Study: Tech Adoption Linked to Revenue Growth for Small Business
May 18, 2017 | Contributed by: Joe Morsello
From not having a website to using digital tools that analyze purchase behaviors, small and medium-sized businesses (SMBs) span the entire spectrum of digital adoption. However, in today’s market, effective usage of digital technologies is directly related to revenue growth. SMBs not engaging with tech are at risk of losing to those that are.
A new Deloitte study (commissioned by Google) found that the more digitally sophisticated an SMB is, the greater their revenue growth rate is. Bucketed into four levels of sophistication (basic, intermediate, high, advanced), the study found that revenue growth rate for the last 12 months for “advanced” SMBs was nearly four times that of “basic” SMBs.