Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today released a new report, “The Science of Loyalty”, focused on the drivers behind consumer loyalty, behaviour and the tangible insights marketers can take to build loyalty and cultivate meaningful relationships between their brand and its customer base. The report includes findings from a survey of 4,000 consumers across the United States, Canada, the United Kingdom and Australia – with 1,000 participants per market – and qualitative interviews with eight global marketing experts. 

“The Science of Loyalty” uncovered that as brands and marketers build stronger relationships with their existing customer base, those customers are significantly more likely to purchase from the brand again, a cost-effective solution to the rising costs and resources it takes to acquire new customers. With 88% of Australian consumers expressing a preference for brands that make them feel good, diving into science-backed loyalty strategies can assist brands and marketers with setting their brand apart from the competition. 

“Loyalty is more important than ever,” said Michelle Taite, Chief Marketing Officer at Intuit Mailchimp. “Our study found that 78% of Australian consumers will only purchase from brands that are trustworthy, highlighting the significance of establishing a strong connection while guaranteeing credibility. However, surprisingly, only 50% of shoppers expect brands to reward them with deals and discounts, highlighting the changing patterns of consumer loyalty.”

“In today’s ever-changing business landscape, characterised by overwhelming amounts of data and endless options, brands and marketers should be equipped with the tools and resources needed to build marketing strategies that make an impact and build meaningful connections that drive loyalty with their customers,” adds Michelle.

The Commitment Spectrum

The report finds that loyalty falls on a spectrum. To better understand the types of loyal customers, Mailchimp created a commitment spectrum, which ranges from “inert” to “fandom” loyalty. On one end there is inert loyalty, where consumers purchase from a brand not out of preference, but out of convenience. Moving up on the spectrum, other loyalty categories include habitual loyalty, where loyalty emerges from routine rather than emotional ties, followed by dedicated loyalty where consumers form an emotional connection to the brand’s vision and purpose. What many brands and marketers view as the pinnacle of loyalty—fandom—is characterised by a strong emotional bond and shared values amongst the brand’s community.

While inspiring fandom may be the goal for many brands and marketers, only 13% of global respondents belonged to the fandom loyalty group. Experts like Richard Shotton, author of The Illusion of Choice, caution that such affiliations can be extremely hard to cultivate and may not make sense for every brand. Most brands are likely to have a mix of all of these customers, and a good strategy should have tactical approaches that target different levels of commitment.

“I think a goal like loyalty, whereby people avoid better alternatives out of a sense of obligation or genuine passion, is phenomenally hard to achieve,”said Shotton. “The danger is that marketers overestimate their chances of achieving that and maybe convert their budget into smaller sales rather than [pursuing] the much, much simpler goal of habit.”

The 12 Tactics of Consumer Loyalty

To better understand the inner workings of loyalty, the report outlines “12 Tactics of Loyalty” to assist brands and marketers with building meaningful relationships with consumers. 

1. Smart exposure: Be top-of-mind with strategically placed brand codes and symbols.

Almost half (46%) of Australian repeat purchasers said they know a lot about the brands they purchase from. This rises to 60% globally among Fandom purchasers, who feel they know the brand best.”

2. Familiar foundations: Build familiarity by showing up in trusted spaces. About half (48%) of repeat purchasers in Australia said that recommendations from friends or family help them decide what to buy.
3. Choice validation: To encourage renewed commitment, help customers feel justified in their choice. 

Only 52% of inert and 51% of habitual customers globally had a very favourable opinion of their preferred brand, but this rises to 84% among fandom purchasers.

4. New routines: Build repeat purchases into your customer’s routine.

Routines are powerful drivers of loyalty. 25% of Australian consumers will repeatedly purchase from the same brand because it’s part of their routine. Globally, 35% of those who purchase on a daily or weekly basis said their preferred brand was the only one they’d consider (vs 22% among those purchasing monthly or less).

5. Smooth selling: Remove obstacles that could disrupt customers’ shopping journeys.

Ease of purchase was the no.1 brand association for Australians with 97% of repeat purchasers saying their preferred brand makes it quick and easy to purchase; this was the number one brand association for repeat purchase shoppers.

6. Easy decisions: Create friction-free experiences that combat choice fatigue.

Half (49%) of all email subscribers in Australia explore new product offerings through brand emails and 42% went on to make a purchase after reading the message.

7. Gift giving: Promote organic peer-to-peer marketing through gift giving.

Less than half (36%) of Australian customers have recommended their preferred brand to friends or family, and only 20% have given it as a gift), revealing an untapped opportunity for brands to spread the word. However, globally, this increases among 18-24 year olds, of which 43% have recommended their preferred brand to family and friends and 30% have given it as a gift.

8. Insider status: Help customers feel heard by asking for, and responding to, feedback.

The most popular method of contact is email with over half (55%) of Australian shoppers looking to keep in touch with brands this way and 22% subscribed to an email/mailing list – the highest among surveyed countries. Other popular methods of contact are SMS (20%) and social media (16%). If a brand can’t offer quality customer service across channels, 1 in 4 said they would consider switching brands.

9. Meaningful rewards: Personalise reward programs with customer lifestyles to boost satisfaction.

While 50% of repeat Australian purchasers said they’d like their preferred brand to provide them with deals or discounts, rewards aren’t always about monetary incentives. In fact, 88% said their preferred brand made them feel good, which was the second biggest driver of loyalty, after consistency.

10. Game on: Gamify your rewards to foster a sense of achievement and fun.

28% of repeat purchasers in Australia said they’d like to receive loyalty reward perks from their preferred brand. However, only 18% have joined a loyalty benefits program, suggesting untapped potential.

11. Shared Interests: Build emotional resonance by aligning with a cultural niche or value. 

31% of Australian consumers said they would consider switching brands due to environmental impact (13%) or unethical manufacturing (18%).

12. Sense Of Ownership: Actively engage consumers to foster a sense of co-collaboration.

Customers are keen to provide their thoughts and experiences to brands, with over 1 in 4 (24%) Australian email subscribers participating in surveys or feedback

Why Brands and Marketers Should Care

Experts like Denise Lee Yohn, author of What Great Brands Do: The Seven Brand-Building Principles that Separate the Best from the Rest, describe loyalty as not just a marketing goal, but a comprehensive business strategy. Loyalty is a strategic imperative for brands seeking sustainable growth and resilience; in an era marked by choice-overload. Marketers must be able to navigate the complex terrain of consumer behaviour effectively and recalibrate their marketing strategies. Using the tactics outlined in the “Science of Loyalty” playbook, brands and marketers will be one step closer to engaging with customers in a holistic way and deepen relationships that positively impact their marketing goals. 

To further explore loyalty— how it’s fostered, the role of trust, and how fandom factors into consumer behaviour—head to Mailchimp Presents to check out our latest ​​Loyalty Film Collection, featuring documentaries that celebrate the dynamics of loyalty. 

All statistics from a Canvas8 conducted panel-sample online survey on behalf of Intuit Mailchimp February 17–27, 2024 consisting of 4,000 respondents (1000 from each of the US, UK, Australia, Canada ages 18 to 65). The margin of error is +/- 5.5 percent, as reported at a 95 percent confidence level.

 GoCardless, the bank payment company, has announced an integration in Australia with Intuit QuickBooks’  leading financial management software.

The new GoCardless app, available today in the Intuit Quickbooks Store, will allow Australian QuickBooks users to tap into Direct Debit, helping them to reduce late payments and improve cash flow. 

The announcement will be welcome news to SMBs who, according to the Australian Government’s Payment Times Reporting Regulator, wait up to 47 days to get paid on average. 

The GoCardless integration will allow Intuit QuickBooks small business users to gain greater control of their finances. On the date an invoice is due, payments are automatically collected directly from their customers’ bank accounts and reconciled on the Intuit Quickbooks platform. Direct Debit payments also cost less to process when compared to payment by credit cards.  GoCardless’s standard fees are generally also cheaper than those charged by Stripe and PayPal. 

In turn, small businesses can offer their customers more secure and seamless payment experiences, removing the hassle of updating expired, lost or stolen card details and the need to initiate manual bank transfers. For small businesses, this reduces the risk of customer churn, late payments and failed payments.  

Seb Hempstead, VP of Partnerships at GoCardless, said: “Our integration with Intuit QuickBooks is one way we can make life easier for small businesses in this tough economic environment. By reducing late and failed payments, plus the associated admin, and enabling automatic reconciliation, we can free up cash flow and keep costs down. This means that SMBs can spend more time growing their business.”

Lars Leber, VP and Country Manager Intuit QuickBooks Australia said: “We are excited to expand our international relationship with GoCardless to Australia. Our goal is always to make the lives of QuickBooks customers easier. Through this integration, businesses can put time back into other areas of their business that were previously dedicated to bookkeeping and chasing payments, while customers will not have to worry about their service expiring when their card does. With GoCardless, we are providing efficient solutions tailored for small businesses.”

This regional integration builds on the existing relationship between GoCardless and Intuit QuickBooks in the United Kingdom. Along with launching a new app in Australia, GoCardless has also introduced an app on the Intuit QuickBooks Marketplace in North America.

Aussie customers can now find the GoCardless app in the Intuit Quickbooks Store.  

American Express has announced the expansion of its Backing International Small Restaurants grant program, with venues in Melbourne now eligible to apply in addition to Sydney.

Run in partnership with the International Downtown Association (IDA) Foundation and supported by Mainstreet Australia, small restaurant owners are being invited to apply for one of 10 grants each valued at $21,500 to put towards expenses or improving their business.

In its first two years in Australia, Backing International Small Restaurants has provided $240,000 in financial support. The program, founded by American Express, recognises the challenges small dining venues face in the current economic climate and aims to give them a helping hand. Restaurants operated by underrepresented and/or economically vulnerable members of the community will be given special consideration.

Robert Tedesco, Vice President of Global Merchant Network Services for American Express Australia and New Zealand, said: “Small independently run restaurants are at the heart of our communities and local economies. Many are struggling with the fallout of cost-of-living pressures and need support. It’s why this year we have expanded the program to Melbourne for the first time, in addition to Sydney. We’re lucky to have one of the best dining scenes in the world and we want to see it remain vibrant. The majorityi of small restaurants are family operated, so these grants will help venues keep growing and serving their communities, while protecting their legacy for future generations.”

2023 Grantees Share Small Business Updates & Innovations

Kabul Social

· Sydney social enterprise restaurant Kabul Social, which serves Afghan street food cooked by displaced refugees, was one of the six grant recipients from the 2023 program. The restaurant donates two meals to those in need for every one meal sold.

· Kabul Social Owner, Shaun Christie-David, said: “The American Express grant has supported us to develop a phone application that gives our customers the ability to track the impact they’re having with each meal. Being able to build stronger connections and loyalty with our customers through technology is vital, especially when we’re experiencing major challenges in the restaurant and dining scene. Like so many businesses, ours has seen a reduction in revenue because of people working from home during the week and reduced overall spend because of the cost-of-living crisis. I want to be able to sustain my team’s employment even in the challenging times, so this grant, which is helping us to innovate and connect with people, has been a great boost financially and for our spirits.”

Small’s Deli

· Emily Van Loon and Ben Shemesh, owners of much-loved Potts Point local, Small’s Deli, successfully applied for a Backing International Small Restaurants grant in 2023 to support their eight-seater restaurant to grow to meet increasing demand.

· Van Loon said: “We knew we needed to make changes because the business had outgrown its current setting. The grant from American Express was extremely

helpful and without it we wouldn’t have been able to afford the changes. With it, we were able to replace the front window, update the counter, replace the fridge and some other critical equipment that had failed on us.

· “We found out about the grant from a friend who works in the industry and after looking into it, we found that the amount would cover those long-term renovation plans that we otherwise couldn’t afford. The application process was very straightforward and I highly recommend other small restaurant owners get involved.”

David Downey, President and CEO of the IDA Foundation said: “We’re excited to be partnering with American Express again for the third year of the Backing International Small Restaurants program. This year’s expansion to nine global cities demonstrates our shared commitment to boosting long-term sustainability for culturally significant and independent restaurants. By increasing the grant amount, we can provide even greater support to these businesses, empowering them to thrive and continue to be cultural cornerstones within their communities.”

Backing International Small Restaurants builds on American Express’ efforts to support small businesses year-round, including through its American Express Delicious. Month Out, annual Shop Small campaign, a global movement that shines a spotlight on small businesses, and other global “Backing Small” programs.

All small independent restaurants in Sydney and Melbourne are encouraged to apply. Applications are now open. To learn more about Backing International Small Restaurants, including eligibility and to apply, visit https://downtown.org/backing-international-small-restaurants-grant-program/

Applications close on Friday 31 May 2024 at 14:00 AEST.

NAB is urging Australian small businesses to enhance their cyber security, announcing it will offer a year of free cyber security software to business customers.

This follows NAB’s research late last year that found small and medium businesses (SMEs) are one of the least cyber prepared sectors. It revealed that only 15% of SMEs conduct extensive training around scams and cyber security risks, while four in 10 had “not much training at all”.

To help businesses bolster cyber protections, NAB – in partnership with global cyber security firm CrowdStrike – is offering eligible small business customers a free year subscription of CrowdStrike ‘Falcon Go’, to support and reinforce SME defences against ransomware, data breaches, and cyber threats*.

NAB Chief Security Officer Sandro Bucchianeri said as the number of cyber attacks increase, more needed to be done to help protect small and medium-sized businesses.  

“The number of cyber attacks continues to grow year-on-year, and it’s worrying that small and medium businesses – which make up 97% of all Australian businesses – are one of the least cyber prepared sectors,” Mr Bucchianeri said. 

“As Australia’s leading business bank, we have a key role to play in helping educate and assist small and medium-sized businesses to ensure they remain secure. That’s why NAB is doing what it can to help lift the cyber security resilience of our customers.  

“It can take businesses years to recover from a cyber attack due to their cost and complexity. By working with CrowdStrike, we are looking to connect and educate businesses, so they can help stop attacks before they stop business.” 

The CrowdStrike offer complements other initiatives that NAB is providing to help its small business customers to stay safe online, including a free cyber security software assessment in partnership with Microsoft.

In the 2022-23 financial year, the Australian Signals Directorate received one cybercrime report every six minutes at a cost of $71,600 – on average – to small and medium businesses.  

Mr Bucchianeri said the SME community, which makes up the majority of Australian businesses, needed to be the country’s number one priority to achieve national cyber resilience. 

“Smaller businesses just don’t have the resources to manage cyber security at a high level,” he said. 

“The Government’s cyber security strategy rightly places small businesses at the centre of its efforts, and we’re determined to help lead a collective effort to shift small businesses from one of the least prepared sectors in the country, to the most capable and resilient community group. 

“We’re urging businesses to evaluate their cyber security and take steps to strengthen it, before it’s too late.” 

CrowdStrike Chief Business Officer Daniel Bernard said modern cyber security was a team sport.

“We talk about cybersecurity being a ‘team sport’, and this initiative from NAB is a quintessential example of that in practice, raising the cyber security bar for small businesses across Australia,” Mr Bernard said.

“This will help provide small business with tailored technical expertise and the kind of mature security infrastructure that larger organisations have.”

NAB, in partnership with CrowdStrike, will cover the $450 annual cost of ‘CrowdStrike Falcon Go’ for eligible small business customers for one year, and offer a 15% discount thereafter. Small business customers can apply for the offer on nab.com.au/businessoffers (conditions and eligibility criteria apply).

Samsung Electronics Co., Ltd.  has announced the new Galaxy XCover7 and Galaxy Tab Active5, a durable smartphone and tablet geared to handle field and frontline work that demands versatility, optimisation and security.

Both devices will deliver enhanced mobility with 5G connectivity^[1], upgraded mobile processor performance and increased memory^[2]. Additionally, the XCover7 comes with a new powerful rear camera, expanded display size and resolution, while the Tab Active5 includes a replaceable battery^[3] and No Battery Mode^[4], providing users the flexibility to work in a variety of settings.

Rugged devices offer a smart solution; combining hardiness with performance contributing to increased adoption throughout the Asia Pacific, from 48% in 2020 to 81% in 2022^[5], growth in the ruggedised device market is unlikely to slow down.

“Samsung understands that businesses today face unprecedented challenges and opportunities, and they need devices that can keep up with their dynamic needs,” said Jerry Park, EVP and Head of Global Mobile B2B Team, MX Business at Samsung Electronics.

Incredible performance

Galaxy XCover7 and Galaxy Tab Active5 enable workers to use their smartphones and tablets without worry. Both devices – along with the Tab Active5’s bundled S Pen – are IP68-rated^[6] for water and dust resistance. Tested against the MIL-STD-810H^[7] military standard, the Galaxy XCover7 is able to withstand accidental drops and bumps of up to 1.5m on a steel surface while the Galaxy Tab Active5 can withstand a 1.8m accidental drop and bump on a plywood surface when using the bundled protective case.^[8]

The Galaxy XCover7 and Galaxy Tab Active5 feature Corning® Gorilla® Glass Victus®+ and Corning® Gorilla® Glass 5^[9], respectively. The device displays also allow for adjustments to touch sensitivity,^[10] making them easy to use for workers wearing gloves. With these specifications, Samsung Galaxy’s ruggedised devices can help withstand outdoor conditions, making them ideal for a wide variety of frontline workers.

Designed to Keep Work Moving in the Office, Field or Frontline

In today’s increasingly digital world, staying connected has been key as businesses, their operations and workforce evolve and become more technologically integrated. Galaxy XCover7 has been upgraded to provide fast and reliable 5G, along with Wi-Fi 5, while the Galaxy Tab Active5 offers 5G and Wi-Fi 6.^[11] This connectivity allows workers to collaborate more efficiently and effectively.

In addition to smooth connectivity, Galaxy XCover7 and Galaxy Tab Active5’s premium displays make for easy, convenient use. The XCover7’s 6.6-inch display provides more surface area alongside increased resolution compared to previous generations. The Tab Active5’s bright, 8.0-inch display offers great visibility in outdoor conditions, and a smoother viewing experience with a refresh rate of up to 120Hz^[12]. Both devices are engineered to offer powerful enterprise support while maintaining a slim, lightweight frame for work in all kinds of conditions.

Samsung Galaxy’s ruggedised devices can help ensure work continuity, providing workers with the support and connectivity they need, even in new, challenging work environments. For long days in the field or on the factory floor, workers using both the Galaxy XCover7 and Tab Active5 can leverage fast-charging^[13] to mitigate wasted time between charges and enable enhanced productivity. Both devices also come equipped with replaceable batteries, minimising downtime in and out of the workplace.^[14]

The Galaxy Tab Active5 can run without a battery in No Battery Mode.^[15] This lets workers use the device non-stop at kiosks or in vehicles. The Galaxy XCover7 and Tab Active5 also have POGO charging interfaces, which can help simplify the charging process by enabling workplaces with POGO docks^[16] to charge multiple devices at once.

Engineered to Maximise Productivity and Security

Samsung’s ruggedised devices are also designed to maximise productivity and efficiency, and streamline fieldwork. Increased speaker volume^[17] ensures clear auditory volume, programmable keys^[18] enable shortcuts for improved productivity, and quick barcode scanning via Knox Capture^[19] streamlines operations for warehouse work or mobile points of sale (mPOS).^[20]

Workers can unleash the full power of their smartphone or tablet with enhanced PC connectivity, too. The devices effortlessly handle quick content sharing, simultaneous displays and overall continuity of work between mobile and PC through Link to Windows, or emulate a desktop interface for jobs that take workers out of the field and into the office.

As businesses continue to operate in a fast-paced environment favoring efficiency, Samsung Galaxy’s ruggedised lineup can help workers get more done in less time, helping to meet growing consumer demands through increasing productivity and workplace operations. Galaxy XCover7 and Galaxy Tab Active5 are also compatible with a range of third-party accessories,^[21] from various functional cases to charging cradles, USB-Type C PTTs and more – enabling full integration into virtually any workplace operation.

In a first for Samsung’s ruggedised devices, Galaxy XCover7 and Galaxy Tab Active5 come with support for Samsung Knox Vault.^[22] As part of Samsung Galaxy’s commitment to expanding security protections beyond flagship devices, enterprise customers now have even greater choice in the devices that can safely support their business needs. Knox Vault can help protect data on these devices, including lock screen information like PIN codes, passwords and patterns.

It constructs a secure execution environment that is physically isolated from the system’s main processor and memory and is effective from the moment a user registers their lock screen – thus users can enjoy the security they need without hassle. Knox Vault can help protect users’ security keys which encrypt their data stored in the device, ensuring safety – even if the device is lost or stolen. A hardware-based, Samsung Knox Vault can help safeguard a user’s data against external threats.

Availability

The new Galaxy XCover7 and Galaxy Tab Active5 will be available starting 22^nd February 2024.^[23]

For more information, about Samsung’s latest Galaxy devices please visit https://news.samsung.com/au/galaxy or https://www.samsung.com/au/mobile/

Winners of the 2024 Australian Small Business Champion Awards have been crowned.

More than 100 small businesses were honoured over two nights – 12-13 April 2024 – at Sydney’s The Star, where the culmination of the Champion Awards’ most successful programme in more than a quarter of a century saw more than 2000 small businesspeople converge for the red-carpet two-night gala event.

The only recognition awards programme that celebrates the achievements and considerable economic, social and cultural contribution of today’s 2.5 million small business operators from right across the country, the Australian Small Business Champion Awards specifically highlight the finest small businesses in the retail, services, and manufacturing industries.

In this year’s special award categories…

Dully Sayed, Director of male grooming and aesthetic procedures specialists, BareWolf based in Belfield NSW, won Small Business Champion Entrepreneur; as did Leaky Roof Director Justin Vetsavong.

Young Small Business Champion Entrepreneur awards were presented to Queensland’s Chloe Fischart who founded Sendable – Australia’s first-ever social enterprise third-party logistics provider – and to Amore Tattoo’s Sally Lee Tirrell.

Damian Borg, who founded Scrub by Damian in 2021 when he was just 13 years-old and counts Autism and ADHD as his superpowers, was crowned 2024 Junior Small Business Champion Entrepreneur. Based in Mount Vernon, Scrub by Damian is an eco-friendly and preservative-free supplier of indulgent scrubs, bath salts, shower steamers, room sprays, loofah soaps and bath oils. Damian founded his small business after seeing the success of his younger sister’s small business.

The Business Growth Award was won by window installation, repairs and restoration business Heritage Window Specialists in Wetherill Park NSW; and Nova Team Australia from Beresfield NSW also won a Business Growth Award.

Business of the Decade was awarded to Next Level Elevators based in Victoria and to Family Dental Care Campbelltown in NSW.

Among the individual category award winners this year…

Pinnacle People Solutions based in Armidale NSW won the 2024 Business Consultancy title for its quality HR services for regional businesses.

Success and Broker based in Queensland won the Business Coaching category; and BNI Gold Coast Tweed Shire was declared winner of the Business Services category.

“This year’s Awards saw a record 5,500 small business submissions from cities as well as rural, regional and suburban towns in every Australian state and territory. This is more than we’ve ever seen since our launch year in 1999,” said Steve Loe, Awards Founder and Managing Director of Precedent Productions, which coordinates the Australian Small Business Champion Awards.

“This year’s submissions spoke volumes of the resilience of Australia’s small business sector which is enduring what may be the toughest period in recent memory with a number of challenges associated with increased expenses and operating costs, staff hire, productivity and the overall ongoing high cost of living.

“Now more than ever is the time to time to shine a spotlight on Australia’s hardworking small businesspeople and to recognise their invaluable contributions to their communities and to the nation as a whole,” added Mr Loe.

As revealed in a recent independent national survey commissioned by Precedent Productions, 68 per cent of small business owners today believe that current government regulations hinder opportunities for small business more than they support it.

The survey also revealed that almost half (46 per cent) of all Australian small business owners consider their most significant competition to come from large or medium-sized businesses, with those based in NSW and Victoria the most pressed by large or medium competitors (51 per cent).

“Operating a small business today requires steadfast commitment, leadership, savviness, creativity, people skills, vision, social consciousness and a spirited drive – all elements of success that our independent judging panel pinpointed as among the key reasons for their selections of this year’s Champions,” said Mr Loe.

“I am blown away by the growth of this programme and its intensifying spotlight on the most deserving small business operators, who valiantly serve their communities and encourage us all to strive for success with ample drive, determination and fortitude,” added Mr Loe.

Hosted by popular Nine presenter and journalist Jayne Azzopardi, this year’s National Presentation Gala featured star-studded entertainment fitting to the Champion Awards’ biggest year in more than a quarter of a century. Dami Im, Harrison Craig, Johnny Manuel and Stefanie Jones were among the red-carpet event’s headline stage acts.

The Awards were supported by Presenting Partner the Commonwealth Bank, and Major Partners Nine Ad Manager, NOVA Employment, Castaway Forecasting, Big Clean, Xcllusive Business Sales and Boa.

For more information – including a full list of 2024 Australian Small Business Champion Award winners – visit: businesschampions.com.au.

Millions of Australians have visited a restaurant or place of interest, purchased something from a shop, bought concert tickets or music, or donated to charity – all because they saw it on TikTok. The inaugural ‘TikTok Economic Impact Report,’ by Oxford Economics found that in the last financial year, TikTok contributed $1.1 billion to Australia’s GDP and supported nearly 13,000 jobs.

Definitely two stats worth dancing about.

With more than 8-and-a-half million Australians on TikTok, and more than 350,000 businesses, TikTok is proving to be a powerful tool for businesses, both big and small, and the contribution to the economy and jobs is real.

The report found that investments in advertising and marketing on TikTok (FY23) generated $1 billion in direct revenue for Australian businesses, and with flow on impacts, the GDP contribution grew to $1.1 billion.

Oxford Economics spokesperson said TikTok can act as a “signpost” to the real world, offering people a way to discover new places to visit and new products and services.

“In fact, millions of people have visited a restaurant or shop, or purchased music or bought concert tickets after watching TikToks. This means businesses can, and do, really leverage the platform to grow.”

● 78% of business respondents said that TikTok had a positive impact at expanding their business’s reach. That’s great news for the 350,000 businesses using TikTok.

● 38% of users, or up to 3.2M people, reported purchasing a product or service recommended on the platform at least once a month during FY23 (Based on the review period and TikTok’s AU user base of 8.5m).

● Around 3.5M people (41% based on TikTok’s Australian user base) visited a TikTok recommended restaurant or shop at least once.

● Around 21%, or 1.8M people purchased music or concert tickets after discovering music on TikTok.

● 77% of businesses surveyed said it allowed them to reach new Australian audiences

● Around 19% (1.6M) of people have donated to a charity or highlighted cause, and around 18% (1.5M) committed their time to volunteer.

● Those aged between 35-44 had the highest levels of donating (42%) and volunteering (43%) to charities with a TikTok presence.

How people engage with TikTok is fairly similar across the country, with entertainment coming in as the number one reason. People in regional centres love DIY and home content, while those in metro areas lean into the arts, sport and politics a little more.

Using TikTok for business has been embraced by younger businesses. In the sectors surveyed, 54% of businesses aged between 5 and 9 years reported using TikTok at least once a month for advertising and marketing purposes, followed by 42% of businesses under 5 years old.

TikTok, GM of global business solutions, Brett Armstrong, said it has become an integral part of the social fabric of Australia. “TikTok has become a platform that is loved by millions of Australians and used by more than 350,000 businesses, of all shapes and sizes, to reach new customers and markets. This helps to create jobs and put money back into the economy.

“Our unique recommendation system focuses on engagement and interests, rather than follower numbers. This allows both new and established businesses to tap into popular trends and culture without the need for big marketing resources. “

While younger businesses like Brooki Bakehouse in Queensland have embraced the platform, more established ones, like Dymocks, are also finding new audiences and customers through TikTok.

Brooke Saward – Brooki Bakehouse – “Most of my bakery sales come from TikTok, and on weekends there is a queue down the street”

Dymocks – The rapid rise of the BookTok community helped Dymocks reach a new audience and grow sales. This has led to designated BookTok/TikTok displays in store where they promote popular new releases in addition to products that will appeal to the TikTok audience.

Swann, a global leader in do-it-yourself security, today announces the availability of Swann HomeShield™, a powerful AI-driven voice assistant which is set to redefine home and small business protection. Developed with Amazon Web Services (AWS) technology, this state-of-the-art solution harnesses generative AI to communicate with visitors, providing an unparalleled level of deterrence and peace of mind.

Launching in May, Swann HomeShield™ will enhance compatible Swann video doorbells, cameras and devices, using the latest adaptive AI technology to automatically respond to visitors with natural, human-like interactions. 

By employing heat and motion-based Passive Infrared (PIR) sensors, video analytics, and activity pattern analysis, Swann HomeShield™ can autonomously facilitate interactions in several scenarios that include accepting packages and screening unexpected visitors all while giving the impression there is a real person at home with an active presence. 

This innovative AI capability leverages the cutting-edge Amazon Bedrock service from AWS combined with the deep capabilities of AWS Lambda’s serverless computing service. Amazon Bedrock is a fully managed service that offers a choice of high-performing foundation models (FMs) via a single API, along with a broad set of capabilities needed to build generative AI applications, while simplifying development with security, privacy, and responsible AI.

At the core of Swann HomeShield™ lies Anthropic’s new Claude 3 Haiku advanced language model (via Amazon Bedrock), uniquely trained to act and answer as a knowledgeable housemate, aware of residents’ preferences. When a visitor approaches, HomeShield™ leverages AWS Lambda and Amazon Bedrock. The AI-generated response is then converted to speech and played back through the camera, providing a responsive experience that emulates interacting with a resident in real-time.

“Swann HomeShield™ represents a paradigm shift in smart security solutions,” said Alex Talevski, CEO of Swann Security. “This launch is a big step of accessible AI amongst everyday consumers, offering an easy and affordable solution to not just easily accept deliveries and screen unexpected visitors when they’re not at home, but also help keep families safe. Powered by Amazon Bedrock’s cutting-edge AI capabilities with Anthropic’s Claude 3 Haiku, Swann HomeShield™ sets a new benchmark for intelligent home protection, reinforcing our commitment to innovation and customer safety. When Claude 3 Haiku launched on Amazon Bedrock, we switched from Claude 2.1 in a couple of hours, and the speed of responses is 30% faster and significantly more accurate.”

“AWS is always striving to develop innovative technologies that enrich customers’ lives. AWS is democratising access to generative AI making it easier for customers of all sizes, across all industries, build and scale generative AI applications customised to their businesses,” said Louise Stigwood, Director of Enterprise, AWS Australia and New Zealand. “By harnessing the power of Amazon Bedrock, Swann HomeShield™ delivers an ability to engage visitors in natural voice conversations, representing a big leap forward in smart home technology and a great example of the power of generative AI.”

Swann HomeShield™ is affordable for everyday home users, at A$12.99 per month as part of the standard Unlimited Plan within Secure+ membership via the Swann Security app, compatible with iOS and Android. It can be easily integrated with the Swann product range including:

• SwannBuddy4K™ Wireless Video Doorbell (can be operated wirelessly or connect to existing doorbell wiring)
• Xtreem4K™ Wireless Security Camera (uses rechargeable battery power)
• MaxRanger4K™ Long-Range Wireless Security System (with solar-powered cameras and a hub)
• MaxRanger Stella™ 4K Long-Range Wireless Video Doorbell (coming soon), will provide smart AI security at perimeters and far-away entrances like never before. The Stella Doorbell will be able to be positioned at doorways and gates that are long distances away from the controlling hub. 

For more information on Swann’s range of devices, visit swann.com

Gen Z will make up more than a quarter of the global workforce by 2025, according to McCrindle Research data. However, when it comes to retaining staff of Gen Z (those born between 1995-2009), employers need to better understand and support the Gen Z workforce in building their offline professional personas, says leading Gen Z expert and social researcher, Claire Madden.

As more and more Australian workers are being encouraged to return to the office, Claire says that Gen Z is at risk of increased anxiety because they’re not as confident as older generations when it comes to interpersonal skills and face-to-face interactions.

“Following The Great Resignation, it seems like we may now have The Great IRL Hesitation: people feeling awkward in office interactions, presenting, asking for help, and even just picking up the phone for a call can fill many Gen-Z and Millennial employees with dread and create a feeling of apprehension,” explains Claire.

A 2023 US study revealed that 90% of Gen Z employees experience social discomfort or anxiety at work, with ‘being called on in meetings’ and ‘giving presentations’ in their top five reasons as to why they feel anxious.

Claire is adamant that the situation is just as pressing in Australia as it is in the US and accordingly, says that Australian employers – especially those calling on staff to return to more days in the office – should be considering ways to help Gen Z feel more confident in real life interactions for a more productive work environment and healthier future leaders.

“The way we work is being redefined for Gen Z, as they emerge into their career years amidst seismic global shifts and rapid disruption.

“Gen Z bring unique strengths into the multigenerational workplace. They are informed consumers, willing contributors, and digitally capable. Yet whilst they are tech-savvy and confident at curating their virtual identities, there can be a confidence gap when it comes to interpersonal skills and communicating face-to-face with clients and colleagues. They’ve been starved of the multiple opportunities to foster these skills in the way their older colleagues have,” adds Claire.

To help address the issue, the National Institute of Dramatic Art (NIDA) has released a collection of on-demand professional development courses – called Prologue by NIDA – inspired by the lessons and insights of the NIDA Corporate Training team.

“NIDA is renowned for training some of our most famous on-screen stars, and for over 30 years through our acclaimed NIDA Corporate Training, we’ve also been training Australia’s top and emerging business leaders in effective communication, influential leadership and face-to-face presentation skills. It’s so exciting to be sharing these skills and insights with people across Australia through this new self-directed Prologue by NIDA experience,” says Terri Martin, Head of NIDA Corporate Training.

Prologue by NIDA’s first course, Act Natural, includes a hardcover book, app, audio guide, films and games deliberately designed to engage Gen Z.

Lessons within the course take 15-30mins a day, and the full course requires approximately six to eight weeks to complete. The course is now available for purchase via https://prologue.edu.au/ and costs $759 incl GST (tax deductible for some) and also available to purchase using AfterPay.

“It makes sense for an offering like Prologue by NIDA to come along, that not only helps Gen Z with crafting their offline persona and communicating effectively in the workplace, but also delivers entertaining and insightful content in a way that works for them,” adds Claire Madden.

In addition to investing in courses such as Prologue by NIDA, Claire’s top tips for managers of the Gen Z workforce are:

·         Facilitate a supportive relational environment in your workplace culture. Teaming up colleagues to work together on a project will help Gen Z build offline relationships and feel like they can be their true authentic selves at work.

·         Give Gen Z achievable opportunities to grow their confidence in face-to-face communication – including training and development, and contexts where they can share their knowledge.

·         Creating pathways that provide Gen Z with personal and professional development is key to a retention strategy.

·         Help Gen Z identify and develop ‘transferable’ skills that they will be able to take with them on their career journey into the future. This includes skills like communication, problem solving and leadership skills.

·         Secure foundations and positive sense of self-awareness and confidence within Gen Z because this will translate to confidence in interactions with colleagues and clients.

·         Provide regular, ongoing, positive and constructive feedback to Gen Z. They have become conditioned to regular feedback through online platforms. In the workplace they like to know whether they are doing things well and how to improve in their work. Remember it doesn’t take long to give a positive compliment after you see a staff member do a good job.

Claire Madden is internationally renowned as a ‘Voice for Gen Z’ and works with some of the nation’s largest companies and leading brands on the changing landscape of Australia’s younger workforce and the implications for business and society when it comes to interrelating with Gen Z.

For more information about Prologue by NIDA: https://prologue.edu.au/

Shopify POS Go is the all-in-one mobile POS device built for reliable, fast and simple on-the-floor selling. The hand-held device functions as a POS station, barcode scanner, and card reader, helping businesses easily process transactions without the hassle of additional hardware. 

Shopify , a provider of essential internet infrastructure for commerce, has launched two point-of-sale (POS) solutions in Australia to empower merchants with the product and platform they need to design seamless, reliable, and integrated in-store experiences.

For businesses looking to turbocharge their countertop setup, Shopify’s best-in-class POS Terminal is now also available to Australian retail businesses. The payment hardware provides a full-featured customer display, guiding buyers through purchase with clear flows for checkout, payment, PIN entry, tipping, and receipt selection. POS Terminal accepts tap, chip, and swipe payments at the counter, with solid WiFi and Ethernet connectivity. 

The launch of these POS solutions follows findings from a Shopify study that found that when it comes to making new product discoveries, preferences towards browsing in-store (42%) and online (41%)  are almost evenly split among Australian consumers.

Shaun Broughton, Managing Director APAC at Shopify said: “We know that unified commerce is more important than ever, with our research showing a reasonably even spread between online and in-store preferences among consumers. But creating an efficient and differentiated in-store experience can often be quite challenging for merchants balancing outdated solutions that are disconnected from their online presence and back-office systems.”

“With the launch of the POS Go and Terminal, we’re doubling down on in-store retail and are thrilled to support Australian businesses with our next-generation point-of-sale technology. Both products work seamlessly with Shopify’s ecosystem of tools, apps, and omnichannel data reporting to create a unified experience, both for our merchants and their customers.” 

Alexandra  McNab, COO at Bared Footwear  said: “Shopify’s new POS Go has had a fantastic impact in our retail channels, enabling an elevated shopping experience for which Bared is renowned. It’s early, but we’re already finding the device has enabled better end-to-end service with our floor team, reducing queues at the counter, and freeing us up to spend more time genuinely helping our customers. We’ve piloted the device in one store, and are definitely excited to roll them out across our network.”

To learn more about the Shopify POS Go and Terminal, head to https://www.shopify.com/au/pos/hardware