It’s essential to any business to turn a profit. For businesses just starting out though, there’s often a question of how to do that. Some entrepreneurs try to run the business model of selling lots of goods at a low price, effectively undercutting their competition. While this may work short-term it’s certainly not the best way to gain business presence and repeat customers. What you’ve done is locked yourself into selling at a low rate, telling others that your goods are not at a high enough quality to demand a better price. Instead of selling yourself short try some of these tips to outsmart your competition.
Have awesome customer service
The people you have working for you can often make or break a sale. Employing workers who will go above and beyond what is required of them is key to keeping customers happy. And as we know, happy customers are repeat customers and love to tell their friends about the wonderful service you gave them
Improve the quality of your products
Again, cheap may sell at first, but customers are looking for quality and are willing to spend more to get it. If they are resellers this is even more important as they will be put on the line with their customers for the quality of your goods. Spend some time and money to improve what you sell and you’ll have a leg up over the competition.
Hire an interior designer
Housekeeping your business probably isn’t your thing, and I doubt that you thought twice about hiring someone to come in and keep your business looking its best. But take some time and look around the decor. If it’s outdated, uncomfortable, or just plain ugly, it may be time to hire an expert. This is an expense that will pay off in the long run. If customers come into your building they need to be happy there. The same goes for hiring a landscaper. Improving curb appeal will improve your reputation and what people think of you.
Ask for referrals
Happy customers love to tell others how happy they are. Leverage this to your advantage by having some of your customers do part of your marketing for you. Offer discounts for referrals, have customer loyalty days, and let them know that you appreciate them. People are going to talk. Give them something good to say.
Build an online presence
Just because your brick-and-mortar store is doing well doesn’t mean you shouldn’t look into a website to sell online. You’ll be able to reach innumerable amounts of people and will expand your sales presence. If you have a solid understanding of the day-to-day of business, a happy customer base, and quality products, there’s no reason not to take advantage of the internet to increase sales. Businesses everywhere are doing it, don’t get left behind.
Here are five easy ways to help your small business outsmart the competition. Focus on delivery quality goods, keeping customers happy, and always looks for ways to expand, and you’ll be sure to have a leg up on the competition.