The”Internet Trends Report,” that Mary Meeker releases in Silicon Valley’s yearly Code Conference, is among the technology industry’s primary documents. As a former Wall Street securities analyst turned venture capitalist turned partner at Kleiner Perkins Caufield & Byers, Meeker is well-known for supplying accurate, precious insights about the electronics industry.
These insights are increasingly valuable to business leaders as customers become more reliant on electronic devices, e-commerce, and social websites. Regardless of your business, knowing which net and technology tendencies dominate consumer civilization is a priceless benefit.
This year particularly, Meeker’s report provides insights which each business leader ought to know about. It covers trends in everything from electronic media intake and social networking dominance to advanced technologies that alter how users interact with brands. There is something for everyone, but these four classes would be the most important if you wish to Contact tech-driven customers more efficiently:
1. Utilize technology to provide patients with the consumer experience.
Meeker discussed how health care is drifting to the electronic revolution. Many businesses are driven by a demand for improved involvement and cheaper services and products. Based on Marketplace.org, nations are forecasting that premiums on Obamacare insurance providers could rise by up to 50 percent this year. Therefore affordability and value will be crucial to attracting and keeping patients.
This year’s record indicates that, consequently, healthcare organizations will turn into technology to treat patients like clients, providing them with a more modern retail experience. This is currently taking shape in many ways, including healthcare providers implementing AI approaches to gather information from IoT-connected wearables to lessen patients’ in-office time. Additionally, healthcare organizations are working to make highly personalized remedies, such as those enabled by the PrecisionProfile stage. Pariveda Solutions and Prevention started to help physicians determine personalized treatment options for people living with cancer.
If you are not in healthcare, it is still possible to gain a great deal of value from learning how to use technology to enhance customers’ lives. When it’s higher affordability, greater comfort or convenience, or an authentic life-saving service or product, use a technician to provide clients with the expertise they need.
2. Tech talks now; get in on the dialogue.
Perhaps less sudden than the health care tech revolution is how quickly voice-controlled goods, such as Amazon Echo, have gained traction. Based on Meeker’s report, the number of installed Echo units in the U.S. jumped from 20 million to 30 million involving the fourth and third quarters of 2017. By 2022, voice-controlled private assistants are going to be in almost 55 percent of all U.S. families.
Besides optimizing your site to get voice-initiated search results, you might even use digital assistants to put in a cutting-edge sense to your brand. By way of instance, property representatives are recruiting Echo components to socialize with buyers throughout open homes and answer questions regarding the house, the area, schools, and much more.
Already, 46 percent of adults utilize voice-controlled assistants on their smartphones or other devices. Over the next five years, most U.S. customers will hunt for services and products mainly by speaking to those supporters. Wherever possible, tap into the medium by discovering ways to integrate the technology into your brand’s image.
3. Social networking and e-commerce will be the keys to increase.
The frequent theme among Meeker’s insights that this year is that what’s going digital and the increase of e-commerce is a natural expansion of that. Meeker says net earnings grew 16 percent in 2017, 2% greater than the year earlier. Most of all, consumers found a number of the merchandise they bought online through social networking marketing.
Aside from directly looking for something on Google or via its voice-controlled personal assistants, folks learn about new brands and products via social networking feeds. For example, 93 percent of users on Pinterest opt to purchase something because they found it on the stage.
Facebook, the second-largest vendor of electronic advertisements, generates over $40 billion in yearly earnings. It’s yet to be seen if this amount carries a nosedive this year due to privacy issues on the stage. If you use Facebook advertisements or not, take action to get your new presence over multiple societal networking platforms to draw more attention.
4. Data drives gratification, but solitude drives achievement.
While engineering is the automobile driving new business models, data is the fuel that makes it possible. You need information about your customers to produce a more personalized brand experience, which clients crave. However, as Meeker points outside, technology businesses have to walk a fine line between using that information efficiently and adhering to customer privacy policies.
Safety breaches that undermine consumer information can have significant penalties, but a more significant consequence is your lost hope among your customer base. Additionally, should your e-commerce goes into the European Union, you will need to stick to the EU’s General Data Protection Legislation. Furthermore, there are calls to reevaluate similar data security and privacy legislation from the U.S., also.
The best method to equilibrium data security and use would be to associate with a technology company with extensive knowledge in data security, particularly when it comes to this GDPR. Hiring in-house experience has been a favorite option, too — 46 percent of those supervisors who responded to some RSA Security poll said that they had produced a chief data security officer standing. For the past couple of years, Meeker’s online report has helped technology professionals prepare for the most significant trends of the electronic era. However, this report is not only for the IT department. Meeker’s insights may give business leaders a much better idea of what their customers expect and how to stay informed about technology trends.