Small businesses fight an uphill battle when it comes to marketing against large corporations. Well-established companies have greater resources than independent operations – for instance, multinational chains have ample funding to conduct market research so they can create advertisements that appeal to large groups of consumers.
Fortunately, small business owners have some unique advantages that can make their marketing campaigns more successful than those of their competitors. Unlike large corporations, local startups don’t have to deal with internal struggles during the developmental stages. Entrepreneurs simply have to make key decisions when it comes to their advertisements.
No red tape
Corporations use the bureaucratic process to make decisions. Plans must be approved by multiple departments before being given the green light. The roundabout strategy prevents progress and quick decision-making. Inc. Magazine points out that small businesses don’t have the burden of lengthy approval processes.
Independent owners enjoy the final say when it comes to their advertisements and don’t have to answer to anyone else. Once an owner feels comfortable with a new campaign, he or she can forge ahead. For instance, a local company can use promotional marketing products without having the plans approved or tested in focus groups. Fast decisions can eliminate many of the logistical hurdles associated with marketing.
Closer to customers
As noted above, large corporations conduct thorough research to optimize their advertisements. Companies seek feedback and quantify the data to locate prevailing trends. Unfortunately, large client bases don’t lend themselves well to studies, because all of these customers won’t agree on certain discussion points.
The Houston Chronicle reports that small businesses have close relationships with their customers. Entrepreneurs regularly speak with their clients and often get involved in the community. The bonds that owners share with their patrons can be valuable for marketing purposes. If a customer says he or she enjoys a certain gift like promotional flash drives, the establishment can use that information for future giveaways.
Franchises and large businesses have uniform marketing standards. Executives make all of the decisions and don’t leave any room for new, outside-the-box approaches. There are some benefits to universal advertising practices, but they can sometimes hamstring the creative process.
Consumers generally ignore generic and repetitive content. Small businesses, fortunately, have greater freedom to try new tactics to attract potential customers. Owners can distribute new prizes during promotional giveaways and change the format of their direct mail to draw attention. After all, variety is the spice of life and helps local establishments generate brand awareness.