Digital lifeline for SMBs

UK small and medium businesses (SMBs) have endured significant disruption for nearly two years, transforming their operating models through the ongoing health crises and moving to an all-digital work-from-anywhere world during a highly volatile economy. While many businesses have suffered, many SMBs have successfully navigated through uncertain times and accelerated transformation, readying themselves for future growth.

The 5th edition of the Salesforce “Small and Medium Business Trends” report, conducted by the Harris Poll this summer reveals the following in the UK:

• 56% of SMBs say their business could not have survived the pandemic using technology from a decade ago.

• 65% of SMBs feel operational shifts they have made over the past year will benefit their business long-term.

• 83% of SMBs have moved a part of their organisation online over the past year. Businesses have had to be able to work, sell, service, market, collaborate and analyse data from anywhere.

• How they interact with their customers has shifted dramatically due to the pandemic. 42% of SMBs are more careful about interactions with individual customers, and a quarter of these respondents say they are more flexible in order to meet their customers’ demands.

• 22% of UK SMBs now prioritise developing relationships with customers over one-time transactions, underlining the importance of customer loyalty during a time of economic uncertainty.

• Reflecting the pandemic’s social distancing measures, 62% of UK SMBs plan to offer contactless services permanently. This varies from offering secure digital payments (36%) and digital customer services (33%) to continuing with mobile ordering (14%) and click-and-collect delivery (6%).

• Due to pandemic shutdowns, SMBs found themselves resource-strapped while struggling to maintain revenue streams. Governments and local communities alike stepped up to help them during the pandemic. 27% of SMBs say financial support from the community was vital to their business’s survival.

“SMBs are the lifeblood of the UK economy, and while the last year has presented immense challenges and has impacted businesses of all sizes, small, medium and growing business leaders remain innovators as they adapt and pivot their businesses with speed and agility,” said Brigid Charmant, Head of UK Small and Medium Business at Salesforce. “Take our customer BizClik as an example, a global digital media powerhouse who invested in digital tools that helped double their revenue in just one year. The company harnessed Salesforce technology to adopt an entirely new business model in the publishing world.”