4 Ways Tech is Powering Growth in the Business Industry

4 Ways Tech is Powering Growth in the Business Industry

Technology has given businesses the opportunity to be forward-thinking in the ways that they scale and create their products/services. There are now more personal ways to connect with customers and sell what you are offering to them and they are already so easily accessible to businesses.

It can be hard to know where to start or how to go about certain situations but tech goes a long way in helping businesses be more informed so as to be able to make important decisions that will positively affect the business. The advancement of technology is allowing teams within businesses to now work more efficiently and effectively reach their goals quickly, and with ease.

Below are 4 ways tech is powering growth in the business industry today.

Increased visibility and customer base

With the right technologies, businesses tend to reach more of their target audience no matter the time of the day. Take social media platforms for instance, with the likes of Twitter, Facebook, Instagram, LinkedIn, google my business and so many others like them integrating content marketing features, businesses that take advantage of them tend to reach a wider audience with interests in the kind of products/services they are offering. This sure increases the visibility of a business way beyond its locality, at a really affordable budget.

Easy communication with customers

BizFluent describes how technology and great customer service go hand in hand. Customers can be really demanding but using a tech-infused customer-centric business model can help you win them over and keep them for much longer. 

In this age of innovation; lots of startups are creating tech solutions. There are a few effective tech solutions that center around customers. For example, the CRM (customer relationship management) tools like Salesforce and Microsoft dynamics that businesses use to track customer data in order to understand their behaviors and needs. 

Having the knowledge that these CRM tools generate, you can tailor the way you communicate with customers, to individual behavior, or integrate features that will help your business accommodate the patterns throughout your customer base. 

You also have the opportunity, through social media platforms, to engage with customers instantly.

Increased Productivity and Collaboration

In the past, when there was a need for more than one person to work on a document, they had to be in the same room to do that. Still, only one person could work on it at a time and when these collaborators do not have the opportunity to be in the same place at the same time a lot of time is wasted. This is because they are trying to move the document from point A to B so that each collaborator can review and put in their own quota. 

The back and forth changes/corrections can be time consuming and exhausting but with the emergence of new and advanced tech solutions like google docs and Figma that allows more than one person to work on a document at the same time, there is a hundred percent increase in collaborative productivity in businesses that take advantage of these tech solutions.

Other ways for easy collaboration among teammates that for some reason, can’t be in the same place at the same time is through video conferencing (such as zoom, google meet, skype), collaborative documents (eg, Evernote, google drive), virtual office environments (eg, Sococo), and other related tools. 

With these technologies, it is easy to communicate with other collaborators anywhere, anytime, and with minimal interference.

Tech also helps to automate regular tasks

Creating Invoices, drawing up payrolls, are little routine tasks that can be automated using software like Accounteer. Being able to automate these regular/routine tasks can cause a positive reduction in expenses, minor mistakes and potentially free up more time for you to go about other major tasks and activities. 

Read also: How to become an innovation-first hub

Key takeaway

For new and already existing businesses, integrating tech innovations into your business is key and would go a long way in achieving better and improved productivity for your business. All you need to do is:

  • Start simple. Create new accounts for your business on major social media platforms. This will help you connect with and engage your customers. 
  • Look out for software that can help you automate routine tasks like invoicing and payroll so you can have better time management.
  • Consider using new and better collaborative tools for your employees. 
  • Finally, almost every collaborative tool works only with the internet so make sure that your business/employees have access to the internet speed and bandwidth needed to meet the demands of the business.
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