Business Technology Innovations Can Allow Any Company to Go Global - Now!
In a lot of ways, the information technology revolution hasn't really begun for many smaller companies as it has for larger companies with large budgets, personnel and large departments focused on adopting technology solutions to business initiatives. The reason for the lack of technology adoption generally is multifaceted, but largely due to a lack of familiarity by the business owner of these powerful new technologies and an understanding of the value they can deliver to enhance business. Few small business owners have technical backgrounds and even fewer technical people working for them have business backgrounds. A good multi-disciplinary technology consultant can help you identify opportunities you may never have considered.
Paradigm Shift -- Social Media
The University of Maryland's Smith School of Business looked at the relationship between social media and small businesses.
The study concludes that nearly one in five small business owners are integrating social media into their business processes — Facebook and LinkedIn were the most popular sites. In fact, 45% of surveyed respondents even believe their social media initiatives will pay off financially in 12 months or less.
However, 4 out of 5 companies are not utilizing social media and are not significantly integrating social media into business processes. But consider the statistics:
- One billion people actively use Facebook every month
- 500,000 people use Twitter every month
- Google’s +1 button is used 2+ billion times each day
- 5 million photos are uploaded to Instagram every hour
- 3,600 hours of video are uploaded to YouTube every hour
Social media marketing programs usually center on efforts to create content that attracts attention and encourages readers to share it with their social networks. A corporate message spreads from user to user and is ascribed a high value because it appears to come from a trusted source as opposed to the company itself. Key social media goals for private companies include:
- General branding and company visibility
- Interact with your audience with a direct message or offer
- Drive traffic to your Web site (make sure your web site is worth driving traffic to!)
- Market a new line of products or promote new product releases
- Be aware and take immediate corrective action on negative feedback
Paradigm Shift– Cloud Computing
No longer is a desktop computer and off-the-shelf software the norm. Hand held tablets, smart phones and mobile apps are currently the trend for consumers but are being widely adopted by companies for quality control in factories, point-of-sale, warranty management and customer communication. Additionally, the “Cloud” represents the most significant technology shift for private companies.
Cloud computing is the use of computing resources (hardware and software) that are delivered as a service over a network (typically the Internet) thereby obviating the need for capital investment in technology and use-based pricing similar to electricity usage. End users access cloud-based applications through a web browser or a light-weight desktop or mobile app while the business software and user's data are stored on servers at a remote location. Key advantages include:
- Achieve greater scale with fewer employees and little capital investment; cost is “by the drink”
- Go global at an earlier stage by deploying Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) technology not previously available to mid-sized companies
- Deploy on-line CRM and customer care to "re-personalize" your customers’ experience and make relationships more “sticky”
- Use technology to bridge the gap between offline and online worlds
Smaller companies have an opportunity to more effectively compete with larger companies by using information technology to level the playing field. These emerging information technologies do not require large capital expenditures or hiring of highly talented technical resources. It does require judicious use of business consultants well-versed in the application of these technologies to mid-market companies.
