Millions of small businesses across the country leverage technology on a daily basis. In fact, technology is now an inseparable part of business operations, with almost every workflow in a company — small and large businesses alike — utilizing technology in one way or another. A business’s reliance on technology is not without its risks and issues, but the benefits far outweigh those risks.
Some tech trends are interesting to follow, especially when you are a small business owner. Technology used in the right way can help you be more competitive against larger corporations. Leveraging the latest technology trends is a must as the market becomes more saturated, and these are the tech trends you cannot afford to miss.
Micro-Influencers
Influencer marketing changed digital marketing with just how effective it is in expanding a company’s reach, but the instrument is transforming into something that every small business can use today. Instead of requiring a big budget and influencers with millions of followers, influencer marketing now centers around micro-influencers.
Micro-influencers are influencers with 10,000 or fewer followers. They are seen as more effective compared to large influencers (with > 10,000 followers) due to the higher engagement rate they offer. Micro-influencers interact with their audience more frequently, hence the higher effectiveness level when it comes to running digital marketing campaigns.
Micro-influencers are also friendlier to small businesses. You can, for instance, involve micro-influencers in your product development process. Listen to their input and get them involved in telling stories about how your product is developed. You can build genuine relationships with micro-influencers and their viewers this way.
Automation
Another huge tech trend you cannot afford to miss is automation. Automation is no longer the domain of large corporations with plenty of resources. It is now just as accessible whether you are a home business or a medium enterprise operating out of a virtual office.
Automation is key to sustainable business growth. Automating mundane, repetitive tasks is how you scale your home business up without expanding the team or investing heavily in new resources. You don’t have to expand your home office or recruit new team members immediately; you just need to automate certain tasks.
Repetitive tasks are the easiest to automate. You simply define a set of routines for the automation tool to follow and you are all set. Today, however, automation extends beyond just repetitive tasks. Using simple building blocks, you can automate complex tasks, create algorithms, and even integrate AI into the automated processes.
Speaking about AI….
AI as a Service
Artificial Intelligence, or AI, is another big tech that causes a lot of disruptions in the market. AI is no longer a complex technology to implement; it is available as a service just like other business solutions. Data platforms, pre-built AI models, and even tools designed to help you develop your own AI models are widely available for small fees.
AI as a service eliminates the huge entry barrier to the world of machine learning and artificial intelligence. You don’t have to invest in multiple NVIDIA GPUs or a dedicated AI server to begin developing your own AI. All you need is a cloud service that suits your specific requirements and you are all set.
A good example is how chat bots are so easy to integrate right now. With the help of an API or an SDK, you too can add a customized, fully trained chat bot to your app or website. You can teach the chat bot to respond to customers in a certain way, develop its linguistic style, and integrate it into your customer service workflow within a few days.
Remote Working
Office space is always a challenge for home business owners who need to expand their operations. You cannot operate out of a home office when you have a large team, but moving to a dedicated office space introduces cost that you are not always ready to absorb. The dilemma is solved by better, more streamlined remote working.
Technologies like better cloud computing and 5G connectivity are coming to the business world in the near future, and they are ready to reshape how we work remotely. 5G with its low latency will certainly improve video conferencing and file sharing, so collaborating on a document or running remote meetings will be a lot easier once the network is widely available.
There are even tools that offer the resources you need to work remotely. Collaborative platforms like Gsuite, Lark, and Trello are designed to make working with remote team members easier. Better remote working leads to another huge trend to leverage as a home business, which is….
Global Talent
Since you are no longer limited to the talent available near your home office, you can now fully benefit from experts, specialists, and skilled workers from different parts of the world. Multiple studies have shown that companies in the country are recruiting more talent from Europe and Asia in 2019; an increase of up to 40% in some industries.
Global talent certainly helps small businesses be more competitive. You are benefiting from expertise of millions of potential candidates without the usually high overhead costs of hiring internationally. Since team members can work remotely, you can also keep the entire operations of your home business lean and efficient.
Don’t forget that there are millions of part-time workers that can be hired for projects and smaller tasks. This too add a dimension to sustainable growth of the company. You don’t have to hire fulltime workers if you only need to deal with small spikes in demand or short projects that are crucial to the future of the company.
More Hiring Tools
Sticking with human resources, we also have more HR management tools being offered as a service, including platforms like publicrecordsreviews.com that are ready to help you simplify background checks. This site in particular gives you access to a lot of data points about potential candidates, including court records and county records, so if you have the candidate’s consent you can review their records and check that they’re the right person for the job.
Other HR tools use AI to screen candidates. There are chat bots that can be trained to conduct online interviews without appearing like a robot. When you are growing rapidly and you need to hire a lot of talent at the same time, the right HR tools can also help you target potential candidates effectively instead of screening hundreds of unsuitable ones.
Hiring tools are now designed to collect data and insights. Candidates that don’t match a particular position aren’t forgotten or neglected immediately. They can still be a potential for other roles, and today’s top HR tools will automatically make the recommendation as needed. You stand a greater chance of hiring the best talent today.
Social Media Marketing
Social media marketing is not a new digital marketing instrument, but it is about to become more prominent and effective as more small businesses turn to the instrument for marketing purposes. Social media gives your brand a chance to interact with customers — and viewers in general — directly; the opportunities to seize are indeed too good to miss.
Social media marketing, when used correctly, allows your home business to have a personal relationship with your customers and audience base. Instead of promoting products, you deliver value. Instead of advertising promotional offers, you keep the audience interested with valuable content.
Social media marketing is also affordable. Even when you use social media ads to gain traction early in the game, you will not be putting too much stress on your marketing budget. With just $20, you can connect with thousands of potential followers (and customers) on Instagram and other social media platforms. You just need the right content to convert.
Video Content
Last but certainly not least, we have the rise of video content. Videos are not only becoming more accessible, but also more enjoyable to consume as content. You can deliver better key messages in a pleasant and effective way when you use video as your delivery method. Fortunately, the technology behind video content is also more accessible.
A mirrorless camera is a fantastic investment for your home business. You can start producing video content and build your audience base with a camera and a good microphone. Once you have a good content production workflow, you can begin boosting your production value by investing in lighting, set, and other components.
Of course, platforms like YouTube and Instagram make sharing video content easier, which means you can now reach more audience segments with this type of content. Tools and apps that simplify video content production complete the set and make video content a tech trend that you cannot afford to ignore.
Other technology trends are also interesting to follow. Things like the freelance economy, AI-powered customer support, marketing automation, and better data analysis are also empowering small and home businesses in today’s competitive market. These technologies, when used to improve business processes, can really take your home business to a whole new level.
All that is left to do now is choose the technology trends to utilize. The trends we covered in this article are the ones you need to pay attention to if you are just getting started. They are the most accessible and have the most impact on your home business.
