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June 24, 2019

Why do we need World Product Day?

Around the world, we have Hug Your Cat Day, Lucky Penny Day, Ditch New Year’s Resolution Day, Play Your Ukelele Day, Oatmeal Nut Waffle Day and Grilled Cheese Day – just to name a few.

Today is World Product Day, in fact the first ever World Product Day to have been held. 

#WorldProductDay which spans 43 countries and incorporates events in 90 cities, grew out of a Product Tank initiative founded and developed 8 years ago in London by Mind the Product.

WPD is a simple concept that aims to ‘Bring together Product Managers from around the world to raise awareness of, and the appreciation for, the craft of product management.’

Which prompts the question, why do we need a World Product Day?  The answer to which, is the fourth industrial revolution.

The First Industrial Revolution used water and steam power to drive production which led to greater levels of urbanisation. The Second, much to the delight of Adam Smith, used electricity to create mass production. The Third used electronics and IT to automate production and popularise personal computing. And now, the Fourth Industrial Revolution is radically expanding on the Third, to power the digital revolution that has been accelerating over the last decade.

The Fourth Industrial Revolution has created a fusion of technology that has crossed the physical and digital divide to drive the commercialisation of personalisation at scale, VR, AR, AI and, in context, positioned product management at the heart of this fourth wave or industrialisation.

So, there you have it and let us be one of the first to wish you a Happy World Product Day.

Richard Spencer, Chief Product Officer at Isentia

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Our IT teams spend much of their time talking with clients about new ideas and improving user experience. As such, product development is a huge part of their role.

Computer science is as much art as it is science. With that in mind, at Isentia, we try to keep things as simple as possible. We increase our developers’ productivity by training them to avoid code complexity, write simple code and follow good software engineering practices when implementing a solution to a problem.

The goal is to make Mediaportal, our blue ribbon platform, easy to use for both the everyday user and those who log in more sporadically.

After extensive research we uncovered a few home truths:

The Architecture of Information in Mediaportal needed improvement: Users felt that jumping from one important feature to another took too many steps. At the same time, visual complexity made the menu hard to scan.

More intuitive design was required: Certain core functionalities were not prominent, with some users struggling to navigate to popular tabs.

Mediaportal needed a more responsive design: Client feedback from users logging on via lesser-known browsers or smartphones showed that not all Mediaportal functions were easy to navigate. We know how important it is for clients to access Mediaportal throughout the day across multiple devices. As such, our technology requires constant review to ensure Mediaportal remains a platform that delivers insights and news anywhere, anytime.

As such Mediaportal has undergone an overhaul.

At the core of this project, as always, were the clients. We worked closely with more than 35 of them, collecting hours and hours of interviews and testing dozens of different design variations. We listened carefully to their feedback and ensured it was incorporated into every design. The end result? Our teams designed a platform that is intuitive and can be used to its full potential by everyone – from first-time users to our most regular visitors.

Enterprise applications bring a whole domain of complexities when compared to consumer apps, as they usually involve connecting to one or more legacy systems and include a much greater scope. However, complexity does not mean we have to settle for less in design. Instead, a well-designed enterprise application harnesses a greater positive impact for the business.

For more information on our Mediaportal platform and the service we deliver, visit our services page and connect with us.

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Blog
Design, develop, test. Design, develop, test. Repeat.

Our IT teams spend much of their time talking with clients about new ideas and improving user experience. As such, product development is a huge part of their role.

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Take a peek at Isentia's new look Sydney and Melbourne offices

24 October 2018

Media intelligence and insights leader, Isentia (ASX:ISD) opens its doors to a newly refurbished Melbourne office and shares a sneak peak into its Sydney HQ designed for a new and tech savvy workforce.

SYDNEY

Located on Cleveland Street in Surry Hills, the light-filled Sydney HQ enjoys uninterrupted views of Sydney city and Prince Alfred Park. 

Conveniently located, just a few minutes’ walk from Central Train Station, the office is well connected to bus routes and the soon to be completed light rail. Staff also benefit from newly renovated end-of-trip facilities such as showers, lockers and bicycle parking. 

The vibrant area of Surry Hills is home to a range of cafes and restaurants, gyms, yoga studios and (year-round heated) Prince Alfred Park Pool, with open grass area for unwinding or enjoying a quick break outdoors. 

Isentia HQ benefits from an airy and open plan design creating a sense of community. A newly renovated, open plan kitchen and common area isoften used for Friday drinks, birthday celebrations and friendly (competitive) table tennis matches. Breakout areas, huddle spots, and quiet rooms are available in addition to meeting rooms, making a range of work activity possible – with an innovation lab coming soon!

The office renovations form part of Isentia’s transformation as a tech company. Supporting this are a wide range of career opportunities from CX, product design and development, infrastructure and solutions development to media analysts. 

Isentia Reception in Sydney
Isentia HQ Kitchen includes group tables, ping pong and modern kitchen facilities

MELBOURNE

Last week the team presented a completely redesigned Melbourne office, now housing more than 70 desks for local analysts, sales, client service and editorial team members as well as new glass offices and meeting spaces that encourage natural light to flow to every corner. 

While Sydney will remain Isentia's headquarters, the decision to update the Melbourne office was an easy one says John Bissinella, Head of Client Solutions. "It was important we update the look and feel of our Melbourne office to keep pace with the speed and innovation of our tech. We deliver Australia’s fastest, most comprehensive and reliable media monitoring, intelligence and insights service – it was time for our workspace to be reflective of this.”

We’re excited to share this space with our valued clients who value the rigour with which our insights and intelligence services are delivered, and appreciate hearing from the people who work to deliver their service 365 days of the year.

With a new kitchen and breakout spaces, renovated bathrooms (including showers and change facilities for commuters), as well as improved lighting, flooring and desk layouts, the office promotes greater collaboration between teams and encourages a more flexible work environment.

Melbourne Isentia new look refurbishment

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Media Release
Inside Isentia’s Sydney HQ and their newly renovated Melbourne office

Isentia (ASX:ISD) opens its doors to a newly refurbished Melbourne office and shares a sneak peak into its Sydney HQ designed for a new and tech savvy workforce.

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Image of falling stock prices in a crisis on a blue background

In today's fast-paced world, audience intelligence is critical to crisis management. By understanding who your audience is and what they want, you can more effectively manage a crisis. 

The constantly changing landscape of the internet and social media can make it difficult to stay ahead of the curve. Additionally, the vast amount of data available can be overwhelming and make it difficult to identify the most important information.

Getting a hold of the narrative in the media is crucial. It's inevitable that at some point, your brand will receive negative press. Whether it's a simple misunderstanding or a full-blown crisis, bad press can have a serious impact on your brand's progress. 

Surviving a crisis: Optus & BeReal

Crisis management bar graph of Optus data breach mentions in the media
More than 100,00 mentions of Optus in the media since the data breach announcement.

On 21 September, there was a data breach of telecommunications company Optus where many of its customers’ information were compromised. In response, the company adopted a cautious and controlled approach in delivering its external communications. 

However, the approach allowed the media as well as social media to swirl negative narratives about the company’s “inaction”. In the three weeks after the announcement that its databases had been hacked, there were more than 123,000 mentions of the company in the media. 

In this instance, addressing a crisis quickly to minimize the impact on your business is critical. Seeing a spike in media coverage becomes a good barometer of how negative sentiment can escalate against your brand. 

In another example, rising social media app BeReal suffered a shutdown in September. The app focuses on users being authentic in their posts by prompting them to post pictures of themselves at random times of the day. With almost 15 million downloads of its app in September alone, the shutdown caused a stutter in its communications approach.

Image of BeReal tweet on shutdown
Source: Twitter

With a single tweet acknowledging the shutdown of its service, users were left puzzled as to what had happened. Media queries were left unanswered. This silence by the social media platform led to high-profile news sites such as Yahoo and TechCrunch covering the shutdown. 

This is a highly risky communication approach in an extremely competitive market of social media platforms. Social media giant TikTok rolled out its version of BeReal while Instagram has begun testing the function. 

Image of tweet on BeReal shutdown and crisis management
Source: Twitter

The lack of transparency during a crisis such as a shutdown can lead to negative publicity and a loss of trust in the company. If users are not given clear information about why an app is shutting down, they may feel ‘lost’ and ultimately lose them as users

7 things to consider for your crisis management strategy

While it's impossible to completely avoid negative press, there are steps you can take to manage it and protect your brand's reputation.

1. Acknowledge the crisis & remain transparent

In the hyper-speed age of information-sharing and social media, it's more crucial than ever to be open and honest with your audience. 

When something goes wrong, don't try to hide it - own up to it and let people know what you're doing to fix the problem. 

Being open and transparent will help build trust with your audience and show that you are committed to making things right.

2. If it happens in your industry, it's your crisis

When a crisis strikes your competitor, there is no time to revel in their troubles. On another day, the crisis could happen to your brand and the scrutiny would be as intense as it was for your competitors. 

Take notes of what is happening in the media and quickly facilitate actions to counter any possible scrutiny that might come your way. These actions must be part of your crisis management plan.

3. Anticipate and monitor the crisis

In the high-speed world of audience intelligence, crisis management is essential to protecting your brand. Rapid response and proactive communication are key to mitigating the damage of a negative event. 

By monitoring the conversations online and identifying potential risks, you can take steps to prevent a crisis before it happens. If a crisis does occur, having a plan in place will help you quickly contain the situation and protect your organisation's reputation.

Make sure you have a media monitoring function so that you can monitor the escalating spread of news. Additionally, a social media intelligence platform can identify topical discussions your audience are engaged in.

4. Don't argue, trivialise or act defensively

Crisis management is the process by which an organisation deals with a major disruptive event. It's critical to remember that in a crisis, your audience is seeking reassurance and guidance on the issues.

Therefore, it's essential that you don't argue, trivialise or act defensively. Instead, you need to be calm, informative and decisive in your actions. This will help to instill confidence in your audience and allay the media pressure to give you space to address the crisis.

5. Keep it short and sweet

The message you send out must be brief and informative in order to effectively manage the crisis. Getting involved in a large-scale debate is not advisable because it distracts your focus from finding solutions. 

A brand crisis can be a very difficult situation to navigate. Your audience is interested in what you are going to do next and what will happen to them. It's important to keep your audience updated on what is happening and what you are doing to resolve the issue.

6. Address your most important audience

In the event of a crisis, it's essential to quickly identify your key audiences and address their concerns. For a fast-moving consumer goods or a services organisation, the customer comes first because they are the primary audience of interest. 

It also depends on what type of crisis it's. If there is a workplace safety and security matter, it's better to address your employees first and reassure them on resolving the crisis. 

Ultimately, it's best to identify key audiences and have various sources of information to implement this preemptive approach. From discovering communities in social media narratives to stakeholders of your business, keeping the flows of communication open is a priority.

7. Keep authorities and the media on your side

In the event of a crisis, it's essential to effectively communicate with the authorities and the media. Provide updates to the media and work with authorities to ensure that they are kept informed of the situation. By having a good relationship with them, the crisis is managed effectively and the negative impact on your business is minimised.

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Blog
Crisis management with audience intelligence

Crisis management is crucial for any brand. In today’s social media-driven world, a brand crisis can quickly spiral out of control.

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Next week’s Federal Budget has many Australians wondering how they will be affected. 

The government has strongly advocated for building a more resilient economy than their predecessors, yet in recent months, the economy is suffering due to a rapid rise in inflation. This has pushed up interest rates and is squeezing the cost of living with both consumers and businesses feeling the pressure. 

Following groceries, the leading financial stressors for Australians are petrol, rent, mortgage payments and energy bills. And just to make ends meet, Aussies are making more considered purchases, seeking higher paying employment or working multiple jobs. Australians are already anxious about inflation with growing concern there’s no end in sight. 

Will the government restore their trust in Australians and keep their pre Federal Budget promises?

Cost of living crisis

Latest data from CHOICE’s Consumer Pulse survey, revealed that cost of living pressures are a major concern, with 90% of Australians seeing an increase in their household bills and expenses over the past year. 

Inflation pressures are intensifying and the Reserve Bank of Australia (RBA) continues to drive up interest rates - their highest level in 7 years. The government has promised a long-term and sustainable approach to cost of living support in the form of a relief package. 

Concerned about their mortgage payments, up to a third of mortgage holders could struggle to keep up with future repayments, with younger generations particularly concerned about surging interest rates. 

Using Isentia data, during an eight week period from early August to early October 2022, 18% of Australia’s front pages featured cost of living stories. Even in a time of large local and international news such as the war on Ukraine and the Optus security breach, the cost of living crisis was still making front page news.

According to Pulsar data, anxieties around the cost of living, peaked following the RBA's interest rate announcements on 4 September and 4 October. For the sixth consecutive month, Australians have had to tighten an already lean household budget.

Apprehensions around security increased on 24 September as a result of the Optus security breach and again on 10 October when the government announced changes to the country's defence projects.  Also on 10 October, cost of living concerns spiked after growing speculation surrounding the Stage 3 tax cuts being recalibrated. Australians also felt a heightened sense of unease after the announcement of a future surge in energy costs, following a recent  35% rise.

Topics causing anxiety this Federal Budget
Anxieties surrounding topics mentioned by the government. Source: Pulsar

Childcare fees are at their highest in 8 years, with child care subsidies failing to keep out of pocket costs to a minimum. On 16 September, conversation around child care spiked, as Treasurer Jim Chalmers promised to reduce the cost of childcare, yet pledged to keep spending restrained in light of budgetary constraints. 

As part of the cost of living relief package, this reduction won't come into play until mid 2023. Can Australian families wait this long?

Problematic climate conditions such as excessive rain and floods are leading to localised food price increases and diminished food quality. Even in the same area, poorer households are faring far worse than affluent counterparts. Across the board, there has been  a surge in the cost of fruit and vegetable prices (7.3%) and meat, seafood and bread rising by 6.3%

On top of these climate issues, labour shortages in both warehousing and transportation have resulted in added disruption to the supply chain. Freight costs are on the rise, putting intense pressure on importers and exporters. 

Are Aussie consumers looking at a continued supply chain that is more disruptive than the 2020 toilet paper shortage? The rise in the cost of living weighs on households' spending, and Australians are seeking alternate ways to make extra cash.

The thrifty shopper

As the cost of living rises, many Australians are seeking alternate ways to make or save cash; trimming budgets where they can; cancelling home entertainment subscriptions, and reducing insurance coverage for lower fees to name a few. Purchases at all levels are becoming more involved and highly considered, with discounts heavily sought after.

As Millennials and Gen Z shoppers are gaining more buying power, their passion for sustainable commerce is stronger than ever. Selling personal items to make extra cash has been on the rise with retail e-commerce platforms such as Facebook Marketplace and ‘Recommerce’ platforms like AirRobe, are booming. Not only are Australians becoming more financially savvy, they are conscious of the need to ‘reduce, reuse and recycle’ - a criteria these platforms adopt.

Following the money

There’s no doubt that inflation is changing salary expectations. And for those in industries where movement and remote working is possible, many Australians are following the money.

Data from the Reserve Bank of Australia, shows organisations have reported higher rates of employees leaving to achieve higher pay packets as a way to provide temporary relief for  the rise in cost of living. Interestingly, this higher voluntary turnover was especially concentrated in professional services. 

In response to labour shortages, organisations are implementing a range of non-base wage strategies - e.g bonuses, flexible work practices, more internal training and hiring staff with less experience, as opposed to increasing base wages.

Australian Bureau of Statistics (ABS) figures also show Australians are taking on multiple jobs, as full-time work forces employees to juggle several roles to make ends meet. Although multiple job holding is more common in low-paid industries, a record high of 900,000 people held multiple jobs in the June quarter of 2022. 

This is an increase of 4.3 per cent from the previous quarter and is a reflection of wages growth stagnating and nominal wages barely keeping up with consumer prices. The result; people needing to work more hours to make ends meet. 

Using data insights from Pulsar, wages is one of the ‘most anticipated’ topics in this year’s Budget. The Wage Price Index (WPI) rose 0.7 per cent in the June quarter and 2.6 per cent over the year, which represented a substantial fall in real wages given inflation rose 6.1 per cent last quarter. 

Social media conversation around wages is evolving with other indicators suggesting wages are still climbing alongside extreme uncertainty surrounding global growth and rampant inflation. 

Will Australians see more dollars in their pocket after the Budget is handed down?

The "most anticipated" topics in this year's Federal Budget.
The "most anticipated" topics in this year's Federal Budget. This is a visual representation of the conversation frequency of topics over time. Source: Pulsar

Australians taking action

With Australians taking a greater interest in living a sustainable lifestyle, the government and organisations are prompted to influence the lever of positive change and create actionable outcomes.

Despite a great deal of politicians pledging change, governments are often swayed by the media and public opinion which can derail policies wanting to address complex, longer-term challenges. Millennials and Gen Zs have long pushed to see societal and economic change. 

Results from the 10th Annual Deloitte Global 2022 Gen Z and Millennial Survey shows they are increasingly becoming more politically involved. These influential cohorts are progressively showing interest in political issues, and turning to social media to discuss their opinions. Moreover, they are consciously making calculated career decisions and spending their money with organisations who share the same values.

The top keywords used by key communities discussing the Federal Budget online and social media.
The top keywords used by key communities discussing the Federal Budget online. Source: Pulsar

Social engagement shows left wing millennials are showing concern over the budget and economic issues, with Treasurer, Jim Chalmers gaining the most chatter. Similarly, baby boomers are equally vocal, using the same keywords as millennials but they also seek strong leadership and a strong economy.

For younger demographics, their interactions or relationships with organisations is dependent on the organisation's treatment of the environment, their policies on data privacy and their position on social and political issues. 

For governments, tackling environmental, economic and social issues and their impact requires a huge transformation across all sectors. Market forces alone will not solve the problem, and the onus is on governments to take a lead to meet the sustainability challenge. 

The October Federal Budget is an opportunity for the government to show they are the lever of change by creating actionable outcomes and a positive impact. Australians are concerned for the welfare of the country and previous governments have fallen short. 

The government promises to back clean energy and build new renewable infrastructure across the country, will they succeed or disappoint?

The Federal Budget can be an overwhelming time, with an abundance of promises and policies, it can be hard to stay on top of the latest news. We have a comprehensive range of political news services available to help you navigate the political media coverage at this October Federal Budget. Want to learn what’s being said at this Federal Budget?

Click here to start navigating the announcements that may impact your organisation.

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Blog
How concerned are Australians about the Federal Budget?

The upcoming October Federal Budget has many Australians wondering how they will be affected. 

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