Improved platforms means with the same amount of effort from businesses, more functionality or value can be delivered to customers. This means that the more ways businesses incorporate tech, the more a company stands to prosper.
The primary method businesses can capitalize on the tech boom and surging mobile market is to use platforms such as Twitter, Facebook, and other social media tools to promote their products or services. Beyond that companies can also build their own website or develop an app to augment their business.
Apps providing functionality to mobile devices can be used to attract additional customers, bringing them into a company's digital store where they presented with many options for spending money.
Seven years after the debut of the Apple iPhone, the mobile market has become the main focus of tech companies, and for good reason. While consumers are notoriously stingy when it comes to paying for apps, there are plenty of ways for businesses to make money from offering free apps.
There has been growing evidence demonstrating the benefits of "Freemium" apps1App Annie- Free apps outpacing premium apps, along with in-app purchases, microtransactions, and ads; there are plenty of methods for a company to utilize for making money by developing free apps.
Businesses have been hesitant to follow Google's lead of offering quality products without charging users directly. It takes market savvy to look ahead for long term growth rather than the current bottom line. Larger companies are slower to adapt, putting the advantage in the corner of small businesses.
So how can a small business capitalize on tech?
Firstly by taking advantage of the many free services offered by forward-thinking tech companies such as Google and Amazon who offer many quality services for no initial costs. Along with Github, AWS, and Box along with many other available services, a small business would have all of the tools to begin development on a web or mobile application for very little startup costs.
Apps and web pages can offer simple functionality, with a specific experience related to the business. Instead of viewing an app as a source of profit, it can seen as an improved, direct access to potential customers. Targeting the market through an app store is a more direct approach than typical ads, by brining the user into an interactive experience you're also captivating their attention. This method is almost completely superior in conveying a company's merits and building a relationship with customers.
Traditionally businesses are reluctant to offer anything for free. But anybody studying Google's soaring success can see why it's a mutually beneficial model to adopt. By learning from the success of companies such as Google and Twitter, businesses can tap into the expanding tech market and use tech strengths to that business's advantages.