5 Innovative Ways to Grow Your Business
Blogs on 5th August 2019
Written on 23/07/19 by MoneyNetint
Is your business looking at stagnant sales? Whether you are facing strong competition, a mature market, or simply lack the internal infrastructure to expand further, it may be time to get creative.
Innovative processes and tools allow you to do more without forcing you to restructure your existing workforce, while enhanced communications channels can open the door to up-selling higher-value packages to current customers. Innovations that reduce costs can improve profit margins, giving you great flexibility on competitive pricing.
Innovations that reduce costs can improve profit margins, giving you great flexibility on competitive pricing.
Look to the Cloud
Amazon Web Services (AWS) and other cloud providers help businesses eliminate infrastructure costs and allow management to run the company from the cloud. Once you’ve shifted your company from a physical location, your business has the ability to expand into new markets, reduce costs by having employees work from home, and bring on lower-cost offshore support.
AWS also provides you with the tools you need to enhance your mobile services. From apps to digital virtualisation, your business can start engaging customers through their mobile device, leading to more up-sale opportunities while reducing churn.
Turn to Artificial Intelligence
Artificial intelligence (AI) by IBM’s Watson was designed to help humans make better decisions at their jobs and can be easily customised to address today’s business requirements. Introducing Watson into your organisation will provide you with a clearer picture of the analytics behind your sales and help pave the way to a more effective and profitable sales process.
Watson can help you with your sales and marketing, supply-chain management, human resources, accounting and finance, business management, customer service, big data and top-level decision making. It combines natural language processing with a strong capacity to search and the ability to learn and process new concepts, to provide your business with time-sensitive, strategic information it needs to continue to grow.
Talking to Chatbots
Customer-facing chatbots are designed to reduce the pressure from your human team of employees by providing your customers with fast answers to their basic questions. Rather than having an employees spend their day answering customer queries about business hours, location, directions, or links to your website, a chatbot can easily handle basic questions, and recognise when a question requires human intervention.
Chatbots provide 24/7 support and can talk to as many people as necessary. They don’t get tired or bored answering the same routine questions repeatedly, and always treat customers the same way.
Automate Your Marketing
Marketing automation can save you time and help you maintain a nurturing relationship with your marketing leads. With a tool like Hubspot, you can increase your marketing team’s capabilities by automating repetitive tasks, such as email marketing, posting on social media, or managing your ad campaigns without onboarding additional employees.
Marketing automation tools track your relationships with customers, allowing you to see which customers are progressing through your marketing funnel. The system sends them relevant marketing assets, such as ebooks, blog posts, and white papers, and can assign them a score based on whether they open emails, download marketing content, and engage with your posts.
Marketing automation can save you time and help you maintain a nurturing relationship with your marketing leads.
A successful marketing automation deployment allows your team to spend more time developing the content they need to engage customers, and less time dealing with sending out and tracking emails.
Global Payment Solutions
The right financial tools, like those offered by MoneyNetint, can pave the way to new markets when your existing market is overcrowded or mature. Effective global payment solutions can be adopted quickly and have you up and running across borders and continents in just days.
Modern day financial solutions make dealing with multi-currency accounts and cross-border payments seamless, as they allow you to make and accept international payments without the hassle and delays inherent in banks or other traditional financial institutions.
Localised e-wallets, which are used to manage multiple currencies and accounts, create a virtual local presence in your new market. That means your payments are considered domestic payments, and your accounts are insulated from costly international SWIFT transfers.
E-wallets also make it easy to transfer money across borders, and exchange multiple currencies without high fees.
MoneyNetint uses the Ripple network for many of its financial activities. The blockchain technology offers fast, near real-time transactions, a significant upgrade from traditional banks that require waiting periods on money transfers that can last up to a week. Moreover, being part of the Ripple network allows the company to utilise and connect with other members of this global network.
To make it even easier to grow your business, MoneyNetint’s API allows users to integrate directly with MoneyNetint’s payment platform, connecting your system with various high-tech financial tools. The API unlocks additional capabilities, bringing bottom-line cost reductions and faster service times.
Changing the way you’ve always done things can be intimidating. Adding new technology tools and high-tech financial instruments can be especially daunting. However, the alternative where you fight to simply maintain your market share or over-extend your employees is equally unsettling. For your business to truly reach the heights you envisioned for it, you need to embrace innovative technologies and methodologies, as you extend your business’ reach into new areas.
Discover how MoneyNetint can provide the financial tools you need to start your South American division. Contact us today.