WHAT THE DATA SAYS
Overall, SMBs that are currently investing in technology to support key business initiatives feel they are getting a good return on their investments. On average, across all business areas, 74% rate the return on investments as medium to high, while just 13% rate their return as low. Almost half of SMBs view adding a new sales channel as providing a high return on investment. This isn’t surprising, as a new sales channel should result in new business. About one-third of SMBs say other investment areas provide a high return.
WHAT TO DO
Most SMBs don’t have the financial or technical resources to simultaneously invest in multiple business initiatives. Identify the areas most critical to business success and prioritize them as part of a holistic business plan. Build performance metrics into the process so you can benchmark your progress as you execute.