What Should Small Businesses Do About Digital Transformation?

What Should Small Businesses Do About Digital Transformation?

2021-10-11 22:29:35

The word "transformation" brings up ideas of instantaneous transformation. The speed of small business digital transformation hasn't exactly kept up. It has evolved at a much slower rate.

That worked for many organizations until earlier this year, when a worldwide epidemic rocked the world, altering business and consumer behavior patterns almost quickly.

If your company is still catching up, now is the time to start or speed up your digitization efforts.

Need internet for you business? Call us at 1-888-317-7540 or look for internet service provider near you

Because there are so many components: marketing, sales, customer experience, and loyalty, raising funds, attracting and maintaining people, sourcing, expanding worldwide, and more, it can be overwhelming. On the bright side, you'll have more time to focus on business and growth initiatives once you've gone digital.

The impact of the coronavirus on the digitalization process cannot be overlooked. Most customers have applications on their phones for restaurants and businesses with which they do business frequently, allowing them to order ahead of time and arrange for curbside pickup. That's all part of the digital lifestyle's normality.

What You Should Know About Starting an Internet Business
Ways to Maintain and Grow Your Business During a Pandemic

Virtual trade events are becoming more popular

May businesses have taken traditional trade shows and transformed them into 21st-century versions, recognizing the necessity to digitize. Because of the coronavirus, numerous trade shows and exhibitions have been canceled. To fill the void, Alibaba.com launched Alibaba.com Online Trade Shows USA, which are multi-day virtual events that bring together U.S. manufacturers and wholesalers with business customers in real-time.

Don't worry if you think your small firm is too tiny to successfully shift digitally.

E-commerce is becoming more popular

Despite the pandemic, e-commerce revenues are increasing, according to numerous surveys and research. According to data from the United States Census Bureau, online sales increased by 31.8 percent in Q2 2020 compared to Q1 sales and by 44.5 percent compared to Q2 2019. Total online sales in the second quarter were $211.5 billion, or 16.1 percent of total retail sales, up from 10.8 percent in the second quarter of 2019.

And, as we reported a few weeks ago, eMarketer revised its 2021 retail sales projection, predicting that online sales will rise 18 percent to $710 billion this year.

What is Dropshipping And How Does it Work?

The future of marketing is digital

Another area where digitization has taken root is marketing. After all, Facebook is just a digitalized version of word-of-mouth marketing. We all know how powerful email marketing is for small businesses, with an average return on investment of 4200 percent, or $42 for every $1 spent. HubSpot, Constant Contact, AWeber, and Mailchimp are just a few of the email marketing businesses that may help you automate the email process.

For some businesses, the ideal method to digitize is to work remotely. If you're a retailer, you should have built a powerful e-commerce platform to offset lost in-store revenues by this point in the COVID-19 epidemic. It's also a good moment to decide whether you should permanently convert your physical store to an online one.

Wallets are being digital

Because many consumers went digital before businesses, consumers now have higher expectations of firms. Digital payments are one area that people are increasingly adopting. While many businesses were already moving in the direction of contactless payment choices, COVID-19 gave it a big boost.

Consumers and employees are wary about handing over money or even a credit card to strangers. Customers can pay securely using their phones or credit cards thanks to contactless payment systems. Stripe, PayPal, Square, Apple Pay,and Google Pay are just a few of the contactless payment systems available.

Related Posts

Business Internet  Guides for Entrepreneurs

Mon, Apr 20, 2020 11:13 PM

Business Internet  Guides for Entrepreneurs

Small businesses need to grow, but how big should your business become before you buy it online? Whether you started out as a sideshow or a brick-and-mortar business, successful small businesses are finding it increasingly difficult to decide when to shell out money for an Internet business.

Find Verizon Internet for Business Near You!

Wed, Apr 22, 2020 11:34 PM

Find Verizon Internet for Business Near You!

Verizon provides Internet for business in more than 40 states in the US, speeds are limited to 15 Mbps, and many businesses will need more juice. If you're in the Northeast, you can enjoy high-speed Internet via Verizon's FiOS. This is ideal for businesses that need high speeds, such as restaurants, hotels, medical facilities, hospitals, schools, and other businesses.

5 Best Small Business Internet Service Providers

Thu, Apr 23, 2020 12:00 AM

5 Best Small Business Internet Service Providers

The following Internet Service Providers are not listed in any particular order, but we have ranked these five companies as worthwhile due to some key factors such as speed, reliability, cost, and overall customer satisfaction.

Why Business Internet is More Expensive Than Residential Internet

Thu, Apr 23, 2020 11:52 PM

Why Business Internet is More Expensive Than Residential Internet

This question is asked so often today that it seems worth explaining, but here are 5 reasons why business Internet is more expensive than Residential Internet packages.

Comcast Internet For Business: Internet, Phone, TV, and Other Solutions for your Business.

Fri, Apr 24, 2020 5:17 AM

Comcast Internet For Business: Internet, Phone, TV, and Other Solutions for your Business.

Comcast Business is US largest cable provider for small and medium-sized businesses and has become a force in the market, recognized by leading industry over the past two years as one of the fastest-growing providers of high-speed broadband to business customers