Media technologies for business comprises all the tools and system that allow the production distribution, consumption and distribution of digital content in a digital-first age. They range from cloud computing to social media management tools, to predictive analytics. Integrated media technology (IMT) helps businesses streamline complex tasks, improves customer experience, and provides quantifiable business results.
The rise of new media technologies like streaming platforms, social media and immersive experiences have revolutionized the traditional business model and spurred growth in the media sector. Media technologies may not have created the global village Marshall McLuhan envisioned however, they continue to change the way we think about spatial and social relationships.
Streaming platforms enable users to access content via the internet which can reduce the cost and time to market for broadcasters, and providing new revenue opportunities. Streaming also gives more flexibility in the ways and places viewers consume media, and predictive analytics can optimize the user experience, resulting in higher retention rates.
As more media businesses transition to subscription or membership-based models, they will require sophisticated solutions that facilitate the entire customer lifecycle–including seamless signup flows as well as flexible payment models and retention strategies based on data. Subscription management software is a solution that help with subscriber acquisition, streamlined billing and dunning workflows that are automated, unified customer communications, and advanced analytics.
Integrating these new media technologies is a major challenge for small and medium-sized businesses. The option of partnering with an on-premise media provider can be a game-changer, as they provide seamless and unified solutions that allow small-scale businesses to deliver a truly omnichannel experience.