With the scope of technology revamping the business world, your IT partner could be the reason your success grows; it could also be the reason your business collapses. You should not feel guilty thinking about switching IT providers. There are many companies that are unhappy with their current IT situation. However, there are even more that don’t realize that they could have it better. One of the main things that makes a company successful is staying relevant. If your customer base is ageing, you need to do well to adapt to their needs as they change. If you focus on one set of demographics, it’s dire to keep up with their behavioural changes.
One of the biggest business trends out there today is the need to adapt to tech changes. If your competitors are providing a service that you don’t, or if they have updated tech and do it better than you can- you will miss out on a portion of the market, and this loss could eventually spill over into overall customer retention loss. IT providers should act as partners, focused on improving your bottom line.
Millennials and Your Business Internet Speed
Millennials include those born between 1981 and 1996 (ages 22 to 37 in 2018). Research shows that 73% of Millennials are involved in B2B purchasing decisions. Millennials are trendsetters and are very active on social media; consequently, they influence the other generations’ purchasing habits. Millennials are actually expected to surpass Baby Boomers in population in the U.S. in 2019.
Whether your business is in B2B or B2C, you will benefit from practices that attract this generation. The power that comes with these numbers is unavoidable for a successful business.
Millennials are trendsetters and decision-makers. They have influence and buying power. Millennials are more impatient than their predecessors. Information is at the tips of their fingers. In fact, they can just vocalize their search requests to learn more about the product or service they are considering.
Here are some examples of what Millennials expect:
- Places with wait-times, or line-ups, would have an easier time keeping customers happy with good Wi-Fi connection available. It also doesn’t look good when your employee is embarrassed over how slowly the system is loading while the customer is standing right in front of them. (Consider medical offices, accounting firms, law offices, dental practices, massage clinics, cafe’s, restaurants, school offices, etc.)
- 81% of Millennials use smartphones regularly and 92% shop online –make sure your website, social media posts, and online ads are all very mobile-friendly.
- Millennials expect your site to load fast. Stats show that 40% drop-off your site after 3 seconds of load-time. Make sure you have high-speed internet. Fiber is the way to go. If you don’t have fiber optics, you’re already behind!
If You Don’t Invest, Your Business Will Not Grow
Businesses fail because they do not invest in the right things. Every business owner makes mistakes, but it is how you bounce back that will define your brand in the long-run. With the tech era afoot, it is time to focus on your business tech infrastructure. The right technology is affordable if you partner with the right IT company.
Your IT partner should have your business industry trends in mind, as well as your individual situation as a company. This helps them create a scalable, personalized plan for your technical infrastructure. Going forward, as your efficiency and productivity improve, your business will need to meet higher demand. If your initial investment into your infrastructure was too low, it is likely to be costly to attain the technology you do need to meet the rise in demand.
Some tips on how to plan ahead:
- Know What to Invest in: Get a proper consultation, with a company that cares about your business on a personal level. A good IT consulting company will do it for free.
- You could Lose Momentum: Your business is growing now, but if you fail to meet the demands and expectations of consumers or clients, they will go elsewhere. Remember, retention is key, but it’s harder than it sounds when the tech is constantly improving. Make sure to pay close attention to your competition!
- You could Get Scammed: You must do your research. From hidden fees to unclear contracts, there are many ways for companies to trick you into overpaying for managed IT services. Sometimes this run-around can make it hard for your company to switch IT providers in the future.
The Customer Always Comes First
- New Tech means New CX Ideas: Businesses today are focused on providing trendy ways to send marketing messages and provide innovative service. Follow business blogs, and consult with tech companies focused on growth and customized software.
- Good Customer Support is Paramount: Customers do a lot more research than ever before, and if a company takes too long to reply to their inquiry, they often move on to another prospect. Make sure your phone and internet connection is fast, and have a very little downtime. Avoid those pesky internet connection outages with fiber connections. For example, we layer the connection, so if there is an issue with one, the signal is rerouted through the parallel connection.
- Engagement Builds your Brand, Invest in it: Personalized apps and customized software can really improve the customer experience, as well as the employee experience. CRM is becoming a necessity, especially with a customer-centric focus being the new norm. Building relationships build trust, which improves your bottom line.
Data Breaches Make Trust More Important Than Ever
- Customers and Businesses are Focused on Privacy: Growth in technology is paired with growth in cybercrime. Data breaches can ruin your brand’s reputation overnight. The ever-changing scope of technology growth is best countered with a proper IT infrastructure, and a good team to maintain your security throughout all the changes.
- Bad News is Everywhere: The accessibility to news about businesses’ mistakes is as close as voice activation and asking for the local business news updates. Prevention is key when it comes to data breaches- make sure you are prudent about your network security. Customers are growing more careful every day, especially with the constant spew of news about major data breaches all around the world.
- Your IT Infrastructure can Make or Break Your Business: Contrary to popular belief, hackers actually target small business networks. This is probably because most small businesses do not have very good security networks in place. You may think a data breach is not a big deal, however not only do you do a nosedive on the trust scale with clients, but over 60% of small businesses will fail within 6 months of experiencing a data breach.
It’s a Race to Stay Current with Business Technology
Robots, AI, Machine-Learning, and automation of all kinds are transforming the workforce and completely altering the customer experience. In order to compete in the current marketplace, no matter what industry you’re in (Medical, Law, Finance- you name it), your tech needs to be up-to-date.
Aleksandra is a digital marketing professional, business development adviser, and writer. With a passion for learning both human and computer languages, she fluidly bridges the gap between business professionals and IT experts.
Partner with a Good IT Company: You teach us about your company- issues and all- and we provide IT solutions to improve it. That’s how your IT provider should be working with you to improve your bottom line. If they don’t make you feel safe and comfortable with their service, it’s probably a good idea to trust your instinct: make the switch. If you’re in the Toronto area, call us today at 416-363-9880 or email us at firstname.lastname@example.org to discover what IT should be.