A Software First Future
The business world is changing fast, bringing with it Google and before you know it, it becomes the primary means for consumers to find what they want from today’s brands.
Google allows for businesses to build websites, most but not all businesses have caught up to larger enterprises and now own one, creating an extremely competitive digital ecosystem with companies that fail to adapt disappearing almost overnight.
So how can we adapt?
The cloud gives businesses the competitive edge they so desperately need to stay ahead, powerful business software is available to all enterprises even the smallest.
Prior to now, it was available to only larger businesses and required an installation on a local computer, making it challenging if not impossible to work collaboratively or remotely. The cloud and the software as a service (SAAS) business model has turned that on its head.
Small businesses now have access to powerful software that can be accessed largely via mobile apps, empowering small businesses with tools that level the playing field.
Although not all SMBs (small and medium sized businesses) are embracing the cloud, and it’s a safe bet if you ask some business owners to describe the cloud, they’ll glance up at the sky.
“The shift to the cloud is generational”.
Today’s start-ups want powerful tools, they want them on their phones and in the cloud. They will expect tools that deliver actionable insights and they will buy packages of solutions, integrated and with bundled pricing advantages. Lastly, they probably won’t want to talk to you. You’ll be much better off sending a text.
The implications of this shift for those selling products or services are profound. I hope this article will help you see the coming shift. Software first, cloud based, marketing and operations software for your Business in 2020.
A young business operator is more than 6X more likely to be in essence running his business through his phone than a business operator in the 55-64 age range. This generational shift is profound and has the potential to change everything about how we go to market within the digital space.
“Businesses with younger operatives are far more likely to have moved at least one business function to the cloud than those with older decision makers.”
Data and evidence suggests younger business operators want to use cloud based applications to run their entire businesses. They won’t consider any platform that isn’t centred around a mobile app. They put more of their trust in software first brands. They appreciate solutions that are integrated. And, they want to be made feel as important as how a big brand would treat them, fast, responsive and a much more honest customer approach. How can this be possible?
“The Cloud!”
We cite data from Renewably’s experience, which commissioned this article, showing the correlation between various behaviours and businesses retention.
“Small businesses have it tough. They do not have the software expertise that they so desperately need.”
In other words, this may be the best time to start a new business process or system to take away time consuming tasks that a programme can easily manage. Mobile apps, cloud technology and the SaaS business software make it easy (in theory) and less expensive to acquire or to conduct the basic tasks that keep a business running more efficiently in today’s economy.
For example, today a business can get a Freshbooks App to track their accounts, whatever comes in and whatever goes out, and make sure taxes get paid. They can use Shopify or other relatively inexpensive ecommerce tools to turn websites into online stores.
They can put a Square terminal at the front counter to collect money, as well as customer data that can feed into a loyalty system or CRM. They can borrow money through services like Square and Shopify, both of which have expanded into lending.
Such software apps are also renowned for acquiring new customers and turning them into repeat customers. You can access robust software to manage your online presence and reputation, run email marketing campaigns, and know exactly when to send customer reminders. You can book appointments through your website with ease and look at data you never knew you had.
“You can develop software to manage anything.”
There is a growing number of companies offering a suite of business apps aimed at creating a single trusted source to run the entire business. Solving this cloud confusion for businesses is a huge opportunity for innovative companies to step in and make it easy for small business owners to leverage technology and level the playing field with bigger brands.
The Importance of Software First
As the small business world evolves, with The Cloud running the show and the nature of work becoming increasingly cloud and mobile centric, the centre of pull in the local ecosystem appears to be less media and more software focused.
What does software first mean? Software first companies are born to deliver a technology solution to a business, not a media product. Software first companies are product driven.
“Renewably has found a direct connection between products and churn (customer retention). If a client only uses a fraction of the apps functions in our platform, and as long as they are using more than one, preferably several, the ability to retain customers skyrockets.”
Renewably is launching its own app in the marketplace, and has integrated more than 30 apps to date. Click here to book a call!
Sales is Transforming (Again)
Customer acquisition is becoming and will become more inbound and automated. The latter is particularly true, where businesses are paying little or nothing for basic SaaS products today. SaaS products for basic business operations, be it for marketing, CRMs, payments, accounting, HR or supply chain can be directly integrated to your website.
Self Service Sales is the Norm in SaaS.
Engagement Drives Retention
Customers who engage early have a 20% increased retention, customers who engage once per week have a 28% increased retention rate.
Software First The market is changing fast in ways that fundamentally change how we as companies sell to and service businesses.
The Cloud Shift The transformational changes affect business, brand and culture for the better. You may need to consider rebranding, but a superficial rebrand without changing your culture to reflect the new brand ethos is meaningless.
Stress Test Your Customer Experience This includes how you communicate with customers, the software you use to run your business and your customer support process.
Always be moving forward It isn’t necessary to build everything yourself.
ABOUT THE AUTHOR
Cal Chesters
– Founder, CEO of renewably
Cal Chesters, Founder, CEO of Renewably With nearly 10 years’ experience in technology innovation, Cal is the driving force behind Renewably. His multidisciplinary background in product design, sales and professional services brings together key elements necessary to deliver the company’s IT process automation solution that has proven to be a force multiplier for businesses facing operational IT and even cybersecurity challenges. Since founding the company, Cal has advanced his thought leadership in IT automation and been dedicated to setting the company on a path to strong growth and validation. The Renewably platform continues to earn accolades from customers, partners and industry experts. Prior to founding Renewably, Cal held various operational and management positions at successful enterprises, improving communications has always been his vision and goal.