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Your small business is more than a passion, it’s a pulse – a vital force that can help foster deep human connections in your community. And chances are, you may have felt the impacts of these connections in full force. To help transform your revenue year-round, consider strengthening bonds with your fellow small-business owners as well as new customers. The following promotions strategies may help you boost customer loyalty and your bottom line.
Curate Your Small-Business Connections
Referrals from existing customers could be considered the lifeblood of some businesses. They can also attract new customers that may pay dividends in all seasons: other small businesses. And while there’s an inarguable benefit to building relationships with a wide array of small businesses in your community, you can help maximize those benefits by focusing on synergy.
“Many businesses, especially small businesses, may worry that having a loyalty program will teach their customers to wait for a sale, but I find that not to be the case.” —Jennifer Johnson, owner, True Fashionistas
Synergistic businesses can benefit from one another’s customers. For instance, a juice bar could benefit from the personal training studio next door. A local grocery store and a shop that sells an array of reusable totes could team up. Community-based relationships are as much about individual success as they are about shared prosperity.
Making it work for your business: Try crafting a short list businesses with whom you'd like to share customers.
Once you’ve made your shortlist, consider meeting with relevant business owners to discuss possible referral perks you can offer one another’s customers, such as discounts and access to special sales. As an added bonus, you could develop co-marketing strategies with your business partners to help cultivate your shared customer base.
Leverage the Power of a Loyalty Program
Creating loyalty programs has served Jennifer Johnson, owner of Naples, Florida-based True Fashionistas, a brick-and-mortar resale shop offering everything from clothing to furniture and home decor.
A few years ago, Johnson launched a customer loyalty program that awards customers points for each purchase and allows them to redeem points for future discounts. Not only was the program a smashing success, but Johnson made it part of her store’s cornerstone marketing strategy.
“We have now been able to translate that same program and integrate it into our online platform so our online customers can enjoy the same benefit,” says Johnson. “This program alone has increased sales for us by at least 25%.”
Making it work for your business: Consider launching a high-benefit program with minimal effort.
Small-business owners can have multiple turnkey loyalty program options that seamlessly integrate with their point of sale (POS) systems. POS platforms can help you make every purchase count for your customers – even when they shop online. These platforms can also help make it easy to offer program members access to exclusive sales throughout the year. And if you’re worried about a loyalty program chipping away at your margins, think again.
“Many businesses, especially small businesses, may worry that having a loyalty program will teach their customers to wait for a sale, but I find that not to be the case,” Johnson says. She notes that her program entices customers to spend – and in some cases, spend more – because they know they can save some extra cash, even in the already-discounted resale and consignment world.
Energize Your Customer Experience
To help your business win new customers, think of ways to embrace the spirit of discovery year-round. This is exactly how Katie Sarna, founder of California-based Santa Cruz Fungi, keeps customers coming back when they indulge in Benni Pops, her company’s superfood popsicles that are made with mushroom extracts.
“We love to do gifts-with-purchase to show appreciation to our customers for shopping small,” Sarna says. These gifts help customers discover new products, flavors, and brand-exclusive experiences that keep them coming back.
Making it work for your business: Consider using gifts-with-purchase to help keep new customers engaged.
A gift-with-purchase strategy isn’t just a powerful way to thank customers who choose to shop with you on the big day. These point-of-sale perks can also help you build deeper relationships with your customers and keep sales flowing throughout the year. Santa Cruz Fungi uses a gift-with-purchase strategy to welcome new customers. From there, it leverages email and social marketing to keep customers coming back for more than just its frozen treats.
For starters, the company hosts a series of popular in-person mushroom classes. Existing customers get first dibs when sign-ups open. The brand also believes that every customer interaction is an opportunity to reinforce their ethos: Their ingredients are locally sourced and, when not, ethically sourced from global partners committed to ensuring living wages for workers – all of which reinvest in their respective local communities.
Strengthening Your Business Starts Today
Small businesses in every community can connect with customers on a deeper, more lasting level. Using strategies like the ones above can help your business attract new customers, reward them for shopping at small businesses, and keep them coming back for more.
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