At first glance, small businesses can feel overshadowed and dwarfed in competitive markets dominated by big-name players with massive resources. But with strategic positioning and playing to their strengths, local small businesses can absolutely thrive and successfully compete for customers up against large corporations. Here’s how.
Hire a Business Consultant
Partnering with an experienced small business consultant provides invaluable guidance on structuring operations to effectively compete as the “little guy.” Consultants analyze the business’ unique attributes and capitalize on target opportunities suited for winning against entrenched national chains. For example, consultants may advise focusing on hyper-customized offerings, personalized service, and flexibility, which are areas where big brands typically fall short. They can also help small businesses adopt new technologies and innovations quicker than slow-moving giants. Consultants fine-tune local marketing around deep community roots and involvement versus impersonal national chains. An objective outside perspective is key when positioning against dominant competitors.
Key Tips From Business Consultants
Here are proven tips and strategies that enable small companies to compete successfully with large corporations.
- Make excellent customer service and personalization hallmarks of your brand. Train employees to provide attentive, friendly interactions and get to know repeat clients. Big brands can’t offer the same rapport.
- Stay active on social media by sharing valuable content and insights. Respond quickly to customer questions and feedback. Corporations often drop the ball on social connections.
- Focus on quality craftsmanship, high-end materials, and premium experiences. Back it up with guarantees and personal service. Large competitors cut corners to boost profits.
- Be nimble and fast at adopting new technologies, ideas, and trends ahead of slow-to-change big companies. Cater to shifting consumer preferences first.
- Support local community causes, schools, charities, and groups. Tie your brand firmly to uplifting the area versus national chains without local roots.
- Run creative, tailored promotions, sales, and rewards based on the buying habits of your clientele. Generic corporate offers can’t compete.
- Forge partnerships with respected local businesses to cross-promote complementary offerings. Work together for higher impact.
According to Better Accounting, small businesses produce as many as 16 times more new patents per employee when compared to large patenting firms. This statistic illustrates that being bigger isn’t always beneficial to a business. If your company is looking to compete with larger corporations, a business consultant can assist. Call Activate Detroit now; let’s develop a plan to help your business grow and thrive.