Are you frustrated that your small business’s marketing strategy is struggling to compete with your largest competitors? How can you even the playing field when they have more resources, more man-hours, and more money to inject into campaigns? Well, David beat Goliath, #15 seeds upset #2 seeds in the NCAA Tournament, and underdog stories always make for the best movies. The road to thriving in a market dominated by corporate competition will require your passion and dedication. But it can be done. Here’s how:
Develop a Strong Brand Identity—This is paramount to your success. Ask yourself, “How are the selling points and benefits of your product or service reflected in your marketing voice?” Are you a healthcare company that brands themselves more like a warm, comforting caregiver or a cutting edge, medical professional? To ensure success, be clear on who you are and what your objectives are (other than making a profit, of course), and the consumers searching for a company like yours respond to it.
Focus on Niche Audiences—Blanket marketing campaigns targeted at hundreds of thousands of people are costly and tend to have low audience retention. There is a less expensive way of being effective and creating an audience for your brand. Appeal to niche audiences, small groups of consumers with specific interests and consumers goals that match your product. Give these potential customers more individualized attention and their engagement retention will increase. No one likes feeling like a face in the crowd.
Take Care in Creating Great Content—Modern consumers are attacked by countless ads throughout their day. Your content needs to stand out to them. Find out what your customers are already engaging with and what they see value in. Is it automotive care tips, product demonstration videos, blogs on marketing strategy? Whatever it is, leverage your customers’ specific “wants.”
Customer Service—As a “small” company, exemplary customer service is a MUST. This doesn’t just mean responding quickly to negative reviews online. This means catering to them from the beginning of the customer journey until the end, whether it’s in person, over the phone, or in a comments section online. Also, keeping your existing customers happy and coming back for more is much more cost effective than trying to court new leads.
When it comes down to it, for your marketing strategy to compete with the big guys you must spend more time engaging with your customers. Brands who invest more time and effort to connect with their customers receive 46% higher “share of wallet” than their competitors.