How is Technology Used to Enhance Traditional Businesses?

There isn’t a business around that doesn’t utilise technology in some way. Whether it’s at the core of what they do or just a means to an end for customer satisfaction, technology is ingrained in our lives and in the makeup of businesses. But how has technology been used effectively to enhance businesses that would otherwise be more traditional?

Technology for Customer Service

Some businesses maintain their traditional approach but use flourishes of technology to enhance how their product or platform works or is accessed. For instance, harnessing technology for customer service functions means that this process is streamlined, and customers can be served in a more efficient way.

Technology can enhance the process of getting in touch with a business. For instance, personal injury solicitors McGinley Solicitors utilize live chat form technology to allow customers to get in touch if they have an issue. Seeking compensation for personal injury claims might be a sensitive issue, for example. Potential customers may want the chance to drop a message in a less formal way than a phone call while they come to terms with what happened to them or how they want to proceed. These claims may be extremely sensitive – such as injuries to the spine or brain, road traffic accidents that have left claimants shaken up, or even accidents in the workplace that could have greater repercussions.

Elsewhere, though still regarding customer service, stationery supply chain Staples have harnessed the power of IBM’s Watson to develop a chatbot that works to answer customer queries. They found that many queries were about the same things so adapted a chatbot to ensure these frequently asked questions could be handled swiftly via the chatbot. Not only does it save time for customer service agents, but it means that customers understand how the analogue company is benefitting from tech advancements.

Technology to Improve Audience Reach

Using technology to improve audience reach usually means enhancing digital platforms to allow for those who might not otherwise have engaged to get involved with the business.

Goldman Sachs, the global investment Goliath, also launched their own digital arm in 2016 – Marcus by Goldman Sachs. The set-up allowed its customers to take control of their investments via their smartphones and gave them a hands-on approach that took advantage of the latest tech. The company – known for being inaccessible and stuffy in some respects – was then able to leverage a younger audience and make using their services accessible.

Elsewhere, Inditex, the company, that owns fashion retailer Zara, also found a way to change their business model to improve audience reach. Notably, they did this by improving their online assets and ability for customers to engage online. Despite having 10,000 stores in 120 countries, the brand understood that there would be a benefit to moving online. Enhancing their online shopping capabilities matched with customer expectations and allowed the brand to reach a wider audience.   

Traditional businesses don’t have to change their core operation to benefit from what technology can do. They can use it for a small aspect of the business or can use it as a way to augment how their existing business runs. Regardless, technology is important in showing customers that a business expects to remain in the game for as long as possible.