5 Ways to Compete Against Dominant Brands
Posted by Amanda DiSilvestro on September 26, 2011 in Business Start Up Advice [ 2 Comments ]
You may think you have a small business up and running, but it only takes one look at a dominant brand to make this run feel like a slow crawl. In this economy, marketing successfully is imperative in order to find success. I have found that there are tons of articles circling the web about how to build your brand using social media and the latest trends, but does this really help a small business compete against a large one? After all, dominant brands also have the latest marketing tools and social media platforms at their disposal.
Fortunately, the world of branding and advertising is changing. While the past led consumers to go with a brand they recognized, the tough economic times are now forcing consumers to shop around for better alternatives. This opens up a lot of opportunity for small businesses—opportunity that dominant brands may not have. With that said, consider a few small business advantages that are sure to bring you back to a run:
5 Advantages and How to Use Them
- You have the ability to respond to customers immediately.
Larger companies are known to have a hard time replying to customer concerns in a timely matter. However, when you are managing only a small group of people, you can personally make sure that your response time to customers is quick. This not only works for email or phone complaints, but it works just as well for social media network comments or inquiries on your website. Make this a priority.
- You have reason to target small groups of people.
The first thing you learned about marketing was the importance of knowing your target audience, so this suggestion may seem obvious. However, this is much harder to do when you are running a large operation—making this key when it comes to competition. Once a brand is well known, that brand works to try and market to more and more audiences. As a small business, you should not try and do the same. The best thing you can do is find a group of people you know will benefit from your product or service, and go after them. To a large company, using resources for a small group of people may not be worth it. If this happens, you’re suddenly on top with an entire group of people.
- You have the flexibility to make a change immediately if necessary.
When a change needs to be made, a larger company usually has to go through a long chain of commands. If there is ever a problem with an employee or the efficiency of your business, you can change it quickly. This will not only help your business improve, but should be impressive to customers or potential company partnerships.
- You will be respected locally.
As discussed earlier, the economy is causing people to look elsewhere for their needs. Utilizing local search engines, such as Local.com and Ask City, should help you get your name out there to those in your area. Consider sponsoring a local sports team or putting an ad in a local newspaper. People generally enjoy supporting their community business, which is an advantage dominant brands don’t have.
- You have all of these advantages over a dominant brand, so let your customers know!
If a customer is teetering on the edge of taking a risk with your company or going with a well-known brand, these advantages should push them over to your side. However, all of these great things you have to offer are often not publicized. If you want to convince someone to go with your company, here is your ammo.
Overall, small businesses do have potential to succeed. Less well-known brands offer a different, more personalized experience for the customer. In today’s economy, people will be shopping around for different options. Even if you do not have the ability to price match like many of the larger corporations, you suddenly will have the eyes and the ears of those you’re targeting. If you can be sure you offer great customer service and delivery of your promises, you just might find yourself running past your competition.
Photo Credit puppy-training-at-home.com