A new year brings new opportunities and also new challenges. Being open to change is vital to success in business. Opening your mind to new ideas, processes and customers can take your business in directions you never thought possible. According to a 2016 survey by global consulting firm Deloitte, executives “recognize both that the future of work will be very different from the way things have happened in the past and that their roles need to adapt to the new organizational environments they will be leading.”
Of course any business strategy should start with great customer service, but after that the opportunities for being successful are endless.
Here are four ways to “change” your business:
1. Be aware of trends.
Online shopping continues to rise, with e-commerce sales predicted to grow by 17-19 percent this year. Mid-sized retailers that focus on niche products and experiences are in the best position to outperform, and Forbes predicts that the most successful organizations will integrate their sales and content marketing to further serve customers online.
2. Offer plenty of payment options.
With online shoppers used to ordering at the click of a button, it’s imperative that you make it easy for customers to purchase. Go beyond the credit card and give your customers options to use their debit card, Paypal and even Apple Pay and Google Wallet.
3. Don’t forget about millennials.
While this younger age group used to cruise the mall together, now they text photos and opinions of products to each other. Your website, social media channels and online reviews will be crucial to this shopping set, so be sure to post plenty of photos for them to share.
4. Market to loyal customers.
Every business wants to attract new customers, but make sure you don’t neglect your old ones in the process. Things like personalized discount codes, regular promotions or even just a card to thank them for shopping with you can make loyal customers feel appreciated — and keep them coming back.
MidSouth Bank would like to help your business succeed in every way possible and has partnered with First Data, a leader in payment processing solutions, to offer easy and affordable merchant processing programs to meet today’s consumer demands. For more information on improving your business’ strategy, contact MidSouth Bank Cash Management Director Pamela Judson at 800-213-2265.