Running a small company is exciting, as you are turning your passion into a successful business. Yet, one of the biggest challenges you may face is having to compete with large, more established brands in your industry. However, do not be disheartened. There are many ways you can secure your place in the industry and compete with big brands. Here are some from our experience.
Personal Service
One thing many big brands don’t provide their customers is a personal service. This presents your business with a gap in the market, as you can create close relationships with clients to secure your success. You can do so with dedicated phone systems, making time for every client and saying goodbye to impersonal, automated machines.
Compete with Large Businesses Online
The internet has made it easier than ever before to compete with large businesses. All it takes is an effective social media, PR or SEO strategy to improve your online presence and take custom away from your competitors. A professional digital marketing agency, such as Click Intelligence, can boost your online exposure by catapulting your brand up the search engines, promoting your business and, as a result, improving your conversion rate.
Small Business Networking
Your company can become a force to be reckoned with when networking with other businesses. There are many companies just likes yours wanting to compete with large brands, so will be happy to team up with similar companies to create a large-scale service or project. For instance, a gardening company might be more than happy to combine their services with a home improvement business, while a fashion boutique may feature a small baby clothing brand within their online collections.
Focus on a Niche
Don’t try to provide an all-inclusive service that is sub-standard to a commercial company. Aim to focus on a niche early on so you can provide high-quality products or services that complement your expertise. Avoid spreading yourself too thin, as quality will always surpass quantity in business and will help to maintain your competitive edge.
Stay One Step Ahead of Trends
Many large businesses are unable to quickly adapt or implement new changes, as everything needs to be thoroughly discussed and tactically marketed. The one big advantage your business will have is your agility, as it’s easier for small companies to respond to necessary changes.
Aim to stay one step ahead of trends to spot and fill a gap in the market, so you can provide a new product or service that will encourage more customers. A large firm will then be forced to catch-up, but will be tied to rolling out major marketing campaigns and internal changes.
Conclusion
While it might seem impossible to compete with big brands, it isn’t. Your goal must be to fill a gap in the market that they cannot, while playing to your strengths and remaining agile. Focus on the customer experience and an industry niche, and you may tempt loyal customers away from loyal brands to your small business.
