Consumers are eager to support their local small businesses, and owners need to adapt to make it easy for them to do so. Small businesses need to make themselves easy to find online, offer a variety of shopping and payment options and provide a stellar customer experience in order to thrive. “When push comes to shove, 82.76 percent of shoppers say they would rather support a local business than a large corporation. 8 in 10 would even spend more money if it were going to a local shop.”
While it may not seem like the best time to do so, taking calculated risks is essential to the growth of your business. “Innovation and technology adoption is essential for businesses to remain resilient. it is important for businesses to be open to new ideas and offer competitive, quality products. Those that have mitigated the challenges have tweaked their business plan and infrastructures. They have implemented remote working to help continue productivity as well as expanded product and service to meet new demands.”
Offer A Variety Of Shopping And Payment Options
“Under these hostile conditions, traditional retailers have staked their futures on omnichannel retailing. The omnichannel strategy hinges on the idea that providing a seamless shopping experience in brick-and-mortar stores and through a variety of digital channels not only differentiates retailers from their peers, but also gives them a competitive edge over online-only retailers by leveraging their store assets.” “In today's payment environment, customers prefer to have a range of choices to complete a purchase. Having a variety of payment options opens the doors for more customers to do business with and could lead to more customers long-term.”
Develop New Products And Services
“The first and most important reason for any new development is to provide new value to the customer. Without this, there is no reason for them to trade their money for the new device. However, if the product or service offers overwhelming value, then customers will flock to it. This new and increasing value is what keeps companies growing. If the value offered is not increasing, then the company is losing ground in the market as its competitors increase their value in the market.”
Invest Heavily In Digital Marketing Campaigns
“Just having an online presence and a website makes a business appear more trustworthy. Digital marketing also allows small business owners to engage with consumers online, making it easy for them to reach out to potential customers and see what needs to be done to make a sale.” In most cases, it is going to be a good idea to hire a dedicated marketer or enlist the services of an agency with experience in your industry. “Developing a truly effective digital marketing campaign involves much more than achieving arbitrary metrics and engagement stats. It requires strategy and creativity to turn business objectives into audience action that delivers real results. The combination of outcomes is what makes a successful campaign valuable.”
Maintain A Positive Company Culture
“A well-defined and positive company culture sets the tone for how your company interacts with clients, suppliers, and the outside world at large. It helps attract the right kind of talent, the right kind of client, and the right reputation to help expose you to bigger and better opportunities as you grow.” “Company culture is powerful: it can impact sales, profits, recruiting efforts and employee morale, whether positively or negatively. A great company culture attracts people who want to work or do business with a company. It can inspire employees to be more productive and positive at work while reducing turnover.”
Show Them Your Appreciation And Support Too
While many communities are coming together to support their local businesses, it is important for small business owners to do the same for the community. Sponsoring local teams, donating to schools and churches and volunteering for community outreach are just a few ways you can show your community you appreciate their support.
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