Conquering Your [Small Business] Fears

April 11, 2016 Aditi Vora

Last week, we touched upon the many struggles of owning and operating a small business. From having to deal with the daily drudgery of making sure everything is running smoothly, to improving your quality of service, to getting customers through the door – your job is the equivalent of 3+ full times gigs.

The last thing you need is to be kept up late at night, letting your fears get the best of you. While there are common fears that haunt all small business owners, there are also very effective solutions to them, ones that you might not have thought about yet. Let’s shine a light on your fears and explore different options for squashing them, for good.

  1. Staying on top of local competition

We spoke about how difficult it could be to deal with new competition that moves in on your local business. It’s a fear that many business owners, whether they be small or large, have to face on a regular basis. While you can think of new marketing channels to use to bring new customers through the door, you should really be focusing on getting your repeat customers back through the door. They’re your best tools for fighting off your competition. We’ve said it once and we’ll say it again: 92% of customers believe recommendations from friends and family over all forms of advertising. Don’t you think you should be leveraging them when it comes to battling the local competition?

  1. Lack of communication

How about all those specials and promotions you spend so much time (and research) putting together. You’re aware of what your customers look for in a good special or discount; you know how enticing it can be for them to purchase them. HOWEVER – for some reason, none of your customers are ever AWARE of them. What good is a special deal if no one knows about it?

You know the answer to that.

So that’s where your quick communications come in. With automated email blasts or text messages, you could put the word out there for all of your special deals and your response rate will finally see an uptick. We’ve laid out the importance of quick communications, check it out, here.

  1. No repeat customers

…this is where we come full circle. Your repeat customers are the lifeline of your business. They spend up to 67% more than your new customers, they’re more likely to leave a rating or review online, and they’re the ones that are the backbone of your business when it comes to growth. So how’s a small business supposed to attack the issue of not having their customers walk back through the door?

It’s all about cultivating those relationships with your customers. From offering memberships and packages, to constantly staying in communication with them, you’ve got to try and stay on-top-of-mind with your customers, before they walk out of your business forever.

In the last part of our fear series – we’ll introduce you to automated tools you need to truly but these nightmares to bed.   

 

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