Small Business vs. Large Business
Clementines vs. The Mighty Orange
Who doesn’t love a Clementine? As a distant cousin to the orange, they’re smaller, easier to peel, and sweeter. Clementines may share some family traits with the orange, such as color, nutritional value, and calories, but they are vastly different.
It is the same in the business world. All marketing efforts share similar goals like reaching a target market, tracking ROI, and effectively selling goods or services, but that is where the similarities end. Small business digital marketing relies on its own set of rules because it comes from a completely different fruit like the Clementine.
Small Business Classifications
We need to first qualify what determines a small business. Where is the line that defines a small business from big business? According to the SBA, size matters. Measuring the number of employees, annual revenue, and your company type determines your designation as a small business. Each industry has requirements for being classified as small. Your business must also be for-profit, independently owned and operated, and not “nationally dominant” in your field.
In most fields, the line for qualifying as a small business is having no more than $7.5 million to $38.5 million in average annual receipts. The number of employees varies anywhere from 100 to no more than 1,500 depending on your company’s classification. The standards can often be confusing to calculate. For instance, the difference between finfish fishing and shellfish fishing is $22 million to $6 million to remain a small business. However, other marine fishing is an $8 million minimum. How do you determine what “other marine” fishing is and what happens if you catch both?
Small Business Digital Marketing
Obviously, the number one factor that separates small business marketing from big business marketing is the number of dollars spent. Large corporations have the advantage of a budget that covers staffing, a creative team, and research. Often, corporate investors add to available funds, and deep pockets allow these businesses to hire celebrities or other influencers to build their brand.
Whereas businesses with large budgets can focus efforts on brand awareness, small business marketing must sell products or services and build their brand. However, small businesses have the advantage of being flexible. You can easily target your marketing to match current trends or quickly respond to critical issues like COVID-19. Because your brand is personal, your business becomes relatable. By investing in your local community through sponsorships, giveaways, and volunteering, you’re creating goodwill without a large cash outlay.
It is hard to build a relationship with customers when the target market is global. Small business digital marketing always keeps customer relationships in mind. It isn’t about the number of people you reach. It’s about finding your specific target market. Narrow your audience, and you will know the best marketing channel. Build brand loyalty through your online reputation and follow up in-store with the best customer service possible.
Big business often doesn’t have the opportunity to interact one-on-one with customers, but good marketing relies on two-way communication. Small businesses have an advantage because they can get customer feedback and quickly change course. Cater to your existing customers and find those who are would-be ambassadors to sell for you. Do your research, find your target niche, and build a relationship. The payoff will be loyal customers for many years to come.
Attract potential customers by selling the benefits of your products or services. Never focus on features only. Remember, potential customers, are asking, “What’s in it for me?” Give them a reason to take action, whether it is a personal offer based on earlier buying trends or lead magnets to continue contacting them.
Content marketing is a great tool that draws visitors to your website. Make sure you engage prospects with exciting articles that teach something useful. Use Youtube videos to delight viewers and build brand awareness. Maximize your SEO, so you rank for those top keywords that set your business apart. Keep your business listings up-to-date on free, local online directories.
Small business digital marketing is Caledon Virtual’s specialty. We excel in SEO, digital marketing, content writing, e-Commerce websites, and video production for small businesses. Whether you need to compete with some giants or just other small businesses, we can help.
Right now, sign up for 6 months of SEO, and we will design a new website for your business for 50% less than our regular fee. Or, if you are happy with your current website, sign up for 6-months of SEO and we will give you the 6th month free. Head into 2021 with a new site and search engine optimization to drive traffic and, ultimately, sales.
Contact us, and let’s get started building your small business!