In our last Brand Box series we explored business growth strategies and how to find opportunities in a competitive environment. Continuing on... we move into technology and how it is shaping our future (whether we like it or not) and how binary analysis can help you grow the market or your market share.
Let's get into it.
The Arduino is a small circuit board commonly used in prototype electronics. Arduino will help household items become involved in our social media world. It has allowed one man to create a device attached to a chair that tweets at the presence of noxious natural gases (ahem), another uses Arduino to monitor when his cats are inside the house or out, and a small bakery and cafe in East London is now able to tweet what’s fresh from their oven.
RFID Tags and Transponders
Transponders such as Radio Frequency Identification (RFID) tags are truly breathing life into our objects. For a number of years RFID tags have been used in passports, ID cards, travel cards and credit cards as a means to identify us when scanned, and they are used commercially for inventory tracking. RFID tags have potentially valuable real-world applications.
Geomagnetic Sensors in mobile devices
The compass is hardly new – it’s been around for thousands of years – but Yamaha has created a tiny 2mm x 2mm chip intended for use in mobile phones as a compass. When used in conjunction with GPS, AGPS or Wi-Fi triangulation and an accelerometer, a compass heading could be extremely useful to give more granular positioning data to mobile applications.
Optical Pattern Recognition and Augmented Reality
At some point, Optical Pattern Recognition tools might be able to tag every photo in an album automatically by recognising faces and objects in photos. Biometric Face Recognition technology is already used by police and security services to help identify known criminals.
OpenID, OAuth and the Identity Graph
OpenID lets users use a single set of login credentials for every site they visit. Once you’ve authenticated, a second open protocol called OAuth will help you share data about yourself with other sites you use. OAuth lets you grant authorisation to sites to collect data from other places you participate online. And it will allow you to share your entire identity graph information from your profile to your contacts to your lifestream. Together, these technologies could essentially eliminate the need to fill out forms and register for sites all together.
The idea of being able to control an interface without the use of your fine motor skills has massive implications for human computer interaction. Consider the ability to tweet what you’re thinking without having to pull your phone out of your pocket, type your message and hit send. Imagine being able to think “Facebook” and your screen presents you with an overview of your friend’s activity stream.
Natural Language Processing
Natural Language Processing seeks to automatically categorise and understand that which humans understand with ease. By doing so, computers will be able to understand the requests and needs of their human users far better. Of course, talented programmers can already tell their computer to do things with ease, but the rest of us would benefit from applications that understand our curious ways of speaking.
Where’s the growth?
The simple fact is that more ads does not equal more money to spend!
There are only 2 ways to increase sales...
1. Getting new people to use your product, either by:
- entering the category, or
- switching from your competitor
2. Getting existing customers to use more of your product, either by;
- increasing their frequency of purchase, or
- increasing their basket size
“Getting new people to use your product OR getting existing customers to use more of your product”
The below shows the various choices you have when looking to increase sales.
- Are you looking to grow the market or increase your brand share?
- Are you looking for this increase to come from current users of your product, or from triallists, or new entrants?
- Do you ha ve a branding message or a unique selling proposition?
Performing a binary analysis will allow you to target your communications to the group most likely to increase your sales.
That's it for now.
In the next post we will looking at the all important aspect of knowing your consumers.