During the last years, small business owners have been resilient in the face of change, overcoming a number of obstacles in the business environment. Despite the challenges of today's economic landscape, the reason remains clear why small business owners continue to be confident in their income and business outlook.

Small businesses have the unique ability to create personalized experiences for their customers by getting creative with their customer contact and engagement techniques, setting them apart from larger retailers and competitors. Small business owners across the country are actively engaging with their customers to ensure they can meet them where they are, prioritizing their needs, creating new touch points and more regularly and building strong brand awareness in their communities.

Through this, we are seeing it putting customers first helps improve sales and increase profits, leading to more sustainable business growth in the long term and highlighting the role that connection plays in turning a one-time transaction into a meaningful relationship.

As you look to boost customer interaction in the second half of 2024, here are some ideas you might consider implementing to improve your customer experience.

Connected: 8 effective ways to connect with your customer

1. Personalize your customer experience

Personalization it's about understanding the individual needs of your customers. Anticipating them and understanding their preferences shows your customers that you are paying attention to them.

For businesses with a physical footprint, personalization goes beyond just remembering what they always buy. It includes tailoring your recommendations carefully based on what you already know about them and even creating loyalty programs that encourage them to come back and shop at the store. For example, if you own a coffee shop, you can offer a customer a homemade pastry that you know would pair very well with the coffee they always order.

If your business operates virtually, consider sending personalized thank you notes to repeat customers to learn more about them and what they like about your business. Also, consider sending them personalized recommendations based on their previous purchases to keep them informed and informed about your latest offers and announcements.

Regardless of your business model, refining and adjusting your engagement tactics to better suit and enhance your customers' experiences will help them feel more connected to you and your business – effectively building brand loyalty and increasing the value of your business to your customers.

2. Listen to your customers' feedback

Small business owners should strive to create an open dialogue with their customers. Two-way communication helps create a deeper level of trust and transparency, making customers feel seen, heard and valued.

For example, ours Bank of America Business Owner Report 2024 found that over the past year, 79% of small business owners said they proactively collected customer feedback. These business owners are using a variety of methods to help analyze their customers' sentiments, including monitoring online review platforms and sending out post-purchase customer service surveys.

Implementing a customer feedback loop also helps businesses assess if and when business owners should act on the feedback they've received. Consider creating a framework of questions to guide you. Questions may include:

• Is this a recurring complaint or suggestion?

• Could this hurt my sales in the long run?

• What are the pros and cons of implementing this response?

Being a business owner comes with some complexities that your customers may not understand, so it's important to be able to identify trends in their feedback and recognize which ones are worth acting on. When you act on customer feedback properly, it leads to improved products and services and, in turn, happier customers.

Connected: How to really listen and use customer feedback

3. Use social media for connections

Social media continues to be a powerful tool that allows small business owners to connect with, grow and retain their customer base. Our report of business owners also found that the majority of small business owners feel that branding is important to the success of their business. Nearly half of the owners we surveyed are actively working to create a sustainable external brand for their business. Greater reach through social media allows business owners to connect with new customers, promote their products and services, and outline their brand values, reinforcing their company's unique perspective and business advantage.

Social media has also brought new ways to connect with customers online – allowing business owners to keep an active pulse on how their customers are engaging with their brand, all while driving deeper customer relationships. Social media can also help you humanize your business. Consider posting about yourself and your employees or even hosting “About Me” or Q&A sessions where customers can get to know you on a deeper level.

Connected: How social media can build trust and engagement within your community

Throughout the ever-changing terrain of the business landscape, small business owners must continue to prioritize what matters most—their customers—by keeping them at the forefront of business plans and decisions. That's why small business owners aren't just salespeople; they are trusted advisors, friends and an active part of their communities. From harnessing the power of creating a personalized experience to using customer feedback and using social media to build communitysmall business owners will be better equipped for a fruitful end to the year.