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Small Business Technology: Leveraging the Latest Tools

95% of U.S. small businesses used at least one technology platform in 2023, and effective use of that technology led to growth in sales, employment, and profits. 

However, understanding which platforms to leverage can be daunting. This guide outlines key considerations and features you need in business technology, taking stress and uncertainty out of the equation. Whether you own a coffee shop, dance studio, or dog kennel, investing in these solutions is the key to long-term success.

Key Considerations for Choosing Small Business Technology

The size of your business: Outline your needs for the number of seats available per account, data capacity, and more based on how many employees, locations, and monthly sales you have.

Must-have versus nice-to-have features: Identify and prioritize the features needed to complete business-critical tasks, communicate with customers, prevent stress and anxiety, etc. If there’s room left in your budget, consider extra bonus features.

Unique industry requirements: Your business may have industry-specific needs or requirements. For example, businesses in the pet industry benefit from specialized technology, such as online booking tools, pet report cards, and vaccination reminders.

Total cost of ownership: Software often costs more than the “sticker price.”. Add up expenses like implementation, maintenance, tech support, and fees (e.g., transaction fees). Also, consider the time you’ll spend setting up and maintaining the solution.

Consider the software’s scalability—can it continue to serve your business even as it grows? Scalable tools are typically flexible and customizable, offer integration capabilities, can handle increased data volume, and automate repetitive tasks.

5 Small Business Tech Stack Essentials

Cloud-Based Tools

An estimated 36.2 million Americans are expected to embrace a hybrid or fully remote work environment by 2025, and some small businesses choose to expand into multiple brick-and-mortar locations as they grow. Maintaining efficiency and collaboration among team members scattered across various locations can be challenging. 

This is why it’s so important to choose cloud-based technology. This means that the software is stored and managed through the cloud and can be accessed from any location (as opposed to being stored on a single local device). Data and updates sync immediately across all instances of the software, strengthening remote teams and enabling real-time collaboration. 

Secure Customer Relationship Management (CRM) Software

Cybersecurity is critical for protecting your small business. Let’s say a dog grooming business uses a CRM to store each pet owner’s name, contact information, appointment history, and payment information, but the software is breached. The business could suffer financial losses, reputational damage, and even legal consequences.

Look for CRM systems that offer strong security features such as data encryption, role-based access controls, and multi-factor authentication (MFA) protocols.

Mobile Point-of-Sale Systems

If you’re a makeup artist, food truck owner, DJ, or another business owner who travels, you could benefit from mobile point-of-sale (POS) systems. After all, selling products is a staple of most business models, and a reliable POS makes doing so easy. 

Mobile POS systems enable small businesses to process transactions, manage inventory, and analyze sales data on the go. Select a solution with reliable payment processing and the ability to accept various payment types, such as credit cards and mobile payment methods.

Marketing Tools

Small businesses require well-executed marketing campaigns to stand out from competitors. To do so, Gingr’s guide to marketing recommends selecting software with the following capabilities: 

Customer segmentation
Automated updates and appointment reminders
Customer email marketing templates
SMS marketing tools

These tools allow you to leverage what you know about customers to create personalized communications that remind them of opportunities, notify them of deals, and more. Or, you might note when a customer stops visiting and share tailored communications that inspire them to re-engage with your business.

Scheduling Features

Scheduling can be a headache, especially if you have multiple locations. Streamline scheduling by choosing a tool with features like:

Facility calendars with drag-and-drop capabilities to visualize schedules and availability at a glance.
Color-coding capabilities to differentiate between staff members, appointment types, etc.
Dashboards that provide a bird’s eye view of scheduling information. 
Online booking capabilities that take the burden of scheduling appointments off staff members.

Remember to consider your customers’ booking experiences as well. The software should offer a streamlined, user-friendly interface for customers to book appointments.

Technology can help your small business boost employee retention, improve customer relations, and increase revenue. Before committing to a specific platform, compare options, browse reviews, and use free trials. Then, make an informed decision that empowers you to build a scalable, comprehensive toolkit.