Recent news has been calling out big tech such as Facebook for it’s ethical choices in the face of a whistleblower who ousted the company for repeatedly choosing profit over people and buying out the “little guys” who try to compete with the conglomerate. While Facebook’s ethics have been a topic of controversy for some time, we can’t help but wonder how their size affects small businesses and what we can do to stand out.
How can small businesses compete with the big brands when they have large advertising budgets, brand recognition, and large teams? While this may seem like an uphill battle, learning some ways to stand out and niche down will put you in a position to capture some of the market even if it is a small slice of the pie. You can always expand the size of the pie later.
So how are you going to hold your own against a big brand name? Listen up! We have 7 effective ways.
Crush customer service.
A lot of customers crave a deeper, stronger, personal connection that smaller brands can offer. Emphasize your size when it comes to customer service. Talking to a customer service bot at a large company makes most people cringe. Create not just good customer service, but legendary customer service.
Build a reputation.
Amazon isn’t out there sponsoring little league but you are! Build a good reputation around your community and truly connect with people. This could be showing up at local markets, sponsoring local events, volunteering around the community, and making strong connections with your current customers.
Reviews are gold.
Gather reviews from clients and start building them up on various platforms such as Google, Facebook, Yelp, or whichever review site fits your business best. Not only will this boost your SEO (search engine optimization) but it will give you valuable feedback to implement. Since you are small, you will also be able to implement this feedback faster. It really helps to ask people to help with leaving a review.
Niche down, level up.
By being smaller than the big brands, you can focus on a narrower audience demographic. You may find you don’t want to please every demographic and you can reach specific markets more efficiently. Take a look at feedback, customer trends, and your ideal customer to find your target audience.
Run a customer loyalty program.
Reward your customers for repeat business by offering incentives for them to come back. Applications such as Shopkick Local, Punchcard, and LevelUp make it really easy to swipe a customer’s credit card and keep track of rewards. There’s nothing better for a consumer than walking into their local coffee shop and getting a free drink every once in a while.
Don’t compare yourself.
Nothing will break your spirit like putting your small business next to a big one. While you can always study and learn from the big guys, you are your own brand. Keep your marketing efforts focused on your specific brand, not your large competitor. Consumers will do their own research and as long as you have done your best to stand out they will ultimately make the final decision.
Stand out, don’t fit in.
Finally, accepting that consumers, even local ones, will not always choose you is part of the process. By leveraging your unique, friendly, small business vibes, nailing down your niche market, and always learning and implementing improvements, you will be able to capture a portion of the market.
At Singletrack Accounting we know small business. Our team of experts have been helping small businesses thrive for many years. We are here for our customers and we ourselves have learned to stand out from the crowd in a sea full of big fish. We offer full accounting services and coaching. Reach out for a free consultation.