Tips to Help Your Business Thrive

May 29, 2008

Source: The Merchandise Group


With the current media hoopla and gloomy predictions about the economy, it's easy to get sucked into the mindset that your business has no choice but to struggle. Fortunately, that attitude is not only completely untrue, but there are actually steps you can take to allow your business to thrive during the alleged downturn.

Steve O'Leary and Kim Sheehan recently released their book, Building Buzz to Beat the Big Boys: Word of Mouth Marketing for Small Businesses. The book is aimed specifically at small business owners with the intent to empower them into increased success, regardless of the economic climate. O'Leary and Sheehan provide the following 12 tips to help businesses succeed:

1. Keep Advertising
Businesses who quit advertising during an economic lull greatly miss out on revenues over the long term. It's important for your community to continue to see you in various advertising mediums.

2. Remember, It's Easier to Maintain the Customers You Have...
Stay focused on your existing customer base. Take the information you know about them and use it to create offers, loyalty programs and specials that will appeal to their needs.

3. Open Up
Start listening closely to your customers. Now is the time to perform surveys (and they needn't be formal, just start asking your customer questions while they're in your store) to find out how they're making changes in their lives (if any) and what types of specials they would like to see from your business.

4. Stay Local
Due to gas prices, individuals are driving less and staying more focused on what their neighborhood has to offer. Review your marketing and advertising dollars to make sure a portion of it is going to your local neighborhood. Remind them that you're there!

5. Pricing Counts
Review your pricing structures and see where the potential is for offering discounts. Advertise these discounts and be clear about the value you're providing your customers.

6. Be Nice
Apply these two words in every transaction and you'll never go wrong. Always greet customers when they enter the store, put on a smile and thank them when they leave. Make them feel comfortable and welcome.

7. Reward Customers
Customers love loyalty programs. Add a punch-style card to your store offerings to easily and quickly ramp up customer loyalty. It's easy to implement and customers love it!

8. Package It
Create value packs for your customers. Take specific products/services and bundle them together at a special rate.

9. Off-The-Chart Customer Service
Schedule a brief employee training and amp up your staff. Customers must be the number one priority and providing them with incredible customer service must be the number one goal. If you can get your team on board, you'll have greater customer loyalty.

10. Special Purchases
Customers are not ever going to stop buying for themselves. These days the purchases may be less expensive in nature, but they will still happen. Assess your demographic and come up with product offerings that will satisfy their desire for small indulgences.

11. Join Forces With a Charity
Give customers an inspired reason to buy from you. Partner with a local non-profit for a fundraiser or other charity-type purpose. This not only reminds customers that giving is important, it shows them that you're interested in helping others. And who doesn't love that?!

12. Track It!
Review all of your current advertising and marketing to uncover what the exact benefit is to your business. Track the responses you receive, and start asking customers how they heard about you. Make sure that your advertising is targeted to the appropriate demographic and to your local community and neighborhood.

By strategically applying these tips, your business can grow to the next level despite what is happening in the economy. A brief respite in the economy is only an opportunity for you to fine tune your business. Doing so will reap big rewards for both your business and your customers!

Tips to Help Your Business Thrive

May 29, 2008


Source: The Merchandise Group

With the current media hoopla and gloomy predictions about the economy, it's easy to get sucked into the mindset that your business has no choice but to struggle. Fortunately, that attitude is not only completely untrue, but there are actually steps you can take to allow your business to thrive during the alleged downturn.

Steve O'Leary and Kim Sheehan recently released their book, Building Buzz to Beat the Big Boys: Word of Mouth Marketing for Small Businesses. The book is aimed specifically at small business owners with the intent to empower them into increased success, regardless of the economic climate. O'Leary and Sheehan provide the following 12 tips to help businesses succeed:

1. Keep Advertising
Businesses who quit advertising during an economic lull greatly miss out on revenues over the long term. It's important for your community to continue to see you in various advertising mediums.

2. Remember, It's Easier to Maintain the Customers You Have...
Stay focused on your existing customer base. Take the information you know about them and use it to create offers, loyalty programs and specials that will appeal to their needs.

3. Open Up
Start listening closely to your customers. Now is the time to perform surveys (and they needn't be formal, just start asking your customer questions while they're in your store) to find out how they're making changes in their lives (if any) and what types of specials they would like to see from your business.

4. Stay Local
Due to gas prices, individuals are driving less and staying more focused on what their neighborhood has to offer. Review your marketing and advertising dollars to make sure a portion of it is going to your local neighborhood. Remind them that you're there!

5. Pricing Counts
Review your pricing structures and see where the potential is for offering discounts. Advertise these discounts and be clear about the value you're providing your customers.

6. Be Nice
Apply these two words in every transaction and you'll never go wrong. Always greet customers when they enter the store, put on a smile and thank them when they leave. Make them feel comfortable and welcome.

7. Reward Customers
Customers love loyalty programs. Add a punch-style card to your store offerings to easily and quickly ramp up customer loyalty. It's easy to implement and customers love it!

8. Package It
Create value packs for your customers. Take specific products/services and bundle them together at a special rate.

9. Off-The-Chart Customer Service
Schedule a brief employee training and amp up your staff. Customers must be the number one priority and providing them with incredible customer service must be the number one goal. If you can get your team on board, you'll have greater customer loyalty.

10. Special Purchases
Customers are not ever going to stop buying for themselves. These days the purchases may be less expensive in nature, but they will still happen. Assess your demographic and come up with product offerings that will satisfy their desire for small indulgences.

11. Join Forces With a Charity
Give customers an inspired reason to buy from you. Partner with a local non-profit for a fundraiser or other charity-type purpose. This not only reminds customers that giving is important, it shows them that you're interested in helping others. And who doesn't love that?!

12. Track It!
Review all of your current advertising and marketing to uncover what the exact benefit is to your business. Track the responses you receive, and start asking customers how they heard about you. Make sure that your advertising is targeted to the appropriate demographic and to your local community and neighborhood.

By strategically applying these tips, your business can grow to the next level despite what is happening in the economy. A brief respite in the economy is only an opportunity for you to fine tune your business. Doing so will reap big rewards for both your business and your customers!