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Focus On Your SMB Baby Steps to Enjoy Giant Leaps

You can work hard to transform your SMB (Small, Medium Business) and take it to the next level. Many companies worldwide are classified as small to medium, yet only some enjoy the success of larger companies. However, the types of customers large businesses enjoy aren’t out of reach for you.

Making changes at your company takes time, dedication, and planning. Our secret upfront, SaaS—Software as a Service—is the vital differentiator. A complementary version positively impacting the company outcome is ‘Sales as a Service.’ Our collaborative blog, Focus on Your SMB Baby Steps to Enjoy Giant Leaps, offers insights for you to consider seriously.

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Your SMB Baby Steps to Enjoy Giant Leaps

Image by Geralt ~ Pixabay

Invest in Your Employees

Your company relies on many things, but not so much more than the diligent employees working diligently to run it. Many businesses don’t invest in employees, but this is a mistake. Employee education, such as retail manager training, leadership seminars, and safety courses, helps bring the best out of your hard workers. It also helps ensure that a certain level of trust and loyalty continues between your business and the people who work for you, helping with retention.

SaaS Will Help Transform Your SMB

SaaS from the technical standpoint: SaaS is Software as a Service. It is a way to get the software your businesses need on an ad hoc and cheaper basis, which is essential for small businesses since the cost of IT systems and software is high. The average price of these systems for a small business is up to $3,500 per month. SaaS offers solutions based on what you specifically need and will use, often at a much lower cost based on a business scale.

Embrace Digital Transformation

Software and IT help bring your business into modern times with a digital transformation. What does this mean? It takes existing data and digitizes it. This includes everything from embracing online systems such as customer bookings and services to holding data in a digital database. Additionally, it means producing a website, blog, and even video content for your business.

Get the Marketing Right

Marketing is critical for attracting new customers, keeping existing ones, and getting your name out there. Modern marketing includes online presence, search engine optimization, and pay-per-click campaigns. The latter two can be unpaid and paid, respectively. Any modern business needs both to accelerate short and long-term growth. But they aren’t mutually exclusive. Digital marketing agencies can help strategize a system for guaranteed results.

Transform Your SMB with KPIs

About 90% of all global businesses are small to medium, but that doesn’t mean you can’t use the methods of larger companies, such as KPIs. Key performance indicators are a popular way to measure success based on various internal and external data as part of a content strategy.

Customer retention

This measures how many customers you keep over a given period. When measuring this, it’s wise to also look for reasons why customers are not returning for business.

In-quarter rate

An in-quarter rate measures transactions that have been missed within a given quarter. Identifying these means you can streamline opportunities and the upcoming direction.

Contract value

For sales or finance, customer accounts should grow and earn more. By measuring contact value, you can verify each customer account’s growth (or lack thereof) and strategize for more.

On-time renewals

Your ongoing customers might be under contract. On-time renewals measure the number of existing customers who have retained your services for continued business.

There are a broad number of KPIs, and they are business—or sector-reliant. Certain metrics can hinder or help your company overall, and they can also be used within risk assessments.

Focus on Building Your Brand

Branding ties into marketing but is more than a fancy logo and a catchy slogan. Modern digital marketing agencies will help with branding, including the two aspects mentioned earlier. However, modern customers like to feel closer to their favorite brands. DMAs can encourage your customers to engage and buy more from your company. This includes relatable backstories, social media engagement, and addressing modern issues.

Capture Customers from Various Sources

Inbound customers are the bread and butter of a fledgling business, while retained customers are the lifeblood of established ones. However, you need to keep the customers coming, and you can do this in many ways. Engaging content on your blog will help bring in already interested customers. You can use SEO, internal links, and supplemental materials such as eBooks and videos to leverage content. However, all content must be relevant to your business.

Customer Service Helps Transform Your SMB

Too many large companies need better customer service. According to Qualtrics XM Institute, 78% of customers don’t complete a transaction because customer service is lacking. So what can you do? There are many ways you can make your customer service better. This includes using various content methods, adopting a ticketing system for issues, and even using Live Chat software with humans and AI. Most customers prefer the latter.

Explore a Broader Market

Unless you focus on one specific product or service, there are often more ways to increase revenue based on embracing a wider market. The systems you have in place might also be adaptable to other products and services. These can be marketed as add-ons for existing services and customers or as separate products. Either way, there is always some way to expand your services into a diverse marketplace and increase your customer base.

Conclusion: Focus On Your SMB Baby Steps to Enjoy Giant Leaps

Investing in employees with training and education will help transform your SMB. This also helps retain valued employees. You can also monitor specific metrics through KPIs such as customer retention. Tracking metrics helps keep your business on track. Finally, your services can often be expanded as you search for more business in new markets. New markets translate to new opportunities for more customers and more successful partnerships. 

The initial steps are your vision, focus, plan, and willingness to continuously revise what doesn’t perform well into something better. At the heart of growing a business is to keep your clientele in mind.

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Sales Tips: Focus On Your SMB Baby Steps to Enjoy Giant Leaps

1. Commit to your long-term vision for accomplishment(s) and to enjoy business success. 
2. Review all strategies to realize where you may implement a better approach.
3. Ensure you are current on technology and apps for quality and efficient delivery.
4. Be open to all new ideas for consideration to uncover the better ones for your business that benefit clientele and the communities at large.
5. Take longer breaks during the weekend to allow your mind to wander and create new ideas.
6. Consider what may further motivate you, the staff, and your community to benefit many and inspire further interactions.
7. Always balance the bottom line with additional expenditures to ensure a solid footing.
8. Stay current with industry news and research what the pundits say to realize better ideas for motivating the people you work with to new levels.
9. ‘Don’t give up – find a better way!’
10. Celebrate Success!

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