5 Signs Tech Could Be The Missing Piece In Your Growth Strategy

To stay ahead of your competitors in a crowded market, you’ll need to continuously innovate and improve your processes. In many cases, embracing new technology is what you’ll need to stay ahead of the game. But how do you know it’s time to make the leap and invest in the latest tech solutions? Here are five signs that tech could be the missing piece in your growth strategy.

1. You’re Struggling to Get Things Done on Time

There are only so many hours in the day to check everything off your to-do list. As your customer base grows, there will be more orders to fill, questions to answer, and interactions to manage. If you’re handling most of these things manually, you just won’t be able to get everything done each day. This will lead to dissatisfied customers. You also won’t have time to focus on marketing or developing new products.
Growth Strategy
Technology, especially with the rise of machine learning and generative AI, is great at helping with rote, repetitive tasks. A customer relationship management system, for example, could automate many of those customer interactions, from welcome emails to support inquiries. Letting your CRM tackle routine communications frees up your team to focus on innovating and doing more outreach with prospects. If you’re not sure which types of technology to invest in, consult an online growth agency. These agencies stay abreast of all kinds of emerging tech and can help you keep your strategy efficient and adaptable.

2. You Need to Expand Your Geographic Customer Base

Many businesses start by focusing just on customers in their local area. However, this limits your growth potential, especially if you’re in a town or small city. Once you’ve connected with all the potential customers in your region, you’ll need to expand to other markets to keep the business growing. Whether you sell products or services, and whether you market to consumers or to other businesses, technology makes this easier than ever.

Even the most brick-and-mortar retailers have online shopping options these days. E-commerce platforms make it a snap for customers to see what you’re offering and to buy it friction-free. But say you provide content marketing services to small- to medium-sized businesses. To serve customers outside your area, you’ll need to invest in digital customer support and communications platforms. With the help of the right technology, you’ll be able to expand into surrounding markets without opening up a new office or hiring new staff.

3. Your Brand Visibility Is Stagnant

In order for your brand to keep growing, customers need to know who you are and what you do. If you find that you’re struggling to keep your brand visible, you might not be using the right technology. Word-of-mouth and traditional advertising options only go so far - it’s time to go digital. Many online marketing and sales solutions can help you boost your brand awareness among your target market.

A great place to start is by investing in search engine optimization for your website and paid search advertising. These tactics will help potential customers find your business on Google. Social media marketing is also key for generating buzz. Social media management tools can help you identify social trends, develop and schedule your posts, and monitor your engagement.

4. You’re Worried About Digital Security

Many small businesses neglect their digital operations, which can pose security threats as they grow. Cybersecurity incidents are more common than you might think for small businesses. In fact, 59% of businesses have experienced a third-party data breach of some kind. If you’re leaving your network unsecured, it could make you a target for these attacks.

Implementing new technology - a robust firewall, an intrusion detection system, updated antivirus software, etc. - will help keep your team safe online and protect your operations. And be sure to update your software applications routinely, as developers regularly release patches to address security vulnerabilities they’ve found in their programs. Taking the time to update periodically is simple, but it goes a long way toward keeping your business safe.

5. Your Team Is Disorganized

Technology is one of the most efficient ways to keep your operations organized as you grow. Without technology, you might find that your internal communication is disjointed and you can’t keep track of your progress. This will impair your team’s productivity and make a poor impression on the customers you work with.

If your project plans still live on whiteboards, and action items are assigned in meetings or hallway conversations, you’re past due for a tech intervention. Consider investing in a project management tool to help you keep tabs on all work in progress. These tools will help you track each project from start to finish and assign tasks to your internal stakeholders. Additionally, internal communication platforms will allow you to communicate via instant message, rather than confusing email chains. You can also implement video conferencing solutions, which are particularly helpful if part of your team is remote.

Final Thoughts

The right technology is a must-have if you want to get ahead of the competition. There’s a limit to what you can get done each day with manual processes. Technology will help you work more efficiently, and your customers will benefit from the results.