Taking advantage of technological innovation allows you to commandeer your business in ways that would’ve seemed like science fiction just a few short years ago. You may think your business is able to adequately stay afloat just the way it is, and that may be true – for a time. However, if you haven’t yet embraced technology for all it has to offer, the sooner the better.
Considering the rate at which technology improves, it’s easy for anyone to miss the latest and greatest inventions, let alone if you are an entrepreneur with your nose to the grindstone all the time. However, the ability to adapt to an ever-changing environment is paramount in business. Only 12% of Fortune 500 companies operating in 1955 were still in business in 2016, and adaptability made the difference in survival.
In this article, we will seek to demystify the world of modern business technology and allow you to expand the tools in your toolbelt.
If there was ever an area to invest in technological innovation, it’s the safety of your data. There are a myriad of potential threats to your data that nobody thinks about when things are going well. This may include power surges, natural disasters, ransomware, or any number of additional complications. Thankfully convenient and intuitive cloud backup software is available at easily affordable costs.
Data breach statistics are clear on the matter: the rates of these cybercrimes are at an all-time high and show no signs of slowing. Thus, there’s never been a better time to implement a backup system. Your data is essentially the lifeblood of your business, and failing to have a plan in place in the event of the unthinkable can be costly or even deadly to your business.
Customer Relationship Management
Otherwise known as a CRM system, this is a tool for sales and marketing personnel. This is a digital workspace that contains all partners, prospects, vendors, and anyone else relevant to the conducting of business. When this system is properly utilized, it keeps all players are on the same page in regard to the notoriously finicky nature of marketing deals and event schedules.
When implemented as part of a larger marketing strategy, the power of social media can be incredibly formidable. It grants you access to massive swaths of potential consumers at little to no cost to you. With platforms like Facebook, Twitter, and Instagram, you are able to connect with customers and partners in dynamic ways that encourage interaction.
There is a phenomenon in psychology known as the mere exposure effect, which states that exposure breeds familiarity, which then facilitates preference. In other words, the more exposure your brand attains, the better. This is an area where social media really shines since it offers limitless reach. Take note that building a compelling social media presence does not occur overnight, but putting the time in will reward you handsomely if you keep at it.
In addition to the direct line of communication that social media grants you to clients or customers, an extra benefit is the availability of analytic data. This takes data associated with people’s preferences, interests, and disinterests and allows you to deliver your brand that your target audience finds compelling. This cuts down on time and hassle traditionally required to find an ideal audience.
Human Resources Management
This type of program is generally recommended if you have more than five full-time employees. These tools will allow employees to operate through a centralized portal, which alleviates some of the duties of the HR personnel. Modern HR platforms also feature automation that helps in the management of onboarding, vacation time, sick days, paid time off, and other typically tedious duties.
Internal Communication Software
Internal communication platforms allow for easy use among employees at little to no cost for use. Slack is one such company offering an attractive platform, as evidenced by its rapid growth. With Slack, you are able to create different conversation channels, as well as video conferences and objective alerts.
Live Chat Software
The fast paced world of business today means that customers are looking to deal with companies that can provide the quickest support in the simplest way possible. Because of that, setting up a live chat software for website is the easiest and quickest way to connect to your potential customers.
While this isn’t exactly a “new” approach, it appears to stand the test of time as an effective marketing strategy. Email marketing allows for greater familiarity and customer retention rates as they are reminded of your brand’s presence. Even if you delivered a quality product, they may otherwise forget your business if the initial exchange marked the beginning and end of the relationship.
Software like Hootsuite and MailChimp can help you stay in touch with customers via email. Many people still don’t have social media or are otherwise reticent about using social media to interact with businesses, but everyone more or less has an email, and thus have an avenue for continued communication.
Trends show that mobile technology is the way of the future. This puts pressure on you to make sure your website works cleanly on mobile devices. It’s great if your business website looks like a work of art on a laptop, but if the translation to a mobile device is cluttered and ugly, you have your work cut out for you.