As a small business banking partner, itâ€™s likely that your small business customers are going to turn to you for advice, particularly if theyâ€™re experiencing financial difficulties. Borrowing more money doesnâ€™t necessarily have to be the only benefit they can get from you â€“ what if you could show them how to increase their sales, and subsequently, their profits?
It could be that focusing on closing more sales is something theyâ€™ve shoved onto the backburner while they deal with other problems. Of course, theÂ problemÂ with this is that theyâ€™re ignoring their best source of revenue.
Itâ€™s really important to know their target market, so they understand their customersâ€™ buying behavior and can learn to predict their needs. One of the ways of doing this is to build a database of their customers, and track their buying behavior. Well trained, knowledgeable and friendly staff, as well as the ability to find out whatâ€™s wrong and fix it, are also fundamental things to get right.
Word of mouth is one of the greatest marketing tools a business has, and the most effective way to increase sales. Get the basics right, and word of mouth will take care of the rest.