How companies are using technology to expand their businesses
Category Commercial and Industrial News
Technology has become a jaw-dropping force for business and by harnessing what it has to offer, you have the potential to reach your clients and shine the spotlight on your products in unprecedented ways. By considering examples of what global and local businesses have achieved, the future role of technology in your own business may become clearer. 3Cube Property Solutions looks at some examples of movers and shakers in the world of tech.
How a programming deal, a new website and social media saved National Geographic
An inspiring story of how an iconic brand used technology to turn itself around can be found in the much-loved yellow-bordered magazine National Geographic. The Glia blog shares that between 1999 and 2009, subscription revenue fell by almost 27%. Using the power of technology, the company turned its fortunes around, from subscription revenue of $211 million in 2009 to $569 million in 2013. How did they do it? For starters, they struck a lucrative cable programming deal with Fox and revamped their website. They also began a strategic social media policy on Facebook and Instagram. In a nutshell, they transformed from a traditional magazine to a digital publication and reaped the rewards.
Using technology to reset a business out of a slump
A similar story comes from the global brand Domino's Pizza, which discovered that a much-loved hand-tossed pizza crust would not on its own be enough to empower the company to keep up with the times. In 2008, the company hit a slump and found itself needing to look for ways to reset the business strategy. Domino's turned to technology to solve their problem, developing a multichannel approach to orders. This approach empowers customers to order a pizza via various media, including Facebook Messenger, a Smart TV, Amazon's Alexa and Twitter. This has been made possible by the integration of artificial intelligence and smart chatbots. At the height of the company's slump in 2008, the stock price was just $5.95. In 2022, the stock price reached a high of $396.
Intelligent use of data and AI
A third example of a brand harnessing technology can be found in Starbucks. Starbucks' digital strategy uses big data about population density and traffic patterns to target strategic locations for new stores. Having launched its Starbucks Card Mobile application and My Starbucks app back in 2009, Starbucks has been a trailblazer in the adoption of digital technology. The app's user-friendly layout, ability to customise orders and easy-to-follow loyalty programme have kept Starbucks ahead of the digital curve.
Bringing beauty into the future
On their list of "nine examples of brands that get digital transformation right", Bernard Marr & Co refers to the example of Loreal, which is now offering augmented reality solutions that allow customers to try out cosmetic products in their homes using their smartphones. Being an early adopter of metaverse content, L'Oreal has also experimented with online virtual spaces.
Companies closer to home using technology to improve lives
Over and above looking at the success of global brands, it's easy to find examples of South African businesses using technology to get ahead and to make life simpler for their customers. For example, Gift Lubele of Kudoti has created a digital platform designed to help waste management companies extract more value from waste. According to the Codespace blog, Lubele's platform has helped users to sell recyclable waste and thereby earn a living.
These examples are just the tip of the iceberg of companies getting ahead and revolutionising their products and operations with the help of new technology. To get ahead, the first thing your business needs is the right premises. If you're based in Gauteng, speak to the talented team from 3Cube Property Solutions about your commercial, industrial or retail space needs today.
Author: 3Cube Property Solutions
