How digital technology plays a role in small business growth?
The epidemic has provided us with some really difficult life lessons. Everybody has had hardships during the past 2.5 years, and companies are not an exception. While others were nearly forced to close, certain firms have had particularly difficult circumstances. Some companies, however, not only made it through the difficult times but also saw incredible growth.
As Siddharth Mehta Bay Capital says, “global companies are significantly impacted by digital and mobile technology and in that matter small business are making its way towards a successful journey”. For your fast reference, the following sections cover some of the finest ways that digital technology allowed small businesses, in particular, to thrive through the difficult pandemic times:
Learning Opportunity
“It would be a great opportunity for small company owners and personnel to have time to pick up new skills while physical storefronts were closed” says Siddharth Mehta IL&FS. Some people needed to catch up on the platforms that would support their enterprises. Others filled hours that would have been idle with professional growth. Numerous local and national groups continue to host frequent online seminars and conversations aimed at assisting business owners in creating fresh strategies.
Connection
Prior to March, the majority of us had never heard of Zoom. However, the video conferencing application quickly rose to the top of the list of online meeting apps. Small company owners that needed to interact with customers and communicate with their teams immediately welcomed the platform since it was easy to use and free for conversations under 40 minutes. These technologies enable instructors or counsellors in small enterprises that offer services like counselling or fitness programs to continue seeing customers. Even seminars on how to make empanadas are being taught through Zoom by the proprietor of a small restaurant chain.
Updates on Evolving Circumstances
Are you available? The question was prevalent in the early stages of the epidemic, and the response might vary day to day. Email and social media have emerged as essential tools for informing clients. Small companies have survived and thrived as a result of improved safety regulations, expanded internet services, and in-person services like curbside delivery. Customers are now conditioned to check their social feeds and email inboxes often for updates from their preferred retailers and rely on them to inform them of both current events and new product offerings.
Brand Recognition and New Clients
According to a Connected Commerce Council poll, 40% of small company owners use digital tools to locate new consumers. Small companies would be advised to concentrate on expanding their fan base and producing engaging material that is pertinent to their clientele. In some demographics, TikTok and Instagram Reels have aided in raising brand recognition. Top platforms for attracting and interacting with new audiences include Facebook, Twitter, Instagram, and Pinterest. Hisey first used local Facebook groups to spread the news about her shop. She soon had a deluge of orders.
Conclusion!
Small company owners now have the ability to recognize new possibilities and grow their enterprises thanks to digital transformation. The small-to-medium-sized firms of today are easily able to change to meet the changing demands of their clients. They are now able to compete with big businesses because to digital connectivity.