The rapid expansion of technology has benefited businesses of all sizes by making it easier for companies to launch, grow and operate successfully. New technology is continuously emerging, forcing businesses to adapt to a new method of operating or be left behind in the competitive industry. Small businesses, in particular, benefit from utilizing the latest technology to run efficiently. Here are five emerging technologies for small businesses to start using in 2019.
Social Media Advertising
Many companies recognize that social media is a powerful marketing tool, but advertising on various platforms with influencers is a new trend. Social media influencers are valuable advertising tools that reach beyond your target audience to generate new business consistently. When used in coordination with other forms of social media marketing, such as pay-per-click advertising, influencers on various platforms are incredibly beneficial for small companies. Each new social media platform that emerges serves as a smart business technology that can be used to grow your company.
Many small business owners do not invest in cybersecurity because they assume hackers will target large corporations. However, statistics show that cyber attacks target SMBs 58% of the time. Emerging technology in 2019 will put a stronger emphasis on cybersecurity and make comprehensive protection readily available for companies of all sizes. This tighter security encompasses all platforms used by businesses, while outdated technology requires multiple layers of protection for different platforms.
The emergence of artificial intelligence has revolutionized the way businesses interact with there clients, but the same technology in 2019 will be used to help companies run more smoothly and efficiently. According to a poll conducted by Salesforce, up to 55% of SMBs report that time management is their most significant challenge. Valuable time is taken up by important but slow tasks such as data entry and maintenance. New technology allowing AI systems to complete these tasks automatically will increase the amount of time small business employees have to work on other tasks. By reducing the amount of manual work required for your business to run effectively, AI has the potential to help your company run more efficiently and boost your profits.
When 1G technology first emerged in the 1980s, it was an incredible technological breakthrough. Speeds have increased tremendously since then, with 4G LTE currently available and 5G on the horizon. Companies with 5G technology will have instant access to communication and will be able to link numerous devices together for convenience. Data delay with be reduced to one millisecond, making it more than ten times as fast as 4G LTE. By investing in this technology, small businesses will be better equipped to overcome the hurdles of remaining competitive in a thriving industry.
Until 2019, businesses were required to use multiple platforms to operate efficiently. While Google Drive is often used to store company documents, Outlook is used to manage documents. Salesforces manages customers, but Slack connects team members and allows for better collaboration. Other platforms such as BaseCamp may be used to plan and manage products. With so many platforms being used, information can easily become lost. Software unification is a new technology that incorporates all of the business platforms you use to operate efficiently into a single software. This enhances convenience and also increases productivity because companies no longer have to spend time transferring information from one platform to another.
If you own a small company in 2019, it is essential for you to embrace new business technology as it emerges. Not only does new technology help your business stay relevant and appealing to clients, but it also helps the company m operate more efficiently. Utilize these five new business trends to grow your small business effectively.