The most major shift in technology happened the day the Internet was invented. Although no one could predict the exact way it was gonna go, the Internet ended up transforming the world and causing massive disruption in almost every industry.
The second shift and disruption were caused by the invention of the smartphone. Before the smartphone, the Internet was connected to personal computers. Sure, a lot of people were already using the Internet, but only in their homes. And then – boom! All the information in the world at your fingertips, anywhere you are.
The third shift is happening right now and it’s caused by artificial intelligence. Yes, we are still at the beginning of the curve for this technology, as many experts say, but even the beginning phase is fascinating.
With the new age and its technologies, every industry is affected or soon to be affected by cutting-edge tech and new applications of it.
That’s why it’s crucial for every player to understand the change that’s happening around them.
How Technology Is Transforming Businesses and Their Sales Processes
Today, every business can learn so much about their customers simply by just tracking them and their presence online. It’s easy for a business to learn who its customers are, what are their preferences and their purchasing habits.
You can track their activity on your site and use these insights to improve your sales process. In the past, you had to use market research which cost thousands and thousands of dollars, but now you can get that at a relatively cheap cost.
This tracking technology is at the forefront of many social questions and debates, but at this time it’s possible to track users and their preferences.
One thing that’s really important for sales is activity tracking. You can track the activity of your customer on your site, find out which pages they visited, see their email campaign activity (did they open your email and how many times) and many other details.
Big players like Amazon or Booking.com are especially good at this and the best proof is those emails you’re getting and pages that are suggested to you.
They always seem to exactly nail down your preferences and interests, right?
That’s because they use tracking technology for their marketing efforts.
Business Process Automation
Automation is not new in the business. An argument could be made that the whole purpose of capitalism was always based around automation and efficiency.
The difference is – this new automation is AI-based and it’s smarter every day. We are witnessing much of the change happening in the banking and retail system.
Customer support has also been redefined by automation. The whole sales system has been disrupted and changed.
From the start of your purchase process all the way to customer support, AI systems are tracking and helping to increase the efficiency of the business.
Humans can’t compare or compete with this kind of efficiency at all, especially when you calculate the cost.
Communication is Easier and Cheaper
It was never easier to transfer your message to your customers than it is today. The best part: it’s free (most of the time)! In every social network, it’s possible to communicate with your customers without having a TV or radio network to interfere.
In order to communicate with non-followers, you have to pay for post-promotion, unless you manage to produce a viral video or a post.
“Even paid communication is cheaper and has many advantages, especially when it comes to pricing models, targeting, monitoring and reporting your advertising campaigns”, says Jenna Phillips.
Coworking and management
Tracking and measuring your team and employee’s productivity is easier than ever. Your employees can now work from their home, as well as from the office. It’s easier to provide better working conditions and to track projects and teamwork. Many applications have been developed to serve that purpose.
One of the main remote team communication tools is currently Slack.
New technologies are offering a unique opportunity for companies to grow and hire people all around the world. It’s much easier to expand your business and to save money on labour costs.
It’s easy to keep and provide payments to your outsourced members because of global payment providers.
Sales processes and teams are especially affected by the new technology. Selling was always based on talent, processes, and numbers. It’s easy to implement many software solutions to track and monitor your team, their processes, and results.
Other applications are helping to keep the system efficient and cost-effective such as calling apps, messaging and emailing.
Data management also helps sales processes. It’s possible to track a prospect’s journey at each step of the sales funnel. If you’re not assigned to the results of your sales agent, you can easily assign the prospects to someone else.
Monitoring enables you to track every member of your team which makes it easier to manage and improve their skills and to work 1-on-1 with every member.
Orders and Delivery
Do you remember the old days when you had to wait for your letter to arrive, you had no idea where it was and is it still even on the way to your house? It’s something we’ve completely forgotten with the advent of ordering, delivery and procurement technologies.
Ordering tech enables the customer to directly influence the sales process and make any custom changes themselves. Not only does that give a higher degree of freedom and individuality to the customer, but it also takes some of the pressure off your sales team.
It’s a field that’s constantly undergoing development and progress: as you can see from new services and start-ups cropping up every day.
When it comes to protecting the environment, electric cars are at the forefront of the race. Clean energy is and has to be our future in order to save the planet.
Electric cars are the embodiment of everything we already mentioned in this article. Companies like Tesla are using AI technology to make their cars smarter and less dependent on human control.
They use social media and every possible online channel to communicate their message and promotions with the audience.
A great example would be the last presentation of the Cybertruck. During the presentation the window glass shattered and then the whole world was covering the event, causing a massive viral sensation all over the internet.
Elon Musk, the CEO of Tesla, used online channels in a perfect way, creating almost a cult-like community who are supporting the cause. The argument could be made that many of these models are not purchased because of the car or because of the environment cause associated with it, but because of him as a person and a leader.
In the end, the product is serving a greater purpose by helping the environment. For all these reasons, Tesla cars are the embodiment of the new age technology and processes.
Even though we have already seen spectacular developments in the fields of technology and business, there is no doubt that things will continue to grow and progress even faster.
Experts predict that technological innovations in business will primarily focus on automation, time-saving, social innovation, efficiency and green energy.
We can already see thousands of leading corporations treading this path.
If you want to join these pioneers in disrupting the world of business, educate yourself on the most recent tech (AI, machine learning, blockchain, etc.), visit some of the conferences related to new technologies or follow tech bloggers who are experts on the topic.
Nicole D. Garrison
Content strategist, writer, author
Nicole D. Garrison is a content strategist, writer, and contributor at BestEssayEducation and GrabMyEssay and a number of platforms for marketing specialists. She is a dedicated and experienced author who pays particular attention to quality research. In her free time, Nicole is a passionate runner and a curious beekeeper. Moreover, she runs her own blog LiveInspiredMagazine.