There are many tough parts of running a business, and being able to compete with large companies in a tight economy is at the top of your concerns as a small business owner. Fortunately, there are many ways to prosper when the competition is fierce. From good marketing campaigns to excellent customer service, these strategies help companies to not only survive but to thrive amongst their big corporate competitors.
It can undoubtedly be difficult for your small business to compete against a giant corporation. However, it is by no means impossible. To get started, entrepreneur Ryan Rock of Ankeny, IA shares a few ways to help your business keep up with its competition.
Rather than start with a broad, general audience, narrow down your business’s demographics for both your business’s products and marketing campaigns. With so many big companies selling a broad range of products to a general audience, offering something unique can be a shining beacon for consumers. Figuring out what products, atmosphere, and consumer type is key to drawing in customers. Focusing in on specifics allows for a more personalized experience, which will attract patrons over time.
When it comes to your marketing campaign, it’s essential to create something that will both look good and resonate with your audience. You must focus your advertisements to allow potential consumers and regulars to connect with your company’s message.
Offer the Newest, Most Innovative Products
Being the best means offering the most innovative and newest products available. One of the biggest misconceptions of small businesses is that they don’t stay up to date. Keeping up with new trends and advancements means you’ll be able to stay ahead of your competitors and maintain the quality of your business since your business won’t offer outdated merchandise. Quality attracts customers, who will be happy to support your business through word of mouth.
Prioritize Better Customer Service
While large companies may have droves of customer service representatives waiting to assist customers, but placing customers on hold and talking to robots can leave a customer feeling unsatisfied with the experience.
That’s why it’s crucial to concentrate on offering exceptional customer service. Your customers will feel valued and will want to return and send their friends to your business after a personalized, enjoyable customer service experience.
Only Hire Excellent Employees
As mentioned above, customer service is crucial for a business, but a business’s customer service is only as good as its employees. A bad hire can result in bad reviews and can negatively impact your business. However, a good employee will positively affect your business by being a great team member, leader, and promoter of your business.
Connect with Other Local Businesses
Lastly, another great way to compete with large companies is by collaborating with other local businesses. By teaming up with other small businesses, you not only strengthen your local economy, but you build up your business through networking and word of mouth. Working with different companies can be something simple, like coupon marketing, to something more elaborate, like hosting a community event. Consumers will often choose to support a smaller business if they see they are active in their community.
About Ryan Rock
Ryan Rock, Ankeny native, successfully maintains a proactive work, family, and life balance. During his college career, Rock balanced multiple activities, which also forced him to categorize his priorities. Rock’s time-management and prioritizing skills allow his company, Empire AG, LLC, to take up multiple projects and deliver quality work.