We all probably know the story of David and Goliath (or the story of Nestor in the Iliad, for you Greek History buffs). When everyone else is too frightened to take on the 800-pound gorilla in the room, it falls on the shoulders of the unexpected, the meek, and the small to take care of business and conquer the giants. The lessons of these stories can be applied to many places in our lives, but no where are they more applicable than the small business world.
Small and medium businesses are often afraid to take on larger businesses competing in their space, positing that they don’t have a large enough team or enough money to make a dent in their Goliath’s marketing efforts, so they settle for “just good enough.” I’m here to tell you, your efforts to gain market share are not subject to a lack of resources, rather a lack of resourcefulness.
It’s a matter of making the advantages you have make all the difference in the world.
Agility
For most Goliath sized competitors, their weakness lies in their in ability to move and change at a moment’s notice (after all, they did just spend $4 million on a TV spot that no one is going to see). It takes them days or even weeks to start testing to see if a new social media channel will work for them, small businesses don’t need 7 sets of approvals before they test a new channel. Use your agility to your advantage, don’t be afraid to just get started and try something new before the big guys, chances are you will know pretty rapidly if it will help or hinder your business.
Passion
We hear the saying “Content is King” almost every day, but the good news for all you Davids out there, is that “Passion is Prince” (no, not the artist formerly known as Prince). As a whole, small businesses are more passionate about their products and services because…they have to be. I’d be willing to wager that if you walk into a locally owned home theater store, that they know a heck of a lot more about the TVs and speakers they carry than anyone working at your “local” Best Buy. The simple fact is, people will buy from someone they feel a connection to. Channel that knowledge and passion for your product and help create a personal connection to your customers with your content. The phrase “be yourself” is a tad cliche, but it truly applies. Put a passionate and knowledgeable face with your content and the personal connection (and resulting sales) will follow.
Greed
For whatever reason, when a business grows over a certain size, the seem to forget what got them there and start trying to be everything to everyone (I went into the dangers of this last month, read it if you missed it). Instead of trying to please everyone or acting like a know it all, cast your net a bit smaller. Focus on truly understanding your audience, what they want, what they need, and how you can help.The best part of this strategy is that people willingly volunteer this information on social media, you just have to be there to listen. In other words, all it costs you is TIME.
Do me a favor, take some time this week to sit down and understand how your small business can exploit these three weaknesses in your competition’s marketing armor (and make sure you’re not guilty of any of these yourself!). I promise, you will be a hero to your business and your bottom line.
Have you taken on a behemoth in your industry and won? Let us know in the comments section below.
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