Posted August 29, 2012 by admin in Uncategorized. Tagged: 2 Comments
It can be disheartening to do a competitor analysis as a small business owner and discover that a very big fish has a titan grip over your target audience. There might still be hope for your small businesses, or you might need to zero in on a niche part of the marketplace that is under served.There are also great equalizers in technology that level the playing field, and tips and strategies to effectively compete with large companies.
Be where your target market lives online, but be discriminating. Consider using social media and creating a website to reach your market, but do this strategically. Research your target market. Get into their head. Literally pretend you are your target market, and navigate the website the way they do.
Don’t waste your time maintaining social media networks if the way your target market is using these sites doesn’t warrant your efforts.
Seduce your market with inbound marketing. Use PPC campaigns and make sure your online efforts are SEO optimized. SEO doesn’t need to be a mystery. Save money by learning SEO basics and take matters into your own hands.
Amp up your customer service. Customized service is often easier for small businesses to master, and can act as a key competitive advantage.
Take advantage of capital and grants available to small businesses. There are many sources of money that businesses have access to. For example, small businesses can often employ people whose wages are covered, in part, by the government in certain sectors.
Use your size to your advantage. Large companies are often slower than their small business counterparts to make necessary changes to their organizational structure and processes.
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