fbpx

Small Business Survival Guide 2021

Small Business Survival Guide 2021

2020 was definitely a transformative year. From changing consumer demands to ceasing business as usual… the pandemic forced the hands of many to digitalise. This, in turn, brought about a change in consumer behaviour and the way businesses operated. Moving forward, businesses have to keep nimble to adapt to the new normal where transactions will take place largely via cashless means. This holds true even for small business in the year to come and beyond 

To aid small enterprises this year, our team at CardsPal thought it might be helpful to share some of the tips and avenues that we use.  

1. Manage your Finances 

A good example will be to digitalise your finances using platforms like Aspire. Aspire helps modern business owners with a set of financial tools to manage their cashflow and working capital. They provide quick loans, low-cost international transactions and even provide cashbacks on marketing and SaaS spends. To simplify mundane financials, Aspire Business account has definitely been useful. Automating everyday business processes allows for entrepreneurs to allocate more time on their business which may result in bigger impact.  

2. Get your name out there 

To a business, exposure is everything. Getting in front of customers on multiple channels can pique interest in potential customers. It helps brands gain trust in this virtual world. Therefore, small enterprises should join the hustle and promote their business on every digital channel possible. For e-commerce entrepreneurs, this includes marketplaces and platforms like Lazada, Qoo10, ShopBack or Carousell. For F&B outlets, you can list your store on foodpanda, deliveroo or GrabFood for added exposure. Once your business has garnered a loyal following, one can think of alternative modes of delivery or tactics.  

Another channel would be CardsPal for Business. CardsPal is a deals discovery mobile app which helps consumers search for the best deals in town. Users can find deals via location or through categories like food, travel and lifestyle. By listing their deals on CardsPal, small businesses will be able to reach out to more customers who are searching for good deals. In addition, deals are a great way to encourage trial as it reduces the fear of buying an inferior product or from a new brand. Singaporeans are known to love a good deal. What’s more? To help small businesses gain greater outreach during this (Covid-19) period, CardsPal is currently offering complimentary* listing. Check out CardsPal for Business

*Listings are complimentary for a limited time only.

3. Collaborate

Nothing is more powerful than small business joining hands to help one another. Collaboration is key for survival for a new or small business in both good and bad times. Having your peers vouch for your craft is the ultimate validation. Some methods of collaboration include, leveraging on each other’s social media to cross-promote, co-creating a collection together or sharing resources in terms of logistics assets and physical space in order to maximise efficiency or capacity. Collaboration can come in many forms but it’s best when it is partnership that truly benefits each customer.  

4. Be obsessed with your customers

There’s no better time to get re-acquainted with your customers than down time. If this pandemic has taught us anything, it’s the importance of being customer obsessed. To truly be fool proof, one has to be constantly putting the customer’s needs first. Without understanding the pain points of a customer, it’ll be difficult to innovate and adapt to their changing behaviour. In a world of more is more, we need to evolve as quickly as our customer’s taste, wants and expectations. 

Some tools that can help with understanding your customers better includes, social listening tools like Google Alert, Hoot Suite and Buffer. Other platforms include rating and reviews on your business’ Facebook and Google page. We recommend speaking directly to your customer to truly grasp the essence of choosing you.  

Conclusion

At the core of it, the ability to survive usually translates to ones perceived value. Digitalisation helps amplify that. In the same vein, tough time don’t last, but tough (and evolving) businesses do.  

Wanna get the most cashback and rewards with your credit cards without research? Our Cashback Calculator recommends which card to use for your purchases. Check it out!

Get more customers with CardsPal for Business 👥

CardsPal for Business allows e-commerce, retailers, F&B owners and any other type of vendor to list their deals on CardsPal mobile app. By listing their deals, brands get to showcase their products and services to CardsPal’s ever-growing user base. Getting started is easy. Simply register your business and start adding deals.

Register at CardsPal for Business.

Leave a Reply

Articles & Smart Tips

Like us on Facebook and follow on Instagram (@cardspal) for the latest news, rewards, deals, offers and more!

Top Tags
$5 56th birthday About activities activity affordable american express annual fee annual leave App feature apply august NDPeep bank budget cafe caffeine card application CardsPal cashback cashback calculator celebration cheap Cheongsam child Chinese New Year CNY2021 coffee coffee delivery Coronavirus couples COVID-19 credit Credit Card credit card comparison Credit card deals credit card miles credit card rewards credit cards credit score date deals Deals SG debit card debit cards dessert Dining dining deal Dining Deals discount discovery driving easter exciting expenditure explore explore singapore Face Masks family finance finances Fitness food Food and Beverage Food Deals food delivery Foodie foodpanda food promo friends fun Funding furniture game games Government Support Graduates Grants happy hawker heritage trails holiday home improvement HSBC Revolution insurance leisure loan local attractions main course meetings mental health mental wellness miles money goals money management money saving tips museum national day NDP occasion Online Shopping outdoor promos promotion Qipao recharge relaxation renovation restaurant restaurant discount restaurant discounts Retail Rewards romantic save money savings school holidays sg budget sg deal sgdeals sg deals sglobang SG Lobang sglobangs shopback singapore singapore landmarks Singapore meseums Small businesses SMEs spending standard chartered bank stay at home staycation stayhome takeaway things to do tips tourist Training tribe by income UOB PRIV AMEX vacation valentine's day wedding wellness wine wine deals work workshop zoom meetings
%d bloggers like this: