Member Marco Marini Speaks: Take Advantage of Your Small Size
The case at hand was brought by the President of a consumer company selling products to offices. However, similar offerings from large e-tailers were squeezing the company. During an Alliance meeting, he sought advice to counter his larger competition from driving down price and stealing market share.
If you were in this situation, what would you do?
If I were in your shoes, I’d forget about competing on price. Instead, focus on the quality and personalization of your product – something the big guys simply can’t offer.
As the CEO of a marketing company, I spend my days thinking about how to get the right message across to drive enduring success. From my perspective, your robust connection to local, unique and high quality sources gives you a competitive advantage over the large e-tailers. You have two audiences to engage: the office manager who orders your products and the end user who benefits from them. Both of these groups are potentially receptive to a product that is carefully cultivated for quality and sustainability. Lead with that story through your branding and messaging.
Remember, attempting to compete on price with large e-tailers is a losing game in the long run. So, perhaps consider raising your prices to reflect the quality you offer. The same goes for your marketing touchpoints: push your quality and personalization to a level that larger organizations cannot achieve. Yes, the customer attrition you are experiencing right now is disheartening. Yet, the market for high quality products is growing daily both in the Bay Area and across the country. There is likely more than enough potential revenue there to drive growth for years to come.