The pandemic has forced small to mid-sized business owners to step out of their comfort zones and experiment with innovative ideas. Companies made revolutionary changes to the ways they engage with customers and have started looking for ideas to support their staff during the economic crisis that resulted from the pandemic.
Many companies were supported by technology when their operations moved to remote platforms. The companies that managed to survive the crisis are the ones that succeeded in adapting to the newer ways to collaborate with team members, maintain stable relationships with customers, and deliver products without delay. This has made small businesses seek out effective solutions for personalizing interactions and automating processes.
It is not going to be that easy for small businesses to raise a lot of money to adopt new technology. When it comes to smaller companies, employees and managers handle multiple roles and there won’t be enough money to invest in the purchase of new tools and to offer advanced training to employees. That said, SMBs that are adaptable and willing to make necessary changes to prepare them for the future will more likely be successful. When you see a clear ROI, you will embrace change.
Today SMBs can observe a rapid shift of the customer base to digital channels. They realize that customers prefer engaging online directly. For surviving the competition in the business environment that has undergone a huge transformation, businesses would have to use personalization and automation technology but SMBs are on the lookout for new capabilities that will be delivered complying with their terms.
This is seen as an opportunity by large companies and SMBs equally. Some technology companies invest their efforts in developing consumer tech and enterprise solutions that cannot be afforded by SMBs. But things have started changing now as leaders have recognized the potential of the SMB market. The projected market value of SMB-focused sales and marketing automation solutions is about tens of billions.
What are the reasons for the extremely good performance record of companies like Slack and Zoom in 2020? Instead of focusing on enterprise software alone, they offer high valued, affordable solutions for the SMB market.
Tech companies understand that grabbing the opportunities before it is late and offering services tailor-made for SMBs will help that market expand. If you own an SMB business and are planning to bring much-needed transformation to your operations, find out the right tech companies that can serve your market efficiently. Here are the three traits that your technology partner should have:
More Focus On Delivery On Support
SMBs are often under-resourced and hence they appreciate greater support levels more. Tech companies realize this and attempt to serve SMBs accordingly. SMBs see that offering stellar support is one of the fastest ways of gaining loyal customers and that is why they focus more on support than marketing.
The biggest barriers that stand in the way of product usage and adoption of SMBs are a high price point and a steep learning curve. SMB owners are so passionate about their business. If tech companies deliver them the quality products they need, SMBs will actively advocate the products they are using and that is a strong type of marketing a company will benefit from.
Good Knowledge Of The Needs Of The SMB Sector
Smaller companies are associated with high levels of complexity and diversity. Your SMB could be an online venture run by a few people, a dental practice with clinics in several locations, or a fitness studio. SMBs are diverse and vary in the number of employees, engagement needs, and sales models used. Some tech companies deliver a one-size-fits-all type of product. When you are looking for a technology partner, find a company that can offer products that meet the specific requirements of your business.
The tech company you have chosen has to understand the individuality and complexity of the SMB sector. Companies that have a clear understanding of the unique needs of SMBs will not compromise on the quality of the products they offer, they will invest the same time and effort in building products for SMBs as they do in making enterprise and consumer products. They offer solutions that let SMBs capitalize on the investments they already have and expand their use cases once they are in a position to do that.
Exciting Features In The Solutions Offered To SMBs
Tech entrepreneurs that serve the SMBs believe that offering them exceptional solutions that can solve big problems will help generate a lot of new business. SMBs value personal relationships in business a lot and if you succeed in offering a solution to a persistent problem that is bothering them, one solution that doesn’t require investing a lot of time and money, they will repay your investment in development and support through their evangelism of the product that you offered them.
Find out tech partners that provide a customer experience that crosses the infinitely scalable limits. If a tech company shows a willingness to go an extra mile for their SMB customers, it proves that they understand the value of the SMB sector and are attempting to achieve organic growth through true customer satisfaction.
The leaders of the SMB sector are part of a sector that can add trillions to the global economy and contribute to a faster post-pandemic recovery. But if you have to reap success in the coming years, you will have to adopt appropriate technology that can personalize customer interactions and automate core tasks.
While many companies continue focusing on the enterprise sector, others like Slack and Zoom realize the importance of the SMB sector and launch products and services that assist their growth. If you are an SMB owner looking for ways to connect with your digital customer base, find out a technology partner that understands your unique needs and offers trustworthy advice.