When it comes to business growth, there’s a rule of thumb that you can’t ignore: Methods like accessing a cloud-based Enterprise Resource Planning (ERP) system are vital for SMEs to grow without jeopardising their stability or profit margins. Anyone without a well-thought-out strategy or plan risks failure or, worse, the early demise of their company.
The above should never happen to an organisation that you have worked so hard to build and raise with your sweat, tears, and determination. Based on insights from Azizan Osman, a business growth expert for SMEs, here are three business growth strategies you can implement right away.
Azizan has built a reputation for providing trusted business growth advice, implementing strategies and resources that are proven to increase ROI, streamline processes, and win over customers. Entrepreneurs, startups, and businesses often consult and seek Azizan’s advice.
As Chairman, Azizan is in charge of Richworks International‘s expansion, which is driven by the company’s overall strategy. He is also the company’s lead representative and is responsible for ensuring that Richworks International is actively involved in the development and implementation of the group’s direction and strategy.
Azizan reveals why ERP and Cloud Platforms are effective acquisition tools.
- Get to know your rivals and get to know them better
One of the reasons a small business could develop consistently is the opportunity to expand into new markets with new or enhanced goods. This is made possible by a thorough, systematic marketing study that examines the entire industry, the competition, and the market’s customer needs.
“When a new marketing theory emerges, one of the major errors that certain businesses that are experiencing a decline in growth make is to adjust marketing campaigns and strategies. What’s the point of switching from one marketing strategy to another if it’s yielding positive results? It is not necessary to take over the entire world in one bite. Good things take time, so you have to be patient and expect that the good results of a campaign will improve and bring excellent growth results,” Azizan explains.
And, in order to thrive in today’s marketing campaigns, you’ll need to rely on technology and the invaluable support of a cloud-based ERP software to help you take a more strategic approach with its efficient data management and planning framework.
- Conquer your customers, as they are your brand ambassadors
Small and medium-sized businesses today believe their growth is directly linked to their desire to overthrow or eliminate their rivals in order to find a smooth path to success, according to experts on the subject. Conquer your future customers’ hearts and minds. Nothing could be more right.
If SMEs were more focused on creating a new demand in their market, attracting potential buyers, and then captivating them with their goods rather than exhausting themselves trying to eradicate the competition, another reality would emerge, and they would be able to ensure their own growth.
All of this is dependent on strategy, an effective marketing strategy operated by a cloud-based ERP programme will allow you to devote more time to building your brand, promoting your services or goods, and attracting new customers, all of which will increase your sales.
“Perhaps addressing this problem appears to be a waste of time because it is considered something obvious,” says Azizan, “But your customers are the ones that hold your company afloat, and it is because of them that your business experiences steady but sure growth.”
As a result, never lose sight of the customer because it is the most important link in your company’s chain, without which nothing will exist.
And in order to do that, you must realise that your customer’s relationship with you does not end when you close a sale with him. On the contrary, we might conclude that the mutual relationship starts right there, because it would be dependent on his complete satisfaction that he stays with you, recommends you, and assists you in growing.
How do you cultivate the best customer relationship possible? A Customer Relationship Management (CRM) framework aids in the management of customer information. It helps sales managers by providing actionable insights, integrating with social media, and facilitating team contact. CRM systems that are hosted in the cloud have full accessibility and access to a rich ecosystem of custom software.
- Create procedures that are well-defined
Any of the procedures followed by a small or medium-sized company’s departments must be well established, such that the results are as predicted and the working hours of each of your employees are optimised. It’s difficult to experience market growth without well-defined processes, systems and organisational frameworks.
ERP in the cloud for SMEs is a resource management system that combines all activities, everyday tasks, and business processes into a single platform. Because of the coronavirus lockdowns, businesses have been forced to change their ways of operating almost immediately, and those that use cloud-based services have a big head start.
During the pandemic, Azizan, a Fellow of the Chartered Institute of Marketing, has stepped up to help over 400,000 Malaysians and regional participants through Richworks International’s free virtual online programmes to provide more value to help entrepreneurs and SMEs sustain their businesses.
Many companies have thrived and experienced exponential growth rates that far exceed the national average.