Ever wonder why customers choose your competitors over you? It might not be because of better products or prices. It might all come down to how they market. If you want to show you’re the best in your industry, start with this four-step small biz marketing strategy.
Define Your Value
Before you start looking at your competitors, it’s important to understand what you bring to the table. Why should people choose you? What do you do better than anyone else?
This is what we call your Unique Selling Proposition, or USP. It’s the value you provide that gives people a reason to choose you. If two businesses are just alike, one isn’t really needed.
Your USP will drive your marketing strategy. You’ll want to communicate it in your messaging, whether it’s lower prices, better brands, warranties, return policies, free shipping, or anything else that will attract customers.
Know Your Competition
You can’t beat your competition until you know who your competitors are. By definition, a competitor is any business that shares your audience and can potentially take sales away from you. This includes direct competition, such as a business with a similar product offering as yours, as well as indirect competition, in which products may differ but may be an alternative choice for the customer.
For example, a soda company and a water company are indirect competitors. They sell different products, but both can serve the same customer needs.
Build an Offer Around Competitor Weaknesses
Take stock of your competitors and how they’re marketing themselves so you can fine-tune your own strategy. Specifically, look for areas where they appear to be weak and see how you might fill the gap.
Social media and online reviews are great places to sniff out competitors’ weaknesses. Customers will willingly share what they dislike about a company. Tailor your offer and messaging to make you look like the better choice.
Choose Your Marketing Channels
Got an offer? It’s time to share it! Choose the right channels to reach your target audience: social media platforms, email, paid ads, direct mail, or other means of connecting.
Marketing your small business is a key part of your growth. Not only will it help you get more sales, but it can also mean stealing customers away from your biggest competitors.
Need help putting your small biz marketing strategy into motion? Connect with an industry expert today!
