Customer Service

Your credo should be “every customer is the same”. Thus, you can create an atmosphere in which you treat all your customers the same regardless of how much they have spent in the past. Focusing on customer service can assist you in using this to your best advantage in that the larger competitors sometimes fall behind on this one-on-one aspect. As a small business, focusing on details will impress the customer and be very do-able. While larger companies may be able to do away with certain customers who may be “trouble” or “low spenders”, your business cannot afford that attitude. Treating all customers with the same advantages and detail will afford you the ability to retain more customers for longer periods of time, through thick and thin.

Provide customer incentives to retain them, and “woo” them once in a while with a phone call or lunch. Begin a special incentives program for customers who have maintained loyalty, and they will repay you with loyalty. Keep in mind that you may have to tailor your benefits according to the customer. Some may appreciate discounts or lunches, and others may not respond to those things as favorably.

Collaboration

Joining efforts with another similar company may help boost your business as well as theirs. If you are a member of an organization such as a Chamber of Commerce, find out what other businesses may be suffering or losing out to bigger businesses. Offer to team up. Collaborating with different companies also may help, as you can combine your services to assist one another and your customers. Consider joining operations with someone who currently is a supplier or customer.

Develop Your Brand

Branding is an essential consideration. Be sure your business can effectively create a product or service that has an identifiable name and uniqueness associated with your specific company, known as brand. Ensure your brand stands apart from that of larger companies, be it for being less expensive, less time consuming to produce, and so on. 

Ensure your product or service is unique in as many ways possible. As yourself these questions: Why would I purchase this particular good? What is its value? If you sell the same product as a competitor, then perhaps you can increase the warranty time or technical assistance offered, as an example. Try to provide a product or service that stands apart, something that your competition does not offer already. If they do offer it, try to put a different spin on your idea. If yours is the only one available, customers will have no choice but to accept your price range. Attempt to modernize or change your product or service in times of tough competition with larger businesses. 

With a smaller business, you can highlight the fact that your expertise lies in selling fewer products but holding more knowledge about them, versus larger companies who may sell a little of a lot and not know anything about the products. Consider yourself an “expert” or “specialist” in the products and services you sell. If you feel you have not achieved that status, learn more about what you offer and educate your employees and customers to demonstrate your expertise. Explaining that you have recently learned certain things serves to prove that you care.

Use Advertising to Your Advantage

Larger companies may or may not advertise. Some very large companies or even mid-sized ones opt not to advertise. While an added expense if not already budgeted, advertising can help boost your sales when the “big guys” are not putting their names out.

Use Technology to Boost Your Business

Technology is more affordable now. For instance, voice mail, laptop computers, two-way radios, and web sites are much less expensive and more readily available than they were 10 years ago. Your company will appear professional and “with the times” as compared to some larger, well established companies who may not feel they require a web site or voice mail.

Take Good Care of Your Employees

Employee input has never been more valuable than when determining the direction of your company as it concerns big business competitors. Employees will value the fact that you seek their input, and they may honestly offer you advice. Take care of employees in other ways as well, in terms of their work happiness and well being. Offer incentives when possible, such as time off, or host small parties and informal sessions or retreats to thank them for their efforts. Though it’s a tough economy, employees may seek and find work elsewhere if they feel mistreated or ignored. Employee retention is always important, especially when costs are a factor, and replacing good employees can be costly.

Always Be Professional