“Canadian small and mid-size business confidence made a step upward in April.” Canadian Business Magazine http://ow.ly/4NVhw
This is great news for small and medium sized business owners alike. Things are looking up, and with that comes a need for smaller companies to maximize their ability to compete with the big established ones.
Advantages of Smaller Companies
Smaller companies have many advantages over the big guys. Rather than rely on what worked in the past, smaller companies are willing to try new things, take risks, and embrace new online technologies. They are small enough to be able to make quick changes and adapt to current economical situations.
Meet Your Main Revenue Source – The Customer
Currently we are undergoing a massive change in how companies deal with their main source of revenue; the customer. Traditional advertising platforms are losing their effectiveness and smaller companies have been the first to embrace new technologies and ways to build customer relationships.
Engaging Your Customers
Small businesses have the ability to create and foster a consumer focused culture based on customer engagement. The idea of talking to your customers and giving them what they want seems so basic and yet for years big companies have been ignoring them; rather like a parent deciding what’s best for the children rather than talking or listening to what the child wants or needs.
A consumer focused culture will result in so many positives for your business it’s amazing it’s taken this long to figure out. Positive feelings towards a company result in word of mouth endorsements, increased customer retention, loyalty and advocacy from their client base.
Use Online Technology to Get an Early Jump
What are these new online technologies? There are a host of social media, optimization, analytics, online marketing and lead generation tools and technologies out there. Utilizing the right technologies for your company is the first step to achieving the confidence that small and mid-sized Canadian businesses are experiencing today. Tell us what tools and technology you are using to engage with your customers and get an early jump on the competition – we’d love to hear what’s working and not working for you.
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