Tech Tools That Can Increase the Market Share for Small Businesses
A company’s market share is the total sales it makes compared to the overall sales made by other businesses within its industry. To increase your business’s market share, you must be innovative, and you must seek ways to strengthen your existing customer relationships.
Usually, businesses that take advantage of digital tools have better revenue growth rates. There are various technology tools that can help increase your customer base and help you retain more customers. And besides improving your customer relationships, technology tools can help simplify your business activities and streamline your operations, saving you money, energy, and time. Here are some of such tools to consider acquiring for your enterprise.
- A Functional Website
Every business in this age and time needs a functional website. Having this tech tool at your disposal will allow you to provide critical information about your business, such as your opening hours, prices, product ranges, and service offerings, to your customers. Also, you can use your small business website as a hub to run ad campaigns on search engines and social media platforms, increasing your visibility and credibility among competitors.
Before developing a website, it’s best to determine its primary purpose. You may want a website that provides general information about your enterprise or one that serves as an e-commerce platform. Whatever the case, ensure that your site explicitly says what your company does so your customers don’t have to root about to discover what you can do.
Other crucial factors to consider when developing your company’s website are your domain name and website host, which is a server that stores all your data for access. If you want to offer an option for your customers to pay online, you should consider setting up an electronic payment system that is integrated with your website. Since many web hosts offer in-house integration with e-commerce programs, it’s best to research thoroughly to find a solution that can meet your current and future business needs.
- Mobile Application
Contrary to what many small business owners think, mobile applications are not solely for big, well-known brands. If you want to have an effective mobile strategy for marketing your enterprise, consider building a mobile app. This can set you ahead of the game and take your digital marketing strategy to the next level by increasing your visibility to customers at all times.
A well-designed mobile application can serve many functions, such as providing general information about your business, booking forms, user accounts, news feeds, and search features. It can also help you offer more value to your customers, build brand recognition, and cultivate customer loyalty. When building your app, you should pay attention to your UI/UX design, size and screen density, backend, and mobile analytics. You can outsource your mobile app development to a custom programming services provider or develop it in-house if you have the expertise and resources for it.
- CRM (Customer Relationship Management) Tool
Customers play a significant role in the success of every business. That’s why enterprises invest their finances and efforts into generating new leads and converting them into paying customers. As a small business owner, you may not have so much money to pump into numerous ad campaigns. But you can invest in a customer relationship management tool that can help you manage your relationships with existing clients and potential leads.
CRM tools help store customer data, such as their purchase records, how long they’ve been patronizing your business, user behavior, and notes on sales interactions. With such software, you’ll be able to improve customer experience and satisfaction by organizing your customer interactions in a central place. This can lead to improved sales, better customer retention, and more detailed analytics. When acquiring CRM software, learn about its functionality from the vendor. This will help you figure out whether the tool aligns with your immediate and long-term business needs. You can ask a prospective vendor to provide a customized demo that suits your company’s needs so you can get a clearer picture of their offerings.
- Project Management Tool
Consider acquiring project management software for your company to improve your planning and scheduling processes. Whether you’re working in an office or remotely, project management software can help you track project success, allocate resources, and stay on schedule. If you want to integrate a project management tool into your business, you’ll need to outline your internal processes and workflows. That way, you’ll be able to identify inefficiencies and other challenges within your organization that need to be improved.