Small business owners do not usually see themselves at the forefront of developing technology, unlike business leaders of enterprises. Still, technology plays an important role in the efficiency and growth of your business. Given how 2020 drastically changed the way businesses work and its dependence on technology, investing in tech trends is sure to be important in 2021 and beyond.
Currently, new infrastructures (e.g. 5G) are gaining traction globally, but there are other trends — such as cybersecurity, software unification and personalized marketing — that will directly impact small businesses in the long run.
If you’re not familiar with them today, how can you take advantage of them tomorrow?
Small Business Tech Trends to Watch in 2021 and Beyond
Artificial Intelligence
Machine learning and artificial intelligence have been hot topics in the tech industry for years. As these technologies become a regular part of more solutions, small business owners are starting to incorporate AI into their current and new processes. This could mean a variety of implementation scenarios, from personalized customer experiences to voice assistants.
Although artificial intelligence (and the tech that comes with it) may sound like something that only large enterprises use, it is a wise technological investment that even small businesses can harness to their advantage.
After all, AI will help small businesses offer a more personalized experience to their customers by automating manual tasks and maximizing their time.
The Proliferation of 5G
5G technology — the fifth generation of cellular capability — is about to give 4G a run for its money. Boasting significantly faster data transmission speeds, 5G guarantees little or no delay when it comes to data transfers.
The proliferation of 5G is a big step in the development of the Internet of Things (IoT) since 5G networks are more capable of supporting the huge number of interconnected smart devices. While 5G already has a lot of fans, this tech is still in its early stages.
Tech-Assisted Shopping
In response to social distancing measures and lockdowns, many businesses have turned to online shopping, mobile scheduling and mobile tech to create a contactless shopping experience. This advanced approach to keeping shoppers safe has moved past the “curbside pickup” model; it has now become a natural extension of existing technology such as mobile terminals and payments.
The pandemic has made mobile payments a must-have for retailers. Also, shopping and checking out using mobile terminals and QR codes are now a daily occurrence in most shops.
Comprehensive HR Tech
Another area in business that gained importance in 2020 due to the COVID-19 pandemic was human resources. Businesses realized that their HR department needed comprehensive software that will help them keep track of their employees and their needs. This trend may continue in 2021 and beyond.
Why is this happening?
The shift to remote work has changed businesses in terms of culture, engagement, productivity and employee development. Now, businesses realize that effective technology can help them navigate the challenges that come with remote work. With these in mind, centralized HR information systems have become critical for more small business owners.
Instead of relying on Excel charts or ancient HR systems to manage your team, centralize and automate your systems to provide employees with what they need when they need it.
Stronger Cybersecurity
Nearly 60 percent of small businesses are confident that they are unlikely to be targeted in a cyberattack. However, many small businesses have been affected by data breaches and cyberattacks, so this year should be another year of small business owners fighting back.
Small and mid-sized businesses should start viewing security as an enterprise would. Focus on locking down a comprehensive disaster recovery and backup solution to protect your business’s data. Also, create new standardized game plans to ensure the safety of your business.
Influencer Marketing
Personalized marketing and social media influencers are now viable avenues for engaging with customers and showcasing your products and services. Today’s dynamic marketing strategy involves working with influencers since consumers want recommendations from people they can trust (e.g. influencers).
Personalized marketing can also help you engage with customers while developing a niche within your industry.
When you work with influencers, you must have a thorough understanding of your customer’s needs, business requirements and influencers within the industry.
Greater Emphasis on Automation
Automation has always been a buzzword in the world of tech and business. But 2021 is the year that it finally takes the center stage as more business owners are looking at automation as a fast, efficient and affordable way to cover problem areas and save money.
Many small businesses are practicing automation via online pricing automation and balancing profitability.
Small businesses shouldn’t fall behind when it comes to business tech trends. By investing in these trends today, you could become an enterprise sooner than you think.