Digital media and analytics: Test your business creativity with Edition 10 of our quiz!
This weekly quiz from YourStory tests your domain knowledge, business acumen, and lateral thinking skills (see last week’s quiz here). In the tenth edition of the quiz, we present five issues tackled by real-life entrepreneurs in their startup journeys.
What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs themselves actually did. Would you do things differently?
Q1: Power of CCTV
CCTVs are becoming ubiquitous in stores and cities around the world. However, much of their data is analysed only after an incident occurs, such as a robbery. What’s a better way to leverage the power of CCTVs?
Q2: Endorsements and opinion leaders
For a long while, celebrity endorsements were the most viable approach for many brands for increasing appeal. But this approach has its limitations, and new avenues have emerged. What is this new reality, and how would it work?
Q3: Websites and beyond
Websites have rapidly evolved into online storefronts, and many companies offer products for ecommerce enablement. But expanding to other countries can be a challenge. What’s a good way of expansion without setting up local offices?
Q4: Chat or calls?
Live webchat for customer service has a number of advantages. Techniques like automation can be readily deployed, it lends itself well to predictive analytics, and millennials seem to prefer it. So why should companies offer phone support?
Q5: Enhancing online learning
Group activities, customised content, simulation games, rich visualisation, and peer learning are some ways in which digital platforms are being enhanced for online education. What’s another emerging technology that can add much more life and analysis to the e-learning experience?
Congratulations on having come this far! But there’s more to come – answers to these five questions (below), as well as links to articles with more details on the entrepreneurs’ solutions. Happy reading, happy learning – and happy creating!
A1: Power of CCTV
Abhijit Shanbhag launched Graymatics to enhance the power of security and surveillance systems. A lot of CCTV image and video content is not being used in real time to detect and stop incidents like vandalism.
The startup has developed realtime analytics solutions that integrate with existing CCTV infrastructure, making them active devices and not just passive observers. Its tools are used in smart labs, public services, and retail operations. Read more on the startup’s journey here.
A2: Endorsements and opinion leaders
The emergence of digital media avenues has spurred the rise of new age opinion leaders. “Building imagery and a consumer connect for the brand is no longer limited to celebrities,” explains Anupam Bokey, Chief Marketing Officer, Allied Blenders & Distillers.
“Brands can find intelligent ways of leveraging digital influencers who are seen as more credible and relatable, lending authenticity to a brand’s messaging,” he adds. This, however, calls for the brand to have accurate measurement mechanisms, and be agile for quick changes. Read more here.
A3: Websites and beyond
Franchise networks and implementation partnerships are effective ways of international expansion for ecommerce enablement. For example, platforms like Shopify, Wix, and Woo Commerce are being customised in a range of countries for local vendors.
Marmeto, founded by Shashwat Swaroop, has morphed from a website development company into an ecommerce enabler. “We build websites, apps, and enterprise solutions on Shopify,” he says. The startup is working with over 500 companies, such as Mobile Premier League, Epigamia, and MTR Foods. Read more here.
A4: Chat or calls?
Though live online chat offers uniformity and efficiency, there is still a lot to be said for phone support as well. Freshworks’ Chief Customer Officer Pradeep Rathinam advises brands to not ignore phone-based service – it can be used for urgent and mission-critical queries.
“With phone calls, you can build deeper connections and answer more complex queries that can help you win the customer’s loyalty,” he urges. Read more from a range of experts here.
A5: Enhancing online learning
Augment reality (AR) and virtual reality (VR) make learning more immersive – thus increasing focus and absorption, according to Uttam Kumar Pandey, Founder and CEO of Perceived Design.
“Additionally, AR and VR come with tracking and analytics mechanisms, which enables educators to keep a track on the progress of the students, understand their preferences, and monitor their learning journey,” he adds. Hybrid blended experiences can also be designed, which can improve soft skills such as managerial communication. Read more here.
YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).