In this new technological decade, many entrepreneurs are eager to identify what tech solutions will come up and evolve how business is conducted. There have been a lot of changes in technology which changed the way business is done. Many small business owners however still think that such innovations are for big companies, or that they are too expensive to afford them. The truth is that small and medium-size businesses stand to gain more by embracing these new innovations and that such tools are affordable and pocket friendly. In this article, we will highlight emerging tech recommendations and how they could help in your business growth.
Small businesses should take advantage of the boom in the freelance industry and the growth in robust cloud collaboration tools. Nowadays, a lot of employees prefer to work remotely. Subsequently, many big companies are shifting to a partial or fully distributed team model, which reduces overhead costs but also enables employees and co-partners to work together seamlessly.
It has also been tested and proven that implementing the distributing team in your business dramatically boosts your talent pool especially when filling a position. These teams allow for access to a wider range of specialized skills without the need to pay for additional full-time staff salaries.
Improved CRM Solutions
Customer relationship management tools assist in tracking clients’ behaviours and help in communicating accordingly, hence allowing businesses to promote personalized touch with their clients. It is crucial for small and medium businesses to invest in an integrated, holistic view of their customers.
Unfortunately, the cost for CRM models has for a long time been far from the reach of most small businesses. In recent days, however, some operators have started designing CRM solutions specifically suited and priced for small businesses. These modules offer more than just contact management and are essential in improving general customer experience, competing in a social, omnichannel world, and gives access to analytics to help them surpass their customers’ expectations.
By adopting these CRM tools, businesses are able to integrate data from different platforms and improve their customer engagement. This leads to effective customer interactions and better satisfaction.
Mobile payments have improved business transactions and resulted in the growth of many businesses. Payments have become faster and more convenient hence increasing clients’ satisfaction. CRM tools offer a solution to also keep track of your inventory by sync with stock management tools. Contactless payments have also been embraced by small businesses as customers are continuing to be more mobile dependent.
Focus on Analytics
Very few businesses keep track of their website analytics and of their social media presence. This should however not be the case, as integration of analytics into the business is important in leveraging the power of information and marketing.
Cybercrime is a big concern for many businesses. This situation has been worsening by the fact that most SBMs are targeted as sweet spots by hackers. Although business owners acknowledge this threat, many are not adequately equipped in dealing with this menace. Without seeking professional help, many feel overwhelmed, confused, or even completely inadequate to handle such threats.
It is therefore vital for these businesses to hire IT experts, to create cybersecurity plans that will cover against a variety of digital threats such as mobile and cloud concerns. Also, extra measures can be taken such as adopting a cloud VPS windows to safeguard business data from falling in the wrong hands.
Investing in technology can be a challenge for most entrepreneurs but it is something that must be done. When adopted, information and communication technology can be beneficial to small businesses in boosting productivity, accelerating sales, and even in the marketing of products and services. Technology will definitely help small business improvement in many ways.
About the Author
Patrick Watt is a content writer, writing in several areas, primarily in business growth, value creation, M&A, and finance. Other interests also include content marketing and self-development. Say hi to Patrick on Twitter @patrickwattpat.