Wal Mart was a disruptor for local small businesses. Amazon.com was a disruptor for Wal Mart and of course ANY other retailer. With Amazon.com testing the waters of opening a local store, as reported by the WSJ, the differentiation you offer to your customers is even more important.
At the Wix Small Business Breakfast earlier this week, this question was brought up – how can we compete with big retailers. Shopkeep is going to touch on this at the Small Business Summit.
It is TOUGH to compete with big retailers but it’s possible.
- Know your customers.
- Go narrow – don’t sell to everyone
- Leverage technology, such as CRM to get to know them better, anticipate their needs and overall follow the principles of Attract, Sell, Wow
- Know who your competition is and anticipate your customer’s like or dislike of what your competition is doing
- LOVE your customers. Wow them, delight them and create an emotional connection with them . Beyond the transaction.
Keep your head up, don’t fear and LOVE YOUR CUSTOMERS.
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Ramon Ray, Editor & Technology Evangelist, Smallbiztechnology.com . Editor and Founder, Smart Hustle Magazine Full bio at http://www.ramonray.com . Check him out on Google Plus, Twitter or Facebook