David and Goliath battles are more about common sense than anything else.
If you’re in a small business that wants to take on the big guns successfully, you need to exploit the failings of bigger businesses and capitalise on any openings – and competing on price is not the answer because big business will win hands down every time.
Follow these 8 marketing strategy tips to take on Goliath:
1. DON’T MAKE A FULL-FRONTAL ATTACK.
Goliath is bigger than you.
If you attack him full-frontal he’s going to roll right over the top of you.
It will almost certainly be a costly exercise (especially for you) – and potentially a disastrous one as well.
He has more money than you. He has more resources than you and he has more to lose than you.
You need to expect a reaction.
2. DON’T COPY.
You cannot win by copying Goliath. You can only exploit Goliath’s weaknesses.
3. FIND THE HOLES.
The bigger Goliath is, the more holes appear in the business armoury. Holes are exactly that – they are small areas of weakness, just waiting for David to target. If you are going to tackle Goliath, find and tackle a hole. Keep your focus narrow and on the hole and don’t let go.
4. DON’T COMPETE ON PRICE.
Don’t go in on a price lead. Goliath has deeper pockets than you and could wipe you out financially.
5. SERVICE A NICHE MARKET.
Look for uncontested areas. Often larger players cannot service niche markets.
Deploy a niche marketing strategy.
Look for areas where the cost of servicing the niche outweighs any financial benefit to the larger player (bearing in mind that the bigger you are, typically the greater your cost base and the greater the need to mass-produce to create efficiency).
Find a niche market that is small enough to defend.
6. KEEP QUIET!
Don’t tell anyone what you are doing. All it does is alert your competitors to the game plan. Do not say anything and move quickly. Surprise is the name of the game. There will be plenty of time to brag later.
7. BE A LEADER BUT DON’T BEHAVE LIKE ONE.
Become a leader in your part of the market but don’t get complacent and behave like one. If you do, just as you took from someone, someone else will take from you.
8. TAKE CONTROL AT THE TOP.
Keep decision making away from the committees. You want one person (preferably at the top) directing the plan of attack. Be the general – direct your troops.