Do you find you are spending more and more time on your phone, scrolling through your social media feeds? 

Will the new Instagram Threads age well and continue to grow in popularity and usefulness, or will it go the way of many social media platforms and programs that have a use-by date and sink quietly into oblivion?

The World Economic Forum included using the metaverse to improve mental health outcomes for people. In other words, this is using screen time to build connections in shared virtual spaces to assist in combating the growing mental health crisis instead of contributing to it.

It is well known that excessive screen time and social media use can lower psychological well-being, particularly in adolescents and children^[1].

Yet in the 2023 Flagship Report on the Top Ten Emerging Technologies for 2023, the World Economic Forum included using the metaverse to improve mental health outcomes for people. In other words, this is using screen time to build connections in shared virtual spaces to assist in combating the growing mental health crisis instead of contributing to it.

The impact of mental health issues has increased both in Australia and in Singapore since COVID-19.

The mental health impact in Singapore

COVID-19 added to the stressors facing many young people in Singapore, with home-based learning creating a sense of isolation and the ongoing pressure to perform academically. The recession caused by the pandemic also increased the anxiety of youths as they faced an uncertain future. Hence, for many Singaporean young people, the pressure to achieve academically, social isolation and increasing anxiety about the future has contributed to rising mental health issues. In 2021, the youth suicide rate in Singapore reached a five-year high.

Graduating from the education system does not mean that Singaporeans are leaving the pressure cooker lifestyle of the education system behind. The already stressed-out youths enter an even more demanding workplace. Employees in Singapore tend to work long hours. This only worsened with COVID-19 when personal and professional boundaries became blurred with working from home. It is thus unsurprising that Singaporean workers report high levels of burnout and the associated mental health conditions of depression and burnout.

The cost of treatment, especially in the private healthcare sector, is a significant deterrent for many Singaporeans. While public mental healthcare is subsidised, where people are experiencing acute symptoms and cannot wait, many must pay hundreds of dollars out of pocket for a session with a mental health professional in private practice. This puts effective mental health treatment out of reach for many. When surveyed, Singaporeans rated the effectiveness of treatment for mental health issues such as suicide in the country as average.

The mental health impact in Australia

From the 2021 NSMHWB (ABS 2022a), it is estimated that:

●    1 in 5 (21%) people who had experienced a mental disorder in their lifetime had symptoms in the 12 months before the survey interview. For these people, anxiety disorders were the most prevalent type of disorder (17%), followed by affective disorders (8%) and substance use disorders (3%).

●    A higher proportion of females than males (45% compared with 43%) had experienced a mental disorder in their lifetime, with a higher proportion of females than males (25% compared with 18%) also experiencing symptoms in the 12 months before the survey.

●    16–24-year-olds (40%) were most likely to have experienced symptoms of a mental disorder in the previous 12 months, while those aged 75–85 years were the least likely (4%).

Hence, both Singapore and Australia share similar experiences in the mental health area that include:

a)     Increasing number of people within the community experiencing mental health issues.

b)     Rising cost of mental health care. 

c)     Mental health services unable to keep up with demand. Within the United States, it is estimated that the psychiatrist workforce will contract through 2024 to a projected low of 38,821. This equates to a shortage of between 14,280 and 31,091 psychiatrists. Although these are US figures, they are not unique because Australia and Singapore also face a shortage of trained professional staff to deal with the rising incidence of mental ill-health within the community.

Given these factors, the inclusion by the World Economic Forum of the metaverse as a virtual reality space where people can interact with a computer-generated environment and other users in real time for mental health support and well-being makes sense.

How the metaverse can assist with the delivery of mental health services

The metaverse can be utilised to provide mental health services in several ways.

1. Virtual Therapy and Counselling

The metaverse can provide a platform for virtual therapy sessions, allowing individuals to connect with mental health professionals remotely. This can improve accessibility and convenience, particularly for those with limited access to in-person therapy or who live in remote areas.

2. Immersive Relaxation and Mindfulness

Virtual reality experiences within the metaverse can offer immersive and calming environments that promote relaxation and mindfulness. These experiences can help individuals reduce stress, anxiety and improve their mental well-being.

3. Social Support and Community

The metaverse can serve as a space for people to connect with others who share similar experiences or struggles. Virtual support groups, communities, and social networks can provide a sense of belonging, reduce feelings of isolation, and allow individuals to share their stories and support each other.

4. SKILLS TRAINING AND EXPOSURE THERAPY 
Virtual reality simulations within the metaverse can be utilised for skills training and exposure therapy for various mental health conditions, such as phobias or anxiety disorders. By creating controlled virtual environments, individuals can gradually face their fears or practice new coping strategies in a safe and controlled manner.

5. Education and Psychoeducation
The metaverse can offer a platform for mental health education and psychoeducation programs. Interactive virtual environments can provide engaging and informative experiences to teach individuals about mental health, promote self-care practices, and raise awareness about different conditions.

6. Avatar-based Self-Expression

In the metaverse, individuals can create avatars that represent themselves. This can allow people to express themselves freely, explore aspects of their identity, and engage in self-discovery. Avatar-based self-expression can be empowering and supportive for those who may feel restricted or judged in their physical lives.

Gaming platforms are already being used for mental health treatment. Such platforms increase patient engagement and help destigmatise mental health issues. For example, DeepWell Therapeutics has created video games to treat depression and anxiety; UK-based Xbox studio Ninja Theory has incorporated mental health awareness into mass-market games and plans to expand into treatment with their Insight Project.

However, it is essential to note that while the metaverse can benefit mental health, there are potential issues and drawbacks that must be considered. Some of the potential risks associated with the metaverse include:

1. Lack of Human Connection

While virtual interactions, even in immersive environments, are better than nothing, they cannot fully replicate the depth and nuances of in-person human connections. This could lead to isolation or detachment, especially for individuals who rely on genuine social interactions for their mental well-being.

2. Unrealistic expectations

The metaverse might create unrealistic expectations for what mental health support can provide. Virtual reality experiences can be powerful but should not be seen as a substitute for professional therapy or medical interventions. People might expect quick fixes or immediate solutions to complex mental health issues, which can lead to disappointment or even exacerbate their conditions.

3. Accessibility and inclusivity

While the metaverse has the potential to provide support to a wide range of individuals, it also introduces new challenges related to accessibility and inclusivity. Only some people can access the necessary technology or skills to navigate virtual reality environments. This could create a digital divide, further marginalising those who already face barriers to mental health support.

4. Data privacy and security

The metaverse relies heavily on collecting and analysing user data to create personalised experiences. This raises concerns about data privacy and security, as personal information could be exposed or misused. Moreover, collecting sensitive mental health data could have long-term implications, including potential discrimination or stigmatisation.

5. Ethical concerns

The use of virtual reality for mental health support raises ethical questions. For example, there is a risk of potential exploitation or manipulation of vulnerable individuals within the metaverse. Additionally, issues related to informed consent, data ownership, and the boundaries of therapeutic relationships need careful consideration.

6. Addiction and overreliance

Immersive virtual environments have the potential to be highly engaging and addictive. If individuals start relying excessively on the metaverse for mental health support, it could lead to a neglect of real-world relationships and responsibilities, ultimately worsening their mental well-being.

Adopting a cautious and evidence-based approach is crucial when integrating the metaverse into mental health support to address these risks.

Thorough research, ethical guidelines, and the involvement of mental health professionals are necessary to ensure the responsible and safe use of these technologies. Providing these risks are recognised and managed effectively and ethically, there is the possibility that the metaverse may be a tool to assist in improving some people’s mental health.

[1] https://www.sciencedirect.com/science/article/pii/S2211335518301827

Social Impact Investment (SII), also known as Impact Investing, is an approach to investing that seeks to generate positive social and environmental impact alongside financial returns. It is fast becoming one of the world’s most significant investment trends, and in Australia, it is expected to be worth around $500 billion by 2025.

The primary goal of social impact investment is to address societal and environmental challenges by using capital to create measurable, positive outcomes for both people and the environment. This synergy between addressing societal and environmental factors and having access to financial investment makes SII attractive for many not-for-profit and social enterprise organisations.

The Rise of SII
SII investing evolved from socially responsible investing (SRI), which escalated in the 1960s when anti-Vietnam War activists lobbied for universities to screen out defence contractors from endowment funds. SRI sought to exclude unethical or harmful investments like tobacco and fossil fuels.

From the mid-2000s, as environmental, social and governance (ESG) factors began to take priority for consumers, businesses, and boards, SRI, while helpful, was limited by its emphasis on avoiding harm.

The advantage of Impact investing is that it is more closely aligned with the ESG responsibilities of businesses and brands because of the focus on investments creating measurable positive and social impacts as well as generating a financial return. Stephen Fitzgerald, an independent non-executive director of insurance company QBE, says;

“Rather than just trying to reduce the negative impact of investments you have made, [impact investing] is proactively looking to have a net positive impact, or net positive externality, as well as delivering mainstream returns.”

Benefits of SII

This emphasis on SII seeking to balance investment return with a positive impact and an organisation’s ESG responsibilities means it has some distinct benefits for companies.

1.  Positive social and environmental impact

The core advantage of SII is its ability to drive positive change by addressing pressing social and environmental issues. This can include areas such as clean energy, affordable housing, healthcare, education, poverty alleviation, and more. For example, it has been used for

• An organisation that researches cures and treatments for diseases.
• A company that rents out affordable housing.
• A bank that provides micro-loans to disabled entrepreneurs [1].

2.  Alignment with Values

SII investors often have specific values or causes they care about deeply. Impact investment allows them to align their investment decisions with personal or organisational values,

fostering a sense of purpose and the satisfaction of contributing positively to society and the environment.

3.  Financial Returns

While the primary focus of SII investment is on creating a positive impact, it’s important to

note that financial returns are still a significant consideration. Impact investments aim to

generate competitive financial returns, which makes them attractive to a broad range of investors.

4.  Innovation and Scalability

SII investing encourages innovation by funding projects, companies, and organisations creating new solutions to societal challenges. Successful models can be scaled up to have an even greater impact.

5.  Leveraging Capital

By directing investment toward socially and environmentally impactful projects, SII investors contribute to filling gaps that traditional philanthropy and government programs might not address fully.

6. LONG-TERM PERSPECTIVE

SII investors often take a longer-term view of their investments, focusing on sustainable growth and lasting impact rather than short-term profits. This can align well with creative solutions that require time to show meaningful results.

7. RISK MITIGATION 

Investments targeting social and environmental impact often involve risk mitigation strategies. For example, building strong relationships with local communities, fostering transparency, and considering broader stakeholder perspectives.

8. ACCOUNTABILITY

Impact investors typically emphasise measurable outcomes. This encourages rigorous tracking and reporting of investments’ social and environmental results, enhancing transparency and accountability.

9. COLLABORATION

Impact investing often involves collaboration among stakeholders, including investors, NGOs, governments, and local communities. This collaborative approach can lead to more holistic solutions to complex challenges.

Although impact investing has many benefits, it is essential to note that it has challenges. Some of these challenges and risks which must be considered include:

1. The challenge of accurately measuring and reporting the impact

Assessing and measuring investments’ social and environmental impact can be complex. Determining whether the intended outcomes have been achieved accurately is challenging, and inconsistent reporting practices make comparing and evaluating different investment opportunities difficult.

Avoiding “impact washing” (superficial claims of impact without evidence) and addressing potential conflicts between impact goals and profit motives are some of the complexities that impact investors must navigate.

2. Balancing trade-offs between impact and financial returns

Striking a balance between achieving positive social impact and generating competitive financial returns can be challenging. In some cases, investments prioritising impact may yield lower financial returns than traditional investments, leading to potential conflicts for investors seeking both.

3. Lack of StandardiSation

The lack of standardised definitions, metrics, and frameworks for measuring impact can lead to confusion and greenwashing (exaggerating the positive impact of investments). This lack of standardisation can hinder transparency and trust within the industry

4. Market Risk and Performance

Like any investment, social impact investments are subject to market fluctuations and economic uncertainties. The focus on impact does not eliminate these market-related risks, and investments may still experience financial losses.

5. Limited Investment Opportunities

The pool of suitable investment opportunities may be limited depending on the specific social or environmental criteria an investor seeks. This could lead to reduced diversification and potentially increased risk exposure.

6. Potential for Mission Drift

As investment strategies evolve over time or face financial pressures, there’s a risk that the initial social or environmental mission of an investment may be diluted or compromised (mission drift). This can occur if the pursuit of financial returns takes precedence over impact.

7.  Regulatory and Legal Risks

Social impact investing involves navigating complex legal and regulatory landscapes.

 In some cases, investment strategies may face legal challenges, especially if they involve

unconventional financial structures or require compliance with specific impact

standards. These legal challenges may cause investors to be risk-averse.

8. Longer investment horizons

As mentioned above at point 6 of the benefits of SII, some impact investments may require longer time horizons to achieve their intended outcomes. While this can be a positive for creative solutions that need a longer time frame to achieve results, it can also lead to liquidity problems and limit investors’ ability to reallocate their capital to other investments.

9. External factors

The success of impact investments can be influenced by external factors beyond an investor’s control, such as changes in government policies, technological developments, or shifts in public sentiment.

To mitigate these risks, investors interested in social impact investing should conduct thorough due diligence, seek expert advice, diversify their portfolios, and stay informed about impact measurement and reporting practices developments. It’s important to carefully evaluate each investment opportunity’s potential positive impact and financial risks.

All organisations, not-for-profit. social purpose or otherwise, at some point, will need external funding to enable them to grow further. Government grants, mainstream banks and financial institutions, traditionally the first point of call for this funding, is not a route open to many social purpose or not-for-profit organisations.

Traditional financiers may be unable to fund unproven business models and organisations without a profit-making track record. Also, certain financiers may require a minimum level of financial performance to be met before considering investing.

However, with the growth of the impact investing market in Australia ($1.2 billion under-investment in 2015, potentially growing to $500bn in 2025), many social purpose organisations are now finding impact investing is a potential solution to their funding requirements.

[1]  https://www.ledge.com.au/news

We build trust with our clients through the story of our brand. If our story does not connect with and motivate people, everything else we do is a wasted.

In a recent article on navigating fake news on social media, we highlighted the importance of brands being authentic and building trust with clients.

We build trust with our clients through the story of our brand. If our story does not connect with and motivate people, everything else we do is a wasted effort because people will not connect with our brand.

How do we craft the story of our brand in such a way it resonates with and connects with people?

The importance of the story is the story

This is something brands forget when creating sales funnels.

It is easy to fall into the trap of thinking the purpose of having a brand story is to create sales. While a compelling brand story may increase sales, sales are never the primary purpose of a compelling brand story.

The purpose of the story is to create a personal connection.

We have all been in sales situations where we know the salesperson only appears interested in and friendly to us to get us to buy. Equally, we have been in situations where the salesperson has been genuinely interested in us and seeks to create a connection and where the selling is secondary. In the first situation, we are unlikely to trust or buy from the person because we know the person is only using us to make a sale. In the second scenario, we feel that personal connection and trust the person.

In the same way, a brand story that is only used to generate sales is unlikely to connect with people and will often generate a sense of distrust. In contrast, brand stories that seek to connect with and deepen existing connections are more likely to be trusted.

Why do stories that we connect with create trust?

Human society and individuals have evolved as storytellers. For centuries, our ancestors have told stories. It was how history was passed down and how people made sense of the world around them.

The philosopher Descartes’s premise, “I think; therefore, I am”, and the age of rationalism and logic is a recent aberration from these long centuries of storytelling. As much as we like to believe in our rationality and logical thinking, the truth is that we are still people who tell stories.

Why?

Because stories impact our brains in ways that logic and rational thinking never do. When we think about stories we love and remember, it is likely we remember these stories because of the emotional connection they created in us [1]. We remember how the story made us feel, and it is the feeling state that helps us remember the story’s facts.

One Berkeley study found that the brain produces the neurochemical oxytocin—sometimes referred to as “the love hormone”—when people watch or hear a moving story. Oxytocin creates feelings of empathy and compassion, and higher hormone levels are shown to produce generosity and trust [2]. 

Not all stories have the same effect

Not all stories have the same effect. There are many stories we hear that we forget because we have not engaged with them. Two characteristics are needed for a compelling story. Firstly, it must capture and hold our attention, and secondly, it must transport us into the world of the characters [3].

Stories must capture and hold our attention

For stories to be compelling, they must capture our attention. Scientists often compare attention to a spotlight [4]. It has a narrow focus, and it takes energy. This means that if a story doesn’t hold our attention or “grab our interest”, our attention will move to something more interesting.

The stories that capture our attention have four themes within the story.

●    Conflict: a crisis or tension point that may change the course of the character’s path.

●    Rising action: the lead-up to the climax.

●    Climax: the defeat, rebirth, or aha moment; the inception of something new.

●    Falling action: also called dénouement or resolution [5].

These four elements are known as the dramatic arc. In the plot, there is an increase in tension as the character must face difficulties and conflicts. This leads to a climax where the actor must find resources within themselves or around them to resolve the crisis and bring about change.

Stories must transport us into the character’s world

Having captured our attention, effective stories must hold our attention long enough to enable us to resonate emotionally with the character’s experiences. This is termed “transportation” [6]. For example, we may be watching a film we know is fictional, but we begin to experience the emotions of the characters. We feel the same fear and horror the characters are going through. This is one of the reasons many people enjoy horror movies. These movies activate people’s fear and dread and, at the same time, provide a resolution to that fear.

How does all this work with brands?

It is easy to think that our brand story is outside these basic compelling storytelling principles. We may not have any point of tension or dramatic arc that we can create. Or, we are starting our story with what we want to sell.

In creating brand stories, it is essential to remember the following points:

●      Start with the desire to connect rather than sell. Remember, before you are a brand, you are a person, like your customers. Like your customers, you want to connect to stories that move you, inspire you or provide you with a solution to a problem you are experiencing.  Your brand story should reflect the desire to connect with people, first and foremost.

●      The challenge of the dramatic arc. It is easy to become caught up in the question, “What is the conflict our brand solves”. However, sometimes, the conflict isn’t a conflict. This sounds like a contradiction; however, remember, we don’t always want to live resolving conflicts. Sometimes we want to feel good about things. Sometimes we want to feel relaxed. The dramatic arc can be about how your brand allows people to enjoy those positive moments and times in their lives. Stories that create positivity feed into the oxytocin the brain is already producing with the story, heightening the impact.

●      The power of consistency and repetition. Consistency and repetition will create the environment for ‘transportation’ to occur. Clients will begin to resonate with the brand story when there is consistency and repetition.

As brands, we must understand the principles of compelling storytelling if we want the story of our brand to be compelling. The more we know the psychology of storytelling, the more effective we will be in telling our brand’s story.

^[1] https://greatergood.berkeley.edu/article/item  (Web view)

^[2] ibid

^[3] https://www.shopify.com/blog/brand  (Web view)

^[4] https://greatergood.berkeley.edu/article/item  (Web view)

[1] https://www.shopify.com/blog/brand  

[2]  https://www.shopify.com/blog/brand  

[3] https://greatergood.berkeley.edu/article/item 

[4] ibid

[5] https://www.shopify.com/blog/brand 

[6] https://greatergood.berkeley.edu/article/item 

Many not-for-profits are struggling to survive in an environment that is rapidly changing. Some of these challenges were discussed in a previous article. To adapt and remain viable in this changing environment, organisations are considering developing a profit-for-purpose model.

The profit-for-purpose model, also known as social enterprises or social businesses, is where an organisation aims to generate profits while simultaneously pursuing a social or environmental mission. The profit generated through the social enterprise or business provides an independent stream of income that provides the stability for the organisation to make a social impact. The challenge with being dependent on government funding is that when the political context changes, it impacts the funding. The consequence is a lack of long-term stability in program delivery that is required to really make a change in communities and the lives of people.

What are the key characteristics of profit-for-purpose organisations? 

There are six key characteristics of profit-for-purpose organisations.

1. Social or Environmental Mission

Profit-for-Purpose organisations have a clearly defined social or environmental purpose, such as addressing poverty, improving education, promoting environmental sustainability, or supporting community development.

2. Financial Sustainability

Profit-for-purpose organisations aim to create profits through the sale of goods or services, donations, grants, or a combination of these revenue streams. The purpose of being financially sustainable is to have the stability to make an ongoing impact in the area of their social or environmental mission.

3. Re-investing Profits

Rather than distributing profits to shareholders or owners, profit for purpose organisations reinvest a substantial portion of their profits back into the organisation to further advance their social or environmental mission.

4. Ethical Business Practices

What is meant by this, is that profit-for-purpose organisations prioritize ethical and responsible business practices. They will embrace principles such as fair trade, sustainable sourcing, transparent supply chains, and fair treatment of employees.

5. Measuring the social and environmental impact of the services provided by the organisation

Profit for purpose organisations place an emphasis on measuring and evaluating their social or environmental impact. They use metrics and indicators to assess the effectiveness of their initiatives and demonstrate accountability to their stakeholders.

 6. Hybrid legal structures

Profit for purpose organizations can adopt various legal structures depending on the country and jurisdiction. Examples include B Corporations (B Corps), social enterprises, community interest companies (CICs), and benefit corporations, among others.

A B Corp is a company that has voluntarily met the highest standards for social and environmental performance. These standards are intentionally set high and cover a company’s impact in key areas, including Governance, Workers, Community, Environment, and Customers. To receive the B Corp certification, the organisation must meet stringent requirements, including completing a comprehensive assessment of their company’s impacts on all stakeholders, and having their assessment verified by B Lab, the nonprofit behind the B Corp certification.

Given these characteristics, what are the main differences between not-for-profit and profit for purpose organisations.

What are the differences between not-for-profit and profit-for-purpose organisations?

There are several differences between both types of entities that must be considered.

The different emphasis in Mission

The mission for most not-for-profit organisations is to address specific social or environmental needs, and any surplus funds are reinvested back into their programs and activities.

Profit-for-purpose organisations have a dual mission. To generate profits and to create a positive social or environmental impact. The consequence of this dual mission is that business activities are aligned with a specific social cause or mission.

The different sources of funding

Not-for-profit organisations rely on a mix of funding sources, such as donations, grants, fundraising events, and government funding, to sustain their operations. As mentioned above, any profits are reinvested in program delivery.

Profit-for-purpose organisations generate revenue through their products or services, often in a market-driven manner. They may reinvest a portion of their profits into furthering their social objectives or contribute a percentage of their revenue to specific causes.

Different Legal statuses between both types of organisations

Not-for-profit organisations are registered as non-profit entities and are governed by specific regulations and laws. Whereas profit-for-purpose organisations can be structured as various legal entities, including for-profit companies, social enterprises, or benefit corporations, depending on the jurisdiction.

Governance and ownership between the two types of organisations

Not-for-profit organisations are typically governed by a board of directors who oversee the organisation’s activities and ensure adherence to its mission and legal obligations.

Within Profit-for-Purpose organisations, there can be shareholders who hold equity in the organisation and prioritise both the financial returns and the social or environmental impact of the business.

Things to think through when considering transforming not-for-profit organisations into profit-for-purpose entities

By blending business principles with a focus on social or environmental impact, profit for purpose organisations create sustainable and scalable solutions to societal challenges. This makes the profit-for purpose structure very appealing to many not-for-profit organisations.

However, to make this transformation, there are several important things to consider, including the following three.

The importance of having a clear revenue generation strategy

Not-for-profit organisations typically rely on donations, grants, and fundraising efforts to sustain their operations. To become profit-for-purpose, it is crucial to develop a clear revenue generation strategy. This involves identifying potential sources of income that align with your organisation’s mission and activities. For example, revenue streams such as fee-based services, product sales, partnerships with businesses, or social enterprise initiatives could be considered. It is essential to analyse the market and consider the organisation’s strengths to determine viable revenue sources that support the organisation’s purpose.

Implement effective business planning

Shifting from a not-for-profit to a profit-for-purpose model requires careful planning and strategic decision-making. This includes, developing a comprehensive business plan that outlines the organisation’s mission, objectives, target market, products or services, competitive advantage, marketing strategy, and financial projections. This plan should also consider factors like pricing, cost structure, scalability, and risk management. The business plan serves as a roadmap for the organisation’s transition and provides a framework for making informed business decisions.

Build strong governance and financial management within the organisation

Effective governance and financial management are crucial for any organisation’s success, especially when transitioning to a profit-for-purpose model. It is crucial to strengthen the organisation’s governance structure by establishing a board of directors with diverse expertise and a shared vision for the organisation. Equally important is ensuring transparency, accountability, and sound decision-making processes are in place; including robust financial management systems, accurate bookkeeping, budgeting, and financial reporting.

Having strong governance and financial management enables the organisation to monitor and track its financial health, make informed decisions, and demonstrate accountability.

If a decision is made to transition from a not-for-profit to a profit-for-purpose model careful consideration of legal and regulatory requirements, as well as potential implications for tax-exempt status and donor relationships must be made. It is advisable to consult with legal and financial professionals who specialize in non-profit organisations to ensure compliance and navigate the transition successfully.

Not-for-profit organisations and profit-for-purpose organisations are both types of entities that pursue social or environmental goals. However, there are differences in their structures, legal status, and approaches to generating revenue.

In summary, not-for-profit organisations primarily focus on their mission and rely on external funding sources, while profit-for-purpose organisations aim to generate profits while also pursuing social or environmental goals. Given the challenges faced by many not-for-profit organisations, it may be time to consider alternative structures that provide more sustainability to enable entities to achieve their social and environmental goals.

Given the potential economic advantage of digital identities and the need to protect them against identity theft, how can digital identities be managed?

Are curators taking over from influencers as the next thing in social media and branding?

In January, we wrote about the ongoing influence of influencers in 2023. In that article, we stated,

“In the last three years, the number of Google searches for “influencer marketing” has increased by 1500%. This shows that influencer marketing continues to have opportunities and will continue to play an essential role in marketing as brands balance the need to survive the economic downturn rising interest rates and build and retain trust and improve collaboration.”

Six months later, we are witnessing the rise of curators. Brands will continue to use Influencers in their marketing and campaigns; however, as the role of Curators becomes more recognised, brands will have another option to market and promote their products, particularly to aspirational consumers.

Consumer Culture and Aspirational Consumers

To understand consumer psychology, it is essential to understand aspirational consumers.

Aspirational consumers are those consumers who strive for more in life. They enjoy pushing themselves to learn new skills and tend to be career-oriented and opportunistic, and they are looking for brands that can help them become more successful.  Aspirational consumers makeup about 39% of all consumers and hence are a crucial audience for brands to consider in their marketing strategy.

For aspirational consumers, it isn’t about having the money to buy things but having the knowledge and taste to know what to buy. The product is more than the product. It is a vehicle for self-expression, identity, and social status. In this context, knowledge, judgement, and taste are valuable [1], and this is where the role of curators becomes essential.

Curators play a significant role because they act as tastemakers, trendsetters, and experts who help consumers navigate the overwhelming abundance of choices in the marketplace, particularly in areas such as fashion, lifestyle, art, and home decor.

These curators often have a distinct aesthetic or expertise and use their platforms to showcase products that align with their vision or cater to a specific lifestyle. By curating products and presenting them in an appealing way, curators provide consumers with a more focused and personalised shopping experience.

They also create a narrative around the products they showcase, highlighting their unique features, quality, and value. This storytelling aspect enhances the desirability of the products and fuels the aspiration to own them.

What is the difference between Curators and Influencers?

While there can be some overlap between curators and influencers, they are quite distinct.

Curators

Historically, a curator was a person who was responsible for selecting, organising, and presenting collections of items, often in the context of museums, art galleries, libraries, or online platforms. They are experts in their respective fields and possess knowledge and understanding of art, history, culture, or other specialised areas. They research, acquire, preserve, and interpret objects, artworks, or information to create meaningful exhibitions or collections. Their goal is to provide an engaging and informative experience for visitors or users, helping them appreciate and understand the curated materials.

This concept of curator has seeped into the aspirational economy. They have become influential figures in shaping consumer aspirations and the act of buying things by leveraging their expertise, storytelling skills, and platforms to create desire, offer personalised experiences, and guide consumers in their purchasing decisions.

Influencers

An influencer is a person who has gained a significant following and influence on social media platforms or other digital channels. They typically focus on creating and sharing content related to specific topics such as fashion, beauty, travel, fitness, technology, or lifestyle.

Influencers often have expertise or a strong interest in their niche and use their personal brand to engage and connect with their audience. They aim to inspire, inform, or entertain their followers through content and may collaborate with brands for sponsored posts or endorsements. Influencers typically have a direct relationship with their audience and can have a considerable impact on consumer behaviour and trends.

In summary, an influencer primarily operates within social media, creating and sharing content to engage and influence their audience, often related to lifestyle, fashion, or specific interest areas. Whereas a curator is an expert who selects and organises items, information or products in a way that establishes them as tastemakers, trendsetters, and experts who help consumers navigate the overwhelming abundance of choices in the marketplace.

The Importance of Curators for Consumers

While both curators and influencers have their roles, the importance of each depends on factors such as the nature of the content, the target audience, and the platform being used. However, in recent years, there has been a growing recognition of the value of curators, particularly in fields where expertise and trust are crucial. Curators provide a curated experience, filtering out noise and presenting high-quality, relevant content. This can be especially important in domains where accuracy, reliability, and in-depth knowledge are paramount.

While influencers have gained significant attention and have been highly influential in shaping consumer trends and promoting products or services on social media, there has also been some scepticism and a growing demand for authenticity and transparency in influencer marketing.

As a result, of the scepticism and ethical concerns around practices used by some Influencers, some consumers have started to seek out trusted curators who provide unbiased recommendations and a deeper understanding of the subject matter. This has made the role of curators on social media more important.

Unlike influencers, curators often choose to remain anonyomous to boost their credibility. They are also not after the sheer reach and volume of followers: in their niches. It is the quality of followers that count. By influencing quality followers, curators shape culture by becoming a  source of inspiration for broader trends [2].

Ultimately, the importance of curators and influencers is not mutually exclusive. They serve different functions and cater to different needs. While influencers often excel at promoting products and engaging with a broader audience, curators offer specialised knowledge, expert guidance, and a curated experience. The relative importance of curators and influencers will likely continue to evolve as audience preferences and the dynamics of online content consumption change over time.

Starting points for becoming a curator

When a brand is considering becoming a curator, it is essential to consider the following four points [3].

Define the brand’s business objective

Decide what curating will achieve for the brand. Curation can retain an audience and attract new ones that have yet to consider a brand. It can attract a collaborator or start a brand partnership. It can increase product value and protect pricing. Hence it is essential to be clear about what becoming a curator will achieve that is different to what the brand already achieves.

Define the point of view and the story the brand will tell (to achieve the brand objective)

It is important to ground curation in one of the following:

• Values
• Knowledge and expertise
• Culturual moment; or
• Story

When a brand has decided what the curation will be based on, it is essential to clearly define a filter that distinguishes the things and behaviours the brand focuses on. Decide and specify what makes the brand’s curation distinct and what is the unique aspect of its experience.

Define how the story will be conveyed (the strategy)

Identify the sources of the material (products, videos, memes, references, images) for the brand’s curation. Define the sub-themes or sub-categories that enforce a more comprehensive narrative. Organise them according to the brand’s filter. Remember that every item must tell the same story as the entire narrative. 

Execute the Strategy

Define when and how often the brand will share and how your selection will nurture and create that unique and selective experience for the brand’s community.

Curators will become more critical for brands, particularly in marketing to aspirational consumers. However, becoming a successful curator takes time and effort. Consistency, quality, and engagement are vital to establishing a brand’s credibility and attracting an audience that values the brand’s curated content.

When was the last time you reviewed your organic strategy?

The SEO landscape is ever-evolving due to the ongoing changes by Google, the impact of AI and the increasing use of voice searching technology. Google’s algorithm constantly evolves, with updates occurring up to 600 times a year [1]. As a result of these changes, organisations that want to ensure they have a strong, effective online presence must review their SEO strategies.

In this article, we consider four areas that are essential to building a strong SEO strategy in 2023.

The Impact of voice search technology and how it changes the use of language for seo

Amazon’s Alexa, Apple’s Siri and Google Assistant voice searches are now utilised daily by a large percentage of the population. There are also appliances such as Google Home, Amazon Echo and Apple Homepad which are also driving the increasing use of voice search technology [2].

The impact of voice search technology has seen the rise of conversational queries rather than typed search queries. 

What does this mean for seo?

SEO must be optimised for voice search. Voice search focuses on natural language processing (NLP) which is different to typing a search query.

Google has launched LaMDA to understand natural language better.  LaMDA (Language Model for Dialogue Applications) is a machine-learning model designed to understand dialogue better and deliver more efficient results. As LaMDA becomes more proficient, the emphasis will continue to switch to voice search rather than typed search queries.

How to optimise for voice search

Organisations can optimise their SEO for voice search in the following ways.

• Targeting phrasing: For example, a customer may type “best hiking boot brand” but verbally search “what’s the best hiking boot brand?” Optimising for these verbal searches is a great way to target conversational keywords.
• Keeping answers short: If you optimise for conversational keywords, it is essential to keep your answers concise to deliver helpful information quickly.
• Considering the vernacular: Different countries and different states within countries use specific phrases to describe objects or places. Knowing the vernacular words can help you optimise for more conversational keywords [3]. 

The increasing use of ai

The increasing acceptance and use of AI (Artificial Intelligence) and its impact on SEO are associated with the rising use of voice search technologies.

Search engines such as Google rely on sophisticated algorithms. AI-powered algorithms can improve search engines’ algorithms, making search results more accurate, personalised, and efficient. As AI improves and becomes more mainstream, search engines will likely adopt similar technologies, resulting in a more accurate understanding of user queries and better search results [4].

Consequently, organisations need to consider how they use AI as part of their SEO strategy. To refuse to consider using AI will ultimately negatively impact the organisation’s online presence.

Video marketing

Consumers are increasingly using videos to help them make purchasing decisions, and Google is also rolling out features to help users find information faster in videos [5]. These features include:

• Clip markup – enabling companies to highlight critical points in their video so users can go straight to those parts. YouTube also provides an autocomplete feature that provides an easy way to find video keywords.
• Seek Markup – this tells Google how your URL structure works, which enables Google to display critical moments of your video immediately.

With the increasing use of videos, they become an essential component of an organisation’s SEO strategy to increase its market presence.

Since users spend 88% more time on pages with videos, incorporating videos in the content can boost engagement, rankings, and traffic. It is also essential if using clip markup or seek markup to use keyword-rich markups [6]. 

This brings us to the third area to build a strong SEO strategy in 2023.

The Importance of Keywords

The purpose of keyword research has changed in recent times. It used to be that keyword research was done for a website to ensure it appeared first in the search results. However, this is no longer the primary objective as SERPs (Search Engine Results Pages) are often taken over by adverts and snippets from other articles that are thought to be more relevant to the searcher. For this reason, keywords are now being optimised for SERP marketing [7].

What this means is that keywords are related to clusters of topics or phrases that are similar. The advantage of this is that by linking to similar keywords, the subject the reader is interested in is expanded, providing more context and value. This is a more holistic approach to SEO where content is created not just to rank but also to cover relevant subtopics.

The shift from keywords to the idea of the searched phrases and cluster topics provides more value to the person. It also means focusing on the user’s intent and considering “questions people also asked” around the topic.

User intent can generally be broken down into four areas:

• Navigational – This refers to when someone is trying to visit a specific website online.
• Informational – These searches are done to find an answer to a specific question or to find information about a particular topic.
• Transactional – This occurs when someone is looking to make an online purchase; and
• Commercial – When people intend to make a purchase but need more time or want to make an informed decision.

The increasing importance of expertise

The final area is the importance of expertise. In other words, showing first-hand experience with your content is essential.

Search engines want to provide users with the most valuable content to answer their queries and provide the necessary solutions. The best way to do this is by showing users content from creators that have relevant, real-world experience on the topic [9].

This means the content that is shared across your social channels must be within the area of your organisation or business expertise and practice.

It also means the content that you provide must give value to people.  In the early days of SEO, content would be written to ensure ranking rather than providing value. Using such a strategy in 2023, where the only intent is to achieve ranking, is no longer effective. The advances made by search engines and the use of voice searches and AI mean that SEO strategies must be aimed at providing value to clients and potential customers.

It is about providing a great user experience and demonstrating first-hand knowledge of the topic.

Google’s e-a-t is now e-e-a-t

Google has produced E-A-T guidelines that will continue to be used to determine higher Google search rankings. E-A-T was introduced as a document for human search quality raters to assess the quality of web pages. 

The acronym stands for expertise, authoritativeness, and trustworthiness. To this has been added E, which is experience [10]. Google wants to see pages that demonstrate an experience with the product or service they provide or sell rather than just generic information.

Using these E-E-A-T guidelines enables pages to achieve a higher ranking.

SEO is not static. It is continually evolving and changing in response to changing technologies and updates by search engines. This means organisations need to constantly review and revise their SEO strategy to ensure they adapt to these changes and maintain their profile and relevance to clients and users of their product.