In the first of a five-part series of articles based on advice from UK government-funded advisory body Businesslink, we look at ways that small- to medium-sized enterprises (SMEs) can sustain a client roster when competing against big brands. Part one: preparation.

WINNING clients and keeping clients is an ongoing challenge for all companies, regardless of sector. But what if you are an SME operating in an area dominated by big brands? How can you maintain a healthy client roster in the face of such stiff competition?

Businesslink is developed in partnership with experts within the UK government and relevant business-support organizations to help companies improve performance. Businesslink advises that if SMEs are to go up against big brands they need to follow some basic strategies:

Know your clients
Talk to your current clients, to potential clients, and to former clients. Discover from them what the key factors are that will influence them to buy from you. What is it that underpins their loyalty and keeps them coming back? The small business has a sizable advantage over big brands here – in that they can make the most of their personal and immediate relationship with their clients.

Place a high value on sector knowledge
Knowledge is the best single point of advantage that you can ever have over your competitors, however big or small they may be. Knowledge of your industry, your market, your potential client base, and of individual clients. Research is invaluable, and it must be your starting point.

Time spent on research and preparation at an early stage will reap benefits later. Knowledge not only builds your confidence and helps you identify your best opportunities, but it will also highlight potential pitfalls at an early juncture. Research should also be ongoing as your business evolves, because up-to-date information is key.

Know your sector inside out
Whatever sector you operate in, ensure you know the business inside out. What are the industry standards? What are the legal requirements for operating in that sector? Are there levels of accreditation or other evidence of ability that will be required?

Seek out the experiences of competitors in your sector, both large and small. Research all upcoming changes in the industry, keeping an eye out for both opportunities to be taken and threats to be addressed.

Understand your market intimately
Don't be discouraged from undertaking market research by the colossal marketing budgets of the big brands and businesses. A carefully managed modest marketing spend can reap substantial rewards. What is the potential size of your market? What impact level might you expect to make, and over what period? Consider whether professional advice from experts in your field would be valuable.

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