“SMB’s Embrace Tech to Recover and Succeed”
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There is no doubt that small and midsize businesses will invest more than ever before in technology, not only to address current challenges such as supply chain and inflation, but to create new opportunities in the ways they serve customers. What type of technology you may ask? Technology that provides connectivity, scalability and efficiency. 5G, automation and AI, to name a few, will be top of mind for these businesses as they continue to look for ways to operate more efficiently, grow and scale their businesses, and differentiate themselves from competitors. In fact, according to the 2022 Verizon Small Business survey, 61% of SMBs have implemented digital tools to change processes and improve customer experiences. This technology adoption will continue to accelerate in 2023.
SMB customers that are succeeding are employing digital-first strategies that address communication, cloud, connectivity and cybersecurity. Mobility is key for these businesses, which are using 5G to provide their businesses with record speeds and reliability, allowing flexibility to power work from anywhere without compromising speed or security. And, speaking of security, cybersecurity is now top of mind for these customers who are seeing an increased number of incidents for malware viruses, password theft, account takeover, spam and phishing. More than half of SMBs believe malware/ransomware is a risk to their businesses. 5G and cybersecurity adoption will continue to increase, as businesses constantly look for new ways to serve their customers more reliably and efficiently than ever before.
SMB customers are looking for customized tech solutions from their providers; not a one-size-fits all tech strategy. They are also looking for first-in-class customer service and 24/7 account assistance to accompany them on their tech journeys. Small and midsize businesses that will be successful will make future-proofing their businesses with digitally differentiated solutions their number one priority.