Staying up-to-date with technology trends is challenging but crucial to any modern business. If a business continues to rely on old systems, it will inevitably risk fiscal and reputational damage.
That reputational damage is real: clients rely on their emotions as the primary indicator of how a business relationship is going, and if they feel your business is being left in the past, they’ll look elsewhere. Simply by failing to embrace the new norms of digital communication, a company risks losing clients to competitors.
A BCG study looked at the varied and powerful technologies and trends of this age. They contend that even something as simple as a communication software, when selected correctly, can enable superior customer experiences and more direct and valuable relationships.
The potential is high, but the longer companies delay implementing new customer-facing digital tools, the more opportunities they sacrifice. The study’s authors encourage businesses to upgrade technology based on automated processes and intelligent algorithms. Software that simply spruces up traditional processes or adds sleeker designs isn’t worth the effort.
(What BCG has so expertly phrased is what we like to call the Same Circus, Different Clowns Effect. You’ll find yourself victim to the SCDC Effect by believing that a new provider of the same technology will reduce friction in your life simply because it’s a different provider. The work required to transition from old technology to new turns out to provide no ROI. For a business professional, this might happen when you upgrade your CRM, or move your website to a new builder.)
The authors believe the most powerful benefits of upgraded technology are the “smart improvements.” These improve the efficiency of people working together, which is hugely impactful for any people business. The ability to share, communicate, and collaborate personally and in real-time allows business professionals to strengthen relationships with their customers. Simplified workflows save time and nicer designs are pleasing to users, but the ROI of technology that facilitates communication can enable stronger relationships, which is more impactful to a business’s ROI.
Communicating with customers based on advanced technology trends eliminates pain points in your relationships, surprises them with better service, and redefines how they think of you. Since a successful business is based on emotional satisfaction as much as it is on achieving definable goals (financial or otherwise), the value for your business is measurable.
As BCG says, “the essence of true digital transformation is leveraging digital tools to push smart simplicity into organizations and unlock latent productivity.” Vestorly marketing technology is based on the technological trends recognized by BCG like robo-processes and automation. It simplifies the marketing tasks others have accepted as inevitable. Customers power their emails marketing, social media, and web content automatically (try it out free). Our tool has unlocked productivity by allowing professionals to rely on AI instead of their own time, manual efforts, and knowledge.
And in fact: companies that use groundbreaking technology to lead a digital transformation are 26% more profitable than their industry average.
Start your digital transformation now.