5 strong concepts and ideas to gain success in any small business in spite of huge competition from biggies.
Many small business owners often need to compete against large corporate to gain enough customers and sales. Unfortunately, they can’t afford to offer lower prices, allocate more advertising fund and distribute products to wider geographical areas. And yet, some of these small-scale enterprises are able to perform very successfully. They apply a number of effective marketing strategies that can be used successfully to compete against more established, larger competitors. In fact, any smaller company can carve out a portion of market share and drive sales sustainably with these strategies.
#1. Take alternative positioning:
Small businesses need to shift their market position when they are up against huge corporate in the industry. They don’t have the resources to compete directly against market leaders head on. It’s a successful marketing strategy that has been employed by smaller companies and they are able to operate in markets that are far less competitive. As an example, if the market leaders assert more traditional positioning in the market; small businesses can present themselves as the choice for “new generation” that appeal to younger generation. This allows many new entrepreneurs to carve out adequate market share and they make sizable profits in the process. This rule should apply to everything from small diners to .com companies. Marketers that seek to promote small business should survey the landscape in the industry and find out how they can position their business as an excellent alternative to a group of niche market. Even the 500th position in a huge industry can ensure steady sales for small business.
#2. Sell what huge corporations don’t have:
Small businesses are able to find success by building unique reputation in the field. They also provide unique products that become the public face for the company. Marketers may effectively promote these unique products as excellent solutions in the market. Another good way to build reputation is through cultivating credibility that comes from media relation activities and other publicity methods.
#3. Work with local media:
Local media often need to look for story ideas and small business owners could provide a contribution to create the “win-win” situation. They can pitch story ideas about what is changing in the industry and what is new. The media loves to break interesting news about any emerging trend and inspiring example in the industry.
#4. Look for repeat business:
Once consumers has identified a small business as a reliable provider of unique products and services in the industry; they will come back for more. Marketers should assure customers that the company is always available for them and willing to provide help in any way possible.
#5. Delegate tasks to the right individuals:
Having the right people in charge to establishing strong relationship with the public will make it easier to transfer information.
The above strategies don’t always work well for bigger companies, so it is important for small business to leverage their available competitive advantages and take better personal approach to establishing their business through publicity. By establishing their business as a workable alternative to the current market leader in the industry, marketers can build stronger credibility in the market.