Tag Archives: customer

Strategic Business Partnerships Grow Small Businesses

Developing strategic business partnerships should be part of every small business owner’s growth plan for the company. A strategic business partnership has several benefits for the companies involved including: access to existing customers, quick penetration into new markets, enhanced branding, and others that may not be so apparent such as cost reduction benefits from utilizing a partners employee base or getting price breaks from suppliers due to an increase in orders to fulfill new demand. The best business executives and small business owners understand that it is very difficult to execute growth plans alone and aligning with other companies that have mutual interests and a shared target demographic is the right solution. Building a successful business partnership has its difficulties and limitations as well, but the time spent in researching, negotiating, and finally implementing a new strategic business partnership can result in a tremendous return of investment that would rival any internal efforts in the same amount of time.

Find New Customers in Target Markets

The cost of acquiring a new customer is never cheap. However; by aligning with the right partners that can deliver clients a small business can then focus on providing a high level of customer service and getting the most out of what strategic business relationships provide. After a company’s executives have decided that forming business partnerships is the right path for the business, it’s important to research and identify a strategic business partner that can either lead you to many future business partners or has a large existing customer base in the area you intend to service. Just because a company has a large number of customers and they’re in a similar industry does not always mean they will be the right choice. The potential new customers need to be in a geographic location that you can easily service unless the partner is willing to take on additional roles and responsibilities, which could range from sales calls to product delivery to customer service.

Strengthen Brand and Marketing Capabilities

The right strategic business partner should elevate the business’s brand and reputation in the industry that it services. When researching and identifying a partner make sure to take note of how the other company is viewed by its customers, competitors, and the market in general as any positive or negatives will rub off on your brand due to the execution of a business partnership. This can be the quickest way for a small business to achieve name recognition within its industry, by developing a relationship with a large business that already commands respect and is known for delivery high quality products and services with excellent customer care. It is critical during negotiations to fight for co-branding, which may be difficult depending on the nature of the business relationship. If a major concern is being overshadowed by a partner in marketing due to their size and resources than it’s important to make those concerns known prior to moving forward. However, for many small business owners the right strategic partner may be simply white labeling the product or service and not co-branding at all in order to provide a seamless experience for their customers. If the revenue numbers are going to be high enough does it really matter, whether or not the end customer knows the brand?

Growing a business is never easy, but with great partners it can be much more rewarding experience. A small business owner that embraces the ideas of forming strategic business partnerships that are mutually beneficial is much more likely to succeed than the one that wants to go it alone or do it their own way every time.

Point of Sale Stands – Highlighting Your Products

A retail business sustains in attracting the customers into the shop and convincing them to purchase items from you. No matter how much amount you spend for advertising and marketing, if a customer who reaches your shop finds all items in disarray and is frustrated, you lose the purpose of your marketing. This is where a point of sale stand can help.

Displaying items on a point of sale stand has many advantages. Let’s check out a few of them.

1. Point of sale stands help in highlighting the products and attracting the attention of the customers. While items are stacked on shelves that are closed or unreachable, chances are that the customer wouldn’t check them out. Whereas point of sale stand is reachable and open, thus letting the customer check out the items. 2. No stores today keep things away from the reach of the customers, especially in supermarkets. Customers are also more comfortable in picking up the products, checking the information and price provided before purchasing an item. Point of sale display stands help in providing this accessibility for the customers to the products. 3. Whether your shop is big or small, you cannot put one employee each for every customer who comes to your shop. And if the customer cannot find what he needs he feels neglected, and the result is almost always a lost sale. Point of sale stands are a great relief in such cases. Displaying the products along with the necessary details that the customer is supposed to know, these stands reduce your efforts and save your time as well as the customer’s. 4. Point of sale display provides maximum information regarding a product at one go. Whether it is about the use of a product, its cost, its dates of manufacturing and expiry, the customer can easily know all of them without any assistance from you or your staff. Again, this helps a lot in saving time and effort from your part.

Point of sale display stands are not only used to display products today. They are also used in displaying brochures and leaflets regarding business or products. In fact, they are used today in not only retail shops but also in corporate offices, commercial places like hospitals, shopping malls, movie theatres, etc. where you can find information related to the operations handled in these places. Moreover, providing these leaflets on point of sale stands has a marketing benefit as well. Customers are sure to check them out and probably keep them for reading later.

While choosing point of sale stands for your business, do take time to check what would suit your business. You don’t want to get one that is too big for your business and then make it look empty later neither do you wish to get a small one and stuff it with items. Remember, a product that is well displayed is half sold.