Bigger companies have an edge over the small businesses because they’re capable of offering everything a smaller business can all in one place. Even though this can make it challenging for the small business owner there are ways to still make money despite this set back. One thing a smaller company can do that the bigger ones often overlook is put some originality into their store and offer a more personalized care for customers and employees alike.
Customer service is much more important for a small business. A big company can afford to lose several customers in a week because the overall population they cater too is significantly larger then any small number they lose. For smaller businesses every person counts, losing a couple customers is a much bigger deal. This though is where a smaller business can have an advantage because they have the time to put a little extra care into their customer service.
Build lasting relationships with your customers to keep them coming back. By paying attention to the little details you can get a bit of an edge over the competition. Offer discounts for repeat customers and take even the smallest suggestions into consideration. If you treat your customers well it’s easier to establish a loyal list of clients. You should also treat your employees just as well as your customers because their attitudes directly reflect on the management of your company.
Try using “loss leader” products to get people interested in your business. These are products that you sell at price or even under in order to draw attention to another product or your store in general. You can do this by offering a freebie with a purchase of a more profitable product or offering a two for one deal. Although you don’t gain any profit you will be able to gain a little hype which can bring in some repeat visitors looking for good deals.
Not every promotional strategy is aimed at making you a profit. You want people to be coming back to your store repeatedly. A “loss leader” product is aimed at peaking people’s interests in your offers and getting them to come back. This is a product that you don’t make a profit on but it gets people’s attention and can direct them to a different product to buy that you will make money off of. You can sell this product in a two for one deal or in conjunction with another product. However you choose to go about selling it, this product you sell either at cost or even below so you don’t make anything but it keeps people coming back.
Use technology to your advantage, there are many programs designed to help small businesses get that professional edge. You need to look as professional as possible in every aspect of your business. First impressions will really last and you want people to get a good impression right from the start.
A lot of big companies really lack originality. Adding some personality can raise peoples curiosity and prompt them to check out what you have to offer. Because you’re small you need to stand out and the more you do this the more recognition you’ll get.
Jay Brandon is a successful online marketer, get useful marketing tips from him here www.TheOnlineBusinessInsider.com
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