5 Simple Ways How SME's Can Beat Larger Rivals

There are thousands of startups in Kenya that have bowed to pressure from big players who have the financial muscle, resources, and more experience in their fields.

It is not easy for a small company to compete with a company that has lots of cash to spend on marketing. Facing competition is no mean feat and quite frustrating for upcoming businesses.

The good news is that it's not rocket science and there are ways in which SMEs can beat this competition.

1. Communication

It is imperative to always keep in touch with your customers. Do not just send emails about any new products or services you have introduced into the market, make personal phone calls and visits (face-to-face), if possible. Let your customers know that they can trust you, even in the wake of sudden competition. Have an open channel of communication, where you talk to your customers regularly, and if they want something done, you implement it quickly.

2. Build Relationships

Relationships that are built on mutual trust and openness are difficult to break. When a company makes a positive impression on its customers, it is usually difficult for that customer to be swayed.

Some of the benefits you will enjoy from building long-term relationships with your customers are as follows,

  • Your customers will be your brand advocates, and this will reduce the pressure of marketing.

  • Offering great service will encourage repeat business, establishing a loyal customer base.

  • You will have a competitive advantage over even the big players, simply by focusing on the process and not the result. Your customers will be more satisfied and increasingly likely to use your services again.

  • When you build long-term relationships, you increase your chances of getting positive feedback from others.

3. Differentiation

What makes you different from the competition? If for instance, you are selling clothes, what makes you different from the big players in the market. Is it that your clothes are cheaper, or you cannot find a duplicate of your clothes in the market, or you cater for the plus size women only, etc. Use that in your marketing to make sure you clearly explain why customers should choose you over all the other options.

4. Flexibility

Try as much as possible to be flexible while offering your services. Look at what the competition is doing and be at par or even better than them. For example, you will find that Kenyans love it when they engage with a company that can have products delivered to their doorstep. You can go the extra mile by saying that delivery is free within a certain radius. I bet you, just by being flexible, you will create a memorable experience and your customers will keep coming.

5. Technology

Truth be told, technology has become part of us. You do not need expensive software to please your customers. Some great email etiquette, relevant WhatsApp messaging, free CRM software to help you manage your clients, etc., will go a long way in helping your company beat the competition. Just use technology to touch the inner souls of your customers.

So, go out there, do what you do best, and don't be afraid of competition from the who's who.

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