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Retail sales down: what you should do

Small businesses are already competing to get more customers, but what do you do when the market gets just a little bit smaller. What if the fish won’t bite?

Don’t use old fashioned marketing techniques. Try something new to get customers in your office. There aren’t as many people buying right now, which could be a serious problem. When fewer people are buying, there is an excess of services, and the competition can get fierce. It is basic economics. Find ways to stay on top and beat the rest.

Fewer people buying from retailers

According to Bloomberg, the 0.2 percent increase in retail sales is the smallest increase seen in over 4 months. A much higher increase in buying was expected. Many believe that the reason for slowing in spending is that people in America are starting to feel the belt tighten a bit. There are higher payroll taxes, fewer jobs, hardly any pay increases, and much more. All of this has made people feel like they can’t spend, which means you (the small business owner) will have to start fighting to keep your customers.

Keep loyal customers

You will need to find a way to keep the customers you already have. This may mean cutting down on prices are increasing customer service accessibility. Sometimes it just means you need to check in and make sure everything is going well. Customers like real people who they can complain to and get help from. If lowering your prices is not a possibility, you could even try working to make your website more easily accessible. In an increasingly technological world, having an easy-to-access and use website will help keep your customers coming back. Still, you will probably lose a few customers to the competition.

Get new customers

You are probably thinking this might be a good idea to steal customers from other businesses. One way to do that is to use the pay-per-call market. It eliminates all the work and incentivizes other people to refer customers to you. Just pay for every quality lead that you get, and you will end up with a lot more business. It is a great way to ensure you get real customers. At that point, all you have to do is offer a great product and service, and your customers will keep on coming back.

Source: Bloomberg

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