Did you know that technology is a competitive weapon?
In today’s increasingly tech-centric business landscape, digital prowess is a key brand differentiator at the market level. Even for brick-and-mortar businesses with non-tech offerings, marketing battles can still take place in the digital arena.
In Microsoft’s State of Tech Intensity Study, 75% of respondents said they believed that embracing tech was the most effective way to build competitive advantage today and in the future.
How Tech Makes Your Business More Competitive
IT is no longer an option in the fiercely competitive business environment. Your digital footprint can make all the difference between success and failure.
Let’s discuss how IT enhances the way you compete.
Boosting Productivity and Cutting Costs
Business tech is all about speed, efficiency, and accuracy. Take AI, for example; intelligent tools can easily automate complex tasks that would otherwise be too cumbersome and time-consuming for employees. Thanks to AI, processes that would normally take days can be dealt with in minutes. That way, you get more out of the business while saving valuable time and resources.
But how does cutting costs and boosting productivity make you more competitive? Well, you lower operational costs, which means you can design and price your offerings more competitively.
Enhancing The Customer Experience
Personalization is the key to meaningful customer engagement. Eighty-one percent of customers prefer companies that offer a personalized experience. Clearly, building a personalized customer experience wins you favour in consumer markets. But you can’t do that without tech.
Leveraging digital solutions, such as customer relationship managers, is crucial for understanding your customers’ individual needs and preferences. From there, you can tune your customer-facing channels to engage clients on a personal level. We’re talking personalized marketing emails, browsing experience, and even support.
Making Informed Business Decisions
Information is the most valuable asset in any business. Enterprises generate a copious amount of data from customer touchpoints, supply chains, market trends, sales figures, etc. Such data, if harnessed properly, can inform critical business decisions.
Leveraging data means drawing meaningful insights, ideally using digital analytical methods. Modern analytics tools can instantly perform detailed and accurate market, customer, supply chain, production, staff, and competitor analysis. You can then use the results to make competitive choices.
You can’t go wrong with data analytics. In a recent survey, 64% of respondents ranked big data and analytics as the top tech initiatives, giving their company a competitive edge in 2023.
Seizing New Opportunities
Tech empowers your business to quickly seize emerging opportunities. It does so by enhancing your business agility, making your business model and operations more flexible. That way, you’re able to seamlessly adapt to new changes.
Business agility sharpens your competitive edge by increasing your speed-to-market. It also makes your enterprise more resilient in the face of unexpected challenges.
It’s More Than Just a Competitive IT Infrastructure
IT systems by themselves won’t make your business any more competitive unless you can effectively leverage their power. If you’re going to use tech in your competitive or market strategy, the digital infrastructure, processes, and workflows must be in tip-top shape. You must have all the right mechanisms running smoothly, efficiently, and reliably.
Let Highway 99 turn your IT into a competitive advantage. Our managed IT team will work with you to ensure that your tech investment puts you ahead of the competition. We help businesses get the most out of IT and drive growth through digital innovations.
Get in touch to learn more.
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