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Do you keep a diary? If not, your business could use one. This week, we look at why small business in particular could benefit from keeping a daily journal of what challenges they faced, how they dealt with them and what they cost. We also examine the shift in what triggers a purchase and the difference between a customer finding you in a search bar versus a social media scroll.
But before we get into it, watch how this small business makes 300,000 cannolis a year–by hand.
[ FIRST GLANCE ]
[ THE TOP LINE ]
Search vs. social: new purchase triggers and what to know
Your customers are shopping in two ways: traditional search and social discovery. The top purchase trigger is seeing something visually appealing, while the others are social: a friend’s rec, coming across an interesting item unexpectedly, seeing someone use it in a video or seeing a creator or influencer talking about it. The thing to remember is that search captures demand that already exists, and social discovery creates demand. Your best bet is short-form video that puts your items in context and includes conversational–and searchable–captions.
Why this matters: Small businesses can’t afford to be everywhere, but they can afford to show up on social consistently. If you answer “How does this work?” or “What’s the difference between X and Y” in your posts or videos, you’re creating the desire that leads customers to search for your product. (SBE Council)
Record-keeping is the asset that could serve SMBs best
Wars, recession and tariffs are very real macro events for any industry. But for small retailers, dealing with unexpected events is not exceptional or macro; it’s part of operating each week. On any given day, an employee calls out, the landlord raises the rent or a piece of equipment breaks. Regularly assess and keep track of how your business is doing. Writing a few lines each day: what happened, what worried you, what you tried, and what you would do differently, creates a lasting record that many small businesses lack entirely.
Why this matters: Most small operators don't retain data about their own history. Even informal tracking of how you responded to past disruptions, what worked, and what it cost you creates a resource no external consultant can provide. (Forbes)
[ THE LOWDOWN ]
[ THE THINK TANK ]
Real-time inventory visibility is your best defense against uncertainty
Veteran connected commerce CEO Jon Bahl reasons that geopolitical instability and its effect on product manufacturing lead times and availability are all but inevitable in today’s climate, but stockouts on in-demand items or missed seasonal shipments could tank a small business in no time. Treating inventory visibility as a core capability instead of a back-office function allows you to react faster when something goes wrong. Using inventory management software that updates in real-time is the one operational upgrade you should make now.
“ The current tensions affecting global trade routes underscore an important reality for retailers operating internationally: uncertainty is the baseline, not the exception." - Jon Bahl
Why this matters: Your best safeguard against inevitable supply chain disruptions is knowing where your inventory is at any given moment. That includes goods en route to you, in your warehouse or on your shelves. A miscount or missed deadline during peak demand isn't an inconvenience—it's lost revenue you don't get back. (Global Trade Mag)
[ POLL ]
Do you keep a daily record or diary of your business?
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The SKUpe is curated and written by Marcy Medina and edited by Bianca Prieto.
