10 Ways Information Technology is Changing the World of Business
New York – In the late twentieth century, there was a popular saying among many business owners and professionals that went, “It’s not what you know, but who you know.” This saying has never been more true since the advent of the Internet. Communications have become more essential in everyday business practices thanks to online networking. Many entrepreneurs, such as Ehsan Bayat of Afghan Wireless, continue to expand the possibility of communication networks even in the most remote areas. How can the development of information technology benefit the future world of business?
1. Sending Documents
In the past, it could take days to receive letters and/or business correspondences by mail. Many business owners even paid for next-day delivery of important documents. In today’s market, those documents can be sent via email almost instantaneously. Whether these forms are stored on a local server, in the Cloud, or on a smartphone, people can now share these documents in a much faster and affordable manner. According to many business owners, the days of spending $20 to $30 for next-day air are numbered.
2. Marketing Shifts
Many small businesses may not be able to afford televised advertisements. However, nearly one-third of these companies utilize paid online marketing. In many ways, online marketing can be more valuable to the small business than a perfect spot on primetime television. These advertising methods may also be far less expensive than many local real-life alternatives.
3. Social Media
One of the most profound changes in the digital world has been that of social media. Since 2005, more and more people have been flocking to sites like Facebook and Twitter in order to stay connected with friends and family. Many business owners have seen the potential for engaging their audience and developed strategies for social marketing practices. Since approximately 10% of all online sales originate from these websites, the potential for income is extraordinary.
4. Expanding Target Consumers
The Internet gives business owners the opportunity to greatly increase their target audience without an excessively high marketing campaign. Companies in the smallest of towns may still access millions of people through online channels. This can include people living in nearby cities to those on the other side of the globe. It all centers around what kind of business you operate and how you can engage those consumers.
5. Mobile Marketing Improvements
Online interactions are not the only things that have been affected by changes in information technology. The devices themselves offer potential to engage consumers as well. Many companies have invested heavily into mobile marketing platforms, with the majority of owners stating they will spend more in this area next year. This demonstrates how influential mobile devices have become for communication and enhancing sales.
6. Productivity Enhancements
Many people have experienced the efficiency of online business practices. As such, developers are continuing to create the perfect Internet-based platform for various organizations. Nearly every aspect of almost any business can be controlled through the Cloud. The Cloud and other enhancements like it increases productivity, as employees and other workers can work from virtually anywhere. Online tools and applications play a significant role for online freelance professionals or employees who work from home.
7. Professional Social Networking
Prior to the development of the Internet, creating a professional network required a great deal of legwork and phone calls. Today, people can meet and interact on sites such as LinkedIn. Professional Social Networking has incredible potential for creating a vast professional network, allowing people from around the world to intermingle without the need to travel.
8. Greater Levels of Opportunity
Business owners used to spend days searching for distributors and suppliers. Thanks to the Internet, these people can now spend an hour or two on sites like Google to find the products they’re looking for. This has the potential to greatly increase product availability, as well as reduce overall operational costs of a brick-and-mortar store. Organizations no longer have to settle for what’s available locally, since many suppliers can now ship across seas.
9. Increasing Revenues
Many businesses offer online customers products through eCommerce sites while selling goods locally at the same time. In some cases, simple advertisements on company blogs have the potential to produce a steady revenue stream. Businesses small and large no longer have to rely on walk-in customers thanks to online methods. It’s like having a second store without the overhead costs.
10. Disaster Recovery
History has demonstrated that disasters can come in any form. Many companies have been affected by storms, earthquakes, and man-made catastrophes. Information technology gives users the ability to recover from such disasters very quickly. In fact, it’s even possible for a company that had its physical store completely destroyed to continue functioning from someone’s garage. All that’s needed to do business is an Internet connection.
Information technology is more than just the desktop computer system in your home or the smartphone that resides in your pocket. It’s an industry that encompasses virtually all digital modes of communication. Using services that are available today may greatly improve your business practices tomorrow. Keep your fingers on the pulse of technology and take advantage of the tools that work for your organization.
Edited by Michael Joseph
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