When trying to juggle multiple responsibilities, including making the most of the company’s working capital, many small-business owners can easily end up making mistakes without realizing it. Owners need to be focused on an overwhelming amount of information, and with so much to focus on, even the most diligent owners can let crucial tasks slip through the cracks. While it can feel nearly impossible to focus on every last variable involved in creating a successful business, there are certain steps owners can take to ensure they’re not making any costly mistakes that can negatively effect the business in the long-term.
Here are three mistakes some small-business owners overlook:
- Not admitting you’ve made a mistake
If something goes wrong with a shipment or a product, admit the mistake and provide a way to remedy the situation. People, especially customers, don’t want to hear about technicalities or what should have happened – they only want what they purchased. Forbes recommended owning up to the problem as soon as possible and offering the aggrieved party some sort of future discount or coupon. Not only will the gesture appease the customer, it also guarantees a future sale that will potentially be worth more than the discount.
- Not maintaining a customer database
Once customers leave your store, you need a way to remain in contact with them, otherwise you run the risk of losing their attention. According to Small Business Trends, implement a method for capturing customers’ email addresses, either at the point of purchase or with a post-purchase card they can fill out. If you are not actively collecting data on your customers and using that to remind them about your business or to inform them of an upcoming promotion, then you are losing out on a significant amount of future sales. With so many distractions, you need to reach out to your customers to keep your business at the forefront of their minds.
- Not improving your company’s SERP
If you own a shoe store, you want your company’s name to be as close to the top of the search engine results page as possible when potential customers look up local shoe stores. The best way to get a higher SERP ranking is to implement a search engine optimization strategy that includes constant content marketing with keywords, images and infographics. Successfully employing these tactics will boost your page’s ranking, thereby increasing your pool of potential customers and spreading greater brand awareness.