How Technology Could Help Your Business Save Money

Technology has come a long way in the last twenty year so it is understandable that as a business owner some of the best devices and software may have passed you by. However, some of these items could help your business begin to save money! From smart thermostats to digital advertising, there are ways that technology can help save you money.

Smart thermostats

Smart thermostats are the first piece of technology that can help you save money in your business. Smart thermostats work just like a normal thermostat would by connecting to your boiler via the same connection as your previous thermostat. They then connect to the internet via a Wi-Fi connection. A smart thermostat can work with each three boiler types, combi, system and conventional. However, not all smart thermostats are compatible with all boiler models. So, make sure you do your research before purchasing.

A smart thermostat allows you to have a lot more control over your heating via the companion app that is available to both your mobile and desktop. This is due to their ability to connect to the internet. Through this app you can control both the current temp of your heating and set schedules throughout the day, meaning that you will never have to worry if the last person out of the office turned the heating off. It also shows you when your heating is running most and how much energy is being used. Allowing you to see when you may need to turn the heating off to save some money.

Digital Advertising

While you may still be using the traditional route of advertising via newspapers and fliers you should be switching your main focus to digital advertising. There are a few reasons that you will want to switch to digital advertising.

Different Channels –

Advertising online allows you to target multiple channels across the internet. This means that you will be able to target a larger audience as you may not only be advertising on Google itself but can also target Instagram and Facebook as well.

Target Audience –

Advertising online allows you to be more specific with targeting your ads. So, your ads will only show to people who are searching for something related to your product or service. You are reaching more potential customers than in a newspaper ad. This means that with more potential customers being reached you are not wasting money advertising to people that may not be interested in your products or services.

Budget control –

The best feature of digital ads when it comes to saving money is the budgeting options that are available to you. Most channels that offer advertising allow you to set a specific budget for how much you want to spend each day on your advertising. Meaning that you can budget for a whole month and you will never be spending over the amount that you want.

Data –

Finally, data. The amount of data that can be given to you from using platforms like Google Ads and Facebook Ads is key to developing your ads. This data that you get is valuable to see what kind of people are interested in your product, meaning that you can target future ads specifically at your ideal customer.

However, do not abandon all other marketing channels as a business needs/wants multiple marketing channels to be successful.

Allows Remote Work

Technology can allow your employees to work remotely. The main advantage to this is that you may be able to have some employees working from home all the time. Meaning that you could downsize your office and be able to save some money on not needing to maintain a large office space.

As well as having a smaller office space it can also mean that if your workers cannot make it into work, they are still able to work from home. Meaning that you will not be missing out on your employees having that customer interaction. That without could mean you losing out on money.

Reduces Amount of Paper Used

With the addition of technology there is less needed to have paper copies of documents in your office. This is due to aps such as Google Drive or Microsoft OneDrive becoming more popular and easier to use to share files, rather than using paper copies in the office. While it is impossible to go totally paperless, as you may still need to print documents for meetings etc, the addition of file sharing programs makes it a lot easier to see a reduction in paper usage.

This reduction in using paper not only means that you will be saving money on ordering paper for your office but also means that you are improving how green your business is by using less paper.

Allows Faster Communication

Communication is key when it comes to business, whether it be internal or with customers. Modern technology allows you to communicate much faster with both customers and internally with colleagues. Making sure that you have technology that allows this communication can be key to making sure that your company is not missing out on money!

Those are just 5 ways that modern technology can help a business to not only save money but potentially not miss out on losing any to wasted time or poor communication. There are many other ways that technology can help a business, and some may only be relevant to your specific niche, so make sure you keep looking!