Tech Trends That Will Change the Future of Small Business

Cloud computing and cell phones started 10 years ago. Most people, especially business owners, can’t imagine a world without these technologies. Tech trends have changed quickly in the past few years.

Despite the fact that using their digital resources would improve their operations, 80% of U.S. small enterprises don’t.

Small business owners may be hesitant to accept new technologies due to the assumption that their organization is too unique to profit from digital tools like social networking or live chat, the perceived high expense of doing so, or a general lack of understanding of the technology.

These assumptions are far from reality. COVID-19’s proliferation of new technology startups has changed the scene for large and small businesses and their customers. Without cutting-edge technology, many companies failed to survive the pandemic.

People have adjusted to the new normal, therefore some things may never return to pre-outbreak.

Here are some small business technology trends to watch as businesses worldwide adjust, or drop down to our blog

1. Artificial intelligence

AI and machine learning have long been debated. Artificial intelligence (AI) allows a machine to learn from its mistakes and replicate human intelligence. Thus, it can make decisions, resolve difficulties, and improve customer service.

AI lets small enterprises customize client interactions. AI analyses user comments and adjusts Smith.ai’s live chat software. Thus, live employees can better serve individual clients.

AI will govern 95% of customer experience by 2025. Corporate technology may adopt this. Business leaders who use AI now will benefit from its growing importance.

2. Advertising and social media influencers

Digital marketing expenses will rise 25% across all industries. Companies must now identify and manage their brands online. Social media offers many ways to reach your target audience.

Influencer marketing can benefit SMEs, even though many are on social media. Instead of CPC or corporate profiles, promote your mixer grinder brand with target audience influencers.

80% of consumers have bought a product recommended by an influencer, and 49% say social media influencers help them pick what to buy.

3. RPA

Automated systems follow patterns and rules to conduct routine tasks without human intervention. Automated responses include appointment confirmation emails and texts.

Data input automation can save small businesses time and money. Salesforce found that 55% of small businesses lack time. Automation frees up time for revenue-generating tasks.

Automating online pricing to balance profitability and sales growth and using inventory management systems to maintain the right stock are some examples.

Marketers will automate 68% by 2022. Keeping up with automation demand may drive a new generation of entrepreneurs to try to commercialize ideas like these. Marketing automation software will exceed $25 billion by 2023.

4. Internet video communication and conferencing

Most small businesses offer a more personalized customer experience to compete. Since there was no central hub for operations or employee interaction, small enterprises had to adapt to survive the epidemic.

Thus, novel methods are needed to engage customers and personnel. Webinars and other internet conferencing increased professionalism.

Another workplace video app is Loom. This strategy saves workers time and energy compared to lengthy emails or pointless meetings. It’s sweet.

Cyber-security is growing more important as firms move their operations and data online and into the cloud. 60% of SMB owners don’t think they’ll be hacked, even though 61% have been.

Cyber-attacks can cost your organization money and reputation if your and your customer’s data is leaked. Due to organizations’ growing need for cyber insurance, the industry is expected to reach $14.8B by 2025.

6. Complete HR software

In a fast-changing world, companies must decentralize, adopt a virtual workplace, and figure out how to assist their employees.

Small organizations need HR management systems to track remote workers and their needs.

Thus, cloud-based tools for project management, payroll, workforce analysis, employee engagement, and perk administration are essential.

7. Cloud and software integration

Software integration involves merging multiple programs. This speeds up data entry, decreases errors, and saves money over human operations.

A software integration solution helps your company’s multiple programs work together. You want your systems to update customer contact information when you update one.

Small companies using current tech apps will need software integration. 64% of firms aim to use cloud services exclusively by 2026.

8. Remote-starting gear

As more people work remotely and more companies adopt this approach, remote onboarding will increasingly use technology. “Onboarding” new hires is vital.

If they have a bad onboarding experience, 64% of new hires will quit within a year. Remote employers should be aware of these challenges.

Technology helps companies plan and execute the onboarding process, making new hires feel at home.

9. Live chat and marketing based on conversations

The B2B space will be dominated by chatbots and other activities that use conversational marketing to find and nurture leads.

People want to talk to real people who can answer their questions or solve their problems right away. In fact, 90% of customers expect an “immediate” answer to their support questions in 10 minutes or less.

No one likes to send an email to a salesperson and then have to wait a week for a reply. Businesses are looking for ways to make the sales funnel process go more smoothly by combining live web chat, SMS, and social media messaging so that they can give people the quick answers they want.

The global market for chatbots is expected to be worth about $1.25B by 2025.