SMBs are major drivers of economic growth, representing more than 90% of the business population, 60%-70% of employment, and 55% of GDP in developed economies. So while the businesses may be small, their collective impact is mighty.
We spoke to more than 2000 SMB leaders and owners across the globe for our latest Small & Medium Business Trends Report – in a three-part infographic series, we’re diving into the findings. Here’s part three.
Leveraging the power of new technologies that have traditionally been associated with enterprises is increasingly popular among SMBs. Growing SMBs are 139% more likely than stagnant and declining SMBs to rate CRM as a key ingredient for attracting customers, delivering efficient service and generating valuable data-driven insights.
And as for AI, many SMB leaders are keen to get CRM out of the wings and onto centre stage where it can make their businesses shine. But many find themselves constrained by limited budgets and implementation challenges.
It’s a common tale, with SMB leaders champing at the bit to unleash the full potential of new tech on their businesses but having to make the tough calls about what goes to the front of the queue.
Here’s a closer look at the push-pull dynamic SMB leaders face when it comes to new technologies.
Check out part one: Demographics shape entrepreneur experience and part two: Customer acquisition and retention.
For more insights on SMBs across ANZ and globally, download the third edition Small & Medium Business Trends Report.
