As an entrepreneur, it’s natural to have a lot on your plate. Ultimately, you’re going to have to wear many “hats” in order to grow your business. But, in today’s ever-changing tech world, it’s more important to understand some common technology terms that can boost your business.
Knowing as much as possible about the tech industry for business will give you an upper hand, no matter which industry you’re in. Tech can help with marketing, growth, UX, and even financing.
With that in mind, let’s look at a few important tech terms you should become familiar with as you start a new business.
1. Server Hosting
Every business needs a server host. This refers to a device that will support the Internet your business needs. Some businesses rely on a cheap vps to ensure privacy within the company. But, whatever type of server hosting you go with, the most important thing to keep in mind is to choose hosting that will be powerful enough for your needs.
2. Back End
You might consider outsourcing someone to create your business’ website, but you should still be aware of back end operations.
The back end of your website is what only you (or the site developer) will see. The front end is what people visiting your site will see. When you have control of the back end, you’ll be able to update content, change important information, etc.
3. Machine Learning
Machine learning and AI have both become increasingly popular in recent years, and for plenty of good reasons! From a business standpoint, machine learning can assist with everything from helping customers online to integrating important data and information into your everyday practices. Machine learning models are used to make accurate predictions, so your business has a better chance of reaching success when you put it into practice.
4. Cloud Hosting
You’ve undoubtedly heard of the cloud, but do you actually know what it is or how your business can benefit from it?
Cloud hosting refers to a “virtual server” of sorts, that allows businesses to store their data there, rather than paying for private servers. There are many benefits to cloud hosting, including the ability to share data within your business. Many cloud hosting providers also provide regular backups of your data, so if an accident were to happen, your data and information would still be safely stored in the cloud. If your business is allowing some employees to work remotely, cloud hosting is a great way to keep everyone on the same page.
5. CRM Software
There are many different kinds of custom software your business can put to good use. But, if you’re a customer or client-oriented company, Customer Relationship Management (CRM) software should be part of your marketing plan.
CRM software allows you to keep track of as much data as possible from your customers. It can include as many fields as you would like, including calls made to those individuals or their past purchases, so you can send them exclusive incentives on products they love.
6. Managed Services
Today, many startups are outsourcing as much as possible in order to save money. One of the best ways to do that is through managed services. Managed services can cover a variety of things, including:
- Network monitoring
- Data storage
- Web hosting
- Suggesting software patches
If you don’t currently have an IT professional on board because you don’t want to pay someone a full salary to take care of your tech issues, consider using managed services to ensure your business never goes offline.
7. Email Marketing
This might be a more familiar term for you, but most businesses don’t take full advantage of email marketing like they should. You can use email marketing to directly connect with both your target audience and loyal customers. The great thing about it is that it can be fully customized and individualized, depending on the segmenting and lists you create.
Nowadays, consumers want to feel connected to the brands they trust. They don’t want to see “just another advertisement”. Finding ways to connect and humanize your business will help your audience to feel closer to you.
8. Marketing Automation
When you start a business, chances are you have a very specific passion in mind. Maybe you have a great idea or product you’re trying to bring to life. That doesn’t automatically make you an expert in every area of business.
But, without a lot of financial backing, you might not be able to hire a marketing team right away. That’s where marketing automation can help.
Marketing automation refers to online platforms or software programs that can do everything from scheduling your social media posts in advance to giving you data analytics regarding your marketing efforts. In doing so, you’ll have a better grasp of the best practices for social media. It will allow you to hone in on the type of content that draws the most attention and gets a greater response.
9. Distributed Systems
A distributed system might not be something your business needs right away. But, as you start to get bigger, it can become very useful!
Distributed systems are designed to manage the data and server requests that come in and need to be sent out. It is a “system” of several computers connected to one network, so not one device becomes overwhelmed by the amount of data and everything is distributed seamlessly.
10. A/B Testing
A/B testing is a digital marketing technique that can help you determine the type of content your audience is looking for. You’ll release two different versions of a piece of content in order to determine which one performs better with specific audiences. Again, if you’re not familiar with marketing, this might be something to outsource. But, it’s a great way to learn more about your market so you know how to cater your brand to your audience.
Understanding tech terms when you’re getting started can make it easier to hit the ground running. Keep these terms in mind and familiarize yourself with how they can help your business. Doing so will help you grow faster, and reduce a lot of startup stress!