The way of doing business has changed worldwide; digital tools are an essential part of the development and growth of today’s companies and those that wish to stand out in the future. Platforms and applications that help increase profits, reduce costs, and enhance the efficiency of processes, are the best allies when starting a business.
70% of companies in the United States have begun or are about to start a digital transformation process, according to data compiled by Forbes. But it’s not just about moving to the digital world and forgetting about face-to-face formats; companies with solid omnichannel formats retain up to 89% of their customers, a figure to consider when making decisions.
Using digital tools for the operation, administration, and finances within a company is an investment that will generate returns in the medium and long term. If you do not have the necessary capital to start this journey, turn to small business loans to get financing and achieve a company that works with the accuracy of a Swiss watch.
Financial alternatives for the economic growth of your business
In the past, financial alternatives for companies were limited to those granted by traditional banks, which had the upper hand and decided who had access to financing and who did not. Fortunately, things have changed; with the emergence of Fintech companies, financial services have been democratized and made available for anyone with internet access.
Some of the financial alternatives most used by small businesses nowadays are:
- Online lenders: Institutions that offer financial products such as small business loans with fewer requirements and a simple and fast way.
- Payment managers: These are platforms specialized in processing payments and making national or international transfers for physical or online stores.
- Financial solutions for companies: Accounting, invoicing, and financial management software or platforms are excellent ways to reduce operating and administrative costs.
- Personal finance and financial advice: This type of resource focuses on financial product comparators, automated advisors, education platforms, and financial planning.
Solutions to start your business if you have low capital
Digital tools are not only practical for those who seek to improve their operation, management, and diversify their sales channels, they are also highly functional for companies seeking an economical operating model within the digital world. Ecommerce is one of the most popular sales channels in the world. Currently, its market value reaches 4.28 trillion US dollars and is expected to reach 5.4 trillion by 2022, according to Statista figures.
There are multiple alternatives to venture into this market, establishing an online store on your website, sales through marketplaces like Amazon or eBay, and sales on social networks like Facebook and Instagram. Any of these alternatives are an excellent way to reduce costs when investing in a new business enterprise; you will save on expenses such as rent, maintenance, hiring staff, and even buying inventory if you venture into dropshipping.
Is digital advertising essential to increase brand recognition for your company?
Digital solutions are a fundamental part of business, whether to obtain financial products such as small business loans, manage projects, perform accounting processes, and sell directly in this format, to name a few applications.
Another of the most appropriate uses for digital platforms is advertising. The whole world is on the web; suffice it to say that 302 million people in the United States are active internet users, according to Statista. Using search engines and social media to increase brand positioning is fundamental to the commercial objectives of any company.
Whether through implementing marketing strategies on your own or using resources such as Meta for Business and even hiring premium services from digital platforms such as SEMrush or Hootsuite, are excellent ways to use technology as an enabler for your company.
The use of digital tools is essential to streamline processes, improve user experiences, increase sales, and obtain financing such as small business loans, to mention just a few benefits. Do not wait any longer and start the digital transformation process of your company; companies like living beings must evolve or die.