Business Education

Independent Service Providers are Being Acquired and Local Businesses Can Use this Practice to Their Advantage

Did you know your local service providers may not actually be part of an independent, small business? That’s right. The plumber you’ve called before, the electrician you’ve seen working down the street, or even the HVAC tech who has been at your neighbor’s house. While you may recognize their names and logos and think they’re a mom-and-pop organization, they very well be working for a large corporation.

For people in the trades, this isn’t news. They’ve known about this for some time. It goes back to the COVID shutdowns when conglomerates realized the true value of “essential” services. These megacorporations recognized the potential earning power of local service providers and began to quietly acquire them. In order to maximize these new assets, the conglomerates allowed them to keep their existing names. But, when people call what they believe is their local service provider, they are really talking to a call center in another state or country.

While many independent, small businesses use call centers, the difference is the technicians working for the acquisitions are no longer just trade professionals – they are now salespeople who push additional products and services. The individuals employed by these bought-out companies take the opportunity of their visits to upsell and their customers aren’t aware the familiar mom-and-pop business does not directly employ them. But, it’s not just the fact that these companies are ostensible fronts for selling additional products and services to increase profits for big corporations. It’s also the fact that legitimate small businesses must compete for the same customers.

How Independent Businesses Can Take Advantage of Conglomerates Acquiring Competitors to Better Market Themselves

Although it may be discouraging to compete against other companies backed by such deep pockets, there are some benefits you as a small business owner can tap into and use to grow your customer base. Yep, small, local businesses can use this trend to their advantage by emphasizing their authenticity and commitment to the community in their marketing efforts. Here are some strategies they can use you can copy in your own community:

Highlight your local ownership. Emphasize your business is locally owned and operated by community members who are invested in the area. This can be done through website content, social media posts, and even in-store signage. Also, any vehicles, uniforms, and equipment.
Engage with the community. Participate in local events, sponsor community initiatives, and collaborate with other local businesses to demonstrate your commitment to the community. This helps build trust and loyalty among local customers.
Personalize your marketing. Use personalized marketing strategies, such as email campaigns, to connect with customers on a more personal level. Share the stories of vendors, employees, and customers to create a sense of community and belonging.
Offer unique, local products or services. Highlight any unique products or services that are specific to your local area or that cater to the needs of the community. This can help differentiate your business from larger corporations and attract customers who value local products and services.
Leverage online reviews and testimonials. Encourage satisfied customers to leave positive reviews on platforms like Google, Yelp, or social media. Share these reviews in marketing materials to showcase your support of the local community.
Maintain a strong online presence. Ensure your business has a well-optimized website, active social media accounts, and accurate listings on local directories and review sites. This helps potential customers find your business and learn more about its local roots and commitment to the community.
Offer superior customer service. Small businesses can often provide a more personalized and attentive customer experience compared to larger corporations. Emphasize this in your marketing materials and strive to consistently deliver exceptional service to build a loyal customer base.

By focusing on local roots, community involvement, and personalized service, small businesses like yours can effectively differentiate themselves from larger corporations and attract customers who value authenticity and local connections.

Want to Accomplish More?

Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do?

We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test.

You can call us for your free appointment at (602) 541-1760, or, if you prefer, Waters Business Consulting Group to learn more about us and the services we offer.

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Custer’s Last Stand, the Dade Massacre, and Your Business

January 10, 2025 No Comments

Small business owners often wear many hats, juggling the roles of visionary, manager, marketer, and more. While confidence is a crucial trait for any entrepreneur, unchecked arrogance and overconfidence can lead to a series of missteps that can threaten the very survival of a business.

What Is Influencer Marketing and How Can It Help Small Businesses on Small Budgets

March 1, 2024 No Comments

What Is Influencer Marketing and How Can It Help Small Businesses on Small Budgets? Influencer marketing has become an essential part of the marketing landscape in recent years. It’s a powerful marketing approach that allows businesses to reach their target audience in a uniquely authentic way. So, read on and we’ll take a few moments to explore what influencer marketing is and how it can help small businesses on small budgets. What Is Influencer Marketing? Influencer marketing is a form of marketing where brands partner with influential individuals to promote their products or services. Most of the time, these influencers have a significant following on social media platforms and can help businesses reach their target audience more effectively. However, influencers aren’t just found among such individuals – they are also everyday people. Influencer marketing can take many forms, from sponsored posts to product reviews and giveaways. The key to successful influencer marketing is to find the right influencers for your brand and to build a relationship with them. In other words, someone who is a respected member of your community and someone who others trust. So, just about anyone with a good reputation who is also outgoing. For instance, volunteer coaches for kids’ sports leagues, parishioners in a church, individuals who perform residential services, and so on. You likely know one or two, perhaps three or more people who fit this description. They’re well-liked, trustworthy, and have a good rapport with others. How Can Influencer Marketing Help Small Businesses on Small Budgets? Influencer marketing may sound super-expensive, but it can also be an affordable and effective way for small businesses to reach their target audience. You just have to know what you’re looking for and how to go about it smartly. So, here are some ways that influencer marketing can help small businesses on small budgets: Reach a targeted audience. By partnering with influencers who have a following in your niche, you can reach a highly targeted audience. This can be more effective than traditional advertising methods, which can be expensive and may not reach your target audience. Build brand awareness. Influencer marketing can help you build brand awareness by getting your products or services in front of a new audience. This can be especially helpful for small businesses that are just starting out and need to build a following. Boost credibility. When an influencer promotes your product or service, it can help to boost your credibility. This is because their followers trust their recommendations and are more likely to try your product or service if they see that the influencer has endorsed it. Cost-effective. Influencer marketing can be a cost-effective way to reach your target audience. Many influencers are willing to work with small businesses on small budgets, and the return on investment can be significant. Overall, influencer marketing is a powerful tool that can help small businesses on small budgets reach their target audience, build brand awareness, and boost credibility. By partnering with the right influencers and building a relationship with them, small businesses can see significant returns on their investment. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

How to Spot Bad Business Ideas to Avoid Wasting Precious Time

April 19, 2018 No Comments

Whether you’re running a business currently or looking for a business idea to get started, you definitely want to avoid bad scenarios. While there are stories of companies defying the odds and becoming successful, these are few and far between. The reality is the majority of new businesses fail. (Or established businesses trying something new that ultimately fails — think New Coke.) How to Develop Good Business Ideas Before we get into the bad, let’s take a quick look at some good ideas. If you’re already in business for yourself but want to branch out, there’s probably a reason why you feel that way. Take a little time to seriously reflect on this notion. Ask yourself if you’re no longer interested in your core product and/or service. Also, think about a product or service that can really complement your current offerings. If you want to make more money sooner as an entrepreneur, you need to learn how to spot dead-end business ideas and say no to them so you can focus on the good ideas. This is especially important when the ideas are coming from your inside your own head. It’s easy to be protective of your own ideas because they feel like your own children, but you have to learn to be more objective if you want to create something profitable. —Entrepreneur.com You can seek objective advice from your peers. Other business owners might easily spot something that’s totally eluding you at the moment. If you’re not already a business owner but want to start the process, then look to your favorite hobbies. Imagine how you can monetize what you most enjoy. Ways to Spot Bad Business Ideas If you’re looking for a business idea, you want to settle on something with real promise. But, how can you peek into the future? Well, there is no magic crystal ball to foretell precisely what will unfold. However, there are some red flags which typically accompany a bad idea: It doesn’t meet a real need. If the idea doesn’t immediately solve a problem or fulfill a need, that’s a giant warning sign. After all, how do you market a product or service that doesn’t meet an actual need or take care of a problem? It isn’t scalable to other markets. Another problematic scenario is if you can’t imagine how it will scale to a larger market. While this doesn’t mean you need to abandon it, it certainly means you need to rethink the idea. It can’t stand out over the competition. Ask yourself if the idea can compete in the real world against its closet competition. If you can’t readily answer that question, you’ve already got a big problem. It’s too complex to easily explain. Any business idea you can’t explain in an elevator-pitch style will typically experience a lot of problems. Put another way, if you can’t explain it in simple terms, consumers won’t understand what it is or how it works. How do you spot bad business ideas? What other advice do you have to avoid wasting time with different ideas? Please comment and share your thoughts and experiences! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Independent Service Providers are Being Acquired and Local Businesses Can Use this Practice to Their Advantage

Independent Service Providers are Being Acquired and Local Businesses Can Use this Practice to Their Advantage

How Independent Businesses Can Take Advantage of Conglomerates Acquiring Competitors to Better Market Themselves

Want to Accomplish More?

Like this article?

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