Attract and retain customers with Paycorp’s business tips
August 31, 2017 1:41 pm by Bronwyn Watt
Customer behaviour is highly unpredictable in today’s dynamic business environment. Faced with several alternatives to choose from, customers may be more knowledgeable, but are harder to understand. They change their consumer needs, buying behaviour and brand allegiances at whim. Small businesses that don’t have the brand equity or storied reputations of big companies need to work harder to attract and retain customers. But harder does not mean impossible. It’s as easy as equipping your business to accommodate unpredictable consumer patterns and meeting your customers halfway. Here are a few handy tips to help your business along.
Let the revenue streams flow
Adding extra revenue streams to your business is one of the best ways to get new customers and to keep the satisfied ones. For instance, affiliate sales from partnerships with other businesses can expose your products to a new market in a new location. Subscription sales for products such as newspapers, magazines and wine are good for retaining the existing customers of your retail business. High-demand prepaid services such as airtime, mobile data and electricity are also excellent revenue-generating additions. When you get a Kazang terminal from Paycorp, you can sell these prepaid services and more with the convenience of one device that is easy to manage.
Go to the market
Take your business to potential customers instead of waiting for them to come to you. Markets are a smart way to introduce your business to a new area or to test out new products. So maximise on the spendthrift attitude of market-goers and get a stall at your local market. Stand out from neighbouring stalls by ensuring that you have clear and commanding signage and an intuitive layout. It’s crucial to promote yourself before (using social media) and during (using merchandise and freebies) the market. Most importantly, you must be able to accept a range of payments – not just cash. You need an mPOS (mobile point-of-sale) device like ZipZap from Paycorp to achieve this. ZipZap is fast, reliable, 100% mobile and an exceptional way to guarantee that you close every sale.
Turn to technology
There will always be new and better ways to connect with customers, so use them. For example, beacon technology is changing the way retailers interact with their in-store customers. The technology (Bluetooth low-energy beacons) allows Bluetooth sensors to send messages to, and prompt action from, smartphones within range. Beacon marketing cuts through the noise and delivers messages that consumers want to hear when they want to hear them. It also enables hyper-personalised marketing, which leads to improved customer retention and satisfaction. Locally, selected iStores, Timbercity stores and Kelfords dealerships have already started using beacons.
Subscribe to the Paycorp blog below and get business tips, industry news and product updates delivered directly to your inbox.
Categorised in: Blog