I was recently asked to share an infograph with you which prompted what I am writing today, Is Bigger Also Better? I’m going to limit my thoughts on the subject to the business world and some personal insights too.
First the infograph:
Anything surprise you?
There were a couple of items that I had forgotten about some of the U.S. based companies and as Americans, we are mostly ignorant about the companies that are headquartered in other parts of the world. Rarely have I worked for a company that was as large as any of those mentioned, but I have friends who do.
The bigger a company is, the more they have to lose if they are not diversified. Google did some restructuring and created their own parent company, Alphabet, which is listed above. Most of those on the list are very diversified which has helped them weather the economic ups and downs for not just dozens of years, but well over 100 years.
I don’t work with companies of that magnitude in the day to day work that I do as a marketing coach, consultant and advertising sales person in Fort Wayne Indiana with WOWO radio and Federated Media. Usually when I work with companies that are publicly traded, I work with a subset or division of the parent company which is fine.
Did you notice the revenue numbers listed above were all Billions? Change that to Millions for the level of companies I work with. (There are a couple of exceptions, this year and next year I am working with a company that has annual revenues of over $13,000,000,000.00, but on a local level which is just a small piece of that 13 billion dollar pie.)
It is not uncommon for a company in Fort Wayne that I work with to have over a million dollars in annual revenue. Most consumers in Fort Wayne are probably not aware of the cash flow that is going on in our city.
These local companies with annual sales in the millions are all over the place. I had neighbors in the pizza business, friends I go to church with in the sign business and home repair industries and there are tons of B 2 B businesses that are never given a second thought because they are not retailers.
All of these businesses need guidance and help with their marketing and I enjoy sitting down and asking the right questions to help them form a strategic marketing plan. Sometimes they become my advertising partners and sometimes we just become friends.
A few years ago American Express launched #SmallBusinessSaturday and it continues again this year. Many local retailers will be participating on the Saturday of Thanksgiving weekend. It’s sandwiched in between Black Friday and Cyber Monday.
I suspect I am like most of you in my shopping habits. I buy local when possible and also buy from the big boys.
Amazon Wish Lists help me buy for my out of town family. Were you aware that Amazon also supports local non-profits with their Amazon Smile program? I am on the board of directors for Homebound Meals, Inc. of Fort Wayne Indiana and recently made the switch so my Amazon purchases benefit locally. Kroger also has a rewards program that you can sign up for that gives money to the charity of your choice.
But back to the title of this article.
Is Bigger Also Better?
No, but the opposite isn’t true either.
I urge you as a business person to seek out advice on how to be the best you can be no matter your size. An often overlooked piece of your success is how you invite people to spend money with you, that’s part of your marketing and I can help.
I also urge you as a consumer to support your neighbors and their businesses when possible in a variety of ways as I just mentioned.