The way business owners manage their businesses today looks extremely different than it did a century ago— all because of technology. Even the least tech-savvy business owners use some form of technology, but it will be more advantageous for them (and other business owners) to embrace the latest technology. Businesses use many different types of technology, including computers, software systems, networks— not to mention the latest technology like AI (artificial intelligence), the internet of things (IoT), augmented and virtual reality, robotics and automation, drones, and 3D printing. Here are a few examples of how technology has played a major role in the success of businesses.
Convenience for Everyone
Technological advancements have made it easier to run a business, but the benefits of technology don’t stop at business owners. With the rise of e-commerce businesses and regular businesses establishing an online presence, consumers are able to buy products from the comfort of their own homes.
This was especially helpful during the 2020 COVID-19 pandemic when many businesses had to shut down— and a big reason why many businesses have this feature now. The pandemic and technology have also made it possible for more people to work from home. Of course, remote workers existed before the pandemic, but technological advancements have made it possible for more people in more industries to enjoy the convenience of working from home.
Digital Marketing Allows You to Reach a Bigger Audience
Advances in technology have also made it possible for you to reach a larger number of people. In the past, marketing to your target audience was limited to a local area, but today, you’re able to advertise to virtually the entire world. Digital marketing is marketing that is done over the internet, and with over five billion people (63% of the world’s population) using the internet every day, your chances of reaching more people is greatly increased. Some examples of digital marketing include:
Social media marketing (the majority of internet users also use social media)
SEO (search engine optimization) marketing
PPC (pay per click), such as with Google Ads
Online PR
Native advertising
Inbound marketing
Email marketing
Content marketing
Affiliate marketing
Even if you run a small business and your target market is the people living in your town, you can still benefit from digital marketing. For example, if you’re the owner of a local restaurant, you can still engage with your local community online through social media. It’s also helpful to have a website because this can help tourists and other visitors discover your restaurant.
Improves Communication
Another way that technology has improved the success of businesses is through communication. While many businesses still use landline phones, they also use mobile phones (smartphones, specifically), and other forms of communication enhanced by technology, such as Zoom, Slack, and Google Hangouts. This also goes hand-in-hand with working from home— you and your team members don’t necessarily have to be in the same place to get work done. Technology has also made it easier for you to communicate with your customers. You can reach out to consumers on any of your social media platforms, and this engagement can help drive sales. There’s also automation: automated communication makes it possible for you to reach out to a larger number of people in a small amount of time. It’s not as personal as reaching out through social media, but it’s better than not responding to your customers at all.
Software Systems Make Management Easier
Software systems (a set of specialized computer programs) have been around for decades now, but advances in technology have produced much more sophisticated software. Businesses use simple software systems that everyone has access to, such as MicrosoftOffice, but they also use more complex software systems designed specifically to meet business needs. These include customer relationship management software, accounting software, and many other types. Businesses can also benefit from using managed services from companies like GSI. A managed service can make your job as a business owner much easier. It can also prevent software issues that are likely to occur. These are all examples of why you, as a business owner, should embrace all forms of technology, including the latest inventions and developments. Not only does technology make your job easier, it also helps you reach a larger audience and build a stronger connection with your current and potential customers. So if you’ve been on the fence about adopting new forms of technology, try out one or more of these listed above.
