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Competing with Other Businesses in a Competitive World

Posted on 27 March, 2015
Competitive World

Source: Flickr CC

A small business must fight to survive in such a competitive world. First, the business must offer a product that differs from all other products in the vicinity. The business must implement an advertising plan that gets the word out to as many people as possible. Finally, a business must be highly accommodating to its customers. The following are some ways that a modern small business can accommodate its customers:

Offering Coupons and Discount Codes

A small business can show its customers appreciation by offering them coupon codes and discounts. Sometimes, customers need to know that businesses appreciate their patronage, especially since they could choose to conduct their business elsewhere. Issuing occasional coupon codes and discounts show that appreciation. Existing customers will be happy, and they may spread the word about the business to friends and family members.

Accepting all Forms of Payment

Nowadays, a business can hardly survive if it does not accept payments with credit cards and debit cards. More than 80% of consumers use credit cards, and many of them prefer to use those cards to carrying cash. A majority of those customers will shop elsewhere if someone asks them to conduct their purchases with cash. Consumers do not usually return to a business that has restrictive payment terms.

A small business could suffer greatly if it does not use a modern payment system for its clientele. Merchant accounts are necessary for a business to conduct credit card and debit card processing. A merchant account is a special bank account that allows a small business to accept such payments. Signing up for a merchant account is one of the easiest ways a business can accommodate its customers. Many merchant account providers have excellent deals for first-time users. An interested person will want to conduct research to find out which deal is best for his or her business.

Providing Friendly Service

Finally, a small business can accommodate its customers by hiring friendly and personable customer service members. Many establishments have lost sight of the importance of a smiling face and a helping hand. Giving customers a genuine experience when they enter the building is the best way to show them that they are special.

The previously mentioned tips will help a small business to obtain a strong reputation. Such practice will bring new customers into the business through referrals as well.

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Bad credit merchant account credit card processing services

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Regardless of Credit History!