4 Tips for Small Business Success With Waterfall Consumer Financing
You’ve got incredible products, have built a website, and are growing a consumer base with each passing day. But, how do you take your small business to the next level? How do you rapidly grow to compete with some of the biggest and best online retailers in your industry? We have crafted this article to share 4 tips for small business success, including waterfall consumer financing and more.
1. Support Shoppers With Waterfall Consumer Financing
To achieve efficient eCommerce growth, you need to go over and above the standard online retail practices and integrate novel solutions that provide added value for your customers. One such strategy is to provide waterfall consumer financing to support your shoppers’ purchases. Waterfall consumer financing from ChargeAfter is a financing solution that can be integrated with your website’s checkout page. The affordable feature installs as a button on your checkout page which your customers can tap to access the incredible benefits of consumer financing. Waterfall consumer financing differs from traditional financing plans as it lets customers receive loans without credit checks and at zero interest rates. These are two of the many benefits your customers can receive from utilising waterfall consumer financing. The addition of this feature, through partnering with ChargeAfter, can significantly improve your monthly sales values and volumes.
2. Encourage Customer Feedback and Strengthen Support
The best eCommerce brands are built on satisfied customers, so it is critical that small businesses also adopt a consumer-first approach to operations. Strategies to showcase your consumer-centric values include encouraging customer feedback regularly. From unboxing videos to reviews, and so much more, customers incorporate brands into their daily lives and they have strong opinions about the companies that they find online. By encouraging feedback, you showcase an active desire to respect their concerns. Then, you should take corrective actions to ensure that you resolve any customer issues or reasonable requests. This process will strengthen your customer support strategy, ensuring that your small business grows quicker than ever.
3. Don’t Broaden Your Offering Too Much
Online retail is incredibly competitive, and the best way to avoid competition is to specialise within an untapped niche. Whether you are selling luxury wines or sports clothes, stick to your specialization and avoid branching off into other industry areas too quickly. Sure, when your small business has grown substantially you can activate new concepts to tap into new consumer segments. But, to grow your small business to this level you should completely satisfy customers within your niche. For now, you can broaden your consumer base without having to diversify your offering by introducing waterfall consumer financing. It gives more consumers within your niche access to loans that can help them make a purchase.
4. Save Time Where Possible
For small businesses, time is one of an owners most valuable assets. As teams are not as large and diverse as big businesses, saving time is critical to ensuring all tasks are efficiently met to achieve success. From chatbot automation on your social media pages and websites to email automation for retargeting campaigns, you can walk with a small marketing team to automate as much of your communicatons as possible. This will free up time for you to focus on other areas of the business for sustainable growth.
From supporting your shoppers with waterfall consumer financing to developing a consumer-centric strategy, specializing within your niche, and saving time where and whenever possible, you can quickly grow your small eCommerce business into a powerhouse within your specific online retail industry. All the best for your growing success!