Small Businesses and Medium Enterprises and online shopping portals have to compete with the big daddies in the market all the time. When it comes to retail shopping at stores, Walmart and Target are the big companies and have trillions of dollars in revenue.
And online shopping is not complete without the discussion about how much Amazon has amassed in a particular quarter. In fact, since the start of COVID-19, Amazon’s profits have increased by 200%.
The gap between SMBs and Fortune 500 companies has widened in the last two years. But still, all is not gone for them as there are certain ways that they can market a product or service and can carve a niche for themselves in the market.
Some of my readers may think that it is not realistic for small businesses to compete against the giants as they cannot sell a product for a lower price. Of course, when it comes to pricing, SMBs don’t stand a chance but they can compete with big companies on several other aspects.
Read on as I discuss some three important factors, as to how small businesses can also thrive in a marketplace dominated by the big guns.
Being Small is Not a Sin
Surely it is not a crime that you own a small business but if you failed to do justice to it then it will be considered unfair to it. After all, you have worked so hard to start it, but if you will not give your heart and soul to it there is no way that you can compete with other businesses.
And when it comes to doing well against the market leaders, it becomes a difficult ask.
There is good news for every small company as according to the latest survey by retail customer experience.com more than 40% of shoppers want to reduce the amount they have spent at Amazon.
And 30% of them feel guilty after shopping with the online giant. This is an opportunity for small businesses and startups to cash on and offer several products that can be marketed. The pricing needs to be moderate as you cannot offer a lower price than Amazon or Walmart, so be realistic.
Read on as I now discuss how to make your target audience attracted to your product.
Aptly Showcase your Product
It all starts with describing your business to the visitors. Make yours about us page as spectacular as possible. While the design is not everything, it is the details about how you have started, what you are offering to your customers and what are your plans, like expanding your business.
Include Your mission and vision as well. Remember that everything you’re doing will go towards your email marketing tactics , so grab this opportunity with both hands.
Add any icon, logo, and certification that you have received from any organization or Chamber of Commerce. there can be many advantages so that your website will be considered as an authentic one, rather than just another company trying to jump on the bandwagon.
After that, when you are offering details about your products to the customer, proudly display that you are offering most products that are built in your country.
While some customers like to buy a product from a particular country, most of them will buy your product happily.
Establish Brand Loyalty
SMBs and startups need to bust the perception that just the big companies have loyal customers and others can’t have loyal customers.
The shoppers do not give many chances about being loyal to a company as most of the time they are looking for discounts and special offers.
Personalized brand experience can give Ivan new customers something to think about. Provide them with the latest products and services on a priority basis to shed the tag that only big businesses can provide the latest products.
Loyalty programs are one of the best ways to ensure this. When your customers will know that they will get an extra discount in addition to the discount you have mentioned on your website.
Or they can redeem the loyalty points to purchase any product, this will give them more reasons to use your website. Make them feel like royalty as it will enhance the impact of using the services of an esteemed company rather than just another one in the market.
Another way to make them feel special is through sending handwritten notes with an order or mentioning their name rather than the customary “Dear Customer ”.
Everyone likes a customized message as it looks personal. Even in newsletters and emails, this treatment will go a long way in getting their support and make them happy and loyal customers.
Market your Product
Focus on product specialization and offering your expertise to your current and prospective customers is critical to make things work in your favor. A detailed explanation about your product can be made through a blog that you can use effectively.
Do not leave any opportunity behind to appreciate your customers’ loyalty and how they have been shopping for you over the years.
For new customers, you can start a regular blog in which you can showcase what they can achieve if they become your regular customer.
You can offer various posts in the blog and describe your product, detailed specifications, and how it is different or better than all the others available in the market.
But you have to do all this without being over-dramatic or talking with a sales pitch. Blogs are not considered something to sell directly to a customer but an information base where you can showcase yourself as the authority on the subject.
In this way, your blogs get more traffic and Google also recognizes you as one of the best sources of information for that particular product.
The Product Section
In the product section, this is where you can win or lose the battle. By offering images and videos that showcase your product in the limelight, small businesses help their customers better understand the whole process and what benefits they will have. The images and the videos must be originally produced and can be linked to your blog and social media channels.
Some of your customers may be interested in document verification to check the authenticity of your business. There is no harm in that, and you can put up a webpage confirming all your credentials, certificates and authorization from the concerned authorities.
Showcasing your product line deftly and through blogging, you can ensure you have given your product every chance to succeed. The result may not be in your favor in the initial period, but small businesses also thrive in the market amongst the big in the business. Make your communication flawless to give yourself the advantage of remaining in touch with customers through the website and social media platforms.
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