Out of all the advantages afforded by evolving technology, the creation of new communication methods remains one of the most significant. This is also among the most controversial; as there are some who consider remote methods of communication and interaction as being representative of everything that is wrong in the world. This is a largely short sighted viewpoint, however, especially when you consider the way in which technological innovation and advanced methods of communication have helped to revolutionize the business world.
3 Examples of How Communication Trends have Benefited Businesses and Independent Traders
So where have improved communication methods had the most noticeable impact in the world of business and industry? Consider the following: –
* Trading on the Stock Exchange: The world of financial market trading has changed dramatically since the 1980’s, and this is largely thanks to the development of electronic communication networks (ECN’s). An ECN is an automated system that has eliminated the restrictions posed by international time difference and trading hours, while it also has the capacity to act as an order matching machine that helps to coordinate trades and effect real time transactions. An increasing volume of trade is now being conducted through ECN’s, as investors look to capitalize on improved communication and interaction within the financial markets. The development of online platforms and mobile trading applications such as the MetaTrader 5 has helped to evolve this trend and empower real-time financial market interaction.
* Outsourcing Work and Creating a Flexible Workforce: Outsourcing is a business practice that has evolved considerably in recent times, thanks largely to the enhancement of remote communication techniques and development of cloud based software. Once prevalent among IT professionals only, outsourcing is now used by businesses to complete a number of non-strategic tasks including administration, sales, marketing and human resources. With Internet connectivity now more reliable than ever before, and employers able to communicate and share documents with employees through a single web based interface, it is now possible for firms to save significant sums of money by creating a global, flexible and project based workforce.
* Social Media Marketing: While email marketing was once considered as the embodiment of evolved technology, it is now an increasingly redundant business practice. This is thanks to the advent of social media, which has played a pivotal role in revolutionizing the way in which people interact and communicate with each other on a daily basis. Social media marketing has subsequently emerged as the prevailing method for promoting a brand or specific product, especially among firms who are targeting a younger social demographic. With sites such as Facebook also emerging as a key resource for the referral of companies and products within individual social networks, this is a practice that is likely to become increasingly popular in the coming years.
Communication as a Malleable Business Tool:
These changes are just three of many that have occurred within the worlds of business and industry in the last few decades, as remote communication methods have grown increasingly sophisticated and reliable. With an increasing emphasis on mobile communication and the development of m-commerce as a viable trading platform, the way in which businesses promote their brand and interact with consumers is set to change still further in the years ahead.
