Entering the market flooded by well-known companies is quite a challenge. Yet, not for those who know the market rules and turn them into their advantage. If you’ve founded a startup and aren’t quite sure how to make a way among your renowned competitors, you’ve got to the right article. There’s something you can do. Let’s take a look at how startups can compete with big companies.
Create strong positioning
So why should customers choose your brand? Understand what you offer and who you offer it to. If you don’t see what is so special about you, believe me, your clients won’t see either.
What you really need is a precise and catching positioning. It can be challenging for a small company, but here are some practical tips to start with:
- Study your clients. Make short interviews with your clients. Outline your Ideal Customer Profile. Here’s a simple guide to help you move with it. You need to understand what made them choose you over the big guy. Gather all the answers into one pool and outline your strong sides.
- Learn your competitors. Conduct research of your 10-15 nearest competitors. Examine everything they offer: their services, USPs, clients’ reviews (don’t forget about negative ones, you can overrun them here). Think about your niche. It can be either wide or super narrow. Our reality creates new opportunities for new niches. You always can try to make the most of the situation. In the wake of Coronavirus, there are also new directions and…