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Small businesses represent 99 percent of the businesses operating in the United States, but only 30 percent are expected to survive for 10 years. Many issues can lead to a business’ downfall, but often, the small problems put on the backburner trip them up. As your business grows, so can these small problems, such as technology strategies.
Poor communications and technology strategies can have serious repercussions on a business and can affect your company’s ability to succeed. Maybe you can start with a free system, allow employees to use their personal devices, or simply go for the system with the lowest price, but that strategy won’t always work. Disjointed technology means less effective communication, which can cause a decrease in productivity. What started as an easy or cheap technology strategy could now hurt your bottom line. Even for a small business, inefficient communications can cost upwards of $6,000 per employee per year.
Impacts of Poor Communications on Businesses
Lack of Communication’s Impact on Success
Poor communications can be a major problem standing between your team and success. Eighty-five percent of small businesses agree that communication between different teams is fundamental to staying ahead of the competition because no one has time for a communication breakdown. However, if your teams don’t have a strong communications system in place, issues go unresolved for longer, and actions go untaken, possibly making your business fall behind. And one of the top reasons businesses fail? They can’t keep up with the competition.
Poor Communication Impact on Employees
Employees are just as important as success, but if they aren’t being productive, they aren’t helping. Fifty-four percent of small business employees say they spend more time answering emails and attending meetings than performing the tasks in their job description. When your employees begin to collaborate, tons of time can disappear without any outcomes. Countless meetings, endless email chains, and sifting through tons of information don’t necessarily equal a positive result. Meaning nearly 15 percent of employees’ total work time is being wasted by inefficient communications. That’s a waste of your employees’ talents, plus your time and money.
Poor Communication Leads to a Lack of Trust From Customers
Customers expect quick and effective communications just as much as your employees. Seventy-one percent of small businesses say implementing efficient communications and collaboration tools is critical to customer satisfaction. When your company has a communication breakdown, it can also lead to a lack of trust from your customers. Keeping your customers happy can also save you money because acquiring a new customer is far more expensive than retaining an existing one. Not to mention, those satisfied customers can be your biggest (and free) promoters.
Investing in your team with a more effective, accessible, and mobile communications system could lead your business to success. A complete business VoIP system that delivers seamless voice, collaboration, and contact center solutions can simplify and secure every aspect of your communications strategy with an intuitive user experience, flexible service plans, and Google Cloud’s proven reliability.
To learn more about implementing and upholding an effective communications strategy, watch Talk is Cheap - Poor Communications Will Cost Your Business.>
With only one-third of small and medium sized businesses surviving 10 years of operations, everyone understands that cash is king in the SMB world. In this webinar, we discuss how poor communications strategies can cost your business more than $6,000 per employee per year. Not only can this create a financial drag, but it’s even potentially threatening to the very survival of your business.
This 45-minute webinar will cover:
- Hidden communications inefficiencies and how they can stifle growth for your business
- Quantitative and qualitative effects of poor collaboration among your employees
- How the right communications system can save you time and money
