For small business owners and prospective entrepreneurs, the right investments can make it easier to communicate with customers, track assets and inventory, and work more productively.
Although it can be difficult to know where to start, choosing the right software and online resources can help grow your business regardless of its current size. If you’re interested in saving time and money while growing your business, read on to find out what digital investments will offer the highest return for your business.
Asset tracking software
Investing in an asset tracking software can save your business money in the long-term. The ability to access the right information about your assets at any time makes working more efficient.
Asset tracking software can be accessed online or through a mobile app and offers a user-friendly interface that makes it easy to work from anywhere. In other words, everyone on your team will be able to access information about assets on-demand from any device.
Asset tracking software also frequently offers unlimited fields and configurability to keep up with the changing needs and demands of expanding businesses. The asset tracking platform can help businesses of any size meet their goals or solve problems. Simple integration with legacy systems also allows businesses to import data from existing spreadsheets and create customizable reports.
Direct mail campaigns
If you’re looking to expand your current customer base, there are companies that can help you create a direct mail campaign online.
Since it can be difficult to design the perfect postcard or letter, these companies help businesses optimize mail pieces to increase open and response rates. Professional designers create the perfect postcards or letters to make your mail stand out from competitors and help your business save time and money by ensuring each piece of mail arrives at a current address.
Your business will also be provided with extensive consumer and business databases to create targeted direct mailing lists, so you can drive in new customers and maximize your customer base. Identifying the right audience and your business’ best customers can further increase the success of your marketing strategy.
Chatbots and social media
Chatbots are gaining popularity among younger crowds, with 60 percent of millennials having interacted with a chatbot at least once. Out of the 60 percent who have interacted with chatbots, 70 percent report satisfaction with their interaction.
The chatbot market is expected to continue growing and is projected to reach $1.23 billion by 2025. Natural language processing and voice assistants have allowed chatbots to provide quick responses to customer inquiries, boosting customer satisfaction rates.
In addition to chatbots, social media has further prompted an increase in customer satisfaction. Today, 84 percent of small businesses use at least one social media platform, while 80 percent use digital technology, such as messaging apps, to facilitate customer interactions. With the growth of artificial intelligence and machine learning technology, more and more customers are beginning to expect a personalized experience.
Integrating social media and chatbots into your customer service model can help increase customer satisfaction by making it more convenient for customers to interact with your business. Listing information about your business on social media, such as contact information and services offered, can also help to drive in new business.
Small businesses must make wise investments in order to grow successful and gain an edge over competitors. When making investments, businesses should consider their return with regards to customer satisfaction, increased productivity, and overall profit.