Upsides of Social Media MarketingNew Web Hosting Pioneer Emerges, Offering Affordable Hosting Solutions Coupled with…Market access is key for any growing business in a competitive business landscape. However, for small businesses, expanding market access and growing their customer base can be difficult, especially when there are large clients to be serviced.
“In our experience as a business growth agency, the most common reason is that many businesses are simply not yet market ready. While there is often a desire to onboard a big client, in reality, the business may not be in a position to service that client.
Expanding a business’s customer base to service larger clients can come with its own challenges, she points out. “For example, does the business have sufficient resources to service larger clients? Small businesses need guidance to understand what clients are looking for from new suppliers. Critically, corporates and multinationals require a pipeline of reliable suppliers. An unreliable supplier is unlikely to receive repeat business.
The challenge, she adds, is that there is often a mismatch between what corporates expect from their small business suppliers and what small businesses understand as their responsibility to provide. “Corporates and large retailers often miss the fact that they really need to explain and communicate to new small business suppliers in very clear terms what their expectations are.”