Content Discovery Smackdown: Hootsuite vs. Buffer vs. KloutContent Marketing Minds: Ingredients of the Tastiest Content [Nutrition Label]From the Corn Field to the Digital Era: Content Marketing Starts with TrustContent Marketing: Is 2014 Really Shaping Up to Be the Year of Video?
Your Customers Aren’t Listening! How to Create Consumer Dialogue that Converts4 Tools for Nonprofit Social Listening and Reputation ManagementThe Promising Role of Social Listening in Treating Health IssuesThe Importance of Social Listening for Brands
- Public Relations
Facebook Testing a Way for Users to Buy Products on the Platform7 Website Tips to Attract More Shoppers to Your PagesHow eCommerce, Augmented and Virtual Reality Will Redefine the Retail ExperienceSearch Query Analysis to Increase eCommerce Website Conversions
- Content Marketing
Technology & Data
Social Startups: Bizible Connects All the Dots from Marketing Contributions to RevenueCreating the Perfect Profile for Your Social Media Marketing EffortUsing GPS and Localization for Social AnalyticsAnalytics and Prospect Intel: Discovering Your Ideal Prospect
- Big Data
- Tech & Innovation
3 Security Risks You’re Taking Every Day While Using Social MediaShould the President Have the Power to "Pull the Plug" on the Internet?How Safe is Your WordPress Website From Hackers and Other Malicious Attacks?
- Software & Tools
- Small Business
- Social Organization
Celebrating the Grand Re-Launch of Social Media Today! SBH Podcast Episode 8Why Should You Care If Your Employees Are Thought Leaders?Beyond Engagement: The Art of Managing Social-Media Risk in Employee Advocacy
Why All-in-One Social Media Management Systems Don't Cut It for Social Customer ServiceWhat You Should Know About Customer, Digital, and Contextual ExperienceSurging into Q3: How to Make It Better Than Q2Is How You Serve Your Customers Costing You Business?
Join us September 15th in Atlanta for The Employee Advocacy Summit and learn how to unleash the power of your employees.
Post your event here and we'll share it with our community. If one of our members is featured, we'll promote as well on their profile.
- Marketplace & Webinars
The SMT Marketplace
Your resource for exclusive content and insights from Social Media Today, and opportunities to reach our community of professionals.
The Social Business Book Club brings you books, discussions, and insights from today's to business thought leaders.
Join interactive talks and and panel discussions with leading thinkers and practitioners on social media and networked business, or browse the catalogue of recorded sessions - all completely free.
Reach Social Media Today's community of marketing and communications professionals in an editor-approved context with a native advertising package.
7 Technologies Companies Are Using to Increase Their Profits
Posted on January 11th 2014
Adopting new technologies takes a certain amount of courage as well as a potentially risky financial investment. However, our rapidly developing world necessitates an openness to new possibilities and tech-based ventures. Though adoption of new technology is rarely free, small businesses have a lot to gain with these cost-saving solutions.
Tablets make it as easy to carry a computer in your hand as it is to carry a clipboard. Going paperless is a popular trend for both organization and cost-savings. Yale reported saving $100,000 simply by replacing paper time sheets with an electronic process in their student employment office. From electronic signatures on your contracts to electronic ordering in your restaurant, you can find ways to go paperless in nearly any industry.
Big Data Storage
Thanks to the Internet, businesses have more data than ever at their fingertips. Knowledge is money and small businesses recognize the potential of all this information. With the right data, small businesses can pinpoint their target audience, create accurate business projections, and make informed decisions on all fronts.
More than 40 percent of small businesses believe that big data is linked to increased profitability, though the majority of businesses are intimidated by the barriers to data collection and storage. Fortunately, technology like Hadoop offers an answer. This open source software framework allows for massive data storage on a small budget.
Impressively Fast Internet Technology
Nearly every business relies on the Internet for part of its operations, and some businesses operate entirely online. High-speed Internet technology is an important investment for any company. With satellite Internet speeds increasing all the time, there’s no limit to the potential for this technology. Businesses benefit financially from faster Internet by saving time on all Internet-based operations and reducing downtime for their website.
Automated Social Media Marketing
There’s no question that social media marketing is a popular and effective way to connect with customers and increase profits. The problem is that a strong social media presence requires a major time commitment. Customers respond best to brands that post regularly and stay active on sites like Facebook and Twitter daily. Companies can increase their efficiency on social media sites with automated tools that take much of the legwork out of this type of marketing, freeing staff members up for other campaigns.
Cloud Storage and Remote Communications
Thanks to cloud computing, businesses no longer need a single brick-and-mortar office to operate cohesively. You can run an entire company with no home base thanks to the convenience of the cloud. Store and share important documents through Google Docs, Dropbox, and other cloud storage sites and you can work with freelancers from around the country as efficiently as you would in an office. The cost-saving benefit is that you don’t have to rent a space, provide equipment, or shoulder any cost for the upkeep of a central business location.
Mobile and Online Banking
Mobile banking is quickly growing in popularity and online banking is already the preferred method for 39 percent of bank customers. Maintaining a business account you can get access to from your smart phone offers many benefits. The most innovative accounts allow you to take payments through your phone. You can also transfer funds and check on your accounts while you're on the go so you always have an eye on your financial situation, whether you're at your desk or on the road.
There's an app for just about everything, and small business owners are finding that apps are now well-placed to handle many administrative functions that would otherwise eat up time and money. Popular business apps include those that provide GPS navigation, contact management, remote document access, and travel planning.
According to a survey published by the SBE Council, 78 percent of small business owners believe that mobile apps help the company save time and nearly half agree that sales and revenue have increased as a result of mobile app use.
You can dramatically improve the way you do business and pad your bottom line nicely with the right technological choices for your company.