top of page
Search

Current and Future Trends for Small Businesses

Aqua Blue
Nov 23, 20215 min read

Updated: Dec 7, 2021



Here are 10 top recommendation of trends that will effect Small Business

The Future for Small Business look positive, trends for Small Business
Future Trends for Small Business

The current Covid situation has taught us all small businesses that being agile is extremely important but it also creates enormous stress if you feel the need to constantly react to market situations. If you monitor trends you can start planning to pivot in advance rather than react. Following every trend can be both exhausting and unproductive. Planning for potential trends is important to make the most of growth opportunities and potential risks. Take a look at some trends we felt important to small business to be prepared for

1.Excellent digital footprint

  • Easier said that done. As a small business owner it's hard to know what the right digital footprint is. I personally think this is an area you need to talk to the experts but here are some things you can do to get started

  • It's vital to register your business with google and this is extremely easy. You need to be seen on google so you customers will find you. Local is important as one of the most search term is {business type} near me. You need to feature here

  • Ensure your website is optimised and easy for your customers to get the information they want. Test it with your target customer and get their feedback. Are your customers driven to the desired destination quickly? Just because you like your site doesn't mean that your customer has the same experience.

  • Use Google analytics to look at the speed of your site and other important site metrics. How many people visit your site but bounce off straight away?

  • You must get the two above right before you start you digital marketing campaigns. Digital marketing campaigns are extremely complicated and can be costly to learn but if your website is poor no marketing campaign can make up for that


2. Agility. The need to adapt and pivot

Covid threw small businesses into a situation where agile businesses thrived. Agility creates loyal brand advocates and lays the framework for innovation. Ensure your businesses culture has an entrepreneurial spirit with a flexibly mindset. Through Covid many F2F businesses pivoted to building online courses and shopfronts. Here are some great examples. There are so many examples of agility that can be applied anytime, not just during pandemics.

Planning for Trends reduces the stress of reactive response
Planning for potential future Trends


3. Digital Saturation

We can find everything and anything online so how do you stand out, how do you even get to the first page of google? You can knock yourself out learning about how to optimise your digital presence but maybe you can go back to old school marketing tools eg. traditional mailers or postcards instead of just email newsletters. Why not have face to face workshops. If you own a pizza store, why not do a local handwritten letter drop to the local businesses or apartment block. Don't underestimate the power of word of mouth as customer reviews have become extremely important in the world of digital saturation. I love these ideas you can add to your marketing mix


4. Customer Reviews

In a digital world, trust is hard to find. Utilise your customers to provide positive reviews but ensure they're "authentic". According to BrightLocal, 85% of consumers trust online reviews as much as personal recommendations - the single most trustworthy and credible source of "advertising" out there. We're loosing faith in business so customer reviews have become more important in the non personal online space


5. Joint Ventures

Opening a brick and mortar business can be a risky venture so why not share the burden with "similar" businesses who have a similar target audience. Share the pressure and build strong business relationships eg. Hair Salon and Nail Salon in the same shop. Cafe in a cycling store has always been a great pairing. You can do the same online and promote similar businesses and support each other to create a greater online presence. Why not partner with another website to cross sell and promote each others products.Share the pain and also the success. I love some of the suggestions from this site to help with idea generation


6. Go Local - Supporting Local Businesses

Increasing Trend is to shop and support local businesses
Supporting local Business Increasing Trend

With the emergent of super organisations setting record profit while the local small business struggles to stay alive, local communities are raising the importance of supporting local business. "A third (32%) of global consumers claim their neighbourhood banded together mid-pandemic. Can your brand make urban life better, in more ways than one?" https://info.trendwatching.com Why not bring local businesses together to support a local initiative. Ensure you sincerely support the local initiative and you'll build a strong clientele. Don't just sponsor the local soccer team, make sure the soccer team know you and feel your support


7. We want Experience vs Stuff

How can your business add an experience to their purchase. Help your customers learn about the product or service you offer. Can they become part of the process in developing the product. Emerse your customer in the experience you have with your business. Make it fun, welcoming and social to come into your business. Simply make conversation with every customer. When you send digital purchases offer a story with the purchase and a personalised thank you. You're building an experience, personalised around your business. "During the buying journey, companies that deliver a great buying experience grow twice as fast as those that deliver average experiences" Gartner Sell the experience for your customer don't just sell stuff

8. Customer Experience

We all recall the fantastic experience we have when we walk into a business and they just understand us. The service is impeccable, it feels like the business can read our mind. This business has managed to grasp an understanding of the "customer experience". The customer experience isn't just about the minute they land on your site, it starts with the very first interaction to the end of your relationship. Read more with a how to build your own customer experience


9. Conscious Convenience

Amazon grew rapidly during the pandemic but we've become more conscious of our addiction to online purchasing and becoming aware of its negative impact. Help your customers feel comfortable with your offer of convenience without the responsibility eg. pick up discarded waste from your product and reuse or recycle. Reduce packaging or offer pick up service from local grocery store to reduce environmental impact

10. Data Driven Strategies

"When a company employs a “data-driven” approach, it means it makes strategic decisions based on data analysis and interpretation. A data-driven approach enables companies to examine and organise their data with the goal of better serving their customers and consumers" www.atinternet.com Businesses are making strategic decisions based on the data that is available to them. The health of your digital footprint will help you make better, data driven decisions. Excellent data will help you increase customer conversion, more appropriately serve the information and products to the customers who are looking for them and ultimately provide you with higher ROI and competitive advantage.


ADDITIONAL RESOURCES




 
 
 

Comments

bottom of page