Becoming Small Business Leaders In 2020: What You Need To Know

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5 Tips for Small Business Leaders to Stay Ahead of the Game in 2020

It is quite easy for a small business or startup to get immersed in the competition flooding the market and never really swim ashore. Those who want to survive and succeed in the storm needs to have a considerable idea of how to use successful strategies to win customers despite the competition. In 2020, if you were to seek tips on how to grow an SMB into a successful business, the most dominant answer you will receive is to invest in technology that can help you deliver better customer experiences and drive more revenue from your operational channels. Keeping this fact in mind, let us examine a few tips and ideas to help small business leaders remain on the top this 2020.

Related Reading: 5 Digital Capabilities Every Small Business Needs To Invest In 2020

1. Building an automated business environment

Today you can empower your workforce to focus more on value-added jobs while mundane and repetitive tasks can be automated and seamlessly managed by innovative software. Automation can be implemented across every department in your small business, like Accounting, HR, Administration, Customer Relationships and much more. 

It does not replace human resources in any of these departments but provides you the flexibility to run these operations with limited resources and better efficiency. This will lead to lowered cost of operations as well as lesser managerial overhead and will ultimately provide better returns on your investment.

2. Intelligent Personalization for Customer Experience

Any business, small or big, needs to deliver an experience that customers would enjoy interacting with. However, with the rise of digital-savvy consumers, it is important to digitally transform your customer-facing operations as well. A simple example would be setting up an online retailing option for your small store wherein customers could place orders from the comfort of their homes through a web browser or even better, a dedicated smartphone app. 

In order to win an upper hand in the digital endeavor, small businesses need to rely on intelligent personalization for their customer service. Providing services or offerings based on factors such as budget, tailored offers, and discounts, geographical or demographic preferences, etc. will enhance your customers’ loyalty.

3. Smart Marketing

Small business leaders and startups face a need to garner attention from potential customers at the earliest after they have started business operations. Today, the fastest way to reach out to potential customers is through social media and other digital channels of interactive marketing. 

Using insights from a powerful CRM to drive efficient email campaigns and through intelligent sentiment analysis of your brand in social media, it becomes easier to win customers’ hearts. Powerful social media management and email automation tools can help you in reaching out to a large yet more qualified audience who have higher conversion chances.

4. AI-Driven Services

Artificial intelligence has become a mainstream technology today and is found in almost every consumer segment ranging from things as simple as a music app in our smartphone to highly sophisticated security systems. Small businesses are without a doubt, one of the biggest beneficiaries of AI evolution. 

With AI, they have the arsenal of serving more value for customers without having to spend heavily like established business houses. Things such as recommendations, automated customer service management via chatbots, the predictive forecasts for business revenue, etc. are all made possible by the implementation of AI platforms within the business.

5. Workforce Empowerment

The digital transformation wave that can propel your SMB into successful growth is not restricted to your customer-facing operations alone. Your employees are your biggest asset and brand promoters. Making their lives better through technology is a key factor in enabling sustainable growth in your business. 

Providing virtual spaces for teams to collaborate irrespective of their geographical location, powerful collaboration and communication platforms, secure file exchange systems, and intelligent marketing and sales automation systems contribute to making a seamless employee experience in your organization. When employees have access to the tools and digital channels, they need to work better, it ultimately creates a positive impact on the service they offer to your customers.

Related Reading: 5 Tips To Foster Team Collaboration In A Small Business Environment

In today’s highly competitive market conditions, small business leaders and startups can use technology to grow sustainably and grab market share from established biggies. The only requirement here is to choose the right digital channels and a reliable partner to guide them in their digital transformation journey. With a proven track record of enabling digital transformation for some of the most successful small businesses worldwide, Infince can be the digital magic your business was waiting for. Get in touch with us to explore how.

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