Any growing business needs to be tech-reliant for it to enhance efficiency, improve performance, grow its profitability, and manage expenses. Attempting to keep up with the fast-paced technological changes could prove a daunting task, specifically for a business owner who is already burdened with tasks that must be accomplished for the business to remain afloat.

The following are technological categories that your business will need for it to improve the profit margins.

1) Embrace Mobile Technology

To-date, no technology has grown more quickly or gained better adoption than mobile technology. By the end of 2016, close to six billion people globally had used one form of mobile device. It is a number that is expected to hit seven billion by 2020. For instance, having a properly developed and widely tested mobile app can turn out to be an effective marketing strategy for your business, given that the world is increasingly becoming mobile.

Mobile app development was in the past associated with people who had special software coding skills. But today, this is no longer the case. Apple’s simple IOS bootcamp, for instance, has been teaching non technical users how they can easily create apps for their businesses. There is, therefore, no excuse why you should not be using this highly essential piece of technology.

2) Automating Marketing Efforts Enhances Efficiency

Small businesses can now carry out their marketing efforts with ease, thanks to the presence of marketing automation software. The tech has removed the need for a business to have in-house marketing teams. Its core advantages include the ability to come up with, and set processes that can be used to trigger a specific response, different segment messages, and score vital leads.

Additionally, CRM platforms can seamlessly link to the automation software. Sales and marketing efforts are, therefore, brought together, so you can get a 360-degree view of prospects or customers.

3) You Need to Start Using the Cloud

Most businesses have started moving their operations to the cloud and will not be coming back anytime soon. Usage of on-premise hardware and software is quickly becoming outdated, thanks to the availability of cloud-based tech like Dropbox, and Microsoft Office 365. The cloud-based solutions provide better flexibility, scalability, efficiency, and security with regards to access as opposed to the on-premise programs, which are the reason you should be moving to the cloud and not looking back.

4) Collaboration Technology to Unite Your Remote Workforce

The continued rise of the virtual or remote workforce means that collaboration tech needs to be a part of your business. The tech facilitates in uniting teams working from different locales. According to a recent survey by Virgin Media Business, about 60 percent of all office workers are expected to be working from home by the year 2022.

Collaboration tech can, therefore, bring your remote teams together, making it easier to access vital company data related to projects the teams may be working on. The tech makes it possible to save documents, call, and chat on a real-time basis.

5) Chatbots for Better Customer Service

Internet communication is experiencing a significant shift. The advent of computer programs and chatbots using artificial intelligence to facilitate communication with potential customers are behind the shift. Both small and big companies have begun latching on to the power provided by chatbots. They can be used for customer service purposes, as well as additional services, like pinpointing business locations, providing shipment notifications, and finding products in an ecommerce store.

Chatbots are the new business interface for the consumer to business, business to consumer, and business to business communication. So, ensure that your business is embracing these new technologies to stay afloat and always ahead of the competition.

 

by: Mikkie Mills