Technology is changing the way businesses communicate today. With this in mind here are some of the interesting changes that are occurring. For about a century after the Industrial Revolution, the business world barely changed at all. However, this probably won’t ever happen again with the way technology is developing, mutating, and adapting so quickly today. As an entrepreneur, you can’t help but be swept up in this tidal wave of progress that’s rapidly changing every aspect of how businesses operate today.
What Business was Like 5 Years Ago
While you may not think we’ve advanced much if you look back just 5 years you’ll see we really have. Some of the changes we’ve undergone include:
- Social media has struggled up until now when it’s finally become integrated with consumerism
- Mobile phones were only used by the public for “casual” purposes whereas now they’re used for business, work, and commerce
- Cloud-based solutions are more available now for small and medium-sized businesses
- Apps were only used for gaming but now they can help you manage every aspect of your business including making visual calls
How Technology has Changed Business as we Know it Today
Technology is one thing that truly changes the way we know business today. App Data Room suggests we stand up and pay attention. As such, they mention that these changes include:
- Mobile solutions have caused Google to revamp its algorithms giving priority to those websites that make seamless mobile web browsing easier.
- Cloud computing lets businesses of all sizes move some of their operations to third-party servers online.
- As more data is flowing around today, it’s easier to know for certain what your clients are looking for. This allows you to segment your prospects into really small groups so you can target them specifically and make more money from them.
- With technology, it’s now easier than ever before to stay in contact with your customers.
- We’re now living in a “buyer’s market” where it’s easy and affordable to get the hardware and software we need to exploit barriers that stood in our way in the past.
- Millenials are now the chief driving force behind business – and everything else in the world. This is because they represent over half of the American workforce. Since they outnumber the Baby Boomers, are more willing to spend money, were raised on digital technology, and require instant gratification they’ll be the ones who are responsible for forcing business to become more tech-savvy.
- Today you can’t operate your business in a vacuum. Social media has brought the world together. Geography, finances, and social status are now a thing of the past. This is why you can no longer slip by with “okay” customer service, products, or services without incurring a rant on social media or a bad review. Once you earn this type of reputation it’s hard to lose it.
There is one downside to all of this though: With the rise of technology comes decreased downtime. People no longer have time to recuperate. Even the coveted American tradition of taking a yearly vacation has now become a thing of the past. Today we always have access to our email and text messaging. We can also easily do our work on a laptop or tablet regardless of where we’re at. So, even when you have good intention and want to try to get away from everything for a while, more than likely you’ll eventually succumb to the temptation of “checking in” on your work – at least once, but then it’ll all be over.
How the Internet has Changed in Such a Short Time
It really hasn’t taken very long for the internet to drastically change the way we’re doing business today. In fact, it (along with email and cellphones) now tops the way in we now communicate today instead of using the telephone and telegraph. These are growing in social acceptance, becoming embraced by everyone everywhere now. According to Chron Small Business, it’s important to note how each of these things really has changed the way we now do business. Some examples of this include:
- Email messages are replacing handwritten correspondence with customers and staff. This is because it’s easy to send an email message and quickly get a response whereas handwritten correspondence requires a longer turnaround time. Of course, you’ll also save money on the cost of postage especially since it’s easy to get a free email account from Google today.
- Social media sites like Facebook let you communicate with friends, family, colleagues, and complete strangers online. You can share information and photos with them, regardless of where they’re located. This offers you the opportunity to enhance your online presence, so you can increase your revenue.
- Online chat lets people talk to people throughout the world in real-time without using the phone. This is a great way to share information about your products or services, including your phone number or email. It’s also a great opportunity to directly answer your customers’ questions about your business by installing an online chat feature on your website.
- Blogging has grown in popularity over the years. Now businesses are using it for promotional purposes, providing instructional information, and almost everything in between.
- Video conferencing offers you a way to use the internet to place calls where you can see the other person while talking. This will save your business a lot of money since these real-time conversations can happen without ever leaving your office.
- Cellphones’ popularity has increased in recent years because its portability let you stay connected wherever you go. You can do this through calling, texting, or emailing. Using social media and placing video calls are also great options for remaining in contact via your cell phone while on the go.
Regardless of your personal opinion you can’t ignore technology’s rapid advance or expect it to slow down anytime soon. Owners of small businesses need to adapt, or they’ll find themselves being left behind while others keep up and reap the rewards. This isn’t a matter of restarting your business. You simply need to understand how technology affects your business and how to apply advancements to your advantage.