Know Your Customers
How can you expect to grow if you don’t know your customers? Knowing your customers means you can change what you offer to ensure you sell more. It’s easier than you think too. There are lots of ways you can get to know customers. Feedback is a great one, and this user research guide can help you. The simple fact is that you need to follow trends to ensure you stay viable in the marketplace you operate in. It also depends on whether your business lends itself to the same customer coming back for more, or if it’s more of a once and done product. Either way, knowing your customers will help you grow properly and save you money.
A lot of businesses expand into different areas. For example, a business specialising in organising school trips, might branch into organising general holidays. This can help you through tough times as long as you do it right. The trick is knowing you’ll be a success before spending the money, it’s impossible. Try to look at similar businesses which have grown into success in a different area. If they can do it, you can. Research makes all the difference here, don’t spend the money before doing the research. Think about how you’re going to expand and when would be best to do it. A simple example would be expanding into the online marketplace, if you’re only on the high street.
Open Your Payment Methods
It sounds pretty basic, but you’ll get far more custom with more options. If you only take debit, expand to credit too. Make sure you use Apple and Android pay, because the ease of use attracts a lot of people. Also, there are lots of buy now pay later options at the moment, such as Klarna and other similar options. The ability to pay in installments makes a huge difference as it makes the item far more affordable and even appears cheaper. This is especially impactful if you sell items which are quite expensive such as TV’s, or computers. The benefit of using these companies is that they usually do all of the credit checks for you, so you know you’ll get paid.