Small and medium-sized companies will disappear; How to stay relevant?

(CRM) to better understand and meet customer needs
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(CRM) to better understand and meet customer needs

As digitization redefines the global business landscape, even an alarming assessment shows that 90% of small and medium-sized companies may disappear in the next few years
unless they adapt to this new reality. Yet far from being a seven-headed monster, this digital transformation is more accessible and necessary than ever.

Let’s consider a case Tarango Oliver Vineyards
, a small family owned winery located in the McLaren Vale region of Australia. Oliver’s, known for its high-quality wines, faced the challenge of reaching a wider audience and modernizing its operations.

Under the leadership of Corinna Wright, the sixth generation of the family, the winery has embraced a number of digital initiatives. Corrina implemented a customer relationship management (CRM) system to better understand and meet customer needs and personalize communications. In addition, the winery has launched a robust online store that provides direct sales to consumers, greatly expanding its market reach.

One of the simplest and most innovative steps was to use social media to connect directly with wine lovers. With interesting and interactive posts, Oliver’s Taranga has not only strengthened its online presence, but also built a community of loyal followers.

The result of these changes has been impressive: increased online sales, greater brand awareness and significant customer engagement, elements that have combined to ensure sustained growth.

But why is digitization crucial?

Digitization offers tools ranging from efficient management software to affordable e-commerce solutions, with significantly lower upfront costs than in the past. This means that digital transformation is available to all small and medium-sized companies. Today, business intelligence software such as Microsoft’s PowerBI, which cost thousands of reais a few years ago, can be hired for as little as 60 reais per month. This allows even small companies to use advanced technologies that were previously reserved for large companies.

Tips for your digital journey

1. Adaptation to your business needs:
Choose technologies that complement and improve existing processes in a simple way.

2. Team training:
Technology alone is not enough. People who use it must understand and accept these changes. You can train your team cheaply by using free YouTube content, sharing information and news via WhatsApp, reading books and taking online courses.

3. Digital interaction with customers:
Use digital platforms to build authentic and lasting relationships with your audience. Try to listen and interact with your customers to get feedback about their expectations for your product or service. Ask open-ended questions and quick surveys.

Digital transformation is no longer a trend, it is no longer a luxury, but an urgent necessity. With the tools available today, every small and medium-sized company has the opportunity to open up and thrive in an increasingly competitive market where the barriers against new competitors are getting smaller and smaller. Don’t let your company be part of the disappearing statistics. Start the transformation now and ensure a bright future.

Gustavo Caetano (www.gustavocaetano.com.br) is the CEO and founder of Sambatech, investor, speaker and bestselling author of Pense Simples.

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