Pinpointing the exact steps your business needs to take to stay
competitive can seem overwhelming. The last thing you want to do is put
finite time and resources into activities that don’t lead to results.
How can you ensure the policies set in place to keep up in a challenging
market really work?
Research
As well as carrying out market research in terms of demand, it is worth
looking at how leading competitors have achieved their success. Not all
lessons may apply, for instance, a large competitor will benefit from
economies of scale that a smaller company can’t replicate. The main goal
is to identify (either existing or potential) strengths that will attract
customers, as well as reduce overheads for greater profitability.
Work smarter
Putting in long hours isn’t always the best way to optimise your
business potential. Evaluate what work can either be outsourced to
contractors or handled with a technological solution. Administrative
tasks have never been more cost-effective to automate, with a range of
solutions available at prices within reach of small and medium-sized
businesses.
If you’re still juggling multiple spreadsheets and relying on manual
data entry, adopting new technology to process and store your business
data could give you a significant return on your investment, saving you
many work headaches and delays.
Customer relationships
Inspiring loyalty and trust from customers is worth its weight in gold
in an age where they are able to compare and switch providers in
minutes. You might have written off having a dedicated customer service
department as not viable under your current budget, but there may be a
better way.
By providing an online client portal, you can more effectively handle
complaints and enquiries at an affordable price point, without the need
for extra staff or office space. Customers can create tickets for issues
that can be raised and assigned to the relevant staff members
automatically, prioritised by urgency.
Planning and adapting
Markets don’t stand still, failing to adapt to new challenges can lead
to disaster. Gathering accurate data in real time gives you a much
clearer view of business performance, by cutting out guesswork and
surveys. Using this information, you can make business decisions based
on which products and services are the most valuable, and which
processes are the most productive.
Using the methodology of business process management, you can break your
working practices down into their component stages and carry out
continuous improvements in order to maintain competitive advantages
going forward.
SwiftCase is a cloud-based business process management platform that
helps you achieve and maintain a competitive edge.
- Reduce administrative overheads through automation
- Inspire customer loyalty with an integrated client portal
- Gather business performance data in real time
- Generate statistics and graphs to evaluate strengths and weaknesses
- Clarify and refine your business processes for optimal results
Get in touch with us today, for a free, no-obligation demonstration.