The pandemic has forced small businesses to compete more, for less

Spark Outbound Business Competition

LONDON, UNITED KINGDOM, March 7, 2022 / -- Small businesses have been forced into a state of hypercompetition since the start of the pandemic - particularly firms selling their services to other business clients (B2B) rather than directly to individual consumers (B2C).

B2B sales were arguably more complex than B2C even before the pandemic, because there are typically several decision makers involved when a company deliberates over the purchase of services, of which the stakes are much higher.

While ‘big-ticket’ consumer sales can typically be completed in the space of a day or a week - for example, buying a new car - most B2B deals involve several weeks or months of calls, meetings and protracted negotiations, often with more than one competitor, until a deal is finally reached.

At the same time, the people making these purchases are being paid to understand what they are buying and hash out a beneficial deal.

Unlike for individual consumers, making a mistake not only results in a waste of money for a B2B buyer but can also threaten their job security, or at the very least damage their career progression or reputation.

These factors make the B2B arena competitive enough at the best of times, but since the advent of Covid-19 businesses have found themselves competing like never before to sell their services.

Amid a torrid economic backdrop, companies are under pressure to offer stellar services at a price point attractive to clients who are likely to be operating in a more risk-averse manner than ever - all while striving to ensure they can turn enough of a profit to survive.

Ultimately, small businesses are now competing more, for less. Strong brand awareness is therefore paramount to secure vital deals.

A 2020 study conducted by McKinsey showed that Covid transformed the landscape of B2B sales, with a diverse, digital-first marketing approach widely considered to be essential for continued success.

Digital marketing expert and CEO of Spark Outbound Jonathan Sellers said: ‘Unfortunately, small businesses competing for clients in a saturated market are now largely unable to reach their desired audiences without exceptional marketing campaigns.

‘Others meanwhile run the risk of crippling their finances by dumping capital into ineffective or slow-burn marketing strategies, conducted by in-house teams which often do not have the resources or expertise to stay on the bleeding edge of digital marketing practices.
‘The best way to remedy this is ultimately to work with expert partners who can provide the tools and expertise needed to develop and implement campaigns more likely to deliver results.’

Of course, the hypercompetition facing many small businesses also applies to the service providers looking to offer such expertise.

Digital marketing expertise has become extremely valuable in a post-Covid market and marketing agencies are therefore clamoring to offer their services, just like the small businesses in need of their insight.

For leaders who understand the value of digital marketing but are perhaps lacking the technical knowledge needed to differentiate between the services on offer, picking out the right provider can be extremely difficult.

To minimize the chances of making the wrong call, Sellers suggests judging digital marketing providers based on their willingness to back up their claims of results.

‘Choosing between a range of service providers can be tricky at the best of times, but when it comes to a tech-focused and data driven service like digital marketing, making a decision can be very disconcerting for a business leader who is not already an expert in the field.

‘I recommend taking the time to review all service offerings and pick out those who are willing to demonstrate their value and ability to achieve results in a tangible manner.

‘Opting for pay-per-lead services, such as those provided by Spark Outbound, can help small businesses to cut through the competition at low cost.

‘Rather than investing vital funds up front with no promise of results, agencies offering pay-per-lead services are only paid for what they deliver.

‘This is an effective way for business leaders to test out digital marketing campaigns without suffering a major financial hit if they don’t pay off.’

Jonathan Sellers
Spark Outbound
+1 813-308-2387
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