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Solving problems for customers remains focus of DX

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Customer data and customer experience can unlock both revenue gains and cost savings for companies.

In fact, analytics and a customer-centric focus allows companies to “build customer loyalty, make employees happier, achieve revenue gains of 5 to 10 percent, and reduce costs by 15 to 25 percent within two or three years,” says McKinsey.

In a recent survey by global communications company Mitel, almost three quarters of businesses report over 50 percent progress in improved customer experience thanks to their digital transformation efforts. Yet significant barriers remain, like legacy infrastructure and business misalignment.

Mitel is working through this digital transformation firsthand, building up their own internal capabilities as well as advocating for clients that are disrupting established business practices.

To find out more about how customers should be the focal point of business transformation, DX Journal spoke with Wes Durow, Chief Marketing Officer of Mitel.

DX Journal: How is digital transformation affecting business at Mitel?

Wes Durow: “More and more of our customers are choosing to switch to a subscription model. And in that world, response matters. When you buy something every seven, eight, nine years, you’ll sign a longer contract, you’ll probably put up with some ups and downs.

“But when you’re paying on a monthly basis for a service, you want short contracts, you want immediate response time, you want to have a stream of new features pushed out to you as part of your subscription. So we’ve gone through a pretty substantial transition in terms of how we wire up our own company, that does business across 100 countries across the globe so we can have that kind of response.”

DX Journal: What is the CMO’s role during digital transformation?

Durow: “Marketing should be an extension of a company’s strategy. Our vision for the company is to make communications and collaborations seamless. Today people have lots of tools to communicate and collaborate with.

“My role as CMO is really to make sure that what we communicate and what we take to market reflects in each of our customers, not only what they expect today, but lays the groundwork for what’s required tomorrow. That’s really just lining up our strategy with customer expectations and how we speak to the problems we solve in a way that makes the most sense for our existing customers and those prospects whose business we hope to earn.”

DX Journal: How is the change in perspective towards the empowered customer, driven by new technologies, impacting marketers?

Durow: “As marketers, you’re always about thought leadership, and you think ‘Oh, I’ve got to come up with the next big genius idea.’ It has kind of flipped, because the next genius idea is really being driven by the customer.

“Thought leadership now is really defined by how customers are using this technology, and how do we make it simple for them to do so, and how do we make it repeatable and easy to manage.”

DX Journal: How can companies better market their digital transformation efforts to their customers?

Durow: “The people that do a great job marketing it talk about what the different outcome is.

“The best companies that are really driving digital transformation and how this goes to market speak very clearly about the problems that are solved, and do it in a way that demystifies the technology. It doesn’t make it feel like they have to climb Mt. Kilimanjaro to get there. People want to leverage what they’ve got, have someone knit it together for them and do it in a way that helps solve a business problem.

“While the problem may be unique by vertical or even business, there’s a common thread across all of them. And if you just listen or seek to understand, you can sort through that. People aren’t really buying technology, they aren’t buying a solution, they’re really just buying a business outcome.”

DX Journal: Does AI assist this process, or is it just another challenging technology that companies must face up to?

Durow: “I think they all snap together. If you’re a company, you’re going to figure out, ‘Hey, what can I automate that’s going to be most valuable to my customers?’ And my ‘customers’ could be internal colleagues, or people that write cheques.

“The first thing you’re going to figure out is, ‘How can I automate every single thing I can?’ Then within that, you’ll to start looking at patterns. Because you want to make sure that where there’s human interaction, that should be the most high value experience.”

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5 tips for brainstorming with ChatGPT

How to avoid inaccuracy and leverage the full creative reign of ChatGPT

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ChatGPT recruited a staggering 100 million users by January 2023. As software with one of the fastest-growing user bases, we imagine even higher numbers this year. 

It’s not hard to see why. 

Amazon sellers use it to optimize product listings that bring in more sales. Programmers use it to write code. Writers use it to get their creative juices flowing. 

And occasionally, a lawyer might use it to prepare a court filing, only to fail miserably when the judge notices numerous fake cases and citations. 

Which brings us to the fact that ChatGPT was never infallible. It’s best used as a brainstorming tool with a skeptical lens on every output. 

Here are five tips for how businesses can avoid inaccuracy and leverage the full creative reign of generative AI when brainstorming.

  1. Use it as a base

Hootsuite’s marketing VP Billy Jones talked about using ChatGPT as a jumping-off point for his marketing strategy. He shares an example of how he used it to create audience personas for his advertising tactics. 

Would he ask ChatGPT to create audience personas for Hootsuite’s products? Nope, that would present too many gaps where the platform could plug in false assumptions. Instead, Jones asks for demographic data on social media managers in the US — a request easy enough for ChatGPT to gather data on. From there he pairs the output with his own research to create audience personas. 

  1. Ask open-ended questions

You don’t need ChatGPT to tell you yes or no — even if you learn something new, that doesn’t really get your creative juices flowing. Consider the difference: 

  • Does history repeat itself? 
  • What are some examples of history repeating itself in politics in the last decade?

Open-ended questions give you much more opportunity to get inspired and ask questions you may not have thought of. 

  1. Edit your questions as you go

ChatGPT has a wealth of data at its virtual fingertips to examine and interpret before spitting out an answer. Meaning you can narrow down the data for a more focused response with multiple prompts that further tweak its answers. 

For example, you might ask ChatGPT about book recommendations for your book club. Once you get an answer, you could narrow it down by adding another requirement, like specific years of release, topic categories, or mentions by reputable reviewers. Adding context to what you’re looking for will give more nuanced answers.

  1. Gain inspiration from past success

Have an idea you’re unsure about? Ask ChatGPT about successes with a particular strategy or within a particular industry. 

The platform can scour through endless news releases, reports, statistics, and content to find you relatable cases all over the world. Adding the word “adapt” into a prompt can help utilize strategies that have worked in the past and apply them to your question. 

As an example, the prompt, “Adapt sales techniques to effectively navigate virtual selling environments,” can generate new solutions by pulling from how old problems were solved. 

  1. Trust, but verify

You wouldn’t publish the drawing board of a brainstorm session. Similarly, don’t take anything ChatGPT says as truth until you verify it with your own research. 

The University of Waterloo notes that blending curiosity and critical thinking with ChatGPT can help to think through ideas and new angles. But, once the brainstorming is done, it’s time to turn to real research for confirmation.

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Inflation of goods vs. gold: How these costs have changed over time

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SD Bullion charted the changes in gold prices compared to U.S. inflation, using data from the World Gold Council and the Bureau of Labor Statistics.
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Gold has historically played an essential role as a store of value in economies worldwide.

The U.S. dollar used to be backed by gold, meaning money was exchangeable for an amount of the metal. This is known as the gold standard, which the U.S. started to abandon in 1933 during the Great Depression. With the rise of modern monetary policy, other countries followed suit and switched to the fiat currency used now, which is money backed by a government, not a physical asset.

Nowadays, gold is valued as a commodity to invest in, and many people see it as a hedge against high inflation and a safe-haven asset during times of recession or political tensions. Historically, the price tends to increase when inflation becomes high.

Since there is a limited global supply of gold, the metal, known for its luster and corrosion resistance, has earned a reputation as an asset with enduring value. Investors often seek out gold and other tangible commodities to offset the dollar’s weaker buying power when prices of goods and services rise.

While gold has indeed kept its value over time, its link with inflation hasn’t always held up, particularly in recent decades. Gold prices change for many reasons and can be volatile in the short term. Still, many people look to gold as one way to diversify long-term investments.

SD Bullion charted the changes in gold prices compared to U.S. inflation over the last decade, using data from the World Gold Council and the Bureau of Labor Statistics.


A dual line chart showing the fluctuations in gold prices compared to steadily increasing U.S. inflation.

SD Bullion

A decade of gold prices

When fiat currencies lose value quickly during inflation, gold has historically become more appealing to investors. However, parts of the past decade followed a somewhat unusual pattern. While inflation increased over those 10 years, the price of gold was in decline in the mid-2010s.

A significant reason behind that drop in gold prices—in contrast with rising inflation—was the 2013 gold crash, when the metal’s price fell 15% in two trading days. Weak sales of gold during the Lunar New Year, rumors of the Central Bank of Cyprus selling gold as part of a bailout, and noticeably high volumes of computerized trading were among the factors that influenced the slump before prices started upward again.

During the COVID-19 pandemic, the high-risk atmosphere and low interest rates incentivized investors to switch to gold to safeguard their wealth. The rising demand for gold—partially in reaction to talk of government stimulus, inflation, and economic downturn—made the metal outperform other assets in 2020, the World Gold Council noted. That August, the price of gold hit $2,067.15 per ounce, a record high at the time.

In 2023, gold prices continued to reach new highs amid steep inflation, attributed largely to demand for the metal in emerging markets, according to the World Gold Council. The industry group forecasted that escalating conflict in the Middle East would add to inflation fears, likely raising the price of gold in 2024.

Story editing by Rose Shilling. Copy editing by Tim Bruns.

This story originally appeared on SD Bullion and was produced and
distributed in partnership with Stacker Studio.

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The county receiving the most Small Business Administration loans in each state

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Flippa identified the county in each state where applicants were approved for the most Small Business Administration loan funds per capita in 2023.
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The Small Business Administration backed loans worth $27.5 billion through its primary lending program in 2023—rising well above pre-COVID-19 pandemic levels as government officials aim to stabilize the economy.

Many small businesses get their start and scale up with SBA loans, which increased lending to Black, Latino, and women entrepreneurs in the past few years in step with efforts to become more equitable.

Flippa found the county within each state where applicants were approved for the most SBA loan funds per capita in fiscal year 2023, which ended in September. The analysis was based on the SBA’s most common loan program, known as 7(a) loans. States are listed in alphabetical order.

SBA’s 7(a) program provides extra security to lenders when they loan money to small businesses that might otherwise be considered too risky to grant. Loans can be for up to $5 million, but in 2023, nearly 7 in 10 loans were for amounts of $350,000 or less. Small businesses can use these funds for real estate acquisitions or improvements, working capital, supplies and equipment, and for other business startup or acquisition purposes.

Barriers do still exist for eligibility, including income, credit history, and location, but SBA loans can be fruitful for founders who don’t qualify for conventional business financing. They can also provide protection against high and volatile interest rates, as SBA-backed loans have maximum interest rates that are predictable and often lower than other loans.

All but two of the #1 ranked counties had populations of less than 500,000—most smaller than 100,000. That’s not surprising, as the Census Bureau classifies about 99% of U.S. counties as small. Still, it signifies that these smaller communities are building successful entrepreneurial environments. In most cases, their small businesses are able to succeed beyond those within the major U.S. population centers—at least in terms of success in gaining SBA funding.

Read on to see whether your county was among those receiving the most SBA loans.


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Alabama: Cleburne County

– SBA loan funds approved: $5.6 million (About $375 per resident)
– Number of loans: 5

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Alaska: Sitka Borough

– SBA loan funds approved: $6.1 million (About $716 per resident)
– Number of loans: 4

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Arizona: La Paz County

– SBA loan funds approved: $3.1 million (About $185 per resident)
– Number of loans: 1

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Arkansas: Lawrence County

– SBA loan funds approved: $8.5 million (About $524 per resident)
– Number of loans: 3

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California: Madera County

– SBA loan funds approved: $29.0 million (About $186 per resident)
– Number of loans: 16

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Colorado: Summit County

– SBA loan funds approved: $20.6 million (About $662 per resident)
– Number of loans: 23

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Connecticut: Hartford County

– SBA loan funds approved: $95.6 million (About $106 per resident)
– Number of loans: 212

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Delaware: New Castle County

– SBA loan funds approved: $49.8 million (About $88 per resident)
– Number of loans: 121

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Florida: Gilchrist County

– SBA loan funds approved: $5.6 million (About $317 per resident)
– Number of loans: 2

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Georgia: McIntosh County

– SBA loan funds approved: $10.0 million (About $888 per resident)
– Number of loans: 3

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Hawaii: Kauai County

– SBA loan funds approved: $4.1 million (About $56 per resident)
– Number of loans: 8

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Idaho: Shoshone County

– SBA loan funds approved: $4.8 million (About $365 per resident)
– Number of loans: 4

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Illinois: Logan County

– SBA loan funds approved: $8.2 million (About $291 per resident)
– Number of loans: 2

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Indiana: Bartholomew County

– SBA loan funds approved: $16.4 million (About $201 per resident)
– Number of loans: 10

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Iowa: Chickasaw County

– SBA loan funds approved: $2.5 million (About $207 per resident)
– Number of loans: 6

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Kansas: Gove County

– SBA loan funds approved: $2.0 million (About $721 per resident)
– Number of loans: 1

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Kentucky: Owen County

– SBA loan funds approved: $5.1 million (About $456 per resident)
– Number of loans: 2

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Louisiana: Claiborne Parish

– SBA loan funds approved: $6.0 million (About $412 per resident)
– Number of loans: 5

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Maine: Knox County

– SBA loan funds approved: $5.3 million (About $132 per resident)
– Number of loans: 19

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Maryland: Allegany County

– SBA loan funds approved: $6.5 million (About $95 per resident)
– Number of loans: 9

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Massachusetts: Nantucket County

– SBA loan funds approved: $3.3 million (About $240 per resident)
– Number of loans: 8

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Michigan: Keweenaw County

– SBA loan funds approved: $4.3 million (About $2,101 per resident)
– Number of loans: 5

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Minnesota: Marshall County

– SBA loan funds approved: $5.1 million (About $559 per resident)
– Number of loans: 4

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Mississippi: Smith County

– SBA loan funds approved: $7.3 million (About $506 per resident)
– Number of loans: 14

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Missouri: Pettis County

– SBA loan funds approved: $17.4 million (About $406 per resident)
– Number of loans: 9

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Montana: Sweet Grass County

– SBA loan funds approved: $4.8 million (About $1,312 per resident)
– Number of loans: 1

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Nebraska: Nuckolls County

– SBA loan funds approved: $2.2 million (About $521 per resident)
– Number of loans: 1

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Nevada: Carson City

– SBA loan funds approved: $13.3 million (About $229 per resident)
– Number of loans: 15

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New Hampshire: Rockingham County

– SBA loan funds approved: $35.3 million (About $113 per resident)
– Number of loans: 117

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New Jersey: Cape May County

– SBA loan funds approved: $26.7 million (About $280 per resident)
– Number of loans: 27

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New Mexico: Torrance County

– SBA loan funds approved: $4.2 million (About $280 per resident)
– Number of loans: 1

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New York: Essex County

– SBA loan funds approved: $11.5 million (About $306 per resident)
– Number of loans: 8

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North Carolina: Dare County

– SBA loan funds approved: $13.3 million (About $362 per resident)
– Number of loans: 8

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North Dakota: Oliver County

– SBA loan funds approved: $384,000 (About $208 per resident)
– Number of loans: 1

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Ohio: Putnam County

– SBA loan funds approved: $7.4 million (About $214 per resident)
– Number of loans: 10

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Oklahoma: Craig County

– SBA loan funds approved: $4.4 million (About $311 per resident)
– Number of loans: 2

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Oregon: Wasco County

– SBA loan funds approved: $6.1 million (About $229 per resident)
– Number of loans: 7

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Pennsylvania: Jefferson County

– SBA loan funds approved: $6.8 million (About $153 per resident)
– Number of loans: 8

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Rhode Island: Kent County

– SBA loan funds approved: $14.9 million (About $88 per resident)
– Number of loans: 39

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South Carolina: Jasper County

– SBA loan funds approved: $5.5 million (About $192 per resident)
– Number of loans: 5

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South Dakota: Deuel County

– SBA loan funds approved: $1.5 million (About $341 per resident)
– Number of loans: 1

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Tennessee: Decatur County

– SBA loan funds approved: $3.0 million (About $262 per resident)
– Number of loans: 2

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Texas: Menard County

– SBA loan funds approved: $1.5 million (About $745 per resident)
– Number of loans: 1

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Utah: Piute County

– SBA loan funds approved: $1.4 million (About $746 per resident)
– Number of loans: 1

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Vermont: Windham County

– SBA loan funds approved: $9.2 million (About $201 per resident)
– Number of loans: 15

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Virginia: Richmond County

– SBA loan funds approved: $6.9 million (About $777 per resident)
– Number of loans: 22

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Washington: Columbia County

– SBA loan funds approved: $1.3 million (About $331 per resident)
– Number of loans: 3

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West Virginia: Marshall County

– SBA loan funds approved: $5.3 million (About $172 per resident)
– Number of loans: 3

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Wisconsin: Vilas County

– SBA loan funds approved: $13.6 million (About $597 per resident)
– Number of loans: 8

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Wyoming: Sheridan County

– SBA loan funds approved: $13.9 million (About $451 per resident)
– Number of loans: 7

Story editing by Ashleigh Graf. Copy editing by Paris Close. Photo selection by Michael Flocker.

This story originally appeared on Flippa and was produced and
distributed in partnership with Stacker Studio.

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