5 Top Technology Trends for Small Businesses

Globalization and technology have made it a lot easier for entrepreneurs to fulfil their dreams. Opportunities for businesses of all sizes to grow and succeed are innumerable. With promising trends emerging each and every year, more and more entrepreneurs are venturing into the world of business. The evolving technology is transforming the way people are developing and running their businesses. Understanding the fact that technology plays a vital role in the growth and efficiency of a business, vendors are developing tech tools that are highly beneficial and cost-effective too.

The world of business is highly competitive. To take your small business to the next level, given below are 5 top technology trends that will revolutionize small businesses.

Marketing via social media

Current demographic trends suggest that there is an exponential rise in the number of people spending time on social media platforms. More and more people are making purchasing decisions based on social media. This is a highly effective platform for small businesses to connect with their prospective clients. You can promote your brand via illustrations, tag lines, videos, contest etc. on social media. Users follow brands and report their experiences via comments. If your business is not already on social media, it is time you introduce your brand to the whole world via this popular platform.

Implementing AI-Powered tools          

Artificial Intelligence (AI) has mesmerized the business world since inception. Implementing AI-powered tools can streamline and automate your business processes, increase efficiency and productivity. AI technologies can also help you save time that you need to invest in running your business. These tools help you evaluate your business strategies. The data that you obtain from your AI-powered tools help you to assess your business strategies, competitors, customers, productivity, sales, target market and so on. Implementing AI in your business system leaves you with innumerable benefits. First of all, you’ll be saving money, all your processes will be automated. AI will increase your business efficiency and profits.

Improving customer experience with CRM solutions       

A Customer Relationship Management (CRM) system helps to maintain and analyse information as per your requirement. Be it customer relationship profiles, sales reports or integrating data from multiple platforms, a CRM solution ensures better interaction and customer satisfaction. Earlier small businesses would hesitate to implement Customer Relationship Management (CRM) systems due to its high cost. However, this is changing as vendors are providing CRM solutions for much lesser prices and the ones that are best suited for SMEs. You can opt for a CRM solution that is low budget, customisable, easy to use and the one that integrates easily with other tools used for your business.

Connecting with IoT devices

IoT-enabled devices can make your business more efficient. This technology is gaining immense popularity in homes as well as offices. It makes everyone’s lives a lot easier by automatically gathering data, and processing and sharing it to improve business activities and improve customer experiences. IoT devices enable businesses to gather all sorts of information automatically, analyse it and provide solutions for customer satisfaction, in a highly secured manner. IoT gathered information helps small businesses to understand customer preferences and connect them with your enterprise. IoT-enabled devices also handle inventories, space utilization and remote operations.

Boosting business with virtual reality

Gone are the days when virtual reality was restricted to gaming. Now, businesses of all sizes are embracing this technology to boost their organization’s growth by enhancing customer experiences. Apart from the numerous uses, virtual reality is widely used to create marketing-based videos that can be watched with VR-headsets. With virtual reality, prospective clients can take a tour of your property on sale, hotel, offices etc. Virtual reality tools can help you streamline operations and improve your employee as well as customer experience. These tools are also being used successfully in various departments like marketing, accounting, finance, recruiting, training and customer care.

Leveraging these latest tech tools in your processes will be highly beneficial for your business. Latest technologies can provide greater efficiency and versatility. Implementing the latest technology may seem to be challenging and expensive for many small business owners. However, in the long run, these tech tools will increase the efficiency of your business, enhance customer experience and help you make apt business decisions.   

 – Amareta Rodrigues


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