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Ways To Prepare Your Business For Competing With Bigger Brands

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Beat big brands in business
Source - minutehack.com

Often it becomes difficult for the little fishes in the big sea to be heard or seen. Likewise, small businesses also face loads of troubles while competing with the bigger brands. But it is necessary to ensure that nothing can stop you from running a small business successfully. Small business owners also need to think that they are as valuable as the big business owners.

Even in the present time, when convenience dominates the markets of clients, it is possible for the small businesses to win clients. In fact, the drive towards shopping online can work in the favor of businesses, mainly in case the business is a brick and mortar shop. Besides, there are benefits to the experience of shopping that are conducted in person, which online retailers can never duplicate, no matter how much they attempt.

So, to prepare your business for competing with the bigger brands, you must start by challenging the conventional thinking and then living through the mentality of a fighter. If this is the thing in which you believe, never allow anyone to tell you that it is impossible to compete. Ignite your passion behind businesses and design a plan seriously, which will take you to the next level. Here you will find some tips that will help your small business to compete with the big companies.

Develop a brand

Make a brand name
Source – brandingstrategyinsider.com

As a small business owner, it is necessary for you to develop a brand. Your business will stand for your personal brand and this is also the way how your clients would recognize you. This is also the way to communicate with people and show representation for your brand. To do this, you can design a logo with your company colors and therefore can prepare a tagline for the things that you do the best. So, rather than considering yourself as a small enterprise with just a few products, consider yourself as one dynamic brand with loads to offer.

Serve a specific niche

Target Specific Niche
Source – inman.com

It is impossible to do everything for any small business. Big businesses mostly spread themselves thin as they have all the necessary resources. So, choose a niche and put the energy and focus to achieve the goals that you have. Identifying all the areas where you can offer the most can help you to break through all the barriers to challenge the bigger companies. In this case, your clients would notice your attractiveness and be ready to do more business with you.

Know about your competitors

Know about your competitors
Source – nevadasmallbusiness.com

One of the important steps that you should follow to compete with the bigger brands is to analyze your competitors. Even though big companies are daunting competitors, but they have some weaknesses too. So, analyzing the competitor big brands carefully will definitely assist you to identify the weaknesses as well as to figure out the strengths and how to respond to those.

There are actually numerous ways to perform a competitive analysis with loads of different templates and frameworks that are possible to use. Here are some steps that you can follow in this regard:

  • Learn about their target clients
  • List the pricing that they offer
  • Identify the competitive advantage
  • Itemize the marketing strategy of these big brands
  • Find out both their weaknesses and strengths.

Prepare a marketing strategy

Perfect Marketing Strategy
Source – onehourtranslation.com

Marketing is a vital pillar of any business. One place where small businesses can win is online. In case you are unaware of the things that you are doing, then hire any digital marketing agency to assist your small business in making it really big online. They would instruct you and will ensure visibility through SEM, social media and web design. You also should have a unique web presence to experience improved client engagement, constant growth, and higher conversion rates.

Network

social network - people and speech bubbles
Source – Huffingtonpost.com

You can’t expect impressive results from your business just by sitting behind the desk. Apart from making phone calls, it is also important to get out in your network and community with other business professionals. Besides, take part in different conferences, events, and speaking engagements. Arrange face-to-face interactions to let people know about you. Communicate with other small business owners about the struggles and know how they have overcome all the obstacles.

Deliver the best quality service

Best Quality Services
Source – bluelighthosting.com

It is possible for a small business to compete with all the big brands just by offering incomparable client service. This is one such place that the big businesses fail to execute properly and due to this reason they often lose clients. So, to compete with the bigger brands, you must highlight the one-on-one personalized client service that your business offers and how simple is to get a hold of it. Inform your clients and then let your activities speak for them.

Maintain agility

Maintain Agility in Business
Source – linkedin.com

Leverage the small size of your business and maintain agility.  Small businesses don’t have the red tape of the big businesses. So, when a small business owner finds that the business is headed in the wrong direction, he often makes a quick pivot without any negative impact. And this is much quicker than any large brand.

So, being a small business owner, you must tap the advantages of agility in the fields of market research, innovation, leverage of new and social media and marketing execution. So, make your efficiency the turbo fuel, which will enable you to make well thought out yet quick decisions. At the same time, develop methods, which actually reward fast decision making. Never feel afraid to take risks. Learn from each failure and success along the way.

Conclusion

So, operating a small business is really challenging. Being a difficult job, it is actually easy to get lost in the marketplace while competing in case you don’t follow the right methods. So, the tips mentioned above are really helpful in assisting the small business owners to compete with bigger brands and to put up a really strong fight. Remember that it is actually possible to coexist and compete comfortably with the bigger brands in case you can fulfill the needs of your own clients.

5 Tips and Marketing Ideas to Help You Build a Startup

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marketing strategy for startups
Source - cio.com

No business flourishes overnight and it takes years of hard work and patience to ensure that there is stability maintained despite the ups and downs that the business faces. When you start a business initially, things them to look like a jigsaw puzzle where you are to bring together the pieces bit by bit and put them in its right place. When it comes to bringing a business out in the open for people to know about it and opt for the services that you provide, there is the need to market or advertise the business extensively for people to find interest in it and accordingly building the client base.

When it comes to advertising or marking your business even before it has started to make profits, there is a lot of investment that goes into it. Not everyone can afford to do that and often look out for easier and feasible ways to promote and market the business to the world. Do so isn’t tough if you follow these tips that can bring about a huge difference.

Chalk out a budget and the target audience 

Target Audience in Marketing
Source – edkentmedia.com

As said earlier, not all businesses have the same amount of money to invest initially and therefore, depending on the budget that you set aside for branding you can make a choice. When it comes to marketing with a lesser amount, you can opt to advertise in local directories, free business listing websites, social media campaigns or simply spreading the word of mouth. For a comparatively higher budget, opting for advertising methods such as display banners, paid promotions, PPC techniques, etc. that are time bound can always be opted for to receive immediate results. Performing all such tasks can either be undertaken by you or outsource professionals who can guarantee effective results.

When it comes to the target audience, you cannot go about to random people and flash your business and its purpose especially when they aren’t interested in it or has nothing to do with it. You are to know the areas that are accessed by your target audience and then put things to action. If you intend to target the younger generation, putting up advertisements on Facebook and other social media websites is likely to garner attention for your business.

Utilize SEO and Content marketing strategies

SEO and Content Marketing
Source – visnetwork.com.au

The tools that the professionals specializing in SEO make use of to boost a particular business in the digital platform is something that is performed with the best strategies in mind. Taking help of keywords and putting it across search engines while garnering the audience to the business is something that is likely to bring about better virtual footfall to the business. Sharing write-ups on your business, images, and videos that allow people to know more about your business is what SEO strategies include and even more than that. When opting for PPC techniques to boost your marketing strategies, SEO adds to it while ensuring better client acquisition.

Make good use of the Social Media 

Use of social media in business marketing
Source – marketingland.com

Social Media is considered to be one of the most powerful marketing tools when put to good use. Making use of tools such as Facebook, Instagram or LinkedIn, things tend to come to the limelight. As most people spend a considerable amount of time by socializing on these social media websites, you are likely to gain a target audience based on their areas of interest. Whenever you plan to make use of social media to boost your presence, it is essential on your part to help people with information about your brand and the business that you intend to feature. Making innovative posts and adding innovative yet simple taglines is likely to help you garner attention from the people you intend to target.

Make use of paid searches that trigger your marketing efforts

Paid Search Marketing For Businesses
Source – searchengineland.com

It would require professionals who are trained and have relevant experience in performing such activities. While you opt for their services and want them to help you with paid searches to garner client base, you are likely to receive a better response. You are to come across keywords that are relevant to your business while getting to know the exact type of searches the audiences make. Tools such as Keyword explorer or probably Ahrefs can help out with coming across the exact keywords that would suit your business and how it can make things beneficial in the long term. You get to set up ads in accordance with the keywords and then watch how people come across your business and gain interest in all that you do with your business.

Keep a track on your marketing activities

Marketing Activity Tracking Tool
Source – bplans.com

By simply making use of marketing strategies and letting them like that don’t always help you. You put in an effort to ensure that the right strategies are used and not getting to know about the advancements is something that is unfair. No matter how many strategies you put to use and receive results from, there is this need to ensure that things are tracked well and necessary changes are made wherever necessary. There are tools such as SEMrush and Google Analytics that allow you to keep a track of all that you have opted for. Right from know about the number of clicks to your advertisements, the conversion of clicks to customers, the times when customers do not pay attention to what you have to convey them, etc. All of this allows you to analyze your marketing strategies and come up with newer and better ones that are likely to overpower the previous one. This is also known to seal your fate n whether your business would get a steady grip or not in the lives of the people.

While you make use of all possible resources and information, you get to know where to start from. While you set aside a particular amount of money, make use of the best strategies and give yourself the time to gain business rewards and nothing instantly as many find it to be.

Fashion Ecommerce Companies : The Future of Retail Sector

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eCommerce Business
Soruce - Huffingtonpost.com

Unlike earlier, people now are more fashion conscious. Gone are the days when only people belonging to the high society used to follow fashion trends. The wind of change in clothing and fashion is here. Now even middle-class people are fashion conscious. Thanks to the ever changing and vibrant fashion industry that has pinched the market by introducing stylish clothes at affordable prices.

Moreover, the purchasing power of the people has also improved with a double salaried family. But the shopping experience of men and women differ so much. When women like to relish and explore their shopping journey. Men are just the grab and go type shopper. Though different gender response to shopping in a different way, the truth is that fashion ecommerce has infected the life of everyone when it comes to shopping.

Fashion ecommerce companies are the not only the future of ecommerce domain but also has the capability to change the face of retail sector forever. With the advent of fashion ecommerce companies, the retail sector is witnessing growth which is predicted to further increase with time. Therefore, a massive growth of the retail sector has been foreseen if the online shopping spread its wings and more dominant. So, we can say that the future of retail sector lies in the hands of fashion ecommerce companies. Here are the reasons why!

Foray of Investors

Ecommerce Investor
Source – Yourstory.com

Witnessing the growth of fashion ecommerce, more and more investors are foraying into this domain. They are so confident about the growth of fashion ecommerce domain that they don’t give a second thought to invest. It has been noticed that shoppers have turned to online shopping instead of in-store shopping for buying clothes, accessories, and footwears. Lately, it is reported that the number of online shoppers has increased by 45 percent. Moreover, 64 percent of the shoppers prefer online availability of the products before going for in-store shopping. The signs are very positive and eyeing the immense growth prospects big investors are foraying into the fashion ecommerce field.

New Technologies      

Virtual Reality in E commerce
Source – Dixplore.com

The strongest drawback of online shopping is unable to try the products for size, touch and feel before buying. This repels most of the buyers from buying products online. Many buyers are reluctant to buy products online due to the hassle attached to returning and getting the refund if the products don’t fit them.  Therefore, the maximum number of buyers prefers store shopping in place the online purchase.  To cater this section of the shoppers, ecommerce companies are coming up with innovative technologies.

Technologies like augmented reality are being implemented by the ecommerce companies to provide shoppers a smoother and real shopping experience. Augmented reality enables the buyers to have a closer look and feel of the product before they cart them. The virtual 3D form of the products helps to visualize the buyers in terms of size, color, and fabric. Other technologies that are on the e verge of invading the fashion ecommerce are Virtual Reality, Internet of things in Fashion, and voice interface.

Social Relationship    

Social Media Relationships
Source – schneiderb.com

Sometimes it is necessary to take the ideas and suggestion of your friends and family while shopping. It might have happened many times with you when you get confused which color or style of cloth to buy. While shopping in the store or mall, you can accompany your friend or family to solve this issue for you. But in the case of online shopping, you get stuck if you are in doubt as online shopping doesn’t give the opportunity to take other’s suggestion.

However, ecommerce giants are working on to solve this issue. Recently, many ecommerce companies have introduced things like reviews, forums, Q&A pages, and user generated content. With all these additions, customers can interact with influencers and other customers to make a buying decision.

It has been reported that most of the buyers read the product reviews before purchasing a product online. According to a survey, in 2016, 84 percent of the buyers referred to product reviews just like a personal recommendation before buying a product.

Sharing Economy 

Sharing Economy
Source -nextjuggernaut.com

Many people stay away from shopping clothes due to the budget problem. Either they can’t afford expensive clothes or just don’t have disposable income to spend on shopping clothes and accessories. Therefore, to solve this problem and to reach even the low-income group of buyers, ecommerce company can use the concept of sharing economy. This concept allows the customers to rent dresses on the online marketplace.

This concept not only benefits customers but also ecommerce companies by reducing the hassle of logistics. Companies are also benefited by the reduction of return expenses and improvement in the sales.

So, the sharing economy is not only limited to the online cab booking giants like Uber and Ola, it can also be successfully implemented in the fashion ecommerce domain to fuel its growth and success. This a wakeup call for all the ecommerce companies who might be going through limited profit margin. Implement sharing economy concept and watch your business flourish like never before.

Social Media Touch

Social Media Touch
Source – soampli.com

Social media platforms are driving business and fuelling the growth of many companies. Nowadays, there are hardly any companies which don’t have a social media presence. It is such an effective marketing tool that every fashion ecommerce retailers are using a social media platform to drive the sale.

Social media is a great platform where shoppers can interact and discuss the products they are planning to buy. Even the ecommerce companies find it very easy to reach the target audience with help of social media platforms. The interactive and visual nature of social media platforms helps immensely to entice the prospective buyers.

Here are some other benefits of using social media platforms:

  • It is easy to start a campaign on the social media platforms. Advertising and marketing are less expensive in social media platforms compared to the conventional advertising and marketing techniques.
  • Social media messages have better chances of reaching the audience with multiple effects than other messaging techniques like TV, radio or newspaper.
  • Buyers find the platform easy and fast to interact with other buyers before making a buying decision.
  • Last but not the list, social media platform has great potential to bring organic traffic to the ecommerce websites.

Fashion is continuously evolving and making its strong presence in the global market. Currently, fashion ecommerce companies are enjoying the bigger pie of the market share. It is not wrong to say that fashion ecommerce is the future of retail growth as they are propelling and bringing the major chunk of business to the sector. As a fashion ecommerce company, you should also focus on the new technologies and advancement to drive a successful business venture.