Innovation grows business. That’s why today I want to share with you a few tech innovations that small businesses can use to improve their efficiency and profitability. A popular idiom says, “the best way to predict the future is to create it.” As cutting edge technologies continue to gain traction, business strategies are evolving alongside. With all that’s new in the world, it’s sometimes hard to keep up! For this reason, today’s blog covers four tech innovations that will help keep your business on its toes!
Increase Productivity and Generate Profitability with tech innovations
Analytics and Data
In the modern world we live in today, businesses are amping up their technical skills to better communicate with their target audiences. The tech-driven and fast-paced nature of business means that analytics and data are playing a bigger role than ever in terms of business growth strategies. Data analysis can help businesses predict customer trends, interpret data, increase productivity and in turn, lead to smarter business decisions. I’m telling you this because data is all around us. You just need to know how to use it to your advantage! Collecting data, whether that be through Google Analytics, Chartbeat or any other analytic tracker, can allow businesses to track what they are doing right and avoid the things that may not be doing as well. Businesses need data analytics because it offers valuable insight into market trends, new opportunities and consumer behavior. The new world of data has unlimited potential!
If you have ever tried connecting with a company through a call center, then you know how time-consuming and frustrating the whole process can be. What if there was a way to aide customer interactions so that your questions can be answered in seconds with no waiting time? There is a solution, and that solution is chatbots! This futuristic costumer service tool is actually a computer program that companies use to effectively answer and solve consumer needs. These programs use Natural Language Processing (NLP) and Artificial Intelligence (AI) so that the bots can perform conversations. You might be wondering, Billy, why do I need to know about chatbots? If you a part of a business or company, chatbots offer automated customer support, can generate leads for you, and monitor consumer data. Therefore, chatbots are an easy way to improve customer service at little to no cost!
With all the effort it takes to successfully run a business, the added stress of having to manage software, resources and information can often result in high costs and the need of IT professionals. Cloud computing was created to allow businesses to share resources through one storage network. When you hear the term “cloud,” this term is actually just referring to the internet! Cloud computing offers flexibility, cost savings, and shared collaboration. For example. let’s take Dropbox. My team and I use Dropbox to share resources and data. Even when someone is not in the office, they can access what they need. Cloud computing boosts productivity and gives the option to access information anywhere. So long are the days of having to email documents back and forth!
Communication Platforms and Social Media
Whether you realize it or not, there are hundreds if not thousands of different ways to communicate. For businesses, communication platforms and social media have created a unique way to keep in contact with people that matter the most. In terms of WealthBuilders, we stay in contact with you all through our social media platforms, email, blogs, vlogs, and much more! Many of you live halfway across the world. Without our online communication, we wouldn’t be able to establish the meaningful relationships we have today. It is very rewarding to see an increase in your brand’s visibility simply through the use of social media platforms. Not only that, social media communication is a great way to network, generate partnerships, and even increase website traffic. Every brand is different, find the communication strategy that works best for you!
These are only a few tech innovations out there right now, there are too many to cover! If I missed any popular innovative tools that you use, let me know what they are in the comment section below!
Don’t forget, in two days, I will begin the early bird ticket sales for my annual WealthBuilders Conference! For this conference, we have an incredible line-up of speakers. For the month of November, you will get access to the lowest priced tickets for the whole event! You will hear about it on my email list, so make sure to enter your information below. To find out more about the conference, click here.