Innovations in the business world are common. So it should be, too, since every business needs to be up-to-date with the ongoing trends and best practices.
If you are not aware of what is happening in the business world, this blog is just for you.
This piece of content has in-depth information about the top 6 innovations causing stirs in the marketplace and will continue doing so beyond 2023.
6 Must-Know Innovations For 2023 & Beyond
User-generated Content On Social Media Walls
87% of brands use UGC to share authentic content with their customers. On top of that, 90% of customers find user-generated content more valuable and genuine than promotional advertising.
UGC on digital screens or you can say social media wall becomes a brilliant combination for all marketing channels, be it websites, events, e-commerce stores, marketing campaigns, etc.
A Social media wall is a real-time representation of user-generated content from major social media platforms such as Instagram, Facebook, Twitter, Pinterest, etc., on digital screens.
User-generated content on social media walls generates brilliant results such as customer engagement, social proof, word-of-mouth marketing, and boosted sales and revenue.
In the future, holograms will dazzle attendees, educate potential partners, and demonstrate products to buyers in novel ways. Event Works 4D, a leading video production company in Ohio, offers 3D holographic mixed-reality displays, immersive holographic speaker support, and life-scale holographic presentations for events.
One of those event technology trends has numerous applications. The only limitation is your creativity, from celebrity commercial endorsements to award shows to life-size product imaging.
The best thing about holograms for event venues is that they can be used in almost any type, size, or location. In addition, the units are typically self-contained and include all the audio and visual equipment required to operate.
The units are typically self-contained and include all the audio and visual tools required to run the hologram. These units are suitable for both temporary and permanent installations.
Digital Event Invitations
Using digital invitations, event planners can add a sense of formality to corporate and upscale private events. They are also excellent for engaging and upselling guests before they arrive at the venue. RSVPs and meal preferences are also easier to collect with digital event invitations. You can add a QR Code on your invitation card and with this, you can personalize your invitation, add RSVP, share event details, etc.
Typically, event venues do not provide invitation services to their event planners. On the other hand, event venues can use this technological trend to impress potential partners. Change your email from plain text to multimedia messages with branded designs, embedded venue promotion videos, and more.
Latest E-commerce Trends
E-commerce trends revolve around Web3, where businesses use Defi trends to raise their profiles. “Defi” refers to the blockchain, cryptocurrency, and non-fungible tokens (NFTs) – a new world of business conducted over the blockchain with novel marketing opportunities.
Some technologies, such as the shared P2P ledger, make business faster, cheaper, more secure, and more transparent. Smart contracts on the blockchain can verify, guarantee, and enforce transactions. Finally, of course, cryptocurrency, or digital coins, can be used to attract a different type of consumer by replacing physical money.
Magnum Real Estate Group recently listed three retail condos on Manhattan’s Upper East Side for Bitcoin. At the same time, blockchain technology provides real opportunities for agents to network and share their expertise while earning a financial reward.
NFTs, or uniquely created digital assets, are also being used by brands as a next-generation trending way to market their products.
Machine Learning and Artificial Intelligence
Organizations and researchers are now combining their data and computing power to provide the world with advanced AI capabilities.
Machine vision is a critical trend in the AI world. For example, computers can now see and recognize objects in a video or photograph. Language processing is also advancing rapidly, allowing machines to understand our voices and speak back to us.
Low-code and no-code are going to be big this year. We will be able to build our AI with drag-and-drop graphical interfaces, allowing us to create unique applications without being constrained by our coding abilities.
The metaverse is today’s futuristic blend of virtual reality (VR), augmented reality (AR), and artificial intelligence (AI), culminating in a new 3D immersive experience that blurs the physical and digital.
Users can create their avatars, allowing them to “feel” experiences without buying them.
This has given rise to the marketing industry’s newest term, “gamevertising,” which refers to gaming by marketers and brands to advertise their products. This gamevertising trend has taken over the film and music industries.
On the retail front, brands use technologies such as augmented reality to create blended shopping experiences in which buyers can “try on” clothes, “sit” on chairs, “live” in specific geographical areas, and so on.
We now have more augmented reality (AR) capabilities on our devices (especially phones and tablets), and there is a greater push toward virtual reality (VR). In 2023, we will see new, lighter, more portable VR devices that, rather than clunky headsets that require WiFi connections; will be more like glasses that connect to our phones and provide superior VR experiences on the go.
These advancements in extended reality pave the way for incredible experiences in the metaverse, a persistent, shared virtual world that users can access via various devices and platforms.
Digital Photo Booths
Planners continuing to recognize the power of video marketing; there will be even more demand for virtual video booths for both online and hybrid events; which allow event attendees to share testimonials about their experience; raise awareness about a cause they care about, and more.
In-person and online, use virtual photo booths to capture branded photos, GIFs, Boomerangs, and short videos of attendees. This boosts brand channel engagement. When combined with auto-generated captions and event hashtags, it can also help improve organic SEO.
Event venues can provide even more opportunities for planners to engage attendees at in-person and hybrid events. In-building spaces, such as hotels, can also impress visitors with branded experiences in between events.
Wrapping Up: Must-Know Innovations
As far as the business world is concerned, you should be aware of all the major innovations happening across the globe. Some of them have been mentioned in this blog. We are sure that these innovations will take you ahead of the curve.
Rajat Singh Chauhan is a Content Strategist at Taggbox. He is passionate about content writing and all the techy, geeky stuff that goes with it. You can master digital only if you love it, and Rajat does. On the personal front, he loves taking on new life experiences and remains a student of life.