Small businesses are the backbone of society and at all times be at the forefront of innovation and alter in any industry. However, with the rise of technology in last few years, entrepreneurs and small to medium business owners can take things a step further and push boundaries more than ever before. Technology has offered many ways to transform and improve small business operations on a scale previously only available to large companies. To say that technology has managed to level the playing field is an understatement.
This post looks at 5 ways SMEs can use technology to their advantage.
Data Backup and Restore
Small businesses are at all times in danger of losing valuable data because of hardware failure, natural disasters or cyber attacks. Data loss can destroy a small business, leading to lost revenue, damaged reputation and even closure. However, with the emergence of cloud-based data backup and restore solutions, small businesses can now ensure their data is safe and secure.
Cloud-based backup solutions such as Dropbox, Google Drive and OneDrive provide small businesses access to secure offsite storage. This means that in the event of a hardware failure or natural disaster, the information is still accessible and can be recovered quickly.
Another game-changing innovative technology for small businesses is disaster recovery as a service (DRaaS). DRaaS provides small businesses with a comprehensive disaster recovery plan that includes backup, replication, and failover services. That is, if a disaster occurs, small businesses can recover quickly their data and continue their operations, minimizing downtime and lost revenue.
Artificial Intelligence and Machine Learning
Artificial Intelligence (AI) and Machine Learning (ML) aren’t just buzzwords anymore. They are changing the way businesses operate, and small businesses are not any exception. AI and ML are used to automate repetitive tasks, improve customer support and predict future trends.
One of the most promising AI and ML applications for small businesses is chatbots.
Chatbots are AI-powered virtual assistants that can handle customer inquiries, provide support, and even complete sales, and in last few years, their capabilities have increased, enabling them to do more than ever before. They are available 24/7, so small businesses can provide their customers with a seamless experience, even outside of business hours. Chatbots can even collect data about customer behavior, which can be used to improve marketing strategies and customer engagement.
Internet of Things (IoT)
Internet of Things (IoT) is a network of connected devices that can communicate with one another and exchange data. This means that everything can be linked internally for small businesses, allowing you to monitor your supply chain, automate the order process, monitor inventory levels and automate tasks when needed.
IoT is also useful in helping organize and present customer data allowing you to take advantage of trends and buying and monitoring order changes, including volume and frequency, and offers you enough time to connect with customers with the information you have.
Social Media Management and Monitoring
Social media has changed the way businesses reach potential customers and market their business. However, while it is a priceless tool for many DMBs, it can be time-consuming to pull off. Proper social media management involves creating and posting lots of content featuring numerous types of media.
Social media management and monitoring tools like Hootsuite, Buffer, and Sprout Social are changing the game for small businesses. These tools give small businesses a centralized platform to manage and monitor their social media accounts. They can schedule posts, track engagement, and even provide analytics on social media performance.
Not just good enough to post to your social media channels anymore.
You need to stay ahead of the game by using social listening tools to help you identify anytime your brand is mentioned online, whether you are tagged in person or not. You can find out what’s being said and shared about you, and you can identify gaps in the market and even adapt what you offer to fix any issues or improve your offerings.
3D printing
3D printing is a game changer for small businesses. This allows small companies to create prototypes, customise products, and even manufacture small batches of products on demand. In recent years, this technology has become more accessible, enabling SMEs to incorporate it into manufactured products and parts.
This means small businesses can test their products, make improvements, and get them to market more quickly.
3D printing allows for higher quality control, particularly when using high-end filament extraction machines, such as the ones you can find at ReDeTecto improve output quality and massively reduce waste in the process.
Conclusion
As a small business owner, embracing innovation and staying ahead of the competition is critical. By adopting innovative technologies, small businesses can improve their services or products, increase customer satisfaction, and expand their market reach.
