The term 'BEAT BY A SMALL MARGIN' can be represented by two crossword solutions: EDGE (4 letters) and NOSEOUT (7 letters). Both terms refer to a situation in which one person or team has won a competition, but only by a very small amount. EDGE implies that the winner was just barely ahead of the other competitor, while NOSEOUT suggests that the winner was slightly ahead of the other competitor, but only by a small margin.