David Vs Golliat – Strategies for small business to fight giants
Big budget, strategies, human resources and brand awareness, how to compete with such monsters if you are a small business?
Big corporations are already all around the world.
How to compete against big brands, if they are already well known in several markets.
Small businesses have to work on their niche.
Either if a small business is aiming to a specific type of product that makes it innovative, or they know their local market, small businesses must select how are they going to go for their market.
Obviously, if we compare marketing budgets of both companies, big businesses have their advantage.
That is why, having a narrow and well targeted market could make it easier for Small Businesses.
Small businesses must know their playfield better than Big businesses, and that is the advantage of being local.
As previously mentioned, small businesses have their own advantage that they are playing local.
For the brick and mortar businesses, they can have a direct contact with their customers and get to know them pretty well.
One strategy that this businesses can go for is to aim for a Local SEO strategy.
Their community might know already their brand, therefore the investment on brand awareness is not as big as if they would aim for a national or global expasion.
A well planned content marketing strategy that includes a Local SEO mindset will help the small businesses to rank better on search engines, and even surpasing the services or products of big corporations.
Contrary to the brick and mortars who might already have billboards and stores around a city, small online businesses should also have to find their way to position themselves against big online businesses.
There is no much difference if we compare traditional businesses with digital businesses.
Of course, in digital entrepeneurship there are several and different business models.
But one advantage of online businesses, is that even the small websites have a big possibility to scale up.
Let’s take as example some travelling websites.
There are many small travel portals, like Makespain, that focuses on market niches (in this case Spain) vs the global scope of global brands like booking.com, trip advisor, or The Cultural trip, with multimillion budgets.
In that case, being a travel portal focused in just one region, will narrow it down to just a certain type of areas, cultures and people who are interested in Spain.
Different from Booking or Cultural Trip, Makespain know his topic and that gives them the strenght of knowing their theme, while the previous two are more broad.
Therefore, it would be recommended to start by strenghtening your online business by being niche oriented and creating content around your main theme.
As you might already have your niche topics, also you could aim to contact influencers who are also related to your business.
Niche and Micro Influencers could have better impact than global Influencers.
As it is known the mouth to mouth marketing is the most reliable technique that has helped businesses.
Reaching your target audiences with the help of this influencers could also be helpful to show up the strenghts and advantages of your businesses.
Honest reviews and opinions will generate even more trust in your business, bringing you the advantage to position yourself even better in your market.