May 9, 2021

Soknacki2014

The Number One Source For Business

It’s Time To Save Yourselves

3 min read

This goes out to small business owners who have been pushing to keep doors open and people employed. While it has not been easy, if you’’ve made it this far, take it as a sign to keep fighting. Many are facing the same issues you are and they are finding ways to pivot and adjust. Here are some lessons learned along the way by merchants who use CASHDROP.

Rally your community

Lean into the relationships you have built. Whether it’s loyal customers or vendors, there’s always the opportunity to engage your community on a deeper level. Social media can be incredibly helpful in strengthening your community and growing your revenue. Don’t be afraid to show your face, tell your story, and show how hard you work to provide a great customer experience. 

Remember, social media is only one part of your community-building efforts, from your customer service to how you reach out to customers to share important updates.

For those with disposable income, gift cards continue to be a great way for them to support you now. Promote your gift cards and offer small items in exchange for larger purchases. Remember, it’s about so much more than giving away free stuff—it’s an opportunity to build trust with your customers who will continue to patronize your business.  

Re-think your brick and mortar location

The overhead of paying for a physical location can be weighing you down, but you have space many others wished they did. Here’s some ways you can re-think your space and create more opportunities for your business. 

Run a restaurant? 

  • Turn it into a ghost kitchen and test different food concepts. 
  • Effectively run a drive-thru with contactless and curbside pickup options. 
  • Open up your ghost kitchen to other entrepreneurs looking for a commercial space. You could even negotiate revenue share from their sales.

Own a boutique, thrift store, or plant shop?

  • Stage your space for lease to creators from photography or design space; you’d be surprised how many people would be willing to work from your space safely. 
  • Host a pop-up; vendors just getting started can benefit from selling onsite at your location. You then can both cross-promote each other’s business and tap into their audience; if you sell similar things, chances are your customers are the same. Everyone loves a good collaboration; this is the time to build relationships with other vendors. 

Break up with tech fees

Having an online presence for your business is paramount, but it can be expensive when tech companies charge high fees. These tools should not come at the expense of your profits. Don’t lock yourself into contracts in exchange for hardware; you’re better off buying used items than having to use the same tool for two years. Always look at the small print, and understand costs and fees associated with using any digital tool.

With CASHDROP, you can now run an online shop without having to lose over 30% of your profits to tech fees— there are no fees or commissions to sell on the app.

CASHDROP makes it as easy as possible for customers to buy from you, going from viewing your shop to checking out in seconds. Growing your business online can feel daunting, but join the others who have gone digital and increased their sales despite facing obstacles as a small business. 

 Learn more here

This is a content marketing post from CashDrop, a Forbes EQ participant. Forbes brand contributors’ opinions are their own.