The SME Clinic television program, a key platform supporting small and medium-sized enterprises, returned in September with a must-watch episode titled “Digital Tools for Your Business.” Powered by BusinessDay, the show continues to provide vital resources and insights for SMEs, especially as the number of startups grows in Nigeria’s competitive business landscape.
The program’s relevance in today’s rapidly evolving business environment cannot be overstated. SMEs and their owners must be guided in the right direction to achieve growth and success.
More than just a learning space, the SME Clinic has become a hub for transforming mindsets, with each conversation designed to inspire the next great business success story. The September edition, which aired on the BusinessDay YouTube platform, featured a panel of esteemed experts, including Mr. Temitope Ijibadejo, founder of Surefire Investments Limited, whose contributions left a lasting impact.
Temitope emphasized the indispensable role of digital tools in modern business, describing them as any online resource, platform, or software that businesses can leverage to perform tasks more efficiently. He stressed that adopting these tools is non-negotiable: “It doesn’t matter whether your business is big or small; you need digital tools to thrive in today’s world,” Temitope asserted.
To further clarify the benefits of digital tools for SMEs, Temitope categorized them into six key areas: efficiency, collaboration, communication, cost savings, enhanced customer experience, and data-driven decision-making.
Efficiency: Temitope cited examples from his own company, highlighting how digital tools have been instrumental in driving efficiency. For instance, he mentioned Evergreen Webinars, a powerful technology that allows businesses to host multiple webinars simultaneously, making client presentations seamless. He described it as something “almost real,” despite the absence of physical presence. Not only does it save time, but it also guarantees alignment with prospective investors, boasting a 25% success rate. Additionally, he pointed to AI chatbots as another efficiency-driving tool. These chatbots provide swift, 24/7 responses to customers, even outside business hours, boosting productivity and engagement.
Collaboration: Collaboration is crucial in business, and as John C. Maxwell famously said, “Teamwork makes the dream work.” Digital tools enable effective teamwork, especially with platforms like JIRA, which helps set up and track projects, dividing tasks with deadlines for different departments. Temitope noted that JIRA keeps everyone informed, speeding up the realization of goals.
Communication: Effective communication is one of the most vital skills in any organization. Through CRM technologies, communication has become more seamless. Temitope explained that CRM tools provide a 360-degree view of customers, offering demographic and psychographic information. These tools integrate other communication channels like WhatsApp, email, and phone calls, storing valuable data about customer preferences, buying behaviour, and even pet peeves. This helps businesses maintain strong relationships with customers with minimal gaps.
Cost Savings: While digital tools may initially seem expensive, Temitope highlighted that they save costs over time. He shared that his business, which involves telesales, employs over 20 call agents. Instead of incurring high airtime costs, they adopted Voice Over Internet Protocol (VOIP) technology. This tool places calls over the internet, and its “dialler” feature allows multiple simultaneous calls, saving both time and money.
Enhanced Customer Experience: “A happy customer is a customer who will always return,” Temitope noted, underscoring the importance of good customer service in sustaining a business. He stressed that digital tools amplify this experience, and for startups with limited financial resources, he recommended cost-effective options like email platforms and Zoho CRM.
Data-Driven Decision Making: Digital tools also help track a business’s progress and reveal crucial data that SMEs can use to make better decisions. Temitope pointed out that different industries require tailored strategies, and the data from a fashion brand, for instance, may differ significantly from that of a hospitality brand. SMEs must engage in data analytics and implement credible feedback systems to identify and address business gaps.
The September episode of the SME Clinic, focusing on “Digital Tools for Your Business,” offered invaluable insights into how SMEs can navigate industry complexities using digital tools. As SMEs continue to shape Nigeria’s economy, programs like the SME Clinic play a crucial role in enhancing knowledge and fostering long-term business success.
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