Small Business - Big Results
World trends are showing a remarkable growth in micro business start ups, all due to the Global Economy and e-business. But you can't compete head on with big business. They'll squash you like a bug if you try. So how do you compete? Well, you can't out-gun them, so you have to out-think them.
What's the biggest single advantage that large retailers have? PRICE. That's right. They buy lots of generic stuff and sell at the lowest price possible. So are you going to carry the same stuff and sell it cheaper? Of course not! You're going to provide products and services that have a point of difference, that stand out, that are better in every way.
But aren't they expensive to buy? Yes-more expensive to buy, more expensive to make, but your margins are a lot better. After all, you don't go into business to undercut the competition. You go into business because you've got passion and commitment! You've got a dream!
So what's your advantage over a cheap price? You've got a better product and you know all about it! The big boys just put it on the shelf and hope it sells. They don't know anything about it except the price; but you've got something different and you're an expert. You can explain the history, the benefits, you've used it, you like it, you believe in it and it shows.
Sell the benefits and the price won't be an issue.
How does a large retailer see a customer? As a walking wallet, that's all! To the large retailer, a customer only has value at the time of purchase. At any other time, they're just a nuisance. So here's your chance. Treat everyone you come in contact with as a potential customer, even if you're just giving street directions.
Won't this be a big waste of time? No! Because of one simple statistic, which goes like this: out of a total potential market of 100%, only 3% are ready to buy now, 6% have made up their mind and will buy very soon and the rest, 90% or so, haven't made a decision. This 90% is there for the taking. If you follow this one simple rule, you're going to own the segment that the big retailers ignore!
How? Well, firstly treat everyone that you come in contact with as a potential customer, even if you're giving street directions. Each person can influence three others and those three, three others each, etc. Show them they're important, that you like them, that they don't have to buy something to get a glass of water. So, who will they come back to when they're ready to buy? The retailer that treats them mean? Or the friendly, chatty guy who makes them feel good? This is how you start building a network, a store house of future customers. Don't forget, a person will talk about a bad experience to 7 to 10 others, but about a good experience to only 2 or 3.
Treat everyone like a potential customer, show them you like them and reap the rewards.
What else don't you get from the big boys? SERVICE. Good service takes time, knowledge and skill. So most big retailers provide the minimum amount to sell the product. They don't consider anything else to be necessary. So this is where you jump all over the big guys and all it takes is a little effort.
Answer all emails, phone messages, and letters in detail. This is your chance to start a dialogue with your potential customer. Who would you buy from? The one you can talk to, or the one that ignores you? Always guarantee your products with a full refund including postage. It's not just one sale that you're after. You want a lifetime customer. Helping a customer with a problem is an opportunity to generate more business. Don't hesitate to send samples or give free advice, it always pays off in the long run. Offer a gift service at no extra cost. This is your chance to show a new potential customer how good you are. Include 'thank you' notes to every customer (hand written if you can) and reward referrals with very special token gifts. Think of something with meaning; a sprig of rosemary, some seeds of a special plant or a tiny shell that you've collected.
Service turns a sale into a lifelong customer.
So it's not that hard to shine against the captains of industry after all, is it? Just follow 3 simple principles and you'll be head and shoulders above big business.
Know your product or service and sell the benefits. Price will take care of itself.
Treat everyone like a potential customer. Make them feel loved. If they don't buy now, they will later, or they'll recommend you to a friend.
Give great service. Never let a customer down. Show them you care about them, not just the sale.
Related Tags: service, growth, sell, customer, small, compete, reward, advantage, micro
Victor Pleshev Director Interface Pty Ltd Designers & Makers Since 1994 The Fitz Like A Glove™ Ironing Board Cover, Best Boy Pressing Cloth, Travel Bug Shoe Bag, Log Lugger, Roadworks Apron and Sweet Shoo Simple Solutions for Difficult Problems Visit our website at http://www.interfaceaustralia.com
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