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Moblty sponsors Cosmetic Executive Women (CEW)

NEW YORKSept. 13, 2018 /PRNewswire/ — The leadership of the beauty industry will join Cosmetic Executive Women on Friday, September 21 to celebrate the accomplishments of six women and one man with the 2018 CEW Achiever Awards.

Now in its 43rd year, the Awards honor women who have reached the highest levels of the beauty industry. They also serve as inspiration to CEW’s now 10,000-plus members worldwide.

The 2018 Achiever Award honorees are:

  • Danyelle Boilard PaulEVP & General Manager, Groupe Clarins USAwho has overseen its portfolio of skincare, cosmetics and fragrance brands in the U.S. and Canada since 2002;
  • Lynn EmmoloChief Global Officer, Rodan + Fields, who has spent 30 years leading beauty brands like L’Oréal, Avon and Rodan + Fields, into new markets internationally;
  • Tiffany Masterson, Founder & Chief Creative Officer, Drunk Elephant, whose passion for learning about beauty products’ composition inspired the development of trending indie products that improve skin health;
  • Vasiliki Petrou, Global EVP Prestige, Personal Care, Unilever, who has led socially conscious campaigns across Unilever’s Prestige Personal Care portfolio for more than two decades; and
  • Tara Simon, SVP, Merchandising, Ulta Beauty, who channeled a love for the industry into her work at Ulta Beauty and a commitment to empowering other women.

In addition, CEW will present the Scent Innovator Award to Shoval Shavit Shapiro, Founder and Chief Creative, Amkiri,for her creation of a long-lasting fragrance ‘ink’ that is applied to the skin as body art.

And, for the first time, CEW will recognize the contributions of a male leader’s advancement of women. The inaugural MEN-tor Award will be presented to Marc Rey, President and CEO, Shiseido Americas, for his role in advocating for and increasing the presence of female leaders.

“CEW was founded with a singular vision of helping women in the beauty industry achieve, advance and inspire,” says CEW President Carlotta Jacobson. “We’re delighted to continue to honor our members’ accomplishments and contributions through our Achiever Awards. This month we reached a significant milestone – 10,000 members internationally – whom we will continue to empower and support as they pursue leadership roles in the beauty community.”

In keeping with that commitment, CEW has invited the winners of its 2018 Top Talent Awards to share the dais at the Achiever Awards luncheon. The Top Talent Awards, which were presented in April, recognize the accomplishments of women at mid-career.

The 2018 Top Talent Award recipients are: Brooke Banwart, Vice President/DMM, Fragrance, Sephora; Doreen Bucher, Vice President, Global Marketing, Fine Fragrance, Symrise; Barbara Green, Head of Research & Development, NeoStrata Company Inc. (J&J); Molly Landman, Global Brand Director, Love Beauty & Planet and ApotheCARE Essentials, Unilever; Rukeyser Thompson, Senior Manager & Section Head, P&G Hair Research & Development, P&G; Ada Lien, Senior Vice President, Global Marketing, La Mer; and Sophie Lilly, Vice President, Global Business Development, Urban Decay (L’Oréal).

The 2018 CEW Achiever Awards will be presented at CEW’s annual Achiever Awards luncheon, Friday, September 21 at The New York Hilton Midtown. Tickets are available on the CEW website at www.cew.org.

The event is sponsored by Meredith, IFF, Arcade Beauty, 24 Seven, Beauty IQ, Nordstrom Beauty, Wells Fargo Securities, Sephora, Tarte, IT Cosmetics, Anisa, Fusion PKG, Beauty Inc, Coty, Array, Stila, WWD, Consultancy Media, Badger & Winters, Moblty, Urban Warrior, Suite K, Walgreens and Kaplow Communications.

PetCoach partners with Moblty on first store in San Marcos

SAN MARCOS, Calif. — Petco launched its first PetCoach store in San Marcos.

PetCoach aims to provide pet parents the complete pet car experience.

“Pet parents tell us they want expert advice they can trust and easy, seamless access to everything they need to take the best possible care of the pets they love,” said Petco CEO Ron Coughlin, who took the helm on June 18. “With PetCoach, we’re reinventing the idea of a traditional ‘pet store’ by providing complete care experiences – from grooming, training and daycare to full-service veterinary care – that simply can’t be delivered by mail or by a mass retailer.”

The store was previously an online-only concept.

Original article

CVS partners with Moblty on new store concept

Article source

Dive Brief:

  • CVS Pharmacy is making changes to its beauty offerings at some stores, testing out a store-within-a-store concept called BeautyIRL at four locations, in Connecticut, Florida and Massachusetts, a company spokesperson confirmed to Retail Dive.
  • The BeautyIRL format is almost double the size of a usual beauty section at CVS, and will also feature 30 new brands, an accessories shop, a bath cart, a Test-and-Play Hygiene Bar with testers and brand boutiques, a Mini Must-Have boutique for customers to collect their own miniature beauty products, a #TrendingNow wall showcasing trendy brands and in-store beauty services through a partnership with Glamsquad, according to the company.
  • In a similar vein to the services found at Ulta and Sephora, CVS’s BeautyIRL format will offer hair services, makeup services, lash application, face and eye masks, and manicures, in partnership with Glamsquad. CVS plans to expand the concept in 2019 and begin offering BeautyIRL products online then as well.

Dive Insight:

The local drugstore isn’t the first place consumers go for cosmetics, but this latest move from CVS seems to be an attempt to change that. With retailers like Sephora and Ulta introducing experiential store concepts and offering services and lessons in stores, the competition in the sector is high and CVS’s beauty store concept seems to feed directly off of what has made those specialty retailers so popular.

The retailer has made efforts to transform its beauty offerings in the past as well, including adding more premium brands last year, and launching the “Beauty in Real Life” campaign this April, which focused on more natural marketing and unaltered imagery. That campaign was an attempt by the retailer to align itself with “an authentic and more realistic image of beauty for its customers,” according to a press release at the time. But the pharmacy retailer’s most recent quarter revealed that its front-store sales continue to suffer, including in the beauty department.

Part of that is likely due to the larger shift CVS has made, away from retail and closer to healthcare, most noticeably through its planned acquisition of Aetna. The introduction of fresh store concepts, however, seems to display a re-commitment to the beauty market, much along the same lines as Walgreens’ recent focus on enhanced beauty services at its stores.

CVS is not alone in trying to up its game in the beauty segment, though. Along with other drugstore retailers, department stores are also reimagining their beauty departments in light of the popularity of specialty stores. Both Macy’s and Saks Fifth Avenue announced changes to their beauty offerings in May, opting for more technology and services in their stores, a trend that mirrors the destination-driven experience of Sephora and Ulta.

Questions to Ask When Looking at Your SEO and Social Media Strategy

Expanding your digital strategy is an important part of growing your business. SEO and Social Media are only a few of the tools you need to achieve digital growth

 

Article By Adam Bornstein via Entrepreneur 

 

“Q: When looking at our marketing spend, what’s more important for digital growth: SEO or social media?
— Chris G., Minnesota

Before consulting, I made my living as an editor in media. Each job I held taught me the same lesson: Digital growth is not about manipulating tools like search engine optimization (SEO) and social media. It’s about using them to reach customers. Then it’s your job to create a sustainable relationship off of those platforms.

My next gig was as at a health website that had mastered SEO. Higher search results led to more traffic, which led to higher advertising revenue. Then came the infamous Google “Panda update,” a change to its algorithm that penalized content trying to game SEO by using hacks like keyword stuffing. Those changes sent us into a tailspin. We had to review the site’s 500,000-plus articles, remove more than 150,000, and reinvent the editorial approach. It took 18 months to fully recover.

Chris, I don’t share these stories to suggest that social media and SEO aren’t important. They are. But dependency on any platform you can’t control is dangerous.

I like to look at businesses in pieces, so let’s consider your marketing needs. What is going to help customer acquisition and retention? What is the cost and ROI? SEO and social media are effective components of an acquisition strategy, and social media can also help with retention. Rather than thinking about which is better, think about how you can use each to support your core business.

For SEO, how are people discovering you? What questions would they ask Google that could lead them to you? Let’s say you own a car dealership and want to own “best car dealership in Minnesota.” Yes, you could go to Google Adwords and spend money on a search term. But buying your way into SEO popularity can be expensive. (And most consumers ignore obvious ads.)

Instead, consider what questions potential customers may have about, say, a specific car you sell. Win traffic by answering those questions on your site. We’ve seen clients earn hundreds of thousands of dollars of free search engine marketing by creating and owning valuable content. Google wants to reward that value, so if you build something that actually helps the end user, you will — over time — climb the ranks on the search engine’s results pages. And it will be more than worth what it cost to create that content.

Social media, on the other hand, is driven by engagement. You need to have an emotional pulse on what people care about — enough to make them spread your brand’s message. Likes, shares and comments are the by-products of an ongoing conversation. Those virtual interactions can result in real-life customers and help keep them. 

The bottom line, Chris, is that no one tool will help you thrive. Google and Facebook can help. Email lists, apps and member communities can, too — and they’re even better, because you control them in a way you’ll never control giant platforms. But any great business must build an ecosystem that routinely engages its customers — and that should be your main focus.”

Facebook’s ad interactions drop 20% – here’s everything you need to know

Not getting the ROI you want out of Facebook? We’ve heard it all before. At Moblty, we ensure ROI for all your ads & content at point of purchase!

 

Article by Simon Kemp via TNW

“As I mentioned in my last post, the data in my new 2018 Q3 Global Digital Statshot – produced in partnership with We Are Social and Hootsuite – shows that clicks on Facebook advertising have tumbled over the past three months.

The precipitous 20 percent drop in ad interactions has important consequences for marketers all over the world, so I’ll use this post to dig deeper into the data behind the headlines, and share some ideas for reducing the potential impact of this worrying trend.

What’s happened?

Do you want to be a cryptocurrency millionaire?

Don’t get your hopes up.

Facebook’s own Insights tool shows that the typical global user now clicks on a median of eight adverts per month, down from the 10 that the company was reporting back in April.

It’s important to stress that while these numbers reveal a clear change in global user behavior, the drop in ad clicks may not correlate to a drop in Facebook advertising performance, nor to any change in Facebook’s advertising revenues (we’ll get more clarity on that in Facebook’s upcoming earnings announcement, which is scheduled for later today).

Also, as I noted in my analysis of our broader Q3 report, there may be many different reasons for this drop in interaction, and it’s difficult to determine whether this is just a temporary fluctuation, or part of a prolonged downward trend.

The only way to understand that would be to dig deeper into the data over time, so that’s exactly what I’ve started to do in this article, and my accompanying report, Facebook Engagement Insights & Benchmarks.

You’ll find a full breakdown of Facebook interactions for 225 individual countries and territories around the world in the SlideShare embed below (click here if that’s not working for you), but read on below for my comprehensive analysis of what all these numbers mean.

One more thing: at over 2,000 words, this post is a bit of a beast, so you might want to grab a coffee before you get stuck in…

Many users don’t seem to ‘like’ Facebook Pages

The most dramatic change in this set of numbers relates to the number of times that people click on Facebook adverts, but there’s another finding that has even greater significance for marketers.

Facebook’s Insights data shows that the typical global user has only ever ‘liked’ a median of one Facebook Page in all the time that they’ve been on Facebook.

Let’s put that startling finding in context.

The latest data show that well over two billion people use Facebook every month, with two-thirds of that audience using the platform every single day.

What’s more, Facebook’s users spend a combined total of almost one billion hours on the platform every day. That equates to around 40 million years of human time spent on Facebook this year alone.

However, in the eleven years since Facebook launched Pages, the platform’s users have liked a median of just one Page each.

A global story

Before I analyzed the country-by-country data, I wondered whether this finding might vary by country, but Facebook’s latest data shows that users in 179 countries out of 225 have only ever liked a median of one Page each.

That means that a significant number of users in those countries have never liked even one single Page on Facebook.

Users in 45 countries have liked a median of two Pages each, with users in just one country – Malta – having liked a median of three Pages each (for context, Malta has around 360,000 active Facebook users, or 0.01 percent of Facebook’s total user base).

Remember that these are lifetime likes, too – not likes per month.

What’s more, when we look at the kinds of Pages that people ‘like,’ it quickly becomes clear that consumer brand Pages aren’t people’s first choice for that once-in-a-lifetime click.

So, what do these numbers tell us?

Rethinking Facebook strategies

In simple terms, trying to grow a Facebook ‘fanbase’ probably isn’t the best use of your marketing budget.

That doesn’t mean that Facebook isn’t a good place for brand marketing, though.

Indeed, used correctly, Facebook activities can be a highly efficient and effective part of a brand’s marketing mix.

However, investing money, time, and effort in trying to increase your Facebook Page ‘likes’ probably won’t deliver the ROI you’re looking for, for two key reasons.

Firstly, as I noted above, most people only ever like one Page, and that ‘like’ is far more likely to go to a celebrity or a sports team than it is to go to a shampoo brand or a government department.

Secondly, and perhaps more importantly, even if you do succeed in growing a sizeable Facebook Page fanbase, you’ll still need to pay to reach most of your ‘fans’ every time you want to reach them.

The latest data from social listening company Locowise suggest that the average Facebook Page post reaches just 6.4 percent of its Page’s fans organically (i.e. without paid support), meaning that just 1 in 15 of your Page’s fans will see any given post unless you promote it using paid media.

It’s worth noting that these are average figures for a wide variety of Page types and sizes around the world though, and – based on the data we’ve seen – larger brand Pages will likely see even lower averages.

Based on that, you might be wondering why brands would ever try to build a Facebook fanbase in the first place.

And you’ve have a point; I ask the same question too.

The current situation seems a bit like buying a cup of coffee for $5, but then being charged $1 again for 14 out of every 15 sips you take from that cup.

But the irony is that you don’t need to buy the cup of coffee in the first place.

Facebook’s ‘promoted posts’ products allow advertisers to reach audiences on the platform regardless of whether those people have ‘liked’ the brand’s Page.

So, it’s probably time to ask yourself whether it’s really worth going to the effort and cost of building a fanbase in the first place.

Key takeaway: if you need to reach a sizeable audience on Facebook on a regular basis, go straight for the efficiency play, and use promoted posts instead of trying to build your Page’s fanbase.

No comment?

Analyzing the median number of times that people comment on Facebook posts each month may offer deeper insights into users’ ongoing levels of engagement with the platform as a whole.

It’s worth highlighting that Facebook reports a single figure for the median number of comments its users make per month, and doesn’t offer a breakdown by content format (videos, photos, links, etc.).

However, the numbers are still quite revealing.

At a global level, the typical Facebook user posts a median of just four comments per month, with women twice as likely to post a comment compared to men (six for women, versus three for men).

In general, older users are more likely to post comments than younger users, with women in their 40s and 50s the most active ‘commenters.’

Once again, islands in the North Atlantic top the country rankings, with users in Greenland posting a median of 18 comments on Facebook each month. The Faroe Islands comes second, with local users making a median of 13 comments each month.

At the other end of the spectrum, users in 14 countries post a median of just one comment each per month, with Japan, South Korea, and Russia all included in this group.

However, Facebook’s isn’t the top social platform in any of those three countries, so it may be that users in these countries use Facebook for different purposes and in different ways compared to the typical global Facebook user.

Key takeaway: with the typical Facebook user only posting a median of four comments per month, it’s unrealistic to expect significant numbers of your Page’s fans to comment on your posts. You’ll need to look for more inspiring ways to engage your audiences in meaningful conversation if driving comments is an important part of your strategy.

If sharing is caring… people don’t seem to care

Talking of expectations, brands are even less likely to inspire people to re-share their Page’s posts.

At a global level, the typical Facebook user re-shares a median of just one post per month, meaning that a significant number of users never re-share any posts at all.

The data show that women in their 40s and 50s are slightly more likely to re-post content, but even amongst this group, the median number of re-shares is still only two per month.

Key takeaway: if you want people to re-share your content, you’re going to need to publish something pretty extraordinary. In reality, if you’re hoping to increase the reach of your Page’s content, paid post promotion is a more reliable approach compared to relying on your audience to re-share your Page’s posts.

But how do you make sure that your promoted posts are as efficient and effective as possible?

The good news is that the data offer some insights there, too.

Facebook ads: diminishing returns?

As I noted above, the number of times that users click on Facebook ads has dropped dramatically in the past three months, from a median of ten adverts clicked per month in mid-April, to a median of just eight adverts clicked per month by mid-July 2018.

That still translates into literally billions of clicks every month though, and Facebook advertising still offers huge potential for marketers who understand their brand’s audience.

So what do you need to know about Facebook ad clicks?

The first thing to note is that women click on Facebook adverts more frequently than men do.

The typical female user clicks on a median ten Facebook adverts per month, compared to a median of just seven for male users.

However, it’s worth highlighting that women represent a smaller share of Facebook’s total audience compared to men.

The latest data suggest that just 43 percent of the platform’s total audience self-identifies as female, compared to 57 percent who identify as male [note: for safety reasons, Facebook doesn’t offer advertising insights for users who identify as a gender other than binary ‘male’ or ‘female’].

Ad clicks vary considerably by age too, with users between the ages of 35 and 54 clicking on the greatest number of adverts each month.

Conversely, users at the two ends of the age spectrum are less likely to click on Facebook ads, with users over the age of 65 the least likely to click on adverts.

These age findings hold true across male and female users.

Ad engagement also varies meaningfully between countries, with users in countries across Africa and developing Asia much less likely to click on adverts compared to the typical global user.

However, it’s unclear whether this difference is due to individual perceptions of advertising, or whether there are simply fewer companies advertising on Facebook in these regions, resulting in fewer adverts for users to click on.

At the other end of the scale, The Faroe Islands tops the ranking of countries by median number of ads clicked each month, with the typical user in the North-Atlantic archipelago clicking on a median of 24 Facebook adverts per month.

It’s worth noting that The Faroe Islands also tops the rankings for the median number of Facebook posts liked per month, together with neighboring Iceland.

Users in both North European countries ‘like’ a median of 24 posts per month in the past 30 days, with these likes spread across organic and promoted content.

Key takeaway: with the typical Facebook user clicking on fewer and fewer ads, brands might want to rethink their strategies and measures of success.

Critically, if you post content to Facebook every day, you’ll probably struggle to drive meaningful click rates on each individual post.

My advice: adopt a ‘varied diet’ approach to Facebook advertising, with some posts designed to increase basic awareness or salience without any need for interaction, and only a handful of carefully crafted posts designed to elicit more direct engagement (e.g. a click).

But how can you maximise the likelihood that people will actually click on your content when you need them to, without resorting to tricks or clickbait?

The case for video 

Facebook doesn’t offer insights into post performance by content format, but fortunately, Locowise does.

The social listening company’s latest findings suggest that less than four percent of the people who see the average Facebook post interact with it in some way.

It’s important to stress that these are average figures for posts from a wide range of Page types and sizes, from the world’s top celebrity pages, through all kinds of brand pages, and all the way down to small, highly engaged community pages.

As a result, you may see quite different results on your own Page. Moreover, engagement rates vary considerably by content format.

Video seems to perform best, with an average of six percent of users who see a video post in their Facebook Newsfeed going on to click, like, comment on, or re-share the post.

Photos are the second-most engaging content format, although the latest data suggests that less than five percent of those users who see a photo post in their Newsfeed will go on to engage with it.

At the other end of the spectrum, ‘status’ (i.e. text-only) updates deliver the lowest levels of average engagement, and Pages can expect just 1 in 45 of those people who see a status update in their Newsfeed to engage with it in any way.

Key takeaway: if you’re going to invest in paid promotion of Facebook content, you’ll likely see a better return on that media spend if you invest in quality video content.

My advice: focus on creating video content that adds genuine value to your audience – based on their interests and needs – rather than continuously pumping out brand-centric ‘propaganda’.

Digging deeper: the country-level data

The full Facebook Engagement Insights & Benchmarks report contains local data for 225 countries and territories around the world, so marketers should dig into the specific findings for their focus market(s) before making any decisions based on the global figures outlined above.

You’ll find the full report in the SlideShare embed at the top of this post, but click here if you’d like to download a PDF of the report for easy reference.”

These Are the 3 Keys to Digital Transformation Success

“So what does it take to create and drive digital transformation as a tool for competitive advantage?”

By July 9, 2018 via Adweek

“While larger conversations around digital transformation have been in the consciousness of business and IT leaders for some time, there is a common misconception about adoption of digital transformation and associated company success—at best, it is a mixed bag.

A recent survey mounted by my firm, Alfresco Software, suggests that leading industries have self-identified as being most likely to benefit from digital transformation initiatives, including retail (30 percent), banking (24 percent), healthcare (24 percent), and manufacturing (18 percent). But—and this is significant—the fear and perceived threat of losing out to a more sophisticated competitor is palpable, with some 87 percent of respondents believing that their business results will be impacted by a competitor.

So what does it take to create and drive transformation as a tool for competitive advantage?

Our survey research boils it down to three key factors: culture, people and technology.

1. Culture

First, transformation is enabled and driven by company culture. Top-down, companies must re-imagine themselves as more than just makers or sellers of “widgets” or services. Instead, the widget-maker, seller or service provider must look at what, when, where and how customers want and need to be served and then envision—with Disney-style imagineering—how they can design the ultimate customer experience and what that looks like.

Customers interact with companies in any number of modalities—for example, a banking consumer looking for a car loan might conduct product research on their smartphone at lunch time, then fill out a contact form to a lender via their work desktop in the afternoon, and log into their home laptop after dinner to check the rates they have been offered.

This multiplatform, multimodality experience across time and location is the new norm, and it means that customer needs must be met in real time to stay competitive and that Digital Customer Experience (DCX) needs to be on point. Companies must “wow,” engage and serve these users in every situation or risk losing them to a more agile competitor.

2. People

Second, address the people. A major takeaway from our research is that the human aspects of implementing digital transformation are very important. Dumping new technology on the staff and proclaiming transformation as “complete” will probably leave workers befuddled and ultimately discouraged—which will drive them straight back to old processes and less-efficient ways of working.

A careful evaluation of employee work habits, patterns of collaboration and company culture are key starting points for the work of transformation.

3. Technology

Somewhat surprisingly, technology comes third. Cloud-based solutions offer speed and financial advantages that traditional, “build it yourself” systems simply cannot match. Today’s agile DevOps culture means that companies really can “imagineer” and release new customer-facing features and functionality—almost continuously—in response to shifting business conditions.

Even our space, information management, has evolved from the “process management, document management, records management and content management” of days gone by to agile, composite, cloud-based platforms that provide dynamic microservices such as process, content and governance services.

These services are cloud native and leverage a microservices-based architecture. Ultimately, information should be provided as a dynamic service that supports the business—giving knowledge workers the most current, legally-compliant and accurate documents and corporate data in the context of their daily job functions.

That ability to deliver information when, where and how it is needed is the cornerstone of serving customers in the era of digital transformation. This sort of innovation and adaptability can now be found across industries that are typically thought of as “traditional.”

For example, companies like Capital One are recasting themselves as digital enterprises, eliminating paper-based processes and leveraging cloud infrastructure to achieve speed, scale and agility in customer interactions. In fact, some 21 percent of our survey respondents said that cloud is critically important, and an overwhelming 95 percent of respondents characterized cloud infrastructure-as-a-service (IaaS) as important to business success.

Traditional, large-scale enterprises are prime targets for digital disruption, and unfortunately those that don’t adapt, do so at their own peril. Our survey data points to true uncertainty among business and IT leadership, who are living in constant fear of being outflanked by more nimble competitors capable of capturing customer attention and thereby hijacking revenue.

That said, a methodical and reasoned approach to digital transformation will help enterprises mitigate risk, better serve customers and drive profitable revenue. By focusing on the “Top Three” basics—culture, people and technology—companies can navigate these uncertain times and, ultimately, prosper.”

Check out how Moblty has been helping companies with their digital transformations here.

Moblty Helps Retailers Transform Everyday Shopping Experience

TRENTON, N.J. (January 24, 2018) – Understanding the needs of retailers to keep pace in a digital age, Livingston-based Moblty has developed what is emerging as a leading shopper marketing software platform, helping businesses digitize their footprint and enhance customers’ shopping experiences.

Through a unique suite of products and services, Moblty enables brands to offer customers digital shopping inside the brick-and-mortar store experience. Among other features, shoppers can use interactive in-store displays to swipe, click, and engage with video, social media and coupons.

The platform also provides retailers with big shopper data and analytics. Moblty Chief Executive Officer Rajesh Saggi explained that clients have noticed that Moblty has led to “bigger basket size, higher dwell time, greater loyalty club sign-up, and better product navigation and cross-channel support.”

Moblty’s clients include high-profile brands across such sectors as beauty, wine and spirits, hospitality, and airport duty-free shops.

“In a short period of time, global companies have adopted Moblty’s platform ,” Saggi said. “As retail continues to re-invent itself, for the purpose of survival, modernization, and digitization, Moblty is the firm to which businesses are turning.”

He credits the State’s Technology Business Tax Certificate Transfer (NOL) Program with helping his business grow. Administered by the New Jersey Economic Development Authority (EDA) and the New Jersey Department of Treasury’s Division of Taxation, this competitive program enables eligible technology and biotechnology companies to sell New Jersey tax losses and/or research and development tax credits to raise cash to finance their growth and operations.

Moblty employee Brenna Stuhler showcasing the giant interactive experience built by Moblty for Altice in the Garden State Plaza, Paramus.

“With funding from the NOL Program, we will be able to hire more people, grow our client base and, in turn, help them draw in additional customers,” Saggi said.

Moblty was one of 39 companies approved to share over $46 million through the program in 2017. This is the first time Moblty is participating in the NOL Program. More than 525 businesses have been approved for awards totaling over $950 million since the program was established in 1999.

“We repeatedly hear from participants what a lifeline the NOL Program is for their companies,” EDA President and Chief Operating Officer Tim Lizura said. “We are excited that Moblty has joined the growing list of businesses benefitting from this program.”

@NJEDATech spoke with Saggi about Moblty’s experience in New Jersey and its plans for the future:

Why did you choose to grow your business in New Jersey?
New Jersey has an amazing pool of technology talent that wants to work in the state, and not commute to New York City. We are a beneficiary of that talent. New Jersey also has a great business climate — the State is very pro-business; it has a great investment climate, and it is home to many of our major clients. Also, from our Livingston headquarters, it is just a short commute to New York City.

How has Moblty most benefitted from the NOL Program?
The NOL program has proven itself to be a perfect non-dilutive mechanism to generate additional working capital to run the and grow the business.

What’s on the horizon for Moblty?
Our goal is to develop a global footprint. We have clients who are taking us to Europe and the Middle East, and want us in China “yesterday.”