Technology has been changing the world’s landscape in the most unexpected ways. It has impacted a lot of industries and it can be seen all around us. In the business sector, the technological impact can be clearly felt as the years go by.
Having and running your own business is not an easy feat. No matter its size, you need effort, determination, discipline and budget to make your business grow. As time rollovers, technology has been redefining the way businesses operate, promote, communicate and grow their brands, products and services. Technology has helped businesses bridge gaps and continues to thrive.
In this article, let us see some of the impacts of technology on how it aids the growth of a business.
1. Collaboration and Communication
One of the greatest contributions of technology to mankind is communication. It has become a core element in society and has connected families, friends and has been widely used in schools, the government and of course, in businesses.
Technology has made it possible for businesses to collaborate and communicate effectively and efficiently. It has helped organizations, teams, employers, and employees connect with each other in an instant. A few decades ago, written letters are used to send messages and still have to wait sometime before a message can come across. These days, with over 3.5 billions users of mobile phones, instant messaging apps, emails and calls have made everyone connected in seconds. Team meetings, remote tasks, and collaborative projects from anywhere in the world have also become possible even if you and your team are miles apart from each other.
2. Customer Service
Technology has also greatly influenced the way businesses interact and communicate with customers especially when it comes to supporting, providing product services and after-sales services. It has become easier now to gather feedback and information from your consumers that are essential to make your business a success.
Channels like social media, email and phones make your business accessible to your customers and for them to reach you for queries, comments and suggestions.
3. Operation
If you will go back several years from now, growing even a small business may seem an impossible task if you will have minimal manpower and a limited budget. These days, technology made it possible and allowed businesses to operate efficiently even with the given limitations.
Effective tools and software have also been developed that can aid in your growing your business. Inventory management, customer relationship management, office software, time tracking applications, project management, collaboration software, human resources management tools and financial systems are readily available to aid you in your business and can help streamline your cost.
4. Marketing
Effective marketing has been one of the areas where technology can be seen and felt the most. Marketing has been developing itself over the years from its most traditional methods like – print, radio, television and out-of-home advertisements. Although these methods have been proven and tested to be effective, it is the big businesses that are able to leverage these as they cost a lot.
As technology began to rise, be adopted in different and in marketing, in particular, new methods started to flourish. Digital marketing strategies like social media, email marketing, search engine optimization, website and blogging sites have become available. These strategies, social media especially, have become known and most used when it comes to promoting and growing small businesses. They are easily accessible and relatively cheap but have great potential for providing amazing and good results.
5. Research and Competitors Check
Just running and overseeing your business is not enough to make your business grow to its maximum potential. You need to continue to acquire new knowledge, new opportunities and the latest trends about your business’ industry. This will allow you to step ahead of the competition.
Technology has given you the ability to know your customers, learn about their needs and listen to what they are saying. You can use this to your advantage to satisfy your clients by providing what they want and need. However, your competitors are doing the same. In order for you to achieve an advantage, you ought to know and understand the competitive pit and the competing sellers.
6. Data Storage and Transfer
Storage on cloud services is one the most suitable option for businesses to store their growing data and even considered as one of the most brilliant technological advances there is. Cloud technology offers a secure way of preserving your data which can be accessed anytime. It is affordable and can be easily shared among your team and clients.
Backing up your data has been one of the most challenging in recent years however with cloud storage technology it has become simplified because of automation.
Final Thoughts
Technology has opened a lot of opportunities for different industries. While some might have an underlying negative effect, it should be important to note that it has been a catalyst to improve day to day operations and transactions especially for businesses. It has opened plenty of doors for your business to grow and all you need is to find the right strategy and balance.
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