Offer exceptional customer service

Once you’ve started to attract customers, your next challenge is to fight to keep them! One of the best ways of retaining your customers and gaining their loyalty is by offering exceptional customer service. This is a great way of adding value to your business at zero cost. When money’s tight, your customers expect more for their spend. You must keep them happy. Make sure every element of your business from enquiry to bill settlement is client-focused and friendly. Going the extra mile will win you no end of free publicity.

Price based on value

Never price solely to undercut your competitors. Compete first on the quality of your offering – if truly only you can offer xyz solution: you should be able to charge a premium for it! Only compete on price once your product or service has become a “commodity” and at that point…it's time to look for new opportunities to stay ahead of the game!

Should or could you diversify?

Diversifying is a great way to grow a small business. It allows you to have multiple income streams; fill seasonal gaps in your income and increase your bottom line. That said it has to be logical! In a weak economy diversification may be your best friend. The more services or products you offer, the more clients you’ll be able to find. Think about it: if you provide domestic electrical installations, why not become an agent for domestic electrical goods? No matter what business you’re in, with a little imagination you should be able to develop several “new” offers, all of which will help keep you ahead of the competition and gain the loyalty of your customer base.

Do you experiment?

When was the last time you tested a new way of promoting your biz? There are hundreds of ways to market your business in this day and age. From social marketing at one end of the spectrum to door-to-door sales at the other, make it your priority to test at least one new marketing method every month - it's not as difficult as it sounds!

Get a plan

Every business needs a marketing plan. Ideally it should come before any investment or risk-taking, but if you’ve already made the investment and taken the risk, don’t wait too long to get your marketing plan together. Start by looking at your objectives and how you will measure them. Then look at your offering: how you can communicate it to your potential clients and how you will differentiate it from your competitors offerings? Identify your target market: who are they?; where are they?; why do they buy?; when do they buy? and how can you get in touch with them? Set aside a realistic budget to get your message out. There’s no point in investing thousands on your offering if you don’t leave any funds to tell people about it! Keep your plan alive, keep it interesting and keep it current.