5 Things Every Mom and Pop Shop Needs to Know
While under heavy attack, the neighborhood Mon-and-Pop store survives successfully in today’s world.
Based on his company’s interaction with these establishments, Laurent Therivel, Senior Vice President, Small Business Solutions, AT&T offers five tips on growing even the smallest business.
- Use Data: Data can now be core to decision-making. The average shopper looks for reviews before trying a restaurant, tracks shipment locations online and looks at weather patterns before deciding on what to wear for the day. Just as consumers are using data to inform their decisions, so should you! The term “big data” can be intimidating, but every business can use analytics to operate better. Today’s technologies give businesses of all sizes access to important data. For example, what customers are buying from them, satisfaction rates and what they would like to see change. Use that data to run your business more effectively!
- Embrace Digital: Your voice is your strength. The unique value proposition, personality and flair your business offers are what draws in customers and keeps them coming back. That said, voice is only strong if there is someone to listen. Today’s younger customers become more digitally driven every day. And that demographic could be key to your future success. They are tomorrow’s business leaders, decision-makers and purchasers. To build your brand with this key agre group, you must have a digital presence. Make sure you are using digital tools – particularly mobile – to drive awareness of your business, and to regularly communicate with your customers.
- Stay Safe: Cybersecurity is a core issue for every business. No matter the size of your business, security must be a priority. Your customers want to know when they hand over their credit card details or their name and address, you are protecting that information. You can’t damage that trust. A cyberattack could also result in financial losses or a disruption in your operations. It’s not worth giving hackers the chance. Act to evaluate your security and use the appropriate protections.
- Be Ready to Act Fast: Communication happens instantly on social media. People make purchases with a single click and receive news in real time. With this fast-paced environment, consumers expect businesses to keep up. If a customer has a problem or a complaint, they expect you to troubleshoot the issue or respond in real time. Business decisions happen 24/7, even if someone is on vacation or off site. Today’s mobile technologies and customer management tools make this possible. Your organization doesn’t have to get left behind when it matters.
- The Personal Touch Still Matters: Even with all the technology that we have available, it’s still reassuring to talk to a human being. In many cases, that’s why you’ve been successful. Don’t forget to pick up the phone and talk live to your employees, your vendors, and most importantly, your customers. A spoken “thank you” can be incredibly meaningful, and set you apart from your (larger) competitors. These trends and tips came from what we see every day with small businesses we work with. We hope everyone takes the time to enjoy their favorite family owned business today, and help support this pillar of the business community.