It takes a smart, brave, and passionate entrepreneur to go up against large, established brands in an industry and win. If you are full of passion and believe your business fills a gap in the market that your competitors cannot, you must execute a strategy that turns your business into an industry leader.
Don’t rule your startup or small business out of the market. Find out how your small brand can compete with big companies.
Adopt a Personal Approach
A large corporation might have huge buying power, cheaper prices, and a recognizable brand, but it might lack the personal approach. Due to the sheer number of customers on their database, they might be unable to cater to a specific customer’s needs, which is where your brand comes in.
Rather than competing with a brand on price, make it your company’s mission to impress every single customer you secure. Look for ways to prove how much you care about your client’s satisfaction and custom, as you could:
- Send a gift specific to a customer’s taste or past orders.
- Answer their calls and messages immediately.
- Send a thank you card with an exclusive discount.
A customer might be happy to pay a higher rate for a product and service if they receive a responsive, caring customer service experience. It could encourage them to ditch a big brand once and for all.
A Registered London Office
Most big companies tend to set up headquarters in a major city, which will instantly provide them with a premium address. As a result, your postcode could indicate the size of your company and its potential lack of experience in an industry, which will instantly put your brand at a disadvantage.
Level the playing field by paying a small monthly fee for a registered, virtual London office from thebrew.co.uk. You’ll not only have a premium postcode to promote on your website, brochures, letterheads, and social media profiles, but you will receive mail-forwarding, call-forwarding, and scanning services.
Differentiate Your Brand and Products
Competing with big brands isn’t a simple feat. If you want to grab attention and hold onto it, you must differentiate your business and products from your established rivals. Review what your competitors are doing to identify their weaknesses and how you can set your company apart.
If you believe your business is the best for a specific service, don’t be afraid to promote its benefits compared to your competitors. If your rivals appear formal, create a more attention-grabbing brand that better connects with a specific demographic.
Connect with a Community
Don’t view your company’s small size as a weakness and turn it into a strength. As a big company might operate at a national or international level, they are unlikely to connect with one or more small communities.
Connecting with your community might sound small fry, but your efforts across a town or a city could help you receive many sales at the start of your business.
For example, you could:
- Sponsor a local sports team or event.
- Host free workshops or networking opportunities.
- Volunteer to support a charitable cause.
- Provide exclusive discounts to members of a community.
The strong connections could lead to lifelong loyalty, positive word of mouth, and a fantastic brand reputation. It will provide a solid basis for growth while allowing you to learn more about your community’s wants, needs, and behaviors.