Role of technology in business development

Role of technology in business development

. Day by day new techniques and methods are being enhanced because of technological implementation. Now it has become difficult to separate business and technology from each other. Technology has helped in innovation and innovation is vital for the business to attain sustainable growth. Advancement in technology has helped small businesses to work more efficiently in various ways like collaboration with remote team members and colleagues via video conferencing, to communicate with the consumers, etc.

Some of the major contributions of technology in business are: -

  • Collaboration – Organisations no longer need to maintain multiple documents, spreadsheets to mail them to every member of the team for review. Now with team collaboration tools and other online tools like Google Docs, the team members can review the documents and other information simultaneously. This allows the business to allow separate conversations at the same time, it saves time, it’s convenient and is also easier. Tracking schedules, fixing meetings and tracking the progress of the project can be done more efficiently now, thanks to technology.
  • Enhanced consumer service - Consumer service is the most essential thing for the business to succeed. Company websites are one of the ways to attract the consumer, webchat helps the business to reach out the potential consumers, engage with them, attain feedback and suggestions so that the product can be developed as per the needs and requirements of the consumer. When consumers need and preferences are considered it leads to higher consumer satisfaction and sales. This process can be automated with the help of request review software where an email or a text message is set up automatically asking the consumers about the product or service review.
  • Targeting audience – Companies can now target potential consumers on the basis of segmentation for which they can easily acquire information from online search engines like Facebook that provides information about the content searched by the consumer. Google enables companies to target consumers on the basis of demographics and keywords. Then the users who have previously visited the website are approached with similar products. This type of consumer targeting offers valuable information to the company on the basis of their segments.
  • Maintain work-life balance – Technology has surely helped in reducing the burden of employees and maintain a work-life balance. enhanced connectivity allows the employees to even work from home as per their convenience. A lot of Organizations have partial remote offices which also saves the cost of rent and electricity and other operational charges. Teams can work remotely in case of bad weather or when some family member is sick and they have to take care of them.
  • Online Business – Technology has opened up the way for online marketing. A lot of companies still believe in serving the consumers in person but there has been development in E-commerce in the last few years as the consumers get attracted to the convince provided by these e-commerce portals, the discounts and offers along with the choice availability.
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