Alfred'S Small Business

Throughout the previous few posts we have informed you of the reasons behind technology in business. We have come to the conclusion that technology is needed in business as a business without technology would greatly suffer as they would not only be behind modern society but they would also give up the opportunity to gain more customers over technology such as social media, resulting in a lower profit than what a business who uses technology would have.

The last technology in which we will be discussing is social media technology. We want to inform you of this type of technology as social media is a really big part of today's society and we want you to know how and why businesses use it.
Social Media is a really important form of advertisement as businesses are able to reach out to a targeted market by using key words searches. Targeted key word searches are efficient and are more relevant than TV, print or radio as with th...ese sources you have to take a chance and hope that your preferred audience sees you advertisement. Whereas by using key word searches, businesses will know that they are reaching out to their targeted audiences as if someone types in one of their key words, they know that they are interested in the subject. This is important as it not only means that the business will save money, but it also means that it potentially draws in more customers, therefore creating a greater profit. A business that uses social media for advertisement is Country Solar NT. They explained how it is important for businesses to use social media as it is not only relevant to the targeted audience but it also relevant to modern society, making the business able to compete with other modern businesses like their own. They also explained how they use social media to inform their customers of specials or events coming up, and therefore improving on their customer relations, which is important as a business drives to keep their customers satisfied, as they are the lifeblood of the businesses profit. Therefore, stating why and how businesses such us our own use social media technology. If a business does not use social media technology they face the issue of not being able to efficiently reach their target audience, and also losing money paying for expensive advertisement on TV.
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http://www.mybusiness.com.au/…/manage-y our-business-from-fa…
We have been looking at how mobile technology helps our business and we wanted to let you, our customers, know why we use it and how it benefits us.
Mobile technology is "a device, such as a PDA or smart phone, that can store, access, create, allow to modify, organize, or otherwise manipulate data in various forms from a location without being required to be tethered to any particular spot." (Regas, 2002) Mobile tec...hnology is useful to a business as it a technology that is portable therefore being easy to transport, greatly improving the communication between a business and their clients or providers. It also has the capability to provide a business owner with something known as a 'pocket office'. A pocket office allows a business to access their resources without needing to have a stationary computer and therefore allows a business owner to manage their business from afar. The business is also able to be more organised as there is a lot less paper and more computerized documents that can be easily transferred to customers and to other companies, making processes more efficient. This type of technology is used by businesses as it is an efficient way to manage their resources which makes it easier for a business to reach their goals, therefore increasing profit. Without mobile technology a business would not only be behind on the business world of today but their organisation and management would not be as productive, potentially creating a loss in clients and therefore in profit. The business owner would also not be able to access their business from afar, meaning that if there is a problem that could potentially mean losing profit, the business owner could not do anything about it until they got back.
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http://www.merchantlink.com.au/every-smal l-business-consid…/
We at Alfred's small business are considering buying an EFTPOS machine, before making the final decision, however, we want to weigh the pros and cons for both our business and our customers. But what is EFTPOS you might ask? EFTPOS is the 'electronic transfer of money, direct from the payee's banking institution, into your [the businesses] bank account." EFTPOS stands for Electronic Funds Transfer at Point of Sale a...nd has many varied benefits. One of these being that it is simple, easy and convenient for the customer. This creates a stronger customer relation with the business as the customer is pleased with the quick and useful service and they will therefore be more likely to use that business’s services again, creating a sale growth for the business, resulting in a greater profit. This convenience for the customers can also increase advertisement as the customers could spread the word of the new technology to their family and friends which could potentially bring in more customer, again creating a greater sales revenue and profit for the business. Another benefit of having an EFTPOS machine is that it could increase the amount in which the customer buys as they have more money to spend then if they had cash, as it is too dangerous to carry around $1000 in cash. EFTPOS machines are also convenient for the business as money in large amounts in today's society is a lot easier and quicker to manage when it is not in cash form. Therefore meaning, that a business with an EFTPOS machine’s employee costs may not be quite as high as a business who still only accepts cash and they have employees that work extra hours to count it all. Therefore a business without this type of technology may not have as great a customer relation as what a business that without it might, which is why we have decided to get an EFTPOS machine for our business.
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