Jocova Financial | July 24, 2020

Digital Transformation: How to Digitize your Small Business

Digital transformation is everywhere these days. In order to remain quick, relevant and effectively adapt to the ever-changing circumstances, small businesses are shifting their mindset to digitization.

Small businesses are reevaluating the way they operate and serve their customers by embracing digital-first approach. This means, the small businesses that are best positioned for success, will be the ones who invest in technology to create unparalleled accessibility and convenience for the consumer.

Digitization, if done in the right way can help turn any small business into a more customer oriented, high-performing organization.

 

  1. What does it mean to digitize your Business?

Digitization and Digitization are two conceptual terms where digitization refers to converting information from the normal form to bits or bytes (computerized format).

On the other side, digitization of any company or business is something that helps to improve the continuity of business growth with the help of modern technology.

Digitization of business can facilitate a better informational exchange by enhancing quality, reinventing profitable methods and promoting consistency.

In simple words, when you buy a new device and that device immediately contains all your data, that’s digitization.

When you shop online and that particular website or online store saves your billing information and shipping address details to save your time for the next shopping, that’s digitization.

 

  1. 2. Why should you be digitizing your Business?

Now that we know what digitization is, lets uncover why small businesses would want to digitize their operation and what opportunities and benefits exist.

 

  • Increased efficiency

The real purpose of digitization is to run a business that embraces technology and uses digital tactics to adapt and evolve with an ever changing platform efficiently. As businesses grow, it becomes harder to perform the requisite tasks across the whole company.

Fortunately, the best strategy for businesses is to take advantage of technology which provides digital means to improve work efficiency by saving both time and money.

 

  • Improves Productivity

This is a direct result of a digitization towards any sort of small business. If your workforce is able to automate routine tasks with confidence, they can save time and increase productivity.

  • More Profitability

Digitization reduces operational costs that automatically leads towards increasing revenue growth and profit margin.

This is not only a strategy to gain profits but also it helps small businesses to become more efficient and serve their customers better.

 

  1. Use of CRM to Increase Business

If you own a small business, you would definitely want to increase your profit as much as possible all the while keep accurate customer data. By implementing customer relation management (CRM) software to your business, you are able to do this. When you adapt a CRM effectively, you will see your sales increase sometimes up to 30% over no CRM or sales process.

Let’s have a look at the different ways a CRM can be helpful to increase sales for your business.

  • Easy Coordination with your Sales Team

You can run your business smoothly by keeping everyone on the same page. A CRM helps you to share information with your workforce to keep them up-to-date about what is happening in your business. Keeping your work activities streamlined and focused on closing deals and servicing customers.

  • Improves Customer’s Satisfaction

One of the key benefits of using CRM is that you get the knowledge of what your customer wants. A CRM system gives you an opportunity to know the problems your customers are faced with and their feedback regarding the solutions provided by your team.

  • Optimized Marketing for your Business

A CRM provides you with a more directly targeted and cost-efficient marketing plan. It makes it easier to understand customer’s needs which can be helpful to estimate the right time to promote your product or service.

  • Maximized Business Performance

Another important benefit of using a CRM system in maximizing your business performance by providing you’re the right opportunities for up-selling and cross-selling. This is a great way to earn customer’s loyalty by understanding their patterns of purchase through their previous shopping experiences and interests.

Recommend CRM:

MS Dynamics 365

Hubspot

Salesforce

Zoho

 

  1. Operate in the Cloud all access

Cloud computing is no doubt a significant transformation irrespective of type, location and size of the company. Cloud computing has increased the pace of business by minimizing human-intensive work environments and maximizing overall business growth.

There are many benefits of using a cloud computing system and you can read about the most important ones below:

  • Cloud Computing Saves you Money

Using cloud platforms naturally reduces the cost of the maintenance and management of IT systems. It also helps to reduce operating costs of system upgrades and the other purchases of software, hardware etc.

  • User-Friendly

Cloud computing is user friendly and cost less than the traditional yet expensive in-house systems. Being a virtual platform, it gives an advantage of choosing resources according to the requirements, streamlined communication and off-site data storage facility.

  • Flexible Virtual Office

Cloud users can easily access their important data wherever they want. As the system stores data online and the whole process is done over the network, your physical presence would not be a matter of concern for your company; remote work.

  • Effective Collaboration

Cloud computing provides an effective and improved collaboration by letting people meet virtually and the exchange of information via shared file storage. This facility definitely reduces time and values product development and customer service.

Trello

Dropbox

OneDrive

 

  1. Marketing Automation

Marketing automation is an umbrella term that gives your task force a framework to work within and make them able to increase operational efficiency and grow revenue faster. Marketing automation is basically a digital tool to automate your email campaigns and saves you time by simplifying the process of finding suitable customers and subscribers and sending them emails individually.

In fact, you set up a target audience map, define your campaigns key points and content and let the marketing automation do the rest.

Active Campaign

Mailchimp

Drip

 

  1. Stay Connected; Virtual meetings, instant messaging

Off-site meetings can take up large amounts of time from your workday and be disruptive. Why not take advantage of technology and go for virtual meetings? Virtual meeting allows the team to exchange information and data with a shared file system & video links without being available physically at the same place.

MS Teams

Zoom

Tuple

Slack

Bottom Line

To maintain your competitive advantage today and in the future, it is a necessity to take efforts to digitize your small business and automate redundant tasks such as accounting, customer service and support, billing, marketing, quoting, and more. With doing this, your business will become more efficient, streamlined, and able to service your customers in better and more ways.

 

Business Tip:

To outfit your office with required furniture, boardroom, desk, chairs, computers, laptops and servers, use equipment financing or equipment leasing to cash flow the expenditures.

Organize and Manage All Your Small Business Financing and Insurance Products from any Company All in One Simple Place. Apply for New Financing Products and Services. All for Free. – Transactwell.com

 

Consumer Programs Manufacturer Programs Dealer Programs