GO360 - PR4SMEs | When it comes to strategic communication management, size doesn't matter.
What are the new challenges for SMEs?
The last few years have been marked by significant job creation, increased investment, a balanced general government budget, in parallel with a major investment effort in public service capacity and professionals, and a positive external balance.
This development is taking place alongside a major effort to reduce the indebtedness of the state, companies and families and against a backdrop of international uncertainty that has limited the growth of Portugal's main trading partners, confirming solid foundations for future economic growth.
The global economic outlook points to the results of the impact of the pandemic, the war in Ukraine and economic instability, and the long-term damage this context has caused to growth prospects: the deepest global recession in decades, lower investments, an erosion of human capital and the fragmentation of global trade and supply links.
A competitive context
This panorama has highlighted the fact that the world we live in today can be described under the acronym - VUCA(H), considering the traits that best characterize it, namely: the volatility, a uncertainty, a complexity, a ambiguity and hyperconnectivity.
Companies were surprised by a scenario that few, if any, had considered in their strategic planning. This event forced nations, markets, organizations, families and individuals to unexpectedly and suddenly slow down and rethink their purpose.
The impact on strategy definition
Small businesses need to adapt to a constantly changing market. To meet your customers' needs and stay one step ahead of the competition, it's essential to monitor the trends affecting your business.
Many SMEs are looking at ways to protect their operations against the next period of turbulence. This involves diverse possible courses of action, from ensuring the integration of online work, to recruiting and retaining employees, or investing in digital solutions and automation and personalizing the offer. But it also involves investing in a Communication that responds effectively to the challenges of visibility, positioning and reputation.
The importance of the Brand
The public today is looking for experiences and not just services or products that fulfill their function. O branding helps define the “promise and delivery of an experience”.
A strong brand is a valuable brand. It builds loyalty and the desire for recommendations. A loyal audience means we are better able to achieve our mission.
Stay abreast of this topic in our E-book “Communication for SMEs”.
If you would like to find out more about our range of communication services for SMEs, please consult our GO360 - PR4SMEs.