Every neighborhood has that one establishment—a bakery, a bookstore, a family-run diner—that’s stood the test of time. These legacy small businesses are more than just brick and mortar establishments; oftentimes, they’re landmarks of tradition, preserving memories of generations past.
Visiting a legacy store may evoke a sense of nostalgia in a longtime customer and remind them of simpler times, when the pace of life was slower and when every purchase came with a story.
But in an age characterized by digital experiences and fast consumption, things like technology and new-age consumer behaviors present formidable challenges to these smaller enterprises. Bustling shopping districts and city streets now have virtual counterparts where transactions are swift, reviews are instant, and competition is just a click away.
Amidst this transformation, many might wonder: can legacy businesses retain their charm while embracing the new? Can tradition and technology coexist harmoniously? Surprising though it might be to some, the answer is a resounding yes. If you run a legacy business of your own, the following strategies will help you bridge the old with the new and strengthen your reach and relevance among younger and more contemporary markets:
1. Offer Modern Payment Solutions
The digital age has redefined convenience, and gone are the days when cash was the only king. Today’s consumers, armed with smartphones and wearable communication devices, demand a plethora of payment options from almost any business they transact with.
Legacy businesses must recognize and adapt to this shift. After all, a seamless transaction can be the difference between a one-time customer and a loyal patron—and this rings true for both your older customers and those that come from a younger demographic.
Traditional businesses seeking contemporary solutions would do well to invest in a Maya Business terminal, for example. This cutting-edge point-of-sale (POS) terminal ensures that every customer transaction goes smoothly and securely, without the hassle or added risks that come with cash payments.
Beyond just card payments, the Maya Terminal can also accept a wide range of digital payments, like those made via digital wallet or QR code. This ensures that customers of all ages and demographics can transact using the method they most prefer.
But what if your legacy business isn’t confined to a physical space? Perhaps you run a boutique store that sets up at different events, or maybe you offer on-the-go services. Here’s where the Maya Terminal Lite shines. This more lightweight Maya POS terminal remains almost as powerful and feature-rich as its original counterpart, and you’ll barely feel the difference when you’re using the portable device.
Whether it’s QR code payments at a pop-up stall or near-field communication (NFC) contactless payments at a client’s location, the Maya Terminal Lite will allow your business to process all transactions efficiently, no strings (or wires) attached.
2. Build Up Your Digital Presence
While your business may have a rich history that spans a time before the internet, you’ll want to use the latter to share your ongoing story and let it unfold online to a newer audience.
The digital realm is an expansive new marketplace where your customers can have conversations about their experiences with your business, as well as share their feedback on your products and services. In addition, a well-curated online presence can light the way for potential new customers who have yet to discover what you offered to the generations before them.
Begin with a user-friendly website, which will serve as your digital storefront and give visitors a glimpse of what awaits them. Make sure it’s regularly updated to showcase new offerings, promotions, and even appealing stories from yesteryear. From there, you should then venture into the world of social media.
Platforms like Instagram and Facebook aren’t just for the tech-savvy, and they’re also not exclusively the realm of newer businesses; they’re digital communities where entrepreneurs of all stripes can foster connections.
Take advantage of your reach on social media to share behind-the-scenes glimpses of your business, engage with users through comments, and run online contests. If you can let the virtual world see the heart and soul of your legacy business much like your legacy customers did, you’ll have a better chance of remaining relevant across generations.
3. Revitalize Your Physical Spaces
For many customers, visiting a legacy business is a journey through time. The ambience, architecture, and décor on the walls can whisper happy tales of the past. But you’ll also want to strike a balance between retaining that old-world charm and ensuring that these spaces are also clean, efficient, and inviting environments for modern customers.
If you run a physical store, consider refurbishing or renovating it from time to time. Even small changes, like modern lighting fixtures or updated seating, can breathe new life into the space. The key is to enhance your customers’ experience with contemporary comforts, all without eroding the very essence of your business.
Do you run a century-old bookstore? If so, you might want to introduce cozy reading nooks with charging stations. Or, if you’ve inherited an historic café from your family, try revamping the patio to make it an all-season haven.
Optimizing your business for accessibility is another surefire way to find favor with the contemporary customer. Ensure that everyone, regardless of their physical ability, can comfortably access and navigate your business premises. This ensures that your business not only abides by regulations set by your local government, and it also sends a strong message that you take inclusivity and customer care seriously.
4. Engage in Sustainable Business Practices
Sustainability is no longer just a buzzword for businesses. It’s a clarion call echoing across industries all over the world. Modern consumers are increasingly conscious of their ecological footprint, and thus they’re no longer satisfied with just quality products and services.
They seek businesses that mirror their commitment to environmental responsibility, and thus now factor in a business’s values and ecological impact when weighing up their purchasing decisions.
To level-up your legacy business’s sustainability efforts, begin by assessing your current operations. Identify areas where you might reduce waste or energy usage. Maybe it’s time to phase out single-use plastics or introduce biodegradable packaging. You may also have options to source locally, therefore reducing transportation emissions and supporting community businesses.
You’ll also want to share your sustainability journey with your customers. Whether it’s through in-store signage, pamphlets, or online posts, let them know about the strides you’re making to become more environmentally friendly.
The benefits of prioritizing sustainability are twofold. For one, it’s a tried-and-tested fact that demonstrable sustainability commitments enhance a brand’s reputation with its customers and often also attract new clientele.
Besides this benefit, however, sustainable practices also often lead to long-term savings, making them a win for both the planet and your pocket. Suffice to say, your efforts to be more sustainable will help you achieve a more favorable legacy for your business in both the near and far future.
5. Work to Provide Personalized Customer Service
In today’s competitive market, good customer service is often the differentiating factor for competing businesses offering similar products and services. Legacy businesses have an inherent advantage in this area: years or even decades of cultivated relationships.
These establishments have a history of recognizing their regulars, recalling specific preferences, and understanding the unique needs of their community. This accumulated knowledge—combined with a genuine approach to service—creates a lasting bond that newer businesses might struggle to establish quickly.
Be sure to leverage this strength in your present and future operations. Train your staff to not just serve, but connect with every client. They can greet a regular by name or recall a previous purchase to make a recommendation; regardless, these gestures are gold.
You should also introduce a feedback system that incentivizes customers to share their experiences and suggestions. This way, your business will get invaluable insights about individual customer preferences and habits, and your customers will each feel valued and heard.
Even in a world characterized by relentlessly advancing technology, legacy businesses need not become simple relics of the past. Intertwine the wisdom of tradition with modern strategies, and your legacy business can continue to flourish—offering customers a unique experience where both history and innovation can coalesce.
