Technology is changing rapidly and while it presents a number of opportunities, it can also seem overwhelming. There’s a digital solution for almost every task these days and it can be difficult to determine what’s really worth the hype. If you want to run a successful business, you can’t jump at every piece of new technology that comes on the market. That being said, there are some developments you’ll need to pay attention to this year if you want to meet the needs of your target audience. Let’s look at some of the ways you can leverage technology in various facets of your operation.
Embrace the Power of Real-Time Data Analytics
The digitization of society and business has led to the collection of extremely large amounts of data. Data from social media, the Internet of Things, and customer relationship management systems, among several other sources, can be used to improve efficiency and customer service. Whether you want a salesperson to be alerted every time a customer walks into your establishment or you want to track clicks on a piece of web content, real-time analytics can help.
Of course, collecting the data is not enough. You’ll also need to have it analyzed so it generates actionable insights. Fortunately, you won’t always need to hire experts to do this. Open source streaming software like that offered by Imply.io can be used to store, query, and visualize event-driven data.
Invest in HR Solutions
There’s technology available to assist in almost every human resources function including recruitment, onboarding, training, and worker engagement. With today’s tech-savvy workforce, you’ll offer staff a better experience if you look into modern HR technology. You’ll find cloud-based tools that provide real-time data on which you can base your decisions and employee self-service apps that take some of the burden off of admin staff and management.
Automate More Aspects of Your Business
Automation can make a major difference in most businesses’ bottom lines. However, it was not always affordable for smaller businesses that didn’t have the resources to sustain a large information technology team. Thankfully, modern automation solutions can be integrated with your existing software, so you don’t need to be the most tech-savvy person. Explore ways in which you can automate customer service, accounting, marketing, and other functions.
Offer Customers a Complete Mobile Experience
In 2020, your website needs to be mobile-friendly. Customers are unlikely to spend time trying to deal with a site that’s not easy to navigate. Not only does your site need to be user-friendly regardless of which device a user has but it also needs to support mobile wallet solutions like Apple Pay and One-Touch. You also need to consider how you will implement mobile technologies even in a physical store. Customers now want to pay using their mobile phones instead of searching for cash or even a debit card. In addition, customers use their phones to research products while in store so you may want to consider using in-store mobile marketing.
Explore the Possibilities Offered by E-commerce
Don’t be intimidated by e-commerce giants like Amazon and Alibaba. Even small brick-and-mortar businesses can profit in the online space. If you want to expand your operation and diversify your product offering, this could be the way to go. Traditional businesses in virtually any industry can do business online. If you have a restaurant, you can bottle and sell your famous salad dressing online or create a digital recipe book. Similarly, if you have a fitness club, you can sell workout gear online. Even if you don’t create your own products, becoming an affiliate for related products or services can get you into the e-commerce market.
Embrace Technology This Year or Get Left Behind
Technology has disrupted business as we knew it. In a rapidly changing business environment, deploying the right technology can make your company more agile. It can also help you to create a better experience for both staff and customers. If you’ve been doing lots of repetitive tasks manually, it may be best to begin your tech revolution in those areas. That way, you can free up resources to seek out new business and grow your operations. As you seek to leverage technology, be sure to do your research before deployment.