4 Ways to Leverage Technology to Grow Your Business

Whether your organization is new to the world of smart tech or looking for an upgrade, here are 4 hacks that will help you grow engagement & revenue through automation.

Amilia
Amilia
August 27, 2019 4 min read

Smart technology has become increasingly ubiquitous in our lives as consumers over the years. Be it Nest to keep a tab on the temperature, Alexa to order things online or your Smart TV that links to your online streaming services, smart tech is everywhere. It is therefore only logical that businesses that deal with tech-savvy consumers must find ways to embrace and leverage technology in their product and service delivery.

Technology, when used with purpose, can help augment interactions with your customers by automating internal workflows and have a positive impact on customer retention and loyalty.

Whether your organization is new to the world of smart technology or looking for an upgrade, here are 4 hacks that will help you grow engagement and revenue through automation:

1. Give your customers the experience they deserve

One aspect of your business that stands to improve dramatically with tech is customer relationship management or CRM. Since 2017, billions have been invested in smart technology that helps organizations automate and improve their CRM. Some advantages of a CRM automation strategy include:

  • Reduced response time for online queries from clients
  • More time for your team to focus on larger customer experience objectives
  • 24x7 access to help for your customers

In an era where e-commerce and instant gratification is everything, nailing your online customer experience is a big part of any organization’s long-term success. With automation, you’ll be able to offer your clients unparalleled convenience and ease of access while also giving them the information they need without the constraints of a 9-5 workday.

2. Make informed data-driven decisions

Concepts such as machine learning are starting to play a critical role in eCommerce as more and more businesses turn to data analytics to find ways to boost their revenue. The data your business generates through its website, transactions and product or service usage is useless if you don’t analyze and draw actionable insights from it. Here are a few ways that tech can help streamline your data analytics effort:

  • Optimized collection, formation and organization of your database
  • The ability to design better products & services based on usage patterns
  • The ability to anticipate the needs of the market that help inform and enhance your business strategy
Marketing data analytics

3. Refine your marketing strategy

Speaking of strategy, one of the easiest ways to begin is by leveraging your data analytics findings to refine your marketing strategy. Whether you’re focused on content-based marketing initiatives through your website and social media accounts or looking to run effective online ad campaigns, smart technology will allow you to target a more specific audience and get a higher return on your marketing dollars. Here’s how smart technology can help with your marketing strategy:

  • Identify usage and consumer behavior patterns to come up with buyer personas
  • Construct detailed audiences for Google and social media ad campaigns
  • Create more effective ad campaigns that will reach and engage your target audience online

Automating your marketing workflows is a great way to tackle more important issues such as increasing your customers’ lifetime value.

4. Make your day-to-day operations more efficient

Lastly, your effort to leverage technology in business will have its limitations if your processes and project management approach aren’t optimized to make the most of it.

We can all relate to forgetting to do some of the smaller tasks (and sometimes even the crucial ones) because there’s just too much on our plate and we are yet to ace the concept of time management. Smart technology and the various time, task and project management tools can help you make the most of your time at work. Some crucial aspects of day-to-day operations that stand to improve with tech are:

  • Accounting and bookkeeping
  • Time and task management
  • Project management

Most businesses, if not all, stand to benefit by leveraging technology one way or another. All you need to do is a bit of research to find the tools that suit your business needs. When in doubt about whether a particular tech solution is worth it, compare the investment to the time you stand to save by implementing that solution over the next 1-3-5 years. If the monetary value of time saved exceeds the price tag, you know you are making the right decision.