There are huge benefit to having your business become well-known in a specific location. Not only do potential customers feel loyalty to a brand that is strongly associated with where they’re from, but also people love to support a homegrown company as part of the local economy.
Getting your brand established in a small area with little to no direct competition poses no difficulty for the savvy entrepreneur. However doing so in a massive, saturated market is another thing entirely.
So how does a business owner based in a large metropolitan area stand out from the crowd and win over the local clientele?
Don’t Forget About Traditional Advertising
In a marketing climate that’s totally dominated by digital mechanisms, it’s very easy to forget about traditional advertising techniques. They still have an important role to play when establishing your brand. This is especially true in a locale where you are one of a vast number of brands competing for a slice of the pie.
In a 2016 study published by Nielsen, 15% more consumers indicated that they trust a television advertisement over an online counterpart.
Even more telling is a Marketing Sherpa study. This study produced clear evidence that the five most-trusted advertising formats all comprise of traditional media.
Enter a Sub-Niche and Do It Well
When creating content about your company and its products, understand the importance of differentiation. In a saturated marketplace, few things are as important as your potential customers being able to easily see that you are different from your competitors.
This doesn’t necessarily just translate into the content and tone of your marketing campaigns. It can also filter down to products or services.
This isn’t a hard pivot. Rather, it is keeping your eyes open for realistic diversification. This is so you can take advantage of a more granular gap in the market you are playing in.
For example, a boutique retailer servicing a large area with many competitors may find it extremely beneficial to research which stock is not carried by nearby competition. That boutique can then acquire said inventory and hit this acquisition hard in their marketing material.
Get Expert Guidance
Advertising agencies exist for a reason, and it’s the same reason that your profession exists: You are better at it than other people. A few self-researched marketing hacks will never result in the same level of growth as a campaign designed and implemented by professionals.
The wealth of knowledge, experience, and insight that an advertising agency brings to the table can be key to the success of a business that is attempting to establish itself in a challenging geographic space. A properly planned out strategy is far more likely to result in success than something planned by individuals unfamiliar with the nuances of the industry.
A number of exceptional New York City advertising agencies will be happy to consult with a motivated client, eager to pursue the most likely route to success.
Know the Importance of Customer Service
Acquiring a new customer is five times more expensive than retaining an old one. This is an astonishing statistic that many entrepreneurs pay insufficient attention to. It makes financial sense to ensure that customers are constantly delighted with your service, for the simple fact that it may bankrupt you to replace the customers you lost for an entirely new batch.
Also, remember that a customer who has had a complaint expertly resolved not only re-invests their loyalty in the brand, but is also extremely likely to discuss their positive experience with other potential customers in their personal and professional network.