Emerging technologies discussed in this week’s Small Business Week Perspectives blog series are empowering owners and managers with the tools required to run faster and more efficiently, while competing with larger rivals. This week we’ve covered a number of technologies that can help small business owners avoid costly mistakes and run a better business overall.
Here is a summary of four steps that should not be overlooked:
  • Update to next-gen POS solutions: Updated POS platforms enable small business owners to move beyond complex, costly and disparate systems to user-friendly, customized solutions that add convenience and value and boost the bottom line.
  • Implement strong data-security solutions: Knowing that you can protect customer data is vital to remaining profitable and maintaining a good reputation. Implementing the right solutions, which include EMV, tokenization and encryption, to ensure security is an important step not to be overlooked.
  • Offer more engaging mobile loyalty solutions: Mobile marketing and consumer loyalty platforms are no longer a thing of the future, but a tactic that businesses big and small need to employ. These platforms will allow small businesses to engage with their customers using location-based smartphone apps to target messaging and offers while building strong customer relationships.
  • Use analytics to make better business decisions: Analytics tools are now widely available to small businesses, enabling them to capture customer information better to make more impactful decisions. A must have for small businesses, analytics enable owners to compete and can be incorporated through POS systems, as well as mobile marketing and consumer loyalty platforms. Anticipating the needs of customers enables small business owners to change accordingly as preferences shift.
  • Small businesses can’t afford to miss out on implementing new POS systems, protecting data, and using new marketing tools and analytics to stay relevant in today’s retail landscape.