In 2017, the telecommunication industry was worth approximately $1.4 trillion. This value is set to increase even more, as more businesses continue to incorporate telecommunication in their structures.
However, this doesn’t come as a surprise. Advancements in telecommunication technologies have made the world a much better place for everyone.
For instance, a few decades ago, it took weeks or even months for a simple message to be relayed to someone in another town. The onset of telegraph telecommunicating reduced these weeks to days. Fast forward to today’s world; it now takes less than a second to communicate with someone who’s in another corner of the world.
Telecommunicating has become such a normal part of everyday life that people might not realize they are doing it. Here are nine examples of telecommunication in business today.
What Does Telecommunication Encompass?
When people hear the word telecommunication, they immediately think of traditional voice calls. However, there’s more to the word than just voice calls. Telecommunication encompasses the exchange of information on a global scale through electronic channels.
In the past, entry into the telecommunication market was highly limited. Back then, it was a monopolized arena made up mostly by government institutions.
Today, things are much better as the market is made up of large companies that offer the infrastructure, while smaller ones provide the necessary equipment for implementation. Feel confident to shop here for telecommunications equipment.
Here are some examples of telecommunication in business today.
About three decades ago, business meetings with employees, partners, and potential investors meant hours of travel. They also meant alerting every involved individual of the meeting days or even weeks in advance so they could prepare. Since the onset of teleconferencing, it has become way much easier for important business meetings to be held.
It’s now possible to hold any business meeting on short notice. Teleconferencing hasn’t only made things convenient but also helps businesses save as they no longer have to pay for costly venues to meet up with investors.
This marvel of business telecommunication also makes record keeping a walk in the park as all meetings held through a teleconference are recorded for future reference. Now, businesses can hold meetings with their partners who are across the world without the need to meet physically. This encourages productivity as important information is shared effortlessly, facilitating growth.
The intranet is yet another popular method that businesses use in telecommunicating. Its skyrocketing popularity is no surprise as it has helped improve communication in business. In the past, it was quite difficult for employees of different hierarchies to communicate. This often affected a company’s productivity and slowed down growth.
Thanks to intranet, each employee remains well-informed about a firm’s objectives, current and upcoming projects, promotions, and events that are set to take place within the organization. As a result, they in-turn play their part to ensure the success of such activities, hence promoting business growth. Intranet also promotes fast decision making, as employees are often informed of anything that’s going on at the touch of a button.
3. Telecommunication Through Websites
If you’re using a website in your business, then you’re telecommunicating! You may not realize it as websites among companies are so prevalent in today’s world. Nevertheless, their efficiency can’t be underestimated.
They’ve enhanced customer experienced as clients can now access the products and services offered by a particular entity from wherever they might be. The business itself also benefits as it gets easy access to new customers, get a competitive edge while at the same time cutting on printing and distribution costs.
4. Instant Messaging
Even with the onset of other business telecommunication tools, instant messaging is not yet dead. It remains an integral way of telecommunicating among businesses. This is because 78% of current and potential clients prefer having a text conversation with a company instead of calls or emails.
It’s also much easier for a business to reach clients through text than via other models of communication, as the average American checks their phone 150 times a day.
5. Analytical Marketing
Gone are the days when businesses could use a single marketing strategy to reach all customers. Nowadays, clients want to work with a company they feel have a good understanding of their needs.
As a way to meet this expectation, more companies are now incorporating analytical marketing in their structure. This telecommunication tool enables them to anticipate customer and market behavior. It, therefore, puts them one step ahead as they can offer what precisely the client needs and at the right time, thereby ensuring customer satisfaction.
6. Marketing Through Mainstream Media
Marketing and advertising through leading stream media platforms such as TV and radio are also ways that businesses are telecommunicating every day. Even as the internet takes over the world of marketing, these media platforms remain a necessary tool for businesses. Even though they don’t target a specific audience, they help companies to reach potential clients and partners easily.
7. Social Media Marketing
We live in an age where people spend the majority of their time online. The total time spent by people on social media beats time spent by the same people eating, socializing, or indulging in other vital activities. Therefore, it’s no surprise that more businesses are taking to social media to market themselves. In doing so, they are telecommunicating, as social media is part of the internet which is an essential component of telecommunication.
8. Artificial Intelligence
The use of artificial intelligence among businesses has been on the rise off-late as more entrepreneurs realize the vast benefits that these technologies hold. For instance, through bots, companies can now address the concerns of their customers and easily give primary details about themselves. This enables them to cut down payroll costs as they only need a few employees for their customer care desk.
9. Voice Calls
Even though they aren’t the lifeline of telecommunications anymore, voice calls remain instrumental in the running of any business. Complex problems in a business are easier resolved over phone calls. It’s much easier for employees to explain and sort out a problem through a phone call.
It’s even easier for customers to schedule an appointment and make inquiries through a single voice call instead of doing so in long email threads. Also, while a website is essential, having a contact number that customers can use to talk to you directly gives you a competitive edge.
Explore Your Telecommunicating Options
Telecommunicating is no longer a tool but the lifeline of every business regardless of size. Therefore, it’s vital to ensure that you’re well updated about the latest equipment and channels of telecommunication available.
Check us out for more information about this important aspect of business today and unlock a world of opportunities for your company.