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It is becoming more and more evident that small business owners will be needing greater automation and cloud-based reporting applications, if they wish to remain competitive in the near future, since their customers expect them to respond quickly through their preferred communication channels.
Technology will certainly benefit businesses on a larger scale. In particular, it would be fair to say that there is a misconception about CRM systems, automation and other relevant technologies being too complicated for small businesses. In reality, these technologies have become much simpler to use than ever before and can help small businesses develop smarter operations, save time and connect with their customers with new and constructive ways.
According to leading organization in the IT industry, such as Microsoft, customers have come to expect this. More than ever, customers want to interact with businesses digitally, as they do with their friends and family: through social media and mobile devices. So, given that the ability to acquire and preserve customers is probably the most important factor when it comes to the success of a small business, it is vital for small business owners to be able to offer their customers the digital experiences they are expecting.
According to the findings of the recent survey, Global Entrepreneur Survey, conducted in 2016 by GoDaddy, the increasing availability of cost-effective and easy-to-use cloud technologies is undoubtedly the most important factor in terms of promoting business development. Essentially, ideas can be transformed into a fully functional online store and social media presence, in just one day. The ability to utilize the existing digital infrastructure that is worth trillions has greatly mitigated the risk of starting/managing a new business, while it has also motivated aspiring business people to take this first step.
Half of the Millennials clearly support that they intend to start a small business within the next 10 years. This translates into an ever-increasing competition for modern small businesses. Therefore, many such small businesses will have to abandon their old tools, such as spreadsheets, and step into the new era.
Based on the survey, while lack of time is affecting and stressing small business owners, ironically enough the majority of them do not take advantage of modern technology, in order to work in a smarter and more productive way -this obviously applies to technologies such as CRM, analytics and artificial intelligence. The bottom line is clear: small business owners who will adopt the benefits of modern technology and CRM has a prominent place among such benefits- will have bigger chances of success.