The Role of Technology in Small and Medium Businesses
Advancement, innovation, and productivity are three of the most important aspects of a business. In order to remain competitive in the market, come up with new products and services, and achieve operational efficiency, a business must able to integrate technology into its core operations and long-term strategy. This should not be an issue for large and well-run companies, but for small and medium businesses, this area is increasingly becoming more crucial these days.
With platform and tools – such as computer hardware, mobile devices, and cloud-based services – becoming more viable and cost-efficient, more and more small and medium companies are able to take advantage of modern technology these days.
In fact, statistics say that 92% of SMBs nowadays use some form of cloud computing in their business. Another 66% rely on mobile devices to manage their daily operations. And 66% of SMBs said their business would fail without wireless technology.
Having said that, it’s clear that modern technology plays a crucial role in the success of most small- and medium-sized companies. Read on as we discuss on this post the different ways technology can help SMBs compete on the same playing as the bigger firms these days.
- Establish a Strong and Professional Online Presence
More and more customers today use the internet to search products and services. With websites become more practical and cheaper to build, more and more SMBs are now able to create their own digital presence and reach an audience that is beyond the geographical scope of their business.
Websites allow them to enhance their online brand presence, as well as provide them with an opportunity to expand their operations once they entice a significant customer base on other locations.
- Engage Online Followers and Customers
Socialisation is one of the most important aspects that modern businesses must ensure to attract more followers and customers. With social media becoming a norm in the business landscape, many SMBs are now able to initiate a two-way and real-time interactions, enabling them to build better and stronger relationships with their customers, as well as create a positive impact on their prospects.
With social networking sites such as Facebook, Twitter, Instagram and Snapchat, SMBs are able to share information with their audience, kick-off marketing campaigns, and ask relevant questions that help them improve their products and services. Doing so helps them win their customer’s trust and position their brand at the forefront of their industry.
- Improve Marketing Campaigns
Gone were the days when small business can only afford to use traditional channels such as print ads and flyers on their marketing campaigns. With a plethora of newer and more cost-effective digital platforms such as email, social media, and websites, SMBs can now start their marketing campaigns with more confidence that they will generate positive results.
Moreover, with the power of analytics, SMBs are now able to measure the results of their campaign with better accuracy, allowing them to identify what’s and what’s not working so they could streamline their next campaigns for better results
- Better Productivity
While it’s obvious that technology directly impacts productivity, nothing can be said less than the way it takes place in the SMB sector.
With a variety of operations and utility tools, SMB owners and their employees are able to boost their productivity and save significant time and money on different tasks and processes. This ranges from printing out marketing materials to providing customer service through text, email, and chat.
By leveraging the power of technology, SMBs can achieve maximum productivity, reach their target customers more efficiently, and improve their products and services the moment the market tells them to so. With technology helping them ensure these “growth areas” of their business, SMBs can reach their goals and objectives sooner than what they have expected.