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Trends and Innovation

For innovation to be advantageous within your business, you must have a strategy for informing customers on the specific benefits of the trend or innovation in relation to your product or service. Trends affected by customer choices, the internet, social media, and technology have a greater influence on customer behavior than conventional advertising. As a leader, you should develop strategies incorporating a knowledge of trends and areas identifying with technology, internet, innovation, and social media.

Technology Trends. Technology influences customers regarding business sustainability and corporate responsibility. Emerging innovative technology can propel your business to growth by providing a medium for evaluating choice patterns of your customers. The advancement of technology can additionally influence the value of your products and services. Moreover, by using technology, you could develop strategies that decidedly enhance your perceived product value. You can additionally utilize innovative technology to improve marketing research knowledge. For technology to remain beneficial within your markets, your business must have a system for effectively using technology to train and educate customers on the benefits of your product or service.

Technology in Marketing. Marketing is not shaped by what technology can do but instead centers on what the customer will accept, understand, and want. There are three changes that you must consider when creating successful marketing strategies using technology. The first is to move away from market research and instead look toward being able to interpret information extracted from your customers through databases of information. The second change is to move away from traditional advertising and placing more attention on social media for communication. The final stage is to stop looking at marketing as a means of mass markets and move toward building a personal relationship with customers through media outlets.

Trends in MIS

Major trends in technology that impact communication within organizations include; voice over Internet protocol, Web 2.0, and virtual networks. Unlike virtual networks, face-to-face (F2F) meetings provide limited support for global projects and establishments. Within virtual networks, a powerful infrastructure and high-speed data services are required from both network users, which can help prevent interruption of communication. Technologies used throughout virtual networks include; email, chat, phone, videoconference, group calendars, and other electronic meeting systems.
 
F2F meetings can be good to set the stage for a growing business relationship. However, technological communication presents an opportunity for the relationship to continue. Remote communication facilitates socialization, which may aid in completing extensive projects. Dispersed work and technology have become familiar to many people within organizations, and technology can be used by team members to minimize perceived dispersion. As technology and virtual teams grown, so will the tools and technologies to track their effectiveness. Virtual teamwork builds long-term social ties, and technology may present breakdowns in communication amongst development teams. While F2F integration furthers interpersonal ties and collaboration, technology is utilized to renew social ties and provide further interaction between remote users.
 
Trust has been connected to the success of virtual software communication, and F2F communication is often required to establish the trust and social ties. By remaining in social ties, the individuals build trust, and encourage rapport with one another. Challenges of distributed virtual software include time, culture, and location, and F2F meetings have been linked to better team performance Technology can be used by team members to minimize perceived dispersion. Trust is needed to establish social ties. Trust is critical to the relationship, but difficult to build at a distance. Virtual teams have a more difficult time establishing shared identity and are often more prone to conflict. For globally distributed projects, individuals should be acquainted with one another prior to joining in virtual communication, consider the original meeting builds trust and ensures smooth collaboration.
 
I believe that all businesses can use virtual networks within their organization to facilitate meetings with employees and employers. Considering most organizations have upgraded their structure to utilize technology and information processing systems, allowing employees to work and communicate virtually can increase productivity by lowering delays in communication.

Internet and Social Trends

The development of the internet has shifted businesses from paper-based and people-intensive purchasing frameworks toward electronic frameworks. In 2016, U.S. electronic commerce transactions accounted for $394.86 billion (11.7%) of total retail sales.[1] Online sales have seen a significant growth because of the internet. The progression of the internet and technology will continually add value to business and customer relationships and provide material for future marketing research.

Customers are moving toward the internet to develop knowledge, business insights, and for other personal reasons. Research has shown that businesses that utilize traditional marketing techniques and advertising methods have seen a decrease in revenue because consumers are moving online to search for businesses and make purchases. Considering the exceptional growth of the internet, businesses without a viable marketing strategy embracing the internet witnessed a lack of marketing effectiveness, product sales, and brand awareness. To counter the effects of the interpersonal communication that the internet presents, your business should obviously develop strategic marketing communication for targeting internet-based customers.

Using the internet to gather information aids in collecting pertinent data for better comprehending the perceptions of your customers toward your business. Given the development of the internet, you can utilize technology for storing and accumulating customer information. Likewise, because of the significant influence of the internet, you can also use the internet to help with establishing relationships with business partners and customers.

The internet affects individuals in their daily lives and can produce challenges for your business due to the accessibility of social media. Online networking has revealed an entryway for customers to express their concerns directly to your business, and this method of correspondence encourages interaction between your business and your customers. Subsequently, customers appreciate having their sentiments validated. However, the immediate and open forum of communication could present challenges for your business if you are not prepared to manage and grow with the online trend.

Customers have a significant influence on the brand awareness of your business as the opinions of customers can propel your brand reputation. For instance, inquiries, comments, and reactions on discussion boards often affect brand loyalty, social following, and purchasing habits. Given the internet, you have to carefully monitor your brand, public activities, and reputation if you want to stay ahead of customer concerns and problems that could impact your sales and business growth.

 

[1] https://www.digitalcommerce360.com/2017/02/17/us-e-commerce-sales-grow-156-2016/

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