SMB owners, specifically those in retail, must struggle with ever-tightening profit margins. Yet at the same time, customers increasingly expect and seek out price discounts. How to square this circle?
Many SMBs are learning to utilize the advantages of their small size to provide a more holistic, gratifying customer experience. This allows them to win over customers without uncomfortable belt tightening. These are some ways to make this happen.
Beyond being a platform for online sales, a powerful website is essential for any small business. Websites help promote new product lines, provide hubs for email traffic, and even drum up excitement for a big event with a countdown clock.
Mobile devices are central to today’s shopping experience; the right website should be designed to accommodate mobile shopping. By transforming personal phones into points of sale, a website expands the perimeter of where and when a business can sell.
Customers like to be recognized when they make purchases; successful small business owners often know their patrons well. This can weigh heavily when making purchase considerations.
To augment a personal understanding of customers, data can be collected using point of sale tools and analyzed with the help of AI platforms. From this, profiles can be generated to market more effectively to regular customers and prospects alike.
One expectation customers have when ordering is free shipping. While this can seem nearly as costly as discounting, in fact it has become a price of doing business that more small business owners accept.
Advertising free shipping is a way of marketing implicit cost savings customers want. It also offers the convenience shoppers increasingly expect.
One way to save on delivery costs is by offering bundled items at a slightly lower price. A less direct type of discount, bundling incentivizes customers while getting them to consider other purchases with you, both today and down the road. This will make them more beneficial to your business.
The customer appreciates the convenience of being able to simultaneously consider two related items, say a shower curtain alongside a bathmat. The SMB owner increases their earnings while showcasing other parts of their total inventory.
In-store connectivity helps small business owners do all of the above, whether powering a website, collecting sales data or using AI to anticipate buyer behavior. While a strategic discount will help land a sale, having the right technology at hand puts your business in the right place to accommodate many more of them.
Interested in learning more? Check out what Spectrum Business can do.
Yes. It’s easy to transfer your existing number when switching to Spectrum Mobile for Business.
Your data is still unlimited, but speeds may be reduced after 30 GB (Business Unlimited) or 100 GB (Business Unlimited Plus).
Absolutely. Bring your own phone or choose from popular brands like Apple, Samsung and Google.
No. Our plans are contract-free, so you can adjust as your business evolves.
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