Technology has become an integral part of our lives. There are several ways in which we have evolved thanks to the advancements in technology. Our socializing has become a lot about how we interact on digital social platforms. In fact, our food choices, clothing, and even our education now are affected by tech.
Tech is significantly impacting businesses as well, whether it is a large-scale business or a small one, regardless of its industry type. So as you dive into the business world, you must learn how tech is impacting your business.
Impacts of Technology on Small Businesses
More brand awareness
With online platforms, your brand becomes a lot more easier to discover than physical means. You can spend a couple of bucks in your SEO game and expect your brand to come at the highest rankings on most search engines. Moreover, social media marketing on platforms like Facebook and Instagram is a phenomenal way of getting better brand exposure. There are around 3 billion active users on Facebook alone, how can you expect your brand to go unnoticed there?
Other cost-effective tactics are also useful for small businesses, such as paid ads and video ads on YouTube. You can also make use of analytics tools and insights to create more targeted marketing strategies. Tech-based solutions such as e-mail marketing and SEO can help you do wonders for your brand’s awareness.
Technological alternatives are reducing the need for employees. This is a huge benefit for smaller businesses since they have a low budget, and don’t want to spend on a lot of employees. So, you can use chatbots and AI-based automated messaging services to cater to your customer’s needs. Even for your marketing analytics, accounting, finances, and project management, you can use cost-effective and advanced software solutions instead of hiring a lot of employees for it.
Flexible Working Environment
As a business owner, flexible work timings and conditions are benefits that you greatly enjoy. As for your customers and employees, tech enables them to enjoy these flexible conditions too. Your online store can be used by customers to browse through your products, place orders, and make payments at any time of the day. Meanwhile, your employees can also work remotely at their preferred schedule instead of having to take days off for emergencies and vacations. As a result of a flexible work environment, you can expect greater productivity and efficiency.
Excellent Relationship with Customers
The best part that customers enjoy about small businesses is how personal they are. Small businesses tend to give their customers a lot of royal treatment, attention, and care. With technology incorporated into your business model, you can take this level of customer care a step ahead.
Instant messaging, quick solutions, and good communication between you and your customer can help you build a loyal customer base. Constantly posting on your social media pages, featuring your customers’ pictures, and interacting with them through various platforms can foster a personal relationship that can be profitable in the longer term.
Cost-Efficient Marketing Tools
Perhaps the juiciest fruit tech has given to small businesses is the cost-efficient marketing avenue. Say bye-bye to traditional means of marketing that require a whole lot of budget, such as TVCs and celebrity endorsement, and switch to methods like influencer marketing and YouTube ads.
Digital marketing is all the rage these days, and the reason behind it is that it is very cost-efficient and offers high-level engagement and targeting. You can run highly targeted social media ads at very affordable rates.
Influencer marketing is one great example of how social media can be used as a major, most successful marketing platform. Brands become the talk-of-the-town by just sending out PR packages or collaborating with known influencers.
Content marketing is also making its way to the top. You can rely on video content, infographics, and aesthetic pictures to do wonders for your marketing campaign. Not only cost-efficient, but all these digital marketing tactics and methods are more like a one-person job; it does not require a huge team of marketers to sit together in an office and come up with a plan.
One thing all small businesses struggle with is budget. Most small businesses have limited financial resources, and wish to use them wisely. Therefore, a huge advantage of tech is that these businesses can exist, operate and succeed without any physical presence at all. They can simply have an online store, a social media page and a functional website, and their business will be just as good!
How Tech Negatively Impacts All Businesses
When we rely too much on something, it does become a potential threat to certain aspects. Similarly, the increasing dependence and trust on technology for running businesses can become slightly problematic. Let’s take a look at a few challenges or negative impacts of tech on all businesses.
Security and Privacy
We all are aware of how widespread internet and mobile devices has put our valuable data and information at risk. From our locations to our conversation with friends to our faces, everything is on record. And technology does not seem to be stopping anytime soon. There are more advanced and sophisticated tools and platforms developing, such as large cloud databases that allow businesses to hold on to customer’s data for a very long time.
This has its own benefits, especially to marketers as such data allows them to target their strategies really effectively. However, sensitive data also increases the risks of data breaching and possible misuse.
Unlike humans, technology is constantly advancing and needs full replacement when new innovations and improvements are made. Humans, on the other hand, can be retrained in no time and the same person can adapt to various situations and take up several skills at once. Therefore, the cost of replacing old tech with the new one is quite a lot.
If you are running a small business, whether in a physical store or an online one, you must have realized the importance of incorporating tech in your business model. With a cheap internet service in your area and a couple of gadgets here and there, you can have technology do wonders for your business. However, you shouldn’t remain unaware of the risks and possible damages of excessive exposure to tech can have on your business and personal space.
Baldwin Jackson is a successful digital marketer with expertise in search engine optimization and content marketing. The perfect balance of his analytical ability and creative thinking is what sets him apart from other practitioners in the digital marketing realm. He has helped a lot of small and medium-sized businesses in crafting their digital marketing strategies that are not only cost-effective but delivers results as well.
Baldwin is also a proud father of two kids and a Sports enthusiast. When he is not working, you will find him watching ESPN and NFL network. He has been able to get an amazing package on his favorite channels from Buytvinternetphone.com.