Constructing a loyal client base is hard while there are too many agencies competing for the same marketplace. That is especially true for small corporations. Whether or not you personal a dry cleaning save, a hair salon, a boutique, promote pizza, garb or electronics to call some, you understand that accessible, it’s plagued with corporations that do the same component you do. To face out of the gang you need to both have a killer product which your opposition cannot lay fingers on (first-class -diagnosed- pizza on the town), is located in a hot place (shopping center), or have lots of correct good fortune.
In case you don’t see yourself in any of these 3 organizations then it is most probable that you may not have the ability to distinguish and gain an aspect over the opposition. And even if you do, there may be no reason why you shouldn’t do what I am about to tell you. Unlike nearly the whole thing within the business international, this has no related fee and it’s full of ability.
Apart from not counting on the economic assets that huge corporations have, the problem with small groups is they typically don’t think massive. This does not suggest that they do not have excessive aspirations. It way that small enterprise proprietors occasionally neglect to assume beyond the ones four partitions that they call their store. There is no rule that asserts that small groups can’t assume as big corporations.
One certain way to “be different” is to stop deliberating your organization as an island. Consider it as part of tools bigger than your business’ mission statement. If you have a bakery it does not imply that you have to restrict your commercial enterprise to promoting bread and cakes. I am not saying that you need to upload a gun store for your bakery. What I am saying is that there is one thousand services and benefits you may offer on your customers without even moving one piece of furniture or equipment from your shop even as at the equal time turning into the hub of a bigger commercial community; and all this at 0 or almost 0 costs. All you need to do is network outside of your area of interest.
The key to increasing patron loyalty and growing your commercial enterprise’s popularity is to facilitate for your clients get admission to products and services -outside of your niche- that they frequently use (an amazing gain is to understand your clients; their behavior, want, and desires). You facilitate get admission by means of making those products and services cheaper for them. And the way do you do that? Like this:
Consider a city or city. Humans come and cross from saving to save without a specific or prepared sample. You could call it random wandering. Random wandering turns into random stroll-ins. If we’re talking about nonregular customers, humans will input the first location that gets their interest without a doubt due to the fact there may be no different motivation to choose among Pizza Joe and Pizza Pete than how fine the place appears from the outside.
The concept is to broaden a blessings/rewards program for your enterprise. Go to the hair salon around the corner, to the bar on the nook, to the diner down the road. Let them recognize that you can probably help them boom the number of clients walking thru their doorways. Also, tell them that one’s humans will willingly stroll into their shops rather than going to their competitors’. Sooner or later, inform your future partners that they might not need to spend a dime for it. In the first-class component, there is no capture.
The condition is that they have to make a discount to customers coming from your business. It can be a 50% or 10% discount, a free t-shirt for every $50 spent dollars. Anything as long as they give something to your customers. This is where you need to negotiate. Obviously, a 50% discount is more enticing than a 10% one. In exchange, your clients will have a compelling and money-saving reason to buy your “partners'” shoes, pizza, or have their hairs cut. All because they are using your rewards program.
But why should you worry about growing others’ businesses instead of focusing on yours? Most likely, this won’t directly help boost your business’ productivity. If you think long term, and this is the idea, this is just half of the story.
Closing the circle
Thanks to you, your clients will now enjoy discounts in several places within your neighborhood or community. You are the “good guy” on the block. Not only you help your customers by getting them discounts and extras, but you also help other businesses get (and keep) more clients too. This is called having a good reputation. Which is priceless for any company.
The next thing you need to do is get people to your shop. The difference compared to when you started is that now you have several connections that trust you. Other businesses which you’ve helped grow. Go to each one of your partners and ask them to do the same thing you’ve done: give their customers a discount when they shop in your place. This way the circle is complete, it’s a win-win for all parties involved (called a non-zero-sum game theory).
You can also try both steps at the same time, but depending on the environment you operate it’s going to be difficult for some business owners to trust you and go along with your plan. If you follow the 2 step scenario, it will give them time to know, trust you, and assess if the benefits/rewards program is working for them.
Leaving the competition out of the loop
The final step is to articulate your 2-way network into a full-fledged network. This will require a bigger effort since all the links in the chain have to get involved and cooperate. It will not directly benefit you but it will make the network you created stronger and resilient to possible economic or unforeseen downturns. Hopefully, by this time, your partners will be comfortable with the notion of networking. By tightening up your network of partners you will also increase the chances of customers getting habituated to shop within the network instead of going to your (and your network’s) competitors.
As you may now realize, it’s not about your business alone anymore. Your company is now linked to a constellation of other businesses that not necessarily share your niche. Patrons and regular customers from the other businesses who previously had no connection with you will now have a reason to do business with you; they will save money.
This is just one of the things you can do to think bigger instead of constraining yourself to your own enterprise. Remember, the fact that you are a small business does not mean you need to act like one. Expand your reach, maximize your revenue. All it takes is good PR and moderate sales skills to sell your collaborative project.
Fernando Tarnogol is an Argentinean Psychologist currently working at the Devereux Foundation in Pennsylvania, USA.
He has studied Psychology at the University of Buenos Aires and Human Resources Administration at UADE (Argentinean University of the Enterprise).
His professional experience includes working in HR for HSBC Bank Argentina, two mental health facilities in Argentina performing psychological evaluations and other clinical work and Residential Counselor and two management positions within the Devereux Foundation