Using Technology to Drive Startup Growth – What You Need to Know
Every startup places emphasis on growth and therefore most startup owners employ a variety of strategies to ensure they hit predetermined growth thresholds within their target period.
The rapid strides being recorded in the business technology world means that as startup owner, there are lots of new and effective solutions that can help you hit your growth targets. Some of the resources available today were not accessible to smaller businesses before the technological advancements of the last few decades.
With new technology comes innovation and these innovations are often what helps business to quickly stand out from amongst the competition. The onus lies on you however to fashion strategies targeted at optimizing the use of these technologies and ensure increased business efficiency.
Here are the different ways you can utilize the boon of technology to your business’s advantage.
Embracing the power of cloud based solutions
Cloud based businesses operate a global network of online servers which allow their users to carry out designated tasks remotely from any part of the globe over the web. Cloud technology has quickly permeated various spheres of life. The primary draw of cloud technology is the ability to manage your business operations from just about anywhere and on any device and at any time.
“The benefits of cloud technology hinges heavily on increased collaborations, reduced expenditure, increased productivity and improved data security” says the experts at Everycloudtech. “When you embrace the right cloud based solutions for your startup, you can sharply increase your brand’s competitiveness”.
As more businesses are migrating to the cloud, cloud technology providers are evolving to accommodate their various needs. Therefore, regardless of what your needs are, you are sure to find te right cloud based solution for your specific business.
Embrace the power of social media
Currently, there are over 2.3 billon social media users and the number is expected to grow by another 200-300 million over the next couple of years. What does this say? Your startup cannot afford to overlook the amount of traffic on offer as you try to attract customers.
The first step to tapping into this pool is to develop a solid social media strategy for your business. When you have the right social media presence, you can proceed to using these platforms for your marketing needs. Social media gives you a platform to accomplish the following:
Gather user feedback
Offer instant product purchase options
Keeping your customers engaged (with quizzes, contests, etc.)
Build relationships with top industry influences
Provide targeted offers and deals to your consumers based on their online behavior
Generally promote your goods and services
To fully reap the rewards of your social media efforts however, you need to ensure a seamless transition between your social media pages and your website. Non mobile-friendly websites and poorly optimised landing pages for instance will scupper any efforts made to bring in customers through your social media campaigns.
Deploy technologies to encourage leg traffic
There are several examples of technologies that can lure your target audience to your store front but one of the most effective options is the use of WiFi.
Most people want to stay connected everywhere they go and so offering free WiFi to your target audience is a good way to bring them in. When used properly, this could prove to be a very effective marketing tool.
Apart from bringing traffic to your business, new technologies allow you to gather data on your customers’ online behavior which could help you fine tune your marketing strategies. What products are they looking for online? What social media platform do they spend the most time on? These are some of the questions you could answer with the data gathered.
Increased client satisfaction could mean further customer acquisition prospects for your business and, consequently, increased profits.
Keeping track of achievements and progress
Technology has made it easier than ever to monitor growth and productivity for any business. There is a wide variety of business productivity software that is available in the market which can track progress on a stage by stage basis. With such tools, you can improve performance by seeing what works and what doesn’t work and effect the required changes for better results. You can equally monitor real time business performance as there are also tools available to look at these metrics.
Technology for small businesses and startups has improved. You need to ensure you are aware of the latest technologies that could be of benefit to your business whilst investing in the right implementation techniques that will ensure optimum benefits.