Published on January 2nd, 2018 | by Jose Vasquez0
5 Strategies for Startup Tech Companies to Compete With Big Brands
Startups often have trouble competing with big brands, but these strategies can help.
If you’re a startup entrepreneur with a business plan similar to one that’s already being leveraged by a big-name company, you’re probably worried about competition. Big companies have more resources, more money, and bigger audiences, so stepping into their turf can be challenging. Fortunately, startups also have advantages that no big business can touch, and if you learn to exploit them, you can walk away with the advantage:
- Get local. Local territories are less competitive and more relevant for startups. Make sure you get involved in local events, and spend some time optimizing for local search. You may not compete on a national level, but your state and city are yours.
- Aim for customer quality, not quantity. Instead of trying to build a massive customer base early on, focus on recruiting a handful of customers who are truly loyal to your platform. Their evangelism and brand loyalty will be far more valuable in the long run.
- Find non-monetary advantages. You probably won’t be able to compete on price or total presence, so find non-monetary ways to gain an advantage. For example, you might step up your customer service game or create a highly unique brand.
- Partner up. If you still have trouble getting the resources or reach necessary to improve your standing, consider partnering up with another startup, or even a bigger business to share resources and exchange ideas. The bigger your network is, the more you can function like a big business.
- Stay agile. The biggest weakness of big businesses is their inability to pivot quickly. Take advantage of that by staying agile, changing quickly in response to new market conditions and new opportunities.
Use these strategies to keep your startup competitive with even the biggest enterprises. If you need help getting started or want a free consultation on your current strategy, contact me today!