If you’ve recently asked yourself this question, you’re not alone. Keeping up with the latest tech is becoming increasingly important for businesses of all sizes. If you own a small business, you may be wondering which updates will actually help your bottom line.
Tech Investment Tips for Small Businesses
You may also be wondering how to pay for the tech that your business needs to thrive and survive. If you want to find the answers to these questions, all you need to do is keep reading.
Funding Business Tech Purchases Can Be Simple
Budget is a primary concern for many small business owners interested in upgrading tech. That’s understandable, but financial worries shouldn’t keep your business from benefiting from the latest tech. If you haven’t already, you could look into a small business credit card, which you can easily use to finance your new tech and maybe even earn rewards in the process. Another smart option is to look for tech that will help drive your profits, such as adding drop shipping services. This can be a perfect second business option that requires minimal startup costs and can offer your customers a plethora of in-demand products. You can choose from a wide range of different products, including cell phone accessories that will complement and enhance the products and services you currently offer to customers. If you’d like to learn more about e-commerce, there are many guides online that offer information on branding, distribution, email marketing, and many other concepts.
Upgrading Your Phone Can Enhance Business Operations
On-the-go small business management is very common, and for good reason. Owners want to stay connected to their businesses wherever they are. However, without the right smartphone, the majority of your efforts can be limited to your desk. That’s why you should consider upgrading your phone to a more recent model to help you stay flexible with management operations. If you’re an Apple fan, you can upgrade to one of their more dynamic models that ensure a longer battery life, as well as include the features your business needs to be successful. The iPhone 11 Pro, for example, comes with a large screen and triple-camera system to help you take professional-quality photos, and you can use the phone for up to 16 hours before needing to recharge it. Android devotees can find similar features with new models like the Huawei P30 Pro, which features a good camera system and can run on its battery for a long time.
Updating Point of Sale Systems Can Boost Business
If you are looking for a simple tech solution to help increase profits, you should look no further than updated retail technology solutions. Point-of-sale systems help form the backbone of any customer-facing business, and the latest systems can enable cashiers to ring up customers and perform returns more efficiently. You can also use checkout systems to monitor inventory levels so you can track and transfer inventory as needed. By streamlining your efforts around inventory management, these POS systems will give you more free time to work on customer service and other improvements that can provide a boost to your bottom line. So, a new POS system for online and conventional checkouts may be one of the smartest tech moves you can make for your business.
Enhancing Data Security Can Save Small Businesses
Think your business is too small to benefit from data security solutions? Statistics show that you and millions of other small business owners need to think again. Even businesses with as few as 10 employees can lose $41,269 to security breaches, and that can be enough to completely break many small businesses. So, to protect your business from the dangers of data breaches and online threats, you should think about investing in updated data security solutions. These solutions can range from hiring experts to secure your business network and existing tech equipment, to investing in enhanced tech training for your employees. To protect this data in the event of a breach, you can also look into cloud storage services that will provide a secure location for information and backups.
Creating a Digital Marketing Plan Can Attract Customers
No article around small business tech solutions is complete without mentioning the importance of digital marketing solutions. With 80 percent of consumers using the internet to find and connect with small businesses, you simply cannot afford to miss out on this update. Developing a comprehensive digital marketing plan also provides you with an unparalleled opportunity to encourage feedback and engagement, which can develop long-term relationships with your target customers. Part of this plan must include social media as well if you truly want to drive customer traffic and compete with other businesses. While you can use free social media options to help boost your business, paying for targeted ads as part of your digital marketing strategy can offer even more ROI for typically minimal costs.
Updated tech isn’t just an option if you want to keep your small business competitive. It’s a necessity, but it doesn’t necessarily have to take away from your bottom line. In fact, if you use the latest tech correctly, you should see an increase in profits for your small business.
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