How To Do More With Less When Running A Small Business

Your business may be small, but your goals are big. One day, you’ll be recognized as a leader in your industry, and be paid like one too. But for now, you’re pinching every penny until it screams for mercy.

How can you manifest your vision of success when time and money are short? Use these budget-friendly strategies to increase your customer retention while making the best of limited resources.

Make Them Happy

According to a recent customer satisfaction survey, 65% of participants prefer companies that care about the people they serve. Show your clients how much you appreciate them with these cost-effective customer service tactics.

  • Give them your personal attention. Send birthday email greetings each year. Include a thank you note with a discount code with ordered items. These small gestures can pay off big in brand loyalty.
  • Listen to them. Online contact request forms let customers leave the details of their issue any time of day or night. Instant chat capabilities on your website let your customer ask questions and resolve problems in real-time.
  • Take them seriously. A recent research study found that existing customers are more likely to try your new products. They also spend more than new customers. When a customer has a complaint, do your best to make it right. Customer retention saves you time and money in the long run.

If you can’t find the time to return calls, hire a virtual receptionist. Professional customer service agents will give your customers the personal attention they crave.

Use Your Resources Wisely

You need both time and money to make your business grow. Use these simple methods to control your most important resources.

  • Prioritize. What tasks are essential to keeping your business competitive? List them along with how much time you need each week to get it done. Use this information to create a daily to-do list.
  • Leverage your brain power. Online classes can teach you the basics of web design, bookkeeping, and other vital administrative skills and you can find classes that are free.
  • Keep an eye on your (ROI). Are you spending too much on materials? Are you pricing your products too low? Are your advertising methods really working? Periodically, review your spending to ensure you are staying on course.

Attention to detail, effective planning, and passionate determination are the strategies that will help take your small business from obscure to the Fortune 500 list.