Image by Peggy und Marco Lachmann-Anke from Pixabay

By James Daniels

One of the biggest challenges for small companies is having to compete with the larger, more established brands in their industry. These larger companies usually dominate, which can make it hard to establish your own brand and attract new customers, so what can you do about this? While it will always be difficult to compete with these bigger brands, there are a few steps that you can take as a smaller business that will help you to compete, improve and attract more people to your company. So, if you are tired with losing out to the bigger brands, then read on for a few steps that are worth taking.

Improve recruitment

It is hard to compete with the bigger brands if you are not powered by hardworking, experienced, and talented employees that can take your company forward. This is why it is worth using application tracking software that can help you streamline and improve your recruitment process to identify and bring on the top talent out there. The software allows you to automate many aspects of recruitment and utilize a data-driven end-to-end process for much better results.

Identify a gap in the market

It is very hard to compete with more established brands if you are not bringing anything new to the table. The consumer will usually go with a bigger brand as they know what to expect, which means that to attract your target customer, you need to identify and fill a gap in the market. Of course, this is easier said, but competitor and target customer research will hopefully give you an idea or two and keep in mind that markets are constantly changing, so new opportunities can arise.

Go above & beyond with customer service

Small businesses often prioritize customer service, which is smart because larger companies can struggle with this area. Ensure that you get to know your customers, provide a seamless experience, resolve any issues swiftly and look for small touches that can leave a big impression, such as handwritten thank you notes or a free sample. This will help you to retain customers as well as benefit from word-of-mouth marketing.

Start a referral program

Following on from this, you can also attract new customers to your business and improve your reputation with a referral program. People will always listen to their network’s recommendations, so incentivizing your existing customers to refer your business to their network will always yield results and help you compete at a much higher level. It is then a case of winning over these new customers with a high-quality product/service combined with excellent customer service.

Life can be tough for a small business, particularly when you have to compete with much bigger brands with brand awareness, reputation, and experience to attract the lion’s share of the target market. However, the above are all smart steps to take, that can make a big difference and help you to compete at a much higher level.

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James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. He is also an avid reader, who can while away hours reading and knowing about the latest gadgets and tech, whilst offering views and opinions on these topics.