Small business owners are always looking for ways to keep their customers happy. When prices go up and delivery times get longer, some customers may choose to cancel their orders. This can be a major problem for small businesses, as it can lead to lost revenue and decreased customer loyalty. In this article, we will discuss some solutions that small business owners can use when customers cancel orders over rising prices and long delivery times. Biggest Small Business Advantages One of the first things you can do is to gain some reasonable perspective. Put another way, think about the innate benefits small businesses have compared to large, corporate chains. You’re able to make independent decisions. Plus, having a small organization means being more nimble. What’s more, you can not only have but use personal relationships with your customers to your advantage. No one wants to lose customers. You work so hard to acquire each and every one. After they sign up for your product or service, you pour your energy into meeting and exceeding their expectations. So when you get that call or email, it can be devastating — both financially and emotionally. A recent study by the Harvard Business Review states that a five percent reduction in customer defection has the potential to double profits. How could such a small decrease in cancellations result in a doubling of profits? Those customers that stay with you make more purchases, take less of your time, and refer other new customers. —Invoiced.com The very fact that you have one-on-one relationships is a huge deal. This, not to mention the fact that you’re part of a shared community. So, you also share many of the same experiences. Basically, your small business might not have the monetary resources big companies do, but still have other means that can help you get through such challenging times. In other words, you do have some advantages and it’s very helpful to stay in a positive mindset. Steps Small Businesses can Take to Deal with Customer Order Cancellations When customers cancel orders due to rising prices and/or over long wait times, it can be frustrating (and of course, bad for the bottom line). Fortunately, there are steps you can take to either minimize or regain customers for your small business: Offer discounts. One solution that small business owners can use is offering discounts. This can help to offset the increased prices and make it more affordable for customers to continue doing business with your company. Offer VIP upgrades. Another solution is upgrading customers to VIP status. This can give them access to exclusive deals and discounts that they would not otherwise be able to get. They can pay a small fee for priority treatment, such as being the first when deliveries ship. Offer referral rewards. Finally, small businesses can offer referral customer rewards bonuses. This can encourage customers to refer their friends and family to your business, which can help to increase your customer base. Implementing one or more of these solutions can help small businesses keep their customers happy, even when prices are rising and delivery times are getting longer. By taking steps to address these concerns, small businesses can stay afloat during tough economic times. While no one solution is perfect for every small business, each of these solutions can help to address the issue of customers canceling orders due to rising prices and long delivery times. By taking action and implementing some of these strategies, small businesses can keep their customers happy and loyal, even during tough economic times. Do you have any other tips for small business owners who are facing increased prices and longer delivery times leading to customer cancellations? Let us know by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

What do you do with a client who keeps breaking their promises? It’s certainly not an easy problem to solve. And, even more difficult when you come to the realization you’re a bigger part of the issue than you originally thought. As is the case with so many complicated circumstances, you probably share a good amount of fault. That isn’t to excuse the promise-breaker. But, it does serve as a reminder that it takes two people to take responsibility. About Promise-Breaking Clients It’s a more common phenomenon that you might believe. Not that it’s justified or even reasonably expected. However, clients have many reasons why — yes, some are excuses — for not following through with their word. It could be something beyond their control. Or, just a change of heart (and perhaps, circumstances). It’s an old rule of life that we teach people how to treat us. Yet often we can struggle when it comes to managing accountability and calling people on broken promises. It just feels like less stress to say nothing; even to just do it ourselves. But here’s the deal: when you decide not to call someone on their broken promise and ill-managed commitment, you’re, albeit inadvertently, being part of the problem. —Forbes.com Regardless of how often it happens, it does happen. So, that’s something you should be prepared for, because eventually, you’ll run into it. Usually, it’s not out of malice or selfishness, but rather, unrealistic expectations. When it does happen, you should know how to respond. How to Deal with a Client Who Keeps Breaking their Promises There’s an old saying in the real estate sales industry, “Buyers are liars.” It comes from a modicum of truth, but is obviously more of an exaggeration. Although, it does point out how people tend to embellish or overstate their resources and intentions. If you have a client who doesn’t always follow through on his or her promises, try these suggestions: Remind them. The first time won’t be the last. So, let him or her know what you expected and that you’ll expect them to deliver in the future. You don’t have to be rude, just stern but kind. If you show you’re willing to call them out, he or she will be less likely to do the same again. Don’t make up for them. It’s tempting to pick up the slack yourself but that rewards their behavior by avoiding consequences. After all, you value your reputation and take pride in your work. So, you make up for the short fall. But, this will only backfire. You’re only teaching him or her you’re always there to make things right. So, they don’t have to worry about it. That will only lead to more trouble. Don’t stay vulnerable. This is the most difficult, though it’s sometimes unavoidable. If it happens more than once and you don’t say anything, expect it to keep happening. Conversely, if you let them know you’re not going to tolerate his or her behavior, you can help break the cycle. What other suggestions do you have for dealing with a client who breaks their promises? Please share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.