4 Steps to future-proof your small business by Digital Transformation
The digital transformation of the UK economy is like a well greased train that cannot be stopped. Therefore, for businesses to succeed in today’s economic system, they have to undergo the same digital transformation that will make them future proof for tomorrow’s digital age.
Even if your business is not one of the first adapters, investing in digital technology will not only help you level the playing field, it can even give you the competitive advantage.
Here are 5 steps you can follow to future proof your small business.
Invest in the right technology
To compete favourably in today’s digital world, your small business has to have the right tools and resources that would help it keep up and even outpace the competition. Just as it doesn’t make sense to operate the internet using a dialup system, it also doesn’t sense to use obsolete technologies to power your small business. For instance, a lot of businesses are moving their storage outside their premises and using secure outside data centres. Such an investment will not only provide better security for your business, but will also help you stay online for longer, something an in-house system will not be able to do.
Embrace emerging technologies
There are new technologies coming out on a daily basis, all of them geared towards helping businesses get more productive. Part of your future-proof process is to identify the technology that can help your business and quickly adapt it. For instance, AI and chat bots are increasing being used across almost every business sector and industry. In fact, businesses that use AI for their customer services experience tremendous growth as a result. You should consider using them also to provide engaging services to your customers. Don’t forget that virtual reality (VR) and augmented reality (AR) can also have a place in your business.
A huge number of startups that went on to become successful in their industry made use of mobile technology at the core of their products. Take Uber and Spotify for example, these two companies leveraged the power of mobile devices respectively to reach the mobile population of today. Because people spend a lot more time on the go, and use their mobile devices to access information, crafting your business around mobile technology will give you a huge share of the market. There is very little room to deny the power and influence a mobile app has.
Connect across multiple platforms
UK’s digitally transformed society is a society that places emphasis on information. This is information that goes outside the confines of mainstream media. Social media, as a part of digital marketing, has practically taken over the way we communicate so it makes sense to have a heavy social media presence if you want to position yourself well for the future. As a matter of fact, your social media presence should cut across all the major available platforms. Not only can you use this medium to meet and engage your customers, you can also use it to drive your brand awareness. More and more businesses are realizing the power of social media, internet of things and visual content and so you should also.