Technology is changing the way businesses communicate today; keeping this in mind, here are some exciting changes that are occurring. For about a century after the Industrial Revolution, the business world barely changed; however, this probably won’t ever happen again with the way technology is developing, mutating, and adapting so quickly today. As an entrepreneur, you cannot help but be swept up in this tidal wave of progress that’s rapidly changing every aspect of how businesses operate today.
What Business was Like 5 Years Ago
While many may think business has not advanced much in the last few years, you will see we really have if you look back just 5 years. Some of the changes we’ve undergone include:
- Social media has wriggled up until now when it’s finally become integrated with consumerism.
- The public only used mobile phones for “casual” tenacities, whereas now they’re used for work, business and commerce.
- Cloud-based solutions are more accessible now for small and medium-sized businesses.
- Apps were only used for gaming, but now they can help businesses manage every aspect, including making visual calls.
How Technology has Changed Business as we know it today
Technology is one thing that truly alternates the way we know business today. App Data Room recommends we stand up and pay attention. As such, they mention that these changes include:
- Mobile solutions have caused Google to restore its algorithms giving importance to those websites that make seamless mobile web browsing easier.
- Cloud computing lets businesses of all sizes transfer some of their operations to third-party servers online.
- As more data is flowing around today, it’s easier to know what the clients are considering. This allows businesses to segment their prospects into very small groups to target them individually and make more money from them.
- With technology, it’s now simpler than ever before to stay in contact with your customers.
- We’re now living in a “buyer’s market” where it’s easy and affordable to get the hardware and software we need to feat barriers that stood in the businesses’ way in the past.
- Millennials are now the main driving force behind business – and everything else in the world. The reason is that they represent over half of the American workforce. Since they outnumber the Baby Boomers, they are more willing to spend money, were raised in the digital era of technology, and require instant gratification; they’ll be the ones who are responsible for forcing businesses to become more tech-savvy and grow.
- Today you can’t operate your business in a vacuum as social media has brought the world together. Geography, finances, and social status are now a thing of the past. Thus, businesses can no longer slip by with satisfactory customer service, products, or services without incurring an outburst on social media or a bad review. Once you earn this type of reputation, it’s hard to lose it.
There is one downside to all of this, though, with the rise of technology comes decreased downtime. People no longer have time to recuperate. Even the coveted tradition of taking a yearly vacation has now become a thing of the past. Today we always have access to our email and text messaging; we can easily do our work on a laptop or tablet regardless of where we are.
Even when the businesses have good intentions and want to try to get away from everything for a while, they’ll eventually yield to the enticement of “checking in” on their work – at least once, but then it’ll all be over.
How the Internet has changed in Such a Short Time
It hasn’t taken very long for the internet to drastically change the way companies doing business today. These are growing in social acceptance, becoming embraced by everyone everywhere now. According to a study, it’s important to note how each of these things has changed the way we currently do business. Some examples of this include:
- Email messages are replacing handwritten correspondence with customers and employees. It is because it’s easy to send an email message and get a response quickly, whereas a handwritten letter requires a longer turnaround time. Of course, businesses also save money on postage costs, especially since it’s easy to get a free email account from Google or Yahoo today.
- Social media platforms like Instagram, Facebook let businesses communicate with friends, family, colleagues, and even strangers online. They can share information and photos with them, regardless of where they’re located. This offers them the opportunity to enhance their online presence so that they can increase their revenue.
- Online chat lets people talk to other people throughout the world in real-time without using their phones. This is a great way to share information about a brand’s products or services, including their phone number or email. It’s also a great opportunity to directly answer the customers’ questions about their business by installing an online chat feature on their website.
- Blogging has grown in popularity over the years. Businesses are now using it for promotional purposes, providing instructional information, and almost everything in between.
- Video conferencing offers businesses a way to use the internet to place calls to see the other person while talking. This will save the company a lot of money since these real-time conversations can happen without ever leaving the office.
- Cell phones’ popularity has increased in recent years because its portability lets people stay connected. They can do this by calling, texting, or emailing. Using social media and placing video calls are great options for remaining in contact via cell phone while on the go.
Businesses cannot ignore technology’s rapid advance or expect it to slow down anytime soon. Owners of small businesses need to adapt or find themselves being left behind while others keep up and reap the rewards. Companies need to understand how technology affects their business and how to apply advancements to their advantage.
The future of Business Communications
The emergence of new technologies is revolutionizing the way we communicate both internally and externally. Still, rapid advancements can make it tricky to keep up with what the future might hold. As we head further into 2021, communication providers help several experts shine some light on upcoming technology trends. Here is what they found.
Although it isn’t a new technology, the advancements made in Artificial Intelligence (AI) are front lining a revolution in communication, particularly within business. In fact, it’s predicted that some form of AI could replace 50% of jobs in the near future. Although this is worrying for employees, it’s fast becoming an essential asset from a business perspective.
Chabot is an automated service that can be used to engage with customers by responding to queries or issues and providing guidance on how to use a product or service. The advantage of chatbots is that they can respond instantly to thousands of customers at once.
Chatbots are already being used successfully in business, and as they used machine learning they’re becoming more intelligent with every engagement. KLM Royal Dutch Airline uses a chatbot known as Blue-bot. According to a report, Blue-bot has recorded over 1.7 million messages from 500,000 passengers.
Artificial Personal Assistant
Technologies such as Alexa, and now Google ‘Duplex,’ could be the future of internal communication within businesses. These forms of AI are capable of making phone calls while adopting human speech characteristics, scheduling meetings, and organizing calendars, naming a few.
As it becomes increasingly intelligent, businesses will soon be able to utilize this technology to operate all internal communications.
Along with communicating directly with customers, AI can make outreach strategies more efficient as well. In a similar way to how chatbots cater their response depending on human engagement, hyper-personalization uses Machine Learning to hit consumers with the right marketing strategies at appropriate times. For example, it would learn from a consumer’s recent purchases and historical data to cater ads specific to them.
These advancements in machine learning will make businesses outreach communication more successful and more efficient. Companies could argue hyper-personalization and all forms of Artificial Intelligence are only in their junior years.
Although it’s yet to be perfected, Blockchain could revolutionize business communication by completely changing companies and customers’ transactions. We are aware of the rise of cryptocurrencies such as Bitcoin; these have paved the way for the Blockchain.
Blockchain works like a continually updating database and stored in multiple locations where it allows digital information to be distributed, not copied, meaning all data only has one owner. Businesses spend so much time, money and effort on each transaction through coordination, synchronization, messaging and checking to ensure it goes through as it should.
Blockchain eliminates all of this by storing a single record of everything, not two separate databases. It has the capability to keep a record of much more than just currency and transactions.
Effects of Technology on Business Communications: https://smallbusiness.chron.com/effects-technology-business-communications-23045.html
The world of Business Communications have changed: https://www.axxys.com/business-communications-changed/
Four Ways Technology Changes Business Communication: https://www.experfy.com/blog/four-ways-technology-changes-business-communication/