The digital age has brought many technological advances, innovations, and inventions that have quickly become necessities for small businesses. Technology enables small businesses to compete with big corporate institutions by boosting efficiency and convenience in the workplace. Regardless of the type of business, harnessing technology can boost success. If you’re wondering how to use technology in your small business, the following ideas will help you get started fast.
CRM (Customer Relationship Management) solutions
All businesses depend on positive customer relations for their success and growth. CRM is a cloud-based software that provides many benefits to small businesses, for example, increasing return on investments through lead conversion, customer retention, and reduced marketing costs. Make sure you consult an IT Support Company before deciding on a suitable one that gives your business value for its money.
Electronic payments are not designed for large enterprises exclusively. Recently with the COVID-19 pandemic, many small businesses have gone online. The best way to keep your business running, retain customers and reach others is by accepting online payment methods.
Electronic payments for your small business can be divided between ACH (Automated Clearing House) and credit card transactions. Most systems can process both to give clients more options. Consider the simplest payment method for customers, fees amounts, and the possibility of recurring payments.
Digital security solutions
As businesses continue to go online with their activities, the more they are prone to cyber-attacks. Small businesses must aim towards protecting their customer’s privacy by encrypting emails, changing passwords often, and monitoring potential malware. Apart from customers, protect yourself from hackers who can steal intellectual information and use sensitive data to extort funds from you.
Time is one of the most vital resources in a business, and every minute at work should be used wisely to bring success. A time tracker enables you to keep up with all business details by collecting and inputting data on a timesheet. Apart from tracking how much employees have worked, using a time tracker app has more benefits to your business like:
- Increase profitability through monitoring projects and prioritizing tasks.
- Set clear objectives for team members around what each of them should be doing and by what time.
- Provide transparency where team members clock in automatically.
Chatbots offer 24/7 customer service, enabling you to keep in touch and support clients throughout without the need for full-time staff. Previously, chatbots only answered simple questions from customers, but now they can do much more. With the growing number of chatbot tech advances like Facebook Messenger and chatbot plugins, they can handle numerous essential marketing and customer services for you like:
- Collection of marketing data when customers sign into the chat using their profiles.
- Product recommendations personalization to shoppers.
- Send market campaigns to customers via chat, text, and email.
While many small businesses avoid investing in 3-D printing because it seems expensive, the latest advancements have made it more affordable. You can use 3-D printing to prototype new products and manufacture in-house and save on time, money, and effort. It is a substitute for expensive manufacturing as it doesn’t require manual labor. Also, 3-D printing technology is easily customizable; you can replicate current products without the need of a third-party manufacturer.
Blockchain is a technological trend that most small businesses are yet to embrace. While many people think it is only available to large enough companies that can afford developers, incorporating blockchain into your small business is affordable. It is an efficient way to serve customers in conducting transactions and raising revenue.
You can use blockchain for easy payments whether you’re an online business or nail salon, restaurant, bakery, and gym that requires physical space. Blockchain allows you to leverage self-enforcing and self-verifying contracts with suppliers and employees through the ledger for next-level protection. It also provides more affordable and safer cloud storage for your data.
Accounting and finance app
These apps can be useful in your small business by reducing the manpower needed to conduct activities regarding money management. They can assist with company taxes, employee monthly earnings, deductions, and benefits, and when the staff gets their paychecks. Accountants and finance managers can avoid a lot of paperwork and errors that come with it to create time for more pressing issues.
Technology continues to become more affordable for small businesses. Take advantage of various technological tools to create sustainable business growth. Secure your data, manage customer relationships, and enable electronic payments. Use time trackers for better time management and productivity, blockchain, accounting and finance apps, and 3-D printing suitable for your business.