QLD Gov's $10K innovation grant: Last chance for SMEs to apply
This government innovation grant will kick start growth for Queensland businesses.
There are less than two weeks left to apply for The Queensland Government’s Small Business Digital Grants Program, which matches funding of up to $10,000 to provide small businesses with “access to digital technologies and services to enable them to work smarter, engage with the global economy and make the most of online business opportunities arising from digital disruption.”
The grant program intends to help Queensland small businesses be in a stronger competitive position, locally and globally through new technology. The $10,000 is available for SMEs to purchase hardware, software and services that enhance the digital capabilities of their business.
One way that businesses are taking advantage of this grant is by investing in their online presence to improve the conversion rate of sales on their sites. Conversion Rate Optimisation (CRO) agency Conversion Kings is one example of businesses seeing an increase in uptake of their services as more SMEs look at smart ways to generate ROI through the grant.
Commenting on the attractiveness of the grant and new tech to SMEs, Matthew Pezzimenti, Director of Conversion Kings, said, “More business owners are realising that they can make better use of their budgets by investing in areas that generate income. By identifying what motivates a customer to make an online purchase, or pin-point the reason that they abandon their shopping cart, business owners can make smart, data-informed decisions about their platform to increase sales, without having to spend more on advertising and marketing. For Queensland SMEs, taking advantage of the Small Business Digital Grants Program means that they are directing budget towards programs that have demonstrated success rates and minimise the guesstimating that is often present in marketing and advertising strategies.”
CRO is one of many new technologies eligible as areas for investment to receive the grant and has grown in popularity over the past few years due to the accuracy of its results and applicability regardless of business size or industry.
One business which has benefitted from CRO is Dental Members Australia (DMA) – a no credit check, interest free way of paying for dentistry. For DMA, Conversion Kings was able to conduct A/B testing on their site to solve customer problems and in turn, increase conversion rates and profit. In DMA’s case, creating intelligent online experiences from data and customer feedback is more cost efficient than a customer service centre and enhances the user experience, enabling them to grow faster.
You can read more about the grant at https://publications.qld.gov.au/dataset/65723874-b04d-4fbb-ab4c-3df1633c2807/resource/d9d5dbb8-85db-47d8-a65d-e72643dd28a6/download/161101-small-business-digital-grant-program-final.pdf