How can you make your business more competitive?
How can
you make your business more competitive?
The strategies that allow an SME to embrace changes in
the marketplace
The ubiquity of the internet and the growth of online shopping
in recent years have made a key contribution to redefining the boundaries of
markets and the circulation of goods. This has opened up many opportunities for
start-ups and SMEs, but it has also created challenges. Their small size and
relative lack of resources sometimes means smaller businesses struggle to
optimise the benefits that technology can bring in the fields of logistics,
marketing and related services. To make a company competitive, it is therefore
necessary to adopt strategies and technologies that can guarantee a high level
of service. But what are the options?
· The constant
growth in online purchase volumes offers both challenges and opportunities for
SMEs.
· To make a
service company competitive, significant economic investment is needed.
Optimise your logistics
According to a survey by eMarketer, in 2020 18% of all
retail sales took place via e-commerce, but it’s estimated that by 2024 this
will rise to 21.8%. Consumer demand has driven many of the recent developments
in e-commerce, not least of which is logistics. Consumers have extremely high
expectations about delivery options, returns processes etc. and these factors
are known to strongly influence purchasing decisions.
Setting up your own logistics department is far from
straightforward, however: you will need to rely on established structures and
qualified staff, and to have the resources to invest in new technologies. And
while these infrastructures already exist in most large organisations, they are
often not present in smaller companies.
Thankfully there is no shortage of solutions – outsourcing
warehousing, logistics and shipping is a smart move for many SMEs.
Collaborating with large specialist providers means they can benefit from the
tools and strategies they need to improve competitiveness, without depleting
their own resources.
Invest in training
For SMEs and small businesses, training and updating personnel
is not simple – it requires significant investment of both money and time. Yet staff
training is crucial, as is recruiting the right people and retaining them. Your
team both represents and embodies your brand and service ethos. Training them
properly means you can easily implement any process changes and transform them
into competitive advantage.
Strengthen your
corporate image
According
to research conducted by MarketingSignals, 37% of e-commerce start-up failures
are caused by the lack of investment dedicated to the visibility and
recognition of the brand in the target market. At MBE we can help you develop
your brand image and then promote it across a range of print and digital
channels. Our competitively priced graphic design and print solutions can help
bring your brand to life.
Manage the peaks and troughs
Smaller businesses sometimes find it difficult to cope with
peaks and troughs in demand, which is why it’s a good idea to work with expert
third-party suppliers like your local MBE centre. Whether you use our
fulfilment and logistics services to manage a peak in orders and deliveries, or
work with our design and print experts to create a suite of campaign materials
aimed at generating increased demand, we’re here to help. And the great thing
is, you can use our expert services as and when you need them. An agile
solution if ever there was one.
With decades of experience, an established brand and a vast
network of skilled professionals, MBE offers small and medium-sized businesses
a wide range of integrated solutions for the optimised digital management of
communication, shipping, logistics, printing and marketing support services.
Contact
us today and give your business a competitive edge.