5 Trends Small Businesses Should Leverage in 2020
Small businesses need to be on par with the latest technology to stay on the competitive edge these days. Although the influence of technology on various companies differs, customer expectations are often influenced by the prevailing trends in technology. That is why you should be up-to-date with the latest trends to avoid losing your customers.
Let’s take a look at some trends that will affect small businesses in 2020.
- Customers want to patronize socially responsible businesses.
Do you know that your customers prefer to patronize businesses that are socially responsible and cares for the environment? According to a recent report, millennials and Gen-Z are passionate about these values. Here are ways your business can show commitment to these tenets.
- Make sure you patronize local products. Your business should source for products and services locally when homegrown options are available.
- Minimize waste by avoiding synthetic packages. Encourage the customer to use their own bag or use recyclable packaging.
- Use products and services that promote environmental sustainability.
- Post these values for customers to see.
- Customer Reviews will affect your business more than before.
Although online reviews are not new altogether, the influence of customer opinion on your business will become more critical than ever. Customer-generated content will become weightier than advert and other material that companies publish by themselves. That is why your business should have a presence in Trust Pilot, Yelp, Google My Business, and other online review sites.
The best approach to accumulating positive reviews is to provide excellent service for your customers. Don’t forget to remind or encourage your customers to leave reviews online.
- More traditional businesses are embracing e-commerce channels.
Ecommerce is no longer restricted to giant tech companies such as Amazon. Many traditional businesses are now leveraging e-commerce channels to their advantage. Ecommerce provides a cost-efficient means of scaling a business. Here are some of the e-commerce channels traditional enterprises are leveraging these days.
More businesses are working with delivery service app providers to make their products and services available online. For instance, meal delivery apps work with various offline restaurants to initiate orders online and deliver to homes and offices.
It is now common for restaurants to publish recipes in the form of electronic books and sell them through online channels. Many fitness clubs sell nutritional supplements and workout gears through online platforms.
These businesses do not need to create their own products. They will simply leverage their niche audience and offers them the products they need from affiliate networks such as Amazon.
- More businesses will leverage mobile technology in their markets.
The increased popularity of mobile technology is not slowing down any time soon. In fact, 2020 will see many businesses taking advantage of mobile technology to profit and add value to their customers. Here are some avenues:
- Businesses will embrace cashless and card-less banking as they adopt mobile payments such as Google Wallet, Alipay, Apple Pay, and many more.
- Geotargeting will be used to deliver ads to people who live/work around a business premise.
- More businesses will use mobile apps to stay in touch and add value to their customers.
- SMS, WhatsApp, and other instant messaging platforms will be used for marketing, customer interaction, and customer support.
- Expect more Stories and Livestream from businesses.
Have you noticed that Livestream and stories have become the dominant trend in social media? Even platforms such as WhatsApp now use story-like posts, which are called “Status.”
People have discovered that “stories” and live stream gives more exposure than only posting updates. That is why users of platforms such as Facebook Instagram and YouTube are leveraging these features to increase the visibility of their content. Stories and Livestream are excellent avenues to connect with an audience instantaneously and start engagements.
The advantages are many. There is no need to create an extensive presentation. All that is required is to generate posts frequently and consistently to keep your audience engaged.
Use these trends in your business.
The baseline is that businesses should be on par with the needs and inclinations of their customers. For instance, most of your customers in 2020 will be using a mobile device, use social media frequently, and read online reviews before making a buying decision. Understanding the mindset of your customers will help you cater to their needs and gain their loyalty.
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