5 Technology Building Blocks to Disrupt Your Competition

In the last 18 months, technology as a domain itself has witnessed unprecedented growth. Once stand-alone new ideas and concepts have evolved into “widgetized technology building blocks” that open up tremendous value when applied in a tight combination.

It’s time to start paying attention to how your business can disrupt competition using these state-of-the-art tech capabilities.

Here are 5 key technology building blocks that matter the most in how they shape your customer engagement systems and dramatically scale up business competencies.

1. Mobile

   At one point, Mobile strategy for an organization was just another mechanism through which information was “consumed”. Today, it has become a customer engagement mechanism that enables an “always-on” two way interaction between a business and its customer.Further, it is evolving into a “hub” through which customers’ context can be understood and a business can deliver its products and services within that moment of need – which is what we call serving your customer in their “Mobile Moment”. Read our blog post to know more about how your business can cater to customers in their Mobile Moments.

   Mobile app ecosystem is a ‘pipeline’ through which various bits of ‘value’ can be sent to customers and ‘data’ can be collected back from them for further insights.Click To Tweet

   Wouldn’t you want a well-paved road that leads to your business? You need that road for everything that moves in and out of your business. Well, a mobile app is just that. Here are 7 reasons why your business needs a mobile app.

   Further evolution points to a trend towards “individualization” of app experiences. Here a business can leverage mobile app technology to deliver a “unique and one-off experience” to each customer in how the business services are consumed.

2. Cloud

   Cloud started as a more efficient form of hosting. It is rapidly evolving to become a “connector of disparate islands” of information. It eliminates information silos and connects them to open up new real-time engagement with businesses partners, employees, customer support, and ultimately sales with the end customer.Exploring how to use Cloud technology to connect with customers and enable agility while also collecting granular data for analysis is certainly imperative for the success of your business.

3. Analytics

   The realm of Analytics has constantly been shifting over the years – From simple spreadsheet reports to data warehouses and business intelligence, it has now reached to predictive analytics.Earlier, the high complexity of predictive analytics led to the assumption that it was limited to the Googles and Amazons of the world. But, over time, it has become a lot simpler in that any business can apply the technology and predict outcomes.

   When it comes to Analytics, here is what you need to ponder about – What touch points, statistical data, or customer interaction data do you already have in your business? How could you use this existing data to change the value you bring to your customer? Answering these questions will not only unlock new value but also add new revenue streams for your business.

4. Internet of Things

   Let’s say you have a tangible product you sell to customers. Whether it is a large plastic molding machine or a coffee pot, there are ways to capture data through an array of sensors and create customer experiences that deepen relationships while providing a completely new understanding of the device’s usage.Now is the time to explore what aspects of your business can be enabled to talk to a central hub to open new business models and collect granular data for analysis.

   The data captured opens up new services, new revenue streams with the ability to create sustainable competitive advantages.

5. Beacons

   Beacons are tiny self-contained electronic devices that enable Bluetooth connections within a short radius. Specifically designed Mobile apps can detect the beam and pinpoint the customer’s proximity, context and product preferences so that a business can pointedly serve the customer with high relevancy. Beacons are already providing immense value in domains like retail – They are strategically placed in shopping isles, parking lots, and event exhibits to dramatically change the interaction and engagement levels with customers.Stop and take a look at your business – Think about which of these technologies make sense to your business model and how they can radically change the way you do business and engage with your customers to create long term and meaningful relationships. Here’s how we, at CoStrategix, have used these technology building blocks to solve our clients’ unique problems and helped them disrupt competition.

Watch out for our future blog posts on the latest technologies!