How to Beat Competition and Dominate the Market

competitionSuppose you are in a small competitive niche such as pressure washing and you want to crush your competition, how do you go about it? In this fast-changing world, every company needs to be competitive to stand a chance of being a market leader. Not all innovations are same, so you have to pick wisely. In businesses, innovations do not always make you a winner, you have to do more than that. To stand way above the rest, here is how to go about it.

Offer a solution that is exceptionally better

You need to create utility and usefulness with your products, by offering products that satisfy the needs of your customers, and achieve a specific result. Offer them something that they need to help them accomplish their goals. Look at the market and evaluate what your customers and potential customers want. Look at trends in customer demands as far as the market is concerned. If you can accurately answer these questions, then you can leapfrog over your competition.

Work on your pricing

Another approach to upping your game on sales and marketing and crushing competition is by changing your pricing. Bring your goods and services on a range that your customers are most comfortable with, as this will open entirely new markets that previously didn’t exist. Work on a strategy that helps you price your goods and services so that more customers can afford them. Many companies have managed to dominate the market by bringing their prices on a range that customers can afford.

Work on Key Benefits of a Product

You need to work on the specific benefits of a product on what it brings to the customer. The key aim of achieving many sales is by making selling unnecessary in that the specific benefits of your product stand for themselves. Each product must offer a key benefit which is the primary reason why a customer buys it in the first place. Customers are afraid of paying too much and getting the wrong product. They are afraid of losing their money by getting an inferior product. Work on solving these fears.

 

Differentiation

You can stand out from the rest in the competition by approaching the market in a different way. The type of differentiation strategy you use can offer more convenience, better customization of products and services and a higher-quality customer service. The most important thing is to differentiate yourself from competition by offering something different and of unique value. When a customer values a product or service, they are willing to pay a premium to obtain it. To obtain your value proposition, you must do market research to determine your differentiation strategy.

 

 

The last thing you need is focus. Focus means you are competing on the basis of being a specialist in a particular field, and providing a narrow range of products and services. It is a strategy that can be extremely good for a small business when combined with effective marketing. To access what would be the best strategy for your business, you need to consider factors such as what the market wants, what looks more attractive to your business, any gaps existing in the market, etc.

How Artificial Will Affect Your Life

AI futureAI is being projected as one of the top technologies that are coming our way. Many tech moguls such as Elon Musk say that AI is poised to undermine our security and freedom, and can be detrimental to the survival of the human race. On the other size, tech wizards such as Mark Zuckerberg say AI is a boom bestowed upon has, with the ability to positively change our lives in multiple ways. AI works hand in hand with big data. We use big data in almost every aspect of our lives to improve customer requests for businesses such as https://towtruckfairfax.com/locations/tysons-tow-truck, government agencies, private organizations, and research centers.

Rise of Chatbots

We have already seen the rise of chatbots that are poised to completely replace humans and perform most services humans do. With Natural Language Processing, chatbots can now connect with cloud and connected systems and perform a variety of tasks. Today, we have robots working towards taking over most tasks humans do. In the future, robots will be programmed to assist us in shopping and cater for our other needs such as gaming, banking, entertainment and more.

 

Virtual assistants

Virtual assistantIn the near future, everyone is going to have a virtual assistant and these assistants are going to be pretty smart. As these personal assistants get to learn our daily routines, they will keep getting smarter. We shall have AIs which knows everything we like, what’s in our fridge, what we need to eat and much more. How cool is that! All voice-based gadgets will work together with technology embedded on TVs, lamps, cars and beyond.

 

Facial recognition

Facial recognition will be the new credit card. It will be the new driver’s license and the new barcode. Facial recognition will completely transform security and will have biometric capabilities. In future, people will no longer need to stand in long queues. Ai is poised to generate media that is specific to your personal preferences. It will be able to create new personalized media such as music that will be in line with your preferences.

 

Your doctor will use AI

2019 is going to be the year for AI medicine. Many leading healthcare systems are poised to adopt some form of AI within their diagnostic groups. Additionally, AI will start to facilitate a more contextual form of computing that will assist your computer to become emphatic. Artificial intelligence will write news and market reports that are tailored specifically for you.

The Future of Artificial Intelligence

cyborgTechnology moves at a bottleneck speed becoming more complex yet cheaper.  From self-driving cars to SIRI, artificial intelligence is moving a very high speed. AI encompasses everything be it Google’s search algorithms to autonomous weapons as well as IBM’s Watson. AI is designed to perform tasks with the precision of humans. AI can be both useful and dangerous depending on the intended use.

AI can be programmed to do something quite devastating. Today, there are autonomous weapons programmed to kill. On the other hand, AI can be programmed to do something beneficial. The concern about advances in AI continues to grow. Here are notable ways AI might affect us in the future;

Automated Transportation

We have already seen the beginning of self-driving cars. Though at this stage these vehicles have a driver present at the wheel for safety reasons, a lot is about to change. Despite these developments, technology has not become perfect yet and it will take a while before the public accepts it confidently. Google began testing self-driving cars in 2012, and since then, the US government has adopted various definitions on what constitutes to automation.

Cyborg Technology

One of the biggest limitations of human bodies is our bodies and brains. There are limits and conditions we can’t expose ourselves to, no matter how we may like it. Researchers think that in the future, we shall be able to augment humans with computers and advance many of our natural abilities. The cyborg technology will have the ability to significantly reduce some of the limitations that we humans face.

Taking over dangerous jobs

Robots have already started taking over some of the most dangerous jobs in the world. These are jobs such as bomb defusing. There are drones being used as a physical counterpart for the task of defusing bombs. However, for this to happen successfully, it requires the intervention of humans to control them. Whichever the tasks these robots are subjected to, they save thousands of human lives on these dangerous tasks.

Solving climate change

The task of solving climate change might seem to be a tall task for robots but believe me, yes robots and being subjected to this type of challenge. Today, machines have more access to data than what a person could personally access. This means with the use of AI and big data, we can identify trends and use the information to come up with solutions that solve the biggest world’s problems.

Improved healthcare

Everyday life is becoming a struggle for seniors. Many seniors now need to hire outside help to manage their care or just rely on family members for this care. AI is at the center stage for providing personalized care for the elderly. Home robots can help seniors with everyday tasks by allowing them to stay independent in their homes. Although we may not be able to predict the exact time robots will be able to take the overall care tasks seniors need, a time is coming. Beyond these ways discussed in this post, there are many other ways we can use AI to influence our future.

 

 

 

 

 

 

 

How to Start an Artificial Intelligence Startup

AIYou might be asking yourself how practical it is to build to build a business that leverages AI, and if you want to, where do you start? In this post, we are going to look at the basic elements and information that you need to get started in AI. At the very basic level, there are two categories of AI. One that does tasks so common that it is needed in different contexts – an example is turning spoken speech into written words. The other one tackles more unique tasks – like detecting heartbeats in health monitoring.

Artificial Intelligence Startup

From experience, building a startup is not mere fete. A startup requires getting everything right, as well as a long time perseverance. Many of millennials are likely to jump into startups without conducting due diligence. 90 percent of startups fail in the first year because of many factors such as no market need, running out of cash, having constituted not the right team, poor pricing/cost issues among others.

However, the good news is that AI is awesome, workable and trendy.

If you are looking forward to building an AI startup, there are a couple of ways you can go about it.

 

Blue Ocean Strategy

Top of the ways is the blue ocean strategy. The blue ocean strategy is a marketing theory advanced by Renee Mauborgne and Chan Kim – Professors at INSEAD. From this strategy, we get to understand how the capability of a company. This is done by systematically creating an uncontested market space that automatically makes competition irrelevant. You ask yourself if your startup is focusing on the horizontal or vertical problem. The horizontal focus is based on a general narrative of problems while a vertical one is more specific.

It should be noted that there are key differences between red ocean strategy and blue ocean strategy. While red ocean strategy focuses on competing in an existing market, beating the competition, exploiting existing demand and aligning the whole system of a firm’s activity with its strategic choice of low cost or differentiation. On the other hand, blue ocean strategy places it focus on creating uncontested marketplace, making the competition irrelevant, creating and capturing new demands and aligning the entire system of a firm’s activities in pursuit of low cost and differentiation.

Another strategy you can apply when it comes to coming up with a startup is the application of the right technology. This means you aim at providing cutting-edge technology solutions that beat the existing ones in the market.

 

 

Improving Business Decisions through Artificial Intelligence

AIArtificial intelligence simply means the ability of the machine to replicate the cognitive functions of human beings. In computer science, these machines are called intelligent agents and their work involves learning and solving problems that humans would otherwise do. The main goal of artificial intelligence is to create smart machines. AI includes different branches such as robotics, neural networks, machine learning, and natural language processing among others.

One of the key aims in the advancement of AI and machine learning is creating value for companies and accelerate their decision making processes. This will be based on generating valuable data, offering more affordable storage solutions and offering greater processing power. Here are the ways AI is poised to change business.

 

Quicker decision making

Today’s world is rapidly growing due to changes in technology. Time is very important when it comes to making business decisions. The ability to make decisions faster is very important for any business. Services such as retail can use AI to optimize changing pricing within minutes in areas where it could normally take humans hours or days to compute necessary data. AI can help companies also address the most urgent and important emails in order to meet various targets.

 

Improved marketing

Marketing decisions necessitate deep knowledge of customer needs as well as the capability to align products with these needs. It is very important for businesses to have an understanding of customer behavior and make appropriate marketing decisions. There are AI simulation techniques that provide reliable insights into buyer needs and behaviors. AI systems can support decisions with the use of real-time marketing data that is combined with trends and forecasting.

Accuracy

AI is being applied in business because it is smart enough to interpret accurately how data is used. AI can be tailored in analytics to analyze data patterns and accurately predict the best next move for business. The accuracy of AI helps in reducing errors and using current data in generating even more data. You can now use AI to evaluate your previous KPIs and determine if the next marketing campaign will be a hit or miss.

 

Sales Forecasting

CognitiveFirst, we can use AI in understanding consumers better. AI helps marketers better understand what the consumer is feeling, saying and thinking in real time. This type of information can help business in adjusting branding and messaging. Secondly, AI can be used as an assistant when it comes to conversion management solutions. Marketers make use of data-driven from AI to devise sophisticated communication and derive sales strategies.

 

Working with search engines

Digital marketing decisions are made super easy thanks to AI. This is particularly important when it comes to search engine algorithms. SEM marketing can be dynamic and complex because it is always changing. AI makes use of high-end language in improving search engine marketing campaign as well as improving voice search and user context. AI becomes a very great tool for decision making and businesses can be more convinced in employing the technology. Businesses can be notified immediately in case of event breaches or fraud.