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5 Tech Trends Shaping How Brands Will Do Business In 2018

5 MINS READ

AT EMBERSON, WE HAVE IDENTIFIED 5 KEY COMMON TRENDS IN TECHNOLOGY ADVANCEMENT THAT ARE SHAPING HOW OUR CLIENTS DO BUSINESS:

1

Customers will access your business via other companies’ AI systems – shaping their experience of your brand

From Amazon’s Alexa to Google’s Home, the rise of chatbots and virtual personal assistants means that consumers are already leapfrogging many of the conventional paths to interact with – and buy from – today’s brands. AI will become brands’ UI. If the AI can’t help potential customers find what they need smoothly and simply, then it’s your business that could ultimately suffer…

2

Cloud-based ecosystems such as Facebook Messenger are replacing in-house software for core functions

A decade ago social platforms changed how the public at large communicated with companies. Now thanks to messaging apps the same shifts are happening for employees and customers. Whether it’s submitting expenses via a photo message or using FB Messenger to order room service in a Hyatt Group Hotel, the ubiquity of messaging means that form filling and single function software packages are coming to an end.

“Helping people communicate more naturally with businesses will improve… almost every person’s life, because it’s something everyone does.”

Mark Zuckerberg

As a testament, 11,000 bots introduced to Facebook Messenger 80 days after Facebook launched the capability.

3

More companies are being operated based on the way we want to work and live

While many components of your business can now be copied and commoditised, it’s the unique talents of the individuals within it that represent today’s competitive edge. Maintaining this edge is no longer about dishing out perks to high-value individuals: it’s about becoming the company to work for within your industry. For some it’s enabling employees to ditch the commute and work where they’re most productive. For others it’s encouraging healthier lifestyles through monitoring and rewards. Technology is finally helping us lay that Victorian workhouse model to rest, once and for all…

4

Data captured from wearables is informing new kinds of hyper-personalised brand experience

From smartphones to fitness trackers, clothes and glasses, the stats gathered from the next generation of wearable devices – when shared – open the door to much more tailored experiences. Already dubbed ‘lifelogging’ or part of ‘the quantified self’, people can (for example) gather science data for health-based charities and align donations to their own on-going personal milestones, reducing the fundraising burden from large-scale, one-off events…

“The recent World Economic Forum predicts that 1 trillion sensors will be connected to the internet by 2022.”

5

Successful organisations are evolving from market takers to become true market shapers

Why compete to lead a crowded market when you can use technology to create an entirely new industry? For example, both Amazon and Netflix have grown out of the DVD rental market to compete directly with conventional TV channels – creating and producing original content to support their own streaming technology platforms…Tesla is applying its technology in numerous sectors (automotive, construction, utilities, fuel stations, transportation) and disrupting them.

67% of respondents of the World Economic Forum’s poll predicted that by 2025 more rides taken globally will actually be via a car-sharing service, and not by a privately-owned car.

SUMMARY

Technology that improves people’s experience

Where brands will win is where they use technology to improve people’s experience. Published by the World Economic Forum Brad Keywell’s article summarised this very point: ‘The Fourth Industrial Revolution is about empowering people, not the rise of the machines.’

Emberson runs regular free seminars on creating new categories and digital marketing strategy.

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