With the development of new technologies, consumers are much smarter than they were before and it is time SMEs acknowledged this. Consumers are concerned about green trends, fair trade, collaborative consumption and business models of shared responsibilities. This in turn has created certain habits within consumers which SMEs need to be aware of. Let’s take a look at them.
They google everything
You may have heard that it is critical to have an online presence and this is true because consumers google everything before they make a purchase. They will search the internet to learn more about the product and what price they can expect to pay for it. If they choose a product and company, they may look at reviews and other information about your company to learn more about it. Because of this, it is critical that to the best of your knowledge you have replied courteously to bad reviews and you are honest about the way you do business. You should also ensure that you have a simple and accessible website for your potential customers to find. You should also create a Google My Business profile to help increase your visibility online and to improve your trustworthiness online.
They know their rights
Nowadays everyone is concerned about their rights and some people understand their consumer rights well. You should too. By reviewing the Consumer Protection Act, you will become aware that as a business owner there are items which you are responsible for and if you don’t take care of these items then your small business can land into a lot of hot water. The Consumer Protection Act has nine rights. They are:
- The Right to Equality in the Consumer Market and Protection against Discriminatory Marketing Practices
- The Right to Privacy
- The Right to Choose
- The Right to Disclosure of Information
- The Right to Fair and Responsible Marketing
- The Right to Fair and Honest Dealing
- The Right to Fair, Just and Reasonable Terms and Conditions
- The Right to Fair Value, Good Quality and Safety
- The Right to Accountability from Suppliers
You should measure your small business against these rights to ensure you are running a business which isn’t abusing the consumer’s rights. If you identify some areas where you are not aligned with the Consumer Protection Act then you may want to review it with a lawyer to see what steps you should take.
They are wary of advertising
With the constant barrage of information coming into a consumer’s life, they are very wary of what is being told to them. If your offer is too good to be true then there is a good chance that they may overlook it, especially if your brand is unknown to them. Consumers are also exposed to a lot of fake news. You must be authentic when you speak to your consumers and bring a bit of your personality into the advertising.
By being aware of these three consumer habits you will be able to create a business which is in touch with the consumer and they will, hopefully, reward you by sharing their precious resources with you.
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