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Key Takeaways When evaluating digital tools, small business owners can start by organizing their priorities around three goals: efficiency, reach and customer engagement.
Digital tools can help small business owners improve the customer experience at every touchpoint. And built-in analytics help owners understand what resonates and adjust spending in real time.
Build a culture of innovation. Rather than adopting tools reactively, a digital road map can help owners take a more intentional approach.
The United States has over 36 million small businesses, and most owners will tell you the work is not easy, but it is fulfilling. Small businesses contribute to 43.5% of the U.S. GDP and employ more than 62 million people, according to the Small Business Administration. Yet these owners face a persistent challenge: pressure to grow with limited resources to do so.
While larger companies can more easily invest in operational systems for accounting, HR, IT and marketing, small businesses often rely on lean teams to manage operations, reach customers, balance the books and strategize for the future.
Technology is changing what is possible for small businesses. Bank of America Institute data shows small businesses have increased their spending on tech services, including artificial intelligence tools. That said, spending more does not always mean spending better, and the challenge lies in identifying which tools will drive growth and then putting them to good use.
Here are three strategies small business owners can use to do exactly that.
1. Prioritize efficiency, reach and engagement
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