Staying up to date with the latest tech can help your organization stay one step ahead

Over the last two decades, technology has completely changed the way we live. From the rise of the internet to our reliance on smartphones, it’s now pretty much impossible to get by without using tech in some form. This is also true when it comes to running a business.

The business world of 2019 is a very different place to what it was 20 years ago, which means that the way businesses are run must change too. Here are the five biggest ways technology has revolutionised the world of business.

 

Tracking marketing ROI

The age of the internet has provided brands with an impressive array of new marketing tools, helping them to not only generate but also effectively measure return on investment (ROI).

Contemporary features such as click rates and phone call tracking can make marketing efforts more tailored and more effective, revealing which specific marketing activities have seen the most success when it comes to leading to sales enquiries.

 

A mobile consumer experience

Of course the internet is important for any business today, but more specifically, it’s the mobile internet that companies need to manage closely in 2019. Consumers rely heavily on their smartphones nowadays whenever they search for any kind of product or service, so a strong mobile web presence is key. All the necessary data and services your business offers must be optimised for mobile — including opening hours, contact details, and the ability to make purchases online via a smartphone. If these kinds of features aren’t in place, you may find that your customers are starting to look elsewhere.

 

Remote working

As time goes by, the traditional workplace is becoming optional rather than compulsory. The rise of mobile devices and widespread internet access, as well as cloud platforms like Google Drive, means that employees aren’t often required to make the physical trip to the office every day.

A smartphone makes communicating quick and easy no matter where you are, meaning more and more often employees are getting used to remote working.

This is good news for business owners. Office space costs money, and being able to widen your search for employees without taking geographical location into account will give you a richer pool of applicants. It can also help you cut down the environmental impact of your business by reducing energy bills and travelling.

 

Real-time inventories

If your business relies on storage and warehousing, tracking your inventory accurately can be a challenge. However, the rise of the Internet of Things (IoT) makes tracking easier, connecting multiple products and devices to a single network which allows you to manage your inventory in real time.

 

Big data

Data plays a massive role in the business world of today, with consumer data more readily available than ever before. This helps businesses know how exactly their customers are using (and reacting to) their online services.

When this data is analysed closely, it can help businesses make effective changes to suit their consumers, potentially boosting revenue, increasing sales and providing a better experience overall.

With the implementation of GDPR guidelines in 2018, businesses must be careful to abide by government rules when accessing consumer data. But as long as you stick the necessary guidelines, you can use information on your audience’s habits to give them a more streamlined and rewarding experience with your business.

 

Need help getting your business off the ground? TEDCO Business Support are here to get you on the road to success. Get in touch today by calling 0191 516 61 02 or by emailing us at hello@tedco.org.

What we offer

TEDCO offers one-on-one support provided by a dedicated team of business advisors and a range of pre start seminars available to clients who are taking the first steps into self-employment. This could be looking at an initial idea and developing it further, looking at how to start a business plan, business competitors, business marketing.

Are you eligible?

If you are looking to start and grow a business we’d love to hear from you. Our friendly team of experienced Business Advisors are on hand to take your call to discuss the support available.

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