Innovative Ways To Expand Your Business Using Technology

Innovative Ways To Expand Your Business Using Technology

 Did you know that technology can cause your business to grow rapidly? According to research, 57% of companies say that leveraging key digital technologies is critical to their operations. Technology is currently playing a huge role in all aspects of life, including the business world, and you don’t want to be left out. Here’s how to expand your business using technology.

Target customers

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As an entrepreneur, consider using the many available cloud-based technologies to reach more customers and expand your business. Facebook, Twitter, and Youtube can help you to market your products and services on a larger scale. SEO will also aid you in reaching more customers through Google Search and other search engines. Also, use email marketing to communicate with both new and existing customers. SMS marketing also allows you to run promotions and loyalty programs. Again, if you aim to spread out your business outside of your local region (i.e., city or country), why not get a virtual office? Virtual offices assist businesses to extend services to new places and build a new client base. This expansion is achieved without having to bear the cost of leasing office space.

Get access to funding

When it comes to funding your growing business, technology can assist you right from start to finish. It aids in organizing your expenses, developing your financial plan, and finding potential investors. So many platforms exist to help you determine the possible funds and resources you will need as you expand. They also help you calculate the associated risks and potential value. 

Some of these platforms include Mint.com, iBank, MoneyDance, and other online loan calculators. Social media can also help to raise funds and connect you with potential investors. A lot of venture capitals looking to invest usually join various networking groups and forums for startups. You can, therefore, seize the opportunity and join such groups to get linked to potential investors. Aside from such investment ventures, there are so many crowdfunding apps and platforms that are willing to invest in your business idea. Some of these crowdfunding platforms are KickStarter, Lending Club, and Indiegogo.

Improve your customer experience

Consider integrating your website with technologies such as CRM, live chat, and other customer-centric software to improve your customer experience considerably. You can also use CRM with your customer support software, which will convert your customer emails into tickets that you can track and respond to. That way, your customers won’t have to be waiting on the phone to get connected to an agent. It is also possible to use social media interactions to handle customer grievances while preventing any negative marketing due to unresolved issues.

Increase collaboration and productivity

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You can use technology like Google calendar to schedule daily activities, to enable you to make the most out of your day and increase productivity. Inefficient communication is also a significant cause of low productivity and losses in the workplace. Thus, as a business owner, you can avoid this by quickly signing up for group messaging applications such as Slack and Fleep, where information can move across. It will leave no room for excuses from employees.

You may negatively impact your business when you wait too long or lag far behind before adopting new technology into your business operations. So, to stay competitive, create jobs, and increase your revenue, consider technology trends and how to leverage them for your business expansion.