Five marketing strategies to help small and start-ups compete with big businesses (and win)

Today’s marketing is no longer about size.  It is not even about budget.  It’s about strategy, identifying and capitalizing on the right relationships and opportunities, and being present in the places where your business’s value can be appreciated. 

As many economies slowly emerge from the past year’s uncertainty and even while some still search to find their footing, small and start-up businesses that have little option but to survive, are encouraged to continue experimenting with different marketing strategies to attract new customers, expand their market reach and retain existing customer groups.

The challenge many of these businesses face though is that they lack the resources to put themselves and their businesses out there. 

Despite the picture painted by many, there are small and start-ups who are successfully providing and capturing value from their customer groups.  These businesses take the time to develop carefully crafted marketing strategies, are consistent in applying them and measure and adjust where necessary to achieve optimal results.

My latest compilation is a list of five marketing strategies that can help small businesses to be competitive against their larger counterparts in the marketplace.  Here we go:

1.    Create a solid digital presence – This is the most level of playing fields for competition.  Online, no one can judge your business by size or bank account.  As long as you target the same customers, it comes down to who has the most attractive message and can convince the customers that theirs is a better value.  Use your digital presence to build your brand, whether it’s a name, process or product.

2.    Engage professionals for a professional look – One of the many ways that small businesses fail in attracting an audience is having an undefined or unprofessional look. A small business may not be able to engage a marketing agency but a short-term Freelance Marketer can help to define your brand identity.  Use that information to define how you will present as a business.  This is one way to distinguish your brand from the next.

3.    Innovate – One of the greatest hallmarks of a successful business is its ability to innovate.  Innovation drives business growth and success.  Innovation also helps a business to be able to position itself as a creator, solution-oriented and providing a value for its customers.  The great thing about being small in this context is also the ability to effect and dominate a niche with the value that you provide.

4.    Capture a Niche and serve it well – Because the resources in a small business is usually limited, it is better to identify a niche, capture it and serve it as best as possible.  Don’t try to compete with all and sundry, define who you are, who you serve and what you provide and be laser focused on your business objectives.

5.    Build a well-oiled customer service machine – Customer service is not just about answering queries or complaints, it’s providing value throughout the entire customer experience.  Good customer service establishes customer loyalty, increases the probability of your business being referred and captures value from the customer.  Continuously fine tune your customer processes, use feedback to … the customer touch points and always deliver what is promised.