5 reasons why you should digitalize your business

Digitalization has the potential to grow your home service business in ways you could never achieve with only pen and paper.

    Updated at Apr 20, 2021Business

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From the moment your clients wake up to the moment they go to bed, they use technology to facilitate their lives. They already use technology to perform several daily tasks, which means you should do the same when it comes to your business. What if you took this same concept of digitalization to take your business to the next level? The advantages of digitalization have the potential to grow your home service business in ways you could never achieve by pen and paper only.

Why? It is very common today for potential clients to visit the websites of the professionals they are planning to hire to see if have a digital presence. When they do, this becomes a major tie-breaker when it comes to deciding between them and other professionals. Not to mention the opportunity to grow your business' revenue. A study published by Deloitte revealed that small businesses that implemented digital processes "earned twice as much revenue per employee" and "had revenue growth over the previous year that was four times as high" compared to businesses that were not as digitalized.

But first… what does digitalizing your business even mean, you ask? Let’s take this long and intimidating word and put it into simple terms. Think about how you use technology to be able to accomplish more tasks in less time. Now think about doing the same for your business. In simple terms, what you just thought about is a process called digitalization - meaning you are using technology to make your business more effective. Just as in life, digitalizing your business will bring you great advantages. Let’s take a look at some practical examples of how digitalizing your business can make it more successful.

1. It saves you time

It is not news to anyone that your time is precious and wasted time in business equals wasted money. From scheduling your projects to messaging customers to communicating with your team members - and even receiving payments - you can perform several important tasks in one place. Being able to do that can be the difference between growth and stagnation.

We know that SMS reminders help you reduce cancelations or even prevent you from arriving at the job site while the client isn't ready for you yet. We have learned that some professionals spend as many as 1 to 2 hours every week sending text message reminders to their clients. You may already send text message reminders to your clients. What if those messages could be sent automatically?

2. It is convenient for your customer

As a business owner, your customer is the center of your attention. When they can get all their questions answered on time, or follow a link to send you payment for your services, or even see when you are on your way to their home, customers will feel valued and important. By digitalizing your service business you can impress your customer by giving them a complete view of the project, from hiring to service completion.

3. It is profitable

Anything that allows you to do more in less time helps you save money and make more money. For example, instead of hiring an assistant to book your services, manage your calendar, and send your customers reminders about an upcoming job, these three tasks could be easily accomplished by different tools in an app. A calendar can let your customer check your availability, a schedule will serve as a future reference for both customers and providers after the service is booked, and automated SMS reminders will eliminate the need of having to text each customer one by one.

Many service providers receive payments in different forms like cash, check, Venmo, Zelle. It takes time to manage and reconcile all of them. When you struggle to manage the money that your business makes, it leads to bigger problems down the road. That is in fact one of the main reasons why so many professionals end up having financial problems. According to a study conducted by the US Bank, the number one reason why businesses fail is poor cash flow management, with 82% of businesses experiencing failure because of that. Imagine if you could receive all payments in one simplified way, making it easier for your clients to pay you and for you to manage this money and make sure you are not spending more than you are bringing in.

Wouldn’t it be ideal to automate the work that could be done by one or several employees by using one single app? In the long run, this will result in more profit for your business because you cut down on payroll costs.

4. It unlocks faster growth than your competitors

You already know that digitalization allows you to perform tasks faster and more efficiently than your competitors. As a consequence, your business will experience growth faster than others that do not adapt to the trend. When you prioritize your customers’ experience by giving them an opportunity to perform many tasks digitally, such as receiving a quote, scheduling a service, making payments, and messaging you, you are not only creating a more convenient experience for them but also setting the foundation for them to become recurrent customers, creating more business to your company. They might also refer your services to others because of the great experience they had. Never underestimate the power that word of mouth references from a satisfied customer can have. Digitalization allows you to implement simple changes that result in significant growth for your small business.

5. It is safer during COVID times

The COVID pandemic of 2020 transformed and continues to transform the world in ways never seen before. One of the major changes we notice in businesses of different sectors is the urgency to prove themselves safe to customers. Online businesses experienced exponential growth because customers are more and more interested in cashless payment methods. How can home service businesses adapt to that, since human interaction is at the core of any home service activity, to begin with? When you give your customer the opportunity to pay for your services by following a link to an app, it creates an extra sense of safety because the money exchange factor has been eliminated. You are showing you care about your customer by putting their safety - as well as your team’s - first.

There is no denying that the trend to take your business digital has proven itself effective to many small to large businesses around the world. Society as a whole has experienced digitalization at many levels, so it should be no surprise that businesses should adapt to this trend in order to remain relevant, become competitive and stand among the crowd. Are you ready to take your home service business to the next level through digitalization?

Sources:

https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/us-tmt-connected-small-businesses-Jan2018.pdf

https://www.businessinsider.com/why-small-businesses-fail-infographic-2017-8?r=US&IR=T

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