No doubt that technology has changed almost every aspect of our lives. Look around you and you will discover how technology plays an important role in our daily life right now. And thanks to computer and the internet, you are able to read this right now.
So how is technology transforming the world of business? Here are 5 most common ways the revolution is happening.
1. Everything Goes Mobile
Everything has gone mobile right now. Last year in November, according to research by StatCounter, more users access the web through mobile devices like tablets and smartphones than from their desktops and notebooks. This staggering statistic shows that businesses can be well managed through mobile in the years to come.
In fact, there are many things you can do today from your mobile devices without using a computer anymore. You can manage almost everything through mobile, such as your sales, Google ranking, customer relations, shipping, data processing, etc. with a hit of a button.
2. Better Customer Targeting
With the ease of accessing information and flow of data, it is easier and faster to understand the customers you are looking for. Analytics services allow you to identify better quality prospects. And when you understand your potential clients better, you can gear your business to target them at a better conversion.
For example, Facebook advertising allows business owners to segment their prospects according to their demographics like their age and location. Not only that, Facebook also allows advertisers to target prospects through their own interest based algorithm, which is a very powerful way to identify targeted clients.
3. The World Without Border
Again, with the accessibility of the internet, anyone can do business anywhere in the world. The founder of Alibaba, Jack Ma, once said that he was happy because he has helped thousands of business owners across the world, not just China. People in China are able to sell to people in Canada and the Canadians are able to do business with people in France.
It is truly a borderless world. And thanks to the speed of internet connection as well, business transactions can take place at a faster rate. Plus, if you are doing business on the internet, it gives you the possibility to expand your business internationally. You are not restricted to only local business.
4. Technology Creates More Time
Decades ago, if you want to send someone money, you have to go the bank. Today, you can do it with just a few clicks through internet banking. Businesses evolve with technology too. Mastercard is developing the facial recognition technology so that you pay with your face in the future.
Businesses will change and improve their services at a faster and more reliable stage. The e-commerce giant, Amazon has been testing the shipping of products by using a drone. Not only that, they are innovating their business to ship items to customers even before they purchase. You read that right.
The advancement of technology shows no sign of slowing, business will change with the technology wave. Learn to understand how technology can be applied to your business and grow together with it.