Following on from the pandemic, businesses have been working hard to adjust to the new normal. Lockdowns, working from home, and social distancing measures have shifted consumer culture, with more of the buying journey moving to digital first. Recently, the Government has announced a new initiative that will help businesses adapt with this culture shift and bounce back better – Help to Grow: Digital.
The initiative is aimed at small to medium sized businesses, registered at Companies House, and that have been trading for 12 months. Businesses will be able to get free, impartial online support on how technology can boost their performance through a new online platform.
The Chancellor, Rishi Sunak is calling on businesses across the country to sign up for the Help to Grow: Digital scheme.
What is Help to Grow Digital
From December, businesses will be able to get free, impartial online support on how technology can boost their performance through an online platform. Additionally, eligible businesses will also be able to get a discount of up to 50% on the costs of approved digital software, up to a maximum of £5,000.
Initially, the 50% off vouchers can be used on software that will help your business:
1. Build relationships with customers
2. Get the most out of online selling
3. Manage accounts and finance digitally
How it can Help your Business
The recent pandemic has driven digital adoption across a series of businesses, with TechUK stating that its brought significant benefits, allowing companies to continue to connect with customers.
In a research report carried out by Sage, “over two-thirds of small and medium sized businesses said investing further in technology would benefit their business, and 71% reported that technology would increase their profitability.”
The introduction of the Help to Grow: Digital initiative is timely, given that many businesses are currently still recovering financially from the pandemic, but wanting to increase their digital presence and capabilities. The government initiative will help companies embark or expand upon their digital transformation journey.
How to Apply
Businesses can apply for the Help to Grow: Digital initiative directly through the government portal.
It’s a relatively quick and easy process, all you will need is your Companies House registration number.
Benefits of Building Customer Relationships
Building customer relationships is vital to a business thriving in the current challenging environment. When you keep the customer relationship alive, it is easier to stay on their radar and ultimately lead to a sale. When you have them as a customer, a good customer relationship will keep them as your customer and lower churn rates. Remember, the old marketing adage is true; no one likes a funnel that resembles a leaky bucket.
Key benefits of building better relationships with your customers are:
1. Reach customers early on in the buyer journey.
2. Some buyer journeys can be long, having a good customer relationship improves chances for success.
3. A high level of customer satisfaction improves customer retention.
4. Happy customers tell their friends – take advantage of word of mouth advertising.
5. Avoid a high churn rate.
The Help to Grow: Digital government initiative is an invaluable opportunity for small and medium-sized businesses to embark upon their digital transformation journey. Reach new customers in the channels that they are using to research the problems that you know you can solve. As our society settles into this new normal, it has never been more important to embrace the online experience and build emotional connections with your customer.
Apply directly through the government portal today.