Small businesses are the backbone of this country, but sometimes it’s hard to compete against the larger companies in your market. They just seem to have so many more resources that it may seem impossible to get on the same playing field as them.
The good news is that there are plenty of ways that small businesses can make their mark when competing with the big boys. Having a successful company isn’t just about the amount of revenue you bring in, or how much cash reserve you have: it’s about how you use it all. As a small business, you have to make every dollar and every decision count, but it might not be as hard as you think. Here are some ways to compete against larger companies:
Have Great Marketing
A great marketing strategy is a key component to any successful business, but it may be doubly important to the smaller ones that are fighting for a share of customers. Before, companies would hire consulting firms to help develop a marketing plan, sometimes at great expense. Today, you don’t need to spend any more of your much-needed money than is necessary.
There are a lot of companies out there that can help your small business have a voice at a decent price. Sites like MySalesButler.com can offer marketing packages that suit any company’s needs. Internet marketing companies are designed to give you a large amount of exposure for prices that fit your budget, so you can grab more customers more quickly.
And don’t forget about your own personal marketing, either. Your business should have a professional webpage that gives a quick rundown of your serves as well as providing original content for your visitors to read. Getting your customers engaged on your website is a great supplement to any marketing strategy.
Beat them at Customer Service
Nobody likes calling a large company for help only to have to talk to a computer. Sure, it’s a modern and perhaps more efficient way to handle customer service, but it doesn’t feel genuine. As a small business, you have a chance to use this to your advantage.
Customer service offers your company a chance to showcase its personality in ways that big companies don’t. You can tailor-fit your customer response team to the wants and needs of your customers. Choose people who represent your company’s philosophies and attitudes — bubbly, rugged, kid-friendly — and your customers will thank you and respond. They will not dread calling your customer service team like they do with the big companies.
This is also a great way to gain recurring customers, as they know any problems they have will be taken care of in the future.
Look Toward the Future
The bigger companies often spend time fixing the mistakes of their past, when they made decisions as a smaller company that would save them a few bucks here and there. Rather than plan for the future, they tried to squeeze profit out by skimping on one thing or another.
As a small business, you have a chance to avoid this problem. Nothing can frustrate you more than dealing with problems that were created three years ago: they stifle you from moving forward until they are dealt with. Now, make it a point to project every decision out a few years, to see if you can figure out if there will be any adverse effects from it. This will help you cut down on future problems and will put you in great position when, hopefully, your company grows.
Find Your Niche
When you are starting out, you just don’t have the resources to go toe-to-toe with the big companies, but that doesn’t mean you can’t fight for your share of the market. Rather than doing what the big boys do, look for a niche that will make you stand out in the customer’s eyes.
Larger companies devote a little bit of time to a lot of different products or services. As a small business, you can choose one or two things to do really well and focus all of your attention on those things. You don’t have to get to everything at once when you start out. Go slow and be as close to perfect as you can with your core products or services. This will help you find your niche that many of your customers will love.
Remember: David beat Goliath, so there’s no reason you can compete against larger companies!