Six ways for SMEs to keep up with industry giants

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Small and medium-sized enterprises (SMEs) make a significant contribution to economic growth, but also to technological progress. In Germany, almost all companies ( 99.4 percent) are SMEs.

However, if you run a small or medium-sized business, you probably know that japan auto whatsapp number there are several hurdles in your way. One of the biggest challenges is competing with the big names in your industry.

Larger companies invest millions in research and product development. They spend a lot of money on marketing campaigns to make sure their brand is really known to the world. And they have huge teams in every business area. Most SMEs cannot afford this luxury.

It is therefore not surprising that one in five SMEs has to close again in their first year of business. And even worse: only around 30 percent of all small and medium-sized companies survive for more than ten years.

But that doesn't mean it's impossible for SMEs to attract and retain new customers in a highly competitive market. Smaller businesses have a number of advantages over industry giants that help them compete, survive and be profitable in the long term . Let's take a look at some strategies your SME can use to take advantage of these benefits.



Deliver an unmatched customer experience
A first-class customer experience is key to success for any business, regardless of size or industry. While established brands often invest thousands or millions of euros in customer acquisition, they are also often known for their slow or unhelpful customer support. In addition, their huge customer base simply doesn't allow them to build personal customer relationships .