Business Technology in Small Business
Some major tech innovations could transform the landscape of small businesses.
Although you might not be as involved in technology development as large businesses, small business owners can still play a crucial role in your company’s growth and efficiency. In addition, these small business technology trends will be essential in 2021, given how much has changed over the last year.
New infrastructure like 5G will continue to gain momentum across the country. However, other trends such as personalized marketing and software unification can have an impact on small businesses.
Trends in small business technology for 2021
We asked small business owners and tech experts what the essential technology changes would be for small businesses next year. As a result, these are the top 10 tech trends for small businesses in 2021.
Machine learning and artificial intelligence have been hot topics in tech for many years. These technologies will be integrated into more business processes, and small business owners will continue incorporating them into existing processes. This could lead to a variety of implementation scenarios, including voice assistants and personalized customer experiences.
Meredith Schmidt, Salesforce’s executive vice president and general manager of small business and essentials stated that small businesses would adopt artificial intelligence more widely, even though it may sound like something only large companies use.
Businesses can save time by using tech solutions that integrate with AI. Salesforce discovered that 55% of small businesses consider insufficient time a significant challenge. AI has the potential to improve small business operations.
In 2019, 5G technology, the fifth generation of mobile capability, was adopted. It boasts much faster data transmission speeds than the 4G LTE standard. Huawei claims that 5G promises to speed up to 4G LTE with very little latency (delay in data transmission).
This is a significant step towards developing the internet of things, as 5G networks will support interconnected intelligent devices. However, although 5G is being hyped a lot, it’s still very early days.
Comprehensive HR tech
A coronavirus pandemic in 2020 made it more important to have comprehensive human resource software and tech. This will allow small business owners to keep track of their employees’ needs and help them manage their finances. Experts predict that this trend will continue into 2021.
Chief marketing officer at Hibob Rhiannon Staples stated that a lot of the attention on HR tech stems mainly from the shift towards remote work. However, this technology will continue to be of great benefit to small businesses in standard times.
More and more tech solutions are being used in modern workplace communication. For example, slack is used by companies to connect teams, Outlook for sending important documents, Salesforce for managing customers, Basecamp to plan, and Google Drive to store company data, among others.
Roy Mann, CEO of Monday.com and co-founder, said that “connecting software to work together with other software is difficult.” “There will be a breakthrough in integration platforms that will allow the software to have a connection with other applications.
Automation gets more attention.
Although automation has been a popular buzzword in small-business circles for a long time, 2021 may be the year it finally takes its place at the top of the list. Popcart founder and CEO Omri Traub believes that business owners will look at automation in 2021 as a way for them to save money and address their problems.
Traub stated that automation investments would continue increasing because of the continuing shortages in specific domains. For example, online pricing automation is one way to balance profitability with revenue growth. Inventory management systems are another option to make sure that the right amount of inventory is available.
Traub stated that he believes there will soon be a new wave of companies looking to develop these automated solutions. In addition, he said that many companies would use the cloud to provide this service and help increase automation.
Advertising via social media
In 2021, small businesses will continue to use social media advertising. Social media advertising is not just limited to influencers. It also covers other areas like pay-per-click marketing.
Matt Rosenberg, a former Wix.com communications manager and senior media relations manager at Weber Shandwick, stated that social advertising would continue growing as a cost-effective, efficient and effective way to target specific audiences. In addition, in today’s digital world, it is crucial to create distinctive and unique content that engages customers via social media channels.