Social Media, Mobile, BYOD, The Internet of Things, Cloud Computing, “Web 2.0” and Open Platform Marketplaces, Curated Commerce, Big Data and Machine Learning… Technological change is getting faster every year. We have all read about the importance of embracing innovation to seize new market opportunities (and avoid the risk of disruptive innovators). However, is it just important to use new technologies in ways that that highlight your strengths and reason for existence. If you do not you risk wasting time and money on fads, hype and distraction.
Our team has been fortunate enough to be involved with implementing nearly every major technological change of the last two decades to help businesses and government agencies do “what they do best” faster, more efficiently and with broader reach:
- Social Media. Yes, “Likes” and “Followers” are nice. What is even nicer is using social media to increasing lead volume and conversion, lowering the cost to test product ideas, driving targeted advertising based on user-generated content and conversation-driven page views and reducing customer costs
- Mobile. Creating a good mobile experience is fine. What is better is using mobile to capture new customer leads, drive context-oriented upsell, and to open entire new sales channels that did not exist before (e.g., inspiration- and impulse-driven sales, UGC-driven “breaking new” and ad sales increases)
- BYOD. We all know BYOD is a potential way to reduce IT capital costs and increase employee productivity. However, it can be used to open up entirely new channels for enterprise software (ones not only with disruptively low provisioning and support costs; but also new revenue channels thanks to App Stores)
- Cloud Computing | IaaS | SaaS | PaaS | etc. Yes, Cloud and *-as-a-Service Computing has provided more agility and simplified scalability. However, when combined with the Enterprise and Platform Marketplaces it can allow you to create SaaS-based services without the need for large, expensive support teams.
- Big Data and Machine Learning. These are great for prediction and fraud detection. However, when combined more broadly with real-time applications, business processes and operations excellence, it can be used to optimize things supply chain operations, customer lifetime value, and affiliate marketing profitability.
- The Internet of Things. This “up and coming” innovation” for 2014 is more than just SciFi movie tech. It is now used for fraud prevention, supply chain optimization, in-store support and upsell and medicine.
Our blogs share some of our thoughts on use technology and innovation for completive advantage. However, we cannot openly share our most innovative ideas, as these are now trade secrets of many companies we have worked with. We would be happy to help you use these and other new technologies to improve your business.