Innovation Archives - Page 3 of 4

Know what makes Customer’s Loyal to a Brand

February 8, 2021February 8, 2021 admin

Yes, this is the biggest question for every business person 7 out of 10 that “what makes customer’s loyal to a brand”, so there are many reasons why businesses are encouraged to make customer’s loyalty towards a brand. On the basis of these business analyst did a big research and bring a term “customer loyalty program” and really it’s a price effective way to win your customer’s trust and grow your business day by day. This customer loyalty program can helps to address a number of your most vital concerns about growing your business. It’s really so effective that it can work as a part of your marketing strategy campaign also.

Explore the key benefits of getting a customer loyalty program:

Boosts Revenues.

A loyalty program helps in increasing your profits. Loyal customers trust your business, which inspires them to spend more. consistent with research, once you increase customer retention by just 5%, your revenues can increase by as low as 25% and by as high as 100%. The program helps in giving incentives to customers that they really desire. This helps in bringing them back and spending more on your products or services.

No More price war

The Best customer loyalty program assist you move before the competition. It does away with the necessity to compete on price. It adds great value to your product/service that keeps drawing new and existing customers to your brand. once you reward someone, you’re connecting with them at an emotional level. This puts price almost out of the equation. This further helps your customers see your brand as something quite an area to shop for products/services.

Draw New Customers

Your rewards program can do far more than retaining your existing customers. you’ll also use it to draw in new customers. Offering discounts and points for signing-up can draw the eye to new customers, encouraging them to joining your list . If your program is straightforward and allows easier access to rewards, more customers would want to shop for from your brand. Besides, word-of-mouth publicity by your existing customers can further help promote your program to new customers.

Build Brand Advocates

The Best customer loyalty programs can turn your customers in to brand advocates. you’ll be getting far more for the discount , compared to not having such a program. many purchasers wish to not only get value for his or her money, they also wish to help others make the proper buying decisions. consistent with surveys, 7 in 10 millennials want to assist their family and friends to form smart buying decisions.

Save pile.
It is documented that acquiring new customers is an upscale and time-consuming process. it’s less expensive to get business from existing customers than checking out and drawing new customers. Loyalty program makes it possible for you to draw in new customers without having to spend big on the method . Studies show that retaining an existing customer costs only a fraction of what it costs to accumulate a replacement customer.

Access Valuable Data.
The benefits of getting a loyalty program go even further. It also allows you to collect data which will be wont to personalize the customer experience. a part of the method requires getting data from customers once they sign-up. This data are often used for personalizing their buying experience and in creating highly effective marketing campaigns. The result’s building a robust bond together with your customers that keep bringing them back for more.

A Loyalty Program Software helps in making your customers feel appreciated. They desire being valued by your brand. whenever you surprise them with rewards, you’re giving them a much bigger reason to stay with you and promote your brand. It helps retain customers, increase customer lifetime value, draws in new customers, improves communication, and helps build relationships at personal levels that go an extended way. Thus, there are many reasons to make a loyalty program.

Growth Hacking – The lifeline for startups & small Businesses

December 28, 2020January 3, 2021 admin

Everyone wants growth in their area, business, life, and the things they love the most, and hacking is always used in bad terms like someone hacked my computer, someone hacked my bank account etc, so till the time you all thinking that hacking is bad, but really it is bad because it hacked the business from the existing marketing and give to you, exactly this is the growth hacking, you are going the hack the growth instead of achieving, so this is a faster way of success without harming anyone in their knowledge, the best example, for now, is Jio Phone, it hacked the growth of all the network services providers.

The term “growth hacking” is really not very new, it is very old and was coined in 2010 by Mr. Sean Ellis, the founder, and CEO of Growth Hackers, and in his words, the goal of growth hacking strategies is generally to acquire as many users or customers as possible while spending as little time, efforts and money as possible.

Who are the Growth Hackers?

The growth hackers are those who use innovative creativity with their low-cost strategies to help startups, new or established businesses to acquire and retain their customers. A few scholars sometimes say that growth hackers are the best growth marketers because the term hacker is always used in a bad way, but growth hackers are not simply marketers. Anyone involved in a product or service, including product managers and engineers, can be a growth hacker and in this way, the hacker is giving us the meaning of expert.

Growth hackers must be obsessive, curious, and analytical

Growth hackers focus solely on strategies related to growing the business.
They hypothesize, prioritize, and test innovative growth strategies.
They analyze and test to see what’s working.
The ideal growth hacker or expert knows how to set growths according to priorities like, identify channels for customer acquisition, measure success, and scale growth.

How Growth Hacking strategy Works

This is one of the biggest questions that how exactly does growth hacking work? For each company or business, it’s about figuring out why you want growth and looking for ways to make that happen on purpose.

Many startups or small scale businesses use Dave McClure’s “pirate funnel” as a recipe for growth. These are a super combination of acquisition, activation, retention, referral, and revenue and in short AARRR. Others include raising awareness as a key part of growth hacking. Either way, the point is to get traffic and visitors, turn visitors into users, and retain those users as happy customers.

Activities we do under Growth Hacking Strategies
Most growth hacking strategies fall into three main areas:

Content marketing
Product Marketing
Advertising

Depending on the tactics used, content marketing can be a low-cost way to get the word out about your product. Typical content marketing activities include:

Starting a blog and creating valuable, shareable content
Guest blogging
Creating social media content
Writing ebooks and white papers
Podcasting
Running webinars
Running contests and giveaways
Getting bloggers to review your product
Joining relevant forums, groups, and subreddits
Influencer marketing
Using email marketing to build a stronger connection with users
Improving content visibility with SEO
Getting listed in relevant marketplaces and sites, such as Product Hunt

Product marketing includes techniques for making your product more appealing and building the user base. They include:

Leveraging the fear of missing out (FOMO) by using an invite-only signup system Gamifying the user onboarding process to make it more enjoyable, and offering rewards Offering incentives for referrals that benefit both the referrer and the new user Affiliate marketing, which will also use content marketing growth tactics Growth hackers or experts can also use social advertising and pay per click (PPC) advertising to Promote your Business, contact us today to know more about growth planning for your business.

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Digital Marketing Predictions in 2021 for Business Growth

December 23, 2020December 23, 2020 admin

Yogi Berra gave a quote that “The future ain’t what it used to be.” and do you know who is Mr Yogi Berra, he is a late hall of fame player of baseball, we are also doing the same and thinking the same, and based on so many research, we can conclude.

As a market researcher, we always do some predictions of the technology, user behavior, and products demands, so we have some predictions for the future, growth, and scope of Digital Marketing in the Year 2021 and beyond, I collected these from some thoughtful business leaders I polled, plus a few of mine own prognostications.

Here are the first predictions from Elena Filimonova, a senior vice president of global marketing of the 7,500-person, New York City (USA) based IT services providing firm:

A new term that gets stabilized is “Influencers Marketing” so the Importance of Influencers Will Increase a lot. “various B2C brands now dependent on influencers as a way to engage with online customers,” said Filimonova. “While a few B2B brands have jumped on this bandwagon, B2B marketers should focus on some different type of influencer in the year 2021: like Their immediate network. Partners, customers, and employees will become a more essential part of a brand’s marketing strategy, and as technology buyers, they are becoming more reliant on their peer network for the solution of knowledge.

The next term that will emerge is the review, so the Peer Reviews will Be more Important. “A recent consumer survey report from Edelman found that around 77% of consumers surveyed say that peer reviews are either deal-breakers or deciding factors in their brand-buying decisions,” Filimonova says. “As B2B marketers look to mirror the B2C approach in 2021 and attract high-paying enterprise clients, trust becomes increasingly important – from both the peer-to-peer network perspective and the growing influencer demographic.”

After a long term of lockdown, people are started trusting the online communities, so online reviews Will Become Even More Important as of now. The B2B technology community trusts one source of information over anything else – their peers. “A recent study found that around 60% of enterprise technology buyers use online reviews to identify any kind of solutions,” Filimonova has said. “Many B2B technology buyers rely on internal forums that are moderated by users, allowing them to ask questions and share real-life feedback. To encourage your customers to participate, ask them for feedback at the point they are most compelled to leave it.”

Somehow term positive becomes negative, but still we say to Marketers that they Should Focus On The Positive. “Entice employee stakeholders to share their experiences on peer-to-peer platforms,” Filmonova told. “Educate your team members on the best practices for using social platforms. Encourage them to connect on social – the more they see what their colleagues are doing, the more likely they are to join the conversation and improve the user experience.”

Now, we have to talk over the inside betterment but in this External Influencers Won’t Be Forgotten, as they still have worth. “But B2B companies should re-evaluate how they are engaging with them,” says Filimonova. “Just like with employees, give influencers content they want to be associated with. This may require asking them to comment on the results of proprietary industry surveys your company conducted. Another way is to invite the influencer to join a webinar panel to create a relevant audience. Influencers are looking for brands to help boost their professional profiles among the audiences who can buy our products.”

We try our best to share a few predictions from the growth of digital marketing by the expert and speaker Lisa Apolinski, she is the owner of 3 Dog Write in Phoenix, she wrote a wonderful book “Weathering the Digital Storm” and Recently she explains some digital marketing 2021 forecasts in a seminar and here are three major points she made:

Keep a keen Looks at your Marketing Budgets. In a survey, Apolinski said that “With an impending economic recession and political uncertainty, companies will look at how they are spending their dollars on service-related items,”. “Because of this, companies will be more critical and discerning of what service agencies are brought in, including talking to past clients and looking at consistent thought leadership.”

Bring trust in between your new and old clients. “Potential customers are becoming more distrustful of what they read in your digital space, and rightly so,” says Apolinski. “Companies need to show consistent and truthful communication. If there is any misalignment or inconsistency (or something that seems off), prospects will discover it and make sure others know too.”

Always Be Humble and polite. “Communication that brings in compassion and humility will be able to cut through the digital noise to touch and inspire audiences will boost your business,” says Apolinski.

Here are some marketing predictions that concluded by me and my team:

Client Attraction is a Chain Reaction. Let me explain this to you, For attracting high-paying clients, marketers will quit looking for the silver bullet and focus on a whole marketing approach. The focus will be on the articulation of outcomes, results, and alignment. Articulation is everything because with the help of this you can share your views with clients and client can express their requirements with you, so this a chain reaction that once started will never end.

Budgets should be More Prioritized. The year 2020 is about to go and the new year 2021 is about to come, although the economic growth that was predicted for years 2020 has been delayed a lot, digital marketing can change the market growth, as people love to come online, buy and sale online.

The Digital Marketing Future in 2021 will reward those who seize thevv day. Nobody can control the future of anyone but we can try to make it better with our best efforts. Get the Best Digital Marketing Services in India.

Benefits of Self Kiosks machine – Hospitality Industry Kiosks

October 12, 2020October 13, 2020 admin

The self kiosks or the ‘self serve hotel kiosks’ are a recent phenomenon in the hospitality industry. Hotels across the world are taking up this new practice, clearly explaining its numerous benefits. These kiosks are used to check the guests in and out of the hotel and issue key cards. These intelligent kiosks have eased client management in the hospitality industry.

Benefits of self kiosks machine

Here is a quick guide to the several benefits of these automated kiosk machines –

No long queues

With the self-serving kiosks in place, the hotel authorities, its staff, and the guests can bid a final adieu to long queues in front of the reception center. Now with several kiosks in the position multiple guests can start filling up their details in these kiosks to get an entry and a room in the hotel at the earliest. This is how a crowd is distributed throughout the reception lobby and other points in the hotel area and the process of checking in the guests becomes faster and easier.

Maximum staff utilization

Now that the hotel and the reception staff are no longer responsible for the check-in of the guests the manpower of the hotels can be better utilized. The same manpower can be used for carrying out other functions that can add to the customer delight of the guests. This is how the optimum utilization of manpower is possible.

Better data management

When the guests feed in their own data, like their names, mobile numbers, email ids, address, date of birth, health issues, etc chances of making mistakes in recording the data is reduced to a large extent. This can help the management and the other staff of the hotel in their official work in times to come.

Multiple data

The system of feeding in information through the self-serving kiosks is rather discreet and prompt. Data assimilated as per the designed system that the management or the serving personnel can access quickly through their systems. Through this process of generating data, the hotel management and staff can serve their clients better. Even the guests feel comfortable providing the information silently.

Flexibility and convenience for guests

Research and survey reveal that these kiosks have increased the convenience and the flexibility index of not just the hotel staff but also the guests. Now the guests can easily access these kiosks in any part of the hotel and they need not go to the reception lobby every time for updated information. This self-service system adds to the freedom and privacy of the guests.

Can promote other services

The hotel management can offer various service programs in their portfolio for an improved experience of their guests. The hotel management can give complete information of all the other services that the guests can avail during their stay in the hotel. This is a strategically indirect but effective way of promoting the other services of the hotel and improves its business volume.

Personalization

Guests on their arrival are informed about designed packages they can avail in terms of the services available and the prices they need to pay. Often the guests do not agree with all the elements of the package. A kiosk can be a perfect solution to this problem. Through these kiosks now the guests can select all the services and the amenities they are looking for and can pay just for them.

Kiosks have proven to be a huge boon for the hotels and the hospitality industry. These amazing machines embedded with artificial intelligence and data management system have been making the hospitality industry more dynamic and customer-oriented. In near future the use of self kiosks machine will be indispensable in this industry.

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IoT Innovations in Medicine

October 5, 2020October 14, 2020 admin

Internet of Things (IoT) has penetrated almost every industry, and healthcare is not an exception. The last decade has witnessed a huge impact in the healthcare domain, thanks to IoT. With healthcare technologies gaining sophistication, patients can benefit from highly tailored attention concerning their healthcare requirements. With IoT, you have smart devices to remind you of your calorie count, appointments, exercise hours, variations in blood pressure and much more.

Let’s explore how IoT has been leveraging the medicine and IoT Solution for Healthcare Industry over the last few years.

IoT for Physicians

IoT enables wearables, and other equipment for home monitoring would allow physicians to track the health of patients with greater efficiency. They can even remotely track whether or not the patients are adhering to their treatment plans. In case they require any medical attention on an immediate basis, the physicians get to know and do the needful.

Besides, healthcare professionals can be more watchful with IoT devices, and this protective approach works well for patients. Similarly, they collect data using these devices and choose the right process of treatment to obtain the desired outcomes.

IoT for hospitals

In hospitals, sensors are integrated with IoT devices to keep a track on of medical equipment like defibrillators, wheelchairs, oxygen pumps and nebulizers in real-time. Besides, the authorities can analyze the deployment of healthcare staff in real-time at various locations.

Specific smart devices, enabled by IoT, can take care of infections. In the process, it can prevent patients from getting affected by the same.

Besides, IoT devices help in managing assets, such as environmental monitoring and pharmacy inventory control. Again, these smart devices have other functions in hospitals like temperature and humidity control, checking the temperature in refrigerators, etc.

Detecting medical errors

Inevitable medical mistakes are preventable, but unfortunately, they account for thousands of deaths each year. Deploying IoT helps in preventing these errors to a significant extent. These days, healthcare professionals use wristbands connected to IoT to verify the identity of patients. In the process, they eliminate the chances of mix-ups. Besides, these smart devices help medical staff in checking allergies and other medical data.

While recording data, machines do not make mistakes in typing, thereby eliminating human flaws. This makes IoT a valuable mechanism to check and sort patient data.

Managing operational costs

Over the years, healthcare is becoming expensive. The most strategic approach to control costs is to enhance efficiency and maintain quality. Using IoT, hospitals can automate their workflow and make significant savings in terms of money and time.

With IoT devices, it becomes easier and faster for transferring data, as compared to the manual efforts. The staff has a lesser amount of responsibilities to shoulder, which reduces the operational expenses. Besides, the risk of time-consuming and costly data entry errors is also low.

Apart from the benefits presented here, IoT has been playing a crucial role in controlling diseases. Cancer, arthritis, and obesity, for instance, affect millions of individuals across the globe each year. IoT serves as tools for disease management, through which patients and doctors can continuously monitor temperature, blood pressure, cholesterol, etc. Eventually, it primarily serves as a preventive mechanism while dealing with chronic diseases. The coming years are likely to witness far more sophistication in the healthcare industry with intelligent systems.

QR Code for business marketing

October 22, 2019October 22, 2019 admin

The World is going digital with each passing day and technology is becoming exponentially more important to simplify life on our digital planet. We are producing 2.5 quintillion bytes of data each day by 3.7 billion humans accessing internet. We have produced 90% of the data in the world over last two years and this pace is accelerating by each passing day.

This huge volume of data leads to user fatigue every time users are searching or accessing a useful information. Users often input via keyboard a website URL, a Code or text, messages, contact details etc. as a digital planet citizen in private or corporate life. Keyboard input often leads to following challenges for users –

Typing errors (more often with key boards getting shorter with display size of mobile devices)
Mental fatigue (remembering and typing)
Longer cycle times of input and transaction completion

Above challenges are further aggravated by Impatience and immediate response expectation habits of our digital generations checking their phones 150 times a day (every 5 minutes during day).

Do we have a better technological solution to avoid user attempts via keyboard?

Yes, you would have seen black & white colour barcode on newspapers, websites, magazines etc. QR code or Quick Response code is answer to all user problems for enabling just in time access to any URL, contact card,

This evolution started in year 1948, when Bernard Silver and Norman Joseph created first barcode (or unidirectional barcode) to cut human data entry errors and relieve the workers from pain of data entry. By late 1970s, Barcode were necessary part of inventory tracking especially in retail and automobile manufacturing. Unidirectional barcodes could store information up to 20 characters depending on length of barcode. This approach was further formalised via Universal Product Code (UPC) in 1980s. UPC offered benefit of managing common products easily to retailers. There were some limitations with unidirectional barcode technology like reading of barcode at a particular angle, maximum character storage limit, character type limit (alphanumeric only), requirement of a minimum space on label and vulnerability to dirt.

In 1987, David Allais developed first 2 D barcode (Code 49), a predecessor to popular PDF417. Soon market was flooded with proprietary 2 D codes as these codes were compact and store more data in multiple data formats.

Quest for quicker and error free assembly lines motivated Masahiro Hara from Denso Wave (a sister concern of Toyota) to develop first QR code as we know today. Denso wave made its patented QR code research and specifications public so that anyone was free to use it. This democratic decision helped in public use of QR code at a mass level. Initial use cases of QR code were automobile, pharmaceutical and retail industry as a replacement of prevalent unidirectional codes for inventory tracking due to advantages like higher storage capacity (7,089 numerical characters or 2,953 alphanumeric characters), compact size and space requirement, convenience of scanning (at any angle) and better readability despite wearing and damage ( up to 30% damage).

Businesses across the globe have started leveraging QR code technology to efficiently manage product (and service) life cycle beyond the supply chain till repeat purchase and end of product life.

Some of interesting use cases into customer loyalty and rewards program offer following benefits to business by utilizing and integrating versatile QR technology with business apps –

Capture performance of media promotions and campaigns based on actual sales
Capture customer information and preferences for products and services
Effectively segment customer based on preferences and design product and promotions
Enhance customer loyalty for business brand over competitors
Maximize customer visits and average spend per visit
Capture customer feedback about products and services

QR code technology enhances traditional approaches by better, authentic and real fact based data capturing in terms of data points like location, sales / service delivery centre, product information, customer information and multiple other points of business interest resulting in better rewards for customer and businesses.

Business team can further utilize customer and usage data can be further analyzed using IT applications for monitoring program performance against business KPIs in real time. Useful insights like unique customer identification, coupon redemption, product lifting performance, campaign performance, and average discount metrics. This business critical information can be very simply collected without any significant investments in additional hardware, complicated POS integrations but offers good customer and product insights to business team. This definitely helps in building better recall and relationship between consumers and marketers.

Some of the prominent business cases have been run across globe by global giants like DANONE in SPAIN by linking customer earnings up to $ 50 per month as discount coupons via scanning of QR code printed on products using customer mobile phone. McDonalds and Dominos have also launched innovative campaigns with IT solution partners to surprise customers by utilizing customer geo-locations.

Technical products have also leveraged QR code features of extensive data capturing for registration and warranty verification related processes. OEMs have started adding a QR code image to product and receipts and end user can easily register a product by scanning QR code image from his smart phone without going through extensive information (model number, serial number, manufacturing dates etc.) at product registration forms. QR code technology based approach has helped in improving data accuracy, compliance of product registration and reduces product support cost. Same QR code is scanned by service engineers at the time of product service and warranty support to end customers for capturing product related data. This data is used by engineering team to analyze product failure and support related calls for further improving products and end user experience.

Business across the globe has demonstrated confidence in QR code technology, acceptance and partner ecosystem. Organizations are engaging with right QR code technology partners for capturing data beyond inventory and addressing business challenges and reaping better benefits in asset tracking, social media, marketing & promotion, warranty services areas.

It’s a race every business is joining and early adopters have started reaping benefits due to low overhead cost, quick turnaround and direct impact on top and bottom line of business.

Sources – https://www.forbes.com/sites/bernardmarr/2018/05/21/how-much-data-do-we-create-every-day-the-mind-blowing-stats-everyone-should-read/#1ea24bf460ba

https://www.inc.com/john-brandon/science-says-this-is-the-reason-millennials-check-their-phones-150-times-per-day.html

Category: Innovation