Whether you’re a proprietor of a traditional brick-and-mortar business or you conduct transactions online, using the latest technology to grow your business is a smart, lucrative investment. There are fast ways out there to improve dealings like staying on top of accurate customer data management. There are also strategic, long-term tech-strategies available to help your business consistently build sales and identify new opportunities that coincide with proven success.
Driving Small Business Success
Creating a seamless shopping experience for consumers is the life-blood of the small business. Customers must be able to quickly find what they’re shopping for in-stock, be attractively offered complementing goods or services, and then be able to pay at the point of sale swiftly. Technology allows a business to send a follow-up. A thank you message inviting the shopper back not only establishes a relationship, but it also creates a great impression.
Point of Sale
Long-gone are the days of cash transactions for the most part. While POS technology can be a little pricey, having it installed with an operation demonstration will offer businesses the ability to accept chip-secure credit cards, run more than one pay station at a time, and provide printed customer receipts. Modern-day point of sale systems also offer features that can help with your accounting, time tracking, inventory, and more.
Passive Income Stream
Dabbling in the latest technology while deciding what will work for your business can also take the form of passive income. Passive income is simply cash coming in on a regular basis from minimal effort. Some examples are crowdsourcing, investing dividends and P2P, peer-to-peer lending. This money is “growth” money and can be put towards new technology to help grow your business.
Statistically, smartphone users store anywhere from 60 to 90 apps on their device. People use applications for everything from staying on a budget to impulse shopping at their favorite stores. Businesses including eBay and Target allow shoppers to store gift cards, credit cards, track purchases, and create product wish-lists for future purchases all in one secure attractive little square at their fingertips. App technology is ever-improving, and certainly excellent technology for creating customer loyalty and return buyers.
One of the best uses for new technology is being able to collaborate with those at the same level of success. With a competitive, global platform, advertising has taken a curveball to traditional marketing efforts. It’s almost required these days, and certainly, an efficient way to run a business, by reaching out to content creators, graphic design professionals and product or service “influencers” who successfully push brands to grow profits. It seems that great networking will always be a way to grow a business, and technology now offers a better way to do so.
Money, Money, Money
Doesn’t it all come down to money? Technology allows greater profits to be recognized. Applying science to everyday operations enables us to think outside the box and to take advantage of the many capabilities around us. Capitalizing on virtual experiences and understanding how to manage the vast amount of useful data equates to dollars.
A business must strive to capture every sale. It is the difference between profit and abandoned merchandise. Using the latest technology in your business will increase productivity, encourage collaboration, apply customer feedback via surveys, and finally reduce the cost of collecting on customer payments.