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We live in a world where various unprecedented technologies have marked their presence in the almost every nook and corner. Be it the 3D printing techniques in education, virtual reality in healthcare or machine learning in automobile sector, technologies are driving the efficacy of every kind of business.
Here are 5 technologies every small business idea needs to expand their business in this technology-driven market space.
Customer Relationship Management (CRM) system
Customer Relationship Management (CRM), as the name suggests, is an approach to managing company’s interaction with customers and potential customers.
CRM system uses data analysis of customers’ history with a vision to increase business and to gain maximum customer retention. This can be done through email marketing, phone calls, and social media engagements.
According to recent studies, CRM applications have increased:
- Sales by up to 37%
- Sales productivity by up to 44%
- Forecast accuracy by 48%
Data Security
Data security refers to the protection of digital data from unauthorized authorities who can breach the data. It includes data encryption, tokenization, and hardware security module, key management and other technologies to protect data across applications, transactions, storage and big data platforms.
The electric systems used by businesses operate sensitive and confidential data. Data security systems handle all these data with the best possible ways. Data security is crucial regardless of business type.
Mobile Applications
In today’s technologically advanced scenario, everything is now available in your palm through smart mobiles. Launching the mobile applications can be rewarding.
Studies reveal that 49% of businesses are using or planning to use mobile applications for their business. This way, more and more customers can engage with your company and the customer base gets strengthen. This leads to gain more traction.
Cloud Computing
Cloud computing enables organizations to focus on their core businesses instead of expenditure on computer infrastructure and maintenance
According to recent study, 59% of the small businesses have acknowledged the utility of cloud computing networks as beneficial for their business. If the data filling systems are running out of space, then cloud can help in managing the crisis.
Chatbots
A chatbot is artificial intelligence software that can stimulate a conversation with user or customer in natural language through applications, websites, telephone, messaging and mobile applications.
It is considered to be one of the most advanced form of conversation-based technologies that supports the interpersonal communication between the users and the company. This way, a chatbot enhances the customer retention, hence raising the sales drastically.
As these technologies can be used regardless of the type of business, they have all the potential to bring drastic changes in the business, hence leading to the expansion of business.
