A stock exchange might not seem like the most likely place to publish fresh social content and connect with younger generations. But then again, Nasdaq has always been ahead of its time. Nasdaq was the first electronic stock market and dates back to the 1970s. Although most people have probably heard of the company, many of them couldn’t actually tell you what Nasdaq does.
That’s where Chief Digital Officer Josh Machiz comes in. His job is to connect Nasdaq with a younger audience and tell the story of what Nasdaq actually does. With a fresh strategy and relevant content, he’s connecting with a new audience and growing the company’s brand and experience.
When Machiz joined the Nasdaq PR team in 2013, the company wasn’t doing much—if anything—with digital marketing and social media. But because Nasdaq is focused on innovation and technology, Machiz knew the company had to be able to showcase the stock market of the future digitally. A focused effort on growing social content has increased Nasdag’s followers from 20,000 to more than 3 million in just five years.
Part of the way Nasdaq is gaining traction is by focusing on the innovators who are changing tomorrow. Companies come to Nasdaq to go public on the stock exchange. As Machiz says, the company is a dream factory where dreams come true. Many of the recent companies to go public resonate with entrepreneurs at different stages of building their companies.
Nasdaq’s social content is aimed largely towards younger entrepreneurs and Millennials. These people likely aren’t the ones who will be considering taking their companies public any time soon, but it’s never too early to build a loyal audience. Younger people are very influential to older people. As today’s entrepreneurs and founders get even younger, it’s important to get in early with a consumer audience and build the next cohort of potential customers.
Social content is huge for attracting a younger audience and showcasing the Nasdaq brand of innovation. One of the hallmarks of Nasdaq’s efforts is the “Never Settle Show”, a weekly talk show in front of a live studio audience that’s live streamed around the world. The show is regularly recognized for its interactive nature and even won a New York Emmy. The “Never Settle Show” covers the entrepreneurial hustle and is all about removing boundaries to entrepreneurship and making it accessible to everyone. Aside from the talk show, Nasdaq also has other podcasts and shows to showcase its brand and connect with a new wave of entrepreneurs.
Live shows are popular at Nasdaq, though that hasn’t always been the case. Aside from the “Never Settle Show”, Nasdaq has also partnered with CNBC to broadcast “Squawk Box” and “Fast Money” every morning and evening from its innovative market site. Machiz hopes to increase partnerships in the future with online publications and new media outlets to expand Nasdaq’s audience.
As technology grows and changes, Nasdaq will keep growing right alongside it. The company already has big plans to integrate AR and VR offerings into its social content and office space. Nasdaq is living proof a company in any industry can transform its brand and connect with customers on a different level with quality social content.
Shopping for a new couch or rug is unlike any other kind of shopping. First, customers don’t buy these kinds of household items as often they do other products, and they often don’t know what to search for. Instead of knowing the right keywords to search, buying home items is more about the visual approach and knowing what items look good in the space. A customer might want a blue rug, but they don’t know what brands or details to put into the search bar.
That’s part of the reason Wayfair, the largest online provider of home goods, relies so heavily on algorithms and analytics. The company has algorithms for managing all areas of the customer experience, from what a customer sees on targeted web ads to what delivery experience they have and how often they receive marketing emails. It’s all in an effort to better understand customers and make it easier and better to buy home items online.
Wayfair uses visual search and computer vision to add a visual element to AI. Customers can take a picture of something they see at a friend’s house or in a store, and Wayfair’s visual search finds products that look similar. It makes for a more pleasant shopping experience than trying to find the right keywords to match the look a customer is going for.
According to John Kim, Wayfair’s global head algorithms and analytics, much of the company’s success in customer experience comes from how it leverages its computer vision. Wayfair has 1,900 engineers and data scientists that are broken down into customer experience pods. One group focuses solely on how customers find what they are looking for, including things like keyword search, visual search and targeted ads. Another pod focuses solely on the buying aspect of the customer experience and makes it as seamless as possible for customers to buy what they want. Pods work together to make their aspect of customer experience the best it can be. By bringing together data scientists and engineers, the pod can not only come up with great ideas, but it also has the skillset to put them into action quickly.
Wayfair’s culture focuses on customers and analytics. No matter if an employee is in marketing or IT, they understand the importance of analytics and can speak the language. Customers are the focus of everything the company does, and it aims to move quickly and respond to customer needs.
Wayfair also uses technology as it moves towards the future. It recently partnered with Magic Leap to introduce mixed reality shopping, which allows customers to virtually see products in their homes to make sure they fit the space and style of the room before making a purchase. It brings together the best of AR and VR for an enhanced shopping experience.
AI is the future, and it has a major role to play a Wayfair. Focusing on algorithms, visual shopping and AI-powered analytics drives a successful customer experience and makes it easier for customers to find what they need online.