There is hardly any doubt about the power of technology. The exciting innovations and trends in this field are versatile enough for businesses worldwide to leverage their benefits for improved outcomes.

As fresh business ideas surface to solve consumers’ problems, entrepreneurs are constantly on the lookout for new and innovative ways to make the most of their business processes. With the increasing customer demands, the new technology trends form the perfect keys to meet and exceed customers’ expectations.

Even though business models have turned more consumer-centric, it isn’t always easy to attract and retain enough customers at the same time with the same products and services. This is where utilising technology becomes even more relevant.

Let’s take a look at some of the trends in technology that can help you make the most of your lead generation and retention strategies.

Augmented Reality

Augmented reality is an exciting technological innovation that merges the virtual world with the real world by overlaying digital elements in the real world in real time. These virtual add-ons can be viewed through specific AR apps, smartphone cameras, headsets etc. This technology is highly mobile which corresponds to the demand of customers to be connected on the go.

The potential of augmented reality lies in its ability to provide immersive experiences to customers. Whether it is bringing an advertisement to life by pointing the smartphone camera at it or finding out how a new couch might look in your living room before buying it, this technology takes visualisation to the next level.

By engaging the visual sense of customers in helping them make purchasing decisions, augmented reality can foster trust of the customers in the products, thus increasing the likelihood of a purchase.

Beacons

Treating customers as individuals is one of the best ways to build meaningful relationships with them. This, in turn, is highly beneficial for businesses since such efforts build trust by making the business more humane. Utilising the potential of beacons makes this possible. These devices use Bluetooth to communicate with the smartphones of in-store consumers.

For example, recently, the department store, Macy’s maximised in-store traffic through a beacon-driven gaming campaign on Black Friday. Customers were required to install Macy’s app to play a digital scratch game which could help them win products.

In addition to such in-store engaging campaigns, beacons can be used to guide customers to the right departments for the products they are looking for, notify them of a discount or a special offer etc. Such interesting prospects can increase a store’s footfall considerably.

3D Printing

This is the age of personalisation. 3D printing takes this trend to the next level. From houses to food, almost everything can be 3D printed. The exciting potential of this technology has enabled consumers to customise the products by modifying the designs according to their requirements.

3D printing technology shifts the control to the customers, thus giving them the ability to have a say in the products that they invest in. More and more businesses are using this technology to attract customers. In fact, 3D printing is estimated to grow into a $21 billion industry by 2020.

Big Data Analysis

Accurate data analysis is at the root of all business decisions. All businesses generate a large amount of data every day through social media interactions, business transactions and other activities. This resource can be utilised with the help of smart innovations in technology to optimise lead generation and retention.

Customer data can be collected via online surveys, cookies, social media activities and so on. Such valuable information could be used to better understand customer preferences and requirements. As a result, businesses can make the necessary modifications in their products and services to meet these demands.

In addition to that, data can also be used to provide improved after-sales services to customers which may include support, maintenance and so on. Such improved services will add value for clients.

Big data has a number of benefits for businesses. The right implementation can provide massive competitive advantages to businesses.

While these technology tools can be quite effective to attract and retain customers, it is important to implement these appropriately for the best outcomes. Eventually, leveraging the trends in technology isn’t just about being interesting, but it should also be relevant to your customers.