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Here’s How I Grew Five Businesses, and Eventually Sold One to a Fortune 500 Company.
5 Digital Technologies to Help Scale Your Business
First of all, congratulations! You’ve taken a big jump, completed the necessary tasks, and started a flourishing startup. It might’ve been an arduous task at first, but you gracefully did it. However, starting a successful business is only the starting point of a challenging yet rewarding journey. Digital technologies play a big role in the success of your company.
If you’re lucky enough, your small business will keep on growing and thriving. This is good news, of course. However, this growth often comes with complexities. Sooner than later, you won’t be able to manage everything on your own or with only a small team at your side.
According to Fortune.com, 23% of small businesses and startups failed because they couldn’t form the right, and 17% didn’t have a compelling business model. Therefore, scaling your business is crucial. This will help you sustain that growth cost-effectively and efficiently.
Scaling your business yields many benefits, including having a competitive edge and maintaining business longevity. However, most businesses don’t have any idea where to begin. Luckily, there are tons of software solutions out there to help you start the scaling process. Below are some of the digital technologies to scale your business effectively and efficiently:
- Digital Asset Management (DAM) Software
DAM software is a software solution responsible for accomplishing particular tasks, such as:
- Integration with other software solutions to streamline, centralize, and automate operations
- Facilitate effective rich media file management
- Simplify sharing assets across different departments and external users
- Eradicate duplicate assets to boost brand consistency
These features can help your staff find and retrieve the digital files they need in a matter of minutes. This will help them spend their time more efficiently and productively. Also, it ensures that everyone will have the most updated versions of rich media files.
Finding the right DAM software tool for your company doesn’t have to be overwhelming. All you need to do is to look for these features below, such as:
- Simple yet useful smart search features
- Simple user groups
- Streamlines uploading and organization of digital assets
- Countless guest seats
- Integration with other software solutions
- Options for customization
- Customer Relationship Management (CRM) Software
It’s important to focus on increasing your revenue when you scale your business. However, this doesn’t mean setting the experience of your customers aside. After all, horrible and terrifying customer service won’t contribute to the success of the process.
Most businesses often ignore providing exceptional customer experience when they’re growing at a fast rate. It’s crucial not to make mistakes that’ll disconnect you from your clients, bringing the growth to a pause. Instead, you’ll need to:
- Listen to what they have to say through feedback and reviews
- Foster strong relationships with them
- Reply to their queries promptly
However, your customer representatives will find it challenging to fulfill all of these as your business and subsequent clientele expands. So, to help them be productive, you’ll need to invest in a CRM software solution. With this platform, your staff will be able to do a lot of things without fuss, such as:
- Improving lead generation
- Managing both inbound and outbound communications effectively
- Improving customer service
- Using analytics to ensure good performance
With a CRM software solution, scaling your business won’t be as difficult to accomplish.
- Communication Software
Effective communication is crucial for the success of both small, medium, and large enterprises. Otherwise, the productivity and efficiency of the company will be severely damaged. In addition, this has become more critical today as many businesses have begun adopting the remote working system.
However, maintaining effective communication is a challenge when scaling a fast-growing business. This is most likely due to the following reasons:
- Sudden shifts in communication processes
- Newly hired staff struggling to raise questions and figuring out whom they should report to
- Existing employees having difficulties adapting to unfamiliar communication systems
This is why investing in communication tools is highly recommended, enabling you to execute effective and prompt correspondence between different teams. Thus, it saves you a lot of time and improves the overall productivity of your staff. These software solutions also foster great relationships between your employees by encouraging collaboration among them.
- Marketing Software
These days, establishing an online presence is crucial to the success of your growing and expanding business. It allows your company to maintain its competitive edge and scale its operations effectively. However, this is no easy task to accomplish because marketing itself is time-consuming and complicated at the same time.
This is why using marketing software solutions is highly advisable once a compelling marketing strategy has been developed. With this, your business will be able to drive more conversions, expand your revenue in the digital realm, and generate more leads. Also, these tools spark online interaction, boosting your presence on social media, promoting your content, and improving your email marketing.
Here are the features you need to look for in a compelling marketing software solution:
- Tracking web traffic and visitors
- Generating marketing content
- Nurturing and qualifying leads
- Automating lead assignment
- Creating forms and landing pages
- Managing contacts effectively
- Lead segmentation
- Email marketing
- Project Management Software
Scaling your business often produces a lot of trials. One of these is to ensure that all your employees remain as efficient as possible. However, it may also increase the likelihood of information getting isolated.
Unfortunately, this happens a lot in most small businesses and startups because of the basic solutions they employ. So, when attempting to scale their operations, it becomes difficult for them to manage everything in an orderly manner. This is where project management software solutions come into play.
With project management tools, you can automate your processes, align different departments, and maintain ever-growing records and data. It also allows your employees to better handle an increasing work volume.
Final Words on Digital Technologies
Starting and growing a business can be overwhelming and stressful, especially in today’s competitive landscape. Scaling your business to increase sales and revenue is an even bigger challenge. Luckily, this task has been made less daunting, thanks to the digital technologies that make the scaling process easy to manage. Above are the tools you’ll need to maximize to scale your business effectively and improve your business profitability.