There has been a race by firms over the past four decades to remain in the lead of competitors to embrace an ever-growing variety of technologies. It started off with the mass adoption of personal computers at the early part of the 1980s and continues to thrive nowadays with the use of Slack for collaboration and Zoom for video conferences. The secret to success has always been to accept technology at the right moment for the greatest possible impact.
But in order to achieve that, company executives need to stay abreast of developments in the technology sector in order to predict what the next big thing may be. And that’s no easy feat. After all, the tech sector has a reputation for occasionally peddling dubious products. Fortunately, there are a few instances where it’s evident that a specific kind of business technology will soon become indispensable. These are the three business technology investments that companies should make significant wagers on in 2024 to help them stay ahead of the curve.
Technology for Employee Monitoring
Employee monitoring technology is quickly becoming a need for contemporary firms, despite the fact that it is a sensitive topic, especially for employees. It’s easy to understand why. Productivity and innovation are key components of business success, and there are many outside factors that might divert workers’ focus.
An employee control software such as Controlio can be useful in this situation. They offer businesses a level of insight into employee behavior that has never before been possible. Managers have the ability to monitor how employees utilize their time and find methods to streamline processes, from basic time-on-task tracking to web usage monitoring. Businesses can maximize their labor costs and raise overall productivity in this way.
Software for Social Selling
For better or worse, social media has become indispensable to modern firms’ marketing and sales strategies. But social media selling isn’t easy. A significant amount of focus and work is needed to maximize social sales because there are numerous platforms to cover, each with distinct audiences and preferences.
However, technology can assist any kind of business, including brick-and-mortar stores and eCommerce and other eBusinesses, maximizing the potential of social selling. Everything from audience targeting to post management and anything in between can be aided by the available tools. Additionally, companies have the choice to adopt technologies in a piecemeal fashion, assembling their own tools of the finest that the industry has to offer.
Tools for Digital Advertising
Modern firms use more than just social selling to reach online consumers. They also achieve this by heavily investing in digital advertising throughout a large portion of the internet. However, in recent years, marketing professionals have begun to tell companies, especially small ones, that internet advertising isn’t worth the money.
However, the reality that many of the companies suffering from subpar digital advertising results aren’t utilizing the newest techniques available for digital advertising is something those experts neglect to mention. The current state of internet advertising is, in fact, competitive, expensive, and crowded. Additionally, AI-powered algorithms used by advertising networks tend to favor companies with the highest spending volumes.
Nonetheless, companies can and ought to equip themselves with the newest digital advertising technologies to cut through the clutter. By utilizing technologies like AI-powered programmatic advertising, software to automate tasks like monitoring Facebook ad comments, and utilities to optimize their sales funnels for each ad click, they can increase their chances of achieving a good return on investment from digital advertising. Those that do will profit from digital advertising and stay ahead of the competition when they leave the market.
Conclusion
Any entity that wants to remain ahead of the competition in technology cannot afford to lag behind. But to surpass their competitors, businesses need to fine-tune their technology investments on those which have the highest prospects of yielding financial returns. And the three categories of technology covered here are prime illustrations of that.