SME Business Guide 2016 (part 2) (Demo)

Part 2 of our SME Business Guide features letters N – Z and contains practical  information that may be of use to you if you are growing your business. (Click here if you missed part 1!)

SME Business guide (part 2)

N – News: be aware of trending topics in the media. If it resonates with your business, jump on the bandwagon.  Don’t be afraid to share topics on social media. For example, if you are a coffee shop and scientists announce coffee reduces wrinkles (we wish!) then share this news on social media and promote your wares! Trending topics are easily found on Twitter – just remember to use the relevant  # in your post.

O –  Online presence is a dominant factor for business growth; specifically being ‘found’ online through search engines.  First page ranking has the most benefit so aim to get your business ahead of the competition by choosing relevant content and blogging as regularly as possible.  See our blog on the importance of content marketing.

P – Promotion in terms of social media, allows you to extend your reach to a larger audience and one in which you target specifically.  Paid campaigns are great when you have something to promote such as a video, a new product range, company changes and so on.  For as little as €1 per day you can aim to reach 1,000+ target market on Facebook. This is beneficial in the early stages of growing your business and funds are minimal.

Q – Quarterly targets are a great way for you to break the year into a three-monthly, goal setting strategy for lead generation or sales targets. Set out your (realistic) objectives and by splitting them up, they may appear more achievable, which may help with motivation!

R – Responsive web design refers to a website that responds to the type of mobile device it has been viewed on, i.e. it shrinks to fit a smaller screen.  This is important because of the rise of the smartphone which has increased internet users both home and abroad.  This links to user experience [see UX below]. If it’s not already responsive, invest in a new website as soon as funds allow.

S – S.M.A.R.T. objectives acronym stands for:  Specific, Measurable, Achievable, Realistic and Timeline. Using this system can help move goals and objectives into a reality.  They can help to maintain focus on the desired end result and assist with the development of the objectives.

T – Target audience means the market demographic you have identified to be best matched to your product.  This does not have to always be the end user because consumers are not always the purchasers. The decision making unit (DMU) as a whole needs to be identified, in terms of maximising the reach for the target audience. As an example, think about who initiates the need for your product.  Their influence on the buyer may lead to a sale.  Make it your product they purchase!

U – UX [user experience] is a key factor in getting visitors on your website to stay and engage with the site.  Most people will use hand held devices while accessing the internet, so having a responsive site that shrinks to fit the screen is a good start. What information are you providing? Do you have useful tips that visitors would share on social media? A good UX can convert visitors into customers so is vital to business growth.

V – Video marketing is a fantastic way to promote your business online.  Once you have your video it can be uploaded to your website & social media channels to reach new customers. For example, behind the scenes live footage can boost your image to potential clients.  Your video can also be used at trade fairs & exhibitions; basically anywhere you want to promote your company.