How technology can spur growth in small businesses

The advancement of technology has transformed the way we live and work. In the past, small businesses had to rely on manually operated machines, which were often inefficient and costly. However, with the introduction of new technologies, small businesses can now leverage a variety of tools to automate their processes and become more efficient.

There are many benefits that small businesses can reap from using technology. By automating their processes, small businesses can save time and money, which can be reinvested back into the business. In addition, technology can help small businesses improve their customer service and reach new markets.

By automating tasks, using data analytics to make informed decisions, and using online marketing tools, small businesses can gain a larger market share. Additionally, technology can help small businesses save time and money by streamlining processes. 

If you’re a small business owner, it is time to start harnessing the power of technology to help you grow your business. You can learn more about new technology for business by enrolling in online technology programs like those offered at Aston University. These programs will give you the opportunity to learn about a wide range of topics such as data analytics, cloud-based services, mobile development and security. You will also have the chance to gain real-world experience and interact with business professionals and entrepreneurs from different industries.

5 ways small businesses can use technology to grow

The technological landscape is constantly evolving, and small businesses must keep up with the latest trends to remain competitive. Fortunately, there are many ways that small businesses can use technology to grow. Here is a look at five smart approaches.

Use technology to facilitate communication

Word of mouth is still one of the most effective ways to promote a product or service, but when a small business is struggling to connect with its target audience, it is difficult to rely on word of mouth alone. Fortunately, there are many ways that small businesses can reach their target audience using technology.

For example, a small business can create an online presence using social media platforms to connect with its audience. You can also create a blog and website for your small business so you can offer educational content to your audience.

Store data in the cloud

Data is the lifeblood of any small business. Small businesses should always store their data in a secure environment, but this can be very challenging when using traditional technology.

Thanks to the introduction of cloud technologies, it is now easier than ever for small businesses to store their data on an external platform such as those offered by Dropbox and other providers. When you use the cloud, your data will be backed up at all times, and you will never have to worry about losing important data.

Make the most of analytical tools

A small business must make informed decisions to be successful, and this means gathering data about its target market, the competition and its business operations. Fortunately, there are many technologies that can be used to gather data, including surveys and online platforms.

Analytical tools have helped many small businesses increase profits, improve customer service and make informed decisions. Small businesses should use analytical tools such as Google Analytics, Mint and Facebook Insights to help them enhance their skills in sales and marketing. Manufacturing businesses can use predictive analytics to reduce costs and improve the production process while maintaining a competitive edge.

For example, you can use analytics to determine the best time to send out promotional emails based on your audience’s level of engagement with your brand. For more in-depth analytics, you can use platforms such as Google Analytics or more detailed analytical tools to monitor your reach and targeted demographics more effectively.

Use productivity apps

Technology can also help small businesses to enhance the efficiency of their workflow. There are many productivity apps that a small business can use to streamline its operations. For example, using a time-tracking app such as Toggl will allow you to track how long employees spend on each so you can ensure they are making the most productive use of their time. You can even break down each activity by project and department so you always know where your company’s resources are being allocated.

You don’t need an army of project managers when you rely on technology. Thanks to digital innovation, you just need a computer or mobile device armed with productivity apps such as:

• Trello
• Basecamp
• Slack
• Podio
• Asana

You can sync many of these apps with their desktop versions so you can create and manage workflows across multiple devices. This will allow you to save time and money by avoiding the need to hire more personnel to handle these tasks. 

By using apps to manage workflow, small businesses can stay productive during the working day and focus their energy on improving the customer experience. Additionally, it can help small businesses create internal consistency in their processes.

Employ web-based payment systems

For most small businesses, cash is the most convenient method of payment. However, introducing alternative payment methods such as web-based payments will help you to expand your company and attract more customers. For example, you can include a “Pay Online” link on your website so customers can easily make a purchase using a credit card or e-wallet such as PayPal.

Whether clients are purchasing something online or through a brick-and-mortar store, electronic payments are becoming more popular among companies in every industry and can boost your online sales.

Wrapping up

Technology can do more than just automate tasks and improve the efficiency of your workforce. It can also help to diversify your revenue stream, drawing in new customers and increasing sales. Success depends on using technology as a way to stay competitive and grow. From customer service automation and streamlined workflows to marketing campaigns that reach potential customers across multiple channels, business owners who use technology effectively will have the power to expand their business into new markets or launch a completely new enterprise.