If you want to grow your organization as quickly and as solidly as possible, then you are going to need to maximize the leverage of your resources. This means you need to make the most of every resource and opportunity available to you to improve your efficiency, gain a foothold in the market and outgun your competition.
There are many examples of this kind of leverage, including hiring more staff to multiply yourself and investing in machines to automate previously manual processes. However, we live in the digital age, which means that digital technology has become the number one source of leverage in the business world. Whereas a century ago, business owners relied on huge workforces toiling for seemingly endless hours to maximize productivity and profitability, the same effect can be had by using software and other technologies these days.
This means it is wise to reduce the number of paid employees within your business and focus more on automating processes using technology instead. Here are some tips for leveraging technology within your business in 2023:
Onboard New Empoyees Using Software and Online Training
There are no shortage of time-consuming tasks to complete within a business, but one of the most irritating areas that needs attention is administration – and specifically human resources. The reason why this is irritating to many business owners is that it takes your time and energy away from profitable tasks – such as outreach, marketing and service delivery.
However, rather than hiring a whole team of employees to manage your HR department for you, it is now possible to use software for HR instead. This enables you to complete otherwise lengthy tasks like employee onboarding, severance negotiations, and contract signing to automated software, saving you considerable amounts of time and money.
Use chatbots to communicate with customers
Another area of your business that might be taking up a lot of time and resources is customer service. While it is vital that your company upholds an excellent customer service approach, it can be incredibly resource-rich and traditionally requires you to hire a large team to handle the inquiries.
Instead, you could place a chatbot on your website, which is equipped to handle basic customer service requests – such as refunds, FAQs, advice on product purchases, and other simple requests. Of course, being a chatbot, once installed they run around the clock, all day every day for your business, without having to work in shifts during working hours.
Collect data and use it to improve your workflows and products
Data is the currency of the modern world and for good reason. It enables businesses to understand their target markets far more closely, which in turn helps them develop their products in a direction that appeals to their customers, market their brand more effectively, and start solving more problems that the customer needs help with.
To collect more data about your target market, you could install cookies and other tracking software on your website to analyze buying behavior, as well as whether customers return for repeat purchases.
