5 Ways Small Businesses / SMB’s Use Technology to Beat Big Competition
Thanks to technology, there has never been a better time to be an SMB! Cloud infrastructure. Cloud software. Remote work as an expectation. Incredible collaboration and virtual meeting tools. So much more.
Let’s explore how smart small businesses / SMB’s are using technology as a competitive advantage.
1 | Cloud-Based Phone Systems (UCaaS / VoIP)
OVERVIEW & PERSPECTIVE
Years ago, if SMB’s wanted the same features on their business phone system as the larger competitors, they had to make a major financial and operational commitment – upfront and recurring – making it a non-starter for most.
The cloud didn’t exist in the mainstream yet, meaning there were big, expensive boxes that had to be installed and maintained over time.
As such, you always knew when you were calling an SMB, as the first impression was almost as if you were calling a neighbor’s home phone.
HOW DOES IT HELP SMB’s WIN?
Today, thanks to cloud computing, the tables have completely turned. With a plethora of Unified Communications as a Service (UCaaS) and Voice over IP (VoIP) systems to choose from, SMB’s go straight to the below benefits, without having to worry about migrating from an old battleship of a phone system.
- Significantly lower cost than PBX, pay by seat
- Same features / user experience as big systems
- Portable & agile (install at home, etc.)
- Zero maintenance, plug-and-play install
- Full integration and reporting capability
2 | Prioritizing Network Experience
OVERVIEW & PERSPECTIVE
The world is one giant network bottleneck right now. How many connected devices do you have in your own home?
With the Internet of Things (IoT), that number will be dramatically going up over the next three to five years. Smart home systems – thermostat, cameras, lighting, etc. – as well as even connected refrigerators, dishwashers and more.
It feels like homes and businesses will need to build on-site cell towers to get the network performance we want for ourselves and our customers.
HOW DOES IT HELP SMB’s WIN?
Smart SMB’s prioritize network experience as a key differentiator against big, slow-to-change competition. Nothing ticks a customer or employee off more than network delays. And, in peak utilization periods, big companies can grind to a halt. Smart SMB’s scale network on-demand and prioritize traffic so important transactions work.
- Deploy SD-WAN to remove bottlenecks
- Procure primary and backup network capacity
- Procure burstible network for usage spikes
- Regularly negotiate carrier contracts for best pricing, explore new capabilities / services
3 | Embracing New Cloud-Based / Online Software (SaaS)
OVERVIEW & PERSPECTIVE
Big companies spend considerable amounts of money to ensure they have “enterprise” software and have procured the “best” brands.
However, just because a brand was the first to bring something to market doesn’t mean it will be the best option for businesses five years later.
By the same token, just because something is more expensive, doesn’t mean that it is the best option for companies of any size. Big companies who “brand buy” open themselves up to agile SMB’s who are willing to meet the new kid in town.
HOW DOES IT HELP SMB’s WIN?
New software challengers enter daily, pushing prices down, changing models and increasing functionality and integration. Also, UX is similar across common-use-case software, reducing learning curves. Smart SMB’s consider new SaaS options for CRM, accounting, website builders, eCommerce, publishing, collaboration and more.
- New providers offer free trials, lower costs
- Similar UX to be “like” incumbent tool/s
- Usually comes with more integration options
- Bundled capabilities for efficiency
- SMB’s can afford to win at the “software” level
4 | Use Technology to Reduce Staffing / Dependency on FTE’s
OVERVIEW & PERSPECTIVE
Employees are a critical part of business success. However, staffing bloat can be the death of a small business as people are expensive, and you pay them whether there is money coming in or not.
COVID shined an intense light on finding the optimal balance between lean staffing and customer experience / satisfaction.
Large companies tend to overstaff, then downsize to correct financials, creating high turnover rates, lack of loyalty and negative brand equity in the marketplace.
HOW DOES IT HELP SMB’s WIN?
Ever use instant messaging on a company website to get answers/support/order? Chances are, you are not engaging with a real person. It’s an AI bot. Smart SMB’s have minimal “data entry” as customers input the data and integrated systems relay it across platforms until the transaction is completed / resolved. People add the smile.
- Cloud contact centers – anyone/where service
- Ordering stations using tablets, etc.
- Integrated systems for fully automated ordering and fulfillment
- Mobile-optimized digital engagement
5 | They Let Technology Consultants Do the Heavy Lifting
OVERVIEW & PERSPECTIVE
Small businesses do not have the luxury of hiring a full-blown IT team and most SMB owners are not tech experts. Even if they are, it is critical to stay focused on the business for maximum success and long-term continuity.
On the other hand, large companies can have armies of I.T. personnel. While this could prove a difficult battle to win, large in-house I.T. teams can be highly inefficient with a tendency to make the “safe” decision that won’t get them fired. Hence the proclivity for enterprise software. Finally, CIO’s turn over every 2 to 3 years, which means change.
HOW DOES IT HELP SMB’s WIN?
Smart SMB’s know their limitations, but still get that technology is critical to their success. Working with consultants like TekEfficient, SMB’s get the best of both worlds: expert IT capabilities with no new FTE’s. There are many additional benefits that make the consulting choice ideal.
- Always up on the latest tech options, pitfalls
- Negotiate the best rates, navigate big providers
- Supplier neutral, choosing what’s best for you
- Relationships with multiple providers for choice
- Handle all of the administrative leg work, pricing / bidding / RFP, etc.
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