Marketing Advantages of Small Businesses

26th October 2017

Marketing Advantages of Small Businesses

For small organisations and individuals, the prospect of competing with larger businesses can seem daunting. But there are many areas where small businesses have an advantage. Marketing is one of these.

The Ability to Create a Personal Experience

It’s easy for customers to feel lost or ‘just a number’ when dealing with large businesses. Most people know how frustrating it is to be passed from department to department and speak to someone new each time they phone a company. For these organisations the goal is often to streamline processes in order to maximise profits. However, this is an area where small businesses can make a difference. Their customer base is small enough for them to tailor their services and processes to the individual and create a personal and unique user experience. There’s a huge opportunity to be creative and provide something that little bit different.

The Opportunity to Know Your Customers

Big businesses have masses of data to collate and analyse before they can begin to get to know their customers. They are reliant on systems to do this for them. Whereas small businesses are able to get to know their customers on a personal level. They are likely to have greater one-to-one contact and this can be a distinct advantage when nurturing customers and building long and loyal relationships.

Requesting Feedback

If you have fewer customers to deal with, obtaining feedback is a much simpler process. Bricks and mortar companies can do this formally and informally on a regular basis. It can be as simple as asking customers their thoughts at the checkout or when they’re on their way out. Or it can be requested more formally via feedback forms or online surveys. Your customers are a rich source of information. As well as letting you know what you’re doing right, they may also provide useful suggestions on how to make changes or introduce new products or services.

You Have Access to Affordable Channels

A few years ago purchasing TV ads and magazine spreads was the way to get your name out there. However, it meant that smaller brands with small budgets couldn’t compete. In 2017 there are so many more digital channels that provide a low cost (or free) way to promote products and services. However, it’s important to note that though the tools and channels may be free of charge, you need to account for your time. Creating engaging and effective content can be extremely time-consuming and this needs to be taken into consideration when planning budgets.

Flexibility

Small businesses are, on the whole, much more flexible than their larger counterparts. There’s less red tape to cut through and less managers. This makes it quicker and easier to get the sign-off on projects and new initiatives, reducing the time taken for launch.

Creating Strategic Partnerships

Small businesses have a great opportunity to create partnerships with other like-minded organisations. This enables them to pool their resources, share databases and open up their audience. Of course, larger companies have this option too. However, it can be a much longer process and may require lengthy and costly legal processes in order to work.

Being Creative

Being smaller has its advantages. One of these is that you have a lot more scope to be creative and spontaneous. Smaller organisations are less restricted by rules, regulations and processes. This frees them up to think out of the box and be innovative.

So, take full advantage of these factors the next time you plan your marketing activities. Rather than focusing on the areas you can’t compete in, look carefully at your strengths and find new and innovative ways to engage your customers and create impact.

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