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  Do not believe the lie. Your SME does not have to remain small simply because there is a small in front of the name. SME’s do not have to remain at a small stall for the remainder of their business days. There are various avenues that can be employed to get to best out of the business. This would enable owners to grow in not just customer demands but staff size and in the long run, have branches that can run independently in various states of the Federation.
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What this means is that you can change the trajectory of your SME if you choose to. Here are some growth hacks a business owner can employ.

  1. Digitalize Processes

The good old fashion way works, but not all of the time. This is the 21st century and the reason why a lot of business seems to experience a boom is that they have learnt to digitize as many processes as possible. This reduces the time spent on human decisions and allows the businesses to focus resources on the places that matter i.e. getting quality products to customers. Digitizing processes is one of the best ways to shed off excess weight on the company’s finances.
  1. Improve Hygiene
For a reason we cannot understand, many SME’s do not take hygiene into considerations. Unlike other forms of business that thrive online, SME’s usually have a physical shop space, mall or headquarter where all their products and services are being sold. From research, one can see that the neater the lavatories, the more likely that there would be visitors to an establishment.
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  1. Customer Care

After digitizing most of the processes, there are only a few spots left where customers have to interact with the business. These spots are known as hotspots. These hotspots are the deal breakers for customer experience. Therefore, companies should work towards making sure that the customer care in these places is second to none. Get this right and the cash comes tumbling down.

  1. Interactive Advertisements

Influencers are taking the centre stage but regardless, advertisements still have the final say. There is something homey in the traditional mode of advertisement that cannot just be taken away. While advertisements can be expensive, it is important for SMEs to ensure they have interactive advertisements that sell their products as a must-have for a happier life.

  1. Customer Feedback

Always ask for and receive customer feedback with grace. SME’s can adopt the more traditional approach of having a suggestion box or the likes. This would greatly increase the chances of aligning business goals with customer demands. SME’s have an upper hand over other types of businesses because they are in personal contact with the customers. Once an SME has gotten these five hacks in order, there is no limit to how far they would be able to go. This is because any great business is hinged on these five pillars. Ignoring any of the above is fatal to the profitability of the business. It is in an SME’s best interest to take these into considerations and employ these hacks for speedy growth. Featured Image Source: BBVA
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This article was first published on 21st October 2021

grace-christos

Grace Christos Is a content creator with a proven track record of success in content marketing, online reputation management, sales strategy, and so much more.

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