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The Importance of Digital Literacy in Business

Guest Post | May 28, 2021

Digital literacy - The Importance of Digital Literacy in Business

Digital literacy is an umbrella term that defines a large number of different skills that a modern entrepreneur should have. Since computers get deeply integrated into our lives, all people have to know how to use them. Being familiar with computers doesn't mean creating documents and printing them with no hassle or surfing the Internet, looking for certain information. You need to know how to use different software, utilize portable devices, and configure them according to your needs. Since computers and modern software tools can optimize a lot of processes and attract more clients, all business owners have to be familiar with the latest technology.

Business Management

There is a lot of software and hardware that helps automate business processes and make it easy to monitor using a computer. It helps increase efficiency and lower operating costs that positively affect any company. Indeed, computers can't replace real people in most cases. However, they can help them increase productivity and achieve better results, applying fewer efforts.

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Using the latest technology, entrepreneurs can keep a finger on the pulse of their companies 24/7 from any location. Offline business owners can track all the sales and check out cameras in stores using a smartphone in their hands. Those who have an online company can track all the activity of their workers by using employee monitoring software. Digital literacy can help stay up to date with the most recent products for company management.

New Customers and Increased Sales

Digital literacy is an essential skill if you want to attract new customers and make them spend more. All businesses can become more visible for potential clients using modern tools. For instance, by adding your company on Google Maps, you can get a lot of clients from the Internet. The map helps people find the nearest companies in their area and builds routes to them. For instance, most people who need shoe repair service check out the nearest business for the first time.

Being familiar with Google Trends, you can find the most searched items in your area and update your business according to the latest trends. The keywords research tools can find items that people are interested in the most to satisfy the needs of potential customers. Online services can also help you set up target ads and promote your products to your targeted audience.

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There are a lot of Customer Relationship Management (CRM) systems that help gather all the information about clients in one place and process it efficiently. Also, they help interact with customers. When entrepreneurs don't have enough time or resources to interact with all the clients, they set up chatbots that help clients find answers to particular questions without reaching a manager.

Fast-Paced Learning

Thanks to the Internet and modern technology, business owners can obtain new skills rapidly. They don't need to spend a lot of time in a library, get a degree, or hire an instructor to learn something new. They can use a device in their pockets to read guides and enroll in video courses. Having a high level of digital literacy, entrepreneurs can easily discover how to improve their business for free. Also, they can connect with experts in different niches all around the globe. Even though new skills can be obtained extremely fast, they can have personalized studying schedules. Using the Internet, skilled users can find an answer to any question or a specialist who can help with a particular issue.

Long-Term Requirement for Businesses

Since computers and online services help acquire new clients, manage businesses efficiently, and increase sales, digital literacy is an essential need for entrepreneurs who want their businesses up and running for a long time. Otherwise, competitors will attract all the clients. The technologies are constantly evolving. The progress won't stop at a particular point. Consequently, when entrepreneurs refuse the need to increase their digital literacy and learn new skills, they increase the gap between their companies and the forward-looking businesses of their competitors.

Moreover, customers also improve their digital literacy. For instance, students always read the Unemployed Professors review not to lose all their money, paying for a poor-quality service. When businesses don't interact with clients online and don't answer their complaints, they risk losing loyal clients and lower the number of new orders. Being an entrepreneur, you have to communicate with your clients via different platforms constantly. Since most of them are online, it's impossible to run a successful business having poor digital literacy.

Digital literacy is crucial for all entrepreneurs who want their businesses to grow. The progress brings a lot of new technologies that are used for organizing processes and attracting new clients. There is no option to stay aside from the race unless there are no competitors in your niche. However, if they use the benefits provided by modern technologies properly, they can increase profits significantly.


NCFA Jan 2018 resize - The Importance of Digital Literacy in Business The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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