How Small Businesses Can Leverage Technology (And Think More Like Winners)

Small businesses tend to remain small. But why?

It’s all to do with their attitude towards technology. They often imagine that the latest digital innovations are purely for the biggest Fortune 500 companies and that they couldn’t possibly benefit. 

But that’s not the case. Most small businesses are being buoyed along by enterprise-level solutions as we speak. 

The key concept here is one of “leverage.” The idea is to apply a little effort and get massive results. 

But how is that attainable? In this post, we find out. 

Take Full Advantage Of The Cloud

The cloud is a gift for small businesses. No other technology has lowered their IT costs more. 

These days, firms no longer need to manage their own IT networks or equipment. Workers can simply turn up to the office with their laptops, hook them up to WiFi and then access all the services they need through off-site servers. Companies don’t need to invest in any expensive servers or even hire IT, staff. Most cloud SaaS providers offer a help desk that you can call any time to troubleshoot problems. 

Take Your Online Presence To The Next Level

Digital economies are scalable because of the internet. Firms that can move their operations online can sell to much larger audiences far faster than their rivals. 

Invest in your online presence and build a community. Gather willing customers around you and bring them with you for the journey. Try to create a tribe – a group of people who celebrate whatever products and services you offer. 

Grow Your Social Presence

The majority of today’s consumers prefer to interact with companies via their social media channels, not by phone or email. As such, it pays to leverage platforms such as Facebook and Instagram. Remember, your competitors probably still aren’t using these tools, putting you at a distinct advantage. 

Use CRMs

Small businesses typically see CRM as an enterprise-level solution. It’s only something you need when you employ dozens of reps and have thousands of customers. 

However, CRM tools aren’t just for the big boys. They’re for the little guy too. 

CRMs help to streamline your business and help you provide better customer service. You can use them to keep track of all your prospects and monitor them as they make their way through the sales funnel. You can also store their details and notes about their orders, as well as automatically email them marketing materials, when appropriate. 

Advisors, such as Michael Fillios, have created an industry out of assisting small companies to make better use of technology. So even if you don’t fully understand CRMs or other tools, there are experts out there who can describe the benefits and help with implementation. 

Collaborate With Firms Who Know What They Are Doing

Who says that small businesses have to bring all their technology in-house? They don’t. Instead, they can lean on their partners to fill in the gaps where they struggle. 

For instance, small businesses typically find online marketing challenging. It is hard to get noticed when you don’t have a massive budget. However, when you work with firms that understand the landscape, it becomes considerably easier. You don’t have to manage the process because someone else is taking care of it for you. 

Use Small Data

Big data is all the rage in Silicon Valley, but most small businesses don’t have access to such vast repositories. And even if they did, they probably wouldn’t be able to put them to use anyway. 

That’s where “small data” comes in. Small data might sound diminutive, but it is still valuable. Companies that use it typically get to know their customers better and keep discussions engaging at every touchpoint. 

Small data is also helpful for CRMs. Retaining little tidbits of information about your customers helps you tailor your sales and make them more compelling.

Create A Digital Strategy

If you don’t have a digital strategy in place yet, you’re missing out. These are helpful tools that allow you to explore the digital technologies that could potentially transform or disrupt your enterprise. 

Digitization is the process of moving from traditional methods of performing tasks. For instance, it could be the move from paper invoicing to electronic. 

Digitalization is a different animal entirely. It involves building a new business model from the ground up, based on the available technology. For example, an estate agent business might stop posting for sale adverts in its shop window and instead move them online. 

Digital strategies are scary, but they can save your enterprise from disruption.