In this day and age, almost nothing can stop a business from competing with the biggest players in the market. This is especially true when it comes to creating new, innovative products; marketing and spreading their mission out into the world.
Small and innovative companies have the opportunity to market their products and services in much the same way that big established player can. Being a small, agile company can be a competitive advantage in the landscape of innovative industries like the Internet of Things.
We set up four essential ways for an SME to successfully grasp the opportunity to compete with the big ones.
I. Niche down
Having an expert, niche market segment can be crucial to the success of an SME. Out of this, a company can focus on their primary consumers. By targeting a specific market, companies can build a precise profile and fulfil their customer’s needs.
From the very beginning, we at iSensing have explicitly focused on delivering real-time movement data to smart cities and became experts in our field. Due to the multi-year research of our in-house design lab, we designed a solution that was edged to provide the highest level of movement data accuracy and complemented it with bespoke service to get meaningful data for each unique use-case. We look left, and we look right but are focussing our strengths and building out the niche in which we’ve become experts.
II. Indulge the internal culture of mission driven-company
In the past, bigger companies had many advantages, mainly because they could afford it. Today, even the smallest company has the potential to deliver its mission on a global scale. Whatever product or service you sell, the opportunity for you to compete with the big players in the market is there. The key is to keep it simple while outlining what it is your organisation wants to do.
We have confidence in the power of our vision, which builds lasting relationships. All the people that work on iSensing believe in this story and spread our mission into the world. We see this commitment in the daily work we carry out with our clients. To get to know interested parties, our team is very engaged to meet with potential customers and partners. Everyone in our company understands and shares our story, and we maintain strong relationships with our clients and partners to develop the best solutions in a cooperative environment.
III. Create the best product
SMEs have a big chance to succeed when they adopt a collaborative approach with the aim of creating the best product they possibly can. By understanding customer needs and reframing the problems especially small players have the chance to develop the best possible outcomes and compete in a competitive environment.
From the first scribble of an idea, through to the product launch, we at iSensing have involved our clients and users in building our solution. Collaborative Design helps to develop outcomes with lasting impact, improve public presence and awareness and obtain expert status in our field of movement data visualisation.
IV. Offer the best customer service
Being a small business gives us the ability to interact with customers directly and keep up innovation momentum. Golden customer service and relations should be a high priority for any SME looking to beat competitors and win new customers.
We offer a personal service and hold our customer’s hand at every point in the process. We don’t just provide equipment or a product; we offer a working relationship. Our ability to have a long-term and meaningful relationships with our customers and partners is our highest aim and value. Our work is always about using collaboration to make a difference. We do more by sharing ideas and working with our open and innovation team and network.
iSensing offers a full-featured mobility analytics solution, edged to provide the highest level of data accuracy and complemented with bespoke service to get meaningful movement data.