April Ayers, our Global Director of Customer Success and Sales, offers years of hands-on experience serving SMBs, providing her with a deep understanding of the challenges and pain points faced by small businesses.
From lead generation to product adoption and client retention, April manages all the sales and product usage KPIs, including direct sales, success, and SDR teams. Her unique insight into the SMB growth journey positions her to shed some light on innovative tech adaptation by SMB decision-makers.
SMBs are, effectively, our economy – new tech is critical to ensure their survival
There are 32.5 million small businesses in the USA alone, accounting for over 99% of all American businesses. Europe rivals this percentage with 98% of all European businesses employing 50 people or less. SMBs really are the backbone of the planet’s financial growth, and thus, need to keep pace with the latest technology to thrive.
And it seems most are looking to do just that. According to our recent professional survey, 89.4% of small businesses use between 1 and 6 digital tools, proving just how important digital tools are to keeping a small business running smoothly.
Implementing new tools goes beyond convenience. In order to stay afloat in the highly competitive world of small businesses, remind SMBs that their survival is on the line.
Digital transformation: SMB’s objections
Introducing new tech can sometimes be a challenge when it comes to convincing decision-makers within a business to support big changes.
In my experience, the 10% of SMBs who still might not be convinced about new tech have similar reasons behind their objections. Overcoming these concerns requires communicating the value these changes offer to both the SMBs and your partnership.
Building your position as the expert requires you to understand SMBs problems and provide them with a solution.
SMBs are often overwhelmed by the cost of implementing new technology. However, it’s important to ask small business owners to take a step back and consider the value of their time.
For small business owners spending multiple hours every week repeating the same manual tasks, this time could be better spent generating revenue. It is important to weigh the cost of new technology against the time it can save them and the opportunities it can provide.
Fear of the unknown and a perceived lack of being tech-savvy are other things holding some SMBs back from embracing new technology. Many business owners feel they’ve been doing things the same way for so long and feel uncertain about their ability to handle new tech.
But let’s be real, small business owners didn’t know how to run a business until they started running one. Small business owners are adaptable, resourceful, and committed to doing what it takes to succeed. So, if the business is not where it wants to be in terms of growth, it’s time to take a step out of its comfort zone and introduce something new.
Lack of time
Finding and learning new technology can seem daunting. But the truth is, incorporating a new tech solution can actually save time in the long run. Nearly 50% of small business owners spend at least one full day a week on administrative tasks. SMBs struggling to find time now, won’t magically find it in the future.
The key is to make an investment now and work with a vendor who will not only guide them through the onboarding process but also provide ongoing training and support. As I tell many small business owners, a perceived lack of time shouldn’t hold them back from growth and future success.
How to overcome those SMB objections
Preparation is Critical
Your SMB clients should start by evaluating their current expenses, looking for areas that could be streamlined or automated. Prepare a clear business case that demonstrates the potential cost savings and increased revenue that new technology can bring. Be transparent about the initial investment, but emphasize the long-term benefits that will result in growth for your business.
Offer Examples of Success Stories
Numbers speak louder than words when it comes to sales, and sometimes the best way to assuage concerns is by providing cold hard proof. Prepare case studies and examples of SMBs who have implemented new tech and have never looked back.
Embrace a Growth Mindset
Encourage SMBs to let go of the fear of the unknown and embrace a growth mindset. Help them recognize that adapting to new technology is a necessary step to expanding their business. Assure SMBs that partnering with a vendor that offers training and support will help them get up to speed.
Showcase Value for Money
Having a great product is only one piece of the puzzle when it comes to profits. Through my experience working with SMBs, implementing new digital tools and systems enables them to identify missed revenue opportunities, upsell to existing clients, and tap into new markets. With new technology, SMBs can stay on top of their finances, sales pipelines, and customer engagement, ensuring they don’t miss a beat.
Time is on Your Side
Investing time in finding and learning new technology can feel overwhelming, but it’s essential to realize that this investment will pay off in the long run. SMBs should consider the time and resources they will save by streamlining processes and automating tasks.
Look for a solution that integrates easily with their current systems and workflows, reducing the amount of time they will need to spend getting up and running. By investing time and resources upfront, they’ll be better positioned for long-term growth and success.
Become a partner for your SMB clients
Although many SMBs find implementing new technologies scary, preparing yourself to be their strategic partner and guiding them through their digital transformation is the best way to overcome their fears.
With the right understanding of their common objections, your business can be well equipped to handle and support your SMB clients and set them up for long term success.
vcita partners with leading organizations that serve SMBs to propel forward a joint vision of empowering SMB digital transformation. To learn more, check out vcita’s partnership program.