Do small businesses have advantages over large businesses? According to Gail Goodman, the CEO of Constant Contact, they do indeed.
First off, it is easier to build personal relationships with customers at small businesses, making it more likely to build intimate long term relationships. Large businesses often struggle to pull of the “small business vibe” that some customers prefer.
Second, market research can be easier for small businesses, as well as less expensive. One reason is because small businesses do not need to hire many specialists to gauge what the customer experience is, and what their needs are. Small businesses can simply just ask customers what they want.
It is crucial that small businesses continue to nurture and strengthen relationships with customers in order to retain their competitive advantage.
For time -strapped small business owners, there are services such as Hubspot and Constant Contact that can help streamline social media. You can also start a blog in order to garner more awareness about your business! 😉
Her final advice was to “stay focused,” and “start small and build from there.”
What do you think some other advantages small businesses have over larger ones?
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Image credit: Iryna Yeroshko/Flickr4528323
Are you a small business owner? How can you differentiate yourself from the competition? It turns out that companies with a strong sense of purpose and social responsibility can set you apart. CEO Denise Morrison of Campbell Soup Co. gives her thoughts on the matter.
1. Define the purpose and pin it on beliefs that will set the brand apart from competitors.
2. Link your purpose and beliefs with social responsibility.
3. Connect the company’s purpose and ideals to business strategies to drive growth.
She summarized her thoughts as follows; “Make a profit and a difference. It’s a winning recipe for growth.”
What do you think? Please comment! 🙂