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Small businesses run big risk in the face of digital economy

Small businesses run big risk in the face of digital economy

January 1, 2018 By James L Leave a Comment

With today’s tech-savvy consumer, it is critical that businesses both small and large embrace technology and make it a priority to invest in the methods customers are looking to use when they shop. A majority of small businesses aren’t taking advantage of technology in the form of websites and social media profiles to reach out to their customer-base. Because of overhead costs and the lack of technological knowledge, it is difficult for the small business owner to place a priority on these avenues, but without implementing some form of online outreach, it will prove increasingly difficult to keep customers satisfied.

Key Takeaways:

  • Small businesses should be aware that technology embracing companies can put them out of business.
  • Small businesses need to incorporate technology to thrive in the current business trend.
  • Technology can improve and build customer relations which will improve small business success.

“Small businesses need to focus on what’s important for their customers in this new digital age, and offer that unique, personalised customer service that the big end of town can’t. If they don’t act now, there is a real risk small businesses will be left behind, Konstas said.”

Read more: https://insidesmallbusiness.com.au/planning-management/small-businesses-run-big-risk-in-the-face-of-digital-economy

Related posts:

  1. How to navigate your business through the age of digital disruption
  2. How to form profitable strategic partnerships using digital marketing and social media.
  3. Keeping pace and unleashing digital enterprise
  4. Seven effective risk management steps businesses should take

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