It's 2024... There's no denying the fact that nowadays, AI is going to become a driving force behind growth and success in business.
Not only that, but... It already is.
What we mean is that if you are a business owner, entrepreneur, or stakeholder in a growing business, and you or your team are shying away from the topic of leaning into AI, the time to invest in this advanced technology is now.
It's for this reason that we wanted to put together some of the best ways to leverage and use AI to support your small business.
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Shameless self-promotion aside, let's dive into the 8 best ways to use AI to support your small business.
Marketing Support
When we're talking about AI, we're not just referring to everybody's favorite tool, ChatGPT.
AI is also being developed and used by many marketing tools and platforms like Google, HubSpot, MailChimp, Meta, and others use AI to provide recommendatios and strategies for users and businesses.
Especially for those business owners and businesses that may not have a marketing team, or not have a great deal of marketing knowledge, these AI tools can be a blessing for marketing support.
Marketing & Operations Automations
Not only can you use AI to help support and optimize your marketing, but AI recommendations and tools can also be used to create automations, and to help support the function of automations
A lot of the time, your different CRM or ERP software tools have AI integrations that can help you create automations, dashboards, or other reports to help you not only streamline operations; but also save you time and money.
Inventory management
Inventory management can be a daunting task, especially for first-time business owners, or businesses that are in a period of fast growth.
AI can often help calculate reorder points, keep track of inventory, and generally make this a less stressful task when paired with an inventory or operations software.
Supply chain support
Not only can you track inventory, but you can also use AI to help with re-orders, demand prediction, sales route optimization, and more.
We often suggest pairing your supply chain software or CRM software with a powerful AI plugin or tool to help you manage vendors, contracts, demand prediction, and other (often hard-to-calculate) components of supply chain.
Financial management
The biggest benefit of AI in financial management is the creation of reports and dashboards, and supporting in developing understandable analyses and predictions for your business - often simplifying your accounting and financial processes.
Human resource management
There are lots of AI tools to help with recruitment, hiring, resume reading, and performance management. It can also help with the standardized development and creation of role descriptions, training modules, people processes and more.
We suggest integrating these into your small business, especially if you're in a growth phase where people management is becoming increasingly important.
Sales optimization
You can leverage some AI tools to create content, manage leads, interpret and analyze customer interactions, qualify leads, and even help with outreach automation.
We suggest integrating an AI-powered plug in or tool into your sales or pipeline software to help you capture, analyze, quality and reach more leads.
Research
Last, but certainly not least - AI can be used to help conduct research for your business. For those growing businesses and small businesses that are looking to develop new products and services, enter new markets, or develop new strategies, AI (namely ChatGPT, for example) is an invaluable tool that will help you research and develop strategies and get answers for your business.
How to use AI to Support your Small Business: Summary
At the end of the day, the time to implement AI into your small or growing business is today.
Whether it's doing something as minor as helping your understand the demographics of a new target market, or as significant as creating financial reports and supply chain analyses; AI has the power to level up your business so you can grow sustainable and effectively.
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Disclaimer
The ASC Business Consulting Blog is a resource to help support, guide, and teach entrepreneurs and business owners. It is not meat to solely be used to develop business strategy or provide legal advice to businesses and owners.
If you are interested in working with our team to have a strategy or solution custom made for you, to be used to develop and guide your businesses' strategy and success, please contact our team.
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