TOP 5 SMALL BUSINESS TRENDS TO KEEP AND EYE ON IN 2020
Now that the first month of 2020 is almost over and we’ve had a chance to catch our breath from all the holiday festivities and new year excitement, it’s time to put our head down and get to work.
We want to ensure that this is your best business year yet, and nowadays, the only way to stay in the game, is to stay ahead of it. So, we thought we would do you a solid, and put together the Top 5 Small Business trends that you will see this year so that your business can reap the benefits tomorrow.
Let’s break them down, shall we?
The artificial-intelligence industry is continuing to grow and grow, and will continue to have a significant impact in the coming years. You don’t have to look very far to see how it’s already changing the digital landscape, however for small business like yours, you should zero-in on two key automation softwares:
Chat-Boxes: Not only do they utilize machine learning to help you get to customers right away, improving customer service time, but they can also give you the appearance of a much larger professional operation—without you having to lift a finger.
AI Virtual Assistants: An AI-based system can help with a multitude of tasks. From broad-reaching Siri, Alexa, Cortana and other virtual assistants, to systems like X.ai and Clara for calendaring, as well as in-meeting virtual assistants that aid in taking notes and organize follow-up meetings.
All these are tools are intended to decrease the time you have to spend on mundane tasks and/or day-to-day functions that take away from important strategic work. They're not meant to replace people.
When you think of mobile apps, you probably think of e-commerce sites like Amazon and other giant online retailers, however more and more small businesses are learning to profit from the e-commerce revolution, by selling directly to the consumer by putting themselves directly on the consumer’s smart phones. This can also be a great way to expand your business without the need for more physical space.
Socially Responsible Companies
More and more consumers are going green and adapting to a socially responsible lifestyle, therefore are looking to patronize businesses that follow sustainable, green and socially responsible practices.
For example: If you own a local restaurant, advertise your farm to table mentality. Advocating using local farms or patronizing green vendors and services, etc.
User Reviews Are Key
Online reviews are nothing new. They already play a significant part in influencing us to buy a product, however they are becoming increasingly crucial to your business. Customers trust reviews over ads or any other content you can create. In fact, 92% of people hesitate to make a purchase when there are no reviews. Which means for smaller businesses like yours, it becomes all the more important to focus on user reviews for your goods and services.
The Rise of Gen Z
For years, people have been talking about what makes millennials tick or how to market to them, but now it’s time to start marketing to the next generation: Generation Z. Defined as those who were born in the mid-to-late 1990s and later, they’re the first generation who’s had easy access to technology most of their lives. As such, marketing to them is different.
According to reports Generation Z will have $44 billion in buying power.
And no, that's not a typo. That's 44 billion dollars with a B.
That means, if you believe that your business will eventually cater to Generation Z, you'll want to start adjusting your business and marketing strategy as soon as possible.
All of these trends have one thing in common: They require businesses to pay close attention to the current needs and preferences of today's consumers, but luckily DS&P makes it easier for you to stay on trend.
If you’re ready to take your small business to the next level in 2020, reach out today and inquire about our custom website packages, branding solutions, social media marketing, mobile app development and more!