DIGITAL TRANSFORMATION

Technology is King in a Post COVID World

Businesses with a strong online presence have emerged as the winners in a COVID world where automation of ordering, bookings and ease of doing business has provided a boon for small businesses currently negotiating a world where the economy has most definitely shrunk.

In case you have been living under a rock, cash is dead and 70% of transactions are split between credit and debit cards as well as a burgeoning tranche of transactions (typically clothing, electronics and fashion services) above $100 that are now the domain of a suite of buy now pay-now, pay later providers.

The need for businesses to adapt to digital is critically important to not only survive but indeed thrive.

The five-year survival rates of the state’s small business sector is only marginally above 50% according to data compiled from the Australian Bureau of Statistics.

For many sole proprietors the foray into being digital ready starts and finishes with mixed success in developing a website, social media presence and finding time during the day to maintain and update content of the business’s newly minted digital infrastructure.

More often than not, many business websites don’t complement needs but rather act as a place where sales people offering products you don’t need get hold of your phone number.

Simply put, digital adoption is at its core about allowing you the business owner to improve sales and attract more customers.

The golden rule of cash flow still prevails in a world where profitability all but now takes place via a digital medium.

Essentially the owner of the business needs to assess the following:

 1) What can technology do to automate the mundane parts of my business?

For example, an automated booking system for a hair salon can feed into the likes of a MYOB or Xero accounting package factoring in GST and end of day reconciliation with a business bank account?

2) Attracting customers requires visibility and engaging the right expertise

The days of DIY websites may have favour with bloggers and aspiring influencers but are increasingly coming to an end for businesses that need things to work. The beauty of Apple’s product offering is its seamless integration with its other product. The reason the iPhone remains for many in Australia the phone of choice is the fact it integrates with the iPad, Apple TV, Apple Watch and Mac computer.

Investment into the right web presence results in being the business that appears at the top in terms of search results on google and ultimately gives the business the best chance at securing its next customer.

According to Google, 75% of users don’t scroll past the first page. Expertise in attaining top results via search is relatively inexpensive and well worth the investment.

3) Getting the technology mix involves research and tapping the right expertise. Look out for a future lowdown on social media.