Say goodbye to the lockbox cash register. It's doing you no favors.
New technology in business will not only increase productivity and strengthen customer loyalty to your brand, but expand your business in new and previously impossible ways.
Adapting new technologies in business creates worlds of possibilities, but also potential threats. Many small business owners are hesitant to bring in new technology because we tend to avoid unfamiliar and seemingly unprotected ventures.
But of course, there's small business technology to protect you from threats as well.Here are five ways to upgrade your company with technologies in business.
1. Learn More About Your Customers
Incorporating technology in business could be the difference between a failing, long-forgotten company, and the hottest new business people can't stop talking about.When you incorporate technology in marketing and business intelligence, you can manipulate large amounts of data easily to pinpoint what's most important for your growth.
Purchase software that allows you to manage social media accounts from one central location.
Small business technology that empowers you to identify customer and market trends is the key to staying relevant in your industry.
2. Maintain A Relationship with Your Customers
Customer relationship management (CRM) helps you sell products and services consistently by keeping track of your clients. The more you understand and communicate with your customers, the more likely they are to continue supporting your business.The best CRM for small business should:
Store prospective customer data with identifying information. This allows you to address groups of potential customers with targeted the information they are likely to be interested in.
Manage customer data. The customers you already have should be your top priority. CRM's allow you to easily contact them via phone or an email with relevant promotions.
Monitor incoming communications from your customers. Gather all customer emails, calls, or messages in one place.
Automate the process of finding new clients, and track movement related to product pipelines.
3. Track Your Inventory
Inventory management technology could save you the company from bankruptcy.Digitally monitor incoming and outgoing products to avoid costly clerical errors.
4. Manage Your Finances
One of the most beneficial technologies in business is finance management software. From programs that automate filing your taxes to bookkeeping and accounting software, technology is a big money saver for small businesses.It could also be a huge money maker. Accepting payments through Venmo, PayPal, Google Pay or Apple Pay makes it easier for customers to spend their money with you.
5. Protect Your Security
As you adapt more tech in business, you become increasingly vulnerable to cyber threats. In 2017, 179 million records fell victim to breaches in data security.The last thing you want is some criminal hacking into your finance software and stealing all your customers' credit card information.
Don't Stop Learning, Keep Expanding Your Business
The exponential growth of technologies in business, health, and our daily lives can seem overwhelming. How could anyone possibly keep up with all the latest innovations?You don't have to dedicate 10 hours of your life every week to find precisely the right technology for your business needs. Just read a little bit every day and see what great solutions you happen upon.
Check out our how-to posts for some creative business technology inspiration today.
