The Tech & Business World Discovered Local Businesses — Now What?

The Tech & Business World Discovered Local Businesses — Now What??

After discussing the missed opportunity of loyalty and local businesses, it’s time to look at some of the more positive advancements in that arena. One of which is how some of the challenges local businesses deal with didn’t block growth and instead managed to open the door to more collaborations with technology companies and investors.?

Turning An Obstacle Into An Opportunity

While local businesses have a lot to offer in terms of market share and profit, we can’t ignore the fact that many smaller businesses lack at least some of the tools needed to provide a complete and successful purchasing cycle. Some struggle to enter the eCommerce arena, others find working at scale and speed difficult, and more.?

These missing puzzle pieces used to hold back local businesses and those considering them as target audiences, business partners, or investments. In recent years, we see more technology and business organizations recognize these gaps as opportunities. Companies realize there’s a lot of potential there and build technologies to replace the missing parts.

Offering Solutions To A Market In Need

Here are some of the elements that local businesses need help with, creating a collaboration opportunity for companies:??

• Digital Marketing: From social media content to paid campaigns, the digital world can be overwhelming for small businesses. Channels that effectively connect local businesses with their target audiences require particular expertise that a small (sometimes one-person) team often doesn’t have. Service providers and automatic platforms allow local businesses to establish their online presence without wasting too much time or money.?

• Fast delivery: Businesses offering physical goods must step up their game in the era of online shopping and speedy delivery. Today, 97% of consumers define a delivery as “fast” only if it arrives that same day. Local businesses that do not have their own delivery infrastructure need outsourced help to keep up with market demands.?

• Packaging: Product packaging plays several roles in today’s market. First, it’s an eCommerce enabler since operating a delivery system would be near impossible without it. Second, it’s a branding and marketing opportunity for local businesses that can improve customers’ experience by offering better packaging. 72% of Americans state that packaging design impacts their purchasing decision, and 30% of businesses experienced a revenue increase when they improved their packaging. This time-consuming, space-taking, waste-creating part of the process is best handled by those who can efficiently run it rather than in-house.?

• Digital loyalty: You didn’t think we were going to skip that one, did you? Much has been said (including by Glue Loyalty) about the importance of nurturing relationships through digital loyalty platforms in the local business arena. Still, while smaller businesses may be better at maintaining a strong user base of returning customers, they often lack the digital knowledge required to build user-friendly platforms. White-label solutions that offer every management, messaging, and analytics capability lighten the burden and offer noticeable benefits to small businesses and their customers.??

What’s Next?

Every new solution that supports the needs of local businesses further boosts growth for them and the partners who choose to focus on this arena. Networks expand, margins increase, and the sector's true potential is suddenly revealed. Tech-empowered businesses of all sizes meet the highest standards and become serious competitors for large enterprises.?

But this positive development doesn’t mean the work is done.?

Now, it’s up to everyone involved to continue capitalizing on this opportunity by elevating the tech and business solutions given to local businesses everywhere. Identifying strong suits like loyalty capabilities and pushing them forward will enhance what these businesses do better than anyone else. We should stop asking what local businesses need and start focusing on what they excel at. The tech companies and investors who are wise enough to do that can tap into a lucrative space with great results and an even greater promise.?

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