No matter the industry or business, owners and customers alike benefit from access to more accurate information. New technology is disrupting several industries, allowing for this greater access to valuable information and opening up more opportunities for local marketing, efficient management of assets and improved healthcare. Let's take a look at how this works and the benefits of disrupting technology.
Everyone goes to Yelp or Google to research the best places to eat, see movies or concerts and increasingly, find a doctor or dentist. However, these channels are often informed by the general public and information can be old or downright wrong. How do we fix that?
Jon Schepke, founder and CEO of SIM Partners, a leader in location marketing technology, advises that brands treat their location data as a valuable asset to be managed, distributed, and monitored for accuracy and visibility across all the places where people conduct "near me" searches. "In the age of the mobile consumer, being found requires brands to actively manage their location data to ensure they are visible across discovery platforms, including search platforms, maps, apps, and more," he says.
Similarly, there are opportunities in this space to improve the user experience and optimize the space to get in front of potential customers. If a restaurant changes its location or hours, it could be weeks or months before it's updated in all the places people search online. Additionally, advertising on social media or within these channels can be tricky without location and accurate demographic information.
Beacon technology is a becoming increasingly important for restaurants and storefronts. Targeting people when they're nearby is an effective and efficient way to grab attention and get them inside your store. Connecting this to the analytics of current customers, visits to your social media pages or website makes your marketing dollars go farther than it ever has before.
According to Schepke, enterprise brands can succeed with location marketing by combining location data and contextual content to convert searchers into customers. "Well managed location data ensures visibility, but you need compelling contextual content such as mobile wallet offers to create sales. Location marketing is about delivering the right content to the right consumer at the right time and place."
When it comes to real estate, an industry that's been around forever, there's no wonder it's taking longer to incorporate technology. There are privacy concerns, continuously changing information like interest rates and rent prices. There is commercial real estate and residential, where abide by different rules and levels of maintenance and involvement. There are property maintenance issues, various vendors and suppliers; the list of variables goes on.
But some tech companies are starting to sort through it. It's possible to overcome this huge field and lighten the load of work through technology. With managing software at their fingertips, customers can more effectively maintain their properties and keep their residents happy and productive as well.
"Technology and innovation are revolutionizing multisite property management by giving owners and managers the power to make smarter decisions," said Mike Rothman, chairman and CEO of SMS Assist, a cloud-based multisite property management company. "Our 20,000 subcontracted affiliates and 110,000 client locations use our integrated solution unlock previously unattainable operational savings. Access to real-time data and analysis helps them drive down costs and increase value for their end users. It's a win-win."
The financial industry is currently experiencing fundamental changes. "FinTech" is the term of the future. It stands for "Financial Technology" and includes everything from simple online banking platforms to highly sophisticated computerized trading systems.
Over the last few years, FinTech start-ups have been emerging all around the globe, threatening the business model of banks and traditional payment providers. In the meantime, customers can do most of their banking operations online. It is possible to book a flight within a few minutes and investors can purchase gold at the other end of the world using an online gold dealer. "Buying gold is easier than ever before. We serve more than 1,000,000 clients worldwide, and technology has made it possible," says Jens Krebs, president of the online gold shop Global InterGold.
FinTech will change the banking world significantly. Banks have recognized the threat and have started to invest heavily in the trend. Major banks are even running their own accelerator programs in cities like London, New York or Singapore and support FinTech startups all around the world. That will further accelerate the developments in this industry.
This is an industry that has been adopting more and more technology into their practices. Electronic files make it easier to share information among practices and doctors. Monitoring health and illness as well as physical rehabilitation all benefit from modern technology. Wearable tech can monitor heart rates, stress levels, BMI and so much more. Because of these advances, doctors, researchers and other professionals have great access to objective information rather than relying on subjective measures and self-reporting. These are important advancements for patients, too, who are now able to access their personal information, connect directly to their healthcare providers and track their medication and progress.
Academia and more
Textbooks, homework assignments and academic papers are increasingly available only in electronic form. This creates an issue for students who need to highlight sections of a paper or take notes. It's also difficult for teachers or reviewers who provide feedback on papers and research articles. It's expensive and cumbersome to print out each paper, take notes, and scan it back in to upload. Plus, a huge benefit of these electronic papers is the reduction in paper waste.
Similar to education, other traditional industries are facing new technologies that are changing the business landscape. "Financial markets, in particular investors and bankers, are looking at disruptive technologies in a new light. It isn't enough to know the current competitive landscape when making deals," says David Jarczyk, President and CEO of ktMINE. "It is now critical to track new entrants, with new technologies, who have the power to destroy a competitive advantage. Access to information and tools to do so accurately and quickly has become the new standard in due diligence. "
Software that offers user-friendly annotation and signatures tools are so important to many fields including property management, freelancing or consulting, higher education, and research. Not everyone has a printer and scanner, but nowadays contracts, leases and other documents are often handled via email or online programs. Some tools of this kind have existed for awhile but don't take into account what users really want from them. They may be clunky or incompatible across devices, making file-sharing difficult.
What's next for these fields? The possibilities are seemingly endless and certainly empowering to business owners, entrepreneurs and consumers alike. The greater the access to accurate information, the more effectively we can market, communicate and manage our businesses.