Things-to-remember-when-you-attend-Exclusively-Electrical-Trade-Show

Things to remember when you attend Exclusively Electrical Trade Show

Exclusively Electrical Trade Show is back to the Business Design Centre, London, UK. Year-on-year it is organized for the companies within the industry to showcase and demonstrate their latest products and services and test the newest market trends.

The trade show not only serves as a business platform to showcase their products to potential customers but they can also get a sneak peek at what the competition is working on. 

However, if you are new to attending such trade shows, this space is for you to read. Here is a quick checklist that you can follow before or while attending the two-day Exclusively Electrical Trade Show starting from 09 June 2020. 

Do not spend too much time with people you already know

We have noticed that most people just revert the warmth of hanging out with people they already know, thereby missing an opportunity to explore new contacts. Hanging out with your co-workers is the last thing which you would want to do in a trade show. 

Trade shows are all about showcasing new products, corporate, meeting new people and explore new avenues. 

Come prepared

Plot out which companies you want to see, where they are located as well as educational sessions you plan to attend. 

For example, Altius Technologies will be waiting to showcase its digital marketing solutions for the interests participants of the trade show. Now that you have noted down the purpose of your visit, you can reach out to the specific stalls. 

Getting acquaintance with the layout and hours of the show will help you a lot. Also, if the show format allows you to make a prior appointment with the exhibitors, you should not miss it.  It helps speed things along.

Staying shy doesn’t help

Trade shows are all about networking. Everyone is there to meet new people. The showcase of one’s interpersonal communication skills is very important here. 

You may prepare a few opening lines to break the ice. An appropriate suggestion would be to simply ask a person, “What’s the coolest thing you’ve seen at the show?” 

Dress appropriately

For a long day ahead, we recommend you to dress comfortably yet look professional. We recommend you not to wear new shoes! 

To visit multiple stalls, keep walking for a long time and finally unable to pay attention to any conversation as your feet hurts is the least you would want to experience.  

Follow on Social Media

If you are active on popular social media platforms, you can follow the trade show’s hashtag, join the LinkedIn Group, etc. It will help you with a brief idea of what you can expect from the upcoming trade show. 

Finally, carry a water bottle along with you. Staying hydrated will keep you active., thereby pay more attention while visiting multiple stalls and interacting with several business executives. 

Exclusively Electrical Trade Show is being conducted alongside the Houseware show at Business Development Centre, London, UK on 09 June 2020 and 10 June 2020.  

 

Arun Venkatraman

Exclusively Electrical Trade Show is back to the Business Design Centre, London, UK.

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Latest Trends of Product Information Management

Latest Trends of Product Information Management

Advancement in technologies is pushing Product Information Management (PIM) to the next level. Business owners are understanding the importance of PIM and with time, the number of PIM implementations is increasing. Here are some of the latest trends dominating the PIM ecosystem. 

AI-Driven Product Data Management

PIM mainly focuses on data management. Artificial Intelligence plays a crucial role in managing data, offering product recommendations based on user preferences, providing customer support through chatbots, and more.

Slowly AI will also help write better product descriptions using NLP – Natural Language Processor – to enhance customer experience.

Use of Augmented Reality

PIM is all about enhancing the customer’s shopping experience. The PIM tools make it easy for the customers to search their desired products with the help of accurate product descriptions.

Usage of Augmented Reality will help developers generate web interfaces. Customers can access the web pages through their smartphones and interact with the desired products.

Using Blockchain

Accurate product descriptions are crucial for product sales. PIM tools are using blockchain to authenticate product descriptions. Moreover, any alterations to the product data can be easily managed, making real-time catalog management feasible.

Blockchain approves changes made to the product descriptions and also approves or rejects product images if any. In addition, Blockchain secures your product information. 

Video and Audio Content

Product data in video or audio format tends to appeal to customers. It is capable of offering all the relevant product information in less time.

Moreover, you do not need high budget high-quality videos of your products to reach out to your customers. Simple and visually clear videos will appeal to your customers.

Easy Integration

PIM integration with multiple third-party software programs makes the tool function better. For instance, PIM can be integrated with maps to find out whether the buyers location matches with the areas of seller’s shipment.

Similarly, PIM can be integrated with ERP and CRM.

PIM tools are meant to automate manual efforts, increase employee productivity, enhance customer experience, and showcase accurate product data.

The above-mentioned trends have already taken PIM to the next level.

Altius Technologies provides innovative PIM solutions and also helps its customers with PIM implementation.

If you wish to experience the PIM solutions and interact with the experts from Altius Technologies, then book your calendar for the upcoming PIMpoint Summit 2020.

This is an opportunity for you to meet various other industry leaders to broaden your knowledge on PIM. 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology

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Physical Stores can succeed online using Google Adwords, Here’s how.

Do you own an offline retail store? Want to have your profitable share of the pie in today’s #eCommerce era? Google Adwords is consistently seen as one of the best ways to reach your prospective customer, drive local traffic to your physical store, and ultimately increase sales.

Why is Google Adwords the right platform for Brick & Mortar retail stores?

Studies have proven the phenomenon of Research Online, Purchase Offline (ROPO) to be valid in most of the cases. Although the online store revolution has raised the boundaries of doing business high, the offline store is still preferred by customers for making a reliable purchase. However, this is not to suggest that online stores are performing poorly but instead to showcase an existing opportunity for Brick & Mortar stores to compete with online stores to attract more local customers. It can be achieved by improving the stores’ visibility in the online space using a specialized marketing tool such as Google Adwords. Making the best use of Google Adwords requires specialized knowledge of customer behavior. We recommend using these FIVE in-built tools and make use of tested strategies to take your Brick & Mortar store online using Google Adwords.

1: Enable Ad Scheduling to target genuine customers

Strike the iron when hot! It can literally apply everywhere. With tight budgets on advertising, you should look to optimize your marketing strategy by displaying ads only during store open-hours, peak times of the day or target your intended audience. Interestingly Google Adwords allows such flexibility. Ad scheduling helps you to set particular days of the week and time to run your ads. Tools like Bid adjustments allow you to run ads all day, but with an increase in volume for set hours. Follow the below steps to enable your ad scheduling option: 
  • You need an existing ad campaign to begin the Ad scheduling process.
  • Get access to the campaign you want to adjust by signing-in to your Google Adwords my business account
  • Click on the Campaigns tab.
  • Select your campaign.
  • Look for the “Ad Schedule” tab. Click on it.
  • Follow the options on the screen to change parameters accordingly.
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For best results, keep track of how your campaign is performing. Taking notes of what days and times you receive the highest amount of foot traffic is essential to evaluate your existing or further campaigns.

2: Optimize further through geo-targeting ads for specific locations

Target more local foot traffic through geo-targeting ads. Geo-targeting identifies your ideal customer’s location depending on their IP, WiFi or GPS data. Geo-targeting also allows companies to record consumer behaviors based on their location. This will help you to custom your ads based on their locations, such as commercial areas and airports. To enable geo-targeting in AdWords, follow the below steps:
  • Select an earlier campaign
  • Next, click the “Settings” tab.
  • From there, select the “Locations” drop-down menu.
  • Next, click “Advanced Search.”
  • Now you can enter the name of the exact postcode or street name you’re targeting.
  • Click “Save campaign” before exiting.
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For best results, begin with focusing on the area where your store is located.

3: Enable Promotion Ad Extension

Marketing campaigns are now made simple to drive more local foot traffic through calculated online advertising campaigns. Newest tool is a Promotion Ad Extension. It displays your store’s current promotions within the ad such as percentage discount beneath your ad or prices on products in-text ads. You can also add additional details to your promotion, e.g., promo codes or minimum order values.
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This extension also allows you to choose what device you’d prefer your ads to show on, e.g., targeting mobile users. If scheduled for promotions at a particular time of the day, you can attract more local foot traffic and generate higher click through rates. Follow the below steps to add a promotion extension to your AdWords campaign. Before that, make sure that your business is verified with Google.
  • Go to your Google My Business homepage and click “Start Now.”
  • Next, fill in the form. You’ll need to search for your business and if it already exists, claim it. Look for the “Ads & Extension” tab and click on it.
  • Now select “Promotions Extensions.”
  • Set up your promotion through several preset “Occasion” drop-down menu. Enter appropriate details of your promotion such ss discount details, website URL, product items, etc.
  • “Advanced options” enable you to target only mobiles or extend your promotion. Also, optimize your ads for store open-hours and higher foot-traffic times under this option.
  • Finally, save your promotion and wait for Google to verify it before your promotion goes live.
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4: Enable Location Ad Extension to include your store address

You may gain customer confidence by including your store location and detailed address in your AdWords campaigns. The assurance of a physical entity behind a business that is displayed online will draw a sense of comfort and may turn into actual sales. A location ad extension can display your store’s address within the ad. The following is a location extension: 
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Here is a detailed procedure to enable location ad extension in your Google AdWords campaign. Please note that you will have to verify your business with Google before looking for enabling location ad extension.
  • Go to your Google My Business homepage and click “Start Now.”
  • Next, fill in the form. You’ll need to search for your business and if it already exists, claim it. Look for the “Ads & Extension” tab and click on it.
  • Now select “Extensions.”
  • Click on “create ad extension.”
  • Select “Location extension” from the drop-down menu. Locations from your Google My Business account will be displayed. Use it.
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5: Use Click-to-text message extension for better customer connect

Offering scope for instant communication with potential customers is an excellent way of marketing. Now Google Adwords can help you achieve it. Not all your potential customers will like to make a phone call, and the ability to text instead gives another channel of communication to them. A click-to-message extension on Google Adwords (or simply, message extension) is an additional link incorporated in your ad that connects customers to your business by text message.
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Here is how you can enable a message extension in your further campaigns:
  • Sign in to your Google AdWords account.
  • Navigate to ad extension drop-down as shown in the above hacks.
  • You should see a “Message extension”. Select it.
  • Enter your business name and contact number along with your desired automated reply that your customers will be prompted with.
  • See the preview of your message extension in the ad and Click to save it.
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Successful businesses that incorporated this extension have discovered more conversion rates, some even saw over 30% of texts received turn into qualified leads.

Strategies to spend wisely on your Google Adwords

Google Adwords is a great tool to establish your brick & mortar store online. But to increase the popularity of your store online, you will have to wisely operate your Google Adwords account. We propose you the following strategies that you could follow to get the desired results from your Google Adwords account.

 1: Must Optimize the Page your customers are being directed to

There is literally no point in running an Adwords campaign if the redirected page is not optimized. By optimization, we mean accurate information of your store timings, updated store location, acknowledging customer reviews and other such finer details.

2: Different keywords for different target audiences

Keywords used in an ad campaign must necessarily match your target market. Having different keywords for different target audiences will help you make the most out of your ad campaign on Google Adwords.

3: Split Test Once every 6 Weeks

By adjusting top variables like Headline, Ad Extensions, Device Targeting, Time-of-Day Budget Increase every 6 weeks will give you a detailed insight into customer behavior to run future campaigns more successfully. Ask our expert team for more solutions to build an online space for your offline store. https://www.altiussolution.com/contact/

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology
Project-qatar-doha-Blog-2

What is the Impact of eCommerce on Real Estate Industry?

Technology has influence over all the areas in our life.

E-books over hard bound books, e-papers over newspapers, e-mails over letters, and whatnot.

Foot falls in physical stores are not replaced by clicks on websites and e-stores.

The eCommerce industry has grown rapidly and even reached industries which were not thought of, like the real estate.

The shopping habits of the younger generation has shifted to mobile and digital platforms. This is the reason why businesses have transformed to an online version by taking the help of eCommerce technology.

Customers are getting more comfortable with using eCommerce in the real estate sector as it offers easier purchase and faster delivery time.

The real estate industry is reacting to new market trends and reevaluating its business models and strategies. eCommerce is helping the market adapt to the changing trends and technologies and stay updated. According to market research, the youngsters are wise buyers.

They visit malls and physical stores to check the products, its texture, and physical touch, and then check the same product online to check for alternatives and price options. This gives more clarity and purchase options to the interested buyers.

So, here are some prominent changes seen in the real estate industry due to eCommerce and related technologies.

  • The companies are working with eCommerce sites to find warehouses in metropolitan cities and other key locations to enable faster delivery.
  • Conventional and digital retailers are learning new marketing trends to connect with their target audiences.
  • Retail stores are not only going online but ensuring to have an offline presence for service-center and maintenance purposes.
  • Retailers are trying to innovate and re-work on their in-store product experience, which is helping them face online competition and sustain customer retention.
  • Retailers are coming up with omnichannel strategy which helps them diversify their sales and marketing activities across multiple online channels like mobile, in-store, social media, etc.

Although the real estate is adapting to eCommerce and other online technologies, it will take time before the market is completely evolved. With time, the waves of digital transformation will take over the real estate industry.

Experts from Altius Technologies will be showcasing their unique online customizable B2B products and services at the upcoming event Doha Exhibition and Convention Center on 7th to 9th April 2020.

This is an opportunity for our existing customers and new prospects to reach out to us to discuss their online business requirements.

 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology

National-Harware-show-1

Make the most out of National Hardware Show 2020

Altius Technologies is excited to nail its presence at the upcoming National Hardware Show 2020. As an exhibitor, we are excited to offer you the latest tools in eCommerce solutions & Digital Marketing. As an Attendee, you can approach us at the show for personal consultancy on reducing your Website bounce rate, boosting your Website Referrals, Website Traffic count & Sales Conversion. The National Hardware Show 2020 is scheduled for three days at Las Vegas Convention Centre, kicking off 05-07 May 2020. But before that, we thought you would want to get our top tips for attending a trade show of this kind.

Plan your strategy well in advance

Know what you want to achieve before actually visiting the show.  It is important to develop a plan of which exhibitors you would want to visit, say, you are one of the retailers/suppliers/wholesalers/manufacturers and are looking for a larger market for expansion or organizing their product listing on their website for better sales conversion. Digital Marketing & eCommerce solutions like Product Catalogue Management, Product Content Management, etc. can help you achieve it. Here is where Altius Technologies who will be present at the show shall be approached. It is also advisable to find out who else from your company is going to the show and develop a suitable plan to maximize your visit. You can research different vendors to find out how they differ and what is actually important to you. Also, plan follow-up questions to ask them. Also, look out for seminars/workshops that you want to attend to maximize data gathering.

Prioritize your time at the event

Three typical ways of exploring a trade show are: 
  • seeking out the chosen vendors on your list,
  • attending seminars and info sessions for data gathering, or
  • wandering to see what all you discover.
It is best if you can take time for all! However, stick to your plan and finish it before time runs out.

Get a prior appointment

If you are not familiar with the exhibitor at the show and you would want to have a detailed discussion, make sure to reach out to them, preferably before the show to fix a prior appointment. Also, during the show insist them to send you the particulars of their products on your e-mail for future discussions in your office.

Download the NHS Mobile App

The official NHS Mobile App is on offer for you to download for convenience. It gives you access to your My Show account that connects you with exhibitors, enables search and favorite new exhibitors, products or events & more. It also provides the opportunity to learn more about the exhibitors and products recommended in the app.

Build Connections

Trade shows are designed for maximum connections for the growth of the industry. You can either meet new people or reconnect with the familiar vendors to see their new projects.

Carry the essentials

Make sure to carry a lot of business cards to avoid filling out forms, exchange contacts more professionally. Make you comfortable by wearing comfortable shoes and clothing on the show floor. Formal dressing isn’t the necessity always. Finally, carry a light storage bag for accumulated materials. Avoid Plastic bags because they should be and also it is uncomfortable as they cut into your hands. Altius Technologies is a leading B2B eCommerce & Digital Marketing solutions provider. We have rich experience with clients associated with industries like Manufacturing, Plumbing, Electricals & Electronics, Power Tools, etc. Plan your meeting with us at the National Hardware Show 2020 to optimize your B2B eCommerce.

Additional Information:

Be aware of the standard recommendations for the general public to help prevent the spread of respiratory diseases like COVID-19 which include hand and respiratory hygiene:
  • Avoid close contact with people who are sick.
  • Avoid touching your eyes, nose, and mouth with unwashed hands.
  • Wash your hands often with soap and water for at least 20 seconds. Use an alcohol-based hand sanitizer that contains at least 60% alcohol if soap and water are not available.
  • Stay home when you are sick.
  • Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
  • Clean and disinfect frequently touched objects and surface

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology
Things-to-Remember-when-you-Attend-Digital-1-to1-Event

Things to Remember when you Attend Digital 1 to1 Event

This year the Digital 1to1 celebrates its 9th edition of pure networking and collaboration between experts from the retail industry in Barcelona Spain.

After multiple successful events, big brands, and industry experts look forward to this event to exchange thoughts, ideas, and innovative products and services with others present at the event.

Digital 1to1 focuses on helping people build real human connections that can positively impact the business and the individual.

Although technological innovations and social media play a key role in business promotions, the real growth of any business lies in networking with consumers and other related players of the industry. 

If you have a similar thought process, then book your dates for the Digital 1to1 event which will be held from 4th to 6th March 2020 in Barcelona, Spain. 

Here is a list of to-dos before or while you attend the event. 

Explore the Most

These types of events are for networking and collaborating with experts and exploring innovative business ideas.

Hence, try to communicate with the attendees the most. You never know who turns out to be a guiding light for you. Explore all possible opportunities, showcase your products, interact, discuss over varied topics, accept feedback and learn. 

Prepare Yourself Well

An event like Digital 1to1 is a giant platform for networking and one means of collaborating with big brands is to have vast knowledge of your industry.

Know your products well and be prepared to answer any type of related questions. The more knowledge you hold about your business and offerings, more will be the chances of brands getting interested to interact with you. 

Be Confident

This aspect is self-explanatory. Be confident about your business and how different you are from your competitors.

For instance, experts from Altius Technologies will be participating at the event, to not only showcase our products and services but also to define the unique characteristics that make us stand out of the crowd. 

Professionals behave Professionally

This is an event to engage, interact, communicate, and network; however, all of this must strictly be on professional grounds.

Dress up in formals, discuss only about new business ideas, trends, and technologies, learn, initiate discussions on various business challenges to find out solutions, and help yourself and your business grow. 

Stay Updated

When you wish to attend such an event, you must be aware about the entire agenda and the opportunities that are in your best business interest. Look out for the event details on social media and the official website.

This will give you an idea of what to expect from the upcoming event.

Stay Active

Show interest in learning, attend as many exhibits and talk to as many people as possible. At the same time, take care of yourself, stay hydrated and well-fed in order to stay energized throughout the day.

The Digital 1to1 event will be held on 4, 5, and 6 March 2020 in Barcelona, Spain.

Visit their official website to know more.

 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology

Importance-of-adopting-National-hardware-Blog-2

Importance of adopting B2B selling strategies for eCommerce. Learn more at the National Hardware Show 2020

The obvious fact to boost your sales is to meet the needs of your end-user. 

However, in the case of Suppliers/Distributors/Manufacturers, their ultimate-Thule is another company rather than an individual. 

The usual B2C strategy is outdated in your case & you require a different strategy to manage your B2B business via eCommerce. 

Continue reading to learn more. 

The Upside of a dedicated B2B eCommerce

  • Get higher invoice volumes per client:Companies have a requirement of their own & they like to order in bulk.
  • Look more like B2C yet gather huge sales: The popularity of retail eCommerce has changed the habit of companies placing their order on an e-Commerce. Offer your clients the best customer experience by optimizing your -Commerce.
  • Stay ahead of your competition: B2B clients prefer to repeat purchases with the same supplier that they already know who has already met their needs instead of starting a new process of searching for new offers, validation, and decision-making. Build a website that retains them.

Optimize your website for B2B customer experience

You can find Altius Technologies at the National Hardware Show 2020 to implement the upsides of B2B eCommerce for you.

Your $1 spent on us= $4 ROI for you! Refer some of the common strategies followed to optimize a website to reduce website bounce rate & increase website referrals, website traffic rate and eventually sales conversion.

1 Give attention to your product page

A vibrant display of your product is an important part of optimizing your B2B e-commerce. It can be achieved with premium services from Altius Technologies like Product Catalogue Management, Product Data Management, Product Information Management, Enriching product data or by developing product Taxonomy & basing all information on Search Engine Optimization (SEO). Visitors will very easily lose interest if the product information is not relevant. Essentially, the mentioned services will update your product page with missing or new attributes and high-quality images. Once such services are implemented well, the Non-technical buyers can also understand and will be motivated to buy the product.

2 Automate your Inventory Management

Companies order in bulk. Imagine a situation where you had received a bulk order whereas you have no adequate inventory to supply. It can potentially harm your brand image. Automating your inventory management can save you a great deal of your time, labor, and money. Implementing such a service will make it easy to update, sync, and monitor all of your products and variants while giving shoppers a clear view when a product is low or out of stock. Also, a tool to automate your price quotation is a worthy addition.

3 Give Attention to UX Design

Your B2B website has to also look professional and less annoying to the visitors. Tips like: 
  • Using color, size, white space, etc., to set your most important content easily identifiable;
  • Making clickable items obvious.
  • Having a clean background and plenty of white space makes it look more professional.
  • Make calls-to-action stand out.
  • Highlight the user’s current location on the site.
Altius Technologies offers all the above B2B e-Commerce & Digital Marketing services and the same are up for your validation, assessment at the upcoming National Hardware Show 2020 in Las Vegas. 

About National Hardware Show 2020

National Hardware Show 2020 brings worldwide professionals offering innovative products & services together on a global platform to promote the hardware businesses in all sectors. It is an excellent opportunity for businesses to gauge the current market requirements and adopt the best strategies to benefit their businesses. National Hardware Show 2020 is scheduled for May 05-07 2020 at Las Vegas Convention Centre, Las Vegas, USA.

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology
Impact-of-Technology-on-eCommerce

Impact of Technology on eCommerce

eCommerce is gaining pace like never before. Every business is transforming itself from physical stores to online stores. 

Technological innovation is changing the way any business is being carried out. But what do we mean by technological innovation? 

How does it impact the business? 

What is the impact of technology on eCommerce? 

All these questions and more will be answered in this blog. 

Technology helps to Enhance Customer Experience

Thanks to technological advancements, businesses are able to create innovative ways to enhance user experience while shopping online.

Today online shopping is much easier and hassle-free. Products can be easily purchased, sold, and even exchanged. Shopping is a matter of few clicks on mobile devices and the product is delivered at your doorstep in no time.

Technology Provides Personalized Data

This is a relief for the B2B sector. Companies are switching to B2B eCommerce and need real-time procurement data. Technology enables gathering personalized data which allows B2B players to understand consumer behavior.

This eventually helps the business deliver data-driven services which enhances customer retention and attracts new customers.

Artificial Intelligence

Technology advancement has given us the gift of Artificial Intelligence. AI is more useful for B2B eCommerce players since they have a limited number of large transactions taking place from the consumer end.

AI allows businesses to work efficiently, automate manual tasks, provide critical insights for decision making, increase productivity, and lower costs by making business purchases intelligent.

Procurement Management

Procurement process is one of the processes that have a direct impact on the growth of the business. Technology enables procurement managers to understand business requirements and make effective decisions.

B2B eCommerce players can use technology to offer purchase recommendations to their customers. They can also make use of technology like the CRM platforms to make structure purchases.

Payment Process

Payment has been made completely digital by the eCommerce industry. Moreover, customers are liking this since it enables seamless purchases.

Corporates are making use of e-wallets and gift cards which is a technological reform. Technology has enabled transparent and secure payment methods.

The eCommerce industry has certainly been largely benefitted by technological advancements and shall continue to do so. Human needs have always given rise to innovation and this is a major reason for all the advancements we see today.

This upsurge of technological innovation shall keep benefiting both B2B and B2C eCommerce players, making the life of individuals simpler to manage.

 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology

Identifying-the-Main-Challenges-Faced-by-Small-and-Medium-Enterprises

Identifying the Main Challenges Faced by Small and Medium Enterprises

Leadership

Most often when a business starts to grow, up to a certain extent having family-like bonding with the employees works for the business as employees are then willing to help the business sustain and grow.

However, when the business starts to expand and diversify, there is a need for strong leadership, the right skill sets, and talented coworkers. This is when finding high performers becomes a challenge.

In order to overcome the challenge, business leaders must be strong-willed and should encourage their employees to perform better from time to time.  

Strategy Planning

SME owners may find strategy planning challenging at times. Since strategy is the base for any business to function smoothly, it is essential to have the plan in place and seek help whenever required.

Now, thanks to technology, there are tools that can document single page business plans for the company. This helps you define a specific time period to achieve your business goals.

Execution

Once the strategic plan is ready, the next challenge is to execute the plan. Executing the strategy becomes difficult since there are some situation-based or sudden issues that the business must overcome.

Hence, the ideal solution is to break the yearly plan in quarterly plans and ensure that the goals are met accordingly.

Systems and Processes

Having defined systems and processes is as important for small and medium-sized businesses, as it is for established large organizations.

This is what makes the business more productive. Setting up systems and processes can be challenging; however, industry experience and professional guidance can help to line up systems and processes in place.

This in itself is a solution for systematic working and a sure shot method of enhancing your customer experience.

Employee Productivity

Employee productivity is considered to be a big challenge, since small and medium-sized businesses tend waste a lot of productive time in training their employees.

One of the solutions to this challenge is to train the employee while he or she works. This will help you monitor the mistakes and prevent them from repeating.

Another way of enhancing employee productivity is to set systems and processes. With all systems and processes in place, the employees know what and how they are supposed to work. 

Facing Competition

No matter how old your business is, no matter whether your business is offline, online, or both, you must keep your knowledge and skills updated. The solution to face this challenge is to learn the latest technologies, tools, and equipment to understand how the market works.

There are many more challenges that SMEs face such as cash flow, succession planning, growing revenues, staff turnover, fluctuation in ROI, etc.

Business owners must find solutions to these issues in order to keep the business running; and train their employees to efficiently manage the technical on-job issues.

In order to discuss such issues and discover innovative solutions to the various challenges faced by SMEs one must attend the upcoming B2B Expo Melbourne 2020 on 18th and 19th March.

Experts from Altius Technologies will be part of this event showcasing unique and creative online B2B solutions that can be easily integrated digitally and will help your business:

  • Create strong online presence
  • Generate more leads in less time
  • Improve customer experience

 

Arun Venkatraman

Helping CXOs succeed in the digital era by helping them capitalize on data and technology