By analyzing vast amounts of data quickly and accurately, AI segmentation helps SMEs understand customer behaviors and preferences more comprehensively than traditional methods. This understanding allows them to tailor their marketing efforts more precisely and deliver personalized experiences that resonate with their audience.

What Is AI Customer Segmentation?

AI customer segmentation refers to categorizing buyers based on data-driven insights from intelligence algorithms. Its fundamental components include advanced machine learning techniques analyzing purchase history, browsing behavior, and demographics to create distinct segments.

Research shows that 63% of companies utilizing marketing automation —which often includes AI segmentation — outperform their competitors. AI enhances traditional segmentation methods by handling large data sets more efficiently and uncovering patterns that may not be apparent through manual analysis.

This capability allows businesses to segment their customer base more accurately and in real-time. It enables personalized marketing strategies that resonate better with individual customer needs and preferences.

Advantages of AI Customer Segmentation

Understanding your clients is critical for SMEs that aim to stand out in a competitive industry. Here’s how AI-driven customer segmentation enables impressionable targeted marketing strategies.

Enhanced Personalization

Tailoring marketing efforts based on individual shopper behaviors is crucial in a cutthroat market, where understanding and responding to their preferences can make or break success. For instance, in 2022, the average documented abandonment rate for online shopping carts was nearly 70%, highlighting the need for personalized approaches to re-engage potential buyers.

AI-driven segmentation creates personalized marketing campaigns addressing specific interests and behaviors. Examples include sending targeted email offers based on past purchases or recommending products related to recent searches. Such personalized strategies enhance consumer experience and increase engagement and conversions.

Cost Efficiency

Optimizing marketing spend by focusing on high-value customer segments is a strategic move that impacts a brand’s bottom line. McKinsey, a leading U.S. bank, exemplified this approach by automating approximately 900 back-end operations, freeing up nearly 50% of its employees from routine tasks. This automation streamlined operations and allowed it to redirect sources toward more personalized browser engagement initiatives.

Moreover, targeted campaigns reaching out to high-value customers with relevant offers can yield substantial cost savings by maximizing the return on marketing investment. Such campaigns may include loyalty programs tailored to frequent buyers or exclusive promotions based on spending patterns. By focusing resources on those most likely to generate revenue, firms can achieve greater efficiency and effectiveness in their marketing efforts.

Competitive Advantage

AI segmentation empowers SMEs to compete effectively with larger companies by providing sophisticated insights into shopper behaviors and preferences that were once exclusive to big-budget enterprises. For example, SMEs can leverage AI to uncover niche markets or underserved segments that larger competitors may overlook.

This targeted approach allows them to tailor their products and marketing more precisely and resonate better with their specific audience. Moreover, AI optimizes marketing campaigns more efficiently to enhance customer engagement and loyalty. Adopting these strategies allows SMEs to differentiate themselves in the market by offering innovative solutions meeting client needs.

Improved Customer Retention

Utilizing AI insights to strengthen buyer relationships is crucial for brands aiming to maximize revenue from their most valuable customers. This approach is highlighted by the Pareto Principle, which states that 80% of an enterprise’s revenue often comes from 20% of its customers.

Analyzing consumer data through AI segmentation lets organizations identify and prioritize these high-value customers. It enables them to tailor personalized experiences that foster loyalty and repeat business. Strategies include implementing targeted messaging that addresses individual preferences and offering loyalty rewards based on purchase history and engagement patterns.

Challenges and Considerations

When adopting AI segmentation, SMEs commonly face challenges such as initial costs, technical complexity, and the need for skilled personnel to manage AI systems effectively. Moreover, navigating regulatory requirements poses a significant hurdle. In fact, nearly half of companies using AI prioritize compliance to avoid legal and reputational risks.

SMEs can conduct thorough research to mitigate these challenges and understand their needs and goals. Similarly, collaborating with AI vendors who offer scalable solutions tailored to SME budgets can streamline implementation.

Ongoing training for staff and regular updates on regulatory changes ensure compliance while optimizing AI performance. These steps let SMEs successfully integrate AI segmentation into their operations and unlock valuable insights to drive growth and satisfaction.

Exploring AI Solutions for Enhanced Business Performance

Considering the transformative potential of AI solutions, SME owners and managers must explore how AI can revolutionize their operations and customer engagement strategies. Embracing AI-driven technologies lets brands gain a competitive advantage and deliver personalized experiences fostering long-term success and growth.

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Understanding Automated Business Models

Automated business models are intended to run with minimal human intervention, using systems and technologies to perform tasks. By automating business tasks, this type of model can significantly decrease time and effort spent maintaining it allowing owners to focus more on growing and optimizing their ventures.

Dropshipping as a Retail Strategy: An Affordable Solution

Dropshipping has quickly become one of the most sought-after automated business ideas, allowing entrepreneurs to sell products online without holding inventory or incurring storage fees. When customers make a purchase, their product is delivered directly from its supplier – eliminating warehousing costs while cutting upfront costs significantly. Shopify and Oberlo are two platforms that simplify starting such businesses by providing tools and integrations that streamline this process.

Print on Demand: Simplifying Custom Merchandise Creation

Print on demand (POD) is another automated business model that has been gaining popularity recently. Entrepreneurs using POD can design custom graphics for products like T-shirts, mugs, and phone cases with POD, then have these items printed and shipped out immediately after placing an order with services like Printful or Teespring to manage production and fulfillment for them so business owners can focus their energies on marketing and design instead of production and fulfillment logistics.

Affiliate Marketing: Harnessing Content to Generate Revenue

Affiliate marketing entails promoting products or services and earning a commission for every sale made via your referral link. This business model can be highly automated by creating content that attracts and converts visitors over time – such as blog posts, videos or social media updates that provide steady income streams for affiliate marketers. Tools like Google Analytics and affiliate networks help track performance while optimizing strategies for optimal results.

Subscription Services: Recurring Revenue Streams

Subscription services offer businesses a reliable and predictable source of income. Businesses in this category provide ongoing value to customers in exchange for a recurring fee, such as subscription boxes, software-as-a-service (SaaS), or membership sites. Automation tools can handle billing, customer management, content delivery, and billing, reducing the need for manual oversight and ensuring regular revenue while creating customer engagement over the long term. This model promotes regular revenue while cultivating long-term engagement between the service provider and the customer.

Online Courses and E-books for Monetizing Expertise: Exploiting Expertise for Profit

If you have expertise in an area, creating online courses or e-books can be a fantastic way to generate passive income. Once created, content can be sold repeatedly with minimal additional work needed – platforms such as Udemy, Teachable, and Amazon Kindle Direct Publishing provide platforms where this content can be sold repeatedly without incurring additional effort. Automation tools can assist in marketing enrollment distribution so you have more time to create additional content or work on other business ventures.

Real Estate Crowdfunding: Investing with Less Hassle

Real estate has long been seen as an effective means of creating passive income through investing. Traditional real estate investments, however, can take considerable time and capital, so real estate crowdfunding platforms such as Fundrise and RealtyMogul provide individuals an easier way to invest in projects with less money and direct involvement – these platforms manage properties and distributions for investors so that returns are earned without dealing with complex property management.

Automated Trading Solutions: Capitalizing on Market Opportunities

Automated trading systems, or trading bots, can execute trades in financial markets according to predefined strategies. These automated bots analyze market data and make decisions without human interference – potentially capitalizing on opportunities 24/7. While this approach carries risks and requires careful planning, it can become a lucrative passive income source for those with an understanding of trading principles and investment principles. MetaTrader and TradingView both offer tools for developing and deploying automated trading strategies.

Conclusion

Exploring automated business ideas is an excellent way to create sustainable passive income streams. By harnessing technology and innovative business models, automated ventures allow for minimal day-to-day involvement while still producing substantial revenue.

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As CRMs evolve, small business owners must stay on top of the latest tech trends. Doing so ensures their business exceeds consumer expectations and moves forward.

1. Artificial Intelligence

Artificial intelligence (AI) improves CRM tools by turning vast data into actionable insights. AI algorithms can analyze customer interactions and behaviors to predict future needs and preferences. As such, businesses can create approaches that align with client needs at unprecedented precision. 

AI integration has grown significantly in recent years to improve customer experiences and satisfaction. By implementing AI-powered CRM systems, small businesses can foresee customer demands and enrich their marketing and sales efficiency. As a result, companies can compete on a level playing field with larger corporations by leveraging data to create meaningful consumer engagements.

2. Social CRM

Social CRM is a step up from traditional Customer Relationship Management tools, deepening buyer relationships and boosting retention. Integrating social media insights into CRM systems allows companies to engage with consumers where they are most active. This approach is crucial in an era of volatile brand loyalty. 

For instance, a staggering 71% of consumers who switched brands in 2022 did so in search of better product quality, with 58% citing this as their primary reason. Social CRM tools provide real-time feedback and support. They also enable companies to adapt their offerings based on consumer sentiments and trends observed across social platforms. By staying connected and responsive, businesses can ensure they keep their customer base content.

3. Security

Digital security is critical, especially when it involves sensitive data that CRM systems manage. As cyber threats become more sophisticated, strong security protocols are necessary. The average cost of a data breach in the U.S. reached $9.44 million in 2022, making the repercussions of security lapses severe financially.

Advanced CRM security tools feature encryption, access controls, and ongoing security audits. Prioritizing cybersecurity protects customer data and business integrity, enabling companies to build trust and protect privacy.

4. IoT

The Internet of Things (IoT) redefines how businesses engage with customers through CRM systems. Experts predict there will be 64 billion IoT devices globally by 2025, generating $4-$11 trillion in economic value. IoT technologies allow businesses to tap into real-time consumer data to serve their customers more effectively.

With continuous data collection from smart devices, companies can use CRMs to store and analyze the data and learn more about consumers. Installed sensors also help them understand product issues. Businesses can then analyze the information through the CRM, serving customers automatically and enhancing the user experience.

5. Mobile CRM

The mobile CRM market has a projected worth of more than $20 billion by 2025. With more people working remotely or on the go, having access to CRM tools via smartphones is essential. Mobile CRM allows sales and customer service teams to contact clients and update records regardless of location. 

With increased consumer accessibility, enterprises respond more quickly to inquiries and keep track of sales opportunities from anywhere. Moreover, mobile CRM integration increases productivity and streamlined processes, as desktop systems no longer tether teams to their desks.

6. Self-Service

Self-service CRMs are gaining traction, allowing customers to take over their interactions with companies and get 24/7 support. These systems provide online tools, enabling them to:

• Update personal information
• Track orders
• Access support materials
• Initiate service requests

Giving clients autonomy improves their experience and frees up resources so businesses can redirect their focus toward more complex inquiries. Implementing self-service CRM is a step in the right direction for small businesses. It creates more scalable, efficient customer support processes that quickly adapt to growing customer bases.

7. Voice and Conversational UI

CRM tools are making user interactions more seamless by using natural language processing to help buyers communicate with businesses. Whether through voice-activated assistants or chatbots, these interfaces allow users to make inquiries, schedule appointments and make purchases. 

Spoken commands and text-based conversations enhance the user experience by making it more engaging and accessible. They also help businesses manage a larger volume of customer interactions more efficiently. Companies can boost customer engagement and build lasting relationships by integrating voice and conversational technologies into CRM systems.

The Future of CRM Technology

As technology grows, so must businesses’ tools to manage customer relationships. Investing in these key tech trends enables companies to enhance their CRM capabilities and influence customer loyalty. Stay updated with the latest advancements and adopt these tools to stay ahead of consumers’ expectations.

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1. Hire Globally

Expanding your hiring practices to include global sources can naturally remove some gender bias. Be aware of the traditions in countries you plan to hire from, as each culture has different views on women in the workforce and technology industries.

You may even save money. The average salary for a human resources (HR) worker is over $65,000 annually. Utilizing online hiring from HR companies worldwide reduces how many employees you need.

2. Support Student Programs

Gender disparity in SME tech is almost unavoidable since more males graduate from programs than females. Although it takes time to see numbers shift, supporting programs encouraging young girls and teaching them basic science and math skills can have long-term benefits.

Donate money to a local high school club to encourage girls to learn information technology skills. Volunteer at schools and teach a class. Offer a scholarship for a young female wishing to get her degree in computer science.

3. Invest in Social Media Marketing

Create more balance in your organization by attracting suitable candidates. With a limited number of female applicants, it’s crucial to get your brand in front of them as a possible workplace. One way to get the word out about what it’s like to work for your company is through social media.

For example, you can utilize Instagram’s massive following to reach young college students almost ready to graduate. Have one of your younger employees post snapshots of events around the office, working from home or any other attractive perks. Consider where those you wish to reach will most likely spend their time online. Select the social media platform they prefer to get the word out about your business’s career opportunities.

4. Promote Women Throughout Your Organization

Adopt a policy of promoting fairly. If company leaders are primarily male, consider which females might be ready for more responsibility. When job candidates see your company culture is inclusive of everyone, they’re more likely to select your offer for their new job.

Set the example of diversity in non-IT jobs to encourage inclusion in computer science roles.

5. Copy Companies Hiring Women in IT

Women make up a mere 18% of computer science degrees. Unfortunately, they leave the industry twice as often as men because of an unfriendly work environment. However, some employers stand out as excellent options for women in SME tech, including American Express, GoDaddy, and Apple. Study what these brands do to include women and copy their best practices.

6. Lose Biases

Overhaul your company and lose biases that might impact women negatively. Train everyone not to ask questions about family that might insinuate the worker can’t effectively do their job.

Stop punishing women for childbirth and taking time off to raise children before reentering the workforce. Females are less likely to receive promotions because they’ve taken family leave. Those in charge may see them as less dependable because they have a family.

Instead, make gender-blind decisions about promotions by removing names and demographic details from the list of qualifications.

7. Prioritize Skill-Building

Businesses should embrace building skills in all employees. Send everyone to workshops, pay for courses to develop expertise, and encourage attending conferences.

Well-trained employees do their jobs better and may feel more satisfied, reducing churn. They’ll see you want to invest in them personally.

Hire based on skills rather than degrees. Doing so opens options to nontraditional candidates and allows self-taught gurus to enter the applicant pool. McKinsey reports an experiment where employers posted skills-based job openings and saw a significant increase in qualified applicants.

If you have an employee with an excellent work ethic and a desire to learn IT, invest in their passion and train them for the position they desire.

Enhance Awareness of Gender Bias

Awareness of gender bias in the industry and working to combat it enhances company culture and leads to solutions for the lack of females in IT. Once you understand a problem, it’s easier to develop potential solutions and experiment with new policies to bring in a more diverse employee population.

Featured image provided by fauxels; Pexels; Thanks!

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Virtual tours come in many forms. They can be as simple as a digital walkthrough on people’s phones or computers or as immersive as virtual reality (VR) experiences. Whatever the specifics, there are great tools for ensuring accessibility and inclusivity if you implement them properly. Here’s how you can make the most of them.

Provide Virtual Tours for Customers

Depending on your business type, you may consider virtual customer-centric experiences. Manufacturers can give virtual tours of their facilities. Entertainment companies can use them to accommodate guests who can’t make it in person. Travel businesses could recreate far-away destinations in virtual replicas.

Businesses that historically rely on in-person visits have the most to gain from virtual tours. For example, the real estate industry saw an exponential increase in property showings once VR home tours became a reality.

Virtual alternatives to in-person business appeal to a wider audience. Many people have disabilities that hinder them from participating in in-person walkthroughs or may not be able to afford to travel to some destinations. Virtual experiences ensure everyone can enjoy your company despite these barriers.

Provide Virtual Tours for Employees

Customer experiences are the most obvious way to implement virtual tours, but they’re not the only ones. You can also offer virtual visits and vacations to employees.

You could let employees use company-owned VR equipment to enjoy immersive, relaxing experiences to reduce workplace stress. Alternatively, you could host virtual tours of exciting destinations without worrying about the logistics and inaccessibility of group travel. This technology could even be part of your work, like doing virtual walkthroughs of new company locations.

Virtual workplace experiences are particularly valuable for international employees. Global teams are most effective when everyone feels included and connected, which can be difficult in conventional workplaces. Using VR to bring everyone together in an engaging environment lets you overcome that obstacle.

Support Multiple Accessibility Technologies

Regardless of who you run virtual tours for, covering several options is important. Remember, the point of these experiences is to be more inclusive, so you should consider how different options accommodate various groups.

Many virtual experiences focus on immersion, which is great, but you should also have options for people with visual impairments. Text-to-speech software and audio descriptions of visuals can help. Similarly, providing hands-free options to control these experiences makes them more accessible to those with physical disabilities.

Some businesses may want to craft different virtual experiences for audiences of varying accessibility needs or education levels. Some companies offer separate experiences for varying grade levels, for example. Alternatively, you could create various tours based on audio, visual, or physical needs.

Consider Technological Barriers

Similarly, you should consider how some audiences may face technological obstacles. Offering a wider variety of virtual tours instead of relying on a single technology makes them more accessible.

VR is the most obvious and immersive way to offer virtual tours, but it’s also one of the least affordable. Headsets cost over $400 on average, and that doesn’t include the cost and availability of a fast enough internet connection. That may not be an issue if you buy VR gear as a company to offer your employees, but it limits consumer-facing or remote worker accessibility.

In-browser online virtual experiences or phone-based augmented reality (AR) tours are more accessible alternatives. They may be less immersive, but supporting these separate technologies ensures you can be more inclusive.

Virtual Tours Are the Future of Accessibility

Tours are a great way to connect with customers or make the workplace more engaging. Virtual alternatives let you extend these benefits to more people. On top of getting additional business, inclusivity can improve your public image, boost workplace morale, and accommodate people who traditional experiences may leave out.

If you’re planning on implementing virtual experiences, remember why you’re doing so. Consider how you can benefit customers and employees through these tours, support multiple technologies, and provide ways around technological barriers. You can create the most inclusive and engaging business experiences possible if you can do all that.

Featured image provided by MART PRODUCTION; Pexels; Thanks!

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What Are the Benefits of Transitioning?

Transitioning to a different tech stack at a new job gives you unique professional opportunities.

• More Marketability

On average, small businesses have up to 10 separate tools in their tech stacks. While each comes with a login and a learning curve, they ultimately present a great opportunity — they make you much more marketable. Although it might take time to get used to them, you end up with valuable industry knowledge to carry into your next job.

• Enhanced Performance

Transitioning to a job with a better tech stack — specifically something more modern or consolidated — means you’ll likely experience a performance boost immediately. For example, some service providers offer omnichannel support so you can stay on the same portal to take care of multiple duties, making you more efficient.

Consider how many tools can’t communicate, creating internal data silos between departments. Interconnection can increase productivity since you spend less time on consolidation or duplication. Excellent performance looks great when starting a new job and could eventually translate into promotions or bonuses.

• Increased Salary

Salaries in the technical industry are nothing to scoff at, but you may get a significant pay increase for a tech stack transition alone. For example, programmers using Django will increase their pay by nearly 50% just by switching to Ruby on Rails. It’s less standard than something like Java, so it’s more valuable.

The best time to change careers is when your sector is thriving or experiencing a labor shortage. Perhaps you need a new challenge and feel you’ve learned all you can in your current role. Since roles in the technical field have some of the highest demand in any job market, it could be worth adapting to a new tech stack for a significant bump in pay.

• Earlier Adaptation

Over 50% of workplace skills will need updating in the next five years to accommodate a rapidly digitizing professional landscape. Chances are you’d transition to a new tech stack soon regardless of if you change careers, so you should weigh your options. Leaving gives you the upper hand because you can negotiate and set new expectations.

• Potential Upgrade

A potential technical upgrade is one of the most significant benefits of transitioning to a new tech stack. Legacy tech is much more challenging to use and manage than its modern counterparts, so it would make your work life much easier. A lighter workload is ideal when you regularly deal with seemingly endless alerts and tweaks.

What Are the Challenges of Transitioning?

Transitioning to a new tech stack can be time-consuming and increase your daily workload.

• Lengthy Adjustment Period

The learning curve you’ll have to deal with is one of the most significant challenges of adjusting to a new tech stack after a career change. For instance, consider you’re a DevOps engineer switching from C# to Python. While these programming languages are generally easy to learn, the transition still comes with obstacles.

Your mind will often subconsciously revert to habits, making adapting challenging. Unless you’re proficient with each tool, you’ll need to quickly figure out your new workplace’s intricacies to keep up with your co-workers. Because of this, your workplace performance may take a hit.

• Potentially Worse Tools

Although you’ll have to adjust to a new tech stack for most career changes, it can still feel uncomfortable. Some people in the industry won’t even take a job if it uses different tools specifically because it can be a challenging experience.

Businesses are often slow to overhaul their tech stack because of operational and financial barriers. Even though your current job may have the latest software available for employees, there’s a strong chance your new one won’t.

Imagine you find the perfect job — great pay, good culture, and excellent benefits — only to find it uses tools you don’t prefer. You may dislike them in comparison to your old tech stack. However, you should ask yourself if it’s actually worse or just unfamiliar — starting from scratch rarely feels fun and exciting in the tech world.

• Lack of Employer Support

The business you transition to may not support your learning endeavors, considering most employers prefer candidates with the proper training. Many won’t question you about your proficiency with their tech stacks because they assume you’re already familiar. While some have particular requirements, you might fly under their radar.

Although moving forward without saying anything is tempting, your lack of experience will show once you start and are behind others. While you could get by on basic knowledge and tutorials since the demand in the tech industry is high, it makes work uncomfortable and unfulfilling.

• Use of Legacy Tools

Things like cloud technology, artificial intelligence, and the Internet of Things increasingly align with modern tech stacks, meaning legacy hardware may soon become obsolete. However, simultaneously upgrading everything is expensive, so businesses often only partially upgrade to be more cost-effective.

It could feel disheartening to start your new career only to find you must adapt to legacy tech over the new tools you used in your previous role. It shouldn’t eliminate the career as a possibility for you, but it can be challenging to adjust when you’ve grown used to the convenience of modernity.

Is It Worth Transitioning to a New Tech Stack?

Transitioning to a new tech stack is only worth it if it aligns with your goals, so the answer has many variables. Most of the benefits come from the assumption you have room for learning or will be working with better tools, while the challenges mostly stem from the likelihood of legacy tech’s presence.

It’s probably worth it to make a career change and adapt to a new tech stack if you need motivation, a pay increase, or a change of scenery. On the other hand, it may not be the right choice if you think you won’t be able to keep up with your co-workers once you make the switch. Ultimately, only you can decide if transitioning is worth it.

Consider Your Options

Learning a new tech stack can be time-consuming and frustrating, but it can give you a higher salary and marketable skills. Weigh your options to see if the transition is a dealbreaker or if you can live with it.

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What Use Is ChatGPT in the Grant Application Process? 

Small and medium-sized enterprises (SMEs) sometimes need additional funding. They don’t often have dedicated grant writers on staff, which can pose an issue. While they always have the choice to hire someone, they may be unable to spare the expense if they’re already looking for extra funds.

While the only choices in the past may have been to hire someone or go without, technological advances make an alternative possible. Organizations can use tools like ChatGPT because it can rapidly produce written content for their grant application process.

Human error is avoidable with the right technology. Some of the most significant benefits of transforming processes digitally are increased accuracy and efficiency. Streamlining the process is essential when the result is expanded financial support.

What Is ChatGPT?

ChatGPT is an artificial intelligence (AI) model developed by the company OpenAI that can provide feedback, answer follow-up questions, and respond to prompts. It’s a natural language processing engine, meaning it speaks like humans. The data it trained on came from all over the internet, so it has a wide variety of knowledge. It’s gone through several iterations and has grown in intelligence and scope with each one.

How Can It Help With the Grant Application Process?

The most important part of the grant application process may be the proposal. A grant proposal is a written outline of an organization’s intent for potential funds meant to encourage granters to give support. It is the foundation for the rest of the process and can increase the likelihood of a successful application.

Most professional grant writers either charge a flat fee or a percentage of the amount of funds you request in exchange for their work. ChatGPT can replace or assist with many parts of the grant writing process to improve accuracy, save money, and streamline the process.

1. Generate Text

One of the most useful ways AI can help with the process is through text generation. It can provide you with large chunks of text based on the prompt you give it. You can gradually generate sections of text until it writes the entire proposal for you.

If an SME doesn’t have the resources to hire a professional or designate someone as the grant writer, they can simply request the entire text from the AI.

2. Give You a Starting Point

Even if you’re considering hiring someone, it can help to get a strong starting point. It might be challenging for SMEs to decide which information is relevant and interesting. Thankfully, ChatGPT can understand and respond to very specific requests with accuracy.

You can ask the software to create a grant proposal outline for your industry or problem. It answers with precise information that directly relates to your organization and query. Unlike simply using a search engine, ChatGPT gives you incredibly pertinent information. However, be mindful that its knowledge base only extends to the data available before September 2021, so you may not have access to the most recent information in your industry.

3. Streamline the Process

Any organization searching for additional funding can benefit from a streamlined grant application process. Searching online for information or ideas can take up valuable time. ChatGPT usually responds within a second or less, which means you can continuously tweak and enhance your proposal with little to no downtime.

4. Provide Feedback

Since the AI is a natural language processing engine with billions of parameters, it can have a human-like conversation with you. If you have an idea you want feedback, you can prompt it to give you a detailed response. The answer it gives won’t have a ton of weight because it is based on its training data, but it may still provide valuable insight. It lets you think out of the box and get another perspective on parts of the proposal.

5. Refine Your Writing

You can use ChatGPT to refine its writing or yours. Since it generates almost any content nearly instantaneously, you can keep plugging in text until you have something you like. For example, if it gives you a great chunk of text with a few inconsistencies, you could ask it to clarify or revise those sections.

What’s the Best Way to Use ChatGPT?

While it’s a relatively simple tool with many straightforward uses, there are a few ways you can enhance the process of going back and forth with it.

Your grant proposal will be better if you know how to best use ChatGPT:

• Write clear prompts: Exact language is best for generating very precise text. It’s more likely to know what you’re asking and give you a relevant answer if your prompt is very clear.
• Review its content: While ChatGPT is very useful, its accuracy isn’t guaranteed. It’s best to review and edit everything it creates to ensure everything is factual and information about your organization is correct.
• Be specific: You can ask it to create text that specifically relates to your industry, field, or issue, so take advantage of that. Instead of asking generic questions, plug information in about specific parts of your sector.

• Repeat your process: AI works best when you phrase your question in multiple ways. Repeating your prompt with slight variations causes it to respond differently, providing you with more to work with.

While ChatGPT is incredibly useful, it’s ultimately simply a tool. Remember that human assistance and evaluation are necessary to ensure everything is entirely accurate and relevant to the organization’s goal.

ChatGPT Can Help SMEs with Grant Proposals

Technology has advanced to the point where an AI can help brainstorm, write, and edit a grant proposal. ChatGPT can be incredibly beneficial for small businesses looking to secure funding. SMEs looking to digitally transform their grant writing process can utilize it to save valuable time and resources.

The post How ChatGPT Can Help SMEs With Grant Application Process appeared first on SmallBizTechnology.

1. Use Chatbots to Draft Candidate Communications 

Staying in touch with candidates through the hiring process is crucial, but it becomes more difficult as the number of people applying rises. Fortunately, you can use tools like ChatGPT to suggest how to tell applicants about their progress. For example, will you invite them to an interview or inform them others are better suited to the role? 

Following up with all candidates protects your brand and shows respect to the people who decided to apply. A tool like ChatGPT could also help you develop consistent messaging, further strengthening the perception of your company. 

Consider using a chatbot to help you craft content for various situations. Whether you need to let candidates know their applications are under review or want to extend job offers, clear communication will make these experiences better for everyone involved. 

2. Let Chatbots Create New Content for Job Ads

When decision-makers at your SME commit to recruiting and hiring more candidates, you must take the time to ensure any previously used job ads still reflect current needs and benefits. You may also need to make wholly or mostly new postings to attract the kinds of people you hope to hire. 

You might stipulate that international workers you hire will be contractors rather than employees. Alternatively, you might need to clarify that advanced English-language skills are a prerequisite for getting hired. 

Perhaps you’re recruiting to fill skills gaps in your organization. In that case, make sure the job listing has those specifics. You might say it’s essential for candidates to have at least three years of artificial intelligence (AI)  development or cybersecurity experience. Whatever the case, tools such as ChatGPT can help you write that content more quickly. 

You can even format your query by stipulating that the chatbot’s responses must have or should not contain certain elements. This should dramatically accelerate your workflow. 

One study found that three-quarters of respondents thought AI would gradually become more natural and human-like. Even if you believe that, don’t be fooled into thinking AI can replace your oversight. Let the technology supplement it instead.

3. Rely on ChatGPT for Candidate Assessments

Many employers remain unsure of whether to allow their workers to use AI. Some have banned it outright. They worry that products like ChatGPT could provide incorrect information or enable people to cheat. However, there are better approaches than forbidding candidates to use generative AI tools.

One possibility is to test candidates’ resourcefulness with AI by allowing them to use it during company assessments. It’s already clear artificial intelligence is becoming an increasingly significant factor in how people use the internet and complete various tasks. Recruiters typically want to see whether applicants can think creatively and use all the tools available to them.

Consider creating one assessment where people can use AI tools and another that forbids it. Then, compare the results and look for details of someone’s most obvious strengths and weaknesses. 

4. Have the Chatbot Suggest Interview or Screener Questions

It’s always a good idea to freshen up your interview questions when engaging with candidates. Some people suggest using ChatGPT to understand what will likely be asked during interviews. It does work that way, but you can also have it create new questions for candidates. 

One option is to paste the job description into the ChatGPT input box and ask the tool to provide appropriate questions. That could encourage you to think differently by going beyond how you’ve previously engaged with candidates during the interview process. 

Another possibility is to use an AI chatbot while writing your candidate screener questions. People see them when they’re submitting resumes and cover letters. They might ask individuals what appeals to them about a specific job, how prepared they are to relocate, and which characteristics make them most well-suited to succeed. 

Coming up with these questions takes time and effort, but those are some of the strongest reasons to rely on AI chatbots. You’ll still need to proofread the queries and potentially make some tweaks, but this technology application is a definite time-saver. 

Maintain a Realistic Perspective

AI chatbots are incredibly versatile, but they don’t replace human input. Use these suggestions as jumping-off points for how you might apply these tools in your organization — particularly for recruitment. The potential applications will undoubtedly change and expand as technology advances. However, these are practical and useful ways to experiment with it now.

The post The Use of Chatbots and Generative AI, Such as ChatGPT, in SME Recruitment appeared first on SmallBizTechnology.

What Is Robotics Process Automation?

RPA is a type of business automation software capable of automating digital tasks. It programs virtual “bots” with specific rules or scripts for simple actions. Businesses commonly use RPA solutions to automate back-office operations, such as accounting or customer service.

According to Fortune Business Insights, the global robotic process automation market is expected to reach over 50 billion by 2030. RPA-powered bots will become commonplace in the modern workforce in the coming years.

How Robotic Process Automation Affects Small Businesses

Although small businesses may spend a different amount of money on technology than their larger competitors, they still face the impact of the rise of RPA. Some companies in the RPA space even offer free or low-cost RPA solutions to make them more accessible to SMEs.

Here are some of the positive effects RPA has on SMEs.

Reduces Costs

It seems as though SMEs investing in robotic process automation would be counterintuitive because it could raise costs. However, some jobs within a company can be taken over by bots, reducing the need for some employees.

While this would be a disadvantage to the workforce — as it could cause workers displacement — it can benefit businesses. Additionally, as RPA becomes more widely used, the costs associated with implementing it will drop. When adopting such a solution, the goal is not to replace all employees with robots, but to implement technology that frees up time for operation-critical tasks.

Improves Employee Productivity

The business world will soon become hyper-automated, and robotic process automation will help lead the charge. Although some workers may need to upskill to keep up with RPA, it’s widely known that RPA and other automation technologies work best alongside humans — not instead of them.

Robotics do not replace human employees but mimic some of the same activities humans perform to do their jobs well. Therefore, RPA can significantly improve productivity in the workplace. As mentioned above, it takes over trivial tasks to free up team members to focus on more important, meaningful projects.

Helps Scale Business

Since RPA bots can easily integrate into an organization’s existing systems, the company can scale more efficiently without increasing costs, which can help it grow. Scalability is a vital characteristic of some of the most successful businesses. Since robotic process automation can help a company scale, it’s often regarded as a wise investment. Without RPA, SMEs may face more challenges while trying to scale themselves. 

High ROI

RPA can positively affect companies that adopt it because it offers a good return on investment (ROI). According to research from Gartner, RPA can recoup the cost of implementation in as few as three months and offer labor savings from 25–40 percent.

One reason why RPA yields a high ROI is that it can save companies money long term. In industries such as insurance and banking, it’s crucial to follow evolving regulations and compliance requirements. RPA can keep track of new or changing conditions so human employees don’t have to. In the long run, this can save organizations money.

Helps Garner New Talent

Another positive aspect of RPA is that it can help companies improve their recruiting efforts. Modern employees like to work for companies that are willing to invest in new technologies, and RPA is no exception.

If a candidate knows a job they’re applying for leverages automation technology, they could feel more eager to work for said company. RPA can also help with various HR responsibilities, such as scanning resumes, scheduling interviews or calls, and more.

Consider Implementing Robotic Process Automation Into Your Small Business

When companies adopt RPA solutions, the benefits they can reap are too significant to ignore. It’s becoming increasingly popular for companies to take advantage of all RPA has to offer, whether back-office tasks or working alongside employees. It’ll be interesting to see how RPA continues to impact the small business landscape and if more small businesses worldwide decide to adopt and implement RPA into their operations.

The post The Effects of Robotic Process Automation for Small Businesses in 2023 appeared first on SmallBizTechnology.

Improved accuracy and error reduction are some of the most promising benefits of digital transformation. If you can capitalize on technologies like cloud computing and artificial intelligence (AI), you can unlock more informative insights, higher productivity, and less disruption. Here are five ways how.

Consolidating Information

The first and most straightforward way to achieve these benefits is to maximize your visibility across your organization. Digital tools enable you to keep all your critical information in one place, making it easier to spot errors and providing more context for this data.

One of the biggest advantages of cloud computing is that multiple users can access the same files simultaneously and see each other’s changes in real time. These features provide a single, continually updated source of truth for all parties. This visibility, in turn, reduces confusion and makes it easier to collaborate.

Of course, things can get complex and spread across separate programs, even in the cloud for SMEs. You can avoid this by using management software that consolidates multiple apps or employing AI to gather and organize your data.

Improving Accessibility

Similarly, digital transformation can also make important data and tools easier to access. On top of consolidating once-disparate resources, cloud platforms can make everything remotely accessible. This lets you see and respond to changes faster, minimizing the risk of overlooking critical information or delaying time-sensitive action.

Digital tools like remote collaboration software take these benefits further by enabling remote work. Studies show that home-based employees are often more productive, thanks to fewer distractions and a more comfortable working environment. These improvements help them pay more attention to their jobs, reducing the risk of errors.

Other digital resources, like Internet of Things (IoT) devices, can give you and your employees real-time updates about mission-critical processes. As a result, you can adapt better and minimize disruption from unforeseen circumstances through speedier responses.

Automating Time-Consuming Tasks

Digital transformation lets you automate your most inefficient and error-prone tasks. Manual approaches to administrative duties like data tracking or inventory management are often time-consuming, and their repetitive nature makes them unengaging. As a result, people are more likely to make mistakes or spend too much time on them.

People struggle with highly repetitive and data-heavy tasks, but this is where computers excel. Consequently, tools like robotic process automation (RPA) can accomplish them faster and with fewer mistakes, freeing employees to focus on other duties they find interesting.

Automating data entry, scheduling, and other non-value-adding, back-office tasks will also reduce the workload on your employees. As a result, they’ll be able to focus more, further minimizing errors and boosting accuracy.

Gaining Deeper Insight

Going digital in more areas for SMEs will also increase the amount of available quantifiable information. Using digital systems instead of traditional workflows and resources means virtually every action generates data. This gives you more insight into your organization’s operations, informing more accurate decision-making.

You should feed all this information through AI algorithms to make the most of this insight. Data analysis, like other administrative tasks, is repetitive and highly detailed, especially with large datasets. As such, it’s easy for humans to miss some patterns in all the noise. Using AI instead can reveal trends you may have overlooked otherwise.

AI-driven data analytics can reveal what’s working in your business and what isn’t. You can then make the most informed decisions to adapt and improve as your company grows and faces new challenges.

Increasing Accountability

An easier-to-overlook advantage of digital transformation is its ability to hold people accountable. Everything generates a virtual paper trail in a digital environment, so it’s easier to trace problems to their origin. That informs ongoing improvements in some areas and, in others, helps ensure employees and partners work as they should.

Project management software, which just 23% of organizations use, shows who’s responsible for each task in a project. This makes it easier for people to understand their roles and responsibilities, avoiding mistakes.

Accountability is about more than just ensuring people aren’t lazy or break the rules. In many cases, good, talented employees can overlook or forget about certain responsibilities or deadlines because things need to be clarified. Providing more clarification with these digital tools helps prevent that and provides the direction people need.

SMEs Need Digital Transformation

Digital transformation can be intimidating, but the benefits speak for themselves. Organizations that implement these tools can improve accuracy and prevent errors across every aspect of the business.

These improvements are becoming increasingly crucial in today’s crowded business market. Companies that don’t implement them risk falling behind the competition. Capitalizing on digital transformation early will help you succeed now and in the future.

The post How SME Leaders Can Improve Accuracy and Prevent Errors Through Digital Transformation appeared first on SmallBizTechnology.

Automate Inventory Control When Possible

Selling out of in-demand goods faster than expected can cause numerous issues throughout a business. The situation could disappoint customers, making them decide they’ll look elsewhere to meet their needs. Replenishing the items could take longer than you think, leading to other supply chain hassles.

That’s why it’s smart to look into robotic technology that uses artificial intelligence for better inventory control. For example, some solutions let you set triggers so goods are automatically reordered when inventory reaches a certain level.

Some artificial intelligence platforms can also make inventory-related predictions. That way, you’ll know sooner that something is about to sell out and can potentially react before it does.

Robots can also roam store aisles to monitor how much stock is left on certain shelves. Depending on the size and scope of your business, those may be outside your budget for now. However, they’re good to keep in mind for the future.

Look for Ways to Pursue Digitalization

If you stop to think about it for a second, you’ll more than likely realize that digital advancements have made your business and personal life much easier. Many digital banking platforms allow you to generate reports, and you can check your balance from anywhere.

Making a conscious effort to focus on digital operations will help you set the stage for using robotic technology. For example, there are many compelling reasons to switch to paperless processes.

Some email platforms automatically categorize incoming emails based on their subject lines and senders. Others can recognize key elements in the content and automatically route them to the appropriate person or department.

Similarly, a digital project management suite can automatically assign tasks to the correct parties and give you status updates as things are completed. You’ll be less reliant on manual tasks, which reduces the likelihood of errors.

Investigate Automating Your Customer Communications 

No matter what kind of small business you have, it’s important to stay in a top-of-mind position with your customers. Ideally, they’ll think of you first to meet their needs. One way to increase the chances of that happening is to send periodic communications.

Using a platform to distribute bulk text messages is a popular option. Consider that approximately 93% of adults from advanced economies have mobile phones. Many people are already well-accustomed to receiving text messages, too.

Think about how you might automate text message distribution. You could:

• Tell people about limited-time sales
• Remind customers to fill out feedback surveys
• Give birthday wishes or mark other milestones
• Prompt website visitors to complete unfinished orders

People don’t always have time to open emails right after receiving them. However, text messages are often easier for them to immediately digest. Before setting up an automated system, consider the wording and format carefully. You’re working with limited space, so make every word count grab attention immediately.

See if Robots Fit Your Budget

Investing in robotics to cut operating costs may seem counterintuitive. After all, many robots have high upfront costs. Fortunately, they’re starting to become more accessible. Some companies charge per-usage rates to let business owners rent robots. One machine costs $8 an hour to run, less than hiring a person. The option to rent a bot lets people lower expenses and only pay for the time they use the robot, which often makes the prospect more affordable.

Sometimes, decision-makers realize the cost of purchasing a robot is worthwhile because it allows people at the business to spend their time more productively. Consider how an Auckland, New Zealand-based export business with 80 employees used a robot called Robert to assist with data-entry tasks.

Employees initially thought Robert was a human working remotely. It took some staff members several weeks to realize it was not a person. Workers said deploying this kind of robotic assistance was instrumental in enabling them to focus on more value-added tasks and keep the company competitive.

How Will You Deploy Robotic Technology?

As these examples show, there’s no universally best way to take advantage of robotic technology in a small business. However, a good starting point is to assess persistent weaknesses in your company. How might automation improve them and give your workers more time to focus on other duties?

Now is also an excellent time to decide how much of your budget you can devote to robotic technology. Don’t worry if you only have modest financial resources. Many business owners start small when using robots and automation, then scale up once they see those upgrades pay off.

The most important thing is to stay open to new opportunities and know that it may take some time before you see the full impacts of any tech upgrades. Remaining focused on what you want to achieve will help you stay motivated.

The post Implementing Robotic Technology to Reduce Operating Costs for Small Businesses appeared first on SmallBizTechnology.

Let’s explore these questions and see what the hype is about.

What Is Hybrid Database Architecture?

First, it’s vital to nail down a concrete definition of hybrid architecture. This type of database possesses features of two distinct structures: relational and NoSQL. Relational databases store information in the form of traditional systems, namely tables. Employees retrieve data from these structures with language commands.

NoSQL — an abbreviation for “not only structured language queries” — is a database design that enables storing information outside of traditional relational structures. It uses document stores, key-value stores, graphs, and other unique methods to make it easier for complex organizations to access information. However, NoSQLs can be inconsistent.

A hybrid database architecture possesses the positive qualities of both structures. It stores data on a physical disk and in the software’s memory, combining to create a singular engine where analytics and collaboration can occur simultaneously.

A hybrid cloud is designed to break down the wall between data processing and analytics, enabling businesses to make quicker, more informed decisions about their projects. So, here’s a deeper dive into hybrid architecture’s impact on small businesses.

How Hybrid Architecture Helps Small Businesses

There are many benefits that hybrid database architecture can bring to small businesses, including better productivity, heightened security, and reduced costs. It can handle more data than the average relational or NoSQL database. Users also have more control over the information it collects. Here’s how it can help your company.

• Better Productivity

Relational databases have limited amounts of space for data storage. Once you reach the limit, you must expand the server’s CPU, RAM, and solid-state storage device (SSD). NoSQL databases are also limited, requiring you to add more nodes over time. Everything happens on a physical disk.

A hybrid database enables you to back up your data regularly through the software’s memory. No manual alteration is required. This structure allows employees to organize and retrieve information more quickly. Hybrid databases also have automated features that analyze the available statistics and help workers create project plans with a high probability of success.

Other databases use horizontal and vertical storage techniques, while hybrids use rows and columns. This structure helps employees analyze and distribute the data with greater efficiency. This function even has a name — hybrid transactional and analytical processing (HTAP). The design is ideal for the modern world’s fast-paced work environment.

• Heightened Security

Hybrid databases inherit the flexibility of NoSQL databases, but they also have the security features of relational databases. They use SQLs to create a standardized interface that only authorized users can use. Additionally, since hybrid databases utilize hardware and software, businesses can store their most sensitive data on a private cloud to protect it.

Authentication and auditing are near-automatic with hybrid databases. Managers can easily track employee activity, monitor important datasets, and identify emerging threats. It also helps ensure the company follows industry standards or regulations by spotting human errors.

• Reduced Costs

Small businesses need to find money-saving solutions wherever possible. Optimizing data storage with a hybrid database can save lots of money by eliminating hardware costs and assisting with project management.

The cost of replacing hardware and third-party servers can debilitate a small business. Hybrid databases provide the option of using private servers, keeping storage costs low, and freeing up funds for other endeavors. This factor is more important than ever as companies center their operations on their websites and build remote workforces.

Most businesses aren’t reducing salaries for qualified employees to avoid labor shortages. Additionally, expensive digital tools like intelligent automation are becoming mainstream. Small companies that want to keep up with new technology and retention strategies must cut costs elsewhere. Hybrid databases help them accomplish that goal.

Hybrid Databases Belong in the New Working World

Many aspects of the workplace have seen drastic changes in the last few years, from new employee expectations to never-before-seen automated technology. Hybrid databases belong in the working world because of their ease of use, heightened cybersecurity, and reduced costs. They will partly influence upcoming business trends and help small businesses adapt.

The post The Impact of Hybrid Database Architecture on Small Business Projects appeared first on SmallBizTechnology.

When you monitor your employees remotely, you don’t want to micromanage them and be breathing down their necks – you want them to work in the way that is most comfortable for them. These pieces of WFH equipment can make working from home a lot easier on your employees, leaving them enough energy to work through the day and have time with their loved ones at home.

1. Standing Desk

Standing up while working is a new trend that can keep employees in shape. Exercise can help someone stay motivated throughout the work day, but how can you get your activity in if you don’t have time to exercise?

A standing desk can remedy this problem by forcing someone to stand up. Simply by standing, any employee can improve their health and have less of a sedentary lifestyle.

2. File Organizer

When you work with many papers, you need something to keep them organized. File cabinets, however, might be challenging to make space for.

File organizers are smaller WFH items that can fit on a bookshelf or stick directly to your wall. They’re a great purchase if you’re used to sorting papers while working from home. Plus, they look much nicer than a bulky beige cabinet.

3. Biking Desk

Some desks take standing desks to a new level. These desks allow you to pedal while you’re working, effectively burning calories and increasing flexibility, among other benefits you can gain while riding a bike. If you have any employees who love to exercise or need to fidget while they work, a biking desk would be an excellent addition to their home office.

4. Reusable Notebooks

Having paper is essential to any job. Instead of wasting pages upon pages of notebook paper to take notes only to throw them away, consider investing in reusable notebooks. These notebooks can allow you to write on a surface, then erase your words. Some even allow you to take a picture and upload it to an app. That way, you can store your notes online for as long as you need.

5. A Second Monitor

If you want your employees to complete their work more quickly, a second monitor gives them the option of having more on their screen without having to rapidly switch windows.

A second monitor may be seen as a way to level up an employee’s performance and may do well as a reward to help retain employees. If people know they’ll earn something by sticking with your company, they may be more likely to tough it out through the difficult times.

6. Anti-Fatigue Mat

Perfect for standing desks, an anti-fatigue mat is typically filled with gel or some other cushion that is easy on workers’ feet. The mat makes it so that employees can work at their standing desks whenever they feel like it for as long as they please.

It might take some getting used to, but eventually, your employees will feel at ease using an anti-fatigue mat to keep them energized and focused throughout the day.

7. Plants

Plants may not be the first type of WFH equipment to come to mind, but they’re a must for nearly any remote work setup because they give people another thing to take care of. Some people may see it as a chore to water plants, but succulents offer the same joy of having a burst of green in the office without worrying about taking care of it.

Plus, having green in the office can help lower stress and invite rest into a person’s life. It’s the perfect color to add to offices because it can help your employees feel more at ease at their desks.

8. Blue Light Glasses

Your eyes are some of the most important tools you have. When employees are working from home, they’re likely glued to the screen. You want them to protect their eyes, so why not instruct them to wear glasses that reflect blue light?

You may find your circadian rhythm disrupted when exposed to blue light without protection. Glasses that reflect blue light can keep your employees safe at any point in the day.

9. Ergonomic Chair

To do their best work, your employees must have the best equipment. A chair that fits them ergonomically will preserve good posture and save them from pain after a hard day’s work.

The chair itself isn’t the only thing – your employees must also know how to sit in it and maintain good posture to avoid hurting themselves. Still, the presence of a comfortable chair that positions them correctly could do nothing but help them.

10. Fidget Toys

Some people just can’t sit still during work. They might need something at their desk to fidget with to occupy their mind as they work through a problem. A fidget toy, such as a fidget spinner or a fidget cube, can help them work aimlessly with their hands during a slow period or one that requires intense focus. It’s an easier way for them to get their energy out during the workday while staying focused.

WFH Doesn’t Have to Be a Chore With These Items

With a few simple gadgets, your employees can level up their WFH life. These items all have the potential to add to the quality of working life for some people, while others may see them as distractions. It’s up to each of your employees to figure out the working style that fits them best. Then, you can provide them with the tools they need to finish their days productively and in style.

The post 10 Pieces of WFH Equipment to Boost Remote Productivity appeared first on SmallBizTechnology.

Still, you should consider carefully before making accounts on several platforms just because you can.

1. Pro: You gain a channel of communication with your customers and leads.

Social media is the easiest way to connect with would-be customers these days. Nearly every customer who has worked with or purchased from you in the past likely has a social media account.

You can reach out to them to tell their friends about your new presence on social media. Also, you should have messages open so people can contact you with offers of collaboration or questions about your products and services. Open yourself up to conversation from people.

Publicly thanking consumers for their praise and admitting shortcomings in response to criticism can be an excellent way to showcase your strengths. It shows that your business listens to and cares about what consumers think of the brand. As 47% of customers find brands more favorable when they answer questions and respond to complaints via social media, you’ll simultaneously be positioning your brand in a more favorable light.

2. Con: You might rely on ads.

Of course, to find those aforementioned would-be customers, you have to grab their eyes on social media.

Word of mouth might be the most popular and effective advertising tool. However, if you can’t reach new groups of people through it, you’ll have to branch out.

Ads on social media often aren’t expensive, and they can draw plenty of people to you via demographic targeting. You may find ads worth the investment. But, if leads start to see your ads too much, it could backfire on your business quickly.

3. Pro: Your page can unite like-minded people.

By running a social media account for your business, you can draw your customers together in one place.

They all have something in common: a love for your business! People may be able to identify a support system full of people who understand their stage of life by simply interacting with them in the comments.

You can bring together new friends and create a community that adores your business and everything you offer.

4. Con: Social media is time-consuming.

There’s a reason why being a social media manager is its own job.

First of all, you have to choose someone who knows how to curate certain content for any kind of audience. You also have to have someone make graphics and content for your page.

You also have to have that person on standby to reply to any questions in the comment sections or direct messages. They should also research the latest trends or changes in the app and algorithms. You should start with one social media platform instead of all of them.

5. Pro: You can answer frequently asked questions.

Having information on your social media accounts can help you answer the hot questions your leads ask without taking it to direct messages right away.

Restaurants and food services can include their menus on their social media pages, thereby answering any questions on what they offer and the exact price a customer should expect to pay.

You can explain more about your business by linking your website to your social media. Highlights on Instagram can be great for FAQs, as you can save a permanent question sticker that allows people to go back and ask questions whenever they feel like it — and you can post the answers to your story when applicable and save them to the FAQ highlight.

Similarly, you can put more information about your company in a lengthy about section on Facebook, which also supports direct menu uploading for any business that provides food or beauty services.

6. Con: Social media requires extensive monitoring.

You shouldn’t allow a conversation in your comments to spiral out of control.

When someone has a legitimate criticism, it’s common for brands to reply to let them know their voice has been heard and thank them for the new perspective they brought.

You’ll also want to monitor the comment section for any arguments that break out. You don’t want to give off the impression that your business tolerates hate speech or other inflammatory and offensive things.

You should have a community moderator keeping an eye on your comment sections — or limit them so that only people who follow your account can make comments.

What’s the verdict?

As a business owner, whether your company chooses to use social media should be your decision alone.

If you decide to create accounts on social media, try to focus on the platforms that give you the most return on your investment rather than spreading yourself thin across multiple platforms.

When choosing the person who will run your social media accounts, make sure to pick someone who knows what they’re doing and understands the algorithms. The more you invest in your social media game, the more payoff you’re likely to see.

The post 6 Advantages and Disadvantages of Social Media in Business appeared first on SmallBizTechnology.

While you’ll find many benefits with cloud computing, you might also have concerns over potential security issues. Fortunately, you can embrace the advantages of cloud computing and managed siem while still keeping your small business and your customers’ private information safe.

Look into ideas such as hybrid cloud computing, which costs less money and gives similar advantages to companies. You’ll still gain the safety net of a third-party provider, but for a fraction of the cost.

Here are some things to keep in mind when considering whether cloud computing is a secure option for your small business.

1. Train your workers to identify attacks.

Phishing usually starts with an email made to look as though it’s from an official source.

Teach your staff to go directly to a website and never click on links within an email. You can significantly reduce social engineering attacks by training your workers to recognize them.

Phishing can also look like an email from someone higher up in a company, but will actually be from someone trying to gain access to accounts. It’s always best to double-check requests for passwords or personal information by calling the other employee directly.

According to Verizon’s 2021 Data Breach Investigations Report, approximately 36% of breaches come from phishing attacks. Phishing is quite avoidable if you train your workers to recognize and avoid it.

2. Install virus and malware protection.

Make sure every device used by your company or its employees – even remote workers – has the latest virus and malware protection installed.

One of the biggest threats to the computing safety of your small business is workers not protecting their accounts. Hackers can do a lot of mischief if they get their hands on login credentials.

Make sure any device used to access accounts has protection installed. Remote workers may need to go through IT to ensure they add two-factor authentication and install all available software.

Companies should provide protection and follow up frequently to be sure it gets installed and updated properly.

3. Insist on strong passwords.

One way people allow hackers into their accounts is by reusing passwords, not changing them frequently, or using easy-to-guess combinations.

At a minimum, you should change all your business passwords every few months, including any passwords to cloud computing software.

Encourage employees to use passwords that aren’t easy to guess and contain lowercase letters, capitals, numbers, and characters.

Don’t forget to watch the passwords you use for software as a service (SaaS) applications. A company with under 500 employees uses as many as 123 different SaaS apps.

For example, if you use several different websites for various tasks, make sure you change passwords when an employee leaves or you terminate them. Not keeping up with passwords opens your business to vulnerabilities.

4. Set clear security policies.

Avoid confusion over security protocols by setting some policies.

What happens to customer data when you no longer need it? How often do you change passwords? Are there tiers to data access?

Figure out what works best for your organization and set the rules. This helps current and future employees know what’s expected of them.

5. Comply with all applicable laws.

Know the rules surrounding data protection.

For example, if some of your customers reside in the European Union (EU), you fall under the General Data Protection Regulation (GDPR) and must comply with the rules or face fines.

States such as California have similar standards. Your state and local governments may vary, so be sure to check any applicable laws.

You also must comply with laws in areas where your out-of-state customers reside.

6. Set a budget.

McKinsey & Company recently noted most companies plan to have $8 of every $10 in their IT hosting budget go toward cloud hosting by 2024.

The pandemic brought many companies online with cloud access for remote workers they weren’t planning to implement yet.

The increase in data means an increase in online criminal activity.

So, is cloud computing safe for your small business? The answer isn’t always the same, but most cloud hosting providers invest quite a bit of money into the most recent security measures possible.

It’s likely as safe as any other method of storing data, short of keeping information only on paper, which isn’t practical. Set a budget that meets your company’s goals. You can always increase it if you feel your data isn’t safe enough.

Is cloud computing safe or not?

Cloud computing is as safe as any other form of digital data storage.

You should ensure any companies you hire have the latest in safety standards and security. Take steps to protect your information, such as training employees and frequently changing passwords.

With some good security practices and awareness, it’s much less likely that you’ll face a data breach.

The post Is Cloud Computing Safe for Small Businesses? appeared first on SmallBizTechnology.

Let’s talk about lighting’s influence on small businesses and how you can choose the right technology for your company.

Light as a Functional Business Tool

Proper lighting assists with two essential business functions: employee productivity and energy efficiency.

LED lights work best because they consume less energy and have longer lives than other light bulbs, making them more efficient and cost-effective.

As a general rule, LED light sources with cool temperatures that shine softly over the office space will bode better for employees than bright, hot, overbearing fluorescent lights.

However, the recommended lighting “temperature” to maximize productivity varies by task.

We measure light temperature through Kelvin (K), which is the standard symbol for thermodynamics. Use this guide as a reference:

• 3,000K or less: Warm lights with red to yellow tones.
• 3,100 to 4,600K: Medium lights with pale yellow to white tones.
• 4,600K or more: Cool lights with blue-white tones, also known as “daylight colors.”

Warm lights create a relaxing atmosphere, which benefits break rooms and other intimate social settings.

The middle range isn’t quite as relaxing, but it has a welcoming mood and promotes alertness. This combination works best in conference rooms, lobbies, and other open areas.

The coldest lights lower melatonin and thus boost productivity, which makes them the best options for employees’ individual workspaces.

Fixtures and Bulbs: An Investment in Your Employees

Small businesses should incorporate all light varieties and fixtures into rooms throughout the office to get the most out of each setting.

This widespread change won’t be easy and will cost more than a standard lighting setup, but the long-term return on investment will pay off.

You can also offset LEDs’ high buying price with a free light source that businesses often forget about: natural light.

Natural lighting falls into the cool category. Natural light boosts serotonin, which gives you more energy and keeps you focused. Moderate exposure also has numerous benefits to your physical health. It’s a perfect solution for your business’s main workspace.

Open up your windows and let the sunlight shine through. Angle the office furniture to get sufficient exposure.

If possible, you could also renovate your building to have wider, longer windows and mix in a few skylights. Any way to maximize natural light in your workspace is a worthwhile endeavor.

Lighting as a Design Tool for Small Businesses

An LED-sunlight combination won’t just benefit your day-to-day business operations. It will also improve your office’s design, make your building more aesthetically pleasing and improve the client/customer experience. Proper lighting positively influences their behavior and helps make your interactions with them more productive.

When visitors enter your building, they should feel welcomed and get an immediate sense of the office’s ambiance. To establish the ambiance, you must layer your lighting effectively. There are four types of layering you can integrate:

• Diffused: Subtle lights that allow people to move around the space without restriction.
  • This function creates a sense of comfort and well-being that guests will appreciate.
• Perimeter: Lights that shine vertically make the room appear more spacious and make occupants feel more aware of the scope of their surroundings.
• Task: These lights shine on a specific area, but they’re most effective when working in unison with diffused lighting to illuminate workspaces.
• Accent: Small fixtures that highlight shapes, textures, and colors throughout the building.
  • Their dispersion is more concentrated and intense, cutting through the other layers to create visual contrast.

The feelings these layers create — comfort, awareness, and intensity — clash with each other. Still, this complexity establishes ambiance in a building. Employees and guests will notice the different layers and feel more immersed in the office setting.

To pull off all four layering techniques, install various light fixtures — lamps, pendants, recessed lighting, etc. — to add new dimensions to rooms. Use the different types of LED bulbs to illuminate your building with multiple sources of light dispersion. Highlight product samples, signs, artwork, and other design details throughout the building.

Make Your Small Business Shine With a Range of Technologies

Effective lighting is both a functional and aesthetic tool. It’s scientifically proven to boost employee productivity and improve the customer experience.

A greater reliance on LED and natural lighting will also take a significant chunk out of your energy bill. However, you must incorporate a variety of temperatures and design elements to make it work. Test all of the details we discussed to find the perfect lighting and make your small business shine!

The post Small Business Lighting Technology: Your Subtle Productivity Tool appeared first on SmallBizTechnology.

Help is on the way! Here’s how you can foster a meaningful connection among your hybrid workforce.

How Connections Define a Workforce

The world might get more digital by the day, but the human connection will always be a fundamental part of the business.

Solid relationships between employees, both in-office and remote, can improve a business’s daily productivity and help build a winning culture.

Remote and hybrid schedules can interfere with productivity. A reported 54% of remote employees have difficulty connecting with their co-workers because their work setting leaves them physically and socially isolated. As a result, they don’t get the same engagement, and the quality of their work can slip.

Aside from productivity and quality, inconsistent engagement among your workforce can bring down other facets of your business, including:

• employee retention;
• career advancement; and
• creation of employee networks.

How to Foster Connections in Your Hybrid Workforce

Leaders in human resources say a tightly knit group of employees contributes more to productivity than education, experience, cognitive ability, and personality.

With that in mind, you must find innovative ways to keep your hybrid workforce included and connected. Though you might not see their faces as often, they’re every bit as important to your company’s operations as full-time office employees.

1. Emphasize purpose.

Keep your hybrid employees focused by emphasizing purpose. People who find purpose or meaning in their jobs are more engaged and likely to stay with their organizations. You can instill purpose in the following ways.

• Structure your onboarding program with chapters, checkpoints, and measurable goals.
• Encourage them to share winning stories and the progress they’ve made.
• Let them try new things and tackle new projects as they improve.
• Provide frequent feedback.
• Constantly remind them of the bigger picture (how their job makes a difference).

Since hybrid employees often work alone, they might have to interpret instructions on their own. You should establish clear responsibilities and expectations to help them understand the scope of their position.

The tips above will keep hybrid workers engaged from day one and make them feel like an integral part of the team.

2. Keep your communication lines open.

A major factor contributing to the hybrid workforce’s sense of isolation is the lack of communication with peers and superiors. If you’re not careful, your company can become siloed and develop an informal hierarchy…with hybrid employees at the bottom.

To prevent this from happening, you must keep your ears open and reach out to all employees, so they feel heard.

Check your email inbox, give them your cell phone number, and hold periodic check-ins to see how things are going. You don’t even have to talk about work. Just provide them with the opportunity to speak their minds.

When hybrid workers can confidently communicate with their co-workers, they feel more in-tune with the rest of the office and can establish a network to help them advance their careers.

3. Use collaboration tools.

Communication goes far beyond emails and phone calls these days. You must also include collaborative communication methods so your employees can see each other’s faces and engage in group discussions. The following tools can help.

• Instant Messaging Apps: Apps such as Slack and GroupMe allow your entire team to stay on the same page and give different departments their own group chats.
• Video Meeting Rooms: Google Meet, Microsoft Teams, and Zoom are platforms where your workforce can socialize remotely. They should hold a video conference bi-weekly or on another regular schedule.
• Cloud-Based Storage: Use Google Drive or Microsoft Office to store all of your business’s work and relevant documents in one place. Your employees can create, edit, and share their work with ease, establishing chemistry and camaraderie.

Connecting hybrid workers through group messaging, video conferences, and easily accessible documents makes them feel less like a separate group and more like part of the team.

4. Establish rituals and traditions.

From inside jokes to holiday parties, company traditions play an important role in creating a vibrant office culture. Since hybrid employees can’t always participate, you need to create alternatives for them. Some examples might include:

• shoutouts in emails and video meetings;
• personalized birthday and holiday messages;
• food deliveries to remote workers’ locations; and
• online multiplayer games.

You should also invite hybrid workers to events outside the office, such as fundraisers and happy hours. Make them feel welcome.

5. Create a mentor program.

Assign every new remote/hybrid hire with an in-office supervisor to guide them through the first few months of the job.

It’s difficult for hybrid employees to mesh with the company culture and day-to-day operations because they constantly change environments. A mentor establishes continuity with their schedules and acts as a helpful resource for them.

The hierarchy of employees can be unclear for hybrid workers, but a mentor solves this problem.

Instead of wondering who they need to report to, they can always look to their mentor for assistance. The mentor can also help them set goals, track progress, and potentially advance within the company.

One close working relationship can make all the difference. Set your hybrid workers up for success with an experienced coach.

Keeping Your Hybrid Workforce in the Loop

Isolation and lack of engagement are the main factors that contribute to a hybrid employee’s lack of productivity.

You can alleviate these problems by instilling a sense of purpose, using various lines of communication, and allowing them to collaborate with other workers seamlessly.

You can also make them feel welcome by including them in company rituals and traditions and giving them a mentor. Make them a part of the office loop, and they will be able to establish meaningful connections.

The post How to Foster Meaningful Connection Among Your Hybrid Workforce appeared first on SmallBizTechnology.

Read on for more about how Google Analytics can help your small business run more effectively and increase your online sales.

Segment your audience more accurately.

For any type of small business, Google Analytics can give invaluable insights into customers’ online behavior.

If you keep track of your website’s analytics long enough, you’ll start to notice different demographics engage in different browsing patterns as a result.

Particularly, here are some metrics you should look for to identify these patterns.

• Interactions per Visit: How many web pages a user visits in one session.
• Return Visitor Conversion: How many users return to the site a second time.
• Bounce Rate: The rate at which users leave the website without completing any actions.
• Conversion Rate: The rate at which users complete an action on the website.
• Pageviews: How many users visit a webpage.
• Average Session Duration: How long users stay on a page.

Users of different ages and backgrounds will interact with your site a little differently.

So, the more information you have about their behavior, the more accurately you can segment them. Then, you can create more individualized marketing campaigns and get higher conversion rates.

Along with Google Analytics, any small business owner should use a customer data platform (CDP) to track and archive consumer data. It’s important to have easy access to all relevant data to make informed business decisions about your marketing efforts.

Create a more personalized user experience.

With clearly defined audience groups comes a more personalized user experience for each segment. This is extremely important for different age groups, as their tools and technical skills can vary.

For example, younger generations use mobile devices for most of their browsing. So, your online content and marketing campaign must be mobile-optimized to fit their habits.

Personalization is important. But, all of your content still needs to work together to attract as large an audience as possible. For example, Millennials (people aged 23-38 as of 2019) now make up the largest portion of the United States workforce. Thus, most of your online content should have conversational language and a lot of graphics to appeal to them.

You can easily personalize standard marketing tactics, like social media posts and emails, to appeal to a group’s needs and habits.

To do this, include videos, images, language, and pop-culture references that resonate with your target audience. You can also use analytics to:

• identify unusual browsing patterns;
• determine what kind of people participate in those patterns; and
• tailor your content directly to that audience.

Predict future market trends.

Google Analytics lets you monitor trends in your website’s traffic, no matter how small your business and its traffic may be.

Over time, you’ll gain a better understanding of what your customers want, when they want it, and how they want to obtain it. Every business experiences these patterns, no matter their product or service.

For example, your website’s traffic might spike around a specific season or holiday. Google Analytics gives you the information to foresee the spike in plenty of time to prepare your small business with an effective marketing plan.

Cut costs and increase revenue.

With a narrower target audience, more personalized content, and a look at future market trends, you can accomplish two tasks at once.

• Cut costs.
  • First, Google Analytics helps identify content that’s too expensive or unnecessary.
  • Thus, you can remove anything that isn’t pulling its weight to cut costs and streamline your business model.
• Increase revenue.
  • Also, Google Analytics gives you the data to make the right changes to your marketing strategy, encourage sales, and thus increase revenue.

By properly using analytics, businesses have seen a 10% decrease in total costs and an 8% increase in profits on average. Clearly, planning and executing your business plan becomes much more straightforward when you can see real numbers showing your customers’ behaviors.

Support your team.

Analytics also gives you helpful information about your employees’ performance.

You can see which people generate the most traffic and revenue, and which are lagging behind. This data lets you allocate your resources and help struggling employees pick up the slack.

Over time, you should see more consistent productivity across the board and a more supportive work environment.

Optimize your small business with Google Analytics.

Google Analytics gives you raw data about your small business and its relationship with your customers. And with the right information, you can identify unique market segments, create more personalized content to improve the user experience, anticipate market changes, and thus increase sales.

There’s no better time to start optimizing your small business with Google Analytics!

The post How Small Businesses Can Use Google Analytics to Increase Sales appeared first on SmallBizTechnology.

The traditional brick-and-mortar model will no longer work to stay afloat during challenging economic times. However, technology will play a pivotal role in bringing businesses closer to their customers and achieving their short- and long-term goals.

Here’s how small or medium-sized businesses can level the playing field and compete with larger companies by using various types of technology to achieve their goals.

Why Should SMB’s Utilize the Latest Technology?

The 21st century brought many changes to the business world. One of the most important is technology.

New technologies continue to emerge, and the businesses that use them often perform better than those that do not. However, it’s vital to consider which technologies are worth investing in — some may offer more value than others, depending on the industry you serve.

It’s crucial to perform a cost-benefit analysis before choosing to adopt the latest technology, whether it’s artificial intelligence (AI), customer management software (CMS), or fleet management software (FMS). This will help guide your decision-making process and justify adopting new technologies to reach your bottom line.

These are some basic benefits your small business can reap when utilizing the latest tech:

• maximize profitability;
• achieve higher levels of productivity and efficiency;
• improve your lines of communicationi
• enhance your security measures; and
• provide quality customer service.

How Can Small Businesses Leverage Technology?

Here are some ways small businesses can use technology to level the playing field and capitalize on the positive aspects of their operations.

1. Use cloud-based solutions.

One benefit of using cloud-based technology solutions is that you can easily access sensitive company information without worrying about cybersecurity threats. Cloud-based platforms are extremely secure, in addition to being scalable. Hence, you can operate efficiently without experiencing cyberattacks as your business grows.

There are many cloud services you can research to learn more about how they might benefit your business. Examples of cloud services include Microsoft Azure, Google Drive, and Dropbox. Cloud services are useful and will help you compete with larger companies, whether sharing files with team members or collaborating on a project.

2. Establish a remote workforce.

With the transition to remote work taking place globally, it’s no wonder that more companies are establishing remote workforces. Hiring home-based employees is nothing to fear — in fact, they tend to achieve high productivity levels.

Remote teams need tools to help them accomplish daily tasks, so determine if you want to use company-issued technology like laptops or tablets or adopt a bring-your-own-device (BYOD) policy. You may want to consider using employee monitoring software such as Hubstaff, Teramind, or ActivTrak.

3. Utilize artificial intelligence (AI) to streamline workflows.

Large companies across several industries leverage AI because the benefits make it a worthwhile investment.

For example, Twitter uses AI and natural language processing (NLP) to sort through tweets and find the most relevant, appropriate content for its users.

AI can streamline workflows, automate basic tasks, and help bridge any gaps between you and your customers. It may be costly to implement initially, but it could positively impact your business in the long term.

4. Reach more customers with email marketing campaigns.

Did you know that six in 10 millennials would prefer watching a video attached to an email rather than reading a company newsletter? In addition, the same research shows that one in two millennials will interact with an email that contains a video element.

Email marketing is a tried-and-tested method that many companies leverage to reach new and existing customers. Large companies often have customers sign up and agree to receive emails with discounts attached. You could be missing out on a substantial audience if you choose not to use email marketing as a core strategy. Consider using tools like Constant Contact, MailChimp, or MailerLite for your campaigns.

Leveraging email, company-issued devices, AI, and cloud-based services can help bring your business to the next level. Your company may be small, but today’s landscape is more about the strength of your technological muscle.

The Future of Small-Business Technology

There’s no denying that the COVID-19 pandemic has disrupted many industries, and small businesses were among some of the hardest hit during this time. Thankfully, it seems that consumer attitudes are shifting in their favor.

People have rallied around small businesses to help them survive this ongoing pandemic. For example, this year, 49% of consumers planned on shopping at local stores for Small Business Saturday. According to the same research, 63% agree that the pandemic has strengthened their loyalty to smaller companies in their region.

Leveraging technology to meet ever-changing consumer expectations and demands will help your business outperform its competitors. Consider implementing new tech to reap all the benefits it has to offer.

The post Small Business Technology Can Help Level the Playing Field appeared first on SmallBizTechnology.