In her role as cofounder and partner at SMB Group, Laurie McCabe has earned widespread recognition for her thought leadership, experience and insights in the SMB technology market.
Here she discusses the technology challenges facing small businesses today and the must-have tools to overcome them. Read on:
What is the mission behind SMB Group? How did you become passionate about helping small businesses?
Both myself and my business partner, Sanjeev Aggarwal, had been industry analyst focused on the small and medium business market for many years. We felt there was a gap in coverage - most IT analyst firms concentrate on technology as it relates to large companies. So we created SMB Group to focus exclusively on how SMBs use technology in their businesses.
What are some of the technology challenges facing small businesses today?
Our research shows that small business goals remain consistent over the years. How do I grow revenues, attract customers and operate more profitabily are always at the top of the list.
But these challenges loom larger today because digital, social and mobile technologies are changing how businesses and customers interact in a fundamental way. Technology shifts power to buyers.
- The internet makes it easy for buyers to do more research on their own before connecting with vendors.
- Social media gives buyers access to ratings and reviews from thousands of other people that have tried a product or services. to .
- Mobile devices put the internet it peoples' pockets for anytime, anywhere access to information.
So small businesses need to have a strategy to evolve and tools to help them meet these rising expectations.
From where you sit, what are some must-have tools for SMBs today?
Of course, every business needs to keep track of money going in and out of the business, so an accounting or bookkeeping solution is often the first type of business software that many small businesses buy.
Today, small businesses also need tools to attract, engage and transact with customers, which are usually called customer relationship management (CRM) solutions. There are lots of solutions out there for small businesses, but I recommend looking for a solution which integrates sales, marketing and service, and enables you to integrate social media interactions into these functions so you can easily bring the voice of the customer into every part of the customer life cycle.
What are the most useful tools for SMBs for mobile and social media marketing?
Most businesses need solutions that let them easily monitor, post and respond to what people are talking about across the different social networks that are relevant to their business, whether via your desktop or via a mobile device. But it doesn't stop there. A good digital marketing strategy connects your website, nurtures leads, includes online and mobile advertising and provides analytics so you can figure out what's working and what's not.
How should small businesses be incorporating mobile marketing into their marketing strategies?
First, they need to recognize that people are increasingly spending more time engaging and transacting on mobile devices than on desktops or laptops. So now is the time for small businesses to create a mobile marketing strategy.
The good news is there are lots of choices out there in terms of how to do this. The bad news is that it can be very challenging to figure out which one is the best fit for your business. So you have to start with an internal assessment. I think having a mobile-friendly website is table stakes for all businesses. From there, think about what you're trying to accomplish For instance, a small local services business, like a salon or dental office, will want something that helps people in their local community find them, book appointments, share reviews, earn loyalty points, etc. within a local geographic area. Meanwhile, for an online commerce merchant selling products all over the world, mobile payments and in-app messaging may be the must-have capabilities.
What SMBs do you think have been especially innovative with their mobile marketing? What can we learn from them? What are the most exciting technology innovations for small businesses you're following right now?
For small businesses, it all boils down to making complex technology solutions easy to use. If they're not drop dead easy, most small businesses won't use them. In the mobile marketing area, vendors are making mobile marketing tools easier and easier to use, while at the same time incorporating more capabilities, such as push notifications, in-app messaging and many more, to help you market your business. Making solutions very easy to use is a key because it enables small businesses - who may be hesitant to get involved with mobile because they are afraid it will be too hard to do or too time-consuming.
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