For small business owners, the current way of conducting business is anything but normal but adapting to the new normal is something that has to be done in order to maintain a healthy profit margin. The good news is that even though the current circumstances warrant changes, you can still come out on top.
Data Provides an Abundance of Knowledge
Human contact leads to future sales. You set up a meeting and during it, you talk about the services you provide and get a sense of what your clients really need for now and later. Even though you don’t have customers coming into your business which usually helps increase service and product sales, there are other ways to achieve this interaction. Master data management lets you access data from a single source, and you can review customer history with accurate results. It’s a cost-effective way to make informed decisions.
These are challenging times; however, technology affords business owners a way to keep employees on staff– by having them working remotely. From their homes, your staff can perform most of the duties they would in an office setting as software designed for teleconferencing, such as Zoom, allows for face-to-face meetings and team discussions. It also helps you keep in touch with your employees in a setting that is similar to sitting in a conference room.
Benefits of Social Media
With many small businesses suffering monetary losses, having a marketing tool that provides results and is cost-effective is essential. Thankfully, social media platforms offer both. They have millions of people on their sites daily and for a nominal fee, you can attract potential customers to your website. Just identify the age group ahead of your ad placement to ensure that it appears at the most helpful times.
It’s All About the Website
Today, a majority of the population buys products and hires companies using the web. In the past, your website was something to view, a bonus. However, now every website must offer much more. To achieve a competitive edge over those in your industry, you must have a website that details your business practices, including your goals, history, performance, and the benefits you provide to customers. With small shops operating at a reduced capacity or not at all in many cities, the internet is your new best friend as people shop more online than ever before for safety and convenience.
Getting the Word Out
Even on a reduced budget, you can promote your business. Email is an effective tool that lets you reach thousands of existing and potential customers daily, and sending out an email to attract new business is easy. Contact a company that specializes in providing lists for people that live in the surrounding area. To keep your existing customers loyal, send out a monthly newsletter complete with articles on topics of interest pertaining to your business and that has information that identifies new products ahead of their rollouts along with upcoming sales.
Your Loyal Base
As a small business owner, you work hard to keep your base loyal, and word of mouth is something that can work for or against your business. If you keep customers happy, they will pass along your company name to family, friends, and co-workers, giving you free advertising. Successful businesses understand this and offer rewards to loyal customers to help promote word of mouth marketing. Some give a small monetary finder’s fee. Other business owners offer future discounts on products and services.
It’s a tough time for many small business owners but stepping outside of your comfort zone and making changes to adapt to the current circumstances will allow you to remain afloat and to flourish. COVID-19 will eventually leave, and business will return to normal; however, some beneficial changes may become standard practice in the future.