Canadian Business Growth Through Technology Adoption

Lucy Railton

10/22/19, 11:20 AM

New technologies have transformed the way companies operate over the past decade. Smartphones, cloud technology, marketing automation systems and AI have resulted in efficiency gains, strong growth and improved profitability for the companies that deploy them.

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But many Canadian businesses have been slow to adopt such technologies, according to the head of Amazon Web Services in Canada, Eric Gales. The regional head of AWS said that Canadian adoption rates are slower in Canada compared to other developed economies such as the U.S.

Companies that implement new technology are nearly twice as likely to report strong growth. 

And Gales is not alone in highlighting Canadian business's slow adoption of technology. A recent survey of 406 Canadian business leaders by software giant Salesforce. Shows that while 81% of respondents feel Canada is an innovative country. More than half feel that Canadian companies lag behind when adopting new technology.

The report goes on to show that companies who have been slow to adopt new technology often report missed sales targets, low profitability and slow growth compared to companies that have increased their use of digital technologies.

Companies that have implemented new technology are nearly twice as likely (25% vs 13%) to report strong growth over the last three years. And are much more positive about the future of their business, with 31% forecasting strong growth over the last 12 months versus 15% for slow technology adopters.

It is clear then that adopting new technology is vital if ALL Canadian companies are to benefit from the improving Canadian business landscape.

Adopting integrated marketing, sales and service solutions can help accelerate growth.

One way Canadian businesses can improve their competitiveness is to look for Software-as-a-Service (SaaS) options especially integrated marketing, sales and service platforms. Such systems combine customer relationship management (CRM), marketing automation, sales management, and customer service software to help connect these three critically important departments.

Taking an integrated approach helps companies capture more high-quality leads, nurture them effectively and convert them more efficiently. Connecting the different departments also helps your customer service team deliver exceptional service. So the new customers you gain will stick around longer.

Let’s take a look at the value of deploying a fully-integrated marketing, sales and service platform, such as HubSpot.

The problem with existing systems

Most Canadian companies are using a variety of disparate tools such as CRM, spreadsheets, email marketing, website development, or maybe even marketing automation or customer service tracking software to help run their business.

The problem with using separate platforms like this is important data gets siloed across multiple systems. This makes it difficult for teams to work together effectively. For example, your sales team will be missing key information such as which marketing collateral a prospect received. While the marketing team won’t have access to important information gained by sales reps who often have direct contact with buyers. Additionally, service teams who often must execute on services promoted by marketing and sold by sales, have limited insight into promises made by either department or into custom requirement customers may have previously shared. Which makes it difficult for the service team to provide a good user experience.

By implementing an all-in-one marketing, sales and service platform, companies can connect the dots between the different systems. This will provide more insight into customer behaviour, improve lead quality, automate key marketing tasks and improve the sales process.

5 benefits of implementing an all-in-one sales, marketing and service platform…

1. Improve lead tracking and conversions

The ability to generate leads and convert them effectively is a valuable commodity for any company. Integrated sales and marketing platforms provide a range of tools and workflows which can be used to optimize your lead generation and conversion efforts. This will help you generate higher quality leads and convert them into paying customers much more effectively than before.

2. Build stronger customer relationships

Customers these days contact you using a range of apps and services including Twitter, Facebook, and webchat. This makes it challenging to track what customers are saying and keep track of their conversations. By using an integrated platform, companies can interact with customers using the method of their choosing, while all interactions are stored in a single place making retrieval and monitoring easier to manage.

3. Greater insight into customer behaviour

One of the biggest benefits of implementing an integrated platform is the ability to view customer interactions and behaviour. Integrated platforms gather data across all departments including web analytics, customer service and marketing. This insight allows you to make more informed decisions about where to spend your marketing dollars.

4. Improved SEO

SEO can be daunting for many companies that don’t have dedicated marketing departments. Getting it right involves complex keyword analysis, a deep understanding of website analytics and creating SEO friendly content. An integrated platform can help you by providing a wealth of tools to help track keywords, improve site ranking performance and monitor the effectiveness of content.

4. Take social to a new level

Like it or loathe it, social media forms a critical part of any inbound marketing strategy. The trouble with social is that it takes time and commitment to do it properly. One of the best ways to reduce the administrative burden is to schedule your tweets or posts ahead of time. HubSpot, one of the most popular integrated platforms, has a great social calendar that helps schedule content to be released months in advance. This tool alone, one of many in the HubSpot suite, makes executing your social outreach campaigns a breeze.

How integrated all-in-one platforms create a seamless experience across your organization?

With customers interacting with companies across multiple platforms and devices. They must create rewarding and connected experiences across all channels to provide a rewarding customer experience. The problem is, connecting all this data can be a challenge if you use 5-10 disparate systems.

All-in-one systems allow you to connect the dots across all departments, giving you greater insight into customer behaviour. You can capitalize on this by creating an omnichannel marketing strategy that provides a consistent experience both online and offline.

Create unique customer experiences across all devices and channels - an omnichannel strategy. If your business is still using traditional marketing practices you are probably creating different marketing campaigns for each channel. Such campaigns lose their effectiveness because the message is diluted by inconsistent delivery. Today's customers expect you to know who they are and where they are in the buying cycle.

By developing an omnichannel strategy you can create more targeted campaigns that deliver a consistent message in real-time across all channels and devices. This is only possible if you have access to accurate real-time data about your prospects and their buying history.

Real-time data allows marketers to send relevant personalized content based on location, personal preferences and the device used. If you have a physical presence this can also be connected to create contextual campaigns that provide high-value to your audience.

Conclusion

We have only scratched the surface about what is possible using integrated marketing, sales and customer service software. Such platforms can help your business achieve growth by providing greater insight into customer behaviour, simplifying data acquisition and automate marketing strategies.

They also provide business managers with up to date information about the health of the company. Allowing them to measure visitor to lead conversion ratios, as well as sales forecasts against win/loss ratios to create accurate sales projections. And monitor the effectiveness of marketing campaigns against customer response rates.

With the growth of Software-as-a-Service (SaaS) and integrated systems like HubSpot mean technology adoption is easier than ever before. This reduces and in some cases eliminates the barriers to entry that have made some Canadian businesses slow to adapt to technology.

If you would like to know more about how deploying an all-in-one marketing, sales and service platform can help your business generate growth. Give us a call today or complete the contact form here.