Technology is the answer to most modern problems. As our society is getting more inclined towards virtual modes of payments, businesses are also trying to harness the potential of the technology for their success. While some organisations have already implemented the technology, most companies are gradually making technological advancements to reap the benefits of technology.
However, it is never easy for a company to overturn their existing system and implement a new one. The process becomes costlier when companies have to train their employees to use the new system. So, if you are wondering how to use technology strategically to maximise company profit, here are 8 fresh ideas to help you.
- Manage projects easily
Technology plays a big role in saving time. Companies can track their time and progress and stay on course to complete the project in time. There are numerous web-based project management tools that help business owners manage their projects efficiently and effectively. A few examples of such tools are –
- Manymoon
- Basecamp
- Podio
These tools can help you share documents seamlessly and work by collaborating with the entire team.
You can also use an app like Roambi to record business data, analyse it and present them as graphical reports on a tablet. If you are an Apple user, there is another excellent tool for business owners with iPads called Keynote that one can use to create accurate presentations.
If you are in the construction or remodelling & repairing business, you may need to make “before and after” structures to show your customers. These visual aids can convince the buyers to choose their product. However, making such models are time-consuming and difficult. But sellers can now make online models using AutoCAD or ER/Studio and present them while at home. These tools make the whole process much easier and affordable, thus helping the business to grow.
- Use productivity apps
Any businessperson can increase their productivity by using tools that are designed to boost productivity without compromising the costs. The best part is you need minimal infrastructure to use these tools. We can use certain apps by installing them on a mobile device, like –
- Trello
- Slack
- Asanaand many others
Some of these apps may cost you a minimal charge. However, you won’t mind paying these charges since they boost business productivity. There are several free tools as well that may not be as effective as the paid tools but can still provide you with the necessary support. You can simply sync them with your system and perform your daily tasks in lesser time.
- Optimise online payment systems
Today many online business houses have expanded their operations beyond regional boundaries since they can receive and send payments anywhere. Web-based payment options have added a new dimension to these businesses to reach new customer bases.
Since web-based payments have abolished the requirement of a physical presence to pay someone, customers can now buy whatever they want while sitting in a different country and paying immediately. This trend is also changing the buying pattern of the customers. They now prefer to shop from places with multiple payment options.
- Increased use of backup software
The emergence of technology has also brought certain perils of its own. While business owners can buy, sell, communicate, and pay more easily, it also makes them vulnerable to malicious threats. Several software and hackers keep tracking your activities if you are not careful. This can lead to a data hack, disrupting the company’s reputation and trust apart from financial losses. Irrespective of the company’s size, such threats can crumble your entire organisation structure.
Hence, most companies are using AI-based software as protective measures. They are also investing in buying backup drives to quickly recover any data in case of any suspicious activities. These tools stay vigilant 24/7 and are designed to flag any suspicious activities.
- Measure user engagement
Small and medium enterprises depend a lot on data analytics to survive. Using data analytics, they can get valuable user information to innovate, make or modify a product. So most online business owners rely a lot on Google Analytics to track and record their user engagement and assess customer loyalty.
Another popular user engagement tool is Userpilot. Many businessmen use this tool to get detailed statistics about their customers’ loyalty and engagement. It detects which part of your audience is less engaged and offers targeted solutions to improve your conversion rate.
- Use social media platforms
You cannot undermine the role of social media in today’s world. Facebook, Instagram, and Twitter are getting even more prominent in promoting business growth. Makes pages and uses paid features of the apps to launch targeted ads and posts regularly to increase the visibility of your page. Many people use Facebook Live, videos, images, hashtags, etc., to make their products more visible. The major advantage of social media is that you can easily reach many customers crossing any geographical borders with minimal expenditures.
- Change in marketing campaigns
Innovation is a crucial element for the improvement of any business. Traditional advertising methods did their part; however, to attract a new generation of customers, every business needed to think outside the box. Digital marketing is changing the way we are accustomed to seeing advertisements.
The new age marketing campaigns are using innovative methods like 3D advertising, Memes to make the products more relatable to the audience. So, this change in marketing campaigns is also positively affecting the business sales of the companies.
- VR Assistants
VR is a new technology that only a handful of online companies have implemented. Virtual assistants are a sneaky way to offer tech solutions with a “human” touch. Although there is a significant cost associated with using VR assistants, many small companies are now buying this technology to grow their business.
A few common examples of VR Assistants are Prialto, Upwork, Fancy Hands, Magic, Wood Bows, Belay, etc.
Summing up:
Technology has been proved to be the best and fastest way to kickstart your business and take it to the next level. So, no matter if you are a small entrepreneur or the CEO of a multinational, give your business the boost with these hacks and witness unmatched growth and success!
Author Bio:
Jacob Holt has been offering tech assignmnet writer to college students for a long time as a professor. He has recently joined Essayassignmenthelp.com.au and offers assignment help as an assignment writer.
