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If you are a Small Business most likely you are experiencing a change in consumer behaviour as cost-of-living pressures impact their spending habits.

As an operator you can't afford to ignore or wait! Now is the time to think, act and adapt to the situation. Human behaviour is ever changing just as too is the marketplace.

Key to your Business survival is understanding those behaviours and developing agile Business strategies to make you fit for purpose, for now and the future! 

It’s understanding the changes and finding ways to respond to have, get and keep market share.  

Tick-box Tips for Businesses How to Respond Effectively:

• Enhance Customer Communication and Engagement
• Rethink Pricing Strategies and Offerings
• Provide Value-added Services & Benefits
• Develop Your Team

• Explore Collaboration's and Relationships
• Embrace Technology

Enhance Customer Communication and Engagement:  Put a face to your Business, share your Company’s story, vision, personalise interactions, and take a social but professional approach in your communications. Be active in the social media space, show, tell and sell your Business, the web is your oyster.

Rethink Pricing Strategies and Offerings: Importantly be prepared to explore the various pricing strategies (Cost-plus pricing; Competitor based pricing and Value-based pricing) and adopt what approach best suits your Business and situation. Asking customers and staff for feedback shouldn’t be overlooked they are at the forefront of your service.

Provide Value-added Services & Benefits: Consider different pricing paradigms such as Off-peak pricing, Upfront fees, and Subscriptions models.  Loyalty and reward bonuses can be winners. Who doesn’t want that free 5 cup coffee?

Develop Your Team: Invest in your Team by creating a workplace culture that fosters healthy communication, individual responsibility, commitment and team effort. Lead by example and reward good work and results.

Explore Collaborations and Relationships: Whatever your location you are part of a community, whether local, Industry connected or wider networks. Engage with and in these to foster and build networks and possible alliances, cross promotions and joint marketing campaigns. Its amazing what opportunities you may find.

Embrace Technology: it’s the now and the future way. To compete in the market adopt digital solutions for cost optimization and introduce process automation to improve efficiency and reduce expenses.

Tick the box on these strategies to uptick your Business successes