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Reflecting On A Year After Purchasing A House I Didn’t Need

October 18, 2024 No Comments Personal finance , , , ,

October 2024 marks one year since I purchased the most expensive house I could afford. Leading up to the purchase, I wrestled with uncertainty about whether buying such a home was the right move. For most, a home is the largest purchase they will ever make, bringing with it a mix of excitement and worry.

Some people are so anxious about making the wrong financial choice that they end up renting forever. It’s similar to those who, paralyzed by fear of stock market risk, hold too much cash for years. Decades later, they look back and wish they had bought more. If only they had consulted with a trusted advisor.

The reality is that no individual or couple needs more than a studio apartment and no family of up to four needs more than a two-bedroom apartment or home. Yet, driven by our desire for more, we often buy much more than we need. And that is when we can get into huge financial trouble.

In this post, I aim to assess whether buying a house I didn’t truly need was a wise decision. I want to help you decide if buying a nicer house might be the right or wrong choice for you, too.

 

Why I Bought A New House I Didn’t Need

We bought our current home because I believe the best time to own the nicest house you can afford is when you have children. With more people living under one roof, the home’s value increases as more family members benefit from it. The home’s cost is also spread out among more people too. Once the kids leave, the likelihood of upgrading to an even nicer home diminishes. If anything, you may want to downsize.

Another reason for the purchase was my decision to focus more on decumulating wealth after age 45. After 23 years of saving and investing over 50% of my income, I wanted to start spending more intentionally. Buying a nicer home was a way to spend down wealth while still retaining the potential for appreciation.

Here are my candid reflections of the purchase, divided into financial and lifestyle aspects. If you’re contemplating buying a home you don’t need, these reflections might help you make an optimal decision.

Financial Repercussions Of Purchasing A House You Don’t Need

Let’s first review the financial repercussions of buying a home you don’t need.

1. Missing out on tremendous stock market gains

The problem with selling any of your investments to buy something is that there’s a high likelihood you’ll miss out on further gains. Stocks, real estate, and other alternative assets tend to keep increasing in value over time. It’s similar to inflation: if you don’t buy your pair of shoes today, they will likely cost more in the future.

In the second half of 2024, we decided to sell a significant amount of stocks and Treasury bonds to pay cash for our home. About sixty-five percent of the cash purchase came from stocks, while thirty-five percent came from Treasury bonds. Since closing in October 2023, the S&P 500 and tech stocks have performed incredibly well.

I started thinking about all the things I could buy now if I had just held on: a new car to replace my nine-year-old one, many family vacations to Honolulu, and both of my children’s college tuition for four years! Oh my, stop thinking! The opportunity cost was becoming painful.

But then I realized not all is lost because I plan to keep my car for at least another year, which gives me time to save for a new one. Our family vacations can be funded with cash flow. Finally, e’ve already saved aggressively in two 529 plans that should keep up with inflation.

Always consider the potential opportunity of buying a new house. Be prepared to miss out on future gains.

2. Potential appreciation of the house

I bought the house when mortgage rates were near their peak and during a slow buying season. Since then, mortgage rates have decreased, and household wealth has risen due to a strong economy and stock market gains.

Based on the bidding wars I saw in Spring 2024, I suspect the house has appreciated between 8% and 15%, helping offset the gains I missed in the stock market. About one-third of the home purchase came from shorter-duration Treasury bonds, which would have only yielded around 5% after one year.

The quandary of buying a home lies in hoping the economy fares well afterward. If the economy slows, other assets might fall more than your home’s value, as lower mortgage rates could help support home prices. In a growing economy, however, other investments may outpace your home’s appreciation.

Ultimately, if you have a job and other investments, you want the economy to perform well after purchasing a home, despite the potential for higher rates.

150 Santa Paula Avenue (St. Francis Wood) – 5 beds, 3 baths, 3,585 sqft, asking $4,795,000, sold for $5,705,000, or $910,000 over asking (19%). The seller received a preemptive offer only one week after listing, so there was actually no bidding war.
Example of housing strength: 150 Santa Paula Avenue – 5 beds, 3 baths, 3,585 sqft, asking $4.795 million, sold for $5.705 million

3. Retirement portfolios continue to perform well

Although I missed out on some gains in taxable investments, our retirement accounts—like the rollover IRA, SEP IRA, Solo 401(k), and Roth IRAs—have performed well. We didn’t tap into these accounts to buy the house, allowing them to continue compounding as intended.

The experience reinforces the importance of building a taxable investment portfolio alongside retirement accounts. It’s the taxable portfolio that enables you to buy homes or generate passive income for early retirement.

When it comes to investing, compartmentalize your investments based on specific goals. Avoid the temptation to borrow from your 401(k) to buy a house. Let your investments grow and compound for their intended purposes.

Returns by asset class - Comparing real estate and bonds

4. Finally used up my remaining capital losses

I’ve been investing in stocks since 1995, experiencing significant booms and busts along the way. Although stocks have delivered substantial gains over the years, I’ve also faced considerable losses.

In my teens and 20s, I was an undisciplined investor who day traded excessively and used margin to try to boost returns. My frequent trading was largely driven by witnessing so many fortunes lost—from the Dotcom bust in 2000 to the lost decade and the global financial crisis that began in 2007. These events made me wary of long-term investing.

It wasn’t until around age 32, in 2009 after the global financial crisis, that I slowly shifted my focus to long-term investing. By then, I felt defeated and lacked the energy to keep trying to outsmart the market. Instead of trading, I launched Financial Samurai in July 2009, channeling my energy into writing.

After enduring another tumultuous 20% market decline in 2022, I saw an opportunity in the second half of 2023 to reduce risk and finally purchase something I had wanted since early 2022. The house was first listed for sale at a much higher price in March 2023, then it disappeared for 14 months before resurfacing.

Keep a record of your stock investment losses. These losses are valuable “credits” for offsetting future capital gains when you sell stocks. If you don’t have any capital gains in a given year, you can use up to $3,000 of losses annually to reduce your taxable income.

5. The stress was intense for the first three months after purchase

I almost forgot to include this point, probably because we tend to have selective memories when it comes to recalling difficulties. For the first three months after buying our house, I was incredibly stressed. This stress led to unhappiness and more arguments with my wife.

I was constantly worried about what might break in the house and how much it would cost to fix. I also worried about potential leaks during the winter rainy season, since most home damage is caused by water.

My stress pushed me to take on a part-time consulting job starting in late November 2023 to boost cash flow and increase our savings. While working for the seed-stage startup was a good experience overall, there were frustrating moments as well.

If you push your house-buying limits to the max, you’ll likely experience significant stress during the first 3-6 months as well—especially if your spouse doesn’t have a traditional day job. When all the financial pressure falls on you, it can feel crushing.

To avoid feeling overwhelmed, you must follow all three parts of my 30/30/3 home-buying rule. I used to believe that following two out of three would suffice, but it isn’t enough if you’re pushing the limits to afford a house under this rule.

6. A nicer home is a meaningful way to decumulate wealth

If you’re a personal finance enthusiast, you’re likely an aggressive saver who loves to invest. However, at some point, you’ll realize that continuing to save and invest so aggressively can be counterproductive, leading you to die with too much. You’ll be jolted awake once you crunch the numbers in a retirement calculator.

At the same time, you’ll come to understand that buying expensive things doesn’t bring lasting happiness. Sure, purchasing a Porsche 911 Turbo might thrill you for 6 to 12 months, but after that, it’s just another fast car that you fear getting dinged. The same goes for buying a Birkin handbag or a Patek Philippe watch—acquiring material possessions rarely brings long-term satisfaction.

In contrast, buying a nice primary residence can provide tremendous satisfaction for many people while also forcing you to spend down your wealth. Not only do you need to come up with a down payment for the house, but you also have to pay for home insurance, maintenance, gardening, utilities, and property taxes. Each of these payments means money that isn’t going toward saving and investing for the future.

Example of Missing Out On A Promising Investment

Because I now have a large primary residence property tax bill, I’m forced to be more careful with my cash flow. I’ve had to accumulate significantly more cash in my taxable investment account, which would have otherwise been fully invested in stocks, private real estate, and venture capital. In a bull market, this means I’m missing out on potential gains.

Specifically, I wanted to invest $100,000 in Anthropic’s Q1 2024 funding round, which valued the company at around $10 billion. Based on OpenAI’s latest funding round, which valued the company at over $150 billion—up from just $85 billion eight months earlier—I expect Anthropic to raise its next round at a valuation of over $15 billion.

However, I didn’t invest because I didn’t feel comfortable having such a concentrated investment in one company after purchasing my house. As an alternative, I decided to invest in an open-ended venture fund that participated in its $10 billion valuation round, with an amount I felt more comfortable with.

I realized I had a timing arbitrage opportunity where I could invest in Anthropic months later at the same valuation, but before the fund’s NAV potentially revalues upward in the fund if Anthropic announces a new funding round.

7. You will get motivated to make and save more money

There are three main times in life when your motivation to earn will shoot through the roof. The first is after you graduate from high school or college and need to become an independent adult. Due to pride and honor, no longer will you rely The Bank Of Mom & Dad. The second is when you have kids—there is no greater motivation to earn. The third is when you buy a home, especially one that stretches your finances to the limit.

Before the house purchase, my previous jolt of motivation to earn came in December 2019 when our daughter was born. But just like everything over time, my motivation slowly faded. Once I got into escrow, my motivation to make more money surged back to its most intense level.

I sought consulting work, explored more business opportunities online, and took greater risks with my investments. My riskier investments might not pay off, but my desire to replenish our liquidity pushed me to earn, save, and invest more. This type of motivation felt almost like a wonder drug! It was exhilarating to feel so alive again.

When your back is against the financial wall, you’ll do whatever it takes to survive. As long as you buy your house responsibly, you’ll eventually rebuild your liquidity and regain a sense of financial stability.

Lifestyle Repercussions Of Purchasing a House You Don’t Need

Now that we’ve gone through the financial implications of buying a house you don’t need, let’s review the lifestyle benefits.

1. Feels good to provide during a small window

When I bought our house, our kids were three and six. One of my concerns as a father was the risk of them running out onto the street and getting hit by a car. At that age, kids are often bursting with energy and can be unpredictable. So when I found a cozy home with an enclosed front yard, my protective instincts went into overdrive.

I had never seen a house with so much usable outdoor space and a view for less than $25 million in San Francisco. My kids needed a safe space to run around outside. If you have a hyperactive child or one with ADHD, you’ll further appreciate the value of having a lot of enclosed outdoor space.

The window for kids to truly enjoy a home’s outdoor space is smaller than I thought. By the time they reach age eight, they may be involved in various activities—like soccer, swimming, gymnastics, or tennis—that keep them busy after school and on weekends. By the time they get home, they may be too exhausted to play outside.

Instead of assuming your home’s outdoor space will be a huge benefit from ages 0 to 18, think of it as a great advantage for ages 0 to 8. Anything beyond that is a bonus.

As a father, I’m not sure anything feels more rewarding that providing for your family.

2. Easy to reminisce about how easy things used to be.

The danger with real estate is that the desire for more never ends until you make it stop. There’s always a nicer house you can buy, and these days, people are regularly purchasing $100 to $200 million mansions in LA and Florida. Because of my love for real estate, I’ve climbed the property ladder at every opportunity. However, that’s not always ideal for your family or your finances.

Our previous home, although much smaller, would have been perfectly adequate for a family of four. It had decks on three levels facing the ocean and two office areas for my wife and me. If our kids had never seen our current house, they wouldn’t know what they were missing.

Now I have to spend time managing our old property, which is now a rental. The tenants have already broken the kitchen faucet, and the walls are all dinged up after I spent a month meticulously painting them. They also neglect the front yard.

If you buy a nicer home you don’t need, be prepared to deal with the hassle of owning or selling your old home. As long as there is love in the household, young kids don’t really care where they live.

Be honest with yourself about whether you’re buying a house for your family or for yourself. You might justify the purchase by saying it’s the best way to provide for your family, but the reality might be that it’s more about fulfilling your own ego.

3. Once you buy a nice house, your vacations won’t feel as nice

You’ll quickly get used to living in a nicer house—probably within a year. You might even wonder how you ever managed in a smaller place. This is the risk of hedonic adaptation.

The downside is that once you get accustomed to more space and comfort, your vacation accommodations may no longer feel adequate unless you upgrade them. For example, if you’re used to living in an 1,800-square-foot, three-bedroom, two-bathroom home with a family of four, staying in a 360-square-foot hotel room with a pull-out couch on vacation will feel cramped. To maintain a similar level of comfort, you may need to pay double for a one-bedroom or two-bedroom suite.

Our two bedroom, two bathroom vacation condo in Lake Tahoe used to feel huge. But with every subsequent primary home upgrade, it feels more and more cramped. As a result, my desire for going up to Lake Tahoe has partially declined. No Toto bidets are a bummer too!

In short, upgrading your home can create pressure to spend more on family vacations to maintain the lifestyle you’ve grown accustomed to

4. You’ll gain satisfaction from not wasting time

Ever since becoming a parent, the speed of time has accelerated as little ones transform so quickly during their first 16 years of life. Seeing my kids every day serves as a reminder not to waste time doing things I don’t enjoy. They also make me question why people strive to retire rich when they could just retire early.

All parents want the best for their kids, which creates a push and pull between spending time making money and spending time raising them. One reason we often prioritize making money over spending time with our kids is to afford a nicer home to shelter them, among other things.

I could have easily waited until 2030, or 10 years after owning our previous home, to buy a forever home. That was my intention when we purchased our last house in mid-2020. However, after living through the pandemic with a newborn, I experienced a “screw it, let’s YOLO” mentality switch in my mind.

If you wait too long, you might never make the move. Don’t waste time. Once your kids turn 12, they’ll start valuing time with friends over you. Buying a house you don’t need when they’re older may feel less rewarding, leaving you with a nice home but no one to share it with.

Poorer Financially, But Richer In Satisfaction

Ultimately, deciding whether to buy a house you don’t need comes down to your priorities. When I review my decision, I see that the financial considerations outweigh the lifestyle factors by a ratio of 1.75:1. However, I believe the lifestyle benefits hold more weight.

If you prioritize money above all else, keep saving and investing aggressively. But if you value experiences and quality of life, stretching for a nicer home could be worthwhile.

While I am financially poorer for not keeping all my investments in the stock market, I’m richer in terms of satisfaction. I took the chance to provide the best lifestyle for my family, and so far, the pros outweigh the cons.

Readers, have you ever purchased a house you didn’t need? If so, what reflections and realizations have you had since then? Are there any other considerations I should include in this post?

Invest in Real Estate Without the Hassle

Real estate is my favorite asset class for building wealth. If you want to invest in real estate without dealing with tenants, maintenance issues, or insurance agents, check out Fundrise.

Founded in 2012, Fundrise manages over $3.3 billion for nearly 400,000 investors. The firm focuses on single-family and multi-family properties in the Sunbelt, where property valuations are lower and cap rates are higher. With the Federal Reserve likely to enter a multi-year rate cut cycle, the potential for lower mortgage rates could boost demand.

I’ve been investing in private real estate since 2016 to diversify my portfolio and generate more passive income. Fundrise has been a long-time sponsor of Financial Samurai, and I’ve personally invested over $270,000 in Fundrise to date.

To expedite your journey to financial freedom, join over 60,000 others and subscribe to the free Financial Samurai newsletter. Financial Samurai is among the largest independently-owned personal finance websites, established in 2009. Purchasing A House You Don’t Need is a Financial Samurai original post. All rights reserved.

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What is Marketing, and What’s Its Purpose?

October 18, 2024 No Comments Digital Marketing , ,

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If you’d asked me early in my career to define what marketing is, I would have no doubts. “Marketing is about promoting products,” I’d say. But today, it’s one of the toughest questions to answer.
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12 Online Customer Service Jobs To Make Money

October 18, 2024 No Comments Personal finance , , , ,

Looking for the best online customer service jobs? If you’re searching for a way to make money from your laptop or are tired of commuting, then an online customer service role might be the perfect fit for you. Online customer service jobs are typically entry-level opportunities that can be done from home. These jobs are…

Looking for the best online customer service jobs?

If you’re searching for a way to make money from your laptop or are tired of commuting, then an online customer service role might be the perfect fit for you.

Online customer service jobs are typically entry-level opportunities that can be done from home.

These jobs are great for anyone, even with no experience. I’ve personally seen how these roles can provide a good income, all while giving you the freedom to create your own schedule.

In this article, I’ll guide you through the best online customer service jobs available, what they pay, and how to get started—even if you’re completely new to the field.

12 Online Customer Service Jobs

Below is a list of the best online customer service jobs to make money.

The below are mainly large companies that are hiring, but another option would be to become a virtual assistant and work for a small company. Many smaller companies use virtual assistants to get the tasks done that they need, such as customer service. You can learn more about this at Best Ways To Find Virtual Assistant Jobs.

1. Amazon

Amazon is always hiring remote customer service associates to support its massive customer base.

To find jobs on Amazon as an online customer support specialist, visit Amazon’s career website here. In the search bar, type “customer service” and select remote or virtual as your location. This makes sure that the jobs that come up are 100% remote.

From there, you can also choose filters like part-time or full-time. You select the country you’re eligible to work in, as Amazon has job postings all around the world. You’ll want to look for jobs with titles like “Customer Service Associate,” “Customer Support Specialist,” or “Virtual Customer Care Representative”.

Amazon also has seasonal positions, so if you’re looking for a temporary role to bring in extra money during the holidays, this is a great option.

There are many benefits to working for Amazon, including stock options, career development course funding, employee discounts, and more.

Recommended reading: How To Find A Remote Job

2. Apple

Apple also has job listings for remote customer support jobs.

To find customer support jobs at Apple, go to their official careers page here. You can also choose filters like “home office,” so you only see remote job listings. Besides the Apple careers page, you can also find jobs at Apple on sites like Indeed and LinkedIn. Search for keywords like “Apple Customer Service” or “Apple At-Home Advisor”.

You can also set up job alerts for Apple’s customer support jobs so you get email alerts any time a job related to customer service is posted.

There are many benefits to working for Apple, including generous time off, discounts on Apple products, stock options, and education reimbursement for courses.

3. American Express

American Express also has remote customer support jobs. To find these jobs, visit the American Express career page. This is where you can search for jobs by keyword and location.

You can type in keywords like “Customer Service” or “Customer Support” and use the location filter to choose “virtual” or “remote” jobs.

American Express has remote customer service jobs, usually called “Virtual Customer Care Professionals.” You can look for these jobs on sites like Indeed and LinkedIn as well. American Express is frequently hiring customer support specialists, so keep checking for job listings or set up email alerts.

There are many benefits to working for American Express, including health insurance, travel discounts, stock, and more.

Remote Customer Service jobsRemote Customer Service jobs

4. Progressive

Progressive Insurance has Customer Support job openings on their website here.

To find Progressive customer support roles that are remote, use the keyword “remote” when searching for jobs. As of this writing, I found job openings for remote Claims Adjusters paying $24/hour. I think it’s important to regularly check for job updates on Progressive’s website as they are constantly adding new jobs.

You can also search for Progressive customer support roles on Indeed and LinkedIn. Indeed even lets you set up email alerts whenever new Progressive customer support roles show up.

There are many benefits to working for Progressive, including good starting pay, eligibility for bonuses, extra pay for working evenings or weekends, PTO, and more.

5. Yelp

Yelp has common customer support roles such as Customer Support Specialists and Content Moderation specialists.

To look at job openings for Yelp, check out their career page here. This is where you’ll find all of Yelp’s job openings, including tasks, qualifications, and benefits.

You can also engage with Yelp employees on LinkedIn to see what the job is like and get any insights on the hiring process.

There are many benefits to working for Yelp, including insurance, PTO, mental health services, monthly wellness subsidies, work-from-home reimbursement, and more.

6. AAA

I had a harder time finding remote roles for AAA, but I did find people saying they hire for remote customer support roles, they just can be harder to come by.

In-person customer support roles for AAA seem to be more common, but to find online jobs for AAA, check out their career page here.

There are many benefits to working for AAA, including tuition reimbursement, comprehensive health insurance, and wellness programs.

7. CVS Health

CVS Health has many remote customer support roles, with pay starting at $18 an hour and going up to $28 an hour, depending on experience.

To find CVS Health customer support roles, go to their careers page and filter the search for remote customer support jobs.

There are many benefits to working for CVS Health, including 401(k) with matching, employee discounts, wellness programs, and stock options.

8. Sutherland

You may not have heard of Sutherland before. Sutherland is a digital transformation company specializing in making digital processes feel more human to customers.

Sutherland often has remote customer support roles open. To find Sutherland customer support roles, go to their careers page and search for remote.

There are many benefits to working for Sutherland, including advancement opportunities, competitive pay, comprehensive health benefits, and more.

9. Chewy

If you love animals, you may love working for Chewy as a customer support specialist.

To find jobs at Chewy, go to their customer service careers page here. This is where you’ll find all of the job openings, qualifications needed, benefits, and more. I found it interesting that they have a page specifically for customer service careers, which suggests they are actively hiring in this area!

The starting wage for these jobs is $15.50 an hour, with room to grow.

There are many benefits to working for Chewy, including comprehensive insurance, competitive pay, 401(k), and more.

Remote customer service jobs hiring immediatelyRemote customer service jobs hiring immediately

10. Concentrix

Concentrix is a global business company specializing in CEM, also known as customer experience management. They help businesses improve their operations and enhance customer interactions.

Concentrix has many open job listings for customer support roles, which you can find here.

There are many benefits to working for Concentrix, including paid training, bonus opportunities, insurance, wellness programs, and more. They even have mentorship programs to help you grow in your career and other unique benefits.

11. Alorica

Alorica is a global customer experience and business process outsourcing company. They help businesses improve their customer interactions, similar to Concentrix, which I mentioned above.

To find Alorica customer support job listings, visit their careers page here. Their customer support roles usually start at $16 an hour.

There are many benefits to working for Alorica, including employee discount programs, paid training and tuition reimbursement, and more.

12. TTEC

TTEC is similar to Alorica and Concentrix and is often hiring customer support specialists.

To find jobs at TTEC, go to their careers page here and search for customer service representative jobs.

There are many benefits to working for TTEC, including working remotely full-time, PTO, wellness and healthcare benefits, and more.

Frequently Asked Questions

Below are the most common questions about online customer service jobs.

How much do work-from-home customer service jobs pay?

Work-from-home customer service jobs typically have a starting wage of around $15 an hour, with more experienced customer support specialists earning over $25 an hour.

What are the highest-paying jobs in customer service? 

The highest-paying jobs in customer service include jobs at Progressive and CVS Health. Technical support is related to customer support and typically pays a little bit more than customer service specialist jobs.

Can customer service be online? 

Customer service jobs are almost always online since you can do this work from your laptop via chat, email, or video conferencing. So, this can be a great work-from-home job choice!

What does an online customer service representative do?

An online customer service representative is in charge of many tasks and may include:

  • Supporting customers through live chat, email, and social media
  • Addressing customer inquiries, resolving issues
  • Handling customer complaints
  • Handling processing, managing returns or exchanges

You can find job listings for customer service agents in nearly all industries around the globe, such as retail, travel, finance, and more.

Are there Amazon customer service jobs?

Amazon has many customer service jobs that are both in-house and remote. These roles typically involve helping customers with returns and inquiries, troubleshooting issues, and providing support related to Amazon’s products and services.

How can I find online customer service jobs from home with no experience?

To find online customer service jobs, visit job boards like Indeed or FlexJobs. Look for jobs with keywords like “customer service” and “customer support.” Make sure to choose your location as “remote,” so you only see remote job openings.

Best Online Customer Service Jobs – Summary

I hope you enjoyed my article on the best places to find online customer service jobs.

Finding an online customer service job is relatively easy to do, even with no experience. This is a great way to work from home without having to go on a long commute to work.

Are you interested in starting an online customer service job?

Recommended reading:

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How to Create a Social Media Content Calendar in 2024

October 18, 2024 No Comments Social media marketing , , , , , ,

As marketers, we have all faced the the chaos of unorganized workflow and unplanned posting, which often jeopardized our brand’s image. A well-designed social media content calendar is the key to evolve from this disarray.

An organized and well-planned content calendar streamlines your ability to strategically chalk out a posting plan in advance. However, creating it is another tedious task.

In this blog, you will learn how to create a content calendar in six easy steps. We will also share a free social media calendar template to start you on the right foot with a consistent and well-planned schedule.

That’s not it.

We will also discover the best tools for organizing your weeks and months of content and some common social media calendar mistakes to look out for while planning.

So let’s begin!

How to Create a Social Media Content Calendar?

Making social media calendars can be intimidating, but once you get a hold of it, your marketing strategy will become more powerful and intend-oriented.

So, let’s begin breaking down each step to create your personalized calendar:

1. Audit Your Current Social Media Posts

Everything starts with a detailed social media audit. This will determine whether your existing content and identity resonate with the target audience and help you determine gaps and opportunities to include in your calendar.

Look at the metrics, such as reach, likes, shares, comments, saves, etc, of each type of content (e.g., images, blogs, videos, reels, stories).

To analyze your current social media presence, you can follow the below procedure:

  • Compile All Your Social Profiles: Gather all the social profiles in one place to conduct the audit and comparison. Make sure they are all active and optimized.
  • Identify Weaknesses: Keep an eye out for the profile or content that does not fit your identity or has performed badly, and find out why it has not engaged enough.
  • Establish Your Social Media Goals: Define your future goals. Having a clear social media goal based on your desired campaign’s expectations is necessary to streamline the process.
Social Media Marketing GoalsSocial Media Marketing Goals
  • Identify Your KPIs: With a clear goal, you can pinpoint the KPIs, such as engagement, CTR, conversions, brand awareness, etc.
  • Identify Your Top-Performing Social Content: Based on the set KPIs, you can identify the content that has helped you reach your social media goals. Such type of content will re-appear in your new calendar.
  • Determine Your Social Media ROI: After analyzing the content, multiple social media accounts, and goals, the final tone is set by the ROI. Calculate your current ROI and set the future expectations and based on that plan your calendar.

You can follow the above process or use our free social media audit template, to streamline the analysis of your current social media channels.

2. Choose Social Media Channels and Set Content Theme

Every social media platform has a different tone and vibe. Not every platform is a perfect fit for your type of content. For instance, Instagram and Snapchat are great for visually-driven content, while LinkedIn suits more textual, professional content.

You need to choose the platform where you are most likely to find your target audience. Consider your audit and pick the platform most effective for your brand.

After that, set a clear theme for your content based on your brand goals and audience interests. For example, if you are a fitness brand, your theme can revolve around fitness routines, nutrition tips, customer spotlights, etc.

Once your platform and theme are finalized, you can find engaging social media post ideas and fill your social media content calendar.

However, you also need to ensure a content mix, which is distributing different content types (informative, promotional, UGC, etc) on your calendar. For this, you can follow different strategies:

The 80-20 Rule

  • 80% of your content should be informative, educational, and entertaining.
  • 20% of your content should be to promote your product and brand.

Like SocialPilot’s Instagram account, which has a perfect mix of informative social media updates, entertaining memes, and promotional content.

SocialPilot Instagram follows 80-20 ruleSocialPilot Instagram follows 80-20 rule

The Social Media Rule of Thirds

  • ⅓ of content from followers
  • ⅓ of content to promote your product
  • ⅓ of content should be interaction with followers

While following any rule rememeber that even when you are not directly promoting your product, ensure to stick to your niche and resonate with your social media style guidelines.

3. Choose the Right Tools and Templates

Now that you have all the necessary items, you can start mapping them onto your social media editorial calendar. But before that, you need to decide whether you want to create a social media calendar from scratch, use a tool with an auto-fill calendar feature, or utilize a ready-to-use template.

The resource selection for your social media calendar should be based on your specific needs. If you’re looking for a basic calendar to jot down a few details, building it from scratch might suffice. Alternatively, opting for a free, customizable calendar template could be the ideal solution.

What does a Social Media Content Calendar Include?

For any of the above, you need to have certain elements defined in your calendar to effectively start planning your content.

  • Date, and time
  • Network and account for the post
  • Holidays
  • Post type
  • Goal of the post
  • Campaign
  • Post content copy
  • Post caption
  • Hashtags
  • Geo-tags
  • Visual assets with links
  • Post Status
  • Tracking links (if any)
  • KPIs to be monitored

Decide on these factors and use them to make a content calendar.

Below is an example of a weekly calendar social media calendar, illustrating how these factors can be organized.

Example of a weekly calendarExample of a weekly calendar

However, if you want advanced features like scheduling capabilities, multi-platform posting, and analytics tracking, you should consider utilizing dedicated social media calendar tool like SocialPilot.

4. Plan, Create, and Schedule Posts

With your theme, platforms, content types, and tools in place, it’s time to start planning your actual content.

When populating your social media content calendar, evenly distribute different formats (text, images, videos) throughout your schedule and leave room for timely posts related to events, holidays, current affairs, news updates, and other relevant happenings. Use the Notes feature to jot down content ideas, special event reminders, or campaign details directly within the calendar. This ensures you don’t miss important updates and keeps your planning streamlined.

Plan your content calendar around your campaign , incorporating a variety of content to keep your target audience consistently engaged. Develop posts that match the platform, your theme, and your goals. Below is a peek into how you can segment your content format and for which platform it is planned.

Social Media post and content typesSocial Media post and content types

The whole purpose of a content calendar is to keep your social media strategy organized, so prepare batches of content in advance and schedule it for the best time to post to get the highest engagement.

5. Collaborate with Teammates and Clients

If you are creating a social media schedule and working on it alone, you are doing it wrong. Social media is not a one-person job; it requires teamwork.

For the actual content, captions, and post copy, you can collaborate with your teammates and assign tasks to generate fresh ideas, schedule social media posts, etc.

When you have a calendar for your social media plan, your content is pre-made and can be sent to teammates, clients, and stakeholders for approval and collaboration. This way, you can ensure that every piece of content is of the highest quality, free from errors, approved, and perfectly aligned with your brand’s tone.

6. Track and Analyze Your Social Media Content Calendar

Your work doesn’t end at just planning a content calendar for social media. The next step is to keep track of your content performance and analyze the results.

Consistently monitor the KPIs to analyze which of your posts are doing well and which ones are not reaching the mark. Doing this will help you optimize your existing calendar and better plan future calendars. At this stage, using analytics and reporting features tools help you effectively track your performance based on the goals you set.

Free Social Media Calendar Templates

We have created a free customizable template to help you create a useful social media content calendar. This well-crafted template will keep you organized and consistent in reaching your goals.

This is a monthly view of the social media editorial calendar. As you change the month, the view also shifts according to the dates and days. The monthly layout allows you to plan the publishing of different content themes across various dates.

Example of the monthly calendarExample of the monthly calendar

In the next tab, you can further break down your calendar by channel, where you can include the following details for each social platform:

  • Day
  • Date
  • Time
  • Post Content Type
  • Post Format Post
  • Description
  • Post Creative
  • URL
  • Campaign Name
  • UTM
  • Goal

This is designed to last long and do the heavy lifting for your social media schedule. You just have to download the template from the below link, change the month and year as prefered, and start planning.

Here’s a free social media calendar template for you to get started:

social media calendar templatesocial media calendar template

If you want a more robust solution than a spreadsheet that goes beyond planning, move your focus to using calendar tools.

How to Create A Social Media Content Calendar Using a Tool?

We have explored all the ways you can create a content calendar and customize it according to your own needs. However, if you are new to this and finding the whole process too complex, there’s a shortcut for that.

You can use a social media content calendar tool which will have a readymade calendar dashboard. All you have to do is add your content and your schedule will be set to go.

Tools like SocialPilot are excellent social media management tools with a dedicated Content Calendar section. It provides a collaborative space for your whole team to create and schedule content without much hassle.

It helps you create and track campaigns across multiple social media platforms and filter the view as per your requirements. The drag-and-drop functionality lets you create and schedule social media posts within a few clicks. SocialPilot’s calendar comes equipped with a list of regional holidays which can help you plan ahead for those occasions and connect with your audience.

Here’s a detailed walkthrough of SocialPilot’s social media content calendar in action.

Hence, you can easily create a social media content calendar by opting from the best content calendar tools like SocialPilot and automating the whole process.

Why Do You Need a Social Media Content Calendar?

Having a social media planner calendar is more than just ensuring posting at the right time; it is about effective management that leads to spending more time on impactful content creation.

Creating a calendar is like self-care. You no longer have to feel the terror of coming up with the content idea right before it’s time to get down to work and write your next post, as the deadline is looming on the horizon.

Some of the primary benefits of maintaining a social media planning calendar include:

To Stay Organized and on Track

Scribbling your content topics on crumpled pieces of paper, post-it notes, and in random notebooks isn’t a particularly reliable method. Also, it’s likely to drive you away from what’s really important amid so many ideas and things to think about.

When you have a social media content calendar, you can lay out your topic ideas and assign them to different categories and campaigns. This structured approach ensures that your content remains focused and aligned with your broader objectives. Besides, it will help you mend content gaps and prevent you from missing your content’s deadline.

To Help You Stay Consistent

The 3 Cs of content marketing might as well be consistency, consistency, and consistency. The key to always being on your audience’s radar is offering them educational, relevant, and entertaining content day after day.

Irregular posting leads to an out-of-sight-out-of-mind kind of scenario, no matter how much your audience likes your efforts. You can use a social media calendar tool to keep things in check.

To Keep Your Audience Engaged

Sometimes, you can indeed wing it, but that’s not a method that will work in the long run. When you’re hurrying to publish something, you might fail to check if it’s a repetitive topic covered beforehand.

Similarly, randomly picked topics that don’t resonate with your target audience can hurt your engagement. However, an organized social media content calendar will allow you to spot such potential missteps so you only publish fresh and relevant content.

To Keep Track of Your Performance

Tracking your metrics is the only way to measure the effectiveness and success of your content and overall marketing efforts.

When your calendar already has all the published posts, adding the key metrics associated with each post there just makes complete sense. It gives overview of your top-performing content that resonated best with your audience. By monitoring these numbers, you can tweak and fine-tune your content and give your audience what they need and want.

To Ensures Better Team Collaboration

A social media calendar is not just for one person; it’s for the team, too. You can collaborate with your team members, assign them tasks based on priority, and make the workflow systematic.

Everyone can access your content plan and participate in the planning and execution with a centralized view. This is also useful in minimizing back-and-forth communications for approval from clients or stakeholders about content.

5 Top Social Media Calendar Mistakes to Avoid

As you start planning your social media calendar, there are several things you need to take care of to avoid potential mistakes that can hinder your success. Let’s discuss some common pitfalls and solutions to avoid them:

1. Not Tailoring Content for Each Social Media Platform

Every social media platform caters to a unique audience and content type. For example, LinkedIn is known for its professional content, and TikTok is all about short entertaining videos.

Now imagine what will happen if you share professional achievements on TikTok and a short entertaining video on LinkedIn. Your engagement will fall flat for sharing irrelevant content because the audience on these platforms is not looking for that type of content.

Not following the versatility of every social channel can result in low visibility and reach. Sharing the same content type on each platform will not help you reach the goals, even if you are consistent. That’s why planning your calendar considering the different voices and vibes of each platform is necessary.

2. Not Repurposing Evergreen Content

Evergreen content stays relevant and valuable for years, and repurposing such content can attract engagement.

First, you must identify the evergreen content that has generated outstanding engagement and reach for you in the past. These types of content aren’t necessarily promotional; you can even repurpose educational or entertaining content like memes.

After identification, you have to decide if it needs repurposing or if it can be shared as it is at a later date. Repurposing popular content into a new format can extend its lifecycle and prevent it from gathering dust over time.

3. Not Segregating Monthly and Weekly Calendars

Whether you make a social media content calendar from scratch, use a template, or utilize a calendar tool, you need to figure out a way to segregate your monthly and weekly content plan. Blending both schedules can create confusion and overlap.

The monthly content calendar is primarily for planning the overarching themes, campaigns, and major events. However, the weekly content plan breaks down each post with a date and time for posting. Combining these two can prevent you from distinguishing between the monthly theme and weekly detailed scheduling.

Using tools that let you visualize monthly and weekly content separately is necessary. SociaPilot has an intuitive content calendar that provides a single UI view of both types of calendar schedules for better understanding.

4. Not Having a Consistent Posting Frequency 

While a social planner calendar has several benefits, posting consistency is the most important one. Often, Marketers make the mistake of not being consistent in their posting. If they have a regular frequency of one platform, it lacks on the other.

Not having consistent content distribution throughout the calendar might slow you down in reaching your goals. Sharing good quality content regularly is crucial, as your audience relies on it for brand updates, or else they might lose interest.

While you create your content calendar, keep the content moving to keep your audience engaged. Establishing and maintaining a consistent posting frequency is how you can make the best use of your content calendar.

5. Not Re-evaluating and Optimizing 

Having a social media calendar and sharing content consistently is not enough. You must regularly revisit your content’s performance and evaluate how it’s changing to evolve your social media strategy.

To effectively monitor your performance across multiple platforms, you need a social media management tool that offers multi-platform analytics and shares insights on the regular changes in your reach and engagement.

This is where SocialPilot comes in. With its analytics and reporting feature, you can regularly re-evaluate and optimize your strategy and adapt based on real-time data. This is how you can refine your business growth according to your audience feedback and market trends to ensure your strategy remains relevant.

By avoiding these mistakes, you’ll save time and enhance your brand presence on social media. To never face low reach, this is how you can make your social media efforts a powerful component of your marketing strategy.

Reflecting Back

Having a content calendar isn’t just about organizing your content in one place; it’s about creating a social media plan that drives you to leave a lasting impact on your brand’s social media presence.

Your calendar will ensure that you maintain a consistent posting schedule, align your content with broader marketing goals, and engage your audience effectively across different platforms.

Scrambling for content ideas at the last minute is old news; creating a social media content calendar and scheduling content in advance is the key to precision.

Start with spreadsheet calendars, but don’t stop there. Go above and beyond with SocialPilot, which not only enables you to plan your posting schedules across multiple channels but also gives you the option to schedule them for publishing.

Try SocialPilot for FREE!

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China’s economy likely to have slowed in Q3, Beijing’s 2024 target at risk

October 18, 2024 No Comments Beauty , , , , ,

By

Reuters

Published



October 18, 2024

China’s economy is expected to have slowed in the third quarter, dragged by a prolonged property downturn and weak consumption, maintaining pressure on policymakers as they consider more stimulus steps to revitalise growth.

Data released on Friday is forecast to show the world’s second-largest economy grew 4.5% year-on-year in July-September, slowing from 4.7% in the second quarter and hitting the weakest pace since the first quarter of 2023, according to a Reuters poll.

Reuters

Beijing will report the latest figures at a time when authorities have started to sharply increase stimulus measures in an effort to ensure the economy meets the government’s 2024 growth target of around 5%.
The Reuters poll showed China’s economy is likely to expand 4.8% in 2024, undershooting Beijing’s target, and growth could cool further to 4.5% in 2025.

China’s economy has stuttered through uneven growth this year, with industrial production outstripping domestic consumption, fanning deflationary risks amid the property downturn and mounting local government debt.

Policymakers, who have traditionally leaned on infrastructure and manufacturing investment to drive growth, have pledged to shift focus towards stimulating consumption, but markets are awaiting further details of a planned fiscal stimulus package.

On a quarterly basis, the economy is forecast to have expanded 1.0% in the third quarter, compared with 0.7% growth in April-June, the poll showed.

GDP data is due on Friday at 0200 GMT. Separate data on September activity is expected to paint a mixed picture, with retail sales picking up while investment slowing.

Recent data raised the risk of China sliding into an entrenched phase of deflationary pressures as prospects for exports, the economy’s lone bright spot this year, look to be dimming amid foreign trade curbs.

China’s export growth slowed sharply in September while imports also decelerated, undershooting forecasts by big margins and suggesting manufacturers are slashing prices to move inventory ahead of tariffs from several trade partners.

China’s consumer inflation unexpectedly eased in September, while producer price deflation deepened, heightening pressures on Beijing to take steps to spur demand as exports lose steam.

Last week, China’s finance minister pledged to “significantly increase” debt to revive growth, but left investors guessing on the overall size of the stimulus package.

China may raise an additional 6 trillion yuan ($842.60 billion) from special treasury bonds over three years to help bolster the sagging economy through expanded fiscal stimulus, Caixin Global reported, citing multiple sources with knowledge of the matter.

Reuters reported last month that China plans to issue special sovereign bonds worth about 2 trillion yuan this year as part of fresh fiscal stimulus.

The central bank in late September announced the most aggressive monetary support measures since the COVID-19 pandemic, including interest rate cuts, a 1 trillion yuan liquidity injection and other steps to support the property and stock markets.

Analysts polled by Reuters expect a 20-basis points cut in China’s one-year loan prime rate, the benchmark lending rate, as well as a 25-basis points cut in banks’ reserve requirement ratio in the fourth quarter.

© Thomson Reuters 2024 All rights reserved.

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The suit makes office comeback as loose, more relaxed fits reign

October 18, 2024 No Comments Beauty , , , , , ,

By

Bloomberg

Published



October 18, 2024

The classic men’s suit refuses to die. Despite disruptive sartorial movements like the rise of streetwear and the increasing casualization of C-suite uniforms—not to mention a global pandemic that put everyone in athleisure—the final nail in its coffin has yet to be hammered.

See catwalk
Giorgio Armani – Spring-Summer2025 – Menswear – Italie – Milan – ©Launchmetrics/spotlight

In fact, some insiders believe that the aftermath of Covid-19 was partially responsible for hastening the suit’s most recent reinvention. “I think everyone got tired of wearing sweatpants and are now excited to dress up again,” says menswear writer Jeremy Freed. “And as dress codes have relaxed, dressing for the office doesn’t mean what it did a generation ago.”

In other words, now that suits are no longer an office requirement, they’re seen as something novel, even fun, to wear.

Designers are reworking them accordingly. Whether it was the louche excess of Saint Laurent’s swaggering suits or the roomy ease of the Row’s monastic tailoring or even Zegna’s nubby, boxy workwear-hybrid versions, the fall 2024 collections saw marquee labels take a languid approach to the classic two-piece.

This new wave of looser, relaxed suiting isn’t the full baggy pleats of ’90s-era Giorgio Armani, but it does point toward a look that offers more ease and rakish appeal: a bit of Italian sprezzatura, some West Coast informality, and, yes, some ’80s Wall Street swagger. We’re calling it Armani Light.

A bevy of smaller, buzzy labels have led the charge. British label Drake’s has cornered the “cool professor” vibe with its emphasis on classic European styles like Fair Isle sweaters or Prince of Wales sports coats. The Greenwich Village custom tailoring shop J. Mueser crafts classics with a twist, while Stoffa, also in New York, specializes in a soulful, suit-meets-pajamas insouciance.

“Over the past few years, we’ve noticed the majority of people choosing a more relaxed silhouette for their suits,” says Jake Mueser, proprietor of J. Mueser. “Everywhere from the runway to the office, people are choosing varying degrees of drape-ier fits. I’ve certainly been cutting our trousers and jackets in a more relaxed way. Old Armani and Ralph Lauren Polo shoots have romantically swept the hearts of the industry.”

Freed, meanwhile, noticed the change coming from tailoring operations like the Armoury in New York and the Anthology in Hong Kong, which are adding more informal cuts to their roster. “In one sense it’s looking back to the 1980s and Armani’s drapey, relaxed silhouette,” he says. “But it’s also about comfort and spending years wearing athleisure and elastic waists. People don’t want to be put into straitjackets.”

This all coincides with the natural trend cycle that, after years of slim suiting pushed by the likes of Thom Browne and Hedi Slimane, has circled back to a shape that’s more generously cut. According to data from Google Trends, searches for double-breasted suits are up 11% year over year; those for pleated pants are up 20%. Vogue just put Billie Eilish on its October cover in an oversize pale yellow suit from Gucci.

“Just as the slim silhouette came in as a reaction to the bagginess of the ’90s, we have this looser silhouette now,” says Derek Guy, a popular social commentator who goes by the handle @DieWorkwear. “People originally bought the slim silhouette because it signaled that you were kind of in the know, and it doesn’t signal that anymore.”

Consider it a reaction to the current working-stiff archetype, exemplified in hit shows like Industry, where young folks in London’s finance world wear clothes that are staid and drab—plain sweaters and slacks in hues of black, navy and gray. It’s efficient and coherent, but without an ounce of romance or style.

Armani, of course, showed that this wasn’t always so. His suits, especially in the 1980s and early ’90s, were broad-shouldered, many-pleated, and rendered in striking shades of greige. His clothes had a dynamism and braggadocio that today’s company-branded half-zip sweaters and fleece vests could never replicate. No wonder designers today are looking back to take a page from this timeless look.

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What Is The Role Of Parents In Cybersecurity?

October 18, 2024 No Comments Education , ,

How Can Parents Ensure Their Children Are Safe Online?

The internet can be an amazing addition to children’s lives. It can boost their creativity, help them learn, and be a great source of entertainment. However, parents are growing increasingly concerned about the many dangers of the online world, from inappropriate content to cyberbullying and online scams. The role of parents in cybersecurity is crucial in achieving online safety, which is why they must take action. In this article, we will explore 6 steps parents must follow to develop a safe online experience for their children and ensure they don’t fall victim to its threats.

6 Cybersecurity Tips Parents Can Implement For Online Safety

1. Foster Cybersecurity Awareness

Teenagers and children are often careless about their online behavior because they know very little about the dangers it hides. For this reason, parents must take on the responsibility of instilling a sense of cyber awareness in their children. This includes discussing potential risks and telltale signs that will help them recognize them, as well as general concepts of privacy, responsible online behavior, what a reliable website is supposed to look like, etc. This way, young online users will be better equipped to make informed decisions while browsing the internet unsupervised, thus leading to a safer and more enjoyable experience.

2. Set Ground Rules

Young online users can’t use the internet on their own terms. To enhance cybersecurity, parents must set firm boundaries to prevent excessive use and effectively monitor the type of content their kids are accessing. A key rule is limiting screen time. Set realistic and age-appropriate time frames for internet browsing, ranging from a few minutes for younger kids to a few hours for teenagers. Keeping the computer in a shared area will facilitate enforcing this rule. Additionally, you must discuss which websites children are allowed to access. For example, YouTube has a built-in safety feature that restricts underage users from viewing content made for adults. Moreover, make sure to encourage tech-free time. Set a time during the day, perhaps during lunch and dinner, when devices are not allowed, thus creating space for face-to-face interaction with family members.

3. Use Parental Control Software

Regardless of the advice you give your kids, they might have a “rules are meant to be broken” mentality or accidentally stumble upon inappropriate content. For this reason, you must consider parental control software as an additional security measure. These tools monitor the online activities of young users, block unsuitable content, and prevent access to suspicious or dangerous websites. They can be installed on all devices, from tablets and gaming consoles to computers and smartphones, helping you protect your children’s online safety. Make sure to reinforce your home network’s defenses by combining parental control software with an effective antivirus program that will keep you safe from malware.

4. Maintain Open Communication

Having an open and understanding relationship with children can save parents from many cybersecurity-related troubles. By establishing trust, you can encourage your child to share details about their online activity without fear, including anything that looks suspicious or makes them feel uncomfortable. As a result, they will be much more likely to ask for help when something happens instead of carelessly taking actions that may have long-term consequences. To achieve that, you must try to involve yourself in your child’s browsing. Show interest in their favorite games and websites, explore pages that are secure and educational together, and discuss how you can use the internet in a productive way instead of browsing aimlessly.

5. Don’t Scare Children, Empower Them

You might think that scaring kids away from the internet is the best way to keep them safe. However, remaining offline is becoming increasingly difficult, as the internet has made its way into most aspects of their lives, including education. Therefore, instead of focusing on negative emotions, make sure to provide them with all the knowledge they need to navigate it safely and make the most of its countless capabilities. As long as kids know how to recognize scams, identify sketchy websites, keep their sensitive data private, and turn to adults when an issue occurs, you shouldn’t worry about them using the internet, always with the appropriate amount of supervision.

6. Be Proactive, Not Reactive

A vital part of a parent’s role in cybersecurity is taking as many preventative measures as they can to keep their children safe online. If you are well-prepared, you will not only prevent most online dangers but also significantly minimize potential damages in case something slips through the cracks. Some proactive steps you can take include regularly updating your protective software (parental controls, content filters, antivirus programs, etc.) and backing up your data and any other important files in secure locations, such as cloud storage or external hard drives. Additionally, you and your kids must know who to contact in the event of an attack or invasion in your network and how to report and block individuals with malicious intent.

Conclusion

In a time when internet access for teenagers and children is almost uncontrollable, the role of parents in promoting cybersecurity is more significant than ever. They are called to take active measures to not only protect their children from numerous online threats but also educate them about cyber awareness. To ensure their children’s online safety, parents need to remember to stay up to date with advancements in online security, invest in technology that monitors their children’s online activities, and communicate openly to foster trust. This way, they can stay safe from cyberthreats and make the internet a positive and beneficial space for their children.

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AI In eLearning Development: Essentials For Implementation

October 17, 2024 No Comments Education , , ,

eLearning App Development And AI Implementation

The eLearning sector is going through major changes with the world’s ongoing digital transformation. The integration of Artificial Intelligence (AI) into eLearning is one of these modifications. The innovative use of AI in eLearning signifies a remarkable shift in the way knowledge is learned and disseminated. Artificial Intelligence technology may effortlessly facilitate and enhance learning by mimicking human intelligence through deep learning and Natural Language Processing. This article will examine how Artificial Intelligence may personalize and enhance digital learning.

AI Technologies In eLearning Development

AI is used in eLearning in different ways. Let’s check how Artificial Intelligence can enhance education, personalize instruction, and streamline administrative processes.

1. Natural Language Processing (NLP)

AI can understand and translate human language with NLP technology. It can analyze written assignments, speeches, and essays. NLP can assess the quality of writing, provide stylistic and grammatical feedback, and even provide summaries or suggestions for improvement. Students can gain constructive feedback and develop their writing skills with NLP.

2. Virtual Reality And Augmented Reality

Merging AI with Augmented Reality (AR) and Virtual Reality (VR) can create outstanding learning environments. Students can investigate difficult ideas practically by running virtual science experiments or visiting historical locations with eLearning technologies. These encounters have been significantly enhanced by AI, which personalizes scenarios according to a student’s learning path.

AI is frequently used to provide immersive learning experiences in AR and VR applications. AI systems can track progress, provide personalized guidance, and adjust to the virtual environment.

3. Intelligent Tutoring Systems

AI is used by intelligent tutoring systems (ITS) to give students individualized education and feedback. These systems mimic individual tutoring by customizing help and meeting individual student needs. ITS can evaluate students’ performance, spot knowledge gaps, and provide practice problems or explanations that are specifically tailored to the needs of the learner.

Learners receive personalized guidance and feedback from intelligent tutoring systems. They employ AI to identify misconceptions and understand learners’ strengths and weaknesses.

4. AI-Powered Assessment Tools

Artificial Intelligence can improve the assessment process by automating homework, tests, and quizzes grading. Machine Learning algorithms are used by automated grading systems. They can assess responses and deliver immediate feedback. This lessens the effort for teachers while simultaneously providing students with quick feedback on their performance and opportunities for development.

5. Predictive Analytics

AI is used in predictive analytics to project future results based on past data. Predictive analytics in eLearning can identify students who could fall behind, offer interventions, and propose more materials. Teachers can support students and increase retention rates by being proactive in identifying potential problems.

6. Adaptivе Lеarning Systеms

The most approachable application of AI in the eLearning development space is adaptive learning. AI systems evaluate student performance data to highlight strengths and limitations. They enable the development of individualized teaching strategies. This flexibility ensures that students can go at their own pace, consolidating the difficult ideas while making progress in the areas in which they shine faster.

These systems provide educators and students with real-time feedback by continuously adjusting based on user inputs. Adaptive learning raises student motivation and engagement by improving the efficiency and effectiveness of the teaching process. This aids students in achieving their learning objectives.

7. Virtual Lеarning Assistants

Virtual learning assistants use Artificial Intelligence and Natural Language Processing to communicate with learners. They are commonly referred to as chatbot assistants or voice-activated assistants. They can enhance the learning experience by offering support, explanations, and answers to questions.

8. Content Creation And Recommendation

AI-enabled platforms can generate educational content, such as tests, simulations, and multimedia presentations. Additionally, based on the preferences, performance, and interests of the learners, they might suggest pertinent resources and learning materials.

9. Gamification

An effective approach to gamifying Artificial Intelligence is through adaptive game design, in which the game changes based on the skills and advancement of the player. For instance, the game can alter its tempo to better fit the learner’s preferred learning style or alter its difficulty level based on how well the player does.

Data-driven learning analytics is another way AI can be used to gamify content. In this method, game data is carefully examined to provide insights into learner performance and behavior. This can assist designers and educators in deciding which aspects and game mechanics are most appropriate for fostering learning.

10. Collaborativе Lеarning

Collaborative learning platforms enabled by AI enable learners to share knowledge and work in groups. To encourage collaborative learning, they provide real-time feedback, intelligent grouping algorithms, and virtual collaboration platforms.

6 Benefits Of Using AI In eLearning Development

To put it briefly, AI in eLearning personalizes learning by adjusting content to each learner’s needs, making it more comprehensible and interesting. Additionally, it streamlines evaluation and gives teachers and students quick feedback. Now let’s examine the important advantages of AI in eLearning in more detail.

1. Personalized Learning Experiences

AI has the ability to adapt instructional materials to the requirements, preferences, and learning styles of specific students. AI-powered systems can promote particular resources, modify the level of difficulty of information, and offer focused feedback by evaluating data such as past performance, engagement levels, and learning preferences. By making the information more relevant and difficult for each student, customization increases learner engagement.

The most relevant learning experience is offered by Machine Learning. Artificial Intelligence, when applied to eLearning, creates courses that are immediately customized to each user’s learning preferences, background, and areas of knowledge gaps. As students gain mastery of the content, it may change. We refer to this as adaptive learning. AI in eLearning is particularly helpful in enterprise learning (in LMSs), where staff members can use self-service tools like analytics to monitor their progress.

2. Chatbots To Fulfill Students’ Demands

In addition to the exponential growth in corporate need for chatbots like GPT-3 and GPT-4, bots are also having a big impact on eLearning. Because they eliminate the need for tutors or teachers, bots speed up the learning process. Furthermore, because bots are inexpensive, integrating Artificial Intelligence into eLearning will be more profitable.

3. eLearning Assessments Get Simpler

The labor-intensive, repetitive, and prone-to-error task of user assessment is removed from educators by Artificial Intelligence. AI-powered technologies can be used to rapidly obtain results on particular indicators and compare test results to see if they are comparable. This shortens the time needed to go from learning to practicing as well as the learning process itself.

4. Training Programs Are Created More Quickly

With language modeling, AI techniques may greatly accelerate the generation of training materials. Using this programming technique, machines may produce material in the same manner as people. Consequently, if needed, you can obtain vast quantities of the content you require in a shorter length of time. It only takes minutes now, compared to weeks in the past.

Furthermore, AI in eLearning can target specific audiences or add keywords to pre-made content to enhance it for Search Engine Optimization.

5. Time And Effort Savings

AI in eLearning automates the translation of content, as well as the labeling, grouping, user course assignment, and test creation.

6. Deep Data Analysis

Tools for learning analytics offer perceptions into every facet of an online course and the experience of the learner. Education providers can also use data analytics to make ongoing improvements to their programs.

Challenges And Considerations For Implementing AI In eLearning Apps

AI implementation in the education and eLearning sectors has the potential to completely transform how teachers and students are trained. It does, however, also include a unique set of difficulties and factors.

Challenges

  • Data privacy issues
    It is necessary to handle the privacy issues brought up by the storage and analysis of substantial volumes of student data.
  • Absence of personalized learning
    For efficient personalized learning, AI technologies must be customized to each student’s unique demands.
  • Teacher training
    To employ AI tools in the classroom successfully, teachers must receive the appropriate training.

Considerations

  • User-friendly interface
    AI resources ought to be simple to use for educators and students alike.
  • Scalability
    To support huge numbers of students, AI systems must be scalable.
  • Curriculum integration
    To improve learning outcomes, Artificial Intelligence techniques should be smoothly integrated with the current curriculum.

The Future Of Learning

With the rapid advancement of technology in our AI-driven society, eLearning will only grow. In the future, AI may be used for even more refined purposes; for example, sophisticated language processing tools for seamless multilingual communication and AI mentors to help students with challenging assignments.

Enhancing educational results is only one goal of integrating AI into eLearning development; another is preparing students for a time when learning and technology will be intricately linked. Teachers may create a more dynamic, responsive, and productive learning environment for students. The market for AI-driven education is predicted to increase from $4 billion in 2022 to $17.8 billion by 2027.

Conclusion

Artificial Intelligence development benefits students, adults, educators, and educational institutions in the field of eLearning. It makes excellent education more widely available and lets students learn at their own speed. AI-driven systems can assess papers, provide tailored resources, and respond to inquiries from students. Predicting when a student is likely to drop out and providing them with the additional support they require will be beneficial from a business standpoint.

In the future, AI’s place in eLearning will only grow; future developments in AI will continue to create interactive simulations that help students better understand complex concepts, just as it is transforming the way humans learn.

AI-driven online learning has enormous promise and is transforming the online learning sector. It is expected to keep changing the eLearning market and offer both teachers and students multiple opportunities. AI has the potential to completely transform education and bring about a new era of learning with the correct plans and tools in place.

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THG expands recycle:me scheme for cosmetics packaging

October 17, 2024 No Comments Beauty , , , , ,

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October 17, 2024

THG continues to evolve on the sustainability front. The digital consumer brands group has announced its expanded recycle:me, the consumer recycling scheme that targets hard-to-recycle beauty and cosmetic packaging, “allowing brand partners to offset new packaging waste fees”.

The scheme offers partners “a truly collaborative approach” to tackling the beauty industry’s waste problem which, it says sees an estimated 120 million units of packaging thrown away each year.

Through “established, trusted partners”, recycle:me provides detailed data that offers “insight into consumer recycling behaviour… crucially support[ing] new modulated Extended Producer Responsibility (EPR fees) that businesses must face”.

So the scheme is targeting one million beauty product units recycled within the first year of launch. In conjunction with THG’s own beauty brands LookFantastic and Cult Beauty, it will allow consumers to recycle any brand’s cosmetic packaging at no cost, using a Royal Mail doorstep collection service.

Sales promotion, marketing, and digital specialist Metrisk, meanwhile, has partnered with recycle:me to create the free related app that consumers can use to scan their packaging, arrange a doorstep collection, and track reward points in exchange for eligible products.

And in partnership with waste management company MyGroup, the packaging will then be repurposed and used for new projects such as beauty packaging research and development or creating equipment for schools.

Mark Jones, chief sustainability officer at THG, said, “For brands, recycling schemes are incredibly complex and costly. With recycle:me, we are offering our brand partners a cohesive industry approach that provides the level of data needed under new EPR regulations.”

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L&D In The Aviation And Airlines Industry

October 17, 2024 1 Comment Education , ,

The Role Of L&D In The Aviation And Airlines Industry

Training needs in the aviation industry are shifting, underscoring the need for L&D to equip employees with specific skills that can enhance workforce competencies and add value to overall organizational efficiency.

Empowering Aviation And Airline Industry’s Transformation Through L&D

Jack Welch, former CEO of General Electric, emphasized that an organization’s ability to learn and swiftly apply those learnings is its greatest competitive advantage. This insight is highly relevant to the aviation industry, where skill-based organizations leveraging personalized, data-driven learning can drive measurable impact, especially in today’s challenging landscape.

How can L&D empower the transformation of the aviation industry? Here are a few methods:

  • Supporting new revenue models – Targeted skill development for employees to adapt to and engage with innovative business strategy models, enabling them to capitalize on new market opportunities and support new revenue streams.
  • Fostering customer-centric skills – Training focused on building communication and emotional intelligence, including empathy, active listening, and problem solving to improve understanding of customer needs and using digital tools for personalized, high-quality customer service that enhances satisfaction and loyalty.
  • Enhancing operational efficiency and sustainability – Equip employees with critical skills in process optimization, lean methodologies, and advanced technologies, L&D enhances efficiency. Additionally, training in eco-friendly practices, resource management, and green technology adoption fosters sustainability and environmental responsibility.
  • Preparing the workforce for future challenges – Prepare the workforce for future technological advancements through continuous upskilling in emerging technologies, such as AI, data analytics, and automation. Foster a growth mindset and resilience to adapt to the rapid industry changes, navigate uncertainties, and remain competitive.

Optimizing Aviation Performance Through Future-Ready Skilling

Tailored training in safety procedures, technical skills, and streamlined maintenance can address aviation’s specific operational needs, driving performance and efficiency. Future-focused skill development in these areas ensures a workforce ready to meet evolving industry demands.

Key customized training programs the aviation and airline industry must focus on:

  1. Compliance training – To ensure employees understand and adhere to international regulations, industry standards, and internal policies, reducing the risk of violations and fostering an ethical workplace culture.
  2. Technical training – To equip employees with specialized skills and knowledge needed to perform specific tasks or operate complex systems and tools, such as managing flight equipment and digital systems.
  3. Soft skills and customer experience training – To develop interpersonal abilities such as communication, empathy, and conflict resolution for improved customer interactions, stronger relationships, and enhanced customer loyalty.
  4. Leadership and operations training – To develop leadership skills, helping managers to effectively lead teams, manage complex operations, and drive performance by focusing on areas like team management, operational efficiency, decision-making, and resource allocation.
  5. Behavioral training – To shape positive workplace attitudes, developing a safety-first mindset, adaptability, conflict resolution, reducing human error, supporting sustainability, and enhancing customer trust.
  6. Cross-cultural training and DEI – To equip employees with the skills to better understand and respect cultural differences, mitigate unconscious bias, work effectively across borders, and promote an inclusive work environment where diverse perspectives are valued.

Innovative Learning Strategies For The Aviation And Airlines Industry

The rapid advancements in technology, increasing regulatory demands, and a heightened focus on safety and sustainability, are necessitating the implementation of innovative learning strategies in the aviation industry.

Some useful strategies to ensure employees in the airlines industry remain skilled and capable of adapting to new operational challenges while enhancing customer experiences, include:

  • Scenario-based learning – Improves decision-making and problem-solving skills during critical incidents by immersing employees in realistic, high-pressure situations that mirror real-world challenges, such as emergency responses or complex maintenance procedures.
  • VR-enhanced immersive learning – Accelerates skill development for improved retention performance in high-stakes situations, using life-like, interactive simulations, such as cockpit operations, emergency evacuations, ground handling, and aircraft maintenance, in a risk-free environment.
  • Advanced simulations – Allows employees to practice critical skills and decision making in a safe and controlled setting through high-fidelity simulators that mimic various operational scenarios, including flight operations, air traffic control, equipment handling, and safety.
  • Roleplay for customer service – Simulates customer interactions to enhance communication skills, develop empathy, improve emotional intelligence, resolve issues effectively, and deliver exceptional service in real-world situations.
  • Just-in-time learning – Provides employees with on-demand, targeted, and relevant microlearning modules precisely when they need them, facilitating on-the-job training and reducing knowledge gaps.
  • Behavioral change training – Leverages data to equip employees with new behaviors such as safety, teamwork, and operational efficiency through modern tools and techniques for better alignment with organizational goals.

Measuring The ROI Of L&D In Aviation

Measuring the ROI of L&D in aviation is crucial for demonstrating tangible benefits amid industry shifts toward sustainability, technology upgrades, and regulatory compliance. This assessment helps justify investments and optimize resources to meet evolving operational demands and environmental standards.

Key areas for ROI calculation often include:

  • Operational training metrics – To identify areas of improvement, streamline operations, and enhance overall performance by evaluating the effectiveness of business processes on parameters such as reduced incident rates, faster onboarding, and efficiency.
  • Customer experience – To measure customer feedback for improved customer satisfaction scores (e.g., Net Promoter Score) and service quality that result from enhanced employee skills, retention rates, and applied behaviors.
  • Retention and recruitment – To analyze the impact of training on engagement scores, attracting top talent, and reducing employee turnover rates, as higher retention reduces recruitment and onboarding costs.
  • Compliance and safety – Evaluate reductions in accidents, incidents, and compliance violations, as well as adherence to safety regulations specific to the aviation industry.

Case Study: Enhancing Compliance Awareness Through Conflicts Of Interest Training

Objective

A large airline company required a conflicts of interest training module to ensure that all employees are able to recognize possible conflicts of interest and appreciate fully how any such issues need to be disclosed in order to reduce legal exposure and protect the image of the organization instead of further tarnishing it due to such incidents.

Solution

In order to meet this significant gap in knowledge concerning conflicts of interest, we created an extensive online training module. This module provides insights into various types of conflicts, real-world scenarios, and the disclosure process specific to the organization. The training incorporates an engaging comic book theme and interactive elements to ensure a dynamic learning experience.

Key Features

  • Illustrative comic book design to simplify complex concepts
  • Context-setting introduction with an example to highlight the importance of conflict disclosure
  • Interactive office map navigation that enhances engagement
  • Scenario-driven case studies for practical application
  • Knowledge tests throughout the course to reinforce learning

Implementation

The training module was deployed as part of the annual conflict disclosure process, ensuring timely relevance. Employees received emails prompting them to complete the training online, supported by reminder communications. The timing of the training coincided with the disclosure requirement, facilitating immediate application of learned concepts.

Impact

The training module achieved a remarkable 98% completion rate, with 7059 out of 7203 employees participating. Post-training disclosures indicated a significant increase in awareness, as more employees reported ongoing conflicts that had previously gone unnoticed. The increase in inquiries related to conflicts of interest post-training demonstrated a heightened awareness among staff, reflecting the program’s success.

Example of prototype L&D in the aviation and airlines industry

Example of prototype L&D in the aviation and airlines industry

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Originally published at www.eidesign.net.

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