You don’t need to think small just because you’re a small business
As a small business owner, it’s easy to feel like a small fish in a big pond. The business world is expansive and constantly changing, and trying to carve out your own piece of it is no easy feat. You may feel like you’re doing everything you possibly can to be successful, yet you still find clients choosing to go for bigger names rather than your services.The reason for this is that investing in big companies is seen as less risky. They are seen as more established, more reputable and less likely to cause a headache down the line. Of course, we know that this isn’t always the case. There are plenty of perks to choosing a small business, from personal service to a passionate workforce. But it’s up to you to convince potential clients of this. A compelling enough reason can help convince a potential client to switch to your services.
So what can you do to help your business stand out in a busy market filled with big names?
Creating the illusion of grandeur
Being a small business in the modern age can feel overwhelming, but there are numerous benefits to the technological revolution. For one thing, the internet is a fantastic way to level the playing field. You may not be able to afford the same office space or physical presence as big brands, but you can still make your presence known on social media, Google and through online reviews.
By appearing active online with frequent social posts, customer engagement and regular blog posts, you can give the impression that you’re a much bigger business than you actually are. Live chats, virtual assistants and social media scheduling tools can also help you punch above your weight.
What’s more, this plays to what people want from their companies these days. A survey by Salesforce found that 59% of B2B buyers would rather find information online than speak to a salesperson, while 84% of people trust online reviews as much as recommendations from friends.
You don’t need to resort to being the cheapest
When we’re trying to think of ways to make our business more desirable, price is often one of the first things that springs to mind. But think about it – how often do you go out in search for the cheapest possible car or clothes?
We don’t shop based on price alone. We primarily look for things that appeal to us, and seeking out businesses is no different. In fact, research from Kinnek shows that price is the main consideration in less than half of business purchases.
Instead of focusing on being the cheapest, focus on being the most valuable. For a fair price, your services should continuously meet and exceed expectation. You should be proactive, focused and personable with your clients.
Make use of FOMO
If you’re not familiar with the concept of FOMO (Fear of Missing Out), then now is the time to get familiar with it and learn how to apply it to your business.
Research by Daniel Kahneman found that decision makers were 3x more likely to act in response to the threat of loss than they were to the opportunity of gain. A lot of people avoid switching to the services of a smaller business because they see it as a risky decision, so what you need to do is – as well as making your business seem exciting – make missing out on your business seem like the risky decision.
In order to do this, you need to show the value of changing to your business. What benefits does your small business offer that other, bigger names don’t? What can you bring to the table that your potential client simply can’t afford to miss out on? Once you’ve established this, you’ll be much more likely to successfully win clients over.
Need help getting your small business off the ground? Here at TEDCO Business Support, we’ve helped countless companies get started and find success. Find out what we can do for you by getting in touch today. Just call 0191 516 61 02 or email us at firstname.lastname@example.org.