The business world has changed completely over the last few years. That’s largely thanks to technology. Advances in technology have completely changed how a business operates and runs in the modern world. We’re more connected than ever and that’s allowed smaller companies to work on an international level. It’s also opened up an international market, increasing the competition and pressure drastically. But tech has also made a business more efficient and cheaper to set up. It’s why lately there’s been a boom in start up companies. It’s interesting to look at the tech concepts that have allowed this to happen.
Marketing a company used to be incredibly expensive. It’s one of the reasons why in the past the market was monopolised by the biggest businesses. They were the only ones that could afford the marketing to get them noticed. If you’ve ever watched Mad Men, that’s exactly what the marketing business used to be like. All the companies would come to advertisers to make expensive campaigns to sell their products. The internet emerged and soon digital marketers arrived. Online marketing is a tech solution that’s cheaper and can even be free. For instance, there’s nothing stopping you setting up your own SEO for a website that you own. Whether that SEO will be successful is debatable but the point is you can do it. Digital marketing is one of the key reasons why smaller companies are finding great success and profitability.
Cloud technology has had a fairly poor reputation in the media over the past few years. There have been criticisms that it isn’t secure and people can’t help but feel amused about the celebrity phone hacking scandal. But, that’s not the cloud tech that’s being used by businesses, that’s cloud tech used by the public. Business cloud technology is considerably different. Telstra cloud solutions allow everything in a company to be connected and complete. If you want a piece of information, you need only access the cloud and you’ll have it immediately. You can also now run an online business from home. Again, this has made costs low, allowing smaller businesses to be more competitive.
E-commerce solutions used to mean taking a company name out of a phone book. Then, you could email a company. Now, everything can be organised online through a website or even an app. You can get everything your business needs online and that has lead to the growth of the online business industry. It’s cheaper that’s for sure, but it’s also made the process of supply and demand far easier. Again, it’s opened up the market but it’s also made things easier for bigger businesses as well. It’s not just small companies that are using e-commerce solutions.
Lastly, it’s difficult to ignore the fact that app development and mobile solutions have had a huge impact on businesses. Apps have made businesses more accessible for customers. But this has also given business owners more purchasing potential. Now, if a company has an app a customer can make a purchase from anywhere and buy practically anything. This has improved the profitability of certain companies and allowed for the success of several major start ups.