Digital transformation and buyer focus: the bets of SMEs to develop in a difficult state of affairs
Thanks to the digital transformation, SMEs have managed to grow and differentiate themselves from the competition
Since March 2020, with the advancement of pandemic, We had to face several challenges. The scenario of small and medium enterprises in the country it was no different. Because they have smaller businesses and income when compared to multinational giants, for example, SMEs they should devise precise strategies to “survive” the economic crisis. Many trusted the digital transformation of their internal and external processes, and the bet was right.
According to the 13The edition of Sebrae Research — The Impact of the Coronavirus Pandemic on Small Businesses, rising costs and a lack of customers are the challenges for SMEs to return to their pre-pandemic financial situation, which translates into sustaining the business with a healthy margin. Technology applied to sales, marketing, and customer service increases efficiency, decreases expenses, and also makes customers more loyal because of a much more immersive brand experience.
Offering a complete and, above all, humanized digital experience has become even more important for companies. For this reason, such investment in new technologies and processes was and has been one of the main focuses of SMEs, which seek to continue with their business and stand out from competitors.
According to the report Small and Medium Business Trends, released by Salesforce, SMEs around the world made investments prioritizing the experiences of their consumers. Of the companies, 35% decided to start selling their products virtually, aiming to meet the expectations and needs of their consumers. As well as enabling a unique and continuous experience through several digital channels, with self-service resources and agility in their interactions.
Also according to the study, 71% of small and medium-sized companies confirmed that they survived the pandemic due to digitalization. However, despite positive feedback and results, using technology to enhance internal and external resources is challenging. Almost all companies participating in the report (95%) said that security plans were necessary to protect customer and company data from hackers, for example.
For the famous unicorns, the scenario was also challenging. Credit has become scarcer for operations (as well as for investments and consumption), and investors are looking for a very clear and much faster return on investment. In this context, a review of how digitized — and integrated — processes can deliver more productivity and accelerate the path to profitability becomes part of the argument with potential investors.
Many companies are looking for alternatives to consolidate their customers’ vision on a single platform — creating a consistent journey for their customers in processes that involve different areas of the company. Such an approach reduces data silos, which generate complexity, high investments and duplicate information in the integration between platforms.
From the scenarios presented, it is important to highlight the fundamental role that digital transformation has played in small and medium-sized companies in Brazil and in the world. Entrepreneurs concluded that it would only be possible to continue their business if the company’s routine was digitized, meeting customer expectations and enabling loyalty during periods of uncertainty.
From now on, the scenario is promising for SMEs. In Brazil, for example, events like the World Cup and, mainly, Black Friday kept the market warm for a few weeks, leaving companies ready to serve their public after an inconstant period full of transformations. To stay in the game, making good use of technology is at the top of the SME agenda.