In this episode, Iyia discusses how small businesses can compete with low-cost retailers like Temu and Shein. Iyia explores the reasons why people buy from these retailers, such as fast and free shipping and low prices. She also provide strategies for small businesses to differentiate themselves, including identifying niche markets, focusing on brand building, and offering personalized experiences. The importance of effective advertising and marketing is emphasised, with a focus on social media advertising and creating compelling ad content. Keywords low-cost retailers, Temu, Shein, small businesses, competition, niche markets, brand building, personalised experiences, advertising, marketing, social media advertising, ad content, sales funnel, brand loyalty, customer relationships Takeaways Identify niche markets or customer segments that are not well-served by low-cost retailers and tailor products or services to meet their specific needs. Focus on brand building and differentiate your brand by emphasising unique qualities, superior quality, unique designs, eco-friendly materials, or exceptional customer service. Invest in digital marketing and advertising, with a focus on social media advertising and creating compelling ad content that addresses the target audience's problems and showcases the solution. Regularly analyse and optimise your sales funnel to identify points of improvement and ensure a seamless customer journey from prospect to purchase. Build brand loyalty by offering loyalty programs, rewards, exclusive offers, personalised emails, and exceptional customer service. Compete by excelling in areas that low-cost retailers cannot, such as building brand loyalty, providing exceptional quality, and offering personalised experiences. https://www.makeithappen.org.nz/ See omnystudio.com/listener for privacy information.

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