Home Business David vs Goliath: How Small Businesses Can Beat Their Giant Competitors

David vs Goliath: How Small Businesses Can Beat Their Giant Competitors

by Olufisayo
Giant Competitors

As a small business owner, you know that you’re not only facing competition from your fellow SMEs, but from large corporations that offer the same, or similar, products and services as you. These larger, established businesses may well be represented nationwide, or even on a global scale, and have bigger marketing budgets and name recognition, which could leave you feeling intimidated.

But the truth is, more UK shoppers are choosing to shop locally with smaller businesses that directly impact the local economy, which is excellent news for you. And with more consumers willing to buy from smaller companies, you have the opportunity to offer exclusive benefits that large companies simply cannot.

Offer same-day delivery

Most large corporations now offer next-day delivery as standard, but few offer same-day delivery to customers without including hefty delivery fees and a very small window of opportunity. For example, many companies may offer same-day delivery, but with a cut-off time for orders at 2pm in order to guarantee delivery.

However, smaller businesses have the opportunity to work with local courier companies who may be able to offer a much faster delivery service. Many couriers, such as CitySprint, operate locally in various parts of the country, allowing for multiple collections and deliveries throughout the day. This means you can offer same-day delivery to customers, with later cut-off times in comparison to competitors.

It’s clear from industry research that same-day delivery is a fast-growing trend. In 2020, the global same-day delivery market was valued at almost £3.4 billion and is forecasted to hit £11.8 billion by 2027.

And with the huge benefits to offering same day delivery to your customers, it’s an excellent way for your business to tap into this growing trend early, attracting customers who are looking for immediate gratification.

Provide a personal approach

This isn’t to say that you need to offer personalized products. Instead, the interactions you have with your customers can be more personal. Larger corporations simply can’t do this due to their size.

But because you’re likely working with a smaller team and a smaller pool of customers, you can take the time to get to know your audience and offer the best customer service you can, whether that’s responding to concerns and queries as quickly as possible, or even showing your appreciation that they’ve ordered from you in the first place.

Shoppers are also starting to expect something special with their packaging. For any eCommerce business, large or small, shipping and fulfillment is one of the most underused marketing opportunities. Your customers are already expecting a package from you, so you should be working to make the experience as memorable as possible.

Invest in good quality shipping boxes, or even branded stickers and packaging, and make sure to include any business cards, freebies, and even a handwritten thank you note. This continually promotes your brand and, if you use premium packaging that really stands out, your brand could become synonymous with it – like Macy’s and the Brown Bag.

Build a close-knit community

The beauty of having a small business is being able to interact with your customer base and allow them to help shape your brand in a way that larger companies cannot afford to. Be responsive on social media and start building lasting relationships with your customers and target market.

According to Hootsuite, almost 50% of internet users rely on social media to discover and research brands, which includes “getting to know who you are as a brand and what you stand for”. If potential customers can see you engage with your following, they’ll be more inclined to follow you and engage with your content. And if you continue responding and reacting, you can start to build a trusting relationship which, in turn, can lead to conversions.

You may also want to get your loyal customers involved in the future of your business. Conduct surveys and polls with your clients and find out what more you could do to improve the experience, or what products they want to see from you. Offering these products can then make your customers feel valued and appreciated, and more likely to buy from you.

Because of this smaller, loyal community, you’re more likely to have the freedom to express yourself how you’d like on social media. Global brands are naturally forced to appeal to as many people as possible but, as a small business owner, you’re free to create your content specifically for your target audience.

Becoming a global brand may have been the ultimate goal for any entrepreneur in the past, but there are some excellent benefits to continue operating as a small, independent business.

Photo by Vlada Karpovich from Pexels

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