Small Business Has The Upper Hand In The Era Of The Consumer

Whether marketers and business leaders realize it or not we have quietly slipped into the ‘era of the consumer’. The days of creating and forcing products and services on the public and hoping to forge successful corporations are fading away. Consumers are now in control. They are dictating what they want to see developed, how they want it to look and how and when they are willing to hear about it. For businesses it is time to listen or lose. So who will win the battle between big corporations and small businesses in this new age?

While super sized organizations with huge ad budgets and political connections may be able to continue to shape the way people think and perceive to some extent small businesses will undoubtedly have the upper hand in the next few years for a number of reasons.

For a start small businesses are far better positioned to pivot in order to take advantage of new opportunities and jump on emerging trends. We may have already seen some dramatic changes in the business world over the last few years but with the speed at which new technology is developing we are likely to see many more in the next 5 years.

Perhaps the biggest advantage that small businesses command in the era of the consumer is that they are closer to the consumer and better understand what they want. Too many top level CEOs at giant conglomerations are so sheltered from reality and what is going on in the trenches that they are simply not equipped to make truly educated decisions.

While big business may still be able to command control of Superbowl ads, telemarketing and TV commercials these marketing methods are fast becoming obsolete. The equalizer comes in the form of social media which allows entrepreneurs and small businesses to reach every Internet user on the planet for virtually the same amount as big companies. However, smaller companies are not weighed down or held back by huge legal departments and policies which hinder larger competitors from being effective in social forums and prevent them from making that personal connection that social media is all about.

Last but not least, as the economy improves and hiring picks up smart entrepreneurs will be able to get the jump on larger competitors weighed down with slow HR departments and will be able to lock down the best talent and provide them with working environments and perks that will make them stay.

However, on a personal level the real question here is not who will make the most money but whether individuals want to gamble on a corporate job with an organization that is no more solid that a house of cards or take control of their own destiny and financial future by starting their own enterprises?

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