If you’re at a small (or even medium sized) company, one of the easiest mistakes to make is to try to compete with the big manufacturers or distributors on their own terms. As a prospect, why would anyone deal with you if all you have to offer is the same as the big boys (without the comfort factor of being one of the big boys)? Being small is nothing to be ashamed of, and you can’t hide your size from prospects indefinitely, so why not make a virtue of it? There are potential customers out there who want more direct, personal service, or a more local supplier, and I suspect that’s why many of your existing customers are with you. I’m sure you wouldn’t disagree.
But does your marketing reflect this, or have you forgotten to advertise the benefits of your company, just as you would the benefits of your products?
Yes, our larger competitors can move vast amounts of components very cheaply, and if we try to compete on that basis we can get into a downward spiral. Accentuating one’s flexibility, accessibility, and willingness to solve customers’ production or technical problems will appeal to a significant proportion of customers. However global sourcing tends to delay contact as customers are so driven by cost downs they will try all the big boys before coming to you. Unless you are fortunate enough to have a niche market, of course.