Small businesses facing huge competitors have a far better chance of succeeding in the digital age when compared to the past. The exposure of a small business doesn’t demand large amounts of money invested in advertising or marketing. Before the internet, small companies could not compete with the money required to be seen as a legitimate business. Opting for a local business instead of a corporate juggernaut has also become far more accessible. The consumer, being as educated as ever before, has given smaller brands a chance to compete with household names.
The luxury of throwing money at problems is not something smaller businesses have, so a sound strategy is required. The following are tips to help start competing with far larger companies without breaking the budget.
Get Creative with Digital Marketing
Corporations are going to have sizable digital marketing budgets. A smaller company might need to be creative in their marketing approach. Wasting money on generic content should not be done as this will generate little to no organic traffic or backlinks. Take the time to use tools like that of Buzzsumo to see what types of content convert. Seeing pieces that have garnered the most attention/traffic/social media shares recently is more than helpful. Creating a topic from a variety of famous pieces of content can allow for a unique part of the material to be built in a data-driven way. Finding freelancers to help with marketing can avoid the hefty price tag many marketing agencies are associated with.
Staff Should Accept Podcast Invitations
Podcasting has become increasingly popular throughout nearly every industry. Generating an in-depth piece of content is far more comfortable in a podcast format when compared to written pieces of content. Transcribing these podcasts has become essential as it can be searched easily. Staff members invited to be guests on podcasts can increase the awareness of the small business. Not only will the company gain exposure from the podcast’s listeners, but it can also be reposted on the small business’ website. The invitation of big names in an industry to the company’s podcast is also wise. Some guests come with immense amounts of followers/listeners.
Stress a Personal Touch When Compared to Larger Competitors
Larger companies are not as flexible as smaller companies due to the different levels of approval. The personal touch that a small business can offer is often far better than larger competitors. An account manager might have a few accounts at a smaller company, while at a vital corporation, there could be hundreds of accounts. Clients can see when an email is automated or generic rather than taking the time to write out a custom piece of communication. Custom envelopes to accompany gifts that are sent over for holidays or the point of contact’s birthday can work wonders. Finding envelopes like these is quite easy, as buying those from EnvelopeSuperstore.com can be done in a matter of minutes.
Importance of Regular Face to Face Meetings
Building rapport with clients as well as hitting deadlines can help retain clients even if charging more than a significant competitor. Meeting with clients face to face makes it far easier to build a relationship. The ability to take clients out to nice dinners a few times a year will make it far more difficult for them to opt to work with another company. Large competitors might not be willing to send a founder to close a sale, while the small business will be more than accommodating. The ability to hash out contract terms without having to get approval can also speed up the sales/resigning process. You should make a point of meeting with clients when they are in town and travel to visit them. It’s far less stressful if you have a client send a text to your cell phone than waiting for an answer over the weekend.
Invest Money Into Industry Events/Conferences/Local Networking
Closing a sale at an industry event like a conference is quite common. Signing a long-term deal is something that many businesses want to do physically rather than cover details on the phone. Attending industry events gives a small business the chance to meet with a variety of potential clients. Creating an agenda of essential companies/people to pitch is crucial as it is easy to book numerous meaningless meetings. Local networking can be beneficial, as well as small business owners frequently want to work with other small businesses. Local networking is also vital as getting a referral can lead to a quick signing of a contract. Being able to meet face to face in a matter of hours has enormous advantages.
Facing huge competitors as a small business requires creativity, as well as a reliance on data to improve steadily. Optimizing processes over time can allow for smooth scaling of projects regardless of how large of a project needs to be completed.