SMB's David Against Goliath
Having limited resources does not mean you can not market your business
against those big guys. If you are careful, target your market, and research
your resources, you can come out on top. Let me go over just a few tips that can
help SMB's overcome their larger competitors using strategies that can have
Growth: Specific individual markets can be a good source for SMBs Find a niche that the larger box stores overlook. They go on volume and often never carry specific specialty products customers may look for. A good example. I have often gone into Ace Hardware and found a specific electrical item that Lowell's, Home Depot, or Wal-Mart never had on their shelves. LG, whom you always think of for flat screens, started making front loading washing machines and chose the US to introduce its product because we are so accustomed to Top loading consumer machines. Another example. I recently worked with Lenovo for a desktop deal. They are now number 3 in the computer desktop market. Why? because they changed up their target market to medium and large enterprise markets knowing this market is being ignored by mass retailers.
Promoting: Promote your business to the people or market you are trying to reach by telling about yourself and what you offer. Don't use those old clichés of "We service What We Sell" or "Clean Isles" or "Small enough to know you" Focus on your strengths of Why you sell the products that you choose to merchandise. Be bold and know your customers! Sure, it does not hurt to know you can spend time with your customers and you might have the coffee pot on for them with some of that small town flare but advertise and research your mix. In the end, you will win!