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Monday, April 27, 2015

Three Ways that Technology Could Improve Your Business Processes

In the world of business, there are very few businesses that could function without the aid of technology. Even those that were able couldn’t hope to compete with their more technologically savvy competitors. After all, in today’s commercial landscape, technology provides the primary means of finding customers, retaining them, and fielding their enquires. Without it, there would be no websites, no useful accounting software, no email marketing, no online referral schemes, and no social media to help refine and improve the image of your brand.

Despite this, very few businesses manage to fully maximise the technology that’s available to them. The functions it can perform are almost limitless, from helping to get your company name out into the big wide world, encouraging referrals, and creating a more intimate relationship with your clients, to tallying figures and keeping track of stock levels.

If you need to step out of the Stone Age and into the modern world, here are three ways that technology could help you…

#1. It Can Improve Client Retention

One of the most useful functions of modern technology is that it can help to significantly improve client retention levels. On average, it is estimated that most businesses find less than 20 per cent of first time customer’s return. However, software from companies like Phorest has been specifically created to improve client retention through social media integration, booking apps, and a number of other marketing tools. For those who prefer a more DIY approach, similar results can be achieved through online loyalty schemes, email marketing, and continued liaising with customers through platforms such as Facebook and Twitter. Companies that have implemented these strategies report improved retention figures of around 75 per cent.

#2: It Costs Less Than Traditional Marketing

An added boon of familiarising yourself with modern technology is that it provides a brilliant marketing platform for your company – one that you don’t even have to pay for. It’s incredibly easy to make a name for yourself through Facebook, Twitter, YouTube, and your own company website. You can even liaise with blogs to help increase your profile and get your name out there. In fact, online marketing has been shown to be around three times more effective than more traditional forms of media, meaning that you could get all the benefits of standard advertising for a fraction of the cost.

#3: It Can Help You to Reach New Audiences

Another major benefit of harnessing the power of the internet is that it can help your business to reach previously untapped markets. Around 92 per cent of 16-25 year olds regularly shop online, and studies have indicated that Google, Facebook and Twitter are key tools employed by them to find new names. This means that by simply improving your online profile you could massively increase your potential customer base, sales, and profits.

Isn’t it time that you took advantage of technology?

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