Sharpen Your Competitive Advantage: Using IT to Differentiate Your Business

Enhance Your Online Presence:

Today’s customers use online platforms to conduct pre-purchase research like never before. Many SMBs continue to use outdated and sluggish websites, but the customers of today are looking for more. In fact, 79% of customers report that they would be less likely to return to an online site if they weren’t happy with its speed¹. In other words, slow websites lose customers. Getting the right foundational IT infrastructure can help you to develop a website that is modern, fast, and intuitive for customers. Expanding your online presence into social media channels gives you an edge as well, as customers are increasingly using social media to learn about and engage with brands.

Offer E-commerce Options:

Adding e-commerce options is an excellent way of expanding your customer base and taking a larger share of the market. Today’s buyers are picky about their purchasing channels, and 40% of consumers say that they won’t buy from a company that doesn’t offer their preferred channel². With 55% of customers reporting a preference for fully online or hybrid (i.e., combination of in-store and online) shopping, adding online options is a great way of attracting customers away from your competitors³.

Offer Innovative Payment Options:

In addition to preferred buying channels, today’s customers also want to be able to use their preferred payment method when making a purchase. The options for payment methods have exploded over the last several years, and include solutions like digital wallets, contactless payments, and mobile payment solutions. Having multiple payment options simplifies the checkout process for your customers and enhances their experience with your brand.

Personalize the Customer Experience:

Customer relationship management (CRM) platforms allow businesses to retain information about customers that can be used to create a personalized experience. Importantly, 75% of customers say they are more likely to buy from companies that recognize them by name, know their purchase history, and suggest new products based on their purchase history⁴. Customers will want to be assured that their personal information does not fall into the wrong hands, so a multi-layered cybersecurity regimen is a must.

Improve Speed and Accuracy of Service:

The speed and accuracy of your service can set you apart from competitors. Take advantage of solutions like cloud-based project management platforms, collaboration and communication applications, and automation software to amplify productivity while reducing costs. Your business can also optimize supply chain management through the use of IT solutions to manage inventory tracking and logistics, improving both speed and accuracy of order fulfillment.

Add Self-Service Options to Website:

Although customers appreciate and expect companies to provide live communication with company representatives for certain types of questions, for some types of inquiries, customers now show a strong preference for self-service options. Specifically, 68% of customers prefer using self-service options to conduct foundational research and to get answers to simple questions⁵. Such options might take the form of self-service portals on your website, or various fact sheets or knowledge bases that they can access online independently.

By taking advantage of the plethora of modern technologies available today, SMBs can differentiate themselves, elevate customer experience, boost operational efficiency, and gain a competitive edge in the market.