In today’s fast paced business world, technology has become as essential to success as a great idea. It’s a real equalizer that puts even the smallest business on equal footing with the big players.
To grow your business you’ll need to harness the power of technology and use it to your advantage. Here are seven ways you can do just that.
Out with the old and in with the new. Can you downsize some of your business’s hardware to become a more mobile, flexible organization? Getting rid of excess baggage like desktops, monitors, servers and network switches will save your business money and reduce clutter.
Savvy business owners are constantly looking towards technology to reduce their expenses and to become more sustainable. Finding the right sustainable solutions for your business can translate into time, waste and cost savings. Ask yourself:
You can find out a lot about your customers simply by examining your sales data, or by installing a system that collects certain information about each customer and their purchase.
For example, you might want to find out the times of day when most customers purchase from your business. Knowing this information could be a catalyst for running price or bulk specials at these times of the day.
There are opportunities to advertise to your target market on social media. For example, Facebook lets you make an advertisment and choose what type of audience you want viewing it.
If you have a Twitter account for your business and you want to get more of your tweets viewed or gain more followers, create some Twitter ads. First choose the location where you want to reach potential customers and then set a budget for your promotional tweets. Be sure to promote tweets that link back to your website or blog, rather than general tweets about your industry.
The modern smartphone is essentially like a mobile office. Use it to manage meetings, track expenses, autotype emails, and stay organized.
Provide your sales staff with mobile ordering software that’s linked to your inventory so they can process sales on the go. And speed up your receivables process to get paid quicker with online banking tools such as a web invoicing service.
How much could your business save by dropping your premises and going virtual? Many businesses are already completely virtual, with no physical office and employees spread across the globe. The advantages for your business include:
Changes in technology have helped shape the way for businesses to try alternative business models. Some examples of the past few years, like Airbnb (which facilitates person-to-person exchanges) and FedBid (which harnesses reverse auctions to sell products and services to the first willing buyer) show that an innovative business model can be successful.
Is there an online model that you can utilize to make your business easier and ultimately create more sales opportunities?
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