Most people would agree we live in the age of technology, and most businesses can see major changes by incorporating a little of that technology into their business strategy. You can increase your profits by embracing the advantages offered by today's technology whether it is in presentation, communication or accepting new methods of payment.
Technology can play a big role in the way you communicate with your clients, potential clients, contractors, vendors, manufacturing source and employees. There are many devices from laptops, tablets and smart phones that facilitate communication. There are also many features included with these tools that can allow you to organize and update all your contact information for better and smarter communication.
Whether you have an e-commerce store or not, a website devoted to your business can be a great technological tool to build and expand your customer base while letting the world know all you have to offer. Advertising with TV ads or in newspapers will only reach a select and limited demographic area. However, a website has the potential of reaching millions of people. There are now over 400 million worldwide users that access social media sites on a regular basis. Having a website and marketing it strategically on social media sites is one of the best ways to use current technology to your advantage.
New Payment Options
With the recent boon in m-commerce, or the use of mobile money, businesses would do well to take note and start accepting digital transactions as it is expected to reach into an over trillion dollar industry by 2020. Accepting mobile money is as easy as having the right mobile device, an online merchant account, signing up with one of the mobile credit card processing services and downloading the appropriate application software. This allows you to accept mobile money no matter where you go and can increase your profits. This is a prime example of making technology work for you.
Technology Keeps You Relevant and Competitive
Having and using the latest technology sends the message that your business is doing well and is relevant. In today's competitive business market, any edge you can over your competitor will work to your advantage. If you have a website and your competitor does not, you are much more likely to have a better percentage of new customers walking through your door. If you accept mobile money and your competitor does not, you are going to pick up those customers while your competitor cannot. If you are able to video conference with potential clients, contractors and employees and your competitor does not, you have given yourself a phenomenal edge that will show up on your bottom line.
Most technology does require a small initial investment, but there is a great chance you will see a large return on your investment. The best way to decide which technology will be of the greatest advantage is to sit down and analyze your specific business, your market, your clientele and your mode of operation. Find the technology that will help your business in a big way.