To win against the big players who are more likely than not, the incumbents, you’re going to need more than David’s courage and faith. You can’t possibly outspend them, and you can’t out-work their deep bench.
Adjectives such as “innovative” are commonly synonymous with technology advancements, however, don’t drop your anchor there. Listen to what the market is asking for, or complaining about, and operate with a level of agility to pivot and deliver in areas the Bigs cannot/will not.
How to win when you are going up against the Bigs?
Listen to what the market wants. This may be features, integrations, better customer service, data for decision-making, etc. These are hot buttons for the prioritization of strategic objectives.
Commit resources to matters most important to the market where you can differentiate against the Bigs. These are levers you will win more deals with.
Fix problems the highest-profile hot buttons the Bigs can’t, or won’t fix in the near term.
Live and breathe “agile and pivot”. This approach most likely impacts development, customer service, marketing, and sales. Never accept complacency with the assumption that today’s plan will be viable next week; question viability, routinely. The biggest competitors, much like an aircraft carrier, can’t pivot as quickly as you can, and therefore they cannot compete with your inherent agility.
Run evergreen low-cost tightly targeted and managed integrated micro-campaigns.
While you don’t have the deep pockets or FTEs the Bigs have, you can be more agile and pivot more quickly. Differentiate through being better than the Bigs at matters they will not (or are not willing to) address.