How small businesses are learning to compete on the corporate scale
Photo by Helena Lopes from Pexels
The corporate world can be a scary place for a small business like yours. Big business can turn the same profit you make in a week in just one hour, and there’s a lot of corporate muscle that can turn you away from making a name for yourself.
As a result, building a successful business from the ground up is rarely an easy process. Any new business that hits the market has a long way to go, and a lot of fight to put up, before they reach a level where their business ambition is able to level out. Which is why it’s key to continually develop new ways to level this playing field.
Small businesses come into existence every single day, and being able to market to the same series of customers requires an in-depth method or two. Here’s a small snapshot of how modern businesses are taking on this fight.
The accessibility of social media
Social media is one of the most accessible places on the internet. It’s expected that by 2025, nearly 4.5 billion people are going to use a social platform of some kind on a regular basis – that’s a lot of potential customers to reach out to. And it’s not just the corporate world who can see this group of people; a small business can get a slice of the action very easily by simply being present amongst social media users.
So if you’re not on social media, or you very rarely use it, it’s time to update your business page. The more you post to Twitter, Instagram, or Facebook, the higher your chance of building a receptive and loyal following. It’s also where you can garner some great reviews from people who have shopped with you before, meaning these reviews are far more accessible in turn as well. A cycle like this can work out well in a small company’s favor.
The power of a proper marketing campaign
Marketing campaigns are the bread and butter of establishing your own brand. However, many can be put together on the side with very little thought put into the long term goal a business is reaching for. There have been many well documented market research mistakes in the past, and it’s key to learn from them.
Your own business needs to have stats and figures on its side. However, doing this kind of research can be expensive and time consuming and few small businesses or enterprises can afford to take on the work. But there are still reliable methods to look into here. For example, working with a Digital marketing agency can be a great way to bridge the gap between your own funding and the need to research your customer base.
The benefits of good customer service
A good customer service experience goes a very long way to drawing customers over to your side. When they shop with a small business like yours, they get something they can’t find with the bigger, more general brands/stores. They get personalization, they get focus, and they see that you clearly have time for them! Many corporations cannot compete with this based on their size alone, and it’s something a company like yours can perfect in the meantime.
As such, it’s key to develop your customer service desk, and ensure it’s manned by staff who know how to handle the customer relations side of the job. Around 31% of retail employees aren’t trained, and that can tank your customer service ability before you’ve even gotten it off of the ground.
The chance to truly focus on your customers
Let’s expand on the above point a little more. Being able to truly focus on customers as individuals is a great way to entice word of mouth marketing from them. They’ll talk about your small business to everyone they know who needs to shop for the same product/service, and you’ll be so memorable they’ll immediately list your name off.
This works well for you, as you won’t need to fork out for this marketing; it’s organic, and a reward for your hard work. In comparison, any bigger business who works on a corporate scale won’t be able to match this kind of clout. Smaller companies have time and energy on their side, which is harder to track on the global scale.
If you’re a small business owner worried about your chances of turning a profit, keep the benefits of the modern working world in mind.