Technology and the Corporate Ecosystem

The modern workplace is progressively reshaped by advancing eCommerce technology as we speak. Both small and big enterprises are bringing a more considerable amount of changes every day to keep up with ongoing trends. Innovation is the talk of the town, and businesses are searching for better ways to manage their tasks and monitor their daily operations. This has also opened doors for many MNCs (multi-national corporations) to seek out a diverse set of skills and labor to get the edge over the competition.

Gone are the days where paperwork would keep on piling up, and meetings could only be attended in small, suffocating rooms. With the advent of the internet and smartphone technology, it seems business has achieved tremendous mobility. Now you can travel with all of your office resources by simply carrying them in your pocket. Moreover, software and hi-tech hardware have made it possible to conduct multiple procedures at lighting fast speeds. In this post, we would like to focus on Chatbots, CRMS, and marketing automation that is changing the way we do business rapidly. Let’s take a quick look at what they have to offer us:

Chatbots & their Impact on Enterprises

Warmly known as virtual agents for your businesses and enterprise, chatbots are being used by many corporations today as an essential utility tool. This year 80% of companies around the globe propose to implement by the end of 2020. Their benefits include:

1.       Extensive Customer Assistance

As a new outlook for customers, chatbots are used primarily to incite your clientele. Nearly 44% of US customers prefer to communicate with chatbots rather than human interventions when it comes to building customer relations. With the ability to evaluate performance and perform optimization at a consistent level, you can deliver resounding assistance for customers down to the most intricate of details. 

2.       Proactive Customer Interaction

There are various means through which you can use chatbots to deliver a robust marketing scheme. Not only do they offer personalized interactions that can be customized to suit the personal preferences of individuals, but they can also provide credible advice to customers. The more knowledge you feed into their data banks, the more adept they become to deal with information that is relevant for users.

3.       Enhanced Customer Engagement

Apart from adding to your overall sales and inducing more value to your customer services, chatbots never tire. This means you can keep on feeding them, and there will still be room for more information to digest. This voracious appetite helps in building better engagements with customers. Chatbots record logs include private and personal information of customers, including name, profession, contact details, and much more. Thus they can successfully engage customers with the help of all the data at their disposal.

Marketing Automation & Their Benefits

There is a generous list of marketing software and technology platforms that can help marketing departments to achieve heightened levels of performance. These gizmos thus bring in a range of advantages for business, including:

1.       Reduced Staffing Cost

With the ability to streamline work, maintain quality standards, and adding an adequate safety layer to all valuable information, automation software keeps you and your team up to date. Hence with the entire department on the same page, marketing automation can help you cut down on redundancies within your existing structure and reduce your overhead cost involved in performing a variety of tasks.

2.       Increase in Revenues

Perhaps the most promising aspect of utilizing marketing automation is to offer you a terrific boost in sales. By the end of 2019, the US industry for Marketing Automation Software reached $6.1 billion mark.  Furthermore, you would also find that 75% of marketers in the industry currently use at least one automation tool for their marketing tactics. In order to produce better revenues, ‘martech’ as it is commonly called uses various metrics. These include customer experience mapping, dynamic content, AI with predictive modeling, and re-engagements for customers, to name a few.   

3.       Improved Control & Monitoring

Many of the marketing automation tools offer you a dashboard that is able to present assimilated data into digestible chunks so that management can go through them and make adequate decisions. This enables organizations to identify bottlenecks very clearly.

In fact, the birds-eye view of reporting style can even help you manage your resources, their inputs, and outcomes exceedingly well. Not only do these tools offer you crucial feedback, but they also showcase potential downfalls and shortcomings with the help of visual aids. 

CRMS & What They Can Do For You

Customer Relationship Management software is specifically designed to handle all of your customer’s information and aspects. Hence it helps to not only assimilate valuable data about them but also helps your organization to keep a record of all the interactions that take place in between. Hence it opens up a lot of avenues for your company where you can work on your strengths and improving upon your weaknesses. Other benefits include:

1.       Better Client Relationships

We all understand just how fierce the competition is nowadays, plus customer expectations are exceptionally high. CRM can help you transform customers into walking-talking business advocates, which in return can help you to generate even more sales.

The underlying value is to make your organization better and offer much more improved services than before. Eventually, your methods and procedures become more scalable, which leads to more profitable ways of customer service and support. In fact, AI in the future will be able to inform you whether buying Captain America Winter Soldier Jacket is a good investment or not based on current and ongoing trends.

2.       Greater Team Collaborations

Another benefit is that CRM is intended for the use of a wider audience. Hence an enormous number of employees belonging from different departments can access, share, and relay information. Thus your entire workforce can stay informed and be on the same page.

 This can then proceed to offer you better cooperation and collaboration between different teams and groups. Hence your overall efficiency at work naturally rises. Lag time is reduced, the workflow becomes frictionless, and your organization can achieve more in a lesser amount of time.

3.       Augmented Client Efficiency

Lastly, there is no doubt that CRM makes your interactions and engagements with the client better with time. The more information you feed into the system, the more insights you can generate about them. However, a lot of the times, CRM helps you in overcoming bottlenecks that are not visible at first but slowly start to show you how they can cause problems for clients. Furthermore, CRMs can also help you to remove redundancies in your process, thus increasing your overall efficiency once again.    

Conclusion

There is no questioning about the fact that technology offers you an incredible platform to grow and expand your business at an astonishing rate. However, before companies can deploy such advance maneuvers in their mix, a thorough understanding of its capacity and proper utilization is required.

Without the appropriate knowledge or know-how, corporations cannot optimize their use of technological assets such as chatbots, marketing automation tools, and CRMs. Hence when the management of an organization decides to introduce new technology at the workplace, they should not only help their workforce to get familiarized with it but, in fact, offer them in-depth training. This will empower them to optimize their usage of said technology and thus generate the best possible results.

In the end, we can say it is not the tool but the user who should be questioned. Margaret Atwood, a Canadian poet, once stated that “Science is a tool, and we invent tools to do things we want. It’s a question of how those tools are used by people”.

Author Bio

Amanda Jerelyn currently works as a Business Executive at Crowd Writer, where students can acquire professional assistance from essay writers UK to deliver top-notch papers. During her free time, she likes to blend in society to find out exciting topics to talk about, write, and share with her audience.