Software-as-a-service (SaaS) tools are transforming how small businesses manage HR, payroll, marketing, finances, supply chain, customer engagement and more. New LSA data shows that this shift to “the cloud” is gaining momentum and all SMB marketing services providers will need to consider expanding their product portfolios in order to increase share of wallet and guard against customer churn.

In this week’s LSA webinar, industry experts Charles Laughlin, Greg Sterling and Neal Polachek explored the state of the market, SMB cloud adoption and what it means for the larger ecosystem. They offered compelling data and discussions including some explanation as to why this shift is happening, giving these five primary reasons:

  • Demographic shifts among SMBs
  • Rising consumer expectations
  • External pressure/competition
  • Desire to simplify, reduce costs
  • Enterprise services moving down market

When looking at the type of SMBs that are adopting cloud-based services, here are some key attributes as discovered by the 2017 Tech Adoption Index:

  • 72% are less than 10 years old
  • 66% have 10+ employees
  • 70% allocate more than 25% of total spend to digital
  • 33% CRM the main entry point for many

The panel also discussed real-world case studies on just how companies are attempting to use software and technology to diversify offerings for existing customers. You can view the entire presentation below.

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These issues will be explored in detail at the 2017 SMB Cloud Adoption Summit in San Francisco 12.7.17. To learn more, click here.