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Small Business- The Value of Putting Customers First

If you own a small business, you know how hard it can be to keep customers, clients, or patients satisfied enough to return for more. This can be all the more stressful if your business is struggling to make ends meet financially. While this may be difficult, you should prioritize the needs of your customers and their desire for quality service instead of focusing on increasing your cash flow. Take on the outlook of credit unions and follow these steps to help your small business thrive: 


Provide A Better Customer Experience

When people go shopping, they aren’t looking for a specific product or service. They’re looking for a way to improve their lives – a solution to some problem. By choosing to provide the best service possible, you are prioritizing the “customer experience” rather than just making another sale. For small businesses especially, this means knowing the needs of the market and understanding the best way to address common pain points. For consumers, this means having the right to expect a little more from where they do business.

Take a look at how your credit union does business. Are they helpful when signing up for services, such as online banking or getting a credit card? Do they try to accommodate you when your needs fall outside its established service regulations? Do they work with you to troubleshoot problems and find creative solutions? All of these demonstrate ways that the credit union philosophy of “people helping people” can translate into the way you do business with your own customers and make your life a little easier. A business shouldn’t be trying to simply sell you another product or service; instead it should actively address the needs of each consumer.

 Palafox Market. This market displays local small businesses every Saturday in Downtown Pensacola.

The Trickle-Down Effect

The benefits of putting your customer first aren’t limited to problem solving—small businesses that are willing to go the extra mile in their customer service will likely reap the benefits of word-of-mouth advertising, which is shown to be much more persuasive than traditional advertising because of the value we place on personal recommendations from those we know and love.

Many organizations focus more on their cash flow than how their customers feel, leading to business relationships where the bottom line is all that matters. This is something you want to avoid. When it comes to your money and financial security, building a good relationship with your customers can make all the difference in the world.

Learn more about small businesses at our Financial Learning Center. Click here. 

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