While the pandemic is still lurking, the situation has certainly improved as compared to the previous two years. Lockdowns are now a thing of the past and small and medium businesses all over are rising from the ashes. This makes 2022 a significant year in terms of economic resurgence.
With technology being a key driver of modern business, it certainly will play a huge role in this resurgence. The emergence of cloud-based solutions has narrowed the productivity & visibility gap between SMEs & large corporations. By using these easily accessible tech tools, your SME can appear to be much bigger to the public, than it actually is.
Which tools are you currently using? Here are the top ones that you should definitely have in your back pocket.
Websites
By now, if your business does not have an online presence, it is pretty outdated. One of the most significant online tools that any small business should possess is a website. Your website is your digital storefront, open 24/7 and always available for your customers when they need to make a purchase or have to seek assistance. It is also the place where your customers will come to learn about your services or your new and upcoming products.
In 2022, customers will be looking for business websites that are more superlative in their navigation and features, as such businesses are more trustworthy. With the continued rise of search engine optimization (SEO) and search engine marketing (SEM), websites will also continue to cement their place as valuable business marketing tools. Each piece of content, type of communication, or advertisement that you put online should lead consumers back to your digital storefront.
Social Media
If your business doesn't have social media accounts, does your business really exist? Not to consumers living in 2022! While a website is the cornerstone of your online presence, it is social media that will place you in front of the largest audiences. Currently, 58.4% of the world uses social media, with a whopping 424 million individuals having created their first social media profiles within the last 12 months. Statisticians expect even more to join social media this year.
Your business's social media gives your brand a voice and helps you to grow a collection of loyal fans, who you can convert into customers. In 2022, social media will offer innumerable ways to reach customers, and it is important to follow new trends to figure out how to leverage them and remain competitive. The social platforms that ALL businesses should be on are Facebook, Instagram, LinkedIn & TikTok. However, the most interesting of all platforms in 2022 will be the "Metaverse". We'll dive deeper into how the Metaverse will impact SMEs in a future blog post.
CRM
Customer relationship management (CRM) softwares typically consists of an integrated suite of cloud applications, including service, marketing, and sales clouds. The data it collects and stores forms the foundation of all sales efforts by assisting to manage customer interactions and leads to an enhanced customer experience.
In 2022, CRM is expected to grow immensely, as more and more businesses realize its importance. This means that all forward-thinking businesses have to keep up with various CRM trends. Currently, mobile CRM is already a hit as the need to accommodate remote workers grows. AI is another huge trend that could prove to be very useful in your CRM systems. AI (Artificial Intelligence) produces advanced analytics, assisting to make you aware of various types of useful data. While this all sounds fancy and expensive, you would be relieved to know that there are tons of FREE CRM platforms available for small businesses. A simple google search can help you find the most suitable solution for your business.
Online Payments
The demand for online, contactless, frictionless, digital, and speedier payments is expected to grow in 2022. With their innovation having been sped up by the pandemic, as people sought ways to continue with their daily transactions without getting close to one another, online payments continue to become more mainstream.
Upstart fintechs in this industry keep getting millions of investor dollars to create quicker, more seamless, and cheaper payment tools. The most adventurous of them are even wading into cryptocurrencies, adding more blaze to the payments industry. Therefore, you can expect consumers to be looking for new ways to pay for your products or services. If you are abreast with all such new payment trends, your business will be at an advantage. Simply put, giving your customers more convienent payment options allows you to collect payment for your products/services quicker & easier. Who doesn't want to get paid quicker!?
Paypal, SunCash, Kanoo, & Island Pay are notable payment options that can easily be integrated into your business. There are lots of other online payment processor in the market, browse the web to find one that works best for you and your customers.
Invoicing/Accounting System
Gone are the days when invoicing and basic reporting used to be a headache for small business owners. Today, free or low-cost cloud-based accounting softwares make it easier to keep the finances of any business in check. This year, such programs will continue evolving to offer more features and functionalities.
Even if your business has complex needs, you can hardly lack a fitting accounting software today. You only need to consider your enterprise or industry's specific needs to find an accounting application that amply fits. However, keep an eye out for software vendors who are vague about their pricing to avoid conflicts later on.
Project Management Tools
The demand for project managers all over the world keeps growing. It is even expected to hit as high as 88 million individuals by 2027. This only proves one thing: project management has a huge role to play in any industry. While it may be uneconomical to hire a full-time project manager, you can realize the benefits they could add to your business using project management tools.
Project management softwares assist small businesses in organizing and managing their projects and tasks effectively. If you need more efficient methods of project planning, team collaboration, project documentation and evaluation, you need a project management software! This year, project management softwares will continue to make businesses more agile and able to employ strategic tactics in all activities. It is important to understand your goals and choose a project management program that fully integrates into your business. Like most of the other solutions in this blog there are FREE project management softwares that can be accessed via a simply google search.
The Takeaway
It takes a lot to succeed in business and the above technological solutions can give you a massive edge. Besides, you could be the only one not taking advantage of them, leaving your business at a disadvantage in the highly competitive business environment.
We are excited about helping small- and medium-sized businesses achieve their peak potential. Our equity funding or loans can help you grow or expand your business or brand. Apply today, if you have an innovative business concept that you are ready to launch or expand.