The basics of business fundamentally stay the same, however it’s how you communicate, manage and your decisions that changes over time.
With modern enhancements to technology you can stay one step ahead of your competitors with better decision-making, easier customer management and a faster sales process. Below are three key growth areas that you should consider.
The Cloud
With Internet connections now faster than Speedy Gonzalez and everything seemingly being able to connect to the web (I’ve even seen a fridge with an Internet connection) the Cloud is fast becoming a key business consideration.
With rapid deployment, lower costs and no IT skills needed, it’s no wonder the Cloud is growing by 37% year on year.
The Cloud offers a real alternative to your traditional in-house IT solution whether it be email, data storage, SaaS (software-as-a-service), IaaS (infrastructure-as-a-service), backup etc etc, you’ll find a service suitable for your business model.
Big Data
If you haven’t heard it yet you soon will as it ‘s the new buzzword on the ‘street’. In non-techy, human language Big Data means the growth and availability of huge quantities of information that traditional methods just cannot analyze. About 90 percent of all data generated is unstructured, in other words it doesn’t fit into an existing database. With data this vast you can make very good business decisions if analyzed correctly and put into a simpler format.
The Cloud offers many opportunities to mine structured and unstructured data without having to raid your piggybank. If you don’t think it’s worth exploring then look at Amazon. They were one of the first companies to adopt business intelligence to analyze their customer’s buying behavior through Big Data. They did alright I suppose!
Mobility
This is an obvious option, not only is mobile technology increasing efficiency and shortening sales cycles for many businesses, it has also offered sales teams the ease and flexibility to communicate better and more compelling messages to further engage customers.
Customer expectations are higher today than they have ever been before. They know there is choice. If you don’t deliver, you will lose your customer. This is where faster communication and more availability plays a critical role. Smartphones now have access to business critical data, tablets are outselling PC’s by 27%, BYOD is becoming the norm and with the introduction of faster mobile networks, mobility is no longer a platform but an important cog in your business strategy machine.
Bringing it all together: Cloudatbility
Ok you got me, I made up the word cloudatbility but utilizing all three together can compliment each other and give you tools to not only sell more but to make better business decisions.
Imagine you’re just about to go to your next customer appointment, so you pull out your smartphone and access your company data through an app or website. You know who you’re meeting with and your BI system instantly tells you what the customer has bought this year compared to last year. Then you can see any orders that have been placed but not yet delivered.
You can then do a quick online search to understand their feelings towards your company from their social media interactions, whether they’re positive or negative, and know how to approach the meeting. You may also be able to find any problems they have with other suppliers.
After this you can get all your previous meeting notes from your CRM system and understand if they have spoken to anyone else from your company since your last meeting and what they were talking about. If you have any notes that need updating you can do it there and then to save another trip back to the office. I could go on but I think you get the idea. In short, you get a full picture of your customer whilst enjoying a drink at your favorite coffee shop!
Many organizations are still slow to fully realize the benefits of these three elements and the importance they have on modern business. If you haven’t yet ventured into this brave new world you should at least explore one option and monitor the influence it has on your business.
Need help understanding the Cloud or Big Data? Give us a call and we’ll be happy to help.
