We had a new client, not long ago, fill out a questionnaire, including a question about the closest competitors. In bold was one particular name, which was considered to be the ‘untouchable’ giant. Our client said that the name had to be mentioned, but that there was little hope of capturing much of that company’s market share. After all, how can a little, unknown business hope to take on the big guys with Del Mar Online Marketing, right? Wrong. Remember, every big company was once a small fish in a big pond. Few companies know instantaneous success. Furthermore, the greatest thing about competing in this day and age is that the huge advancements in technology have somewhat equaled the playing fields. A big budget doesn’t guarantee you success any longer. Creative marketing is the key.
Though the game has changed, a few key rules have remained, and there are two that are going to directly apply to your efforts, if you are the small start-up preparing to take on the Goliaths of the industry.
Customers Love Individual Recognition Why were mom and pop stores able to survive for years, despite the growth of large box stores like Wal-Mart? Because they were able to offer a personalized shopping environment that the big stores couldn’t. The same rules really apply today. You might not be able to compete with the marketing budget of the big guys, but you can engage consumers on a personalized level. There is technology – database mining, behavioral email marketing, etc. – that makes this possible, but you have the capability of taking that one step further. Social media gives you a direct line to the customer and you can use it to converse with your customers in real time.
Niche Marketing Rules It’s the first thing taught in Marketing 101 for a reason. Finding your niche and selling directly to those within it means a greater ROI on a smaller budget. You won’t take down that giant in one fell swoop, but if you can pull your niche away, you are nicking away at the big guy, and when that niche has been stabilized, you can slowly work your way into others.