MAXIMIZING NEW MEDIA
CREDIT CARD STARTUP, PLASTC, FAILS TO LAUNCH
What happens when a good idea, turned into a viable concept, comes crashing down? That’s what the backers of the Plastc smart credit card are trying to figure out. In October 2014, Plastc was unveiled to the world. It was a progressive approach to credit card technology. The device — little more than an actual credit card — was designed to replace all of your existing cards, up to 20 different accounts. The single card held all of the information of the rest of your cards and you could switch between cards as needed. With a built-in e-ink screen, you could see which card was active and swipe. The technology came with a price: $155. But that price didn’t get you a Plastc card right away. In October 2014, the card was still a concept that needed crowdfunded support. Turning to social media, Plastc quickly found that support. About 80,000 people pledged $155 for the chance to get a card the following summer, in 2015. In April 2017, Plastc filed for bankruptcy and closed its doors for good. After years of promises and after raising $9 million, Plastc delivered nothing. The creators behind Plastc say things simply fell apart behind the scenes. The company had expected another $3.5 million in funding from various sources by February 2017, but that didn’t happen. Then they said they were on the cusp of another $6.75 million from an additional source. That too, didn’t happen. Apparently, the $9 million raised from those initial 80,000 backers was not enough to get the smart credit card off the ground. The card hadn’t even gone into production. None of those 80,000 people had anything to show for their contribution. Many backers demanded a refund, but since Plastc revealed they were completely out of money, the chance of getting that refund was slim. Interestingly enough, Plastc wasn’t the first smart credit card company to fail. Two other companies, Coin and Swyp, attempted similar concepts, but like Plastc, they left their customers and supporters with little or nothing. Now, Plastc is little more than a name on long list of crowdfunding failures. The company’s bankruptcy highlights the risk in crowdfunding, whether it’s done independently or through a third-party, such as Kickstarter or Indiegogo. If a company goes under or a product never materializes, backers are basically left with no recourse. Call it another case of caveat emptor .
Strengthen Your LinkedIn Profile to Win New Business
LinkedIn has over 467 million members, and seemingly infinite ways to connect. But if your profile isn’t strong or engaging, you’re missing out on many opportunities to be seen and heard. Just like any social network, the goal of LinkedIn is to connect like-minded individuals. In a professional space, the ability to network with people in your industry from the comfort of your own desk is invaluable to your potential reach. Last year, LinkedIn revealed new enhancements to their publishing platform that can help ensure your work gets you noticed by the right audience. One of these new enhancements was the addition of images. Everyone knows that an image is worth a thousand words, and LinkedIn revealed that articles including images generate 94 percent more total views. Given this, LinkedIn made it easier than ever to enhance publisher posts. All you have to do is click on the “Add Multimedia” icon and you can drag and drop images, videos, add links, and embed content inside your blog posts. Another new addition to LinkedIn is the use of hashtags. Hashtags are often misused and misunderstood, but when used correctly, they can help people discover your content. LinkedIn’s new enhancements make it necessary to get these right if you want the right people to view your content. LinkedIn has made it clear that posts including hashtags are easier to access and index inside the platform’s search engine. To discover the best hashtags for your content, think of words or phrases that your clients would search in Google to get more information about your topics. One of the most useful additions to LinkedIn is the creation of enhanced reader analytics. With these reports, you can see exactly who has liked and commented on your posts, what company they work for, their job title, where they live, and exactly how they found your post. To use the feature, tap “Me” and you will find real-time information on the posts you’ve shared and the articles you have written. In today’s business world, it’s important to have a strong online presence. With these tips, you can begin to strengthen your LinkedIn profile, and in turn, win new business.
2 • www.insurica.com • Specialized Insurance Programs For Specialized Industries.
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