Many small business owners dream of becoming so successful that they’re realistic competitors for big brands in their industry. However, most never make it to this legendary status.
This may be because they didn’t spend enough time using marketing to their advantage to build brand awareness and establish themselves as the top small business in their respective industries. If you’re a small business owner looking for guidance on improving your marketing and becoming real competition for big brands, you’ve come to the right place.
Here’s how small businesses can expand their marketing and challenge large corporations for the top spot.
Leverage the Digital Tools Available to You
If you want to develop a robust marketing strategy and expand your business’s digital presence, tech tools are a must.
Digital tools can help you better understand and serve your target audience. They can give you insight into your competitors. They can also make your marketing techniques and processes more efficient.
Start with artificial intelligence (AI) tools to streamline SMB processes and free up time for marketing tasks that require a human touch. For example, AI-based graphic design tools can create your brand materials. An AI web developer can put your website together. AI tools, like chatbots, can automate repetitive marketing communications as well.
The effective use of digital tools can give you a massive advantage as you compete with corporate marketing.
Strengthen Your Brand
Your brand is one of the most critical factors in standing firm against big-name competitors. You may be unable to compete with how much money and resources large corporations have to throw at marketing. However, you can level the playing field with branding.
A strong brand helps you build brand awareness. When people become more aware of your brand, they’re more likely to recognize it wherever they see it. When they start to recognize your brand everywhere, they’ll become intrigued by it — and that will lead to engagement with your business, resulting in more conversions.
So, focus on strengthening your brand. Define the visual elements of your brand, like your logo, brand colors, and typography. Spend as much time on the non-visual aspects, like your brand’s personality, messaging, and tone.
Also, define your business’s mission. Identify your niche and pinpoint the unique problem you’re solving for your customers that big brands don’t. For example, proper e-commerce management should focus on making your business a staple in your particular industry and building a community around your products. Shine a bright light on this community-building as often as possible to stand out.
Build a Presence on Social Media
Building a strong digital presence, particularly on social media, can be a secret weapon in your competition against big companies.
Creating profiles on most of these platforms is free. You have control over the content you create and publish. And you have the potential to reach as broad an audience as you want to. Built-in analytics tools are a plus as well.
Suppose you take the time to create an attention-grabbing profile, design and post unique content consistently, commit to connecting with as much of your audience as possible, and make good use of analytics tools. In that case, you have a good chance of taking your business marketing strategy to the next level and making a name for yourself on social media.
Also, you can use social media to spy on your competitors and see what they’re doing to connect with their audiences. Furthermore, follow thought leaders in your industry and fellow small business owners to build a solid professional network that can help boost your marketing.
Get Comfortable With Data Analytics
There’s an overwhelming amount of conversation around the benefits of data analytics. However, that doesn’t make them simpler to understand or less complex to manage.
Still, familiarizing yourself with data analytics is integral to holding your own against large corporations. Leveraging data analytics tools can help you:
- Create better content;
- Capitalize on what’s working;
- Evaluate your individual campaigns;
- Better understand your target audience;
- Identify what isn’t working in your marketing.
Don’t feel like you have to learn everything on your own or in a short time. Instead, pace yourself. Learn the basics of data analytics first and immerse yourself in the tools and technology used in the process.
Set aside time each day to further your education on data analytics. Also, check the analytics tools you’re using for your digital marketing channels often and see what insights you can pull from the data. If you need to hire someone to help you with data, do it.
When you become comfortable with data analytics, you can make more promising improvements to your strategy that generate consistent results.
Work on Your Finances and Increase Your Marketing Budget
47% of small businesses spend less than $10,000 on digital marketing. Many even spend way less than that. Investing a lot of money into marketing doesn’t make it effective.
However, having a decent-sized marketing budget and knowing how to use it productively is good for your efforts. So, stay on top of your business finances.
As you become more profitable, you can increase your marketing budget. Then, after analyzing your data, target audience, and past campaign reports, use the funds to invest in tools or techniques that will enhance your marketing strategy and make you more competitive against big-name brands.
Many small businesses don’t even consider competing with corporate marketing because the task seems daunting. However, expanding your marketing and going head-to-head with big names is more feasible than you might think. Being consistent with the tips above can show you that.