Small Business Marketing: How to Stand Out in a Crowded Space
One of the biggest challenges businesses face is standing out in a sea of competitors. Entrepreneurs have to put out unique products and implement effective small business marketing strategies to attract relevant audience. Fortunately, with the right knowledge and master plan, your company can outrun its biggest competitors.
According to a study done by the U.S. Small Business Administration back in 2019, there is a total of 30.7 million small businesses – and that’s in the United States alone. We’ve got some useful small business marketing ideas that marketers and entrepreneurs can use, so enjoy reading.
Utilize Competitive Analysis
Doing competitive analysis will help your team understand the ins and outs of your competitors. The more you know about what you are going against, the easier you can create a master plan that helps you in improving your business model.
- What are the different ways to market their products?
- What are their strengths and weaknesses?
- What are my competitors’ market shares?
- What type of small business strategies are they currently using?
- Can I seize any opportunity available for me?
Once you’ve got everything covered, it’s time to assess how you can go about making everything better for you to stand out in the industry.
Customers love having a sense of security when it comes to buying products and services. Giving guarantees can help gain trust which will undoubtedly set you apart from your competitors. Here are some customer satisfaction guarantees that you can offer as a small brand:
- Money-back. Refunds are one of the most common types of guarantees, yet many businesses are still not offering to their clients. This type of bond helps buyers pursue their purchasing plans, as they can return the product and get their money back if they didn’t like the item.
- Trial periods. Trials are prevalent in brands that offer intangible services such as software and online tools. You can provide a try-before-you-buy promo where customers can try your services so they can decide if they want to push through with the investment or not
- Bonus refunds. This is quite similar to the money-back guarantee, but instead of just returning the buyers’ money, a promise to double or triple their money if they do not like the item is assured.
- Lifetime. Some businesses offer lifetime repair or replacement of the products that they sell.
- Best price. The best price guarantee is primarily popular with highly competitive industries such as clothing and furniture. The main idea is that if the buyer finds another company that sells the item for a lower price, then the consumer gets a refund or something else in return.
Mirror Your Customers’ Values
Nothing speaks to the target market than finding a company that shares the same values. Find your niche, and make sure to do your research to find out your clients’ behaviors. Your brands’ values should reflect your mission and vision, products, services, office environment, and even the employees you hire.
Humanize your brand and make sure that your customers can relate to your principles. Doing this is a great way to attract new clients, which can be loyal purchases in the long run. Once you make a name for yourself and people identify you for your merit, other shoppers will flock to your door, helping you outrun the competition.
Focus on Communication
Many companies are so out of touch with their target market, that they forget to prioritize one of the essential things in the business, which is communication. If your patrons do not feel a sense of trust and sincerity with the brand, then chances are they will run off looking for another company that can fulfill their needs.
Moreover, brands should implement excellent customer service so the issues will be solved in real-time. Here are other tips for outstanding customer service to improve your small business marketing strategy:
- Be patient with the buyers and listen attentively. Do not interrupt them while they are relaying the issue.
- Proactivity is always a good solution.
- Be honest and apologize for the inconvenience, but do not overdo it to the point that it annoys the consumer.
- Acknowledge their problems and offer solutions.
Hiring customer service representatives and getting the right tools can help you get on top of consumer complaints.
Lead a Community
People are more willing to trust to someone that they can relate to. Whether it’s their friend, family member, or even a stranger from the same community, getting rave reviews from someone with a shared interest can boost their trust and beliefs in a brand. Create a safe space wherein your customers can freely communicate with each other. Your customer service and marketing team should be actively communicating with your consumers, too, so these individuals know that you are involved in the community that you are trying to build. Here are some ways you can create a strong community within your brand:
- Be open to embracing social causes. Showing the people you care about them and that you are willing to help out will help them see that you are dedicated to your cause.
- Get your customers involved. Create groups on social media and encourage them to post, comment, share, and interact. You can also get people to comment on your blog posts and communicate with each other.
- Build your social media presence by developing a value-driven cause.
- Work on implementing these values and projects into your blogs and email newsletters.
As long as you know what your brand stands for and how to deal with customers the right way, you can outrun the competition and start building a name for yourself. The small business marketing tips that we have discussed above are only the start of your journey, as your success lies in implementing and practicing these recommendations.