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Life isn’t easy for small businesses. Although the internet has made it less challenging, there’s no doubt that big firms continue to have considerable advantages. Massive brands enjoy a better reputation among consumers, more media attention, and smaller operating costs due to increased revenues.
Unfortunately, all of this matters in the minds of shoppers, as 71% of customers will buy a product or service from a business they recognize. Ouch. The key for SMEs is to grow and expand, but these processes aren’t always realistic as it takes time to establish a brand and base.
So, the next best step is to fake it until you make it. Here are four options.
According to Blue Corona, nearly two-thirds of businesses have a website. As a result, it’s not easy to stand out from the crowd when everyone uses the same tactics. Thankfully, there’s another option – a logo. For the most part, only big companies invest in brand ambassadors because it’s essential to their image. SMEs believe it to be indulgent. Unfortunately, this assumption is wrong. A logo makes you instantly recognizable to customers, and it also puts you in the same category as those who have one already. You can piggyback off the perception that only huge companies – Nike; Apple – use logos.
One of the best parts about being an enterprise with limited resources is that you can disregard the usual expenses. For instance, office space is not necessary when you have an internet connection and video calling software. Unfortunately, the side-effect is that customers and clients can tell that your operation is on the small side when correspondence goes to a residential address. What’s the solution? You should invest in a mailing address. A PO box is an affordable way to use a prestigious address so that you don’t have to tell people you work out of a coffee shop.
Another feature of an SME that stands out like a sore thumb is a casual form of communication. WhatsApp is an incredibly powerful platform, yet it may indicate that you can’t afford standard corporate technologies. With Lingo Communications, there’s no need to omit them from your plan. Aside from not costing a fortune, IP-based cloud solutions are flexible and fluid. So, you can carry on working from anywhere in the world at any time, but you’ll also seem more professional. A business telephone service is a no-brainer.
At first, a simple name is more useful because it takes time to think of something witty or catchy. However, in the long run, it’s counterproductive because it doesn’t have a professional tone. Your name, for instance, isn’t very formal. But, your name followed by ‘Associates’ or ‘Group’ adds an entirely new feel to the business. Also, you may want to consider tweaking the structure so that you’re a limited company. This adds protection, as well as a sense of expertise.
What will you do to make your business look larger so that you can compete on a bigger scale?