The year 2020 has not been right for any business unless one chooses to create a meaningful difference. This is possible for startups as the use of technology through 2019 and startups are changing the game already. Especially on the technology front, startups are leveraging the latest technologies as entrepreneurs brew ideas that matter the most in today’s time.
Most businesses are now opting to go digital by taking their sales online. Things can go wrong when you are on a new platform. When you expose your brand online to millions of users, it is best to have a brand registration to ensure safety. Once done, you can penetrate deeper into the online market by leveraging the right tools and technology.
Companies are no longer vacuumed by constantly changing business trends. And because technology is evolving faster than thought, business people have little time to blink because these external factors tremendously affect the market scenario.
This is how entrepreneurs leverage technology to accelerate development in any vertical way possible.
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AR and VR Technology
Finally, the time has come for next-generation technology. Startups will consciously utilize technology tools accessible to visual and enhanced reality. Thinking of big companies, IKEA conducted an experiment on Virtual Reality gaming technology a few years ago that help shoppers make smart choices.
And since most shopping now happens over eCommerce platforms due to the COVID-19 pandemic, the time has come for these businesses to use sensory marketing. Now, Amazon is offering users to visualize the furniture in their own space or lounge.
The key is to appeal to multiple user senses by creating virtual tours to offline stores with the power to let customers use features like 360-degree displays, 3D shopping, etc. These technologies are the way forward for traditional businesses with the time demanding rapid dynamism with the ability to scale up in the right direction.
Immersive, Intelligent Marketing
The forward to drive more sales is not hard selling but smart marketing. Customers these days are sure of what they want and that’s why businesses should consider intelligent technologies. This will help your brand to communicate effectively. It requires the inclusion of new native intelligence layers for AI and machine learning for end-users. It gives marketers more time to engage with users more effectively.
There is, of course, a significant change to intuitive smart marketing, where marketers identify the frame, and AI does the rest of the job. The conventional marketing approach, which communicates a single thought to a broader audience, has become obsolete. This means you need to find a more personalized solution to your niche when spreading quickly.
Moving Beyond Office Space
The co-working room has been one of the most recent developments. With technology progressing, startups are looking for more automated technology and fewer people for repetitive routine tasks. Even sole proprietors are leveraging co-working spaces to cut corners and still remain professional.
This is an approach to create efficiencies by engaging more and more people in concentrated, humane activities. Workplaces may see lower headcount in the future, especially with IT giants offering work from home to many of its employees.
Not only does this limit staff at work, but it also encourages startups to spend less time at their offices and to take on other positions. Some creative startups smash the tradition of ‘one place’ by bringing people from different teams under one roof. They can do so by creating a network of spaces available to employees, which rely on their fundamental role – brainstorming, training in sales teams, presentation of customers, or work from home or a coffee.
Think about how Uber and Spotify have revolutionized the way people listen and ride to music. Similarly, the pandemic changes the concept of ‘office,’ and we will see more powerful connectivity tools to better collaboration work.
Leveraging on Blockchain & AI
Although Blockchain saw B2B last year, generating all buzz but no significant transactions, the changes are bound to happen. Cash flow, payments, and finance are the critical fields of influence that startups look to tackle Blockchain. The new technology would allow new companies to share their value on a scale and lead to a shift beyond the current volatility of the hour to the hour.
The coming years will demand the need for more robust and parallel currency. Startups should now look to monitor the introduction of design and modifications in Ethereum & Bitcoin to address scalability challenges. Blockchain will all outdo itself beyond Bitcoin to help emerging economies enter various markets to fields.
Fintech companies expect streamlined solutions to be available globally once the global businesses adjust to the new normal and make profitable choices.
Conclusion
The COVID-19 pandemic has brought its share of boons and banes, but there is no escaping technology for startups. The new world will be different from the world we were in before the pandemic, with many business changes becoming mandatory to run smoothly. The key lies in how startups can navigate the right fit for their offerings and ways to connect to customers for meaningful conversions in the coming times.
