There are a bunch of challenges facing businesses at the moment. I want to share ideas and advice on how businesses can best operate in this difficult part in the trading cycle. I am trying to keep this at a bite size level, but out of each one of these ideas can spring a multitude of options.
The issues:
People are more savvy about how they spend
People are buying things online
The solution:
Understand and service your customers better
Be flexible, dynamic and embrace change
1) Understand and service your customers better
- Stop second guessing what you think your customers want – ask them!
- Collect more meaningful information from your customers.
- Provide unique offerings based on customer wants.
- Reward loyalty, remember, everyone likes getting a bargain.
- Be more approachable.
2) Be flexible, dynamic and embrace change
- You need a web presence, your customers will be looking for you online.
- Embrace social media, facebook, twitter, linkedin.
- Keep an eye on your competitors, avoid “not invented here” philosophy.
- Don’t be complacent as Einstein said “Insanity is doing the same thing over and over again and expecting different results”.
- Stay up to date with trends in your industry, try to get ahead of the curve.