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.
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.