If you are reading this, chances are you’ve recently opened a new business or want to expand your territories.
At the mention of business success, most people’s minds shift to huge revenues, but it is important to note that success is not a one-size-fits-all proposition.
Some companies get massive revenues in the first few years, while others wait for decades.
So, how do Londoners starting out with a new business or aiming to expand ensure they are set up for success?
Read on to find out.
1. Offer variety in the payment methods
Variety is everything when it comes to business success. Besides offering quality products and services, ensure your customers have various payment methods.
A recent study shows that clients are more likely to complete transactions if they find their preferred payment methods on your website or at your shop.
This minimises cart abandonment and wholesomely improves customer loyalty.
Apart from incorporating regular fiat methods, consider including modern digital payment options such as cryptocurrencies.
Today, we have established providers such as Mountain Wolf.
With the Web 3 Card with crypto top up, your clients can easily make payments to your business.
This digital payment method is safe and requires no tedious verifications to complete.
The best thing about accepting crypto cards is that nothing has to change as those cards behave like normal debit cards.
The consumer does not have to change behavior, the shop owners do not have to change anything in terms of infrastructure.
2. Implement proper marketing strategies
Marketing is key in mapping your business journey. This will help you track your goals through Key Performance Indicators (KPIs) and measure your success.
Fortunately, most marketing mediums allow you to track your progress, as they have analytics.
You can begin by using social media advertisements, paid advertisements, or even influencers.
When choosing influencers, ensure you pick those who relate to your business and have an impact on their followers.
Whether they are macro or micro-influencers, ensure they understand your business and what you stand for.
3. Engage your employees and care for your customers
Regardless of the kind of business you run, you will always be involved with people.
Whether you sell software, run a restaurant, or own a mowing company, you need people to grow.
The first thing you should do is get a more engaged workforce.
Ensure your employees are well engaged and taken care of. Have them attend workshops and bonding sessions with each other to foster collaboration.
Also, ensure their safe and comfortable environment to minimise absenteeism at the workplace.
Even better, consider having hybrid working structures so they can have ample time with their family and loved ones.
As for the customers, focus on serving over selling. This is a long-term approach that focuses on building a relationship with them.
If you make people feel good, they feel good about buying from you. Serve them and earn the right to sell to them.
Once they are satisfied, you can upsell and cross-sell to the existing customers.
Conclusion
Success in business cuts across various sectors. However, the most important ones are client retention and revenues.
To retain your customers, you must provide quality and value to them.
Begin by availing a list of safe and convenient payment methods to your clients.
Secondly, plan and implement the ideal marketing strategies to get your brand out there.
Don’t forget to engage your employees and take care of your customers.
These are the people who will take your business in London to the next level.
Picture credit: Free to use from Unsplash
Join the discussion