Through the use of technology and electronic media, small business owners can reduce business expenses.
Running a small business is expensive. Luckily, business owners can reduce business expenses by utilizing technology and electronic media to communicate directly with customers. With electronic media, companies can respond to customers more quickly than through traditional mail which can enhance customer satisfaction while lowering business costs.
5 Ways Electronic Media Helps Reduce Business Expenses
- Reduce printing costs. By using electronic media, businesses can dramatically reduce printing costs. Instead of mailing printed materials to customers. Post the information on a web site for easy download or send the file as an attachment in an e-mail. Consider converting printed materials into Flash animations or videos to provide information in a user-friendly format for customers to watch and learn.When materials need to be printed, use a print-on-demand service where customers can order printed material directly from the printer when they need it. Print-on-demand services are available from a variety of printers using digital technology and by allowing customers to only print what they need, businesses can greatly reduce printing costs.
- Host webinars and teleconferences. Another way businesses can dramatically reduce business expenses is to utilize technology to cut travel costs. Instead of traveling to customer locations each month, visit customers quarterly instead. To lower business costs while staying in touch with customers, schedule monthly teleconferences with customers utilizing services like Skype or Go to Meeting.
- Establish a blog. Another way to reduce business expenses is to implement a company blog to help minimize phone calls with questions from customers. Setting up a blog is free on many popular blogging sites such as Blogger or WordPress. Design the blog to serve as a customer communication vehicle with a FAQ section and other information customers frequently call about. The blog should be customer-focused and invite customers to participate in the conversations. Encourage employees to read the blog daily, so all employees are in tune with the concerns and issues brought up by customers and ways the company is addressing them.
- Use e-mail instead of traditional mail to lower business costs. Help reduce business expenses by cutting down postage costs. Encourage employees to use e-mail to communicate and send information to customers whenever possible. Instead of mailing customer invoices, include the invoice with product shipments or e-mail invoices to customers. Instead of mailing press releases to trade publications, e-mail the press releases to editors. Create an e-newsletter instead of a traditional paper newsletter. Instead of a mailing an image CD to customers, send images by e-mail to customers. Encourage employees to ask themselves before mailing anything “Can this information be sent electronically?” If their answer is yes, then the information should be sent by e-mail instead of traditional mail.
- Utilize free business software. From office suites to PDF maker programs, there are numerous free business software programs available for download and use. Reduce business expenses by encouraging the IT department to shop around and check for the lowest cost option when shopping for business software.
Expenses Businesses Should Not Cut to Lower Business Costs
To remain competitive in the marketplace, businesses should not cut costs on marketing efforts and employee training as these can actually hurt a business in the long run. And although cutting employee compensation can be tempting, it may be a risky move as well. Instead, save costs by reducing the hours worked by employees or offering a furlough to employees.
Technology and electronic media when utilized creatively can help lower business costs. Tools like e-mail, web conferencing and blogs can actually enhance communications with customers and reduce business expenses. That's what helped our homework website reduce costs and I hope these will be of help to you as well.