How to Grow Your Business Through Investing in Technology
To grow your business, you need to improve operations, interactions with customers, and you need to work smarter. Technology changes things, good or bad is totally up to how you implement it in your business. You can speed up things, make them easier, or simply over-complicate it for your employees/customers. You see, it all depends on how you implement the technologies of the future to your very own business.
The best advice we could give for all the points listed here is, do not go overboard. Give the best of your thinking to create an amalgamation of futuristic tech and usability. This combination is very necessary, if it is off, your business will suffer rather than grow.
Now, we very well know that all these points won’t fit, or make complete sense, to any of you. But, you will somewhere down the line discover that all these points will be essential to your business at some point in time. Also, know that there are a million types of businesses, and obviously we can’t give you an example for every type of service you might offer. Read all these points with a preconceived notion, a notion that all business offers something, information, product, or services.
Implementing these technologies doesn’t guarantee business success, but if you do it right, you are going to:
- Reach more customer
- Convert more leads
- Retain more customers
- Encouraging people to join you
- Retain more permanent employees
Now that you have gone through the focus points, here are the areas you can revolutionize with tech, to grow your business:
1. Being accessible
You are not doing it right if your customers can’t access information about you on the internet. You already know how websites are an integral part of your internet profile. But a mobile app is a necessity these days, no matter the business type. A simple informational app can be more than generous, but you need to find something to offer as a gift to whoever decides to download it.
No matter the type of business, there will always be something extra to offer to prestigious customers. Be it a simple promotion, a thank you message, a gift hamper, or simply a discount to your own services. We know this is something related to marketing too, but offering users these, while they download your mobile app, is marketing + business growth.
Being accessible has its benefits, to exactly know how to use them counts more. The website and mobile app will also open up opportunities you thought were only for the sharks. You can embed AR/VR manifestation of your products, you can use AI for engagement, it’s totally up to you. You can take it to another level through what you can do to engage them in the way they have only seen in sci-fi movies. The extra layer of always being accessible comes along with using AI and AR/VR, which will give you the extra edge you were looking for.
2. Improving interaction/communication
Probably one of the most important ones out there, let’s split it into points, shall we?
i. Workspace software
The world is moving ahead, towards the gig economy. Hiring remote workers may be the last thing on your list if you haven’t had any or had a bad experience in the past. But it was probably only because you didn’t know about advanced workspaces.
The world has moved on from E-mail, and Whatsapp, the advanced programs are the new way to do. A web development company like ours (maybe linked or not TBD later) uses Slack, there are a few more options, you need to explore the software and then you would know why we use it.
So that was for better communication between employees, let’s move on to better communication with the customers/visitors. An Animoji can certainly improve things, not sure if in a good or a bad way. Adding Animojis to your chatbots, or to your VR interaction space, may add a pinch of newness and personalization in what you want to deliver.
Typical typing is now old news, and Chatbots aren’t moving too far ahead either. Try adding an Animoji of your customer service/interaction representatives for a much-required personal touch. But first see if it fits your business type, as that’s where it matters the most.
iii. Augmented reality
Most people nowadays have flagship phones which can run or showcase your product through AR. A mobile app as such would be capable of holding your complete portfolio and will be able to showcase it to the customer. This is something that certainly won’t be appealing for customers of many business types but could really work great for some.
As the most basic example, you can let people add your personalized and fancy Snapchat filter by adding a snap code. It depends on you how you want to approach them, but AR is going to play a huge part in the future.
iv. Virtual meeting rooms
You can literally take meeting rooms and convert them to something fun for all your employees. We are not talking about some next-gen holographic cell tube, we are just talking about combining VR and meeting rooms. While we may think the idea is a bit far-fetched, for now, it is easier to implement.
Just think about the B2B sector, business meetings are finally going to be fun enough to look forward to. With all you need, and in your comfort zone, you will be able to close all points of a meeting on great notes. The investment may be too much for an instance, but the return surpasses the cost.
3. Decentralizing everything
Security is the biggest concern amongst customers from all business domains. Decentralization has done may things for businesses, from groundbreaking secure applications to raising them money through ICOs, decentralization has seen it all. You can empower both your customers and employees through decentralization.
The serenity of security can certainly not be denied, the same security for everyone in the system (your business) will achieve something greater than just trust. We aren’t just talking about the admiration that you could decentralize with Blockchain, but baby steps certainly count.
Let’s talk about things you can change by implementing blockchain in your business.
i. More trust
Nothing on the digital ledger can be changed by any single entity, and hence improving trust between employees. This is why blockchain would improve the much lacking trust employees and customers might feel. Also, while it may be an experiment, moving on the blockchain can set you with some good publicity on top of the trust you build.
It is one of the most secure networks around, and no one can change the blocks or modify the content within. The greatest achievement of Blockchain is how it is immune to many attacks, and it questionable why Blockchain isn’t mainstream yet. The security will strengthen the trust between employees and their trust in you. Making security a priority should top the list in times like these, it will give the extra confidence employees and customers look for.
A sense of independence and empowerment could work wonders for both employees and customers at multiple levels. Independence from stress over data getting hacked can be count too. But, we are talking about self-empowerment when we emphasize the independence of customers and employees. Every node is the same in a blockchain, so it will be the employees, and so will be the customers.
4. Digital marketing
Digital marketing is the only way to go forward in a global economy for almost all businesses. It hardly matters if you could cater to the lot, the point is making your name heard to them. As many people know you, as good your business will grow and expand. You could use a lot of technologies for digital marketing, it is in no way limited to the internet.
Digital marketing accounts for the most influential kind of marketing the world has ever seen. It is only your imagination with the things you can do for successful marketing. Some models buy fake followers on Instagram to start with just so they seem famous. On the internet, you can be whatever you wish for. However, we are not here to discuss ways like buying fake followers, we are here to discuss how you can use technologies for digital marketing.
i. Social media
Something admirable on social media would go viral in no time, but it certainly doesn’t happen so often. You need to make a statement, one which cannot be shaken off so easily. Facebook has changed its policies over and over again, but people find ways through or around it. Find something, invent something, and let the world know about it through social media, as simple as that.
ii. Digital banners
You can actually get creative with digital banners, not just on the streets but on websites too. The marketing team should be creative enough for this to work, it is not a one-man job. Finding a good space can be tough, creating your own space isn’t that tough. You can explore the unexplored and add your wit to brand your business as brand new. Find a platform of your choice and add some digital mix for an amazing result.
iii. Word of mouth
Not the literal mouth, but you know? Digital mouth. People love things, and when they do, they tell it to their peers or parents or some other person. This is actually no marketing, but it could be designed in a way that works. Note that it needs to be psychologically tested first, it may be something fascinating, or useful, or just something people love about you. You can use some tech, as many people love the futuristic feeling, and create or amend something you want to market digitally.
Some of the points might make you feel uncomfortable, might make your users/customers uncomfortable too. The point is to make a statement, but subtly. Take these points and implement them with a pinch of salt, some might work, some may not. But if you find the balance, and the right way to do it, your business will surely grow to new, enormous heights.