If you’re the owner of a small business or considering starting your own venture you will know that breaking into a new marketplace is not easy. Your competitors are often larger, more established corporations who—thanks to a strong brand presence and bigger budgets—rule the current market.
But all is not lost for small business.
Recent studies highlight how local economies and communities benefit from small business practices. New job opportunities are good news for job hunters and a more personal touch to service delivery can draw more clientele. Also, remember that even large corporations once started off small, and with time transformed into success stories. What can you do to compete with the big boys and boost your small business?
Create a Professional Image
Working from home may be the first step for every small business owner. However, consider a unique office setup as soon as your business budget allows it: Serviced offices give your business the professional image that gains trust from your clients. As a bonus, you get a business address at an impressive location. Don’t think this decision will waste your money. Serviced offices can limit your business costs as they’re fully furnished and equipped with the necessary office technology. You can also rent boardrooms and reception areas instead of building your own.
The chances of your product or service being original are very slim, but nothing prevents you from a fresh or personal approach to your product or service; In other words – create an original brand experience. How? Start a blog for your business.
Blogs that cover relevant topics will optimize your website’s performance in search engines:
- Share your story.
- Why did you start the business?
- How will your product or service benefit the community?
- What makes your business different?
Despite the tech age people respond to personal approaches, so use it to your advantage.
Invest in a Strong Online Presence
Use the web and social media platforms to your full advantage. It’s important to stay ahead of the latest online trends so you use the options most beneficial to your niche. For most businesses, this is a priority. Everyone has a website these days, however unless your target customers can find you, it’s just an expensive digital brochure. Aligning yourself with a reputable digital marketing agency that specialize in SEO (Search Engine Optimization), Google Ads, social media advertising and other startegies can get your website working for you so your customers can find you online.
Build a Relationship
This approach links closely to your online presence, because people spend so much time on the internet these days. Create a social media page and build a strong online community. It’s critical to understand the needs of your target audience, create conversations with your target audience and act upon their feedback. It’s not just about keeping them happy — the feedback you gather will direct your next steps, as you now know what your customers want. This is how the big companies determine their marketing goals so you must follow suit.
For any small business, competing successfully is about building customer relationships, brand visibility, a valuable product offering and quality service. However, the methods you pick will be determined by your preferences and goals. Serviced offices provide you with an essential professional work environment. Conversely, if networking is your immediate priority, stay on top of social media and online trends to ensure that your business is a step ahead of the competition.
Be loud, be bold and don’t forget to enjoy the challenge!