30% of the Shops Have Shut

emptymalls_22_fareastplaza

Since Singapore lifted its lockdown to the less restrictive Phase2 a few months ago, I have not been out the house much. I have been making most of my purchases online – everything from food to clothes, books to gadgets. Over the weekend, I decided to head to the city to shop for some new clothes and was deeply shocked to find at least 30% of the stores in a mall tenanted by micro businesses had shut down. When I noticed which shops remained open, it was clear that they were the ones that,

a) did not depend on tourist traffic
b) offered a unique or differentiated product that catered to a specific niche.

What it did reinforce is just how important it is to:

  • Have a unique offering
  • Understand exactly the type of customer that needs your product/service
  • Communicate your unique offering to this customer base in language that resonates for them
  • Grow an engaged and loyal community/customer base 
  • Nurture your customer base so they keep coming back to buy more from you.

Understanding how to market your products and services effectively to increase sales for your business is critical for your business, especially now. This is easier said than done as it requires time, skills and knowledge that you may not currently feel your business has.

ASKING FOR HELP MAKES YOU A STRONGER AND MORE SUCCESSFUL BUSINESS OWNER
This is a time for coming together to support each other. There will be very few solopreneurs and micro/small business owners globally who are not feeling anxious about their business’s survival over the coming 6-12 months.

Next week, we are hosting a free webinar LET’S TALK MARKETING featuring a panel of expert bizzi MicroConsultants that will answer your marketing questions. You will have an opportunity to submit your question prior to the call. Click image to book your free spot. 

For personalised in-depth support for your business, a 1 hour session with a bizzi MicroConsultant can clarify your business challenges and help you make the best decision for your business  https://www.bizzi.co/microconsulting/ 

Use coupon code 10OFFBIZZI at checkout to get 10% off your first MicroConsulting session with your chosen MicroConsultant.

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