INNOVATE

How Innovation Is Changing Business

Change in inevitable, but innovative change is the differentiator

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BY Gordon Tredgold - 05 Jan 2018

PHOTO CREDIT: Getty Images

There aren't many certainties in the business world. In fact, you could say that the only certainty is that change will come, and when it does, it will come hard and fast. Some changes might be outside of your control, but the change that comes with innovation is well within your reach. You can make use of the latest innovations to improve your business strategy, and you can also innovate on your own to move past your competition.

Look at some innovations that have changed the business world in recent years, and think about ways you can create your own change with innovations.

Mobile Is the Best Way to Reach Customers

When the first mobile phone call was placed in 1973, no one could have understood the impact mobile devices would eventually have on the business world. Mobile devices experienced various changes over the years, and now, they are like personal computers that fit in pockets. They are also like a security blanket of sorts, as most Americans can't stand the idea of being without these devices.

Americans spend five hours a day dedicated to their mobile devices. They use their devices for everything from shopping to engaging in social media, and this has changed the business world dramatically.

Now, companies have to adopt a solid mobile strategy, or they'll be left behind. If companies can't reach the market on digital platforms, they might not reach the market at all. Because of that, this is easily one of the biggest innovations to hit the business world in decades. It's also one of the most exciting.

Personalization Is Key

Back in the old days, every site was the same for every user. You would go onto the site and see the exact same thing everyone else saw. The experience wasn't customized or personalized at all.

That has changed, though, with Amazon leading the way. Amazon remembers users and provides information based on their behavior. It shows you products you'll like based on your browsing history, and it even shows you products that go with products in your shopping cart.

That's just one example of how this innovation works. Site owners regularly collect data and provide different experiences based on the data collected.

Transparency is important when it comes to personalization, though. More than 60 percent of internet users want to know how, what, and why websites select the personalized content. Be upfront about your personalization efforts so you can benefit from this exciting innovation.

Videos Are More Common Than Ever

Video is also poised to change business in a big way. In the last two decades, this innovation has changed quite a bit. It began as personal marketing or messaging and evolved to viral video marketing. Now, social video marketing is all the rage, and this innovation has changed the way companies do business. It's also changed the way that people interact with brands.

The latest innovation is the live video. Twenty-percent of Facebook videos are streamed live, and for good reason. Viewers stay tuned three times longer when a video is live. That means this latest innovation is changing the way brands reach their audience. It's helping brands keep audiences engaged, and that should lead to more sales.

Innovation is the key to success in the business world. Brands that stay on top of the latest innovations are more likely to have successful outcomes. These are just some of the ways innovation is changing the business world. There are countless other ways, and there will be more ways in the future, as well. That's the great things about innovation. There's always something new on the horizon.

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