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Tuesday, 30 June 2015

Top New Technology Innovations

“I believe that every life is valuable. That we can make things better. That innovation is the key to a bright future. That we are just getting started.” – Bill Gates

It is said that every generation owes itself one glorious revolution. It seems technology is impervious to this timeline distinction - from the steam engine to the printing press, from the stapler to the smartphone, it is destined to revolutionize our day-to-day lives, generation after generation. It is making clean energy at 1/100th the cost, eradicating diseases, saving and even creating new lives a tangible possibility.

The top new technology innovations of the 21st century (so far!):

DNA technology is helping produce miraculous fixes and even modify mutations that cause life-threating diseases. It is also increasingly used in criminal investigations, nanotechnology and gene-splicing.

(Image courtesy www.dnatesting.com)

Solar technology is often imagined as solar panels installed atop the roofs of industrial and residential buildings. But, research teams are focussing on applying solar energy in various forms like solar roadways and solar power in space.

(Image courtesy www.extremetech.com)

Connectivity is perhaps the most experienced form of new technology today. It is only going to be better, faster with hyper connectivity weaved into and across daily appliances at home and offices, transport modes and entertainment.

(Image courtesy www.discovery.com)

Online classrooms are providing the most important educational foundation that everyone needs, no matter their location, social stature, physical and mental limitations.

(Image courtesy www.wired.com)

3D printed bridges, self-driving automobiles, virtual reality, bionic prosthetics, artificial intelligence and robotics – the future of technology is as comprehensive as it is engaging and incessant.

Monday, 8 June 2015

Shake the Status Quo – Boost Retail Conversions

If retail was to be summarized in numbers, the key statistic would be the sale conversion rate. While determining the financial health of the retail business, it is vital to ascertain the conversion rate out of the total incoming traffic in the store. A steady incline in conversions is usually linked with increased in-store traffic in the future. The challenge lies in mastering the sophisticated combination of attracting more foot traffic and delivering personalized attention to individual customers.

Store display – How many times have you entered a store just because it looked intriguing and just too appealing? It happens. And it can happen for your store, if you put your best out in a spectacular display. Creative brand and product imagery can help a small kiosk win over a sprawling showroom. Excite passing customers with interesting display and incentivizing signage. Keep them changing as per seasons, occasions and promotions, to counter visual fatigue. In an overcrowded marketplace, if you could manage to get the prospects into your store – half the battle is won!

Sales training – This might sound very basic and an existent part of retail business, in varying degrees. But in the customer-centric retail arena, just warm greetings and polite pointing don’t make the cut. Your in-store sales staff and customer support agents need to be groomed, trained and empowered with the right technology to consult customers with confidence. When a customer is treated with a truly personable experience, it becomes the key distinguishing factor for her to return to the store instead of using other channels to make the purchase, next time.

Customer feedback – One of the best trends followed in the present social media age is being vocal about your likes and dislikes. Customers vociferously review, critique and comment on various subjects, including their retail experiences. Online/offline surveys work to an extent but it can’t be your only medium of accumulating customer feedback. A substantial, savvy and trustworthy multi-channel presence wins favor with all kinds of customers. It induces and initiates conversations that engage customers and prospects alike. Through this, retailers derive actionable feedback which helps fulfilling customer expectations and nurtures brand loyalty.