There has never been a more exciting time to be a small or medium sized business. Technology has levelled the playing field - making it possible for SMMEs to compete with big business. Here are a few of the things making SMMEs smile:
Find Your Niche
SMMEs are perfectly sized to offer services to niche audiences. Going deep with customized messages and specialized platforms to a highly receptive and loyal audience is fast replacing the ‘shot gun’ approach to marketing services and products.
Globalization is a reality, and is creating amazing opportunities for small and medium businesses. Marketing your goods or services anywhere is now simple using platforms such as Amazon and eBay. The numerous global payment options available are further helping SMMEs access markets around the world.
Marketing to local community is growing in popularity. Customers are looking for a great experience, and top-notch service. This can best be delivered by a local business. It allows for a more interpersonal relationship and lets the SMME and customer get to know each other much better.
Social selling uses social media to interact directly with prospective clients. This often leads to a faster sales cycle, creating new opportunities and increasing your brands credibility.
Internet of Things
IoT is turning everyday devices into smart devices. SMMEs are leveraging this technology to reduce operating costs and increase productivity. For example, smart sensors to control thermostats to reduce energy usage; or maintaining inventory through automated ordering when stock reaches certain levels.
With rising costs and increasing competition, the challenge for any SMME is to find ways of running leaner without losing productivity. Scalability is the key to cost savings and improved efficiency, and this is why Software-as-a-Service (SaaS) is a vital component to increasing efficiencies in any small or medium business.
ERP, once the sole domain of multinationals and blue chip companies, is now affordable and easily accessible by any SMME. A Cloud ERP solution means fewer IT staff, less hardware, predictable monthly costs, and an ability to scale up (or down) users as required. ERP is a critical value-add to any SMME, and the key to unlocking future growth and success.