In the past few years, advancements in AI have made running large corporations and small businesses more accessible. It seems that today, everyone has access to vast amounts of data that create sizeable advantages in the market.
In this article, we will talk about five new tech trends that entrepreneurs and small businesses can leverage for a competitive edge in an accelerating landscape.
Automate Back-Office Tasks
Small and tedious administrative tasks serve as some of the most significant roadblocks for growth. Use the wide arrange of applications and software that can automate those repetitive and mundane aspects of your company.
Making use of software like Taco and other machine learning software, you will save loads of time, energy, and money. They take some effort for initial set-up, but once you have delegated all of these time-consuming tasks, you’ll feel a weight lifted off of your shoulders.
Smart Payment Options
Small businesses should make it as easy as possible for customers to make purchases or subscriptions. Receiving and sending money should be easy. Luckily, many new technologies make it simple to accept payments, even for the smallest of transactions.
Tools like ShinePay.co, are used by landlords and laundromat owners alike to offer users a streamlined payment for washing their clothes. No one likes to deal with quarters in 2019. The best start-ups, services, and small businesses are flexible and offer a variety of payment options.
Gain Valuable Insights
Tools like Google Analytics use algorithms to deliver valuable insights in a digestible and straightforward manner. If you want to stay competitive, use this information to identify and analyze patterns.
This clear visualization of data allows you to make predictions. You can use this information to develop strategies for marketing, finance, and sales.
Programs like Google Analytics and IBM Watson are affordable and easy to navigate. They are essential for any small business owner or entrepreneur.
Personalize Customer Experience
Machine learning can help you to create a more personalized buying experience. If you offer an online experience, you can utilize data to better target your audience.
Think about programs like Netflix and Amazon. When you log on, you’re shown exactly what you want to see. This is because these services make use of machine learning technology.
Virtual Personal Assistants
As we mentioned before, one of the biggest challenges can be wearing all the hats of your business. It is easy to lose track of appointments, calls, and other essential tasks. A virtual assistant is someone real, who can help you with those human and time-consuming duties.
You’ll need to put some work into finding the best VA for you, and you’ll also need to organize all of the tasks that you feel need to be outsourced.
There are many tools such as Upwork, that small businesses and organizations can use to find reliable, loyal, and efficient independent contractors. Hiring on someone like this can save you a lot of money and also boost your productivity significantly.
As we enter the new decade, entrepreneurs and small business professionals must take advantage of the vast array of new technology trends. As AI becomes more advanced and communication between customers and consultants becomes more straightforward and more personalized, the opportunities are endless.