Can Telecommunication Networks Improve Economic Growth

Telecommunication is a way of being connected, talking, and getting required information from the customers and clients without visiting them physically. This is the time of technological advancement that has made customers more and more relaxed. Now they want to shop from home from the companies working around the world just by using internet. Now telecommunication plays a vital role in this regard. Customers want to get surety before making a purchase that if they are buying stuff from a reliable source. Telecommunication offers instant contact with clients and faster way to get feedbacks and complaints. Now, the question that if Telecommunication Networks Improve Economic Growth or not, the answer is that, yes Telecommunication Networks can surely Improve Economic Growth, and how, the answer is given as below:

Brings More Customers:

Telecommunication is not just to talk on phone but to market yourself in front of so many customers in less time by using various modes of communication such as instant messaging, social media posts, and taking feedbacks via call. Now, as customers are listening from you constantly and they are also able to exchange their opinions as well, hence they are going to trust you more. With this trust, they will come to purchase from you more and not only this but they will also recommend your company in their acquaintances. In this way you will be able to build a huge and bigger chain of customers.

Builds Chains of Loyal Customers:

Telecommunication is not just to talk with the customers and clients over phone but it is a convenient way to keep in touch with your customers. When you remain in touch with your customers all the time, listens to their problems related to your products and services and resolves them faster, a trust gets build on your customers regarding your company. Now, they would prefer to do shopping from you rather than your competitors. So, you see that telecommunication has helped to build a chain of loyal customers. You don’t have to convince them for shopping because they already trust your brand which means your small business will grow for sure. Small business growth means increase in per capita income which means economic growth.

Offers Help in Advertising and Marketing Your Business:

Moreover, telecommunication can be used as the greatest mean of advertising and marketing your products and services if used in correct manners. You have a list of customers trusting you and your company. You have their emails and telephone numbers. Whenever a new sale or offer would come, you can send messages, update social media accounts, and send instant and WhatsApp messages. In this way, a number of people will see the thing you want them to see. Make sure the offer you keep in the emails and messages is worth adopting so that customers adopt it for sure. Hence, when you will advertise more, you will get more customers, and more customers mean more profit which is best for the growth of your small business.

Cost and Time Effective Way to Get Feedbacks:

You don’t have to higher huge staff to manage postal mails because there are many telecommunication software applications available that can be operated by a single a person. Hence, you don’t need to employee huge staff to manage customers and answer their queries. It will diminish the overall cost of business. Now, the less cost of business means less use of resources and less expenses, which is good for your small business. Less cost means more profit that you can use to further expand your business.

Improves Services and Products Quality:

Also, when you get instant connection with your customers through telecommunication, you are getting up to the minute report of your customers’ views regarding your company, products, and services. It means, you are getting all the information about the quality of your products and services. In the light of these reports, you can not only improve the quality of you existing products, but you can produce better products in the coming ahead. In the absence of telecommunication, you will have to wait to see if your customers are satisfied and during this team, your customer can go to the other company to purchase products. Of course you won’t want it.

Get Customers from All Around World:

Telecommunication is a way to connect yourself, your company, your business, and your products to the customers around the world. So, your business is being expanded as you are getting customers from round the world and you have become part of international marketplace. Now you require to make your telecommunication even better because competitors in international markets are always looking forward to grab your customers.

So, these are some of the benefits or reasons that support the idea that Telecommunication Networks can surely Improve Economic Growth by improving small businesses.