The holiday shopping season is upon us and during this time of year, it can be easy for small business owners to grow at least a little resentful of name-brand retailers in their fields. Those are the companies that do all the advertising, and promote their big discounts, but it often turns out that consumers still prefer to shop small much of the time, and are often willing to pay a premium to do it.
Every year, surveys show that consumers are more than happy to pay more for purchases at small businesses than they are for big-box retailers because it gives them a feeling that they’re supporting something in their local community and building a strong rapport with the owner or staff there, according to a report from Business News Daily. They may also feel that the better one-on-one customer service they receive from such companies makes the higher price worth it, in and of itself.
“The reason consumers like dealing with small businesses is because there’s a relationship that can be developed,” David Brown, chairman, CEO, and president of Web.com, told the site, citing trends from previous Web.com surveys. “There’s a human connection [that happens] when you do business with someone you can see. Consumers still value that … face-to-face personal contact, as opposed to big businesses online that you never speak to or meet.”
What can small companies do?
These days, it’s important to note that small businesses are largely focused on the holiday shopping season, and rightly so, but there’s more to be done throughout the year, the report said. That should include building a significant presence online, both through a stylish and regularly updated website, and a strong social media plan that will allow consumers to find and connect with them on some of the web’s most popular sites. Beyond that, it’s important for owners to understand that they should also try to keep new customers coming through the doors with regularity, and throughout the year. That kind of promotional work is best done regularly.
Owners who want to put aside some extra money to aid in those efforts might want to consider the ways in which they can cut some of their costs for small business insurance. For instance, finding more affordable commercial insurance coverage will typically end up saving a company thousands of dollars per year.