‘Smart’ wearables are hot these days and wearable technology is one of the realisations of the Internet of Things (IoT) where devices ‘speak’ to one another through the Internet to enhance user connectivity. Smartwatches such Pebble, LG, Samsung as well as the much-anticipated Apple Watch let users receive key notifications and perform various other functions directly on the wrist, all without the need to whip out your phone.
For a while now, consumers have been able to monitor their health and fitness levels through pedometers, health monitors and activity trackers and that is set to advance and become increasingly personal. So how could wearable technology be relevant to your business? Here are some ideas:
- An app to let you notify customers directly when their orders are fulfilled?
- Providing real-time alerts and updates to your ground staff through their watches?
- Or pushing customised deals for your customers whenever they visit your store?
If you have not thought about getting on social media, perhaps 2015 is the year to do so. There are more customer segments for SMEs to reach out to with a growing number of social media platforms and its usage. This translates to more opportunities to connect with potential customers wherever they are.
In the running with the big boys like Facebook, Instagram, Twitter and LinkedIn are new players to the social media scene that you can consider:
- Ello, invite-only and in beta since the earlier part of 2014, focuses on the need for user privacy and boasts about never selling users’ information.
- Yik Yak, similar to Twitter but anonymous, is a messaging app that allows people to communicate with others only in their vicinity.
- Tsu, also by invite-only, shares its ad revenue with its users and pays them for actively posting popular content on the platform.
Niche social media sites such as Foodie (Pinterest-styled food platform) and Fitocracy (for fitness fans) are also the way to go for businesses seeking to target their respective markets. Even Facebook is on cue to release a new product, Facebook at Work, for the corporate market.
Whether you’re a B2B or B2C business, it’s important to stay engaged and be in touch with your customers, right where they are these days, online.
Increasingly, businesses have been moving towards web-based solutions, otherwise known as cloud solutions or Software-as-a-Service (SaaS). This is as opposed to buying the traditional “software-in-a-box” which are limited by its on-premise storage space and paying for hardware such as servers to run tools for day-to-day operations.
SaaS solutions offer benefits such as cost savings and scalability in terms of number of users and mobility. Given its “pay-as-you-use” model, businesses can benefit from cloud-based solutions at subscription rates as low as mere dollars each month. In addition, SaaS is looking towards harnessing (valuable) neglected data and data gathered every day from various sources – also known as Big Data – and turning it into something companies can use to boost customer retention and bottom lines.
While they’re not new to the market, the quantity and quality of business SaaS solutions today have improved tremendously with version updates. It’s now much easier to move your operations to the cloud.
These days, CCTVs are not just about surveillance and security. As we move into a new era of technology, all information gathered is gold and video surveillance footage can actually be used as a vital source for data and research.
Businesses in retail and F&B especially can tap on video analytics to monitor buying trends by customers. Services, such as the Singtel M2M Video analysis, allow for both surveillance and video analytics. The intelligent service offers audience profiling which shows the demographics of customers, keeping track of who your consumers really are so that you can formulate strategies for your intended audiences. It can even register emotions, so you know if your customers are happy with your in-store promotions or customer service.
Other benefits of Singtel M2M Video Analytics include crowd density and traffic flow analyses that can tell you which part of your store enjoys the most activity so that you can plan your product placements.
By and large, content has gained more traction in Asia, and more businesses are recognising the value of having a presence online and giving their brand a voice. While content counts, it has to be one with good value – with the majority of its content focused on providing useful information, while introducing snippets of product information.
Essentially, this boosts customer retention and acquisition, drive a website’s SEO and generates more leads. The shift from textual to visual is also becoming more apparent with readers responding more positively to visual-based messaging. With attention span getting shorter these days, videos, visual and short posts are recommended with the increased use of mobile phones to access content on the web, anytime anywhere, on-the-go.
Technology is constantly changing, and more so at an increasingly quick rate. While it’s prudent not to rush into adopting the latest and greatest, the suggestions above are important trends that you might want to consider. The cost of adoption has dropped significantly, making the returns on savings and innovation much more attractive.
Don’t worry about having to do a total revamp to your business processes and strategy all at once. Take baby steps and start implementing changes to your office set-up or your marketing strategies, and increase it over time. You will be required to make iterations to your strategies along the way and it’s a learning process that all businesses go through.