If you own or operate a business, and you aren’t up to speed on the latest advancements in business tech, you are likely falling behind.
Technology trends have been taking over the business world for quite some time, but the COVID-19 pandemic accelerated the process. 76 percent of businesses changed their IT strategy due to the pandemic. But business technology is here to stay.
So which business tech trends should you watch out for? And how can you implement these advancements to help streamline your business?
In this guide, we will talk about some of the biggest up-and-coming business technology trends. We will look at where these trends are headed and why you should be on board with them.
What Is Business Tech?
Business technology is a term that encompasses all technology used by businesses that assist with or simplify their business operations. That technology can help in all facets of a business, whether it’s with customers, the general public, employees, or the back end.
Business tech serves several purposes. Generally speaking, technology reliably streamlines business operations. Business tech also minimizes manual tasks to maximize employee productivity.
Here are some of the business technology trends to watch out for in the next few years.
Social Media Trends
Social media is imperative to business growth. Businesses are investing in social media strategies to expand their online community. Connecting through online platforms is a great way to build brand awareness, connect with customers and reach prospective clients.
There are several social media trends to watch out for in the coming years. But here are a few of the biggest ones.
Social Media Advertising
Social media ads allow businesses of all sizes to cut through the digital noise and reach their target market. Most social media ads are still relatively inexpensive and yield outstanding results.
Businesses are heavily focused in this area, particularly on the TikTok platform, which has benefited almost every industry.
Social Media Influencers
Social media influencers are one of the best tools at the disposal of marketers. 80 percent of buyers admit to making purchases because of a recommendation from a social media influencer.
When you partner with a social media influencer, your brand reaches a large list of followers. It is trusted peer-to-peer marketing directly to your target demographic.
Tech-Assisted Shopping
Businesses are also expected to use social media to assist with easier e-commerce. Customers are now able to set automated reminders on platforms like Instagram to remind them when promotions launch.
QR codes have also made a comeback since the beginning of the pandemic. As businesses look for ways to improve the contactless shopping experience, customers are scanning QR codes for a faster check-out.
E-commerce continues to rise year-over-year. Mobile and social media buying is the future of shopping.
Software Technology
Business software and cloud systems are revolutionizing the way businesses function. This was even more prevalent during the pandemic. Workers were forced to carry out business from home.
Software Integration streamlines administrative data and operations. It allows employees and management to focus on the bigger picture. It is an organized and reliable way of doing business.
Here are a few software trends that are on the rise, that can help with business expansion.
Remote Onboarding & Training
With the rise in remote and hybrid work environments, businesses are investing in remote onboarding technology. This software will allow new employees to train and onboard effectively, even if they are outside of the office.
The pandemic forced businesses to reevaluate the onboarding process. This was particularly true when it came to integrating new employees into the company culture.
By using this technology, businesses ensure that the onboarding process is the same experience for everyone. It also prevents knowledge gaps.
HR Software
The pandemic also forced businesses to think about software human resources.
Business software is being used to handle payroll and store employee data. Businesses are also investing in software that keeps track of the work employees are doing from home.
Cloud systems are a secure and efficient way to store confidential data for human resources.
Cloud-Based Software Technology
Businesses rely on the cloud to handle day-to-day tasks. This type of software unifies different aspects of a business in one place.
Cloud-based systems assist with scheduling, CRM, payroll, finance, and more. It can even help businesses with client communications.
By streamlining these tasks, business owners have more time to take on bigger projects.
Automation
Automation is another business tech trend that has grown in recent years. Cloud-based systems include automated options to minimize repetitive tasks for a business.
Businesses send automated responses to clients or potential leads. Automation is also being used by marketers to help increase brand awareness.
This saves businesses time spent on small tasks. It makes the workplace more productive.
AI Business Tech
Artificial intelligence (AI) is the simulation of human intelligence through a machine. This takes automation one step further. It’s estimated that AI will drive 95 percent of the customer experience by 2025.
This technology provides a more personalized experience for customers. It reacts like a real human, learning from its previous experiences and adjusting accordingly. It can also manage tasks automatically and efficiently.
AI is already being used in a lot of customer support chats. But it is expected to be used more with voice assistants as well.
Within AI, virtual reality (VR) technology is expected to become more popular. Companies will use VR to create realistic environments for customers. It is also expected to be used for visual storytelling and branding.
Businesses are expected to invest more in this area, as those who begin using AI now will be ahead of the curve. Business consultants recommend investing in this technology now because it will be the way of the future.
Cybersecurity
While many small businesses do not see themselves as a potential risk for cyber attacks, experts say that mentality is dangerous. Businesses of all sizes are at risk of cyber breaches, which are on the rise.
Nowadays, you aren’t just protecting the security of your company data; you are protecting the data of your customers too. A cyber attack exposes a business to more than just financial loss or leaked trade secrets. It can impact your brand and consumer trust.
Businesses are expected to spend more on cybersecurity systems. 86% of organizations surveyed admitted to being a victim of a cyberattack. So this is an expense that is a necessity.
Virtual Video Communication
While many businesses have returned to in-office work, the pandemic has changed work culture forever. Businesses are turning to video communication technology like Zoom and Loom to stay connected.
Video communication platforms like Zoom allow for remote meetings. This is still relevant to companies that have gone fully remote or those working in a hybrid model.
Platforms like Loom make it easier to communicate ideas. Simply hit record, and the screen will record a video of you explaining your thoughts efficiently.
Video communication is also being used to generate new leads and meet with prospective clients. And more organizations and industries are hosting regular webinars as a form of career development.
It is a great tool for networking as well. If you cannot physically meet in person with someone, you can meet face-to-face virtually from anywhere in the world.
5G Business Technology
Businesses are opting for 5G technology. 5G is the fifth-generation mobile technology. It has been known to transfer data at a rate as fast as 1GB per second.
It will be faster to share information than ever before. It will run off clear radio frequencies, moving information swiftly into the air.
5G technology is expected to make a big splash in the business world. It creates an online world with little to no lag. It will also allow for innovative tools like VR technology to run smoothly.
AI technology will be much more effective with the speed of 5G as well. Clients won’t have to wait long for a response. Information will flow quickly. And 5G technology allows for better data collection.
This small change to daily operations will save businesses a lot of time. They will be far more productive. It will also allow for more technological innovation in the workplace.
Take Advantage of Business Technology
If you’re looking for a way to optimize your business operations, you might be wondering how business tech can help. Business tech is changing rapidly, and business owners will need to keep up if they want their businesses to survive.
By implementing the tech trends in this guide, your business will continue to adapt to the changing landscape. Using technology streamlines operations and can make your business run more efficiently.
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