Is adoption of new technology giving your business a competitive edge or a headache?

In a recent survey by Dell, 77% of SMEs said that technology is key to their success.

Introducing digital change to your business can be both challenging and rewarding, often requiring operational, cultural and technological change.

A strategic top-down approach is essential for establishing priorities, along with new technologies being embedded into your business to ensure consistent information flows and well-informed decision making.

5 key areas that SMEs should focus on are:

1. Digital Strategy: Do you have a holistic view and plan for digital technologies? Technology can be the ‘beating heart’ of an organisation and prioritising how digital channels and technology will allow your business to grow and evolve is key along with a strategic plan linked to business objectives.
2. Digital Marketing: Is your marketing strategy underpinned by digital channels? Do you know which social media works for your targeted demographics? Facebook, Twitter, Google Plus, LinkedIn, Pinterest. Do you use other digital channels? Pay-per-Click, Adwords, blogging…Understand how your digital marketing will integrate with your marketing as whole.
3. e-Commerce: are you making the most of e-Commerce? Whether your business is in retail, B2C or B2B, you should fully explore how on-line sales channels can increase revenues. E-Commerce is continually evolving and actions to consider include: Search Engine Optimisation, Conversion Rate Optimisation and Cart Abandonment.
4. Google Analytics: Web analytics provide valuable insights as to where visitors are coming from and what is effectively converting visitors into customers. With e-Commerce analytics, this extends to shopping baskets, checkout and payments. Analytics underpins digital marketing and e-Commerce and needs to be an integral part of your business.
5. Data & System Integration: A dry subject? Yes, but ultimately your business requires accurate and timely information. If you have disparate systems ensure that you have a strategy for managing data as a single source – your ‘Master Data’ is critical and data governance is particularly critical when introducing new systems into your business.

Whilst new technology will continue to change the way that we work, successful change in a business is ultimately about how people make use of the new technology and adapt their working practices.

Check List

Take time to understand how your business is currently using digital technology and consider these 5 actions:

1. Develop a Digital Strategy and link this to a prioritised action plan.
2. Understand which Digital Marketing Channels are optimal for your business.
3. Improve your use of e-Commerce and increase revenues through site optimisation.
4. Ensure that you are making full use of Google Analytics – it is free to use!
5. Link your on-line and in-house technology to ensure data consistency across your business.

Make sure that technology is not just used for technology’s sake but linked to your digital strategy and ultimately underpins your business objectives.

Julian is running a number of Chamber training courses. The ‘Planning e-Commerce: Successfully investing in on-line business’ is on the 4^th of September. If you are interested in attending please follow this link.