Accelerate your revenue growth with technology solutions and expertise.

Are you an entrepreneur looking for ways to boost revenue and optimise your business? The rapid-paced advancements in technology will benefit you in this direction. With comprehensive research and planning, you can utilise them efficiently.

All around the world, digitisation has become a top priority for businesses. It is more than just a trend and offers a massive edge over competitors. Therefore, you should work it into your business for increased revenue.

This blog takes you through the various ways you can boost your revenue through technology, its challenges, and strategies that help you get ahead.

Technology Solutions That You Can Adopt

Here is a list of digital technologies you can incorporate into your business strategy to optimise revenue.

1. Enterprise Resource Planning (ERP) Software

ERP is a business management software that allows for the integration of all the processes in the company. Everyday business activities like accounting, procurement, project management and supply chain operations are mediated by software. Moreover, ERP plans and evaluates a company's financial performance. The introduction and growth of cloud-based storage added to the efficiency of this software.

The benefits of an ERP solution are many:

• You can streamline your business operations and monitor them from one place.

• You can automate repetitive, essential processes.

• It offers improved reporting, reduced operating costs and increased overall efficiency.

If yours is a growing company, this software is the next thing you should include in your operating model to accelerate your growth. Contact Growth Jockey today to make the most out of this technology.

2. Mobile Applications

Mobile apps are predicted to generate over $935 billion in revenue by 2023. This is a testament to the explosion of its users worldwide. As a result, businesses have noticed, and most of them roll out an app of their own within a few weeks after entering the market.

Developing a web app is a significant step towards ensuring consumer convenience. They do wonders for accessibility and building a stronger brand. You can offer your services remotely, boost customer loyalty through incentives, provide instant customer support and even provide entertainment.

Today, where smartphones and tablets are responsible for a significant portion of online traffic, getting a mobile app might be the final piece of the revenue growth puzzle.

3. Customer Relationship Management (CRM) Software

The quality of your company's customer interactions is critical to profit generation. However, keeping track of your customer communication in this omnichannel age can become challenging.

CRM software solves this problem by managing your company's relationships with consumers and making the process hassle-free.

It concentrates all of this data in one central location so that companies can improve connectivity and engagement with customers. Consequently, revenue cycle improvement comes about.

4. Email Marketing Automation

Email marketing automation is one of the most powerful tools to nurture and enlarge the customer base. Automated workflows ensure that the right content reaches the right people at the right time. You don't have to put in the effort every time.

A study revealed that 90% of customers find personalised content appealing. Automated emails let you do this efficiently. Furthermore, they change how marketing teams do business and allow time to focus on other crucial areas.

Making new clients feel welcomed and following up with loyal customers is much easier when you set up automated workflows. If you need help with the initial set-up process, we at Growth Jockey are here to help you with that and much more.

Key Challenges to Overcome

It is pretty evident that technology increase revenue. However, it is not easy to adopt and implement. Fail-safe strategies and critical thinking are indispensable while adopting technology solutions. Otherwise, there is a danger of complications in significant processes.

Knowing the potential difficulties that could arise is the first step towards overcoming them. So, here are some of the common challenges faced by businesses.

Complexity of Technology

Digital solutions and software are often complex and challenging to grasp. They solve many business challenges, but getting started with them can be intimidating.

Without proper expertise, time, and resources, businesses face several disruptions in implementing software solutions.

Our experts at Growth Jockey are trained in technological processes. You can handle the complexities with our assistance.

Meeting Consumer Needs Consistently

Consumer behaviour keeps evolving with the changing times. For instance, the pandemic altered their needs and expectations from businesses. They require better personalisation and fast responses and want more than a single channel.

In response to this, many businesses sought digital transformation for continued growth. However, they must also optimise it according to the newest consumer needs. This rigidity and resistance to change hampers development.

Security Risks

The urgency of the need for technology solutions resulted in companies rushing to implement them without sufficient protection against the associated threats. Therefore, their exposure and vulnerability to cybersecurity risks increased.

According to statistics, companies saw a rise of 27.4% in the annual number of security breaches. This number is expected to go higher every year.

Businesses don’t always comprehend these threats, leading to inadequate security strategies.

Lack of a Skilled Workforce

The unavailability of technically-skilled employees hinders the digital transformation of numerous companies. New advancements require constant upscaling of the workforce. The employees need to keep learning.

An organisation that functions primarily by machine-driven processes will witness a vast increment in revenue. On the other hand, this means that even non-technical positions will require basic knowledge.

The need for more digital experts in analytics, cloud, and cybersecurity, vital to a company's technological transformation, aggravates the skills gap. In addition, it makes the recruitment process expensive and cumbersome.

Disconnect Between Teams

The presence of silos in organisations acts as hurdles to a smooth takeover by technology. Further, the lack of communication between various teams impedes the holistic development of the company.

Without a clear and unified vision, each department focuses on its advancement. Subsequently, this will lead to independent decision-making. Productivity will eventually come to a standstill.

Ways to Get Ahead of Challenges

Although variables make adopting technology solutions seem daunting, there are strategies you can implement to conquer these obstacles and increase revenue. Here are some of them.

Analyse the Status-Quo

Conducting a thorough study of your current process and operations is the first step towards a digital future. You need to look into the efficiency of the existing processes and the results that they have been providing.

Moreover, it would help if you also considered your needs, both in the present and for the future, and prioritised them. Having done that, you can look at where the implementation of software solutions would be most beneficial.

Align Your Initiatives with Your Goals

Your company's digital transformation should be directed and oriented towards achieving your intended business outcomes. Additionally, it should solve your existing problems. Implementing digital solutions randomly, without direction, is counterproductive.

The chosen program should enable employees to be more effective at their jobs, improve the consumer experience, and drive revenue. While planning the budget, resources should be allocated according to areas that will contribute most towards achieving your goals.

Be Ready to Adapt

Ensure that you are agile enough to meet the transient consumer requirements and preferences. Digital transformation is not a one-time process. Consequently, variations and revisions must be a constant in your company for continued growth.

To compete on a global scale, adaptation is crucial. You should be ready to take advantage of any chances that arise. Further, make sure to cast away the hold of traditional, outdated practices.

Bottomline

The path forward is replete with opportunities with the ever-evolving market needs and technological advancements. But keeping up with these might become quite a struggle. Moreover, improper execution of technical solutions and expertise might cause more problems than they solve. Proper planning is the key to a boost in revenue and success in your business.

Seeking professional help from Growth Jockey is a one-stop solution to all your problems. With years of expertise in helping businesses unlock their potential, we will provide the best technology solutions to yours after a proper analysis of your needs. You can lead your company to a flawless transition to a technology-driven workplace environment with us.

At Growth Jockey, our unwavering dedication lies in creating customised models that effectively tackle the crucial challenges confronted by our clients across diverse industries. Regardless of the size of your company, whether a small-scale enterprise or a large corporation, you can now leverage cutting-edge technology to drive revenue growth.

Take the decisive step towards unlocking the next level of growth for your brand by contacting us today!