Mobile tech fuels growth for businesses big and small
Tech businesses of all sizes have recognized the global rise of mobile technology and have shifted their plans to meet the demand. While some companies are still figuring out the intricacies of smartphones and tablets, others such as Yahoo and Facebook have completely altered their business models.
Software survey highlights growth of mobile technology
Palo Alto Software recently conducted a survey of approximately 500 small business owners and found that almost half of the respondents plan to spend at least $5,000 on new technology in 2015. The majority of these investments will be focused on mobile and cloud-based strategies.
The software firm noted that while most small businesses are more conservative with their expenses, many business leaders recognize the value of these tools when it comes to business generation.
"The economy is recovering and small businesses are more willing to take risks that could pay off in the long run," Sabrina Parsons, CEO of Palo Alto Software, told the news outlet. "But business owners aren't going to spend their limited budgets on anything beyond the basics. They see tools like email marketing and business planning software as solid investments that will lead to increased sales in the coming year."
The survey also recorded a number of results that align with the emergence of mobile technologies. Approximately 89 percent of respondents occasionally use their smartphones to conduct business through email, social media and banking, while 56 percent use tablets. About 63 percent said they expect to increase their use of mobile devices for business-related purposes.
Facebook earnings depend on mobile
According to The Wall Street Journal, Facebook's earnings in the fourth quarter of 2014 increased by 34 percent to $701 million. The company's revenue rose by 49 percent to $3.58 billion, led by its mobile advertising efforts.
The social media giant has implemented a new platform – the Facebook Audience Network – to better understand its users. While the company may not be generating the same number of new sign-ups as it had in recent years, Facebook is doing its best to get the most out of each account.
"What Facebook Audience Network has done is allowed Facebook to find larger amounts of inventory [for app install ads]," Craig Palli, the chief strategy officer for Fiksu Inc., a mobile advertising software company, told the publication. "Facebook does not have a demand problem to grow. They have a supply problem to grow."