We’ve said it before and we’ll say it again; marketing is an essential aspect of any business, regardless of its size. However, small businesses and large corporations do have different marketing approaches. It wouldn’t make much sense for a small web development company to apply the same marketing strategy as a Fortune 500 company.
With that in mind, we’ve highlighted a few of the main differences in marketing between a small business and a large corporation.
Let’s get into it.
Target Audience
This may seem obvious, but one of the most significant differences between small business marketing and big corporate marketing is the target audience for each. Small businesses typically serve a more specific niche market (and smaller!), whereas corporations target a much broader audience, often globally.
Large corporations generally have a larger budget to play with when it comes to marketing, and their products or services are designed to appeal to a broader range of customers. Smaller businesses are more locally focused and generally offer more niche products and services that wouldn’t generally appeal to the masses.
Budget
Another key difference between small business marketing and corporate marketing is their respective budgets, as we’ve mentioned above. Small businesses typically have limited resources and cannot afford to spend as much on marketing as large corporations. This means that small businesses have to be creative in their marketing strategies and find cost-effective ways to reach their target audience.
In contrast, large corporations have more money to invest in marketing campaigns, which allows them to create more elaborate and sophisticated marketing strategies. Again, the target audience also plays a role here. Some consumers might prefer a small business’s creative, quirky ad campaign to the large corporate in-your-face kind of marketing.
Brand Awareness
Brand awareness is crucial for any business, and small businesses and large corporations approach this differently. Small businesses typically focus on building local brand awareness through word-of-mouth, networking events, and community involvement. This approach can be highly effective in building a loyal customer base.
Large corporations, however, focus on building a global brand presence, which requires a massive marketing budget and an elaborate branding strategy.
Marketing Channels
Small businesses and large corporations also use different marketing channels to reach their target audience, although there can be some crossover here.
Small businesses typically rely on traditional marketing channels such as print ads and flyers, as well as the more recent boom of social media to reach their audience. There is something to be said about the younger generations preferring social media to any analogue.
Large corporations have a more extensive marketing arsenal and can use a wide range of channels, including television, radio, and online advertising.
Personalization
Small businesses often have an advantage over large corporations in that they can offer a more personalized customer experience. They can build relationships with their customers and tailor their marketing efforts to their specific needs, which is something a large corporation company will struggle to do.
Large corporations have to appeal to a broad audience, which makes it difficult to personalize their marketing efforts.
Are you a small business owner? Have you found your marketing experience to be hard and tiresome, or have you thrived in that space? We’d love to hear from you, and possibly help you if you’re struggling!