Did you know 41% of small business owners say their business would not have survived without digital during the pandemic?
And businesses are not just surviving with digital but thriving. In fact, the latest Lloyds Bank Business Digital Index shows that businesses which embrace digital are almost twice as likely to have increased turnover.
The report also shows that 61% of businesses intend to continue the new digital habits they started during the pandemic.
There’s no doubt that technology is here to stay. So, what are the essential digital tools that can help your business increase sales, save time, and build resilience?
Here’s our three must-haves:
Increase Sales with social media
Social media is one of the most cost-effective ways to reach new customers online. The number of people on social media worldwide reached 4.55 billion in October 2021, with more than one million new users joining every day, according to Digital 2021 October GS.
So, the bottom line is, it’s highly likely your customers are already on social media, so you need to be on the same platforms they are, engaging with them. Doing so will help give you a more competitive edge online and create better sales opportunities.
A good example of this is niche jewellery maker WoodenGold. Owner Stephen Cichocki recognised that 90% of his customers were on Instagram, and so revised his digital strategy accordingly, after advice from Superfast Business Wales. Targeted social media marketing on Insta linked with an improved website helped his online sales rocket by 837% during the pandemic.
“Building buyer confidence and followers on Instagram meant more customers said, ‘I do’ to my rings, said Cichocki.”
Save time with the Cloud
If you use email, you’re already using the cloud. Cloud-based technology is simply online or web-based tools, which includes things like office apps, productivity tools, data back-up and storage, video calls, and much more. Switching from paper to the cloud, can help you save time and ease the pressure by providing 24/7 easy remote access to your work.
And it seems Welsh businesses are increasingly ditching paper in favour of an online office. The 2020 Digital Maturity Survey Report states that over 70% of Welsh SMEs have made use of basic cloud systems like email, office software, file sharing and storage. A further 47% said they agreed or strongly agreed that access to broadband services allowed them to increase their use of cloud services.
The cloud turned out to be a saviour for one Caerphilly business during Covid. Faced with a loss of income when schools shut and exams were cancelled, tutoring firm Educalis was forced to adopt a different approach or risk losing the business.
By switching from the classroom to the cloud, with help from Superfast Business Wales, it was able to deliver online lessons using Google Classroom and provide a vital lifeline for local pupils.
The move online saved the business and created additional income opportunities with students from further afield signing up for online learning.
“Digital has been a good move for us, and it’s made us ready for whatever the future holds.”
Build Cyber Resilience
Cyber security has been a hot topic of discussion due to the rise in cyber-attacks in recent years. And contrary to popular belief, it’s smaller businesses with fewer staff which are often more vulnerable to cyber threats.
In the last 12 months, companies have experienced 44 cyber-attacks – 1 in every 8 days - within the UK retail sector, according to the 2021 Cybersecurity Census Report.
It is essential to invest time to work out the potential risk to your business if you were to be targeted by cyber criminals. And it’s not just the cost of the ransom you need to consider but also whether you can afford the reputational damage if your customers’ data is compromised.
Following advice from Superfast Business Wales, Tarvin Precision took the proactive step of overhauling its IT infrastructure in 2017 to bolster its online security, and gain efficiency and cost savings.
The move helped the precision engineering firm increase revenue by 20% and expand into lucrative markets.
“We were advised to move all of our machines across to the Windows 10 operating system, which has not only given a degree of consistency but also improved cyber security within the business.
"This is business-critical for the aerospace and automotive industries, and we are in the process of obtaining our Cyber Essentials accreditation to demonstrate our commitment in this area.”
