Using Technology to Increase Revenue


The economy is starting to show signs of recovery  after it declined when the pandemic started. And with this, many businesses are starting to increase revenues amid the challenges posed by the situation. Many businesses that continued to operate during the pandemic had to leverage technology to connect with their customers.

With consumers going online, businesses had to increase their online presence to reach their market. But setting up a website is not the only thing that businesses should do. They should also use other technologies to increase their revenues. Here are the ways that businesses can increase revenues using technology.

Enhance Relationships with Customers

Businesses should invest in a customer relationship management (CRM) system to help them build a relationship with their clients. The CRM system facilitates the storage and organization of customer information to allow businesses to access it later. Businesses can use the information to make informed decisions to increase their chances of connecting with their market.

The system also allows businesses to organize their sales team to find opportunities to increase their customer base. It also gives the team an idea of how they can connect with new customers based on the buying behavior of existing customers.

Additionally, a CRM system helps the business modify its processes using the information it collects. The modified processes should focus on developing a close relationship with their customers and increasing the chances of turning them into loyal customers.

Connect with Mobile Users

With around 85 percent of US adults using a smartphone, it’s safe to say that many of them use their devices to surf the internet. They will also use their smartphones to purchase products online. With this in mind, businesses should make sure they have a responsive website to allow mobile users to view its contents properly.

Businesses should also develop mobile applications to facilitate the purchase of their products by mobile users. Apps are ideal for them since they do not need to open a browser to view the business’s online store. It should also provide suitable protection to keep the customer’s information confidential.

Aside from retail businesses, other businesses should also use mobile apps to connect with their market. Real estate professionals can use apps to sell properties in the market. The apps allow them to connect property owners with people looking for homes in the market. Some properties available on the apps are not even available on the online marketplace, which allows home buyers to get a better deal for their purchase.

Optimize the Points of Sale

Optimizing the points of sale allows businesses to increase the number of sales they can make during the pandemic. They should make sure their websites are user-friendly and can protect the confidential information of their customers.

Businesses should also develop mobile apps that allow customers to buy their products. Aside from facilitating purchases, mobile apps also allow businesses to collect information that they can use to connect with new customers in the market. They can also use social media platforms to connect with their customers and offer their products and services. These platforms can also drive traffic to their websites.

If businesses have physical locations, they can enable self-checkout systems to allow customers to breeze through the purchasing process. The systems also reduce interaction with the business staff, which is ideal during the pandemic. But they should make sure to protect their customers’ personal information to entice them to purchase from their stores.

Facilitate Customer Payments

Businesses should also ensure the proper processing of customer payments. They should offer digital payment options to make the process convenient for their customers. It also facilitates checkouts and reduces abandoned carts when customers shop online. Businesses have several options for digital payment systems that they can use for their stores.

Aside from online purchases, digital payment options also allow customers to pay without using cash. This enhances the checkout experience of their customers. No-contact payment options also reduce the risk of getting infected by the virus.

Engage Customers on Social Media Platforms

To increase the traffic to their websites, businesses should use social media platforms to engage their customers. Engaging the customers can help convert potential customers into paying customers when they visit businesses’ social media pages.

But engagement only starts when potential customers visit businesses’ social media pages. So, it’s also important for the business to use social media ads to increase its chances of connecting with its target audience.

Developments in technology can help businesses connect with potential customers and increase their revenues in the middle of a pandemic.