SME MARKETING
Get Set 2021 : SME ’ s Are Making A Come Back !
By Valerie Ambetsa Siganga
“
You can ’ t go back and change the beginning , but you can start where you are and change the ending .” C . S . Lewis . Without a doubt , 2020 is a year for the record books . For some , this has been an amazing and blessed year , with more money in the bank than ever before . Many others , however , have faced a tough challenge staying in business and attaining success . The global pandemic has rocked SMEs , forcing thriving companies to change focus in a bid to survive . As the founder of an SME that focuses on marketing services , the pinch of the pandemic has been felt for several months . There is so much that can be written on the psychological , financial and economic effects to SMEs - the owners and the working teams , though this article takes a different view . I share lessons here-in that I ’ ve learned while going through unchartered territory , and how SME ’ s can make a comeback in 2021 .
The Rapid Growth of Gig Economy
Marketing activities often call for a large team of temporary staff , as well as contract staff and suppliers to get the job done . These team members are typically hired on a per project basis . SMEs tend to maintain permanent staff for repetitive tasks . With the ongoing pandemic , funds have been tight , and many SMEs have let their staff go . Though this was devastating at the beginning of this year , it has led to a new opportunity for many workers , and SME leaders . The growth of the gig economy . In the gig economy , hiring is done on a project basis . The benefit of this is that it is possible to get people of all levels of skill working for a project from start to completion . Payment is then based on the project and the work required . The learning in 2020 is that there are people available to do jobs at every level , including upper level executives , and with the project at stake , they deliver beyond expectations . It is also so much cheaper to work one project at a time , rather than hiring full time staff in a large office space . In 2021 , the focus will be on clear definition of tasks to ensure that outsourced staff are able to meet objectives .
The Shiny Object Syndrome
This has been the season of shiny objects . Shiny objects are seemingly amazing opportunities that continuously appear before you . They tempt you to change your line of business and move with the crowd so that you can make money . As a small business owner , the pandemic caused panic , and there were plenty of shiny objects that were explored . Needless to say , the result was a significant loss of the little income available , a waste of time , and a big hit to motivation . The positive side of this is that for me , and many other small business owners , it has become clear that staying focused to your core business goal is essential . In 2021 , this means having conversations with successful entrepreneurs that have weathered a few storms rather than peers in the same state of panic . It has also become clear that no matter what business you are in , there is always someone willing and able to pay for your product or service offering .
A New Look at Customer Needs
Customers are rarely as discerning as they are now . They ’ ve learned how to stretch their last shilling to meet their needs . This journey has taught customers what works for them , and what doesn ’ t . With cutting costs and in some cases purchasing substandard goods or services , customers are realizing that in some cases , it ’ s better to pay more for the right quality . This means that you should not worry much about what your prices are , thinking of cutting them down to meet customer needs - rather focus on finding the right customer . This approach is different from how many SMEs market their businesses , where market needs , and customer feedback are the basis for making growth focused decisions . Now , it ’ s necessary to ask for customer advice rather than feedback . Feedback investigates the past whereas advice looks into the future and allows for customers to reveal what they really need to fill in their gaps . For a 2021 comeback , I am listening to my customers and ensuring my services make their lives easier .
What does a quick checklist for 2021 look like ?
Have one major marketing goal for the business that encourages and motivates you . Then create 4 minor marketing goals that you can evaluate each quarter . Keep it simple as there is still uncertainty , and it ’ s necessary to be flexible and make changes when necessary . Build up your core loyal customers . Where the market is fickle , these are the customers that will keep your business going . Do not worry about how much they are able to give to your business , focus on how consistent they are in choosing your products or services - and of course paying you for them .
Get focused on your core business idea , and the steps that it ’ ll take to help you meet your goals . Avoid Shiny Object Syndrome - you may lose money , focus , time , energy and ultimately , confuse your customers . At the beginning of this year , if I had been asked whether my business would survive the pandemic , my response would have had fear , concern and doubt on how to make it in marketing , when marketing comes to a standstill . 2020 has helped hone business skills , better manage expenses , meet goals , and achieve results . 2021 is time for a major business comeback - taking one step at a time , and never losing sight of the big picture .
Valerie Ambetsa Siganga is the Growth Strategist at Pink Africa Marketing , a Marketing Agency that helps businesses grow . You can commune with her via email at : Valerie @ pinkafricamarketing . com .
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