Small Business Retailing 101: You Are Your Unique Selling Proposition
As a small independent business competing for sales this holiday shopping season you know that every customer counts. You don’t have the capital to invest in paid advertising let alone the resources to create a marketing campaign that stands out and engages potential customers. Inevitably small independent businesses like yourself first reaction is to rush to offer discounts. In this coupon driven economy it is a rational tactic that drives sales but a small business that leads with price as differentiation runs the risk of diminishing their overall brand value.
Research shows that a growing consumer base desires authentic connects with brands they are loyal to. They also believe that small independent businesses offer unique and distinctive gift options. Additionally, shoppers believe that small independent businesses offer great customer service. This perception is based on the customer’s assumption that it is the owner or sales associate that sees themselves as stakeholder in the business. They believe in the brand and thus are committed to the prosperity of the business on a personal level. This motivation drives a superior experience for the customer. These sales encounters are the beginning of a relationship and the foundation for customer loyalty.
On average brand loyalists and repeat buyers make up 75% of retail sales nationally but are only 25% of an retailer’s customers. The cultivation of brand loyalists and repeat buyers starts with that authentic interaction between you and your customer, whether in person or even online. Being authentic begins and ends with presenting who you and what your business truly values. Value is based on much more than price. For small business retailers it is fulfilling the promise that you are unique and committed to a superior customer experience.
Playing to your strengths is as simple as being who you are and developing a genuine and authentic brand based on trust one customer at a time.
Be a part of the Shop Local Colorado Springs collective marketing program. Visit us at www.ShopLocalCOS.com to learn more. To join us today email us at moc.e1498453643vitae1498453643rcreg1498453643rebhs1498453643reha@1498453643ofni1498453643 or call 719-964-6617.