In the competitive world of business, owners need to know the right diskarte (strategy) in getting ahead of everyone else. With the boom in online-based shops, consumers are also recognizing how small businesses can offer products and services that are just as good as that of well-known companies and big brands.
However, small businesses need to continue growing in order not to be left behind by the fast-moving market. But with so much competition, how can they compete and flourish?
Here are a few things that can help you and your brand expand.
Establish your identity
Read, research, and learn from management books, articles, and successful mentors who have been in the business for quite a while. Listen to their experiences and observe how they do business. Pick up the right habits and correct the ones that can affect your values as a business owner.
Who you are, what your products and services are, and why people should choose your brand are things that your customers need to be clear about. That is why every aspect of your branding should communicate the identity you wish to be known by.
Do your products and services solve problems that affect customers? Are you honest when doing business? Do you provide products and services to the best of your ability? Let them know why they need to include you in their daily lives.
The answer to these questions is what makes your brand different from others. If your products or services do not stand out in the saturated market, then customers would think twice about choosing you. It is important to establish what your brand stands for and let people know that you exist.
A good marketing plan and your company's values and mission will help establish a strong identity, so it is something you should have regardless of how small your business is.
Make the purchasing process simple
Sometimes customers leave their carts right before payment because the payment process seems unsafe or difficult to understand. So, no matter how good your products and services are, if the payment or check-out process becomes a hassle for them, actual purchases will not be made. So be wise and choose a payment gateway that will help you to track payments, make secure transactions for both you and your customers, and is easy to understand.
Xendit is an online payment tool that is secure and easy to integrate into your business with a mission to help scale homegrown businesses. It offers a quick payment solution to businesses of all sizes.
Xendit has been in the Philippines since 2020 with a growing local team to help cater to the needs of Pinoys and fuel the growth of more SMEs in the country. Xendit believes in the world-class talents and skills of Filipino merchants, that is why it is the company’s desire to help businesses continue to innovate and expand.
Create a strong bond with your customers by letting them know that they can trust you to deliver what they want and when they want it. Customer satisfaction from inquiry, purchase and check out to pick up or delivery will build customer trust. If one of the customers' needs is not met, there is a lower chance of repeated transactions and word-of-mouth recommendations.
That is why business owners need to prioritize customer satisfaction to sustain relationships and trust in the process of growing their business.
Products and services need to grow with the customer and their changing needs. Brands that were once at the top but failed to keep up with their customers eventually lost their status and were either forced to the sidelines or completely abandoned by their once loyal patrons.
The needs of the customers, both present and future, have to be top-of-mind of every business owner. Utilize free tools that can help you manage and boost your business. Brands that continue to change and develop for their customers have higher chances of staying relevant as the years go by.
Remember to innovate, but maintain what your customers love about your brand.
Start small but register
In the past, people believed that they need a large capital to start a business or that you need to hire someone to build a website to start one online. However, both are not necessarily true.
One can start a small online business even without a sizable capital, depending on what product or service they intend to offer. Most business owners choose to start small this way and eventually grow their business from the ground up.
One option would be to utilize social media pages and groups when you are just introducing your brand. Starting this way is helpful as there are no website fees and you can easily reach out to customers immediately.
It is also important to register your business, even when it is based online. Registering your business gives you a proof of legitimacy, which opens up opportunities for you to apply for funding to help your small business grow. At the same time, this also helps build customers' trust, knowing your business is not a scam and is recognized by proper authorities.
Diskarteng Summer with Xendit
Because Xendit understands how new merchants like you need as much help as you can get to help boost sales and establish your brand, it continues to offer ways that will be of service to both sellers and buyers. The company aims to be a reliable fintech partner that continuously works to innovate and provide seamless experience to businesses through cost-efficient services that may allow you to focus on serving your customers.
Xendit also aims to ignite the passion of small business owners and new merchants in growing the business by offering the three-month-long 'Diskarteng Summer' promo.
If you join the promo, you can enjoy cashback on transaction fees and get a chance to win laptops, an iPad, business coaching from the consulting agency of The Apprentice Asia winner Jonathan Yabut, as well as other prizes.
All you have to do is to sign up for an account and start transacting in as little as three days. You will then be able to track payments to your business instantly, automate recurring payments, and provide easy checkout for customers so that they do not have to switch between multiple apps. That is because Xendit is committed to helping empower small businesses with safe and easy-to-use payment solutions.
Now is the time to change the way you do business. See your enterprise grow by using the right tools and knowing how to manage your business, then sit back as queries translate into sales like never before.
To join the Xendit 'Diskarteng Summer' promo, click this link to see a detailed instruction on how new merchants can sign up and win prizes.
For more information on Xendit, visit its website. Click here to learn more about the digital solutions it offers as well as the services specially made for e-commerce.
NOTE: BrandNews articles are promotional features from our sponsors and not news articles from our editorial staff.