The mid-market business sector is entering a pivotal phase in 2025. As leaders face evolving challenges and opportunities, adopting the right strategies will be essential to stay competitive and achieve sustainable growth.
In this blog, we explore five proven strategies mid-market businesses can implement to thrive, based on insights from industry leaders and the MYOB Mid-Market Report.
1. Expand Market Share by Understanding Customer Needs
Winning a larger share of the market requires a deep understanding of your customers. Successful mid-market businesses are leveraging data analytics and customer relationship management (CRM) tools to refine their marketing, tailor products, and enhance the customer journey.
Actionable Tip:
- Use ERP systems integrated with CRM to gather actionable insights into customer preferences and purchasing behaviour.
2. Go International: Capitalise on Global Opportunities
With 28% of mid-market businesses planning international expansion, the global market is a key growth area. Exporting products or establishing an overseas presence can help businesses diversify revenue streams and reduce dependency on local markets.
Actionable Tip:
- Prioritise markets with high demand for your products and services, and ensure compliance with local regulations.
- Implement scalable ERP solutions to handle cross-border operations efficiently.
3. Adopt Technology to Streamline Operations
Technology continues to be a game-changer for mid-market businesses. From automating workflows to enhancing supply chain efficiency, tools like ERP and AI are enabling businesses to scale faster and cut costs.
Key Insight:
More than 68% of mid-market businesses reported a positive ROI within 12 months of upgrading their technology.
Actionable Tip:
- Identify areas where automation can reduce manual effort and increase accuracy, such as inventory management or finance operations.
4. Foster Innovation to Stay Competitive
Innovation is at the heart of growth for 31% of mid-market businesses, with priorities including new product development and improving customer relationships. Being agile and proactive in addressing industry shifts ensures long-term success.
Actionable Tip:
- Encourage a culture of innovation by involving employees in brainstorming sessions and investing in R&D.
- Use ERP software to manage and monitor the lifecycle of product development projects.
5. Build Resilience Against Business Risks
Mid-market businesses are facing risks like high inflation, resource shortages, and cyber-attacks. Leaders are mitigating these challenges by adopting robust risk management strategies and enhancing digital security.
Actionable Tip:
- Regularly review your risk management plans and update them based on current market conditions.
- Protect your business with advanced cybersecurity solutions integrated into your IT infrastructure.
How to Implement These Strategies
Growth isn’t just about knowing the strategies; it’s about executing them effectively. By adopting ERP solutions, leveraging technology, and exploring international markets, your business can thrive in 2025.
About MYOB Acumatica
With a string of accolades—including being a finalist in the global SaaS Awards (2022, 2023, 2024) and winner of the ABA100 for ERP Innovation—MYOB Acumatica is a proven leader in helping mid-market businesses achieve their growth ambitions.
Discover More in the MYOB Mid-Market Report
Want to dive deeper into these strategies and see how industry leaders are driving success?
The MYOB Mid-Market Report – November 2024 offers exclusive data and insights to help mid-market businesses plan for the future.
