Small Business Trends to Keep an Eye On

Despite great obstacles, the past year has reawakened many people's business drives. Many are also learning how to re-engage with clients and adapt to changing market demands.

As a result, small business owners are starting to look into their industry's trends in order to help them prepare for the future and generate new chances, such as establishing a website that better matches the demands of customers or taking on environmental and societal duties.

With this in mind, we've put together a list of upcoming small business trends to keep an eye on so you can better understand your client’s needs and stay ahead of the curve.

Ecommerce is becoming more popular

In recent years, brick-and-mortar stores have been steadily moving their companies and services online, building successful eCommerce websites. Most small businesses are looking to eCommerce to create new chances by selling their products online, either as their primary source of revenue or in conjunction with other methods, in the current climate.

If you're a small business owner looking to take your traditional line of work online, you might be surprised to learn that starting an eCommerce store can really improve your operations in ways you never imagined.

Let's say you own a physical store and want to develop your brand beyond what you make yourself. You can do so by incorporating dropshipping into your online store, which allows you to sell products without having to keep inventory on hand. Items will be created on the spot using print-on-demand only once they have been ordered.

Make use of mobile marketing

Mobile marketing is one of the most important small company trends to hit the world stage, and it shows no signs of slowing down. It entails reaching out to your mobile user population using their smartphones or tablets to market your small business. After all, with an estimated five billion people carrying mobile devices around the world, the most direct conduit to your audience is very likely through their phone.

You may use a small business app to communicate with consumers and cater to users on the go, in addition to using it to manage your firm. For example, you can keep your consumers informed by sending consented text messages about your latest promotion.

You can also use Google advertisements to reach out to local potential clients via geo-targeting, which allows advertisers to target mobile users in specific geographic places.

Providing personalised customer service

You'll be better able to sell your small business or brand directly to your clients if you understand their behaviour. Adapting services to the individual needs and desires of each of your customers is what personalised customer service is all about.

Your company can provide individualised service and hence enhance client engagement by adopting a few simple measures.

We know that completely engaged customers are 23% more likely to spend with your company than ordinary customers, which could help you enhance your long-term profit.

Creating a buyer persona is one approach to learning more about your consumers and gaining useful information about who they are. Use web analytics tools like Google Analytics to learn more about your visitors, such as the number of people who visit your site, how they got there (e.g., search engine, social media, or other), which products are best sellers, and what motivates them to buy.

Track strategic points as your customer navigate your site and adapt their customised experience by automating marketing duties and better customising them for your clients using the information you've acquired.

Don’t forget to set up automatic email marketing campaigns with a welcome email for each new subscriber, or a custom coupon based on their purchasing history or interests, for example.

Remote employment is becoming more popular

While these offer distinct advantages such as flexible scheduling and the elimination of a long commute, many people who work outside of a typical office environment may encounter additional obstacles, such as achieving a work-life balance.
If you own a small firm that relies on freelancers and remote workers, there are a few things you can do to keep the workplace professional while also ensuring that your employees feel supported from afar. Use communication systems like Slack, Zoom, or Google Meets to check in on your employees on a frequent basis.

Taking the time to chat digitally with your team, retaining your unique company culture, and expressing your thanks for their hard work with meaningful gestures or bonuses are all other methods to support your staff when working remotely.

For many small business owners, running a business in these uncertain times can be difficult, therefore we hope that these small business trends can provide better inspiration and suggestions on how to run your small business more smoothly.

At Persona Finance, we strive to make your business needs as simple as possible by providing the most necessary remote accounting services. We are committed to bringing even more value to your business, from bookkeeping through VAT returns. For more information on our services, please contact us at [enquiries@personafinance.co.uk].