Around 45% of businesses don’t survive their first five years. One of the biggest problems for these businesses is that they don’t grow enough to continually earn money.
The best way to make sure your business has a chance at success is with business technology. This is technology geared at optimizing business growth.
Keep reading to learn how you can use technology to drive business growth!
Digital Marketing
Digital technology is one of the biggest players in the marketing industry these days. The internet and social media apps let you engage directly with your customers. Algorithms also promote your business to those most likely to use it.
This makes marketing efforts more efficient, resulting in improved sales. So, good digital marketing is an essential element of your business growth strategies.
Business Management
Business platforms that allow for easy employee communication, conferencing, and cloud services are vital for growth.
When all business communications are happening on the same platform it boosts efficiency. Most employee communication systems now include conferencing technology. This makes virtual meetings much easier to coordinate.
Before, these platforms would be software employees have to download, but now they all exist in cloud systems. Cloud systems are online spaces that your employees access through your business account. They are central points where everyone can upload their work or information.
This centralizes your company’s workspace. Most clouds have good backup systems too, so your business is protected.
Not only are cloud platforms more efficient, but they’re also cheaper! One slightly more expensive subscription works out cheaper than several across different platforms. Saving money means investing it somewhere else, and promoting business growth.
These singular cloud technologies are vital if you want to grow your business. Check out the SAP Business One Cloud pricing guide for more information.
Productivity Tools
Implementing productivity tools and employee rewards programs are great ways to track and encourage productivity.
You’re able to see where productivity is lacking and can conduct analysis to figure out why. This way you can address the problem and improve productivity. This translates to more money for your business.
When you start tracking productivity, it’s a good idea to implement rewards programs too. Employees don’t like being monitored too closely, but they do enjoy acknowledgement for their hard work. Rewards programs boost morale and improve productivity.
Optimize Everything for Mobile
Mobile phones contribute 55% of internet usage. This means most of your customers are on their phones when engaging with your business. If your site isn’t optimized for mobile viewing, you’re losing a huge percentage of your potential sales.
An app is an even better use of mobile technology for business growth. This way your business is even better suited for mobile usage. This is usually more appealing to your customers and can lead to more purchases.
Using Technology to Drive Business Growth
Technology is a helpful tool in so many factors of life, especially in business. Promote business growth by incorporating these technologies into your company. You’re bound to see success.
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