Make customer service your primary focusShould your business be faced with a single negative review, it would take a hundred positive feedbacks to offset that. Considering a loyal clientele is an easier and more sellable prospect, your small business should ideally focus on good customer service.
The starting point here could be taking a long, hard look at the present level of customer service and then introducing necessary changes – across aspects such as revamping returns policy, automating prompt replies to customer emails or investing in training - that would hand over the advantage to your business when compared with its peers and competitors.
Emphasize word of mouthBuilding word-of-mouth publicity is essential for your business, no matter if you are conducting it within a small community or a larger urban hub. That’s because most customers turn to the internet in order to search up reviews prior to shopping from a particular business.
It follows that you should focus your energies on beefing up reputation and goodwill, by way of providing superior service (both pre and post sales), monitoring reputation (both word-of-mouth and online), and building good publicity through active support towards local organizations.
Intensify marketing effortsReaching out to your clientele is the key to increasing sales and furthering profitability. More importantly, effective marketing doesn’t mean that you have to break the bank. Some of the more economical ways to market products and services include:
- Combining promotional handouts with your monthly invoices
- Involving the media in grand openings, product launches, etc.
- Developing business-based partnerships and initiating cross-promotions
Build a user-friendly, informative website and promote your business on social mediaDeveloping a professional website is easy and can go a long way in making the presence of your business felt. A simple website that describes in detail what you do, how you do it and how you want your clientele to contact you should suffice for most small business.
Your website should ideally contain the following bits of information:
- The name of your business and its logo
- A brief of what your business does
- Contact information, address
- Mission and vision
- Customer testimonials
Appoint and retain good employeesRecruiting and retaining the right employees is one of the more crucial decisions that you’d have to take. The key to success here is to hire and train employees across business processes, and design company policies that would encourage them to stick to your organization and forge long-term relationships.
In conclusion, getting organized, maintaining detailed records, analysing competition and providing great customer service constitute the fundamentals of smooth and successful business operations.
Find more about the business loans from Aditya Birla SME Finance.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
How to save on gift tax in India?
You need to pay taxes on gifts which exceed the limits set by the Government. However, gifts of any amount received or given from relatives including parents and spouse are tax-free.
6 Factors for Rising Health Insurance Premiums
While the demand for health insurance policies has certainly increased, there has also been a rise in the premium costs. Read this post to know the top factors that lead to an increase in the premiums of health insurance.
What Is FTSE And Why Does It Matter?
Informally referred to as the ‘footsie’, FTSE is a joint venture between the London Stock Exchange and the Financial Times of London. The acronym stands for Financial Times and Stock Exchange, and the indices of this joint venture comprise UK’s most highly-capitalized companies that are listed on the London Stock Exchange.
5 Types of Business Loan For Woman Entrepreneurs
There are now many different types of loans options in India for women wanting to explore their entrepreneurial dreams. Read this post to know 5 of the most popular options.