Small Business Digital Transformation in the Context of the Pandemic
Past, present and, very likely, future events have proven that certain and predictability are luxury items to have. In such a business landscape, traversing thru its ever-changing paths and events becomes an art form in itself. Small businesses, now more than ever, have to adapt and evolve faster and react almost instantly to emerging trends and changes. Their existence depends on that.
Luckily for them, flexibility and adaptability are the trademarks that separate them from the enormous multinational conglomerates. Their ability to adapt to local markets is unparalleled. Discovering business niches and satisfying untapped potential among unmet needs coupled with the direct and human approach that they have, could very well be the saving grace and lifeline that will keep them going thru any turmoil. We all need a helping hand every once in a while, so it doesn’t hurt to list a bit of info that can be universal to any local small business. The economy is built on them so they need all the help they can get.
1. Mobile workforce
What a lot of us learned is that everything is subject to change. Every aspect of our lives has adapted and changed, some for the better and some for the worse. How we view work has also fundamentally changed as we are not traditionally tied to a workplace anymore. With the prospect of working from home taking flight and becoming commonplace, small businesses can take full advantage of this due to their flexibility. By taking a realistic approach and view on which jobs can be done remotely, they are greatly reducing any costs related to their workforce. From rent to office employee benefits and travel costs, all of these, (and more) can be cut back or eliminated. Which leaves a good chunk of money for rainy days, savings and investment.
2. Data analysis
Many small businesses are sitting on data gold mines that are left untapped. Daily operations produce tons of raw information that, when processed and analyzed, can provide invaluable data necessary for decision making. A simple act of selling a product can yield valuable data such as time, place, method, and customer information. All of which can be used to tailor marketing and product towards the ideal customer.
Analyzing past data can also be relevant as data analysis is never too late to implement. Data doesn’t spoil, it shows you how you were and what to avoid. Learning from the past and implementing it towards a better future is easier for smaller businesses as they can adapt quicker than their larger counterparts, due to their size. As such, they can quickly find those untapped market segments and seize potential over the wanting customers.
3. SEO
If your product or company is not on the first few results on the first page on Google, you don’t exist. You can test this out. Type any product, go to the fifth page and see for yourself. The same principle applies to you. When opting to optimize SEO, small businesses need to remember, that scaling is everything. Just as they aren’t supplying the entire world, it makes no sense to market and does outreach to every single person out there. By focusing on local SEO with organic content that’s tailor-made to their domestic market small businesses is speaking directly to their customers.
After all, they know them best, as it is their product/services are customs made towards the local community. Thinking locally and on a smaller scale, lets them build the foundation of their customer base. As they can cater to smaller and even individual needs, they pass the restriction of mass productions and, universal one size fits all mentality that larger businesses operate on. With their local, micro-SEO, they can target specific groups, parts and niches that were ignored for so long and establish a foothold among them.
4. IoT security
Safety first, now more than ever. Being safe applies not only to our real world but to the virtual one, as well. If your business is operating in both, that’s twice the many precautions you need to take. IoT technology can help you cover all of your bases as you aim to improve and enrich your brand. Being safe while doing business is one thing, but learning from all of this data (we talked about this in the first item) and implementing those solutions can go a long way in helping small businesses reduce their operating costs.
It’s better to be safe than sorry and, various IoT security measures like cameras, sensors, wearables, checkpoints and, safety procedures help your workers feel safe. Also, your data needs protection from malicious attempts from the virtual world as well, so applying the same level of care and protection to that part is paramount.
5. Digital marketing
Digital marketing can provide the edge small businesses need in their fight for survival. As big multinational companies do their multi-million-dollar campaigns that reach thousands upon thousands of people, those same people can often feel insignificant and ignored. Mass marketing media exclude the individual and, their messages and means of delivery are, usually, non-interactive. This is why smaller businesses can focus on and directly respond to every reaction of their customers.
When someone leaves an online review or a comment about them, they can reach out and respond to them in a direct and honest matter. With proper marketing, their PPC gets drastically reduced and, they produce a profitable RoI. Messages that they produce are tailor-made and targeted at a smaller audience which response to such marketing efforts with greater interest. We all want to be part of a group and, when some company offers just that and go out of their way to reach out and communicate, people tend to positively respond to that. Direct digital marketing, continuous feedback and community outreach can make or break a marketing campaign and, small businesses are at their strongest when it comes to this.
6. Customer convenience
Customers want products, services and info now. Instantly, conveniently and whit as little effort as possible. Your website should reflect on this and maximize the opportunity. When potential customers come, they need to quickly see the information so that they can obtain the product/service with as little investment as possible. What separates smaller businesses here is that they can adapt and make exceptions for individual customer requests.
Also, they can accommodate their offer to special one-time requests which can make all the difference in winning a lifetime customer. People don’t forget what you do for them and these, seemingly insignificant, acts of compassion and community outreach go a long way in establishing any brand of small business. The added value in form of effort and costs are outweighed by loyal customers gained. They will share their experience with other people they know. Positive word of mouth recommendation is worth more than gold and can’t be bought. One by one, trust is earned and, long-lasting business interactions are formed as smaller businesses go out of their way to accommodate and maximize customer convenience.
7. Customer care
If you ever went thru a customer call centre for a large international corporation so that you can get something resolved, then you know what horrors are we speaking of here. Many corporations don’t care about their customers past the purchasing phase and can make navigating customer care tunnels and right a living nightmare. As they have a larger and broader customer base and the sheer number of them can be baffling, they cut corners on post-sales support to maximize profits.
And in doing so, they create a perfect opportunity for smaller businesses to step in and shine. A disgruntled customer will rarely repeat his mistake and, a negative review can hurt any business. One by one, they can bring the biggest of corporations to their knees as sales plummet. Smaller businesses, on the other hand, can reach out and establish direct communication with their customers. Past the initial purchase, they can remain in touch.
As they need every sale and their survival depends on loyal customers and positive reviews, customer care should be their centrepiece. Acknowledging their shortcomings and eventual mistakes and reprimanding them go a long way in ensuring that a customer has made the right decision when siding with them.
While all this info may seem too much or overwhelming at first, it is important to note that this is a marathon, not a spring. Persistency trump’s chance and, in the quest for their fair share of the market, everyday small victories are what paves the way towards that. Everybody loves the underdog and, what are better ways to recreate a classic tale of David VS Goliath than in this situation? Small local business VS Global Conglomerates. Making any of the mentioned changes is a step in the right direction. In any case, it’s better than ignoring the situation and stagnation. We wish you all the best in your future endeavours to fulfilling your local customer needs and carve your piece of the market pie. There can be no sweeter victory.