Long-term business goals. Every business owner wants to make money, but what happens after that? Companies with specific, far-reaching goals for the future – to become the best in their field, to change the world – will attract and retain better talent and more customers. We want to believe we are doing more than buying widgets. Customers and employees want a mission to believe in.
Understanding your customers. You love your business. But have you thought about why someone else should? Understanding your customers wants and needs will help you determine how to create messaging about your products that really speaks to them. As a business owner, you have an intimate knowledge of your products and services. Research what aspects of your product or service speak most strongly to your customers.
Fulfillment. It sounds boring, but fulfilling customer orders on time and on budget is a huge part of your small business’s success. While you may be fine getting an order out four or six weeks after it’s come in, and not too concerned about it arriving in one piece, these sorts of experiences with your product can destroy customer loyalty. This, in turn, will have a negative effect on growing your business via word of mouth. Look for fulfillment services like Goodwill Industrial Services that have a great reputation in the industry. Ask for a free tour of their facilities.
Customer loyalty. Concentrating on new sales and acquiring new customers is all very well and good, but did you know that for most businesses, 80% of their sales come from just 20% of their customers? Identifying these customers and providing perks and promotions specifically targeted to them can increase your sales dramatically. Your loyal customers will also be the ones to get your business through rough times. So ensure that you are taking great care of them!