Our world has changed a great deal in past decade or so. If the 19th century was marked by the onset of the Industrial Revolution, then the 21st will be known for its technological advancement.There’s no telling what stage we’re going through but just as with any other form of revolution, this one has changed how we go about doing our everyday chores.
It is perhaps the business world that’s been hit the hardest and where technology’s implications are acutely felt. Soon after its advent, it became clear that this wasn’t a fleeting phenomenon. The technology was here to stay.
Entities that were rigid and had reservations about adapting to the prevailing scenarios have almost been wiped out. Let’s have a closer look at how life in the business world has been impacted by the advance in technology.
Mobility — Hard To Escape The Prying Eyes
The emergence of mobile technology has shaken up more than a few things. Your business website, mobile app or whatever other means you have to suck customers in, come under the ‘surveillance radar’.
Google algorithms take particular note of how smooth and seamless a mobile experience a website offers. Mobile-friendliness has become a near necessity now. As for the handling of business operations, mobility has made that task incredibly simple as well. No matter where you are, you can keep track of all things, create a do to list, assign tasks and get things done on the go.
Then there’s the craze for mobile apps among the millennials. This group likes to write down all their experiences on the internet. So be it visit the local coffee shop, a purchase online, or using a particular service, they say it out loud on the Social Media. Fancy devices and cool apps make that task so much easier.
All this puts biz in a precarious situation, where they can have ‘no margin for error’. If anything is picked up by the even one customer, it doesn’t take long before the whole internet community knows about it.
Zeroing In On Customers
With the wealth of data now available, biz can look to understand their customers at a much closer level. Not long ago, it was tough enough to reach the people who’d be interested in your services. In modern-times not only do you know who your target audience would be, but you get to understand their habits i.e. their mode of shopping and their overall mentality as a buyer.
That puts biz in the driver’s seat. Their whole marketing campaigns could be molded in such a way as to suit the needs of the TA. Even though customer-identification seems like an immensely helpful solution, the acquisition among certain age-groups is quite challenging. More on this in the next point.
Customer Acquisition Gets Tougher
The modern generation is tech-savvy. They know all about the clever tricks biz-world employs to get their attention. The millennials are often said to be an ‘inexplicable lot’. Their needs keep changing and they’re always desiring near-perfect solutions.
Millennials have found to be the sticklers of quality, that means if they have to spend a few extra dollars to own a certain high-quality product, they go for it.Biz has come to realize that the old games of appeasing the customers with attractive offers etc aren’t nearly enough to establish their footprint in the market. As the romance of millennials with technology keeps getting intense, the challenge of customer-acquisition will continue to get tougher.
No One Is Remote Anymore
Strong communication has always been considered a pivotal aspect of any sphere of activity. Biz, no less than anyone, need to be on top of their game when it comes to the smooth flow of communication both within the organization and outside.
Thanks to mobile technology, that job has been made a great deal easier. Be it video-conferencing across borders or sending out promotional messages to users who happen to pass by your Storefronts, all this can be monitored and automated with a bunch of software.Such a feeling of always being in control is something that would make veteran business owners envious of the modern generation.
Big Players, Small Players… All On The Same Field
Cloud computing has made the job of data storage so much easier. Apart from being highly affordable, it’s the convenience of access to data whether being stationary or mobile that really adds to its reputation. Not long ago, a number of benefits arising out of cloud computing could only be enjoyed by really affluent corporations.
But, that has completely changed. A wide variety of plans exists for all types of business requirements. Similar technological advances mean soon there’ll be few privileges held by large-sized biz that SMEs will be able to complain about. Technology has been like a giant wave. Those standing against it have been wiped out or will be wiped out, whereas those going with the flow have learned to stay buoyant and are prospering.
Although, the imposition of technology is something that irks the senior generation, there is quite a few measure taken to tend to their needs and get them on board.
The great thing about technology is that it adds to the convenience and makes life easier. It always gives something to look forward to and every advance is an improvement on the previous attempt.Technology has continued to amaze us in so many ways and just when you think you’ve seen the last of it, on it comes with another wave to take your breath away!