Needless to say, running a business in 2020 looks a lot different than it did just ten years ago.
Technological advancement has provided businesses of all shapes and sizes opportunities to grow their brand, make their operations more efficient, and increase overall productivity. And the best part about it?
While many of the tech and software solutions on the market require an investment, more often than not the costs pay for themselves in no time.Â
If you’re a small business owner thinking of ways you can thrive at the start of a new decade, consider these ideas for implementing tech in five important categories:
1. Marketing
Over the years, social media has gone from simply being a channel that young people use for communication to being a marketing behemoth for businesses of all shapes and sizes. In fact, it’s difficult to survive—much less thrive—as a business in today’s world without participating in social media at one level or another.
If your company has yet to embrace marketing through social media, now is the time to do so. If your company currently uses social media in a modest capacity, look for ways to boost your efforts. For example, try to post regular content (e.g., blogs, polls, promotional videos, etc.) about your company, and engage potential/existing customers through Facebook, Instagram, Twitter, and other platforms. Also, advertising on social media requires a minor investment, but it can quickly pay off in the form of sales and brand awareness.
One way to boost your marketing is to hire a 3D artist to help with 3D imagery, animation, and video. Not only can such a designer bring your company’s video content to a new level, but they can even enhance your print designs.
2. Inventory Management
Inventory management is one of the most essential aspects of any products-based business. And the traditional means of marking a spreadsheet won’t suffice for most businesses in this day and age.
What’s more, much of the inventory management software from ten years ago has been rendered obsolete by some of the newer options. By investing in up-to-date cloud-based software (e.g., Zoho Inventory, Oracle NetSuite OneWorld, Syspro), you can boost your company’s operational workflows, customer service, scalability, data analytics, and many other inventory-related concerns.
3. Project Management
Effective project management is also key to running a successful business. And as Technology Advice notes, there are a number of top-notch options available when it comes to project management software and tools. Trello, Wrike, and Asana are a few examples of solutions that can help you with budgeting, distributing tasks, tracking time, and collaborating with team members, among other functions.
4. Communication
Collaboration plays a major role in the workplace today, and communication is the foundation of good collaboration. Whether your company is home-based or in an office, having the right tools at your disposal can make a world of difference in ensuring your team is working together smoothly and effectively. Consider options like Slack, Microsoft Teams, and Skype for your communication needs.
5. Retail Transactions
If your sales transaction process is stuck in the 2000s (or even 2010s), updating it should be a top priority. For physical retail stores, make sure you have a reliable point-of-sale (POS) system that offers customers the most convenient checkout process possible while also helping your company manage sales and inventory. And if you have an online store, Acquire recommends investing in improvements to your online checkout process as well.Â
There are many ways tech can be a gamechanger for your small business. Evaluate your marketing, inventory management, project management, communication, and retail transaction processes, and look into the many digital options and services that can help you make improvements. These solutions can pay off in no time and put your business in a position to thrive.Â
