Why do SMEs struggle even if they have the Best Product in the market?

Updated: Sep 21



Having the best product in the market is an upper hand and Having amazing customer support is the icing on the cake. Right?


No, This was true a decade ago, Today, these two things are important, but the most important thing is where you will sell your product. You need those buyers!


Businesses, Distributors or direct consumers to whomsoever you are selling!

How will they know about your product?

Networks? Referrals ? and some luck from the associations you have joined?


ALL OF THE ABOVE IS NOT ENOUGH - It’s Outdated.


You need to take your business digital with automation and digitalisation.


I am sure you must have listened to this advice 100s of times!


But right now, it’s a do-or-die situation because everything has moved digital, and SMEs are the worst affected sectors.


1000s of startups are disrupting those big projects or clients!


IT’S ALL THE POWER OF DIGITAL TRANSFORMATION!


According to a survey, Over 67% of SMEs are struggling with growth and automation in their businesses!



Why Best Product is not enough!

Having the best product has already made your business 30% ahead of your competitors, but the rest 70% depends on how you will market it or how your prospective buyers will know you have this breakthrough product.


It all came down to having great marketing for your product to make it a successful bet for your business!


Without Marketing, your product will never be able to give you those Dream Returns or a Big ROI.


There are a lot of businesses whose products are not so good but with amazing marketing and sales fundamentals in their business.

.

They are generating Crazy Sales in the industry!



What is the Solution?


Firstly, Automating the recurring operational tasks!


Fact suggests “ SME owners spend over 60% of their work in managing and optimising the operational activities of their business.”


This is due to a lack of business automation and digitalisation.


The business owners' major work should focus on how to Grow and Scale their business and look at the macro levels!

But major time is spent on the micro level, which can be easily automated!


Some of the Tasks that can be easily automated are-

  • Preparing lists of customers and leads

  • Segmenting the (Prospective customers) -( Interested, Not interested, Closed)

  • Assigning the tasks to the sales team

  • Keeping track of the work of the Team

  • Daily log reports of workers working in the company

  • Daily track reports of financial activities

  • Analysis (weekly, monthly, bi-weekly, quarterly, annually) - Strategy Decisions




AND MUCH MORE


The list is endless. There is a lot you can automate in the business,

So that a Business owner can think about growing and scaling the business rather than completing the daily operational tasks.



Secondly,


Building your Business Brand and Marketing your Product in front of the right customer.


The Major problem is the non-ability to reach the right customer.


And keep depending on the networks, referrals, and associations.


The rules have changed, and so should your business also!


Start the digitalising process of your business.


Firstly the focus should be on the Business profiles

  • Business Details on Google

  • Business Page on Linkedin

  • Business Owners Page on Linkedin

  • Business and owners on Facebook


Secondly, Build a Proper detailed 22nd Century Website, unlike the average SME's outdated websites!

It should have trackers for tracking the customer details and their details.

The website should clearly state your product offering and also should have clear knowledge about how to reach out to you directly.


Installing ever-essential Google Analytics and Pixel Managers on your website!


Apart from the above!

The list is endless!


There are 1000s of things that can be done to make you the leader of your industry with skyrocketing growth and sales.


Yes, that’s true. We have done that for many! And we can help you too!


Book a Strategy Session for your Business with our Expert Team for FREE.

And we’ll guide you on how to achieve these results.



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