Entrepreneurs Break
No Result
View All Result
Wednesday, May 25, 2022
  • Home
  • News
  • Business
  • Entertainment
  • Tech
  • Health
  • Opinion
Entrepreneurs Break
  • Home
  • News
  • Business
  • Entertainment
  • Tech
  • Health
  • Opinion
No Result
View All Result
Entrepreneurs Break
No Result
View All Result
Home Business

3 Reasons Not To Underestimate The Value And Competitiveness Of Local Businesses

by Ethan
January 26, 2021
in Business
0
Reasons Not To Underestimate The Value And Competitiveness Of Local Businesses
156
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

According to a recent poll by Groupon, two-thirds of shoppers prefer to shop with local businesses over larger retailers – proving that you should never underestimate the competitiveness of small, local businesses when considering your competitors. Being a successful business owner includes a lot of anticipation and planning of your environment, assets, and competitors. While most of the spotlight is often on larger companies, thanks to their limitless pockets and vast resources, local and community-run businesses are rapidly making a case for themselves in the business arena, and proving just why businesses need to focus on local promotion.

Table of Contents

  • Local Businesses Are More In Tune With Their Local Customers
  • Customers Tend To Swivel Towards Local First In Their Search 
  • The Laser Precision Of Local Businesses Means They Stand Out 

Local Businesses Are More In Tune With Their Local Customers

Approximately, 7.8 percent of Americans aged 18-64 years old own or manage an established business that provides them an income, according to Gem’s 2018 Global Report. In recent years, more attention and capital have been directed at encouraging local entrepreneurship – and it has worked. Whether they are driven by the need to be their own boss or a better work-life balance, or they are inspired by their unique business idea, local residents are embracing entrepreneurship like never before. This also means they are apart of the market their business is targeting – i.e. their local community. This gives them a connection and inside track on what customers want from their business.

Customers Tend To Swivel Towards Local First In Their Search 

Customers value a connection. They want to feel like they are part of something special. It is the same ideal that has driven the success of subscription membership models in recent years. Support for local businesses has also grown exponentially. Customers want to support local businesses, and by extension, their local economy, as they realize just how beneficial the success of local businesses is to the community and their lives. This is why 46 percent of all Google searches are for local information, and 88 percent of local searches on a mobile device end up visiting the store within 24 hours, according to a survey by Nectafy. Furthermore, 50 percent of customers searching for results ‘near me’ result in store visits to local businesses, which highlights the importance of businesses capitalizing on the use of local business directories, resources, and local SEO.

The Laser Precision Of Local Businesses Means They Stand Out 

Another reason local businesses stand to be highly competitive is their targeted marketing tactics. Too often, businesses try to widen their appeal as much as possible by believing that mass appeal equals higher profit margins. However, targeted marketing provides local businesses with more flexibility and the chance to personalize their products and interactions with their intended market – something customers will value highly.

This is not to say that mass marketing and strategies are not effective. However, they do carry a higher risk profile of missing the mark, and inefficiencies on the market research and advertising front. With many local businesses knowing what resonates with the customers, they can provide first-class service and differentiated customer service.

Local businesses are an important part of society. They contribute to the economy, community identity, and well-being of their communities. While historically seen as the underdog, you should never make the mistake of underestimating the value – and competitive power – of local businesses. With a unique appeal and strength, they can easily lead the market if they have the know-how.

  • Trending
  • Comments
  • Latest
Potential High Return Cryptocurrencies in 2021

Potential High Return Cryptocurrencies in 2021

October 25, 2021
How to Search, Share and Download Video TikTok

How to Search, Share and Download Video TikTok

April 25, 2022
5 Tips to Becoming a Good Actor- The Best Guide by Julian Brand

5 Tips to Becoming a Good Actor- The Best Guide by Julian Brand

January 9, 2022
New Roof

How Long Will It Take To Install My New Roof

August 7, 2021
Top 5 Safety Tips for your Family Road Trip

Top 5 Safety Tips for your Family Road Trip

2
Discover How to Get More Facebook Fans in 3 Weeks

Discover How to Get More Facebook Fans in 3 Weeks

1
Blockchain for Social Good

Blockchain for Social Good: Transparency and Accountability is Key

1
What is TikTok? Lets find out more about the app of the moment

What is TikTok? Lets find out more about the app of the moment

0
sleep center

What Causes Sleep Apnea? And How can it be Treated Properly?

May 25, 2022
graphics card

How to Choose the Best Graphics Card Your Budget Can Afford

May 25, 2022
Things You Should Know When Buying Health Insurance for Pre-Existing Conditions

Things You Should Know When Buying Health Insurance for Pre-Existing Conditions

May 25, 2022
Why Diplomas Are Considered Better Than Degrees These Days

How Student Loans Can Assist in Getting an MBA

May 25, 2022
Entrepreneurs Break

Entrepreneurs Break is mostly focus on Business, Entertainment, Lifestyle, Health, News, and many more articles.

Contact: [email protected]

Note: We are not related or affiliated with entrepreneur.com or any Entrepreneur media.

© 2022 - Entrepreneurs Break

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Tech
  • Health
  • Opinion

© 2022 - Entrepreneurs Break

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In