Even the world’s most valuable brands – including Nike, Microsoft, Coca-Cola, and many others – have had to make huge changes. Perhaps the most shocking change has been instruction given to employees to work from home rather than come into the office. However, behind the scenes, supply chains have been hit hard – and many businesses have had to change suppliers and even change locations entirely. Basically, this has been a historical period in the world of business.
In the middle of all this are small and medium-sized businesses, with less global advantage but are still key players in different industries. These businesses have had to fight the hardest, and therefore will need the most help moving forward.
So, if you’re an SME owner, here are some success tips to take on board.
1. Provide customers with mobile and web apps
Modern consumers are a demanding bunch. They love being able to shop online and digitally communicate with businesses, be it through social media comments or customer service agents available through websites.
This will help to drive customer engagement and future-proof your business. A lot of sales come through mobile and web apps these days – so this is essential.
You’ll need help setting up a high-quality mobile and web app, so it’s recommended that you visit
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2. Offer loyalty programs
Loyalty programs are a major hit with customers.
The concept of a loyalty program is simple. Customers sign up for your program (usually through making an account on your website), and are rewarded for continuous engagement with your brand. For example, for every $200 worth of purchases they make, they get a 50% discount on their next purchase.
Essentially, loyalty programs are a great way to incentivize the modern customer. It’s a win-win marketing strategy – as there really is nothing to lose through offering a loyalty program.
3. Embrace creativity
The present world of business is all about creativity. No one wants to engage with an uninteresting brand. Instead, customers want creative products and marketing. For example, many SMEs are harnessing the power of social media influencers who can provide them with creative marketing content.
It’s now very common to see an influencer plug a product through Instagram, usually through a high-energy and fun video, which then ends with them encouraging their audience to head over to your online store and purchase the product (sometimes with a discount code provided by the influencer). It’s a smart strategy to deploy.
4. Hire a board of advisors
Providing it’s financially plausible, hiring a board of experienced advisors is a sure-fire way to increase your success.
A board of advisors will be able to provide you with assured, proven advice that will active you to manage your business more efficiently. Remember, it’s difficult to achieve anything alone in business – so hiring some advisors is an excellent choice.
5. Set monthly revenue and profit goals
To do this successfully, you need to set monthly (and achievable) revenue and profit goals. This will give your business much-needed focus and direction. As each goal is achieved, you can gradually upscale your ambitions to match your continued growth.
