What makes some SMEs more successful than others?

Tim Witcherley

by Tim Witcherley
on Nov 12, 2015

What makes some SMEs more successful than others?

Tim Witcherley

by Tim Witcherley on Nov 12, 2015

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What makes some SMEs more successful than others?

Have you ever stopped to consider what makes market leaders more successful than their competitors?

Yes, of course it’s because they’re more successful overall, but what are the fundamental factors that enable them to outperform market trends and their competition? 

Ever since Tom Peters published the groundbreaking title, In Search of Excellence, thousands of books have been written in an attempt to distil the essence of what makes some companies exceptional and others languish in mediocrity.

There are four main traits of marketing-leading organisations. They are:

1. Digital maturity

Digitally mature companies (known as digirati) outperform their industry competitors. They generate on average 9% more revenue and 26% more net profit.

 2. Flexibility

Digital maturity presupposes commercial flexibility and the ability to adapt to a rapidly evolving trading environment. The founder of the fact of evolution, Charles Darwin, wrote, ‘it is not the strongest of the species that survives nor the most intelligent.’

 3. Strategic thinking

Non-corporate businesses are leaner and more agile than large corporations. This makes them inherently more flexible and able to adapt to change faster. However, this structural flexibility is undermined by the reluctance on the part of many small and medium-sized businesses to deploy strategic marketing plans.

 4. Partnering

Non-corporate businesses require string strategic partnerships to distribute the workload if they are to achieve growth. For the last 17 years, we’ve helped more businesses in the non-corporate sector achieve digital maturity, become more flexible and deploy strategic marketing plans, despite a scarcity of time and money.

 

Tim Witcherley

by Tim Witcherley
Nov 12, 2015

As the Managing Director of Cognition, Tim's drive is to ensure every Cognition client gets tangible, commercial outcomes. In increasingly complex marketing and sales environments, his relentless focus on delivering value, quickly and simply, is one of the main reasons why Cognition is now one of the UK's leading digital agencies.

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