As technology advances, businesses need to adopt the various tech solutions available to gain a competitive edge. Below are seven tech-oriented options that can help your business level up.
- Enhanced Communication And Information Sharing
To share information when doing business demands communication, which is easier, faster, and more efficient today, thanks to the available technology. Applications such as Microsoft teams, Google meetings, Slack, Zoom, chatbots, and various social media platforms being used to share and communicate – are resources that businesses can leverage, realizing their advantages and drawbacks.
Companies can track buyer-seller conversations and even rely on analytics that helps them understand user behavior. With tech advancements birthing deeper intelligence, it is easier to obtain customer/client information that can be leveraged to enhance the consumer experience. As such, the effectiveness of how communication can help fetch customer information is dependent on leveraging technology.
Automated communications can help companies bolster their marketing productivity. Personalized messaging can be an efficient strategy for reaching new consumers. However, if not done with caution, it can lead to the loss of human touch in brands and possibly negate the ability to build long-term customer relationships.
- Mobile-First Business Settings
Remote management is catching on, and this has seen many companies adopt a mobile-first approach to their business environments. From content marketing and sales enablement to invoicing, shipping, and other elements associated with customer relations, things are a simple as a click of a button.
However, going “mobile” should be a holistic approach, cutting across the employees and clients or customers. The millennials (Generation Y) are dependent on mobile devices to sell, buy, and socialize. They use these gadgets to share their experiences with their friends, acquaintances, and strangers. It is a situation that has seen significant changes in how marketing is done.
Mobile technology has changed how we stay in touch, making things easier and more accessible. Employers and employees can communicate via video calls or text. Marketers can send targeted ads and promotional materials to pre-qualified customers. In short, mobile technology coupled with communication software has resulted in a hyper-real network of real-time information that businesses can access and leverage at a moment’s notice.
- Remote Working
Working remotely is a concept that has made significant strides over the past decade, with the corona various pandemic promoting is adoption. The Covid-19 situation forced businesses to embrace remote work, and the transition for some companies was faster than expected. But this has turned out to be a positive thing. Remote working is thus here to stay.
Companies had to readjust and ensure their workforce had access to the appropriate technology and infrastructure to ensure their teams had secure remote log-ins, project management tools, and adequate bandwidth to see the employees continue working from home. The situation brought about the need to focus on employee output instead of how many work hours are spent. Read this article – What is QI wireless charging to discover how it will help your business run smoothly.
The new “normal” makes it easier for companies to attract and retain talent, which results in improved productivity. A two-year study from Stanford showed an incredible productivity boost among employees that work remotely, which is equivalent to a day’s work over a week. The study also showed that remote working saved significant costs in real estate, made businesses scalable, and lowered carbon emissions.
- Embracing AI Technology
AI (Artificial Intelligence) is revolutionizing the world of business, with its impact transcending consumer markets to the mainstream way of life. AI has changed various business processes across different industries to the point it has become a crucial part of their strategic planning regarding how to have a competitive edge. Artificial intelligence can be found in security, CRM, to machine learning, resulting in faster and accurate data processes in various business sectors churning out information that people can digest.
Companies seeking to bolster their sales enablement rely on AI to track buyers, predict their purchase habits, the information they view and open online, among other things. AI is so proficient that it has various quarters in the commerce sector worried that it will lead to forced joblessness. However, some experts believe that this will necessitate the creation of new jobs or roles designed to facilitate the transition.
For instance, artificial intelligence continues to replace long-standing workflows, and its integration seems compulsory. The technology is evolving at lighting speed but with an unknown effect; however, it is projected to impact the economy positively.
- Increasing Functionality At Decreased Costs
In the realm of software solutions for businesses, the “buyer’s market” is a composite of two elements. The first is a blend of hardware and software needed to develop the solutions increasingly accessible and affordable. The second is an increased number of tech-savvy entrepreneurs who are ready to peel back the barriers.
What took a multi-million-dollar corporation several months to create now takes a few weeks for a fresh graduate to develop. And given the pace and diversity in the capacities involved, the solutions are produced and offered at affordable rates. Moreover, they are designed to be applicable in any business without hiring dedicated staff or outsourcing via long-term service contracts.
- Buyer Enablement
Buying in today’s world is complicated. Buyers spend the first 60% of their journey wading through the unknown while dealing with different content, market influencers, and stakeholders. As such, buyer enablement, when done correctly, lets consumers (buyers) champion the product inside the business or market.
Success is pegged on the seller partnering with the buyer when determining the problems to address and how to provide relevant information at the right time that will help the customer be happy with their purchase. Prioritizing the buyer’s needs throughout the buying journey and positioning themselves as trusted advisors will see sellers hone buyer enablement.
- Increased Collaboration
Gathering in front of a whiteboard to brainstorm ideas during the weekly meeting, chatting in the break room, or the elaborate “business” bunter while walking down the halls in the office all point to the effectiveness of collaboration. A report from McKinsey Global Institutes suggests that more than 60% of employees’ time entails gathering information. It can be sending or responding to emails, among other things.
Overall, such collaboration can be done effectively and with ease using tools like Slack, Google Drive, SharePoint, OneDrive, and Google Docs, and more. The tools simplify how teams work, increasing their capacity to discuss projects, share, collaborate, organize tasks, and store project data. Overall, the tools will align people and the company’s goals, providing real-time insight into managing projects and how teams can be more productive and efficient.