Author: Jade Payne
Most small businesses are currently moving their operations online to stay afloat. This is evident in how around 71% of small businesses now have a website and about 43% are planning to invest in improving their web performance. Unfortunately, not all small businesses are on the same page.
One of the challenges of small businesses is that they don’t have time to manage responsibilities on top of their existing tasks, such as supervising operations and managing accounting and marketing functions at the same time. Small businesses with physical stores may also have difficulties penetrating the competitive online market. Moreover, building an online presence and engaging with customers requires a different approach to conventional marketing strategies that small businesses may find complicated to navigate. As a result, they can’t properly market their products online and fade into the already saturated online market.
However, with the help of online resources, and in consultation with experts, your business can still thrive and grow in the fast-paced digital world. Here are three essential resources you can utilize for your online business today:
Social Media Marketers
Apart from having a website for your business, having a social media presence allows you to engage and interact with current and prospective customers. If you are accessible on social media platforms, people can inquire about your brand and view your products or services conveniently anytime and anywhere. However, not all social media platforms are created equally, which means you need to develop an effective social strategy that works for your business. A professional social media marketer can assist and guide you in achieving your business goals using digital marketing strategies and tools. For example, they can walk you through media analytics tools, such as HubSpot and TapInfluence, allowing you to track the performance of all your social networks and profiles, monitor the efficacy of your social campaigns, and determine which messages resonate most with your audience. With those, you can effectively market and grow your business online.
Digitization changed the way monetary systems work. Today, customers are going cashless by using online wallets, and some prefer online bank transactions when purchasing items online. There’s also the rising popularity of smart contracts and new digital currencies, like Bitcoin and Ethereum, which are now used to purchase digital items. Therefore, it’s necessary to have the support of finance experts and professionals to help navigate your way through these changes. For small businesses, it’s crucial to consult with financial professionals, like budget analysts or financial managers, as they are experts in deciphering financial information. Budget analysts can help you monitor finances, review budget proposals, and prepare short- and long-term budgets. They can also help you assess future business performance and recommend strategies to maximize your financial resources. Even if you have already made plans for your business in the future, it would be tough to handle all financial-related tasks and documents on your own. For this reason, it’s advantageous for you to consult financial professionals.
Lastly, it’s important to keep your online business secure by investing in cybersecurity policies and systems. In our previous article on why you need cybersecurity, we explained that cybercrime cases are continuously increasing, and this is costing companies millions of dollars each year. Alarmingly, the most common targets of cyberattacks are small businesses that may not have strong network security tools. This highlights how cybersecurity tools are necessary for all organizations, especially if you’re a new or small business. There are various security solutions that allow you to secure your files and data online. For example, we at Cyberium can help you keep your business safe from attacks 24/7. We also offer anti-virus and anti-malware protection, data encryption, real-time monitoring, and threat detection. These are all important since a lack of security solutions can lead to theft of corporate information and financial information, such as bank details or payment card details, and disruption of trading and transactions online.
If you are starting, or have started, a small business we hope the above tips prove useful.