How New Technology Can Fuel Your Business Growth
How New Technology Can Fuel Your Business Growth
If one understands the term ‘business growth’ well it means more than reflective prospects, how one can reach out to clients, create potential leads and convert them into real-yields. Reaching out to customers and retaining them is indeed the apex of business growth. But one has to seriously ensure, all underlying processes are well enabled to meet the functions and the target. These will collectively make one’s effort efficient and highly effective.
Most important key areas where you can implement technology to boost your business and benefit with added advantages are:
How can my business grow – the critical thing is you cannot make the numbers roll overnight and neither can you accelerate the growth automatically or just by pressing a button.
Experts too believe that this is an uphill task –but they also state that this is a work of patience, one needs to separate the BIG picture task into smaller units and work on getting them planned n executed one job at a time or maybe a quarter time and trust us you will see the positive results.
Top 5 effective and correct solutions that boost your business growth and anchor continuity:
Enhance the collaborative approach:
Inventive and innovative technology helps manage, measure and balance an organization from any corner of the world. Internal and external communications are well monitored, company partners, coordinate and cooperate to function seamlessly.
Smart Technology integration:
Old standards and procedures might be taking a toll on your capital expenses and assets, It’s time to migrate to technology –of course plan it well and in stages. The usual practice in an organization sees a pine and crest trend in terms of profit, however technology integration can eventually lead to higher positive curves and will automate services and processes that might be a hindrance in the path of development.
The rising demand that small businesses face is often ironed out with technology. Technology helps them enormously to meet the growing demand with minimal resources considering the investment point of view; an amazing yet perfect investment could be on the cloud solutions which can be metered with plus 1 or minus 1 depending on your organization’s requirement.
Manage security effectively:
We live in a country governed by rules, regulation and immense governance, the most effective way to handle and yet keep clear navigation throughout are to leverage technology; Implementing the right technology can be playing the best card and one of the secure ways to handle and administer the governance and regulatory needs. Technology gives us the right ability to leverage and access technology and strengthen security and competitive advantages.
Cloud -The new technology ‘Mantra’ –
More than 72% of the businesses have migrated to cloud-based technologies which are the most happening technology boost. An investment that does not burn your pocket and spill a large number of expenses. Cloud technology does much more than we can expect. It is based on the simple IT techniques but does not involve buying, installing equipment or hiring consultation services and year-on-year AMC signing. The cloud technology helps restore upfront capital cost and unpredictable maintenance that you have to forecast in advance so your business runs seamlessly. Cloud technology aims for IT cost savings, entails delivering a precise, consistent set of technology services with an added high-speed broadband network,
What one can conclude is that well-planned and operative use of technologies leads to cost savings and higher productivity yields, additionally; it controls cost and boosts the bottom line.
We have recognized a few key factors that help scale higher growth
- Higher customer engagement
- Lead supervision and management
- Document handling
- Productivity mapping
Lead supervision and management
Most of the time smaller and mid-size business organizations do tend to spend a lot of money towards generating leads and their effort to manage the leads falls into cracks and gets lost. Systematic lead management always involves organized and planned to follow up – these when implemented well lead to potential conversions.
What is the source of leads has to be analyzed from time to time since multiple sources do often confuse the purpose and the results vary from what the objective was set. Hence manage leads in an organized manner to ensure conversions are evident and a win-win situation for business growth and development.
Higher Customer Engagement
For you to progress towards business growth and developments, we need to critically understand all aspects of customer management. It is ideally the link between the client and the provider, the customer and the brand, the media with communication. Customer interaction conducted through various channels and mediums irrespective of them being online or offline.
Each of the channels may include personal interactions, interviews, messages, Print media, conferences, and other potential mediums that customers use to connect or communicate with a business.
Customer engagement has a higher influence on one’s business growth and the common perception is based on the various modes of direct and indirect communications that the potential customers make. To keep the client-customer business network stronger, the brand has to keep the customer engaged. This not only means increasing business yields but encourages them for long-term loyalty benefits which they appreciate.
“The spirit of building a super loyal program for our customers is to build a bridge that strengthens the client-customer relationship. To achieve this go beyond and wear your customer’s hat and think from their point of view, All the strategies are focused on not getting customers to spend more but standing right there as a committed partner when your clients need you. Build a loyal relationship with technologies that will allow you to implement critical strategies. Keep communication clear and information transparent”
Document handling for a business
Do you recruit more resources when your work volume increases and paperwork scales higher document management? Well, that is not the right solution. When your company deals with various documentation including marketing collaterals, customer-based documents, agreements, Payment Invoices m Performa Invoice or maintaining statements and various insurances – you ought to have a significant number of resources and an equal amount of time to manage the paperwork challenges.The time that will be wasted not only in managing the documentation, filing, and organizing but a waste of resources as well, who would be doing the monotonous work year on year. Without a well-organized, well-planned way of organizing, storing and collaborating and ensuring proper tracking of documents –your business gets hampered.
Document management is a critical aspect and to maintain secure and suitable handling, one has to depend on technology. Installing system software that administers, tally and manages right from document creation, disseminating and record-keeping – migrating to technology up-gradation is a must for business growth.
The formula for ensuring higher productivity in business is, directly and indirectly, related to business growth. If we take an example of an upcoming struggling business trying to have a grip in the market, it is pertinent for the brand to be aware of the productivity measures. How is its sales team performing, what is their target vs actual ratio? Are the results in positive variance and are they implementing effective selling techniques. A productivity map is a tool that helps us analyze our growth and ROI. This is the most critical factor that shows how the year is turning out to be.
The most effective way to check this is through automated services, as soon as you automate tasks, your sales managers can draw yields from their team in a click, they would no longer be feeding in things manually and conduct repetitive tasks – what they will focus is core selling and adapting to technology to save time and manage work efficiently.
This can happen when you have given your team the tool that will help them save time and meet the target and exceed them.
These might look adjustments with the monotonous job-flow but you will be able to see your sales team spending time productively and performing tasks rather than doing admin and data entry tasks.
Unproductive processes and uncreative communication amongst co-workers only results in productivity fatalities.
Try and check business in the middle of its hustling growth – you will be amused to find the results. It will be thriving and hurtling and interestingly growth will be continuous. Though the truth is ‘growth’ does not not announce its arrival or progress –it is not underlined or ‘bold’ insight –it is the financial numbers that scale and business excels.
A very important part of growth is technological impact. This is the most important game-changer. A company progresses rapidly if it has the technology in the right place and planned correctly–well how technology impacts business growth is an interesting read.