Successful business owners and savvy entrepreneurs are always looking to the future to see how the markets, technology, and consumer behavior will change over time.
If you’re a small business owner, staying up-to-date with the top trends for the year and anticipating how they can enhance your industry can help you stand out from the competition and capitalize on potential opportunities. So, what trends should small business owners and aspiring entrepreneurs watch out for in 2020? Here are a few to look out for.
Customer Follow-Up Polls
Following up with customers is critical to the success of any marketing strategy, and following up with existing customers and potential leads can help you build long-lasting relationships. According to Forbes, customer follow-up can be as simple as checking in with an email sent a few days after a purchase or a personal call outreach. Letting your customers know you care about them and appreciate their business creates a stronger connection with your company and encourages repeat purchases.
If you’re not sure how to reach out, consider trying peer-to-peer (P2P) texting software. As a leading provider of P2P texting software, Peerly allows small business owners to quickly and efficiently conduct customer follow-up polls through peer-to-peer texting. Small business owners can reach out to customers and ask them about their experience, and each answer collected is instantly exported or imported to your CRM.
Bold Branding
Building a unique brand can help you stand out from the crowd, and more and more small business owners are taking chances with their brand image. Bold branding can be executed with the help of dramatic photographs, abstract drawings, or artwork that incorporates bold colors, lines, and patterns.
To get the word out about your brand, try giving away freebies with your brand logo to loyal or potential customers. Freebies can be anything from t-shirts and keychains to folders and pens, but the more relevant the product is to your brand, the better. For example, if you’re trying to raise awareness of your accounting firm, creating custom printed folders with high-quality paper stock can reinforce your brand’s image of quality and professionalism.
Mobile Apps
According to Statistica, worldwide retail eCommerce sales reached $3.53 trillion in 2019, and eCommerce retail sales are projected to reach $6.54 trillion in 2022. To compete in the oversaturated eCommerce market, more and more online businesses are beginning to sell directly to consumers by creating their own mobile apps.
Whether you’re a new business or new to the digital space, creating your own mobile app is easier than ever. No-code platforms make it easy for small business owners to generate their own mobile app, which reduces the expenses and labor associated with hiring an app developer.
User Review Management
As eCommerce continues to drive the retail space, user reviews are becoming critical to the success of small businesses. In other words, user review management software, which allows small business owners to check reviews and gather customer feedback—is more important than ever.
Regardless of what industry you’re in, user reviews are essential. According to a recent study, 97% of interested customers read reviews for local businesses, and the majority of customers glance at user reviews of products before making the decision to purchase online. To compete in the eCommerce market, integrating user review management into your marketing strategy is a necessity.
Going Green
Gen Z and millennials are becoming increasingly conscious about the brands they choose to buy from, and these demographics will have the majority of purchasing power for the next few decades. In a 2018 study, McKinsey & Company found that:
- 70% of Gen Z consumers try to purchase from ethical brands.
- 65% of Gen Z consumers research the origins of products.
- 80% of Gen Z consumers refuse to buy from companies involved in a scandal.
Although sustainability is a catchy marketing ploy for many businesses, modern consumers are serious about going green. Incorporating sustainable practices and keeping up with the latest trends can help small business owners drive business from Gen Z and millennial consumers.
All in all, paying attention to emerging technology and new trends can help you grow your business and ensure that your small business runs smoothly.
