Every company has to start somewhere, and often they have to start small. Here you are, slugging it out with the best of them, carving out your place in the industry. As you grow, the established players will start to take you seriously and even target your business. You will need to utilize every advantage you can to be competitive. There are several aspects you should focus on to stay competitive.
- Shipping Software
When you started in a small space, you probably had to do everything by yourself, but as the company grew, so did your staff, space, administrative, and logistics needs. A critical competitive edge in e-commerce is getting your product to the consumer quickly and cheaply. Consumers are more likely to buy from a company that can get the product to them fast, at low cost, and at any location.
Delivering a single product in your local area is simple, but as your product range and markets increase, so will the complexity of your shipping calculations. The cost of shipping includes factors like size, shape, weight, and shipping zones. Calculating how these factors affect the shipping costs for each order can be time-consuming. So look into getting an e-commerce order fulfillment shipping software to help you with the calculations.
Along with more straightforward calculations, you will also gain:
- Access to real-time shipping rates
- Have shipping options at your disposal at different speeds and from multiple carriers
- Access to preferential shipping rates (as much as 70 percent) available through the software
- You can purchase and print packaging labels from the software
- Digital Image
Digital marketing makes reaching the masses easier and cheaper. You no longer need to take expensive radio, TV, or newspaper ads to get your message out; you can now use digital channels. Everyone, including your target customers, is on the internet, and your business needs to be there too.
Investing in a website, app, and social media presence is relatively cheap. When you add digital advertising to your budget, it becomes an even more effective sales funnel. An online presence enables you to create a brand and personality among your target audience. To speak to them, you can create content in the form of blog posts, videos, podcasts, or social media posts. Using content, you can create targeted messages that will create a community around your company that traditional media can’t replicate.
With the tools available, creating slick, professional content isn’t as hard as it used to be. Some apps can help you build apps or websites without coding experience, like WordPress, which uses a simple drag and drop feature. You will also find image and video editing software that is as simple to use as your phone filters, like with Canva. You can also get free, quality stock images from websites like Pexels.
- Community Ties
An advantage that small businesses have over larger corporations is their proximity to the community. Small businesses can give back to the community through charity more directly than large companies. Creating these connections can be done in a variety of ways, including:
- Plan a day for your staff to volunteer or set up a toy drive
- Offer discount and free services to public community spaces or institutions, like the library, school, or park.
- Run workshops for small businesses. Not only will it be a networking event, but you will create goodwill among aspiring entrepreneurs.
- Provide sponsorship for local sports teams, theater productions, parades, and other community events.
- Unique Products/Services
A niche market is a segment of the larger market that has unique needs. Small businesses are usually nimble enough to take advantage of niche markets. This is because the larger companies are more focused on the broader market. You can base a niche market on values, hobbies, location, quality, or any distinct factor.
Tapping into a niche market requires insight and foresight. You may be an expert in the field who sees an underserved customer, or you may find it through data. Whatever the reason, a niche market exists, and you should enter it. It’s beneficial to your business because there is less competition, allows you to focus your resources, and helps you create brand loyalty in a customer base that feels seen.
Punch above your weight
Your size doesn’t mean you aren’t formidable. You can be successful by being nimble, thinking outside the box, and using small business technology to your advantage. You’ve come this far—you have further to go.