Technology is rapidly evolving and will continue to do so over time. Know how the digital revolution will change the way you operate your small business.
Every era has a turning point wherein people’s lives change for the better. Today, people are experiencing what is known as the digital revolution. With everyone on their mobile phones and handheld devices, technology has crept its way to almost every aspect of our personal and professional lives.
What is the Digital Revolution?
The digital revolution refers to advancements in technology for better, more efficient business systems and way of life. Contrary to what you might be thinking, the first wave of the movement started in the 1960s when computing systems launched. It is currently nicknamed as Industry 4.0 or the fourth industrial revolution, referencing the fourth wave of the digital revolution.
Its growth in the 2010s has become exponential. If you look left and right, you’ll see people of all ages with smartphones, laptops, and tablets. These tools have helped us in messaging, productivity, and even in marketing. Many business startups owed their success in part to their digital marketing efforts. They were able to reach bigger audiences than they imagined.
Marketing: Digital vs. Traditional
Back in the day, traditional marketing was more aggressive. You would see posters, print ads, and billboards covering every space around you. Print media was dominant and was considered the best way to disseminate information.
Digital marketing has found ways to be a bit more intuitive and personal. Besides digital banner ads, consumers now can receive timely messages on their inbox and experience 24/7 customer support. This technique changed the way businesses operate forever.
Advantages to Small Businesses
Technology has helped small to medium businesses grow and operate more efficiently throughout the years. Here are some of the ways it has improved entrepreneurs’ lives, from marketing to logistics.
1. Targeted Audience Reach
As mentioned earlier, the digital revolution has allowed businesses to operate their marketing efforts online. This means they can specifically target audiences they want to reach with the online marketing tools available today.
Additionally, more and more consumers are now mobile. The latest wave of the digital revolution allows businesses to optimize their posts for smartphones. With people constantly checking their phones now more than before, it’s essential to place your ads where it is most seen.
2. Cloud-Based Computing
Cloud-based computing has helped all kinds of businesses. You can do data-centric tasks like inventories, customer relationship management, and payroll entirely online. Cloud storage has also made things more convenient when it comes to archiving reports and company information.
Data automation can save time for your team because there’s no need to use your workforce for repetitive admin tasks. Instead, you can dedicate time to your core tasks and goals so that you can grow your business.
3. Better Market Analysis
The digital revolution has brought about what marketers know as ‘big data.’ Through data analytics and buyer profiling, you can better understand your market or audience. If something’s not working, it’s now easier to pinpoint why and modify your ads with a few clicks of a button.
The new generation of millennials and Gen Z consumers will slowly comprise most of the market soon. These generations were born in a time when mobile phones are considered necessities. Hence, it’s imperative to dive into the tools that they use and see which products can make their lives easier.
4. Improved Communication
Tech has also developed the way people communicate. It’s now possible to discuss ideas on the fly and handle things remotely. Previously, team members would always need to meet each other personally to get things done. Delegation and task management has become more convenient.
Connectivity is critical not just for your team members but to your audience as well. For a lot of industries, it’s important for consumers to have access to 24/7 online support. It helps build your relationship and credibility with your audience.
5. Lower Marketing Cost
Great marketing has specific financial demands. However, smart marketing practices are there to optimize your budget. You can study trends and data, so you know where to funnel your resources.
However, not all your efforts have to be paid. Even constant social media presence can be of great help for your brand’s exposure. For instance, the use of Instagram’s hashtags has been proven to increase the reach of your post versus not including any hashtags on your post.
Compared to tangible ads and print reproduction for traditional marketing techniques, digital methods are great for managing the cost of your marketing strategies.
Technology will only continue to innovate over time, and businesses will have to adapt no matter what. The benefits are hard to ignore, and overall, it creates a better experience for both your business and your consumers. It’s exciting to see what developments will happen next.