Use of technology in business these days is a growing necessity. It has given companies a new shape and an efficient way of working. Emerging technologies are helping business units in expanding and improving there working systems. These technologies are not only affordable by the large business owners, but the small enterprises can also easily afford them. Upgradation of technology plays an important part when companies are planning for future expansions. It also plays a vital role in making decisions. Companies should always keep flowing cash; it helps in keeping pace with changing environment and technologies. It is essential to be accustomed to the improving business surroundings if businesses want to earn the profit and satisfy customers.
This write up brings you a few examples of some emerging technologies which help in the small business expansion are also cost-effective:
Earlier business enterprises were situated at one place. Recently we have seen a concept of distributed team working together on the same database for different purposes.The team distribution is done because the owners are trying to expand their business in different regions. For this data sharing, cloud computing technology is used. With this technology, we can work on the same database in the different areas. This helps in keeping employees on the same page and connected to each other. Information and raw data are shared easily through Cloud Computing.
Online Business Model:
With offline business, you are restricted to one place of business. Online Business is another way of expanding business in different geographical regions. Through Online Business Model; the products and services are made available across the globe. The customer care team can interact with customers being in their head office and satisfy the needs and complaints online. Online Business Model provides small business owners a platform to get the global presence. It increases both; the customers and profit for the small businesses. Also, it is an affordable technique for expanding the business. This also gives customers a chance to choose among various products and select best out of them.
Online payments make business working easier, faster and convenient. Business owners can provide discount coupons, reward points and bonus points to attract customers to make online payments instead dealing with direct cash. Mobile apps like Paytm, PayPal, PhonePe, Freecharge etc. helps customers in making online payments. There are also DTH services that accept the recharges through online transactions.
Social Media And Internet
Nowadays consumers are well connected to various social media platforms like Facebook, Twitter, Instagram etc. You can use these sites to advertise your products and services, or else you can also make a service page or website to display your products and services. This would aware people about your online service. Presence on social media ultimately helps in shaping a healthy brand value.
Use of Mobile and Mobile Applications
If the planned small business is dealing with the online services, making a mobile app is highly recommended. The products and services are made available there at just one click for purchasing. Attract customers by giving discount coupons or referral discounts on downloading the app and for referring it to others. Website or app should be mobile friendly. Messages or emails can also be sent to inform people about your services. Mobile technology is helping small ventures in expanding their business with low-cost investment.
To satisfy customers and turn them into returning loyal customers; the business service should offer the best service every time. Live chats are an easy way to resolve customer query. Technology requires one person to provide help, guidance and solve customer query online. This will help worldwide customers by sitting at one place. Use of online surveys to get feedback about your product is another good idea.
Every business should always make provisions to protect their data and information, and so is the case with small companies as well. Much software is available in the market providing the security and helping in detecting threats. When you decide to expand the business; information is shared among more people working in a team for business expansion. By using a password or pin to unlock the information among users is suggested.
Regular staff training to update the employees on the current scenario and technology is a must. By training, they will work to provide the positive result. But arranging tutors and classes are expensive at the small business budget. Therefore online training sessions can be offered through PowerPoint or software can be developed for training sessions. Learners can give online exam and get certified; this will involve less cost and will be useful.
Use of several technologies can help you in running your small business smoothly and in earning business profit effectively. To survive in the market and to stand apart from the competition making use of the recent technology is a must. Rapid changes and improvements in the technologies are visible these days. Being a small business try to make use of technology the most to earn the profit and expand your business. Every time when technology is updating; employees should be trained and made aware of it. Making use of old techniques will make your work more tedious and will increase the cost.Thus, it affects the growth of your business. Make the best use of technology to enjoy its benefits.