Top Technological Innovations for Business Transformation

Innovation and Technology are key parts of business today. In fact, they both work hand in hand. Here are some technological innovations that made waves in recent times:

Artificial Intelligence (AI)

A lot has been said about Artificial intelligence and its impact on businesses. It has significantly affected and improved the way customers interact with businesses via intelligent websites and chatbots. According to Forbes, 80% of enterprises are now investing or planning to expand in AI platforms.

 

“The largest impacts across all industries—from retail to healthcare, hospitality to finance—are felt when AI improves data security, decision-making, employee output, trainings, speed and accuracy,”

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Maddy Martin, community vice chair and head of growth and education for Smith.AI, said. “With more capable staff, better-qualified sales leads, more efficient issue resolution, and systems that feed actual data back in for future process and product improvements, companies employing AI technologies can use resources with far greater efficiency. Best of all, as investment and competition increase in the AI realm, costs are reduced.”

Ultra-Fast Internet

There is an insatiable appetite for super-fast internet by most individual users of it. This need is even greater for businesses, either big or small. This helps improve business efficiency and provide reliable communication tools for companies that rely on remote workers. To satisfy this need, there has been the invention of 5G, which is exponentially faster than 4G. The effects of this technology, though, are up for debate with some quarters labelling it as dangerous.

Virtual Reality (VR)

While Virtual Reality might be seen as an innovation solely beneficial for gaming and entertainment, it has recently more widespread applications in businesses. According to Flatworld Solutions in an article on “Virtual Reality and Its Impact on Business”, the following are impacts of VR on business:

  • An all-new level of product prototyping
  • Reduced business travel & efficient business meetings
  • E-commerce advertising will see a new side
  • VR can provide competitive advantage to businesses
  • Interviewing candidates will be easier
  • The future of retail will be very different
  • Virtual conferences and meetings will be popular
  • VR will be an important tool in training
  • Affordable virtual designing of structures to visualize the project better
  • Offering virtual tours will be possible

Blockchain

A blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) is secured and bound to each other using cryptographic principles (i.e. chain). Originally devised for the digital currency (Bitcoin), the tech community has now found other uses for the technology. Blockchain technology can be used to create a permanent, public, transparent ledger system for compiling data on sales, tracking digital use and payments to content creators, such as wireless users or musicians. It has also found application in financial services and video games.

Internet of Things (IoT)

The Internet of Things, which is commonly called IoT, refers to the billions of devices around the world that are connected to the internet through sensors or Wi-Fi. It’s basically a giant network of objects that connect to the internet. Each device collects data, and this data, known collectively as big data, is exchanged and analyzed. IoT-connected smart devices can be an everyday item such as a phone, car, watch, washing machine, or refrigerator. IoT devices can also be components of machines and systems, such as on an oil rig or airplane engine.

A Forbes article explained the massive benefits of this innovation on businesses, and quite a number of businesses have jumped on board this fast-moving train.

 

 

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Oct 30

Don’t Just Be At Trade Show To Make Up The Numbers, Be There To Make A Business Impact.

Trade shows and exhibitions are not for everyone. Before deciding to invest in a trade show, you must answer certain questions to safe-guide your time and money investment.

Ensure that the Expo focus align with your target industry and you have developed the right service/product that is required by the audience. Review all activities to be in-line with your business niche.
Failure to thoroughly review the relevance of event to business niche, may lead investors into bad decision making. Getting clarity about your trade show investment would also make it easy for the sales team to chart a rewarding plan for their activities, generate leads and evaluating performance.

Team succeeds by setting SMART goals that would guide them through strategic sales outing; they need to be prepared and equipped with products knowledge and know what to present, where to present it and how to present it.

Don’t just be at a trade show or exhibition to make up the numbers, be there to make a business impact.

 

Ask about the objective of the trade show to check if it aligns with your business goal?  research before setting SMART goals. Why are you spending money, resources and valuable time to attend a show? The ROI must be realistic and measurable.

Define your objective and stick with it. Why is your organisation attending the event?:
• For Publicity.
• To build awareness.
• To showcase or unveil new product.
• To generate lead from the trade show.
• To connect and network with other industry professionals or vendors in your business line.

 

Are you looking for a market to exhibit your product/service in 2020? Click here to learn more about The Total School Support Seminar/Exhibition (TOSSE 2020). Africa’s biggest Education trade show and conference. 

 

Jan 28

Beyond Events – The Value of Leads

Exhibitions present opportunities for businesses to sell their products, get in the faces of prospective buyers/clients, and network with other competitors. The benefits of getting your business showcased at an exhibition cannot be overstated.

Rather than focus on only making physical sales, attention should also be given to getting leads for the future. In fact, the number of leads that are gained at an event or exhibition should be seen as a metric to measure the success of that outing. While immediate sales might boost business at that moment and possibly morale, it is these leads that will enable the business grow in the future. Therefore, this part of the exhibition should not be taken lightly.

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Getting The Leads

People present at an exhibition are either business owners like you, or are (prospective) clients and customers. Identify the latter, that’s the group you are looking for. Most likely, the exhibition has a theme and so you do not really have to worry about trying to identify a particular set of prospective clients. For instance, if you’re part of an exhibition for Education, it is safe to say that most person’s that will be available there will be education-based to some extent, and your product should be relevant to most.

Attracting these leads is another thing. I’d like to break it down into two ways:

Direct marketing involves you walking up to prospective clients to begin a conversation. Advance preparation is required here to know exactly what to say and how to act. Note that it might not be necessary to put forth a business proposal at this stage, the main aim is to establish a relationship such that they are comfortable with you enough to engage in further conversation even after the event.

Dress the part, first impressions matter. Visual marketing requires that you set up an attractive booth that would draw people over. Some have found that using colourful banners, catchy copies and catchphrases, and side attractions draw the attention of the public.

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Remember the aim of the effort you’re putting in: to generate leads. Therefore, you would need to be able to get the contact information of these ones you meet. Have a viable system of doing this that would not be awkward or make them reconsider. Now you’ve got these leads, what next?

Following Up On Leads

This is the part that should eventually yield results: sales. This is also the tricky part. There are a few tips that can make this process go smoothly:

  1. Separate your leads. Not all contacts you make will require the same level of correspondence. Some might require immediate and constant communication while others might not need so much. Identify these early and strike as necessary so that you don’t get tagged as too pushy or too nonchalant.
  2. Get in contact early. You do not need to wait for too long to get in contact with these leads. It doesn’t have to be an elaborate call, as little as a “thank you” email or text message can do the trick. This will help impress you and your business in their minds.
  3. Personalise your correspondence. Include personal names of the recipients in emails and text messages. Don’t just push out these messages in bulk, it will sound faux and wouldn’t help boost your stock. For direct phone calls, sound friendly on the phone, and engage in conversation rather than giving mechanical responses read off a handbook.
  4. Be consistent. Sales are usually not made at the first contact. This is where consistency comes in. Make sure to always be in contact if you see the prospects of closing a sale on a lead, whether it immediate or not. Persistence would not mean “spamming” these leads as that would be counterproductive. Create a pattern that works.
  5. Know when to abandon a lost cause. Not all leads will become customers/clients. Identify this on time and save yourself a world of stress. To determine this, check for their ability to make a purchase, their motivation, and their level of influence if they stand as a representative for a business. If you determine that they would not be able to patronise you at the time, you’d be better served striking your blows elsewhere. This doesn’t mean you discard their contacts altogether however. Add it to your database of contacts, they might be customers for another product of yours.

Chasing and closing leads might be tedious, but it is usually worth the effort

 

May 19

Six Very Attractive Opportunities at TOSSE

TOSSE is not just a platform to connect with like minds, network, and explore new educational innovations but also a place to rediscover yourself and prepare ahead for tomorrow’s challenges. We have listed six exciting opportunities you can take advantage of at TOSSE.

Get Socialized:  The perfect way to increase productivity is to take a break and get socialized. But this time, you are either there for yourself or your company. At TOSSE, you will have fun meeting new friends and clients while you stay refreshed.

Get Inspired and Stay in the Know About Latest Trends in The Sector:  Every edition of TOSSE is an opportunity to encounter new ideas, inventions, innovations, and discoveries. What you experience can be a starting point to reinvent yourself or your company. Let’s take you to the next level.

Network and Open Up Opportunities with Stakeholders in the Education Sector: Have you ever met people who easily mingle with others in business meetings or gatherings? They are not afraid of meeting new people because they know the value it may bring them. At TOSSE, we have received loads of testimonials from people who got contracts and jobs from a random person they met at the event. The possibility is limitless.

Showcase Your Corporate Culture: One factor that attracts people to work for a company, especially the younger generation of the workforce, is the company culture. Social events can attract talent to your organization as you showcase how interesting and coordinated you are as an organization.

Improved Employee Marketing Experience: TOSSE provides the opportunity for companies to explore limitless marketing channels created to boost sales and brand awareness. You can improve your existing employees’ experience through a field simulation at TOSSE where employees meet, persuade, get data and convert prospective clients.

Cut Marketing Budget: Imagine meeting all your prospective clients in one place. Then talk to them one-on-one and share how your solutions can help them. That is a huge saving on your marketing budget.