Small Aspects of Your Business That Could Pay Off Massively | National Crowdfunding & Fintech Association of Canada

June 29, 2023

Sometimes, it is the smaller details of your business that really make a difference. Sure, aspects like the unit space and the pricing of your products are going to have a major impact. Although, it is sometimes the smaller aspects that can help you get the edge over your competitors or get consumers coming back. This is why attention to detail is so important in the world of business. If you want to know what small aspects you should be taking into consideration, then keep in mind the following.

Having Gift Cards

As a business, you should definitely be selling gift cards. You might even be surprised by the number of other companies that are not involving themselves with this. They are a really effective way to make a profit for very little cost. When it comes to buying gifts, there are a lot of people who will always opt for investing in a gift card. After all, it is a great idea. You get the feeling that the person was thinking about you when they bought it, so it has a personal aspect. Although, you also get the freedom to choose what you want, making it great. So having gift cards in your business is definitely something you should consider. Check out the Blackhawk Network comparison to see different gift card options.

Having Loyalty Schemes

One of the key things you are trying to do in your business is to get people to come back. When you have consumers that are coming back on a consistent and frequent basis, this sets up a great base for profit. So how do you ensure they keep coming back? An impactful option is to have loyalty schemes. Reward your consumers for coming back. When you do this, they are not only going to feel appreciated, but they are also going to be more motivated to come back. This can include a loyalty card where you build up points for discounts. Or, you could have loyalty schemes where you get a free item after a certain number of purchases.

Changing Rooms/Testers

People don’t want to be hesitant when they are buying an item. This is why it is always a good idea to allow the consumer to know exactly what they are getting when they make the purchase. When a customer is 50/50 on whether to buy something or not, chances are they are going to end up leaving it. However, if they are able to get an experience with it, they might change their mind. In a clothing store, the best way to do this is to have changing rooms.

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This way, the consumer can see exactly how the clothes are going to look on them and see if it fits. If you are in an electrical store or have a business that sells products of use, give them a chance to test them out. Being more familiar with an item will make them much more likely to invest.

The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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