You see your dreams slipping away as your competitors with better cash flow gain more customers while your company slowly fades away. But before you raise the white flag and quit altogether, know that you CAN compete even if you are small and have a limited budget.

Your dreams can come true; all it takes is your time and a little creativity.

The Power of Your Story

As the founder of your small business, you are in a unique position to personally connect with customers by sharing your story. Your story also helps to set you apart from the competition. We’ve all had someone tell us to just be ourselves, and it’s also a valuable trait in business. You may not be accustomed to talking about yourself, but in this instance, modesty is not the best policy.

Today’s customer values authenticity in the companies they buy from. They want to know the real you, form a relationship with a company they can identify with and one who shares similar values. While product features are important, what customers really want to know is:

Who are you and what you can do that your competitors can’t?

Help customers identify with you by sharing your values, passions, as well as any hurdles you’ve overcome in business and in life. Any ties your business has to the community where you’re located or a cause you’re involved with are a plus. You can show that you’re more than just another business out to make money.

The goal is to leave a lasting and favorable impression in your customers’ minds. It’s not about being the same as your competitors; it’s about being different. Focus on what is unique about you, your product or service and how you alone are the answer to your customers needs. 

What is your special something?

Be Proud of Your Strengths but Humble of Your Weaknesses

You may think you know what they are, but it’s your customers’ point of view that counts. If you’re not sure, post a survey on your website or send a feedback form to customers after they’ve made a purchase. The results will help you pinpoint your strengths and weaknesses.

Needless to say, emphasize your strengths and address any weaknesses. Focus on the areas that are mentioned the most. Even your weaknesses can be used to connect with customers when you tell how you listened to customer feedback, made changes to resolve the problem and how it’s improved your business.

Does the positive feedback point to an area that will help you stand out and give you a competitive edge? Focus on creating a niche in this area and become the go-to source for it. Specializing in this area can be the key to your success.

How can your unique strength give you a competitive edge?

As a small business, you have a distinct advantage of being able to pivot quickly and change while big businesses often find change difficult to implement. They also don’t have your ability to specialize. With numerous products and services to sell, salespeople can have difficulty knowing the subtle details of every product. You will now be in the position to provide customers with an experience they can’t get anywhere else.

Don’t be one of the masses. Be the leader.

Get Ready to Shine

Now that you’ve defined who you are and how you will set yourself apart from the competition, it’s time to get the word out. Many small business owners make the mistake of thinking that the only way to make sales is to sell to “everyone.” The fear of missing out on a customer causes this “spray and pray” mentality. Unfortunately, the end result is often a depleted budget with nothing tangible to show for it. You’ll get a better ROI when you target only those customers who are most likely to make a purchase from you.

Avoid the spray and pray approach.

The internet is often the first place customers go to get help so you should consider your company website to be your online storefront. First impressions are critical as you only have a few seconds to quickly convey who you are. You need to clearly show what benefits customers will enjoy when they do business with you that they can’t get from a competitor. All of your work so far should be incorporated into your website copy as part of a buyer experience built around your target customer.

If you’re short on advertising dollars, content marketing is a cost effective alternative. It uses the power of the written word to attract, acquire, and engage a clearly defined target customer. There are several methods of content marketing you can employ. Company blogs, email, social media and your website copy are some examples.

Just remember that whatever form of content marketing you employ, quality and consistency are crucial so customers get to know, remember and get accustomed to your company. If you need help with this, a content marketer who specializes in helping small businesses can be a valuable investment and can still cost less than traditional forms of advertising.

If you are a local business, your current customers can help promote your company. A company listing on review sites such as Angie’s List and Yelp is becoming essential. Not only does it help boost customer trust, it can also improve your local SEO. If you aren’t on any review sites yet, sign up for a free listing. Then ask your customers to leave their feedback.

Make Them Smile

Make every touch point with your company reinforce who you are and provide a memorable experience for customers. Nurture them in order to foster positive associations with you and treat each one as a valued asset. Let them know you will always be there to help and you’ll see customer retention improve. The individual attention you give each customer will give you an advantage over big businesses, leading to more new and repeat customers.

Make it your goal to always exceed customer expectations.

While larger competitors can always outspend you, as a small business owner, you can uniquely position your business to compete against them without having their budget. There are many additional ways you can make your business more competitive than what I’ve described here. You are only limited by your imagination! In the comments section, let me know how your small business stays competitive.

To reach this influential group think two words – relationship and community. Those two words sum up what it is they’re looking for from your company and brand. While they may prefer the impersonal text message instead of face to face communication, they long to have a connection with the brands they care about.

When thinking of how to build a relationship with Millenials, think of how you would form a relationship with anyone in your life; what they would want to know about you, your values as well as what they would appreciate about you. No one likes someone who is pushy, brags about how great they are and isn’t interested in what is important in your life. Be careful your messaging doesn’t take this approach as this is precisely the wrong message to send to Millenials.

Millenials can see through anything that is overly commercial or that hints of being anything less than authentic. Boasting claims about how great your product or service is? You better be able to back those claims up because Millenials are highly educated and will research your claims before deciding to purchase. If you’re not completely truthful, they’ll broadcast it on social media.

Don’t try to be something you’re not or be swayed by what your competitors do because you think you need to be like them. Millenials want to experience the real you and how your differences resonate with them. So rule number one is, be authentic. You get one chance to make a great impression, so make sure the first impression Millenials experience with your brand is a favorable and memorable one. They will want to know what’s in it for them and you need to provide it.

Millenials are fans of online shopping, due in no small part to being the first generation to grow up with technology. They are heavy users of mobile devices to shop, research prices and get recommendations from their friends. They’ll pay for quality but would much prefer to get quality at a good deal and if you offer free shipping, even better.

If you haven’t updated your website, what are you waiting for? That circa 2000, out of style website won’t cut it with Millenials and you’re losing customers because of it. You need to look your best, and with mobile device shopping now equaling desktop shopping, a mobile friendly website is a must have.

Your website should have a clean design, without over embellishment and be easy to navigate. Stand out from your competitors and show how your brand is the best match for their needs. Don’t forget the impression your sales staff and customer service have on your customers. They’re like your family and are a reflection of your company. Every touch point Millenials have with your brand should reinforce the positive feelings and message they get when they interact with you.

Your values are very important in any relationship and this goes for relating with Millenials as well. They want to be valued as an individual and not one of many. Hence, they can be skeptical of big box retailers, instead preferring smaller niche brands. They want to know that their opinions are valued by you and that you understand what their problems and needs are.

Your job is to clearly show how your product can help them and make them feel good at the same time. They want to trust you, but you have to earn it. The opinions of their friends has an influence on whether to trust your brand or not. Loyalty programs add additional value to their purchase, so it’s not just about the price but about the experience of being a part of your brand.

What is the human element of your brand?  What does your brand or product stand for? Do you give back to the community, use environmentally friendly products or locally sourced goods and materials? Communicate in a language they can understand, be real and hold their hand as you listen and solve their problems.

We all want to experience a connection and feel like we matter. This is very true of the Millenial group. Think of them as many small tribes with diverse interests looking for someone to lead them. They want to be part of something and want to be heard so invite them in and listen to what they have to say. Listen in on social media and find out not only what they’re saying about your brand but what problems they need to have solved. Make them feel included by letting them co-create your brand experiences.

Listen to and respond to their feedback. You can show them you care by posting photos of them interacting with your brand and products. The goal should be to create a one-on-one or small community connection through the use of meaningful, useful and shareable experiences.

The foundation for communicating with Millenials should be based on content marketingthat is relevant, engaging, authentic and shareable through the use of customer events, social media, e-mail and blogging. It’s important to be aware of which social media platforms and devices your customers are using in order for your message to reach them at the right place at the right time. The much quoted dating phrase, “When you’re not looking you’ll find it” does not apply here.