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Using digital technology to accelerate business growth

All businesses are now operating in an era where having a strong digital presence is essential, not only for economic success but for survival, too. The lack of an effective digital presence is a contributing factor to the failure of many small businesses, half of which now fail within their first five years of existence. With limited marketing budgets, SMEs need to be wise about utilising digital technologies for maximum impact.

What is 'digital technology'?

‘Digital technology’ is a broad term: nearly everything today has at least some reliance on computers in one way or another. The definition includes all electronic tools, automatic systems, technological devices, and resources that generate or store information. 

It is essential nowadays that businesses take advantage of the technological advances that are out there. Those businesses that neglect to implement the technological tools available to them will struggle as they lose any competitive edge, which leads to lowered customer expectations and dwindling profits as people choose to spend their money elsewhere. According to Forbes magazine, 55% of companies without the correct technology to implement a digital transformation believe they would lose market share in less than one year. 

 

How can technology enhance your business?

  1. Easily adapt to new ways of working

A big part of digital technology, and something we have all experienced first-hand over the pandemic, are cloud-based software systems. Due to the crisis, and ongoing remote working, many businesses have turned to cloud systems to enable staff to work from home easily and securely. Systems can include data storage, servers, and virtual workspaces. 

Bespoke software, designed especially for your business means that you can mitigate against security risks, and it gives you the ability to restore data if something goes wrong. Knowing your data is safe and secure gives many business owners peace of mind. 

 

  1. Gain visibility online & reach more customers 

An effective company website is the starting point of your technology-based marketing. According to Pixolabo, less than two-thirds (64%) of small businesses have a website. Not only are these businesses limiting chances of brand awareness, but they may also be losing out on potential customers. 

When you have a well-functioning, well-optimised website, you put yourself in the best position to reach the top of search engine rankings. Great rankings, in turn, should increase your website traffic and your chance of gaining new leads.  

If you are a business that sells products, you also gain many benefits over a traditional bricks and mortar shop. An eCommerce website enables you to be open 24 hours a day, seven days a week, without much extra cost to you as a business owner. Not only that, but you will now be able to reach customers on a global scale, as the internet is accessible worldwide. 

 

  1. Save staff time and money 

There are many ways business owners can avoid feeling overwhelmed, and one of those is through the integration of labour-saving software solutions. Software has created vastly streamlined systems that benefit every member of the team, and software can be developed to meet a variety of business needs, especially when built bespoke.

Employees often have a busy schedule, so it’s a good idea to figure out how to simplify the tasks they need to complete. Time tracking software allows employees to complete timesheets quickly and easily. This software makes things simpler for employees, and enables managers and other supervisors to easily access and analyse the timesheets. 

 

Is your business based in South Yorkshire?

Get £5,000 towards your next digital project!

The Digital Innovation Grant programme supports Small and Medium-sized enterprises in South Yorkshire to develop their use of digital technology. Digital grant funding will be available for up to 50% of the value of a digital project investment, with a minimum award of £1,000 and up to a maximum of £5,000. 

The funding can be used for projects such as:

-           Online system development

-           Cloud software development

-           Website (including eCommerce) design and development

Your business could be eligible for the next round of funding in November – get in touch with a member of our team today to find out more.