Learn Small Business
Marketing Lessons from
the Big Guys
You'll find some small business marketing lessons in the results of a recent survey. It seems search engine Google is now the most-recognized brand in the world. Now, one could argue the validity of the findings. After all, the survey was conducted by an online magazine, brandchannel.com. Still, there's no arguing that Google does rank high in brand recognition, whether truly in the number one spot or someplace nearby.
This information made me stop and think. Google is a relative newcomer as brands go, unlike Coca Cola or McDonald's, who have had years to build their brands. Also, whereas McDonald's or Coca Cola are spending big bucks to get a burger or cold drink into your hands, Google offers nothing tangible. In fact, for the most part, we're using their services without paying anything out of our own pocket.
I know that we, as small business owners, will most likely never be a Google (although it would be nice). Still, I think there are a few lessons that can be applied to a small business.
First, it doesn't always pay to be first. I and many others were still clunking along on other search engines before we ever knew Google existed. I think back to my early banking days, sitting in an upper management meeting, when everyone was lamenting another bank had beaten us to putting offices in groceries. This was the first in our market. Our CEO at the time was the only calm person as he said, "It doesn't always pay to be first. Let's wait and see what happens." I still recall his comment, because a few years later the bank that opened the grocery branches had lost money and closed them. In fact, that bank isn't even around anymore. When your competitor offers a new product or service, don't rush along behind them, offering the same thing and yelling "me too." Instead, take your time. Learn from their mistakes. Ask how you can offer a similar product, but give it greater value or do it better.
Second, the business with the most money doesn't always "win." The official corporate history on Google's web site tells of the early days (nearly a whole 10 years ago) when Google founders Larry Page and Sergey Brin were trying to launch their company. They decided to go it alone when they couldn't get the interest of major portal players of that time. They only needed "a little cash" to move out of their dorm and pay off credit cards maxed out from buying a terabyte of memory. Most small business owners, even if they have investors, don't have the marketing budget to compete dollar for dollar with their competition. That's why you have to "market smarter." Look for opportunities that will have an impact, yet cost little. For example, one of our large, local banks had been bought by a larger, out-of-town bank. Their data processing system took a step backward and service was terrible. The credit union I worked for took advantage of the situation by placing "Not for Sale" yard signs in front of our branches. Now, I'm not usually a big yard sign fan, because they can look tacky and get lost in the clutter. In this instance though, they worked beautifully, bringing in much new business from the bank's disgruntled customers.
Third, take advantage of the latest trends or happenings. Obviously, Google's success can be attributed to the Internet and technology boom. All small business owners would do well to realize the importance of the Internet. But capitalizing on "trends and happenings" can take many forms. I think of the clothing store owner who sends direct mail to all parents (with a discount) when a school uniform policy is implemented. The lawncare companies who see my dead lawn each year and offer to bring it back to life. The company that came around, offering to paint street numbers in front of our homes, when a new ordinance required it. These are all examples of alert small companies capitalizing on a situation to bring in business (although the lawncare people haven't been successful with me yet).
As small business owners, we may not have the large budgets. We can't always be first (nor do we always want to be). We do have flexibility that a large company doesn't. We can change directions quickly and take advantage of opportunities. We can learn from the successes or mistakes of those who blaze paths before us, and in turn offer a product or service that's even better. All it takes, before throwing another generic ad in the paper, is some time and thought to plan your smarter approach to marketing.