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Friday, February 3, 2023

How do you find the right technology for breakthrough growth?

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It is estimated that the average enterprise-level organization uses more than 75 technical tools, average. It’s clear that organizations see the potential this can have for their growth – even if they get a little overzealous about adopting it.

If you’re still unsure about how current options could impact your business for the better, understanding some of their key use cases can help you spot their potential.

Increase productivity

One of the most obvious ways companies use technology to drive growth is through automation. These tools take over both the mundane and essential tasks that don’t require as much attention or insight from your team. They give employees more time to focus on higher-level activities, while also reducing the risk of human error that can occur when performing a low-level repeatable task.

For example, research shows that using marketing automation tools can: increase sales productivity by 14.5 percent while simultaneously reducing overhead by 12.2 percent. Marketing this software helps increase leads by enabling marketing professionals to better recognize qualified leads and help them improve the nurturing process.

Automation can help with other tasks that are not so directly customer-oriented. From processing invoices or time off requests to synchronizing schedules for setting up meetings, it can perform numerous “behind the scenes” tasks that streamline your work and increase productivity.

“[This leads to] not just removing employees from the equation, as has been erroneously suggested in the past, but helping employees by leaving the ‘nasty’ aspects of their work to technology so they can focus on more important tasks.” writesDarryl Seland, front Quality magazine. “It’s a far cry from the idea of ​​pushing a button and letting the machines do all the work, although advances in technology can make it seem that way.”

Related: Using automation (and avoiding the pitfalls) as an londonbusinessblog.com

Improve customer service

Positive brand interactions can make all the difference in building lasting loyalty. Research from Microsoft indicates that: 69 percent of consumers believe that customer service is key to securing their brand loyalty.

As a blog post from Envision Consulting continues explains“It is becoming more and more common for companies to have online chat features on their websites, allowing potential customers to speak directly to a representative. The interactive nature of online chat can help customers get their questions or concerns resolved much faster.”

The right technology can also lead to more personalized experiences that make consumers more likely to buy. Tracking user interactions on your website can help you understand purchases a customer is considering. This can then be used for email or social media campaigns that target a user’s interests and behavior more directly.

Better data means better decision making

Without solid information to support your decision-making, you could be taking your business down the wrong path.

Again, technology can drive growth, this time by helping leaders make data-driven decisions. Not only do technical resources help collect and aggregate data, but many tools also provide analytical insights based on this information to help you make decisions.

Notably, a PwC survey of more than 1,000 senior executives found that organizations that are “highly data-driven” three times as likely to experience major improvements in their decision-making processes compared to their less data-driven peers. Qualitative research can help you become more proactive in making the necessary changes and feel more confident that you are doing the right thing.

Technical tools that collect and analyze data can also help break the information silos that often exist in larger enterprises. This gives your entire team a more complete picture, while also enabling stronger collaboration across departments. When everyone has access to information that can help them do their jobs better, you ultimately become more productive and deliver better customer experiences.

Related: Good decision making requires good data

Now is the time

A recent survey of 2,000 US adults through Propel Software found that inconsistent product information was the top deal-breaker for consumers to “break up” with a brand they use.

There’s no denying that the right combination of tools can significantly streamline your operations. Even activities that don’t seem to directly contribute to your bottom line can drive growth by helping you become more productive and better able to meet the needs of your customers.

By evaluating your needs and the options available to you, you can find tools that will help you take your business to the next level — and achieve the massive growth you hoped to achieve.

Related: Why a Community-First Approach to Web3 Marketing Works Best

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