What terms can be used to describe the modern business? Concepts such as innovative products, excellent customer service and superior salesmanship are certainly relevant. However, technology is playing a crucial role and its presence is only expected to increase. As a business owner, how can you capitalise upon this revolution in order to meet and exceed even the loftiest of expectations? Let’s analyze some suggestions that are both relevant and easy to implement.
Success Through Social Media
Did you know that 95 percent of adults aged between 18 and 34 years are more likely to follow brands that have a social media presence? We are all aware of the power of these portals and yet, some entrepreneurs have failed to leverage their benefits. It can be successfully argued that one of the best ways to reach your audience is through the sheer scope of social media.
Jumping on the Big Data Bandwagon
Data-driven analytics is another emerging trend. This is often simply referred to as “big data”. There are many insights which can be gained from this methodology. Some of the most important are:
- Knowing the buying habits of your customers.
- Appreciating the success of a new product or service.
- Understanding how a marketing campaign has impacted a certain demographic.
- Changing a specific sales strategy while experiencing as little downtime as possible.
The main issue is that interpreting large amounts of information can be challenging when traditional methods are employed. Many third-party technological solutions have bridged the gap between big data and everyday business operations. Utilising these services is another way to gain an edge over your competition.
Using Investment Applications to Your Advantage
Many business owners are turning to the world of investing in order to supplement their income. These funds can then be funneled directly back into the organization; helping to add an extra level of much-needed liquidity. However, some entrepreneurs are under the false assumption that they will be forced to sit in front of a computer for hours at a time in order to maintain a presence within this world. This is no longer the case thanks to trading-related smartphone applications. CMC’s iPhone mobile trading app is a perfect example of the synergy now present between technology and user-friendly architecture. Clients can monitor the markets, enact real-time trades and read the latest fiscal analyses with the click of a button.
The Mobile-Responsive Website
The role of smartphones is likewise critical for the business of the 21st century. Websites that are not compatible with mobile phones will attract fewer customers and as a result, prospective clients could very well migrate to your competition in order to procure a good or service. Mobile-responsive websites are another important metric to address. As each page will display exactly as it would when utilizing a laptop, the overall sense of familiarity will be increased. Visitors can easily navigate from page to page and ultimately, this leads to a higher ROI.
Business owners need to realize that technology is their friend as opposed to a virtual stumbling block. Please keep all of these recommendations in mind, as they represent powerful tools within your digital arsenal that should be exploited in order to cut out the competition.