Small businesses in Jackson, Tennessee are increasingly utilizing technology in their operations. With technology now permeating various aspects of our lives, shopping experiences have also been impacted. In order to stay competitive and continue growing, most small businesses are embracing technology.
According to Jordan Crenshaw, the Senior Vice President of the Chamber’s Technology Engagement Center, 95% of small businesses are using at least one type of tech platform. This includes digital payment systems and tools to assist with marketing and promotion. Social media, digital sales, and artificial intelligence (AI) are just some of the tactics small businesses are employing to make things easier for their customers and attract them to their stores.
The use of social media has become particularly prevalent, with four out of five small businesses using it to bring in customers. Additionally, almost half of them are utilizing digital payment and point of sale tools. Surprisingly, one quarter of small businesses have already incorporated AI into their operations. It has been observed that companies using AI experience a 12 point difference in terms of likelihood to see an increase in profits compared to those who do not use it.
One of the ways technology is benefiting small businesses is through more targeted advertising. By utilizing digital advertising and social media, businesses can allocate their resources more efficiently towards reaching potential customers who are more likely to use their services or try their products. As a result, small businesses have been able to cope with inflation and keep their prices down.
The impact of technology on the US economy as a whole cannot be ignored. Companies that embrace technology have contributed $17.7 trillion to the US economy and have supported nearly 99 million American jobs. In conclusion, technology plays a crucial role in the growth and success of small businesses in Jackson, Tennessee.