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How to Compete with Industry Leaders

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Something that every small business struggles with no matter what industry they are in is competing with industry leaders. Consumers tend to gravitate towards these larger companies because they are much easier to discover — and they will often have a positive reputation — so people believe that they will have a good experience with the company.

This can be frustrating as a smaller brand because you could have better products/services and a greater customer experience, but you may struggle to attract customers because you are not as well known, and do not have the same resources or reach.

There are a few strategies to try, however, including the following.

Upgrade Your Company Website

The company website is often the first contact that you have with the target customer so you need to make sure it paints your company in a good light. It should be professionally designed, contain engaging and informative content and perform to a high standard. Choosing the right web hosting company is important and you can find the right one for your brand with research online, including by reading this Hostgator vs Bluehost review which compares two of the more popular hosts.

Promotions

One of the best ways to lure customers away from industry leaders is to run promotions. Brand loyalty fades when there is a good deal to take advantage of. These promotions can sometimes be costly to run but you should hopefully recoup the cost of a promotion with the extra customers that you attract.

Lower Prices

Similarly, people will always shop around and look for the most affordable product (provided that there are positive reviews). A slight reduction in your pricing will boost sales and help you attract new customers, which will hopefully help you to earn more despite selling for less.

Use Customer Reviews

Following this, you need to obtain as many positive reviews as possible and put them on highly visible spaces online. Customer reviews are one of the first things that people look for when deciding which company to use as they will want to see what other people’s experiences have been with the company before making a decision.

Offer Superior Customer Service

Sometimes, larger brands can struggle when it comes to customer service because the company is much larger and it can be harder to give every customer undivided attention. This is something that a smaller company needs to capitalize on so that they can develop a positive reputation, retain existing customers and also benefit from word-of-mouth marketing. Consumers want to feel important when they use a brand so you need to offer excellent customer service and make it easy for them to get in touch with you whether this is via live chat, social media, email or phone.

It can be frustrating to constantly lose out to the bigger brands when you are a small company but there are steps that you can take. Hopefully, these tips will help you to start competing with industry leaders and establish a bigger and better reputation for your brand.

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