Check Issuing’s Small Business Tips (These Are Awesome)
Running a small business isn’t child’s play. If it were, everyone would be doing it. But the fact is, most people aren’t opening their own business and profiting. Your business is a unique butterfly and you are the boss, the leader, the respected entrepreneur who is directing the ship across even the most treacherous of waters.
To me, running a business comes down to executing the basics. Just like anything you do in life, take sports, for example, you need to always count on the basics to get yours through the good and the bad. But often times, we over complicate things because sometimes overcomplicating sure feels like an opportunity at something bigger and better. But the reality is, the basics are the bread and butter.
Here are a few good solids that should help get you through tougher times.
Make Your Customer Service Count.
Businesses overlook customer service more than any other component of their business. And it is understandable why this happens. The reality is, in order to grow, we must focus on new sales. This can cause us to get hyper-focused on finding ways to increase sales, which in turn, causes us to lose sight of our current customer portfolio. But here’s the thing: Those people who have bought from our products or services have proven their viability and profitability. These people will likely buy again….unless of course, they have a bad experience.
The key is making sure they DON’T have a bad experience. And that means sitting down and focusing on customer service. Are you responding to their emails as fast as you respond to new product or service inquisitions? The worst is when a current customer figures out that in order to get faster service, they can contact you as if they are a new lead. Be on it. Be responsive. Try to answer the phone.
Price Matching May Not Be The Best Option.
As a small business, price matching simply may not be in the cards for you. Large corporations base a huge part of their business on “lowest prices.” But you aren’t big and bulky and detached. And you should let your customers know that.
Remember, small businesses can justify the higher cost by giving amazing customer service, answering the phone and being more custom. Large companies can’t just customize for every person out there, they’d come to a stand still.
As mentioned above, current customers are where the money is at. They are proven, spenders. Encouraging them to stay should be a priority. This is why loyalty programs are so huge. Even if you aren’t the size and scope of Target, it doesn’t mean you can’t put together loyalty attributes. Maybe lowering the cost of the service after X years of use, or even giving yearly rebates on future purchases could work. Encouraging customers to want to remain your customer doesn’t have to be an extravagant experience on your part. You can dress almost anything up to feel really nice!