Technological advancement in the business environment keeps on evolving, and you need to embrace the latest or upgrade the existing technology regularly. Failure to adapt to the changing environment can lead to serious business repercussions for your company.
Automation of processes, integrating the latest payment methods, and enhancing your customer service is vital to sustaining your competitiveness. Today, customers are willing to associate themselves with companies that can respond to market changes quickly.
The following are amazing technologies that your business needs to embrace to grow.
Customer Relationship Management Software (CRM)
Clients make up one of the most important components of any business, and a rise in client base is the catalyst for business growth. Nevertheless, as your company’s client base expands, it becomes challenging to manage individual relationships with them. Therefore, adopting a CRM technology is the best alternative to help you manage your clients at an individual level.
A CRM is a cloud-based tool that can offer your business various benefits. The benefits of integrating this technology include customer acquisition and retention, project management, lead conversion, and lower marketing expenses. A CRM can also help your business increase its revenue and is compatible with other crucial tools, including Office 365, Google apps, and emails. Thus, this is one of the amazing technologies your business needs to try.
In the modern business environment, cloud storage has become a popular technology increasingly being adopted by many businesses. The technology offers your business a convenient, secure, and accessible storage platform.
Cloud storage involves storing your company’s client details, files, inventories, and other useful data virtually. The benefit of embracing cloud storage is that it eliminates the risk of maintaining paper records. Instead, it offers a secure, accessible, and expansive storage platform for your business. Also, cloud storage allows fast retrieval of data from any location using an internet-connected device.
Digital Payment Platforms
Research conducted by Statista revealed that in-person mobile payments were expected to increase up to $23.4 billion by 2018. If you’re searching for strategies to develop your business, you have to incorporate digital payment systems that allow instant credit card processing. Adopting digital payment technologies help streamline and speed up payment processes, leading to fast business growth.
Whereas the adoption of a new payment technology may seem to inconvenience at first, eventually, it will attract tech-savvy clients. As indicated earlier, most customers prefer to transact with a company with the latest technologies as they offer convenient solutions. Therefore, a digital payment system is one of the best technologies your business needs to try.
Chatbots are an excellent technology that can be a game-changer for your business. Chatbots enable businesses to provide their clients with 24/7 customer support – minus the costs of employing a full-time customer support worker.
As projected by the Business Insider Magazine, over 85% of customer service connections would be carried out by chatbots by 2020. Therefore, chatbot technology is expected to become the alternative strategy for businesses to manage their customer support department. Technological solutions such as LiveChat and Zoho can assist your business offer automated customer support. Thus, chatbots are amazing technologies your business needs to try.
Social Media Marketing
In the recent past, businesses across various industries have shifted their focus to social media marketing. Social media technologies offer an excellent way to reach many potential clients at the same time. Besides, these technologies offer a relatively cheap method of advertising.
Studies indicate that over three-quarters of the U.S.-based clients bought goods they saw in a company’s social media post. This means that social media is an efficient and cost-friendly way to target and reach potential clients. As such, social media is one of the best technologies your business needs to try.
Today, there are several technologies that your company can leverage to gain a competitive advantage in the market. If your company is small or medium-sized, adopting the right technology can help enhance employee productivity, acquire and retain clients, and expand your customer base. A few of the technologies your business needs to embrace are digital payment platforms, CRM, cloud storage, chatbots, and social media marketing.