Going digital was crucial to the survival of most SMBs during the pandemic
Adopting digital-first technologies was essential to surviving the pandemic
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
Going digital helped 71 percent of growing small and medium businesses (SMBs) survive the pandemic according to new research fromSalesforce.
To compile the fifth edition of its “Small and Medium Business Trends” report, theCRMgiant had The Harris Poll survey 2,500 SMB owners and leaders across North America, South America, Europe and Asia Pacific. The report’s results highlight the ways in which SMBs have found success in a digital world.
According toSalesforce, the most successful SMBs are those that have taken action to earn employee trust. Of the SMBs surveyed, 50 percent of those with growing revenue offeredflexible working arrangementsto their employees during the pandemic compared to 38 percent of their declining peers.
Building trust with customers is important too with 75 percent of growing SMBs saying their customers expect online transactions. As a result, 72 percent of them have anecommercepresence including over one-third (35%) that added it within the past year. At the same time, 95 percent of growing SMBs are taking action to secure company data and to protect customer information from cyberattacks.
Embracing a digital-first world
Many small businesses weren’t prepared for the pandemic and its economic impact and were forced to digitize as a result. They did this by ensuring their employees had access to theonline collaboration toolsandvideo conferencing softwarethey needed to do their jobs.
While 71 percent of SMBs say they survived the pandemic through digitization, 66 percent said their businesses would not have been able to survive using technology from a decade ago. Additionally, 72 percent of SMBs have increased their company’sonline presenceover the past year while 42 percent have accelerated their technology investments over the past year (compared to 33% in August 2020).
While the pandemic will eventually come to an end, 75 percent of SMBs believe shifts they’ve made to their business operations over the past year will benefit their businesses long term. When it comes to the future of work, 43 percent plan to have employees split their time between in-person and remote work by adopting ahybrid workpolicy.
Are you a pro? Subscribe to our newsletter
Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!
The pandemic has changed the nature of work on a global scale but thankfully many SMBs realized early on that they would have to go digital if they wanted to survive it.
After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.
7 myths about email security everyone should stop believing
Best Usenet client of 2024
This new malware utilizes a rare programming language to evade traditional detection methods
