Why GrowthTech is here to stay
In recent years, SaaS has disrupted the payments industry and forced businesses to rethink how they invest in technology to deliver an exceptional customer experience and grow.
Before, payment processing used to be a separate buying decision, where Small to Medium-sized Businesses (SMBs) would select software for running the day-to-day and have a totally separate integration to a payments provider.
But this approach is changing – fast. Now, more and more businesses prefer solutions that combine all their technology needs and therefore the line between SaaS and payments providers has blurred.
Enter GrowthTech. GrowthTech is focused on giving SMBs everything they need to thrive. All-in-one technology that helps SMBs to not just run their business, but grow their business, by combining SaaS, Fintech and Commerce on a single platform, levelling the playing field with larger enterprises.
Did you know 80 percent of American SMBs aren’t taking full advantage of the digital tools available to them? Today, SMB owners need to be actively using tech to grow their business. As the saying goes, give someone a fish and you’ve fed them for a day, but teach them how to fish, you’ve fed them for life. Now, there are more innovative all-in-one options that won't compromise on performance or quality.
Marketing automation and CRM tools
A big challenge for many SMB owners is getting their name out there and creating demand. In a competitive market, you need to stand out – and show what you provide, that no one else does. But when you’re an entrepreneur juggling competing demands, it’s not only hard to find the time to focus on marketing, but also to upskill yourself in an area you might not be familiar with.
Automation is an extremely helpful tool for anyone who wants to get smart and more efficient about building relationships with existing and potential customers. In fact, 75 percent of small business owners say they’ve seen an overall positive impact on revenue after automating their workflows.
Nowadays, business management software has marketing automation and CRM features built-in, so there’s no need to use different systems. For example, Xplor Connect, an end-to-end CRM and automated marketing communications platform designed to work intuitively with vertical SaaS products. Connect drives growth for SMBs by powering authentic relationships with consumers via auto-email, text, and tailored marketing campaigns. Small businesses have seen improved email open rates and online class experiences by using Connect to establish more meaningful relationships with their customers.
Business insights and intelligence tools
Another obstacle business owners face is having real-time insights on hand, and knowing how to decipher this data, to truly understand how their business is performing – and where their opportunities are.
Therefore, knowing exactly what to do with data is important. With the limited hours a business owner has in a day, analyzing this data yourself is not enough. You need software that finds patterns and gives you insight you can use.
These insights could be about your business or your customers. In some cases, this software can even predict customer churn. This way, you can spot issues quickly and take the necessary steps to retain your customers.
More and more business management software tools now include reporting and insights features as standard. Xplor Insights powers better business decisions through comprehensive reporting, placing all your data in one simple, organized dashboard. Now more than ever, being able to track performance and identify at-risk customers, partnered with actionable insights and tools to retain those customers, is crucial.
CX tools, apps, and marketplaces
Giving SMB entrepreneurs powerful mobile apps – which have previously only been available to larger enterprises – to connect with their customers (end consumers) is at the heart of GrowthTech. Think about the apps on your smartphone. The vast majority used to be from big(ger) companies, but this is now changing quickly as apps become more widely available to SMBs. We use our phones for pretty much everything these days, so using an app to connect with customers, to build communities, is crucial for SMBs looking attract more customers and/or retain more customers.
The power of being able to connect with consumers 24/7 builds trust and creates a strong brand connection. The Xplor Home app helps childcare centers drive parent engagement, making it easier for families to book, cancel and pay for their childcare; communicate with educators; and stay connected with their child during daily care. For parents returning to work with a new child, the peace of mind and sense of connection this type of app creates is immeasurable, especially when it also offers educational resources for parents.
Apps aren't just for engaging with consumers though. Small businesses can also use these to help their employees deliver an exceptional customer experience. For example, Xplor Flat Rate maximizes job profitability by combining flat-rate pricing with a parts and repairs price database, so that interior HVAC and exterior landscaping businesses can confidently offer prices upfront and get approval right away. Transparent pricing is one of the best ways to win a customer’s confidence and keep them coming back.
SMB owners no longer need to suffer the pain of multiple systems not designed for their industry. Today, GrowthTech is making vertical-specific SaaS, apps and digital services which were once reserved only for the big players, available to all. It’s about time!