Customer intimacy matters to SMBs. It is also a challenge. As per Techaisle's study of N=5505 SMBs in the US, Europe, Asia/Pacific, and Latin America, 77% of SMBs say that their business success depends upon a strong relationship with their customers, providing goods and services highly customized to their needs, and being responsive to their needs. Three facts stand out – customer relationship, customized delivery, and responsiveness. And neither of the three can be achieved without the use of relevant technology.
Every SMBs' survival is dependent upon customers. At the start of the year, Techaisle had predicted that 2020 would see a ground-breaking year when customer intimacy (acquisition, retention, experience & satisfaction) will drive IT adoption and business process evolution. We had said that by the end of 2020, for 45% of SMBs, the need for customer intimacy will drive digital transformation, and 76% of new SaaS adoption will be customer-focused. As a result of the investments, 15% of small businesses and 24% of midmarket firms will have a top-notch customer-facing digital presence. Pandemic has surpassed the predictions.
Recent global SMB research from Techaisle shows that within US small businesses, customer-focused SaaS business application adoption is likely to increase by 49% in 2020, rising by another 33% in 2021. Similarly, within the US midmarket firms, the adoption is expected to reach 82% in 2020, with another 74% planning to add adjacent customer-focused applications in 2021. Europe SMB research shows similar trends. 58% of European small businesses are adopting customer-focused SaaS applications in 2020, which will increase to 77% in 2021.
