks website.

Reference Links

https://analyticsindiamag.com/comprehensive-guide-to-deep-q-learning-for-data-science-enthusiasts/

https://medium.com/@jereminuerofficial/a-comprehensive-guide-to-deep-q-learning-8aeed632f52f

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