A few years ago, small businesses that tried to compete with big brands found it difficult to keep up. For those business owners, it was an uphill battle they could not win. But today, your business can co-exist profitably with big box stores using these tried and tested approaches:
Take Your Business Online
If you haven’t done so yet, it’s time that you do. Having a strong online presence is key to your success. Why? Because everyone is online nowadays! Build a professional website and use professional SEO services to help get your website as high up as possible in Google searches. You should also tap social networking through platforms like Instagram and Facebook. You don’t have to sell directly on social media – instead, use it to increase awareness of your company/brand, showcase your products and offer freebies.
As a small business, you want to personalize your approach to your customers. Personalization makes you stand out because in your customers’ minds, you treat them as an individual and not just a number. Personalization also applies to your products. For example, you may want to accept custom orders for customers who are looking for a product that is hard to find. Big-box stores don’t want to be bothered with special orders, but if your business is willing to go the extra mile, then that is something your customers are going to remember and appreciate.
Treat Your Customers Well
For the longest time now, businesses know the value of good customer service. But now with stiffer competition, it’s even more important. You need to ensure your customers are greeted with a smile every time they enter your store. If your business is exclusively Internet-based, then one way to boost customer satisfaction is by responding promptly to emails or calls inquiring about your promotions, products, or services. You should also make sure you address each customer by their first name – for an added personal touch.
Offering the lowest price may seem like a good idea to drive more customers to your store but is it sustainable? Can you continue running your business with a very slim profit margin? Don’t get so hung up on price. What you can do instead is to sell value. You can, for example, give tips to your customer on how they can maximize the products they purchased from you. Short processing and shipping times also help convince your customers to choose you over your competitors.
Running a business always comes with unique challenges especially for small companies. But even if you are trying to compete with multi-million-dollar businesses, it doesn’t mean that you’ll never be able to keep up with them. With the right strategies and tools, your business can succeed.