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thunderfeather-blog · 4 years

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What is Macro Economics? Macro Economics Explained

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What are macroeconomics and how do you win 100 bucks Bitcoin Cash? Stick around, I’ll tell you.

What is going on crypto family, so today I’m gonna be doing a quick and dirty post, and to be quite honest with you, a gross oversimplification of what a macroeconomics are.

Macroeconomics can be summed up as basically a study of the collection and overall commercial input-output and health of nations. It includes analysis of factors like unemployment, inflation, economic growth and interest rates. Using macroeconomics some people think they can predict where and when the booms and busts of economies will occur, but is that even possible? Can you really build a macro trends model accurate enough to establish when and where to invest to gain a profit?

To answer this question there are a number of factors to consider. First of all, in today’s worldwide economy everything is intertwined, there are numerous variables, a number of unknown factors and a ton of unpredictable relations and reactions that no economist can possibly know. In fact, one opinion on the subject is that gathering all the information needed to make accurate predictions is simply impossible. But is it? Right before the global crisis of 2007 and 2008 thanks to certain markers a handful of people had foreseen the collapse coming and managed to bid against the real estate market making millions of dollars while everyone else was losing everything. Stories like this, they suck but they’re fascinating with perjurer as case studies but they are not the norm. Riding the waves of the market without falling and drowning is mostly dependent on dumb luck, and that’s not a variable that multi-million dollar companies like to include in their business plan.

That being said, even if microeconomics isn’t necessarily a reliable compass, keeping an eye on the horizon to spot an approaching storm is better than burying our heads under the sand and hoping for the Sun. For many, macroeconomics is not a betting tool, it is simply an instrument of stability and planning that aims to give a better understanding of a whole economic echo system. Two examples of factors that are taken into account forming this kind of study are GDP and the unemployment rate. GDP stands for the gross domestic products and can be summed up as all the monetary value of goods and services bought and sold on the market in a certain period of time. GDP can be used to compare national economies to the international market or a measure of living standards between nations. However, it doesn’t consider parameters like environment, education and personal freedoms. When comparing GDPs of different years it’s important to consider variations in currencies value.

If the GDP of a country doubles over 20 years but in the meantime, inflation has reduced the value of money in half, what looks like major growth, in reality, is just a stable situation. The unemployment rate, on the other hand, is a perceptual value obtained by dividing the total number of unemployed workers, you know, those who qualify to be included in reporting, by the total of the labor force and then multiplying the result by 100. It gives you an idea of how many people can’t get a job in their country even if they really wanted one.

In the context of the unemployment rate, an unemployed worker is defined by those who are actively seeking for a job and haven’t found one yet. Those without a job and not looking to get one, like a college student, simply don’t qualify in those numbers. In the same manner, in the grand total of the labor force not reported it also includes children and retired folks.

Some other things macroeconomics covers are inflation and the Consumer Price Index, the overall fiscal and monetary policies of a country and how it all ties together. A funny thing about microeconomics is that when evaluating a market, it doesn’t really care that much about the economic model in use. Capitalism, communism, socialism, in a sense all become equal under the lens of macroeconomics and are ultimately judged only by the results, not by the philosophy behind the numbers.

So to sum everything up and with all the considerations on the table, I’d like to leave you with what one of the most influential investors in the world thinks about economists.

I don’t pay any attention to what economists say, frankly. ~ Warren Buffet, 2016 CNBC interview.

Well, think about it, you have all these economists with 160 IQs that spend all their life studying it, can you name me one super-wealthy economist that has ever made money out of securities? No. Warren Buffet is famous for considering many economists and microeconomics a silly thing, and he’s not alone. According to some of the other big players as well, trying to predict where the market is going is like chasing the wind. Good luck with that.

So in closing, I hope that this super quick and dirty post on macroeconomics has brought you some value, hopefully, at the very least you have a better understanding of all the things that go into making economies work. So please also let me know in the comments below what your thoughts are and what you want me to cover next.

And for the people that want the win the 100 dollars of Bitcoin Cash, go to the YouTube video, like, subscribe and post a comment with your public Bitcoin Cash (ABC) address. Come back on the live stream on Sunday or Monday on the Crypto Beadles YouTube channel to hang out with us and post with the same Bitcoin Cash (ABC) address in the chat. If you have not done all the steps another winner will be chosen, no exceptions. Crypto Beadles may or may not use the above method to pick a winner as well. He may randomly change the requirements on the fly and just choose someone based off an on-air task as well. If you’re not ok with this, don’t participate. In the meantime, we also did a quick and dirty video and post on how economies work. Why don’t you go check out that video or post, I’ll meet you there. God bless you, I love you and I’ll see you over here on market economies.

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*This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.*

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#macroeconomics #economics #economy #economic development #Crypto Beadles

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kechapman94-blog · 4 years

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TikTok: The New Vine?

For my media switch up, I’ve chosen to focus on the popular new social media platform, TikTok. TikTok allows users to create short videos dancing/lip syncing. Prior to this week, I hadn’t interacted much with the app for TikTok. A lot of the videos are shared on Twitter and Facebook so I did not feel the need to invest my attention into yet another social media application. However, once I returned to the states, one of my friends convinced me to download the app and I’ve been captivated ever since.

The most widespread users of this application appear to be Gen-Z. This makes sense because of the nature of the videos present on the app. Many of the videos are viral dance challenges that are being created as this generation comes of age. It is reminiscent of millennials’ fascination with Vine years ago. Vine was launched in the early days of social media when Instagram and Twitter were just starting to become popular. I believe had Vine launched today it would be just as popular as TikTok rather than dying out the same way that MySpace has.

One thing I found interesting about TikTok is the ability to make the videos up to 60 seconds in length. I would think that in today’s fast-paced society, it would be difficult to hold a viewer’s attention longer than 30 seconds and even that’s a stretch. However, including this feature means that brands can create fully developed commercials within the application if they so choose.

Some examples of businesses using TikTok are Chipotle and the NBA. Chipotle created a TikTok with a #GuacSong that started a #GuacChallenge in which viwewers danced with avocados. The NBA has used the app to present more personal videos of athletes working out, playing in games, or draft stories. By doing this the NBA is showing the more light-hearted side of its organization and appealing to the emotions of viewers.

Overall, TikTok is becoming a powerful social media tool. As seen with Chipotle, the app can be used as a widespread marketing tool with relatively simple execution of an idea. As the application continues to grow in popularity I think we will see more companies implore their creative departments to utilize the popularity of viral dance challenges, etc. to appeal to customers. Furthermore, I think we will see popular Youtube influencers use TikTok to drive individuals to their Youtube pages. Currently, you are unable to be paid for content on TikTok, but it can be used to divert consumers to a Youtube subscription that can be monetized.

https://www.tiktok.com/@chipotle/video/6720653674525363461

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confusedthirdculturekid · 4 years

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How Digital Marketing Will Change in the 2020s

How many times have we marveled at how a product or service we were discussing with friends or family, or even just thinking about has shown up on our social media feeds, with an option to buy? Equal parts convenient and fascinating, the data gathering and analysis underlying such occurrences is integral to digital marketing.

Targeted marketing

With our digital footprints being ever-increasingly detailed, and media and IT conglomerates making data sharing across platforms seamless, the opportunity to really drill down audiences in the market for various products and services is truly endless. The future here looks like me being able to find exactly that item I have in my head, without an excruciating search process and numerous dead ends.

Personalization really is the name of the game, rendering the mass-marketing techniques of yesteryears obsolete. To take full advantage of this, marketers ought to deploy tools for effective data gathering and analysis, which then inform marketing strategies. After all, it is a telling statistic that 80% of consumers prefer doing business with entities that offer personalized services.

Micro-influencer marketing

Influencer marketing is already making waves across industries, as this avenue encourages niche marketing and sponsorship.The appeal of influencers lies in the authenticity they represent as they show audiences the inner workings of their lives and connect with followers through common interests. This is a platform that will become increasingly important, with 70% of today’s teenagers having more faith in influencers than in celebrities, illustrating the power of influencer endorsements.

The future of digital marketing in this sector will emphasize micro-influencers who have fewer followers but a more targeted reach, translating into better engagement, as these influencers are able to better connect with their followers and generate content that is highly relevant to them.

So how do you make sure you don’t miss the boat on this one? Do your research on the influencers whose platform is most suited for your brand, and establish working relationships with them for one-off or longer-term promotions across their social media channels. The very first step here should be to familiarize yourself with the influencer’s work to determine if it really is a persona you are comfortable being associated with your brand, as they will serve as a spokesperson of sorts for your organization.

Unlike working with contractors and employees, influencers expect somewhat varying levels of autonomy in content creation; this is in the interest of brands as well, as it helps ensure that sponsored content is in tune with the influencer’s online persona, making it an easier sell and not coming off as a marketing gimmick. The fast-changing landscape of social media means that it is vital to stay up to date on the work of the influencer you’re partnering with, not only with regards to your contract but also looking at the entirety of their work. To stay up to date with the latest trends and rising stars on social media, a regular scan of new platforms and influencers gaining momentum in your industry will become even more important, to keep partnerships fresh and to widen your reach through such marketing.

Niche social media channels

As the community of influencers changes rapidly, so do the platforms they use. Alternative channels like TikTok, Snapchat, Pinterest, Medium, and Reddit, are seeing higher usage rates. While Facebook, Twitter, Instagram, LinkedIn and YouTube remain the big fish in this pond, marketers should be paying attention to other platforms as well, considering how they may find their audiences there too. We are also likely to see a continued focus on social media analytics and evaluation, with more sophisticated measurement tools taking the market by storm.

Interactive content

Interactive content is taking over, leaving traditional content behind; a trend we will only see more of. This user ability to manage their experience and personalize the content they’re exposed to will pave the way for the future of digital marketing. Creating fun and engaging interactive components like polls and quizzes for instance, is already important, and will become even more so as brands need to differentiate in an increasingly competitive market.

Here are some ways that interactivity will become front and centre of digital marketing efforts of the 2020s:

Social commerce / Shoppable posts

Currently, more than half of the buyers out there, research their prospective purchase on social media. It should come as no surprise that allowing customers to shop directly through a social media platform, without leaving the app, will become more common and heavily used.

To best utilize this feature now and in the future, companies must focus on creating a smooth end to end purchase experience that is quick, easy to use and enhances the likelihood of a completed sale.

Voice search

The prediction that more than 50% of searches this year will be voice searches (as per ComScore) demonstrates that while this technology has been around for some time, its usage has gone up significantly recently and will continue to do so. As voice-activated devices like Alexa, Siri and Google Voice become more prevalent and accurate, it will become vital to include voice search in digital marketing planning, and to optimize content for voice search. This may necessitate use of long-tail keywords, and long-tail search queries for search engine optimization, to correspond with how people search by speaking i.e. in a conversational tone, rather than how they would type.

Chatbots

With 80% of businesses looking to incorporate chatbots this year, and an estimated annual savings of $ 8 billion from 2022 onwards attributed to chatbots, it makes good business sense for chatbots to become central to digital marketing. Customers also find chatbots easier to use, responsive at all hours, prompt and accurate, making them even more viable.

Visual search

Image search, available on Google and Pinterest is a visual tool that enables users to take pictures of things and places to find out pertinent details about them, such as where to find what’s in the image, and where similar objects may be available. This will drastically change how users search; and digital marketers would do well to ensure content is tailored to be visually searchable, to avail of this huge opportunity.

AI and automation

AI and automation, having taken over many roles already, is set to play a vital role in digital marketing, so it’s advisable to begin incorporating it, if you haven’t already. AI not only offers companies competitive advantage and the opportunity to move into new businesses areas, it can also help reduce costs and meet demands of consumers seeking AI-compatible products and services.

Additionally, AI can support personalized marketing efforts by collecting improved customer data and enhancing how it’s used. One example of this is the way in which AI can inform video creation, by better understanding viewer behaviour. It also facilitates smoother customer experiences through the use of predictive technology that directs marketing more effectively.

Video

A well-thought out video strategy will also become increasingly important, as consumers gravitate towards audio-visual content. The years to come will be an opportune moment to test out different video styles that cater to the various audiences you seek to engage.

Similarly, the popularity of vlogging is on the rise, given the direct, personal and empathetic nature of this channel. In the 2020s, plan for being able to live-stream events and shoot behind the scenes content, strengthening your relationship with customers, solidifying brand image and better engaging audiences in the process.

Neuromarketing

It’s predicted that neuromarketing will soon become a potential digital marketing tool. This is a method of “analysing measurements of a person’s brain activity to determine which types of content are ENGAGING to them” through the use of complex algorithms, neurometrics and biometrics that accurately measure the emotional responses that content generates, and the attention that its garnering. This can have widespread implications for marketers’ ability to create content that is provably engaging to target audiences and to tailor marketing strategies based on the neurological responses of content consumers.

A word of caution

Data collection on such a wide scale as we`re seeing has implications for stereotyping audiences based on race, ethnicity, gender, socio-economic status, religious affiliation, education level and various other markers of identity. Thus, the tools we use to shape digital marketing will have an essential role to play in avoiding typecasting people or reducing them to labels to predict behaviour; instead, these tools must account for the complex, multi-layered ways in which people make market choices. In addition, compliance with consumer privacy and protection regulations must be stringently maintained, to ensure client rights are protected. Such practices have an added advantage in that they build trust with your audiences, enhancing brand loyalty and supporting positive brand association.

Conclusion

Finally, technological advancements abound, there are nevertheless some marketing tools that will remain relevant, such as paid and organic search campaigns and interactive email marketing. While it’s important to have the right tools in your toolkit, an overarching marketing and media strategy will still remain essential. Technology aids the expertise social media professionals bring, but it does not replace it now or in the decade to come; that is to say, what digital marketing tools offer in terms of efficiency and higher productivity is complemented by the communications experts working behind the scenes. So while we may see more automation, this will create capacity for digital marketers to implement more complex and multifaceted communication strategies, rather than making them obsolete.

In conclusion, the challenge for digital marketers of tomorrow will be to effectively balance current and proven marketing tools with the exciting new innovations coming down the pipeline to implement marketing that is of better quality, more engaging, precisely targeted and able to meet and exceed KPIs.

Sources

https://www.sociallyinfused.com/social-media/social-media-tools-you-need-to-try-in-2020/

https://www.forbes.com/sites/forbesagencycouncil/2020/02/03/2020-trends-in-digital-marketing/#2fb3799a2f03

https://medium.com/@bizsites/the-future-of-digital-marketing-whats-new-in-2020-6d13010fb37e#:~:text=Chatbots%2C%20while%20kind%20of%20old,statistics%20for%20AI%2Dbased%20technology

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