Technology is good. It allows us to interact with customers from all around the world. It provided businesses a safe platform to market their goods and services. But by not maximizing the potentials of technology, it could be doing your business more harm than good. If you cannot use technology for the benefit of your customers while your competitors invest their capital into it, then your business will slowly fade into oblivion. A company that cannot adapt to how fast technology changes and works cannot survive in such a dog-eat-dog economy.
So yes, technology is a worthy investment. You can even take out a home equity loan to boost your business’ use of technology. The more you harness its power, the more likely you’ll provide the best customer experience, which is at the core of all revenue-driven business strategies. Provide the best customer experience, and watch your business grow like no other.
Use Technology to Better Understand Customers
Businesses have access to big data like never before. They can analyze this data and come up with solutions on how to boost brand awareness. It can also reduce bounce rates and improve conversion rates. Technology allows businesses to see the behavioral patterns of buyers on the internet. Artificial intelligence can gather and crunch data relating to customer reviews, surveys, and social media interactions.
Through this data, businesses can craft marketing strategies and customer-related policies that will drive consumers to their physical and online stores. That’s not to say this data wasn’t available. It is, but companies do not have the necessary skills and big-data crunchers to understand what exactly it means. But today, you only have to look at the analytics report, and you’ll get the full picture of what your customers want.
Utilizing Virtual Reality for Complete Immersion
Is there a better way of immersing customers into your business than using virtual reality? You can create VR booths in your store or office. Here, customers can experience what your products and services can do. If you’re running a travel agency, for example, the VR booth can let customers choose which country or island they want to “experience.” The program will then bring them a sensory experience like no other. It’s the easiest way to market a travel package to customers.
Not many businesses are using this unique technology. You can be one of the firsts in your industry. Take note that creating a virtual reality is expensive. You have to make sure the experience will work to your business’s advantage rather than against it.
Making Chatbots the New Norm
What’s the most annoying thing for customers besides a lagging website? It’s the failure of a business to respond to queries immediately. Those days are long gone now. Facebook Messenger uses chatbots mostly, but you can install it on your websites. These bots can answer frequently asked questions about your brand. They can schedule appointments, connect you with an actual customer representative, process returns and exchanges, and transact purchases.
Because of this technology, brands can reduce operational expenses. They no longer have to hire several people to manage their customers. The bots can do that. Only if there are particularly problematic issues will the bot try to connect the customers to an actual representative of the store.
Why does this matter? There’s nothing more that customers hate more than not receiving the right level of attention from a merchant. Bots can answer queries in seconds. This is precisely what every business needs.
Connecting Through the Internet of Things (IoT)
Systems, programs, and devices are all connected to the internet of things. Your Apple Watch can send information about your fitness journey to your Facebook account. This is an excellent way of marketing both the app and the product. Cars can purchase items and services on behalf of their owners. Brands can use this technology to promote direct ties between real-world activities and digital communication.
When you bring your car to the mechanic, your vehicle can send information about the mechanical problems to a device. This makes it easier for car mechanics and engineers to diagnose the car’s issues. The internet of things is a diagnostic tool, a customer representative, and a digital assistant all at once.
Technology gave businesses great power to enhance operations and reduce costs. But if there is one aspect that technology can make a huge difference in a business, it’s the way it enhances customer experience. It seems that the more you make use of technology, the happier your customers are.