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It is estimated that an average enterprise-level organization uses more than 75 technology tools on average. Clearly, organizations recognize the potential this can have for their growth – even if they’re getting a little too enthusiastic to embrace it.
If you’re still not sure how today’s options can best impact your business, understanding some of their key use cases can help you discover their potential.
One of the ways businesses use technology to fuel growth is through automation. These tools handle universal and important tasks that don’t require much thought or understanding from your team. They give employees more time to focus on high-level activities, while at the same time reducing the risk of human error that can slip into repeatable low-level work.
For example, research shows that using marketing automation tools can increase sales productivity by 14.5 percent, while reducing profit margins by 12.2 percent. Marketing this software helps marketers increase leads by helping them better identify qualified leads and improve the nurturing process.
Automation can help with other tasks that aren’t directly customer-facing. From processing invoices or taking time off requests, to scheduling meetings to syncing, it can take care of countless “behind the scenes” tasks that streamline your work and speed up productivity.
“[This leads to] As has been wrongly stated in the past, it is not just about decommissioning workers, it is about enabling aid workers to bypass the ‘boring’ aspects of their work for technology to help them focus on more important tasks. Daryl Seland wrote for A quality magazine. “While the advancement in technology may seem like it, it is far from pressing a button and letting the machines do all the work.
Related: How to use automation (and avoid the pitfalls) as an entrepreneur
Improve customer service
Positive brand interactions can make all the difference in building lasting loyalty. According to a Microsoft survey, 69 percent of consumers feel that customer service is important to their brand loyalty.
A blog post from Envision Consulting further explains: “It is becoming common for businesses to have an online chat function on their website, which allows potential customers to speak directly with a representative. The interactive nature of online chat can help customers find their customers. Questions or concerns are quickly resolved.”
The right technology can also lead to more personalized experiences that make consumers more likely to buy in the first place. Tracking user interactions on your website can provide insights into the purchases a customer is considering. This is for email or social media campaigns that target user interests and behavior more directly.
Better information means better decision making.
Without the right data to support your decision-making, you could be taking your company down a completely wrong path.
Still, technology can drive growth — this time, by helping leaders make data-driven decisions. Technology resources are not only used to collect and synthesize data, but many tools provide analytical insights based on this data to guide decision making.
Specifically, a PwC survey of more than 1,000 senior executives found that “highly data-driven” organizations are three times more likely to achieve major improvements in their decision-making processes than their less data-driven peers. Qualitative research can help you be more proactive in making the necessary changes and more confident that you are taking the right steps.
Technology tools that collect and analyze data can help break down the information silos that often arise in large enterprises. This gives your team a more complete view, and allows for stronger collaboration across departments. When everyone has access to information that helps them do their jobs better, you’ll ultimately be more productive and deliver better customer experiences.
Related: Making good decisions requires good information
The time is now
A recent poll of 2,000 American adults by Propel Software found that inconsistent product information is the number one deal breaker for consumers to “disengage” from a brand.
It cannot be denied that the right combination of tools can significantly improve your work. Even activities that don’t seem to contribute directly to your bottom line can fuel growth by helping you be more efficient and better able to meet your customers’ needs.
By assessing your needs and available options, you can find the tools to take your business to the next level – and the big growth you’ve been looking to achieve.
Related: Why a Community-First Approach to Web3 Marketing Works Best