Everyone loves an underdog—someone or something that’s expected to lose, but somehow pulls through in the end. For small local businesses standing up to big competitors, being seen as the underdog can serve as a valuable asset. It can help you create a strategic marketing strategy that resonates with local customers, and it can even promote a sense of purpose in your employees. So, how can small business owners take advantage of their underdog status and promote the growth of their business?
Build A Powerful Brand Narrative
Consumers tend to question the authenticity and reputability of small businesses. To prove your authenticity, stay connected with your customers on social media and build a powerful brand narrative that highlights your status as the underdog, but still demonstrates your competence in the industry.
Share relevant content on social media and ask customers to post online reviews to establish your reputability. Additionally, celebrate victories—no matter how small they appear to be—to reinforce your status as the local underdog. Regardless of the industry, prioritizing exceptional customer service can help you win over customers from bigger competitors.
However, not all underdogs are created equal, and it’s important to manage your brand narrative carefully. In some cases, customers view businesses in a disadvantaged position as incompetent and inexperienced. Make sure to frame your business as a worthy challenger from the start to establish your credibility in the industry.
Focus On Your Marketing Strategy
Whether you’re a start-up or an experienced business owner, finding creative marketing ideas to promote your small business can give you an edge over the competition.
Mobile geofencing marketing, which captures a business’s local audience using custom geofences to target by GPS coordinates, zip codes, cities, countries, and DMAs, helps small businesses increase sales by implementing advertisements based on their target audience’s exact location. Users participate in location targeting when programs or applications prompt them to share their location or when they allow a web service to use their location.
Geofencing ads are supported by Google Adwords, Facebook, and Instagram. Neither Facebook nor GoogleAdwords charges additional fees for geofencing ads, making geofencing ad campaigns a budget-friendly way to drive business. Geofencing ad campaigns can also be implemented across different forms of online ads, including search engine advertising, remarketing, and video advertising. Integrating geofencing into your marketing strategy can promote customer engagement, increase leads, and reduce customer acquisition costs.
Spend Wisely
If you’re a small business owner on a tight budget, it might be tempting to allocate the majority of your budget to marketing. But implementing affordable marketing techniques, like search engine optimization, geofencing, and word-of-mouth, and focusing on the infrastructure and day-to-day operations of your business can pay off more in the long run.
For example, investing in outdoor security cameras can deter shoplifting, prevent workplace harassment and violence, and reassure customers. When customers see outdoor security cameras in use, they’ll feel reassured that your business values safety and security.
Security cameras can also monitor employees and increase employee productivity. Since 42 percent of inventory shrinkage in retail businesses is caused by employee theft, installing security cameras can help ensure that your employees are honest, accurate, and productive.
With smart outdoor security systems from NewEgg, you can view live streams and recordings from anywhere. When you’re not at work, you’ll have peace of mind knowing that your business is running smoothly.
Underdogs show perseverance in the face of adversity and remain resilient, even when they fail. From Apple to Hewlett-Packard, brands with underdog narratives have grown successful due to their powerful customer appeal. All in all, building a strong brand narrative, implementing a powerful marketing strategy, and spending wisely can help your small business grow.
