As you take a moment to reflect upon your business, what has you somewhat concerned?
For many business owners, the fear of ending up in the red with money is usually the major concern. Whether a slowdown in sales or budget restrictions on promotions; some feel a pinch. When sales and promotions come crashing down, times can become tough. That said, how can you put your brand in a better position to succeed as you move through the second half of the year?
Let Consumers Know How You Go About Your Business
So you can be ready for when times may get difficult remember promotions and customers. Both are essential to you having a winning small business for years to come. If you’ve lost a little focus on one or both as of late, refocus your efforts on the two moving ahead.
You are never helped in cutting your promotions budget down to the bare bones.
One of the best ways to get the word out to consumers is of course through brand promotions. Even if you need to cut back to a degree, do not end them all. If you’re finding brand promotions are costing you, look for some less expensive ways to spread the word. Among them:
- Social media – One of the cheapest ways to alert consumers to your brand, social media is a necessity. In using social networking, be sure to impress consumers with all you have to offer. Also make sure that you engage consumers when they come to your different social sites. See what consumers are saying about competitors and check out respective social sites.
- Word-of-mouth – One of the best means for getting your brand’s name out there is word-of-mouth. One of the easiest ways to get consumers to spread your brand’s name is by giving them great deals and service.
- Networking – If within your budgetary means, be sure to get out and promote your brand in and out of the community. This includes local events, networking conferences, trade shows and more. If you have the opportunity to be a sponsor for an event, those are good brand opportunities.
All the brand promotions in the world won’t help you if word gets around your business is failing. If you’re not doing enough to promote your business, that falls back on you. What about when some of your customers are actually the problem? How do you rectify that issue? Be upfront with your customers, letting them know that you at least expect them to be upfront with you too.
One of the biggest customer issues you can end up with is when they choose not to follow through on paying you. If you tend to overlook that issue, stop that today. Remember that your customers can damage your brand more so than a competitor ever could.
An example of this is when a customer decides he or she will not pay you for the product or products they purchased. No, it isn’t shoplifting, but the damages can be as severe. Those chargebacks can end up costing you quite an amount of money over time, so don’t pass over them.
By having the right chargeback prevention, you can avoid some financial headaches. A cardholder dispute resolution network means the chargeback is on hold for up to three days. It redirects the cardholder issue at hand from the bank to you (business owner) in an expedient manner. With that information in-hand, you can review and take care of the problem before it gets out of hand.
So, doesn’t nipping as many problems in the bud beforehand sound like how you want to go about your business?
In socializing your brand’s positive aspects, you stand a good chance of making it for the long haul. As such, isn’t that what you thought of when you got into business for yourself in the first place?
About the Author: Dave Thomas covers small business and social media topics on the web.