Not one, not two, but three articles this week all on the same topic. Our topic of the moment is SME's and the internet.
Why should SME's be interested in the internet? Well if IMRG research group are to be believed then online retailing is expected to double in the next 5 years and it's not just the large companies that can get a slice of the action. SME's generate approximately 52% of the total UK business turnover, but large companies still dominate the online retail market.
SME's have much to gain by entering this market. For example, specialist or niche suppliers using the internet can launch a worldwide marketing campaign for relatively little cost.
If you are serious about your SME getting a strong online presence then you'll need a great website and that website must be found easily on the internet. To do this requires the black magic of search engine optimisation. You'll know when the magic has worked as your site will appear on the first page of a Google search. The good news is that there are some great small companies out there that can help set up and search engine optimise your website.
One thing is for sure, whatever you decide to do, the internet is not going away. Why not see what it can really do for your business today before your competitor does?
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I can think of another reason. If you have a business or service that can operate internationally then your blog presence can help significantly. For instance, the US has always been a moneypit for UK entrepreneurs. Recently, I've had input to a US VC interested in supporting a company I'm involved with. Saved $$millions in costs because trust has been built between me and the VC through blog conversations. In another case, a new blogger got in touch with me and having read my site, he got in touch with another reader with a view ot creating a commercial relationship. How good is that? This has massive potential impact for business of all stripes. And I'm thinking CAs as well. The world is flat and the sooner we realise that, the better the opportunities.
Posted by: Dennis Howlett | 27 April 2006 at 19:47
It's a very good point, the internet is changing the way people interact and network. According to MacKinsey 12 percent of US newlyweds last year met online!
Posted by: Philip Woodgate | 27 April 2006 at 20:04
This is so true. As a marketing consultant/project manager with SME's in Melbourne Australia I am still surprised how little most business people know of the marketing power of the web. The two main point raised in discussion are:
1. "My prospects wouldn't look for my service/product on the internet"
2. "My services/products are not suited to the internet"
What does that mean? Firstly, many don't have a proper marketing strategy. They have not thought in any structured way about what they could/should do to create awareness, establish a dialogue with prospects and move them down the path to a customer.
Secondly, it means that these are simply the only two applications of a website they know of. But when the marketing strategy is there, the appplications become much more obvious and attractive.
Posted by: David Koopmans | 06 May 2006 at 04:26
Hi David. I believe we are only at the beginning of a technological revolution and SME's can really benefit from this. For example, you've now heard of http://www.eieflud.co.uk/blog/ and you may just bring them some business. That wasn't possible a couple of years ago.
P.S. I've been looking for a business marketing based blog like yours for sometime. It's great to have found it at last.
Posted by: Philip Woodgate | 06 May 2006 at 19:48