Big companies have established themselves as a brand, and there is a good chance a vast number of people might have heard about them, so it is easy for these companies to resonate their products and services among the people. Branding has its advantages as it establishes a company as a trustworthy entity and people start to believe in their products and services and eventually become lifelong loyal customers. But what about the small companies? How do they sell their products and services to the customers and, at the same time, compete with the big companies?

Many small businesses have to face hard times or even fail, not just because of customers not buying their products or services but because customers have never heard of them. The main reason for this failure is due to lack of funding in marketing their products and services.

Small companies cannot afford to lose money on marketing failures, as it would make a significant dent in their budget. So, to acquire and retain customers, these companies offer incentives. These marketing strategies may look simple but are highly effective in attracting customers to sell their products and services and are often employed to increase their customer database. One of the most effective ways of selling a product or service is through word-of-mouth. If the customers are satisfied with the product, they will remain loyal to the company and spread the word around.

Another effective and affordable way to promote products or services is to use social media to make your content go viral. The message can reach out to the vast amount of people in a short span of time and a minimum to negligible amount has to be spent on the viral campaign itself. Free offers work all the time. Small and big companies alike employ this marketing strategy and it pays rich dividends when compared to the amount spent on this campaign for customer acquisition and retention.

One of the advantages of discounts and deals is an increase in the number of units sold. Instead of selling each product as a unit, products are bundled as a special package and a steep discount is offered. As the cost of the product in a package is less when compared to an individual unit, people are willing to purchase the package. Another way to attract customers is to conduct contests, and the winner is offered a one-month free trial as the winning prize.

Breaking a Competitive Market

The online gaming industry is booming and, for marketers, it is a question of how to break into the highly competitive gaming industry and make profits.

Marketers employ different marketing strategies to acquire new customers, retain existing customers, and re-engage old customers who were left out of the gaming arena somewhere along the way. Retaining a customer is as important as acquiring a new customer, and the cost of acquiring new ones is rising every day, so it became pertinent for gaming marketers to offer incentives to retain existing gamers. They develop different marketing strategies to get the existing customer hooked to the game.

Big and small companies alike spend lots of money during promotional events and when launching new games. This strategy is employed to create buzz among new prospects, increase interest in the existing customers, and make the dormant players come back to gaming. Online casino portals such as Oddschecker offer free spins and free bets to acquire new customers and retain existing gamers. The marketing strategy employed by gaming marketers is aggressive and often involves various deposit bonuses like a welcome bonus. To keep customers happy, gaming companies sometimes dole out offers like a refer-a-friend bonus and, in turn, the player has the opportunity to make more money or earn more bonuses to play more games.

Many small companies that provide Software as a Service (SaaS) offer free trials to their potential customers. Discount offers are available throughout the season, and special discount prices are offered to the customers during special occasions like Black Friday, Cyber Monday, and Christmas.

It may be difficult for the small companies to compete against big companies with deep pockets but, if a good product or service is offered at an affordable price to the customer, small companies can stand their ground.