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Published in U.S. 1 Newspaper on April 26, 2000. All rights reserved.
Against Goliath, Sling that PR
E-mail: MelindaSherwood@princetoninfo.com
In the famous Biblical tale, David overcomes a mighty
opponent with smart strategy and a simple slingshot. Like David, small
business owners constantly come face-to-face with formidable opponents
— corporations that have established reputations, large networks
of customers, and money for marketing. With the right strategy, however,
those smaller firms can prevail over the “Goliaths” of the
marketplace, says Debra Koontz Traverso, a business consultant
and trainer.
In her recently-released book, “Outsmarting Goliath: How to Achieve
Equal Footing With Companies that Are Bigger, Richer, Older, and Better
Known,” (Bloomberg Press, $19.95, www.bloomberg.com), Traverso provides small business
owners with an artillery that includes tips on planning shrewdly,
cultivating image, and marketing. “Outsmarting the competition
doesn’t have to mean breaking them, or outpacing them, or even giving
them a run for their money,” she writes. “Instead it can mean
flourishing in your market in spite of their existence. While the
big guys are throwing their weight around, it’s possible for you to
quietly thrive.”
For proof, Traverso offers up the now cliche story of the dotcom Davids
— two guys, a garage, and an idea that’s turned from start-up
to multi-million dollar business practically overnight. An adjunct
faculty member at Harvard University and president of WriteDirections.com,
Traverso’s experience comes from 10 years of operating a small firm
providing crisis management expertise to big organizations like UPS
and NASA.
Cultivating a polished image is the first lesson for the would-be
Davids in this 250-page book. There’s also a chapter on harnessing
customers through contacts, and mastering the daily routine to foster
better opportunities. For small business owners, however, some of
Traverso’s most insightful remarks are in the chapter entitled “Marketing
for Optimum Impact.” A few of her suggestions:
Solicit complaints. Customers aren’t always eager to complain,and will remain loyal just because there’s no option available. Whenthere is, however, they’ll take their business elsewhere. Don’t beleft thinking, “If only I had known…” Encourage feedbackin creative ways — by offering a happy hour complaint night, forexample, or a complaint-of-the-month award.Secure business whether or not you get paid for it. Earlyon, it’s acceptable to underbid for a large job so you can leverageyour experience with the next customer.Call key contacts and don’t talk about business. Spendthree or four hours each month talking to people who could be prospects,but keep the conversation focused on them — not doing business.Take notes on their interests, hobbies, family — so that you canbecome more involved in their lives.Push for Referrals.Take Your Product to the Streets. Trade shows are good,but also think in terms of where your customer is likely to be. Artgalleries, cafes, parks may all be possibilities for demos and garneringinterest.Don’t offer sales. Sales generally attract the same crowd,who only show up when there is a sale. This forces you to keep offeringyour services at discount prices.Market to somebody else’s customers. Not a competitor,necessarily, but a business with a similar customer base. Traversotells how a caterer expanded her market by reaching out to new mothers,pitching the idea that they should celebrate the happiest times oftheir lives with a party.Create an award or honor. This builds good will, customerloyalty, and free publicity.Barter for business.Offer at least one feature more than the competition.Approach advertising cautiously. Don’t try to go toe-to-toewith competitors through advertising, says Traverso, but focus onreaching your market personally and directly. When you decide to advertise,remember the key is consistency — presenting the message overand over in the right medium.The bottom-line, says Traverso, is cultivating a perceptionof strength, until eventually it becomes second nature. By thinkinglike David, you become a Goliath.— Melinda SherwoodPrevious StoryNext StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
