How to Stand Out Among Big Competitors as a Small Business
Major competition is the norm for most businesses; between big-box retailers and mega brands like Amazon, it can be challenging for small businesses to gain a competitive edge. Many modern audiences are opting for smaller brands, and they prefer those that prioritize ethics over profits. You can use this to your advantage. If you’re struggling to stay afloat near the big-name competition, you may not be using your status as a small and local business to its full potential.
Get to Know Your Competition
To stay ahead of the competition, you need to get to know them first. Conduct market research to understand what your competitors offer. Learn what sets you apart from them or how you can offer a better customer experience. Learn about the brand, its online presence, services, and team. Once you research what works—and what doesn’t—with your competition, you can strive to create or foster a brand that resonates with similar audiences.
Advertise Your Competitive Edge
Once you’ve done your research on the market and your competition, you can know what audiences are looking for and how you can deliver it in unique ways. Examine what sets you apart from the competition and incorporate it into your branding and marketing efforts. Let prospective customers and website visitors know what makes you stand out and why they should choose you among the rest. Perhaps you value sustainable and ethical supply chains. Maybe you excel at personalized customer interactions. You could deliver a product that fills a specific niche in the market. Whatever sets you apart, broadcast it far and wide. When audiences know why they should choose you, it’s more likely that they will.
Create an Engaging App
Apps are useful tools for businesses with a large portion of customers who use mobile devices. An app can represent authority and trustworthiness in your industry. Even if you’re a newer brand, establishing an app implies success. Many customers download apps for seamless journeys, improved communication, and exclusive rewards. You don’t need to be a major brand to develop an app for your products or services. Consult with app development companies within your budget. Create an app that runs smoothly and is accessible for your target audience. Include personalization features such as a simple API for weather, custom product recommendations, and app color preferences. Consider offering exclusive rewards or coupons to mobile app users to encourage downloads and app usage.
Learn About Your Community
Your connection to the community can help you establish a strong foundation as a local business. If you have local customers or want to attract more, an excellent strategy that can set you apart from major competitors is to convey an authentic, down-to-earth feel. Many modern clients prefer a local business over a big-box retailer whenever possible. You can advertise your business locally by getting to know the community; consider joining or sponsoring local events, attending community gatherings, and partnering with other local businesses. When you put yourself out there, you’re a more memorable brand that local audiences will want to support.
Prioritize Customer Relationships
Major companies focus on the farthest reach instead of the best customer relationships. You can create a huge competitive edge by focusing and prioritizing the customer over profits. Provide personalized customer experiences throughout, from start to finish. Write handwritten invoices or thank-you notes. Ask for and implement the feedback you receive. Focus on honesty and transparency about your business and its processes. Treat customers like friends you value; remember their names. Many audiences remember a personal and thoughtful touch, especially when brands prioritize helping others over profits.
Increase Your Online Presence
Big companies have an online presence, and you’ll want one too. Allow online buyers and product researchers to find as much information about your business as possible. Update and maintain your social media and search engine profiles to help customers get to know you. Stay active and engaging on your social media, including behind-the-scenes updates and exclusive sales. Create a website that showcases your competitive edge and your history. When you’re more active and accessible online, you can attract a wider range of online and local audiences who want to get to know your brand before making a choice. If all your audience finds online are big brands, you’ll lose them to those competitors.
Foster Meaningful Collaboration
As previously mentioned, partnering with local businesses is an excellent way to get your name on the community radar. You’ll also help other small businesses gain a competitive edge over major corporations when you collaborate and sponsor each other. Audiences will want to know that you support more than just your local business. If you can use local suppliers for your own business, you won’t just attract more customers, but you’ll also be on your way to creating a sustainable and successful brand.
Conclusion
Big company competitors have access to numerous resources that you may not have. They’ll have millions (or billions) in profits, widespread brand recognition, and unlimited access to talented employees. You don’t need billions of dollars to establish a loyal customer base. You simply need to grow organically by highlighting your competitive edge, partnering with other local businesses, and prioritizing personal customer relationships. The more you care about clients, the more they’re likely to care about you. With the right strategy, your smaller business size can actually be an asset.