Small businesses that are looking to advance their business strategies should always be on the look out for the latest shopping trends. Since many small businesses have limited resources, staying current with the demands of shoppers is important in order to have long-term success. To maintain customers and continue growing in sales, small businesses should focus on integrating the latest payment solutions and enhancing the customer experience.
1. Enhance the Customer Experience
It is typically easier for customers to have a 1-on-1 relationship with a small business owner due to the fact they are usually the ones working on the floor in-stores or behind the register. In addition, most small businesses generally have a smaller staff that is able to interact with the customers more frequently. Small businesses can use these key differentiators to enhance and personalize the customer experience.
Likewise, small business owners need to interact with their customers, finding out their wants and needs so they can continue improving the overall business model and product selection. A small business staff can make strides by getting to know the customers and addressing their questions and concerns in a timely manner. By focusing on the customer experience and personalization, small businesses will outshine their larger competitors.
2. Upgrade In-Store Equipment
Running an outdated and older point-of-sale (POS) system can cause frustrations not only for the customer, but also for the small business employees. Small businesses can remedy this issue by upgrading to a modern POS system. Incorporating a state-of-the-art POS system will improve productivity within the store - allowing for faster transactions and a potential growth in overall sales.
On top of the improved productivity, a new POS system should include modern payment methods such as EMV, NFC, and mobile transactions. Not only will these solutions keep customers safer from instances of fraud but will also provide a quick and easy way to pay.
3. Start a Loyalty Program
Loyalty programs are a great way to reward customers for their repeat business. Not only do loyalty programs benefit a small business with more sales, but also are typically inexpensive to implement. In fact, most new POS systems already have loyalty programs integrated within the software. With advanced data analytics on an easy-to-use POS system, executing a customer loyalty program can enhance many facets of a small business strategy.
4. Market your Business with Social Media
Most businesses are now utilizing social media, like Facebook and Twitter, to promote their companies, and small businesses should also take advantage of this growing trend. Social media sites are a cheap and quick way to let your customers know where your business is located, what your current specials and promotions are, and are a great outlet to market a special campaign or event to get your customers engaged.
Small businesses have a wide variety of strategies they can incorporate to further boost their sales. Enhancing the customer experience by interacting with customers and focusing on personalization is a great way to keep customers satisfied. Upgrading in-store equipment will improve the productivity of a small business and equally come with advanced security features. Starting a loyalty program will likewise reward current customers and bring in future sales. Lastly, social media is a great opportunity for small businesses to market their company by utilizing Facebook and Twitter.