New technologies have brought about irreversible changes in our habits to the point where it is now difficult to do without them. For companies, this is much less obvious. There are many small and medium-sized businesses that are still unable to take advantage of the full potential of these new technologies. For example, in the digital field, there are not many that have implemented social networks, SEO or email marketing in their habits. And it is for them that this article exists. How can they compete with digital tools?
By doing a SWOT analysis
Today, thanks to the Internet, it is easier to study yourself to know your strengths and weaknesses. It is known that not knowing who you are is the best way to fail. The popular wisdom that comes from Socrates reminds us: “Know thyself”! Therefore, an SME that wants to see the competition in the rearview mirror must first get to know itself. This is the first step before studying the competition or analyzing the strategies to be put in place to triumph over it.
To this end, the exercise consists of evaluating its strengths, weaknesses, the strong points of its products and services, the potential of its business, the way its teams sell, etc. Here, we must also study the company’s internal assets. This can come from its teams or from its intrinsic values. If you succeed in the SWOT analysis (Strengths/Weaknesses/Opportunities/Threats), you will know your Achilles heel and how to correct it.
We already recommend our coaching solutions to get general and financial advice for your business. You can also use tools like SEMrush, Google Analytics or Ubersuggest to study your online presence. The list is not exhaustive.
By doing competitive intelligence
If you are reading this paper, it is certainly because you know how important it is, to perpetuate your business, to regularly observe your competitors and more generally the activities in your sector. It is crucial to have an eye on your opponents, because this is what will allow you to stand out and stay in the race towards success.
There are a multitude of digital solutions to accompany your competitive intelligence drive. You can start with the traditional SEMrush, Google Analytics or turn to newer models like Crayon or Feedly that each have a distinctive personal touch.
With these and other tools you may have, you will be able to research all the online and media information associated with your competitors. You will then be able to analyze this data to gain valuable insights to help you make decisions. The objective of setting up a monitoring process for your SME is to put all the chances on your side so that you don’t quickly find yourself at the end of the race.
By using digital opportunities to communicate wisely
Digital offers almost unlimited opportunities for communication. It is up to you to make your SME benefit from this manna.
The power of social networks
Social media is the norm today. The least a small business can do today is to have a presence on the major social media. But being present on Meta or TikTok is not enough. You still need to give yourself some visibility. Tools like Buzzsumo, Creator Studio or HootSuite are there to help you study the competition in your sector on social networks and also to implement a relevant social media strategy.
This will allow you to easily manage your presence on social networks and to have impactful and productive digital campaigns.
Make striking visuals and graphics
When it comes to powerful visuals and graphics, there are several content creation tools, but Canva is our favorite. You need interesting visuals to get your message across in your campaigns. The great thing about tools like Canva is that they can help you spruce up your physical advertising campaigns. You can indeed print your visuals and boost your sales through classic communication methods like flyers. However, it is even easier when you want to use Canva for your digital campaigns. Canva is definitely a powerful tool to stand out from the competition because it also helps you when you communicate online.
Implementing effective digital marketing strategies
For prospecting or for the loyalty of your community, you will have to implement digital marketing strategies. They will allow you to reach more prospects, expand your customer base and boost your numbers.
For example, Mailchimp is an emailing-friendly communication tool that SMBs should use to reach their customers. Whether it’s to stay in the minds of prospects who have come to your platform, to “cast a wide net” or simply to let potential customers know about your products and services, email marketing strategies have been proven to work.
There are other digital business development tools that can be used in addition to emailing. LinkedIn for example is, in our opinion, underrated by SMEs.
By automating certain processes
From the moment you sell products and services, a CRM (Customer Relationship Management) is necessary, even unavoidable. It is a sales management tool that helps you manage customer interactions, store their information and automate a number of processes that are related to the customer journey. This can be billing reminders to sales people, automated reminder emails, etc.
A CRM tool is a Swiss Army knife for an SME and is far from being limited to a simple database of customers and prospects. It offers tools for analysis, creation and communication between the SME’s teams.
However, if it can be synonymous with saving time and efficiency, you must be careful with the sometimes excessive cost of this tool. It is up to you to study your needs and the specificities of your SME to get started.