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Technology is a driver for economic development

February 26, 2016 by in category News with 0 and 0

Technology adoption has become one of the leading indicators of economic and social development in the modern world. Internet usage and connectivity is increasing all around the globe, but naturally remains the highest in the most developed countries. Pew Research Centre recently conducted research into this and found that 11 advanced economies, including the US, Western European Nations and Japan, had a median of 87% internet usage or smartphone ownership in 2015. In comparison, 21 developing nations had a median of 54%. This included huge growing economies like Brazil and China.

The difference between the two is stark and shows just how much developed economies utilise modern technology and the internet. One interesting fact to keep in mind is that developing nations have seen a huge increase in their internet usage and smartphone ownership in just a couple of years. In 2013 the median across the nations was just 45%. When we consider the size of the populations in some of these countries, a 9% jump in two years is astonishing and shows that technology is a major driver for development.

More people are using the internet around the world because it offers so many fantastic benefits, whether it is increased connectivity or better access to information when they need it. Businesses can take advantage of this by offering an array of services online and reaching out to a wider audience than they would be able to reach otherwise. The more people that connect to the internet, the more it will lead to new innovations and services. This in turn will attract higher numbers and lead to further development.

The internet also offers major benefits to businesses when it comes to marketing. The medium is immensely flexible and can allow a business to reach out to individual consumers in a way that would be impossible with traditional advertising. Online adverts can be focused more effectively by placing them specifically where the target market will see them. The fact that adverts can be shared and spread quickly from here means there are fantastic opportunities to make each investment count.

Digital marketing has advanced a great deal within a short space of time because businesses have seen the wealth of potential it offers. Advertising on social media has become a particular growth area because of the huge number of users. According to Statista Facebook alone has over 1.5 billion users around the world. Being able to access so many people on a personal level can provide all kinds of benefits, giving companies the chance to build relationships, enhance their reputation and even actively boost their sales.

Businesses looking to incorporate digital marketing into their strategy should ensure they dedicate enough resources to the process, retain their focus and carefully consider their target audience. It is also important to monitor changes and developments so that approaches can be adapted where necessary. This will help you to stay at the cutting edge where you can stand to make the best returns.

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