How Technology is Saving Small Businesses in 2022

Technology in small businesses is beneficial in multiple ways. It is designed to impact different departments and keep organizations running continuously. In fact, technology in a small business is the reason it thrives in a competitive environment.

Besides keeping businesses running, technology has also provided ways to become more efficient by saving time and money.

The advancement of technology brings plenty of various opportunities on a deeper level that leads to the expansion of businesses. Without such, people and businesses wouldn’t have survived at all. Technology has a bigger implication on almost everything in life.

This coming 2022, the ever-growing advancement of technology will not stop. And with the growth of the tech industry, there will be more and more tech deals, allowing you to grow your tech stack on any budget.

Impact of Technology in Small Businesses

Supports More E-commerce or Online Store

The 2020 pandemic has shocked the world. It affected plenty of businesses, closing down companies that have been around for years. However, technology changes things.

The internet and e-commerce platforms are technological advancements, thanks to them, that businesses have adopted to thrive during the pandemic[1] . Although both have been around for years, it has been a great tool to continue small business operations.

Small businesses that cannot afford storefronts or brick-and-mortar shops can invest in online stores. There are plenty of platforms such as Magento, BigCommerce, and Shopify that can support the building of online shops.

Furthermore, online shops are also the best way to find more customers. Since most people use the internet multiple times a day, setting up your small business online has an advantage. You can reach potential buyers even from another time zone.

Whether you sell a physical product or service, start investing in an online shop. Experts have predicted by 2040, 95% of transactions[2]  will happen online.

Remote Operations

Hiring remote and freelance workers have been around for quite some time. The market for hiring remote workers has recently increased as most organizations transitioned to a work-from-home setting.

Technology has also allowed remote work to flourish through the years as plenty of software development companies jump to build tools necessary for businesses operation.

Remote operations bring plenty of positive outcomes for small businesses. Some of these tools lower the cost, increases the chance of hiring skilled employees, enhances communication, and improves employee attendance.

With the help of technology, organizations can bridge the gap between the employees and managers by providing communication tools like Microsoft Teams, Slack, or Zoom. In addition, management tools are also beneficial to remote teamwork.

Improving Customer Service

Customers are the center of every business. They are the reason why businesses survive. Without customers, most likely, your business will fail. Therefore, investing more time and effort in providing the best service is crucial.

Selling your service or product is not the ultimate goal. You need to keep your customers satisfied. How do you do so? By providing excellent customer service, whether before they purchase in your shop or even after.

Tools like chatbots can assist customers with questions frequently asked or suggest products to purchase. Furthermore, it works 24/7, letting your business operate day and night.

Another way technology can help in improving customer satisfaction is through social media. Social media is a critical tool for every business. With over a billion social media users and millions who actively use it every day, an organization can use social media to improve its services.

With comments they get daily, organizations can use them to help improve their product and create ones that would satisfy their customers. It also helps connect businesses to their customers.

Enhance Collaboration and Communication

Whether your small business runs remotely or has a physical location, collaboration always matters. Communication between employees and business owners plays a role in improving sales and services.

Working as a team[3]  can solve issues and build trust in the workplace. Using communication software like email, Skype for Business, and Slack can improve the way departments work on a project. Productivity tools like Adobe Acrobat Pro, Zoho Projects, and Google Workspace are also beneficial in tackling documents that need real-time changes.

Technology finds ways to coordinate teams and let them share ideas that can help in finishing a project.

Accessible Payment Transaction

Online shopping has increased from 1.32 to 2.14 billion[4]  (2014 to 2021). With the increasing number of online buyers, providing multiple options for online payment is crucial.

Modern technology made it possible to provide e-commerce and small business owners multiple methods to accept payments. PayPal is the most common method of payment we all know.

However, businesses can integrate other payment methods, such as credit or debit cards, chat app payments, and cryptocurrencies.

Allowing different ways to accept payments benefit both small businesses and their customers.

Provide Better Security Measures

With everything being online, there is an increase in cybersecurity threats. Small businesses and individual users are often the targets of these cybercriminals. The most common reason is that individual users and small businesses don’t protect their data and devices.

Security software like Bitdefender, Kaspersky, and McAfee are excellent names in the cybersecurity industry. Furthermore, modern technologies like firewalls, VPN, and privacy guardians can be additional security for businesses.

Using security software and technologies not only protects businesses and customers but also increases the trust of buyers.

Building Better Marketing Strategies

Marketing is a technique that helps businesses promote their brand, reach out to customers, and create attractive advertisements.

Businesses have moved from traditional to online marketing as it best suits the demand of the customers. Modern technology supports marketing professionals in reaching their goals and projects.

Various marketing tools match the strategies used for businesses. SEO marketing can utilize SEMRush, Moz, and Ahrefs for keyword research and website ranking. Meanwhile, social media marketing can benefit from Hootsuite, Buffer, and IFTTT.

Furthermore, marketing experts use modern technology to research and analyze their target market. It can distinguish and break down the target audience into segments for creating specific campaigns.

Take Control of Other Departments

Technology is not only focused on the upfront of a business but also other departments.

Businesses can leverage the power of technology to manage their accounting department by keeping track of bills, stocks, and paychecks.

The HR department can also benefit from using technology. They can use tools to go through thousands of resumes when hiring.

Conclusion

Modern technology in small businesses brings better opportunities and growth. It influences every part of an organization. Using the right tools can help employees, customers, and the overall performance of the organization.

Don’t get left behind. Find out what tools work for your company and start using them to get ahead of your competitors.

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AUTHOR’S BIO

Vanessa Venugopal is a passionate content writer. With four years of experience, she mastered the art of writing in various styles and topics. She is currently writing for Softvire Australia – the leading software eCommerce company in Australia and Softvire New Zealand.


RESOURCE:

https://www.statista.com/topics/871/online-shopping/#dossier-chapter1

RESOURCE:

https://www.nasdaq.com/articles/uk-online-shopping-and-e-commerce-statistics-2017-2017-03-14

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RESOURCE:

https://www.statista.com/statistics/251666/number-of-digital-buyers-worldwide/