Achieving Local Dominance: For the past 14 years, our company has had the privilege of collaborating with some of the world’s most renowned Big Brands and Agencies. This unique vantage point, operating behind the scenes with industry giants, has provided us with insights and experiences of effective marketing tactics at the highest level.
More importantly, it’s given us the expertise to distill these strategies, refining them to cater specifically to the needs of small and mid-sized local businesses. We believe in the power of local enterprises, and with the knowledge we learned from the pros, we’re on a mission to elevate their presence and influence in their respective markets.
Big brands often employ a mix of marketing techniques and strategies to dominate it’s competition, many of which can be adapted by small and mid-sized businesses for effectiveness. Here are 6 techniques along with solutions for smaller budgets and businesses like yours.
1. Multi-Channel Advertising: Achieving Local Dominance
Big brands use multi-channel advertising across TV, radio, online platforms, billboards, and more.
Solution for Small & Mid-Sized Businesses:
- Instead of splurging on expensive TV or radio ads, focus on online platforms. Facebook, Instagram, Google Ads, and other platforms allow for local targeting.
- Use organic social media to engage with the local community. Share local news, participate in local trends, and collaborate with other local businesses.
- Leverage free platforms like Google My Business, Yelp, and Bing to get local search traffic.
2. Event Sponsorship and Participation
Big brands often sponsor large events or sports teams to gain visibility.
Solution for Small & Mid-Sized Businesses:
- Sponsor small local events or community gatherings. This can be in the form of products, services, or even volunteering.
- Host events or workshops in your store or office. This can bring people in and also position you as an expert in your field.
3. Loyalty Programs: Achieving Local Dominance
Big brands have loyalty cards, apps, or reward systems to keep customers coming back. Achieving local dominance with some sort of loyalty program can differentiate you from your competition.
Solution for Small & Mid-Sized Businesses:
- Start a simple loyalty stamp card. For instance, buy 9 coffees, get the 10th free.
- Use email marketing to offer discounts to repeat customers. Platforms like Mailchimp are cost-effective and have free tiers.
- Offer referral discounts is another method that works for the right type of businesses.
4. Influencer Partnerships: Achieving Local Dominance
Large companies pay influencers big money to promote their products or services.
Solution for Small & Mid-Sized Businesses:
- Partner with local micro-influencers. They have smaller, but more engaged audiences, and often charge less or will even work in exchange for free products or services.
- Encourage happy customers to leave reviews and share on their social media. Word-of-mouth, especially online, is powerful.
5. Advanced Data Analytics
Big brands use complex data analytics to understand customer behavior and optimize marketing strategies.
Solution for Small & Mid-Sized Businesses:
- Use free or inexpensive tools like Google Analytics for your website.
- Analyze your sales data to see when customers buy and what products or services are most popular. Use this data to offer timely promotions or bundles.
- Do simple surveys among customers to understand their preferences and pain points.
6. Personalization
Big brands often use personalization in their email marketing campaigns or websites to tailor the user experience.
Solution for Small & Mid-Sized Businesses:
- Segment your email list. For example, you could send different emails to repeat customers vs. one-time buyers.
- Use a personal touch. As a smaller business, you can actually build genuine relationships with your customers, something that big brands struggle with. Recognize birthdays, celebrate local events, or even just learn and use first names.
By scaling and adapting these big brand strategies to the local level and the resources available, small and mid-sized businesses can achieve a competitive advantage in their markets.
Remember, every marketing agency is different, so it’s crucial to choose one that understands your business. An experienced agency will be able to tailor their services to your needs but also have a deep understanding for the FOUNDATION marketing strategies to achieve results like the big brands.
