Digitization is already here. All businesses from small companies comprised of one employee working out of his/her basement to multi-nationals balancing millions in revenue must make digital innovation part of their current strategy. Innovation does not discriminate companies based on size or revenue. The adage “innovate or die” has proven true especially in retail. Those that have failed to adapt have died. On the other hand, brands that have embraced innovation continue to thrive.
Small businesses, in particular, have been the greatest benefactors of digital transformation. This is why they ought to be at the forefront prioritizing innovation and taking the dreaded leap into digital. Small business that can figure out how to take advantage of e-commerce websites, CRM software and marketing automation can outpace competitors regardless of size. Here is how small businesses can not only survive the tectonic shift in the retail industry but also win amid cutthroat competition.
Form strategic relationships with tech partners
Small retailers should form strategic partnerships with trusted technology firms in a bid to nurture innovations. Large successful retail outlets like Walmart, for example, have formed partnerships with the innovative tech company Jet.com and developed smart cart, which determines discounts on add-on goods based on incremental costs. Co-innovation partnerships between retailers and trusted technological experts allow innovations that ramp up their capabilities ushering them into the future.
Personalize the customer experience
Customers want to feel unique, so personalization has become a gold standard in retail. E-commerce websites can anticipate the needs and want of their customers by leveraging predictive analytics to create customized experiences. By using technology to track customer behavior, analyze purchase history and market trends, small businesses can give customers exactly what they need which means growth in sales.
Use e-commerce Platforms that support a seamless experience
Today’s customers comprise mostly of tech-savvy millennials who demand a smooth shopping experience. The customer behavior of today calls for an integrated shopping experience that is seamless from purchase to delivery and returns across all platforms physical and online. Businesses need to unify the in-store, online and mobile experiences into a unified system that focuses on excellent customer experience. Such businesses are most likely to come out on top.
Small businesses do not have to embrace every new technological innovation to stay ahead of the competition. They have to figure out the right technical pursuits and the right time to pursue them. They are well placed to identify solutions on the horizon and exploit them effectively.
E-COMMERCE WEBSITES DEVELOPMENT IS FRIEND TO SMALL BUSINESS | https://t.co/c4UQwmqxDV
— Merak Infoway (@merakinfoway2) 18 de diciembre de 2017