Localogy regularly measures the nature and pace of technology adoption by small businesses. We kicked off this year’s L24 event in Texas with a fresh data-driven perspective on how small businesses continue to embrace new technologies, in particular SaaS tools, for everything from acquiring customers to accepting payments.
Key Takeaways
Localogy analyst Mike Boland shared a few key highlights from the latest Wave of Localogy’s Modern Commerce Monitor (Wave 9).
- SMB SaaS adoption is flattening, a natural occurrence now that around 90% of SMBs say they are using some form of SaaS. The growth in SaaS adoption has been flat over the past few years following a period of very rapid growth.
- The profile of the SMB is changing — younger, more digitally native, with more of a technology-first approach. Future growth in SaaS will be driven by overall small business growth plus a much more tech-forward SMB profile. In other words, new businesses are being started in a technology-first manner.
- Also driving future growth is that SaaS spending per SMB on SaaS tools is rising.
- Explicit AI usage among SMBs (i.e. using an AI app vs passively using AI applications like spell check) stands at 31% today. Mike sees the biggest opportunities in advertising/marketing and customer support.
State of SMB Report – 2024
Localogy regularly measures the nature and pace of technology adoption by small businesses. We will launch this year’s event with a fresh data-driven perspective on how small businesses continue to embrace new technologies, in particular SaaS tools, for everything from acquiring customers to accepting payments.
Mike Boland, Localogy
To request access to the full MCM Wave 9 report, which drops on April 29, email Lizzie@Localogy.com.
