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Thursday, March 28, 2013

Small Business vs. Big Business

Being a successful small business in a big business world can be challenging, but it’s not impossible! Do you know what it takes to make your small business stand out in a sea of big businesses? Check out these tips from the Tiger Leasing team on how your small business can stand its ground:

Choose Wisely
In order for your small business to thrive, you need to carefully choose the products and services your business will offer. Chain stores and other big businesses have the ability to offer a variety of products, but it’s important for you, as a small business, to narrow your offerings. When your business clearly and thoughtfully defines its products and services, you have the opportunity to develop a reputation for helping people with a specific need or providing products to a niche audience.

Loyalty Programs
People love reward programs, especially if it means discounts or free things. One way to beat big business is by offering programs that reward your loyal customers. Here are a few ways to reward your customers for choosing to do business with you:
  • Punch cards: Give your customers a punch card and for every X number of products they purchase , punch a hole out of the card. Once the punch card is filled, they are rewarded with a discount or freebie.
  • Foursquare Check-Ins: Foursquare is a mobile app that is free to businesses and its users, so why not create a page for your business? Customers can ‘check in’ to your store when they visit and you can place coupons within your business’ Foursquare account for them. This way your loyal customers are rewarded every so often for returning and doing business with you.
  • Points system: Reward your frequent customers with points for every purchase they make. Every so many dollars is a point and once customers rack up X amount of points, they get a discount, freebie or some sort of special treatment.
  • Games: Get creative and make your reward program into a game! Games can help keep customers engaged and entertained while also rewarding them with discounts or free things.
Connect With the Community
Small businesses will often receive strong support from members of the community because they want to see the stores close to home be successful. Instead of doing business with large chain stores, many people are willing to pay a little bit more for products or services from a local small business to help support their community.

Customer Service
Finally, another edge small businesses have over big businesses is the ability to provide quality customer service. Since you probably don’t have as large of a client base, small businesses have the opportunity to offer a more personal form of customer service, whether it is face-to-face or over the phone. Large businesses often have automated customer service lines or require customers to wait for long periods of time to talk to a representative. However, small businesses have the ability to provide quality, local, timely customer service to their customers. For many people, this is reason enough to change up shopping habits.

Small businesses have several opportunities that big businesses don’t have, so it’s important for business owners to use those strengths to their advantage. Do you have other tips on how to make your small business succeed? Share them with a comment or on the Tiger Leasing Facebook page.

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posted by Tiger Leasing @ 2:00 PM

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