Expert: How SMBs can compete with big retail
Differentiate or Die
“This may sound like back to the basic, but retailers need to differentiate their offerings and the experience they provide to customers. In this era of rapid commoditization being driven by large retailers and marketplaces, customers will buy from you based on “who you are (we call this the “soul of your company”) and not what you sell,” said Udayan Bose, Founder & CEO, NetElixir.
Care for your customers like they are your family
“Again, may sound very basic, but in a mad rush to acquire new customers, retailers often neglect their current, loyal customers. You simply can’t afford to do that. Build an integrated communication plan for your customers and execute it with discipline,” said Bose.
The Future is Mobile.. actually, the present is mobile
“If there is one predictable bet for every small business.. it is MOBILE. Think of mobile as the internet. Most small businesses are not ready for this, yet. Get a mobile website, today. Capture customer journey data using a standard analytics software like Google Analytics. Build a “mobile marketing plan” to grow existing customers and win new customers,” said Bose.
Go Local
“Identify locations where your brand is more recognized and you have a loyal customer base. Focus on growing your market share in these locations,” said Bose.
