People are fighting the pandemic at a personal and professional front since the onset of 2020. Then things started to look bleak for global businesses from April 2020 when major countries across the globe went under lockdown. The COVID-19 has caught people off-guarded vulnerable to sudden change. The only way to battle it out at the professional front is to have startups leverage the latest technologies to aid entrepreneurs looking to venture out amidst the pandemic-stuck world.
Now the technology is readily available than before and startups can leverage such business service professional who provides services over the internet. This holds if someone is looking for company registration in India and one would not have to run from one place to another and instead get things done in a matter of few clicks. While this year has hit people hard, it has also provided opportunities for emerging entrepreneurs to flourish their business.
Take a quick look at the five modern use cases of technology in businesses and how it helps you achieve success.
1. Tapping on AR and VR
The time is here for next-generation technology. Startups must better exploit available virtual and augmented reality technology tools. Speaking about big companies, IKEA performed a few years ago an experiment on VR gaming technology and now they also have the Virtual Reality Kitchen – a shopping app for VR technology. Such an app allows potential customers to select the best product with a range of IKEA products. All these, without actually visiting a store. Talk about social distancing done right!
New ages Entrepreneurs should seek to adopt technology for the right solutions and look to aid prospective buyers. One can trackback the trends a couple of years back where AR and VR startups across the globe have raised more than $3 trillion (VC) between 2017 and 2018. Even at the user front, the virtual reality users raise to 47% between 2017 and 2018. This sector also witnessed a huge boom that saw many startups taking advantage of such a rise in technology use last year.
2. Relying on customer’s success
Customer satisfaction is the central pillar of all B2B startups. This year we see how startups align their success with the success of customers. Traditional B2B businesses aim to attract new customers by redesigning their logos, launching marketing deals and adding more customers through mass marketing. In doing so, they ignore the possibility of leveraging existing customers’ interest, which is increasing and needs a change. The companies now prioritize a select group of loyal customers instead of pursuing a growing number of customers for small gigs.
For them to scale quickly, they must stop filling a leaky bucket and provide customers with value, redefining their business. Because you have enormous success and goodwill with your customers in running their business.
3. Leveraging on Blockchain & AI
While Blockchain was introduced to B2B last year, it merely created anything more than the hype as it saw no significant transactions. Enter pandemic-hit 2020 and few things are bound to change. Cash flow, payment, and finance are the key impact fields that startups are involved in and Blockchain is now expected to transform the way international businesses are done. This technology enables new companies to share value on a scale and help move beyond the present hour-by-hour uncertainty while providing a reliable medium of exchange for all entities.
Last year was necessary to present us with the track of how Ethereum & Bitcoin make design improvements that can resolve scalability challenges. It also helped to identify are barriers to their generalized acceptance and at present, innovations are going on. Blockchain would soon surpass Bitcoin, helping startup economies enter various markets and fields.
Fintech companies expect to have streamlined solutions worldwide will be available by the end of 2020. The promise of Blockchain can be sufficiently lucrative for a few banks and financial firms. After 2018 the pilot projects have been rounded out by Blockchain and several companies have introduced pilot programs in a variety of sectors, including banking, healthcare and even global logistics. Many businesses also adopted this route to safeguard their finances during the lockdown when more and more people worked from home.
4. Workplace Evolution
Co-workplace is one of the most current phenomena. But with technology advancing, startups are looking for more automation and fewer people to do the tedious, repetitive tasks. Instead, they can offer them remote co-working space as such an approach helps to build efficiency by involving people more and more in targeted functions that require human participation. Workplaces will see lower headcount in the future as more jobs will be done remotely without the need to visit the workplace.
This decreases the number of employees in the workforce and allows startups to spend less time at their desks and engage in other positions. Many creative startups smash the tradition of ‘one spot’ by putting people from various teams under one roof as they build A-team for a startup. They achieve this by creating a network of spaces that employees can access and rely on their fundamental role – Product brainstorming, training for the sales team, customer presentation or work from home or a café where necessary.
5. Intelligent Marketing Technology
One of the most advanced technologies this year is smart marketing as consumers are more perceptive and informed how and when the company communicates. That is why companies that work to create a brand take a thorough approach to marketing technology. And this calls for additional layers of native intelligence to communicate with end-users, AI and machine learning. It gives advertisers the flexibility to interact with the meaningfully with consumers.
Indeed, a broader change to innate smart marketing is possible wherein the marketers have to identify the structure, and AI can do the remainder of the job. The traditional marketer approach in which a single thought is communicated to a broader audience is now obsolete. This means that they will build a more tailored approach to their niche while expanding rapidly.
The opportunities are aplenty and it is just a matter of time that you adopt it. The way ahead of progress will require you to stay on top of the game and miss out on businesses that may jeopardize it completely. If you are already planning to onboard new technology, what is it about? And if you are already using any new technology, what’s it about?