Before the Industrial Revolution, the business world stayed too much at the same spot but today, we can boldly say that is never going to happen again. Technology is now advancing and developing at such an exponential rate that whether we like it or not, we can’t just help but be swept away in the wave of progress.
You might not think we have come that far, but if you can take a moment to look back in time past, you will definitely be shocked at what amazing development has happened over the years.
Technology has literally caused a measurable change to the way marketplace now works, and this kind of fast change is what we have never experienced before in history. Below, courtesy of Exapro, are some ways technology has fundamentally changed marketplace today – obviously, for the better.
Mobility is now the order of the day. Every aspect of your business can now be handled from any locations if you have the right software on your device or tablet. Everything from sales enablement, customer relation, content creation, and many more can now be handled seamlessly – thanks to technology. But mobile is not just for business owners but also for the customers alike with the rise of the Millennial generation (the Generation Y), more people are now using mobile devices to sell, buy, shop, share their retail experience, and find local businesses. This new paradigm has literarily changed the story marketing.
Gone are the days when have to lose their data because of storage inefficiencies. Now, cloud computing is now available for both large and small businesses to use third-party servers to store some of their operations, which can be easily accessed via internet connectivity. This does not only allow for a variety of data packages, it also allows rapid expansion and mobility with having to worry about downtime, permanent data loss or crashes. This is a technological development that has allowed small businesses to access resources that would have be impossible for them due to the cost implications.
Extreme Customer Segmentation
Due to the easy flow of more and more data today, more than ever before, it is now super easy to understand the customers you are looking for. You can simply segment your prospects into even more minute group with the help of the different analytics services available today. This allows business owners target specifically and, in effect, get more bang for their marketing buck. With just a simple Google account, you can even know where your visitors are coming from, the type of browser they are using, and how they managed to land on your website. It shows you what they do when they visit and how much time they spend on the site. All these perks of technology have rewritten the story of today’s marketplace, no doubt.
If you look around you, you will notice how much technology has simplified relationship and communication. Whether it is getting your employees or coworkers available at a moment via just text or video chat, or being able to blast targeted promotional emails to prospective customers at the point when they are ready to shop at nearby businesses, you will agree that the rise of mobile technology has worked seamlessly with communication software to create a hyper-real web of real-time information.
Now, no one operates a business as though it exists in a vacuum. The advent of social networking has somehow shrunk the world into a place where users can connect regardless of geographical barriers or financial and social backgrounds. Unlike what it used to be a few years ago, customers can now give feedback about bad services they received. Business has now moved to the era where customers only need to check the internet to get a better perspective of the reputation of the company they want to deal with. Internet doesn’t forget. And that is why many businesses today are doing everything they can to make sure they earn a good online reputation.
Technology is a Wave; You Can Either Get Swept Away or You Ride to Your Advantage
It doesn’t matter what your opinion is, the rapid advance of technology is not coming to an end anytime soon. Any business that plays with this fact may have itself to blame in the nearest future. You don’t have to rebuild your business from the ground up, you only need to understand how technology has impacted the marketplace and key into enjoying the benefits it offers.