Why digital is a great way to grow your small business
Why digital is a great way to grow your small business
In business, technology and data insights are the secret to staying ahead of your competition. In the late 1990s, few people could have guessed what the business landscape would look like in 2019.
Smartphones, automation, cashless payments and co-working spaces are just the tip of the iceberg – the world of work and the world in general have changed a lot in two decades, massively impacting business mindsets and customer purchasing behaviours along the way.
But while no one can say for certain what disruptive developments are in store for the next 20 years, maximising the benefits of technology can help businesses meet and overcome future challenges, while sharpening their competitive edge here and now.
In recent surveys the changing consumer preferences and purchasing behaviours were seen as one of the top threats to future growth. One major benefit of technology is that, through business intelligence tools and data-driven insights, enterprises are now better equipped to identify shifting trends in customer patterns, behaviours, lifestyle choices and so on, resulting in better-informed decision-making around production, forecasting and planning.
Research shows small business owners are a passionate bunch who’ll fight for their future. One in three has dipped into personal savings to fund their business and 21 per cent have missed, rescheduled or postponed a family holiday because of a business commitment.
So it’s no surprise to see many exploring ways of attracting more customers through technology. They’re looking to improve how they use social media increasing online sales and using more technology.
But many are still failing to make use of the digital business options available to them – only 38 per cent are using social media for marketing and only a quarter accept sales and bookings through a website.
It’s folly for any small business to underestimate the value of investing in an online presence. If you haven’t already, prioritise the development of a strong online brand that clearly explains what sets your business apart.
And, once you have a digital strategy in place, look for tools that can help you learn more about your customers. That’s the most effective way to provide great customer service, build loyalty and stay competitive.
The research shows that small businesses using social media marketing, have a website with online sales functionality or accept orders through a third-party site are more likely to experience revenue growth.
Running a small business is difficult enough so make use of digital business opportunities and spend more of your valuable time with customers.
Contact us today to learn more about how we can help you.
