Some business advice does not always fit in well for small business owners. This is because small businesses often have small financial budgets and are not equipped to take on big scale upgrades. However, here are 3 small business tips uniquely aimed at entrepreneurs.
Tip #1: Avoid matching or beating the price of competitors – Smaller businesses cannot compete on price with larger retailers such as Wal-Mart, Amazon, and Target. Instead, smaller businesses should concentrate on offering products or services that focus on experiences. This may cause consumers to overlook the price for add-ons like packaging, delivery, and customization.
Tip #2: Provide exceptional customer service – By providing your customers with an above average service from start to finish off their purchasing experience, customers will be more likely revisit and tell others about your business. Do this by standardizing your customer service process, using a customer service Manuel followed by training.
Tip #3: Create a loyalty program that encourages repeat customers – Customers always appreciate when they receive something for their patronage. Therefore, consider a customer loyalty program that is digital, mobile, or as old-fashioned as using paper and a hole puncher. The key is creating a loyalty program that works for your customers and your business. Your loyalty program should stand out even when you’re serving a customer. It is also advisable to include details of your loyalty program on newsletters and social media.