• Get FREE SHIPPING on eligible orders over $499

    See details

  • Winter Store: Find essentials for men, women & kids!

    Shop now!

Need help? (877) 837-9569

5 Tips to Use Your Customers to Fuel Business Growth

By: Brittany Engelmann-- 2016-05-13 7:00 am --

It’s tough to run a small business, particularly in today’s economy when an estimated 27.9 million small businesses are dotting the economic landscape. Small business owners need to be savvy and strategic if they hope to remain competitive. One of the most effective strategies for driving business growth is leveraging consumer trends to your benefit. Here are some ideas to use with your customers to improve the growth and profit potential of your small business.

  1. Analyze customer data. Your customer data is essentially the blueprint of your business. It tells you what aspects of the business are performing successfully and what aspects are holding your business back. Track customer data regularly, so you can keep up with the hottest product lines, shopping habits, and consumer trends that are driving your business toward success.
  2. Keep prices competitive. If you want customers to feel satisfied, you need to ensure you’re offering them a great deal. This means that all of your products need to be of exceptional quality and priced competitively. Competitive pricing begins with the right wholesale partner. You need a supplier that can meet your needs as a company and perpetually keep your store stocked with high-quality merchandise at low bulk prices.
  3. Put customer service first. Investing in customer service is perhaps the best tool for growing your business. Customers care deeply about the level of concern and commitment they receive from a business, and a simple positive interaction with your company will considerably increase their potential of returning to your store. However, customer service is about more than just positive interactions with customers. You need to consider their entire shopping experience from the moment they enter your store. By keeping the bathrooms clean and stocked, ensuring you always have enough staff available, and providing fast, friendly, and engaging service, you’ll increase their likelihood of returning.
  4. Interact with customers in real time. Use social media, webinars, and other mediums to interact with customers in real time. By interacting with customers in real time, you can improve the customer experience, make your business seem more approachable, and provide your customers with an increased level of care, all of which are conducive toward customer satisfaction and retention.
  5. Make your customers your primary advertisers. The average small business spends about 10.4 percent of their revenue on marketing. However, with an excellent word-of-mouth marketing strategy, you can reduce this number while improving your marketing potential. Word-of-mouth marketing can work for or against your company, depending on how you approach it. A dissatisfied customer will tell about eight to 10 friends, while a happy customer tells two to three friends. The best way to promote word-of-mouth marketing is through exceptional customer service, a stress-free shopping experience, and incredible product lines, so customers spread positive opinions about your store.

Operating a small business is an ambitious undertaking. Running a business is an art form in itself, and much like art, no matter how much you tweak it, your business will never be perfect. You need to constantly innovate ways to improve the efficiency, profit margin, and customer experience, so your store will continue to grow. The first step in improving a business depends on your suppliers. With the wrong supplier, you’ll be battling low profit margins, poor growth rates, and dissatisfied customers. Contact us today to see how our wholesale supply company can support the goals of your business and improve your profit margin, while enhancing the customer experience.