Understanding Digitization for Small Business
Digitization is a prerequisite for all businesses regardless of the size of operation. Every sector or industry has found a way to incorporate technology to increase efficiency, boost brand visibility & sales, and improve customer experience. From a layman’s perspective, the demand of digitization might seem easier for businesses or corporations with a sizeable budget for trial and error, to find the right solutions to enhance the overall operation of the business. Whereas Small Businesses are constrained by limited budgets and fewer accessible options for digitization in the marketplace.
The reality of the digital payments sector could not be more different for small businesses. With rapid advancement of technology in the digital payments sector has provided the right solutions for scalability and access to facilitate small businesses. The expediency of cashless economy in India is driven by small businesses with the increased internet penetration and mobile technology. Here are 3 simple steps to completely digitize a small business.
Step 1: Website
Ideally, the digital presence of a small business begins with a website. There are several pre-designed templates provided by website building platforms that only take less than an hour to set up with the right content or designing your own website is also a viable option. As a small business, it is prudent to choose an economical option that is scalable with readily available tech support. Also, acquire a domain name that reflects your brand personality.
Either way, an SSL (Standard Sockets Layer) certificate is an essential security element for every website. Web browsers such as Google Chrome flags HTTP sites as ‘not secure.’ Hence, HTTPS is mandatory for websites. The difference between HTTP and HTTPS is simple. The former, i.e., HTTP, transfers data as text whereas HTTPS has an added encryption layer that provides data security.
Step 2: Digital Presence
The website is only the first step of marking your digital presence. Social Media ensures to state that your business is current & relevant. More importantly, up-to-date digital media presence offers the reliability and assurance that your business is functional and accessible to customers and potential customers through more than just the default channels i.e., website, email, and phone number.
Also, the social media channels offer a bounty of options for online marketing to reach customers, not limited by land boundaries. Disruptive marketing allows businesses to tap into customer demographics that were previously overlooked or inaccessible through traditional marketing channels. The wider cross-section of customer demographics helps scale the business quickly and efficiently.
Step 3: Boost Sales with E-Commerce
The wider cross-section of the digital market that is made accessible to the business can be realized in monetary terms, only with the availability of e-commerce. Customers, irrespective of the demographic they belong to, require e-commerce services i.e., digital payments and door-step delivery of goods and services. Such services are no longer niche or viewed as a luxury, it has become a necessity across all sectors and industries.
The e-commerce services can be availed from Payment Service Providers, for easy installation and usage. The Payment Gateway allows your business to accept payment from customers via different payment modes such as credit/debit card, net banking, UPI (Unified Payments Interface), wallets, EMI (Equated Monthly Instalment), SI, LendTech, and more. There are several innovative payment services like Payment Links, Payouts, PoS (Point of Sale) Terminal for Brick & mortar store, reseller services, and billing services.
Digitizing small business is a simple 3-step hassle-free process. Avail services from a website building platform or choose to develop your own, register your domain name, begin your social media journey with digital marketing services, boost your sales and gain traction with e-commerce services from a reliable Payment Service Provider. Read our self-help guide for choosing the best payment service provider for small businesses.
Pay10 offers innovative, ultra-proficient, and multifaceted FinTech services empowering your business with easy, reliable, and secure digital payments. Avail a complete range of FinTech services such as Payment Gateway with reliable security features and an analytical dashboard that aids in marketing and essential business decisions; Payment Links, Payout services, Billing service, Reseller services, and more.