If there is a new emerging paradigm for business, it is SMAC. Social, Mobile, Analytic, and Cloud (SMAC) based business models are becoming a hotter trend in digital marketing networks. Intuitive business owners are embracing the SMAC as a convergent force that could drive their business thrusts towards productivity. SMAC-based enterprises are able to develop an enticing customer engagement process and it consequently unfolds vast revenue opportunities for business.
The internet has created a door for the proliferation of technology applications such as open source platforms that can be used for various business strategies. With this door of opportunity open, innovative business solutions became available. Integrating various platforms for business applications, the SMAC business model emerged.
What is SMAC for business solution?
The SMAC uses four drivers of digital marketing innovative channels, namely social, mobile, analytic and cloud. Combining these four drivers for business productivity gives you a holistic solution in transforming your organization as a highly functional and productive entity with the capability of managing future business challenges.
Social sharing enhances your business popularity in the social networks through the rapid sharing of your business products and services. Social marketing also enhances the collaborative knowledge for your business where your brand interacts with potential customers, giving them the opportunity to share feedback and insights on how to improve your products and services. From these activities, you can harness valuable data coming from your customers that can help you build better marketing strategies for your business.
Mobile technology reinforces your business ability to connect with your customers. With about 60 to 80 percent of consumers using their mobile devices for shopping and looking for services online, you can boost your potential revenues by embracing mobile marketing as part of your business marketing strategy. Using mobile devices, the consumer enters the mobile marketplace where shopping can be done with ease.
Using analytics to your business can enhance your supply chain and reinforces your ability to improve customer experience to your business. Using big data, you can extract valuable information that can enhance customer engagement with your brand, products or services. You can use data as business values to work on using analytics to acquire significant guide in marketing decisions.
Cloud computing is another valuable driving force that offers businesses a cost effective way of building flexibility and enterprise agility for better productive outcomes for business. The cloud technology helps create a more cost effective IT ecology and infrastructure for organizations with the ability of businesses to cut down the costs for maintaining a physical server.
Creating your SMAC business model
Creating your own SMAC business model can be quite a challenge. For most organizations, the process is overwhelming. Indeed, building a SMAC business model can be daunting owing to the complex processes involved, more significantly because of the constantly evolving web based business environment. Every digital marketer needs to take a more systematic approach when designing their own SMAC business model, taking into consideration the following:
- Consider your business objectives and resources.
- Implement a more realistic initiatives to drive your business marketing strategies
- Discover your business capability in using SMAC and explore every aspect of benefits that can be derived from each.
- Link with technology partners that can help you manage your SMAC based marketing campaigns in a constantly changing SMAC environment.
Every business has different marketing goals. You can implement yours by using the following techniques when creating your SMAC based business model.
Build your business as a platform
Most businesses create a pipeline where they launch their business with products and services to offer to their customers. In a SMAC based business model, you need to create your business not in the pipeline model, but more on the platform model where instead of offering your products and services for others to use, you make a reverse effect where you make people come to you in order to use your product or services. For instance, television channels are built on a pipe business model where it offers various television shows for people to watch. However, YouTube operates in a platform model where people seek its services to upload their own videos. In this regard, your business in a SMAC based environment will never falter to earn revenues because social, mobile, analytics and cloud channels remain relevant to your business.
Transition from transaction to interaction
Current business models are focused on transactions. However, a SMAC based business will likely stand longer by transitioning their business approach from transaction to interaction. SMAC applications are more relevant to customer engagement. As a matter of fact, it is about how your business connects with people, understanding what they think and how they feel about your business. This makes your business more customers centric where you get to build more personal relationship and connection with your customers instead of a mere formal transaction with them. After all, interacting with people is the essence of modern business applications these days such as social media apps, web logs and usage data.
Customizing customer engagement
Customization of your business according to your customers’ needs may be an expensive marketing approach. However, by using SMAC based business models, you take a more cost effective direction in integrating personalized customer engagement to your business. By using data analytics, you are enabling your business to gather vital information about your customers that will help you obtain better insights about them. Using the analytics report, you can create a marketing model that will tend to specifically address your customers’ needs and preference using a SMAC based business solutions.
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Read more: The Social, Mobile, Analytics, Cloud (SMAC) Equalizer for Small Business
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