At EC Credit Control, we’re lucky enough to work with a wide variety of businesses, big and small. From our debt resolution team to our Terms and Conditions of Trade drafters, we have borne witness to many stories of success and failure over the years. Consequently, we have some interestingly common threads.
We want to see our customers succeed, so in this blog, we share some top tips for small business success. No matter where you’re at today, if you do these things well, we know you’ll achieve great things.
Think about the last time you recommended a business to a friend. What was it about the experience that impressed you? Chances are, it was something to do with the customer service.
Did they go the extra mile to get something to you on time? Perhaps they gave you an added benefit you weren’t expecting or were just really decent sorts to deal with.
One thing we realise is that people enjoy dealing with people. They like to buy from or work with others who are good humans who share their values.
All of this starts with good customer service, which starts with respect for the customer – always. Good customer service builds trust and brand affinity and is more likely to lead to repeat customers.
In small business, it is often easy to do customer service well, compared with larger organisations that have a bigger workforce. Use this to your advantage by:
How many times have you spent hours on the phone speaking to various members of a team who were unable to solve your issue? And how did that leave you feeling afterwards?
Adopting a solution-focused mindset is a great way to set you up for long-term success.
So, what does it mean to be solution-focused? Whether it’s your customer that has an issue, your business, or a debt recovery concern, be ready to be flexible and find a solution to the problem.
Even the best business in the world wouldn’t gain traction if no one knew about it. Having a great marketing plan is about knowing:
This will include capturing your story, what makes your small business offering unique, and defining how you are going to share it with others.
Some key tips for building a great small business marketing plan include:
Many businesses see debt resolution as a necessary evil, but it doesn’t need to be. With a clear and upfront credit management process, no one gets any surprises. This results in a positive relationship with your customer and one you can maintain.
Make debt resolution your friend and start seeing it for what it is – a core driver of healthy cash flow. After all, cash flow is important for any successful business, right?
Here are some ways to embrace a positive debt resolution process in your small business:
Often in business, it’s easy to focus on attracting new customers, as we can feel that is where the demand is highest. However, it is worth remembering that keeping your customers is just as important – perhaps even more so.
Your existing customers may not always shout the loudest for your attention but remember that you have worked hard to get them to work with you in the first place.
Depending on the products or services you offer, your customer base can become the gift that keeps on giving, if you look after them right.
Here are a few ways to keep your customers loving your small business:
One piece of the puzzle we can help with is ensuring your cash flow is healthy, through having a professional debt collection process. You never know what is around the corner but starting your relationships on clear terms creates space for positive outcomes in the future.
Get in touch with our debt management team today, or fill in your details and we will contact you.
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