Watch CBS News

Be Daring: Make Your Small Business Stand Out From The Competition

In today's hyper-competitive marketplace, small business owners need more than just a quality product and a lot of passion to succeed. They need to be daring to stand out from the pack so they can form meaningful connections with consumers. While there are several different avenues brands can take to reach out to today's always connected, highly informed customers, here are few tips that will help get you off on the right track.

Find Your Unique and Shout It From the Hills

No matter what industry your company operates in or how many competitors you have, there's something intrinsic about your business that makes it unique. As an owner, it's your responsibility to find out what makes your firm different from everybody else and to make consumers aware of that difference at every opportunity. Maybe your company uses more ecologically sustainable methods of manufacture and distribution than your biggest rivals. Or maybe company's diverse brain trust has a new approach to address an age-old consumer need that sets it apart from the rest of the marketplace. Or perhaps your brand takes an irreverent approach toward its marketing, branding and office layout whereas the rest of your industry makes it a point to be as respect the ball as possible. Whatever your company's most idiomatic aspect, it needs to be front and center in all of your marketing efforts if want your brand to get noticed.

Start Making Videos

Most small business owners don't have the money to pay for a large TV or print ad campaigns; they do have the resources to create a fun and creative video showcasing their companies. The rise of social media platforms like Facebook, Instagram and YouTube have made it possible for small businesses to introduce their brand, their products and what makes them unique to an audience of millions for pennies on the dollar. And since consumers' value authenticity over polish, owners don't need to worry about renting expensive equipment or high end production facilities to make a viral video; they just need a smartphone, and enough confidence in themselves to venture into unfamiliar territory.

Get Personal on Social Media

Because they want to cultivate a sense of professionalism for their brands, many burgeoning entrepreneurs will choose to project a somewhat impersonal image on their social media feeds. While establishing their bona fides with consumers is essential for small businesses, owners should be wary of coming off as too detached. That can read as disingenuous to individual customers and since its becoming increasingly common for people to perform a social media background check on a business before interacting with it, that quality could have negative financial consequences. Ideally, a small business owner's social media presence should be approachable, measured, responsive and, most importantly, genuinely reflective of their personality. If being open on social media takes you out of your comfort zone, remember that fortune favors the bold.

Make Your Cause a Part of Your Brand

While the notion may be uncomfortable for some, the truth is in the current market paradigm is more politicized than ever before. However, instead of striving to be as apolitical as possible, smaller firms should broadcast their social values to consumers. Millennials, which now make up the largest demographic in the US workforce, place a high value on interacting with brands that have strong social values kids. As such, you should make whatever cause you're passionate about, be it the environment, giving back to the community or supporting America's Armed Forces, a big part of your brand's identity. It'll pay significant long-term dividends regarding consumer loyalty.

Mario McKellop is a freelance writer who has covered the pop culture beat since 2010.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.