To keep on top of your competition, you have to take advantage of key strategies that can give your company a boost. Existing ventures are constantly challenged by new developments. Maintaining the status quo or implementing needed changes very slowly is no longer possible in our fast-paced, hectic world. Being able to change and adapt quickly is a strategic advantage for a lean, entrepreneurial firm.
Unlike the big corporations, your venture can chart a new course very quickly. The pace of change when following business growth trends is especially pronounced when it comes to new developments in technology. New software and services are constantly being introduced, and many of these new products can have a significant effect on your firm’s bottom line. Major new developments in the tech field can, when seen with visionary eyes, help you re-engineer your market niche and dominate your competition. Other solutions can dramatically trim costs or raise your revenues to levels not seen before.
Business Intelligence Systems
Most companies implement operational systems that help them handle the workload in order processing, manufacturing, and accounting. This is great because it helps get all of the key business transactions processed each day. Beyond these foundational software modules, though, there’s another class of software that lets you quickly analyze data and make key strategic decisions.
A perfect case study that illustrates the power of business intelligence systems comes from a winery in California’s central valley. They were able to build a data warehouse of all key information and then rapidly query the data using the business intelligence system. With a single query, they discovered strategic insights that helped them reshape their marketing and fulfillment strategy and make an additional $1 million in profit. One query equated to $1 million being added to the company’s bottom line. Worth it, don’t you think?
Fleet Management and Monitoring
If your business has to manage significant car, van, and truck assets, you’re an ideal candidate for fleet management systems and software. With these tools, your business will be able to leverage GPS tracking to have real-time visibility and control of all of your mobile assets. You’ll be able to optimize routes, quickly respond to customer needs, and review detailed historic data too.
Positive control over your fleet assets is of paramount importance if you are operating refrigerated trucks. A reefer monitoring system can help assure you meet all applicable compliance standards. These systems offer the control that is cost-effective and monitoring that will help customers know their shipments are quality-assured and safe.
Advanced Email Marketing Software
Email marketing software and technologies continue to be invaluable promotional tools. With a high-end solution, you can craft great campaigns that nurture customers along the buying journey. When you interact with a prospect you can build a relationship with them and give them the information and incentives, they need to move from initial contact to the interested party to the buyer.
Best of all, when you take the time to build a powerful email marketing list you are investing in your own company. Unlike social media campaigns, which you often have to pay to get even mediocre reach, you can talk to and nurture your email audience regularly. You own the list and access to your customers can’t be cut off as it can be on social media platforms.