In recent years, corporate giants like Amazon and Walmart have been rapidly expanding. From Amazon’s purchase of Whole Foods to Walmart breaking into the grocery delivery industry, many brick-and-mortar businesses have been losing customers to the big guys.
Understandably, these recent trends have left many small business owners feeling fearful. How can a mom and pop shop compete with a retail behemoth? Luckily, some effective strategies can help.
Keep reading for solutions and tools that will help your business compete with major rivals, regardless of your size or industry:
Boss Up Your Web Presence
First things first, you’ll need an engaging, well-designed website, which will help leads find your company online and, ideally, convert them to paid customers. Because you only have a few seconds to make a first impression, it’s essential that your website looks professional, clearly explains what you do, and helps guide people toward making a purchase.
To ensure your website and your business are ultimately successful, it’s a good idea to hire a web designer rather than trying to build one yourself. Although there is a time and place for DIY, this is one instance where you’re better off hiring a pro. When it comes to finding the right person for the job, Upwork says the best web designer on the market is someone with an eye for design, strong UI and basic UX design skills, and experience with multiple web platforms. This person should also communicate well with your team to deliver what your website needs.
Have a Mentor
Even when you run your own business, it still pays to have a trusted mentor. Try to find an experienced entrepreneur, executive, or professional who works in your industry. Ideally, you should choose someone who’s run their own business for years, has been successful, and is willing to share their advice.
If you’re having trouble finding a mentor, don’t worry. Some excellent resources can help. For instance, SCORE is a nonprofit organization providing free business mentoring to entrepreneurs and aspiring business owners across the country. A quick Google search will help you find your local chapter.
Narrow Your Niche
Every solid business idea needs to target the right people. One way to do this is by narrowing your focus. That’s where your niche comes into play. A niche is a small group of people you’re trying to reach within your target market. Typically, you’ll offer these customers a product or service that stands out from the competition. For instance, you might find a product or service Amazon doesn’t provide, or provide that service in a more delightful way.
Rather than worrying about ideal clients, age ranges, and demographics, professional business coach, Rebecca Tracey, says focus on providing effective solutions to people’s problems. “When you can focus on the problem that you help people with,” Tracy says, “you [begin] to understand where to find your clients [and] you can work to create great packages and programs just for them.” Sometimes, it really can be that simple.
Top-notch Customer Service
Here’s one final tip as you prepare to compete against the retail giants. According to Forbes, you should “offer exceptional, personalized service.” It’s okay if your selection isn’t as broad or your prices aren’t as low as the big guys. Your ability to customize your buyers’ experience will make you memorable. By taking care of their needs with friendly, knowledgeable customer service that goes the extra mile, you’ll set yourself apart from the competition.
Whether you’re new or have run a small business for several years, you can still stay a step ahead of the competition. By having a professional website, marketing to the right folks, and ensuring quality customer care, you’ll stand out from major companies like Amazon and Walmart. Stay focused, know your strengths, and you’ll learn to thrive regardless of what you’re competitors are up to.
