So, you are a small business owner. Here are our top 5 small business tips — each one is a simple action that is easy to start doing today. Without further ado, here are our top 5 small business tips:
1. Collect customer email addresses
This is first on our list of small business tips because it is the most important thing you can do right now. Your customers are the lifeblood of your business. You need to be able to get in touch with them! Once you build that list, you can say hi, invite them back, and let them know about new products!
2. Keep good records
What are people buying? What are they returning? What items are flying off the shelves fastest? What items are selling the most slowly? You need answers to these questions so that you can effectively manage your expenses and marketing efforts.
3. Feature your business name prominently wherever possible
You want your customers to have the name of your business on the top of their minds and the tips of their tongues. They should be reminded of your business name at every point possible; this can include everything from receipts to bags to email confirmations. A cost efficient idea is to get custom printed tape to seal up your boxes for shipping. You can get it here or here.
4. Ask customers for feedback
When you ask customers for feedback, they feel valued and can tell that you care about their needs. Furthermore, they are a goldmine of information for how you can improve your business. Listening to their ideas and requests is a two-for-one — two huge benefits for one simple action! This is the most fun of all of our small business tips! Who doesn’t love chatting with their best customers?
5. Give something special to your best customers
This is last on our list of small business tips, but don’t mistake that for it not being important. For most businesses, 80% of revenue comes from 20% of the customer base. It is very important important to keep your top spenders happy so that they continue to come back to your business. The easiest way to keep them happy is with free gifts or periodic discounts. Ultimately, this will lead to more long term revenue for you and your business!
That’s it. 5 simple actions for you to make a part of your routine. These small business tips will lay the groundwork you need to do effective marketing, manage your expenses, and keep your customers happy!