Simple Ways Small Businesses Can Compete With Big Businesses
Not everyone can be a big fish in a big pond—but that doesn’t mean your little fish business can’t make a serious impact. Implement a few of these ways small businesses can compete with big businesses for an extra boost in your business’s growth.
- Specify your audience/niche
It’s no surprise that large businesses attract a wide consumer base, and that’s a lot to contend with as a small business. Pinpoint a small target audience to ensure you’re not competing in a colossal market. Tap into the underserved markets, and do the serving. It takes some precision and forethought to do this effectively because there’s always the possibility of oversimplifying your base—i.e., making it too small and specific. But the payoff is worth it. Do your research and craft a targeted customer profile. You could even create a focus group or two to receive feedback on your approach.
- Get smart with your marketing
You don’t want your brilliant product to fall on deaf ears. A strategic marketing campaign relies on a compelling and unique storyline, so craft an enticing yet honest story. Flaunt your strengths as a business, but sharpen your focus to be in line with your audience’s motivations. Are you targeting young parents? Single people making critical career moves? What can you say that will make them feel that you’ll serve their interests best? Set up a social media account for your business, and start creating valuable online content. Generate new business with smart digital marketing and industry-leading PPC strategies.
- Focus on the customer relationship
After you’ve built your clientele, focus on retaining customer loyalty and satisfaction. Many small businesses often underestimate the power of an easy-to-navigate website and quick and attentive customer service representatives. Get into the habit of making the little things a priority, and you’ll see how passionately your consumers respond. Connect with your audience by being responsive to complaints and open to communicating with exasperated folks via social media. You can monitor your progress and effectiveness by handing out customer service questionnaires. You can also encourage people to leave reviews on your website or any other public forum.
