So you’re running you own vape shop? Fantastic. There’s nothing more satisfying than being your own boss, and being successful at it. But what if you could improve? What if there were some oversights, or small blind spots? What do you do about them?
They may seem like small things, but the 1 or 2 degree shift we often hear about in business is just that: small tweaks to optimize your already well performing vape business. Here are 4 quick business tips for vape shop owners in 2019:
1. Review Your Monthly Stats
The fancy bar graph report you receive at the end of the month should not be ignored. Are there shifts in your customers demographics? Has there been an increase in engagement with your online marketing material? Has a policy change affected sales? These are small questions that can have big implications, and determining these answers may give you the ability to spot trends in the market. This data is valuable, and for a competitive market like vaping and ejuice – you need as much of an advantage as possible. Pay attention to your numbers, and see what you can extrapolate from them.
2. Use The Technology Your Customers Use
Have you been asked about Google Pay, Apple Wallet, or other payment methods you’re not too familiar with? There are a lot of different options (some definitely better than others), but looking into them can go a long way when it comes to customer service. No, this doesn’t mean you need to accept every payment method under the sun, but it does mean you can reach certain niche customers you otherwise might have not been able to. Not everyone is going to opt to pay with Bitcoin (for example), but customers do like options. If it’s feasible and not a giant pain, see if you can facilitate new methods of accepting customer payments in-person or online.
3. Be An Expert In Your Field
Customers come back for 4 main reasons: customer service and knowledge, low prices, convenience, or exclusivity. You may want to take a multi-pronged approach, but customer service and knowledge are certainly ones you will want to strongly consider. Your customers aren’t completely clueless – and even if they are, your store’s reputation is always on the line every time you or your staff are giving out information on products. Make sure everyone is on the same page, and kept up to date with the features of new products when they arrive.
4. Find and Promote New Products
It’s part of our job at Gold Line Distribution to keep our clients up to date with the newest products, but going out of your way to find new and trending items is a small advantage you can have over your competitors. Most will wait for the ‘new product emails’ to arrive, whereas you can always contact your distributor and find out what new products they have in stock (or have on the way in). It’s easy to see how this can benefit your business, but it can also benefit the relationship your shop has with your customers if you’re keeping them in the loop as well. Your customers will feel a sense of exclusivity when they’re notified about this as it happens (using tools like email lists, or SMS blasts).
People are happy when they are doing well, but there are some who are always striving to improve. That mindset is important, and along with small tweaks and changes, will grow your business for years to come.
Want to set up your own ejuice wholesale account for your Canadian vape shop or online store? Contact us here to get started for free!