(BPT) - Given the option, people like to buy from a real person. There's pride in keeping small businesses open and more dollars in the local community. These businesses make up 99% of U.S. companies and account for 45% of jobs. They sponsor the neighborhood Little League and know their customers by name and face when they see each other in town.
So why aren't small businesses winning more often?
Big companies have big budgets, teams and tools. They put themselves at the top of Google searches and have call centers to capture customer interest. What they lack in customer service, they make up with availability. After all, small businesses that can't be available to answer the phone at all times can't offer the personalized service that sets them apart. How can a small business compete without having to work 24/7 or hire more people than they can afford? The answer to getting more manpower, while maybe counterintuitive, is artificial intelligence (AI).
McKinsey reported that 90% of Fortune 500 companies are incorporating AI. Meanwhile, just over half of small businesses take advantage of the new technology, according to American Express' Trendex report. Corporations can afford to test multiple softwares or hire more people to support the technology. They also likely have a better cost-to-benefit ratio than small businesses. Furthermore, most enterprise AI is too complicated, too expensive or too impersonal for local shops.
That is where solutions like OpenPhone enter - AI specifically built for growing businesses. In this case, to ensure no call or customer is ignored while allowing local mom-and-pops to keep the high-touch, personal services they're known and loved for. Even bigger operations, like a franchise, can enlist this kind of AI across locations to help maintain customer service standards without the complication and cost that often come with solutions meant for corporations. Businesses can go from 30% of their callers leaving a message to 90% engaging with the company overnight.
"It's all about making it easy for the customer," Pink's Windows' Brandon Downer and Carter Smith said about their decision to adopt the system. When messages come in after hours or while all hands are on the job, the AI responds to gather essential information and kick off Pink's Windows' same-day quote promise. AI-generated call summaries then ensure the team can quickly provide quality service. It also helps meet younger customers where they want - via text - without having to stay attached to the phone.
ChatGPT and viral photo editing filters are glimpses into the power of AI at a large scale. When small businesses evaluate AI tools to help them compete with big business, consider the following:
- Built for Small Business: Small businesses have different needs. A tool built for companies with IT teams will cost more time and money than it saves.
- Clear Pricing: Check whether the tool bills by usage or a flat subscription, and confirm there are no hidden fees. Don't risk getting billed more than budgeted!
- Out-of-the-Box Value: Does 'training' the AI require sophisticated technical skills? Or can the product 'learn' from existing workflows and provide value right away?
Technology has helped make running a small business easier in many ways. Not long ago, a good website was only possible for bigger companies with developers and designers. Bulky cash registers were standard until Square and tap-to-pay revolutionized point of sale.
AI is here to stay. Don't be intimidated by the novelty or its transformative nature. Turning thoughtfully to AI can give human teams time back for the parts of the business they - and their customers - love.