Last Updated on August 18, 2023 by
It’s safe to say that whether you’re the CEO of a small local hub or one of the executives of a famous international corporation, your strategies revolve around expanding your company. You can take your company’s growth in various directions. However, you must first develop an unbreakable growth strategy before you do. This strategy should help you scale your business during expansion and maintain productivity. But the cornerstone of everything should be (yes, you guessed it) technology.
Technology brings innovation, which businesses need – to do things in novel ways and expand their customer base. Regardless, many businesses still haven’t figured out how to use technology. Thankfully, we’re here to spill it all.
In this article, we’ll share some of the various ways businesses can use technology to improve their chances of survival in a competitive industry:
Table of Contents
Let cloud computing take you forward
Even though cloud computing has been around for a while, business leaders now realize its prevalence.
It makes sense that businesses of all types and nature are moving increasingly toward the online world. Cloud computing offers improved operational efficiency across the board and various tailored applications. But the categorization and classification of your data also determine its storage and accessibility needs. For instance, to secure and manage your digital assets efficiently, investing in digital asset management systems is better to improve scalability and expand your database as your business grows.
Furthermore, to ensure efficiency and service accessibility, you must have a qualified team handle the migrations. It will allow you to stay viable and online without wasting any assets. Once the migration is complete, you can take advantage of all the advantages cloud computing offers, including technologies that meet your workers’ needs.
Develop your online presence using social media
Given that it can be one of your most effective growth strategies over the long term and that more individuals than ever before have access to online content. You have the chance of a lifetime to draw in a global clientele and easily expand your company to set foot in the international marketplace. To ensure long-term success, you should use all available digital strategies. Still, you might want to focus particularly on social media.
Social media is becoming more popular worldwide, offering a special opportunity to create a devoted brand following and an ongoing inbound marketing strategy. With social media profiles, you won’t need to spend a lot of money on paid advertisements and get the opportunity to make lifelong customers.
Improved, rapid, and secure communication
Due to technological advancements, businesses cannot use conventional phones. Besides, landlines and personal phones are not equipped to handle voice communications within and around your company. Nonetheless, Voice over Internet Protocol (VoIP) can help with that. You can benefit from lower costs and increased access when you switch to VoIP.
You’ll have complete portability, improved audio quality, and increased scalability. Additionally, VoIP gives businesses greater mobility with softphones and the ability to manage leads and existing customers. Most of the time, it has advanced features for all teams, small and large, and supports multitasking, reminders, contact management, and so on.
Utilize productivity apps
Both a businessperson and a worker are identified by their tools. The good news for business managers and owners is that they can use productivity tools made available by technology: equipment that can boost productivity while costing less. You only need a mobile device to use apps like:
- Trello
- Basecamp
- Asana
- Slack
- Podio
Many apps can be synced with their desktop counterparts and are offered free full or for a certain degree of service. These time-saving productivity tools will help you complete the right tasks quickly and effectively. Moreover, you can even utilize project management tools and software to boost project outcomes.
Improve accounting procedures
Our world is being revolutionized by technology, and for the most part, it is succeeding on all fronts. Businesses can run smoothly and have automated financials with specialized accounting and word processing software. Since accounting software tools can manage straightforward tasks with little to no room for error, accountants can refocus their attention on the activities that matter most.
Smaller companies that cannot afford full-time accountants have also found great success with accounting software.
Big data for handling information
More importantly, leverage big data analytics and insights to support your growth plan with accurate and indisputable data. With so much information being shared across the internet today, combining big data analytics with artificial intelligence is the only method for gathering and compiling enormous amounts of data effectively and without wasting time or resources.
When you have the relevant information, you can quickly and easily change your strategy, its tactics, and your complete approach. Big data offers several benefits for organizations of all sizes and nature. So, ensure to make the most of the emerging technology and leverage it for successful results.
Use CRM to manage your customer data
CRM is a system that can assist you in maintaining and organizing everything from customer contact information to particular marketing tactics. According to Forbes, CRM software can concentrate on several particular areas. These include marketing, customer data analysis, sales, and service operations.
Additionally, several collaborative CRM software enables businesses to share information efficiently and timely. You have the tools to target and attract new customers when you have various data linked together in a CRM system. Better yet, you can target current customers more accurately. A CRM platform groups information such as the services and products your customers buy and how precisely they use them.
Read More: How Technology is Helping the Fashion Industry Go Green
Conclusion
Technology will forever remain the cause of change for businesses. However, it is up to you to utilize its many offerings and resources to advance your company. You must thoroughly analyze your company to identify the best tools for streamlining processes and boosting profits. You will make deliberate decisions that are advantageous for the long-term success of your company by taking this action. So, use the information above to understand how you want to roll with what technology offers and set yourself up for success.
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