The other day, a client shared that she operated, as a side hustle, a small service-based business while maintaining her corporate day job. She asked, “How do I, as a small company with a limited budget, compete with the much bigger players in my industry who have the money to run all kinds of ads?” My advice was simple, “Do not compete with them on their turf.” I then shared the parable of David and Goliath and what I call the Underdog Strategy.
Small businesses are like the David in the story of David and Goliath and have a unique advantage—they can venture onto the thin ice where the Goliaths fear to tread. Just as David slew Goliath with a single stone, small businesses can triumph over their larger counterparts by venturing onto thin ice where big competitors cannot go, at the risk of breaking through and drowning under the weight of their bureaucracy. Small businesses, in contrast, can gracefully skate on its surface. In this metaphor, the thin ice represents personalized customer service—a realm where authentic interactions reign supreme. While Goliaths may rely on automated systems, Davids thrive by forging genuine connections that resonate with their customers. By daring to venture onto this perilous terrain, small businesses can slay giants and emerge victorious in the battle for customer loyalty. The primary difference between Davids and Goliaths in business marketing is that Davids focus on qualitative marketing while Goliaths use quantitative marketing.
Quantitative and qualitative marketing are two distinct strategies that businesses employ to achieve different goals. While quantitative marketing aims to increase brand visibility and reach a larger audience, qualitative marketing focuses on building engagement and fostering relationships with individual prospects so they spread the brand’s story. As the old saying goes, “It’s not what you say about yourself (quantitative) but what others say about you (qualitative).”
Quantitative marketing, which is akin to casting a wide net, involves tactics like advertising and mass promotions aimed at reaching a large number of consumers. It’s the one-to-many approach, where businesses strive to get their brand in front of as many eyes as possible. Big corporations and manufacturers often invest heavily in quantitative marketing, leveraging advertising to enhance brand awareness, making it easier for retail stores to sell their products or services. However, this widespread exposure comes with a price tag, as building brand awareness through quantitative marketing requires a significant financial investment, often beyond the reach of small business owners. Moreover, one of the goals of quantitative marketing is to make it easier for retailers to sell their products, while most small businesses sell services or their own products directly to the consumer.
On the other hand, qualitative marketing is about creating meaningful connections with customers on a more personal level. It’s like engaging in one-on-one conversations rather than broadcasting messages to the masses. Small businesses, in particular, can excel in qualitative marketing by focusing on authentic interactions and creating memorable customer experiences. Small businesses are run by real people, not by faceless teams. Consumers relate much better to real people and not faceless teams. So, rather than relying on paid advertising, small businesses in a sea of larger competitors should leverage word-of-mouth marketing by turning satisfied customers into enthusiastic brand ambassadors.
Allow me to illustrate this with a personal experience. Last summer, a severe hailstorm wreaked havoc on properties across the Front Range of Colorado, including mine. Amid all this chaos, I found myself in need of a roofing contractor to examine my roof and see if the damage was sufficient to make an insurance claim. While interacting with two roofing contractors referred to me by people I respected, one company stood out from the rest.
Upon contacting the two roofing companies for assessments, both confirmed my roof was damaged from the hailstorm and agreed to provide quotes. One roofing contractor provided a one-page quote, and I never heard from them again. However, the other contractor went above and beyond by offering not only a quote but also a detailed report with extensive photographic evidence of the damage. However, what truly impressed me was their commitment to ensuring a smooth insurance claim process. They assigned me a dedicated project manager to work with me and my insurance company. When my insurance company sent out their insurance adjuster to look at my roof, my dedicated project manager was there to meet him and point out all the areas of damage. Then, over the next few months, the project manager exchanged no less than a half dozen messages with my insurance company on my behalf and kept me updated throughout the entire ordeal, demonstrating a genuine concern for my needs.
Their exemplary level of service demonstrates qualitative marketing at its finest. By prioritizing personalized customer care over automated and impersonal interactions, the roofing contractor earned my business and transformed me into a vocal advocate for their services. Whenever the topic of roofing or hail damage arises, I enthusiastically recommend the company that provided me with such an exceptional experience.
For small businesses seeking growth opportunities on a limited budget, embracing qualitative marketing can be a game-changer. By focusing on tactics that build trust, foster loyalty, and deliver outstanding experiences, they can carve out a niche in markets where larger competitors fear to tread. Rather than attempting to compete with the giants on their turf, small businesses can leverage their unique strengths to create meaningful connections with their audience, ultimately driving sustainable growth through genuine relationships.
How will you use qualitative marketing to set your business apart?
