The year 2020 brought drastic changes in the business world. Some businesses were forced to close down while others were fortunate enough to push through the struggles and adapt to a new working environment and fresh demands.
All thanks to the need for social distancing, people stuck in their homes increased the sales of online businesses to massive heights. Similarly, the rise of numerous small businesses is undeniable since people are looking for ways to express their creativity and make money off of it simultaneously.
Today, small businesses continue to soar with new trends to watch out for this year. First trend that we’ll surely be seeing all year long and maybe even then, is the growth of e-commerce. Small businesses are perfectly aware of the impact of digital footprint and visibility on their brand which is why many entrepreneurs do not neglect building an online presence and engaging in it.
What better place to present your product or service in than on the internet where everyone spends a significant amount of their time in? A substantial online visibility can help open new doors of opportunities for projects or partnerships promoting business growth.
If you think having an online store limits customer interactions then you are absolutely wrong. In fact, netizens are extra apprehensive when it comes to the brands they support. People online are quick to spread news and opinions which is why when a small business gains a satisfied customer, you can expect them to tell everyone about it.
This trend is particularly reasonable because it gives emphasis on customer reviews and relations. One factor that people adore about small businesses is their approach to building and maintaining a healthy relationship with their customers even if it’s just online.
Retaining customers will most probably be the focus of most small businesses because this is a fool-proof key to build credibility and trust among the target market.
Customer reviews are one of the factors that first-time buyers look into when checking out a brand so if they notice that most of the feedbacks in your store came from unsatisfied clients, they are out the door.
Furthermore, product or service qualities are not the only aspects customers pay attention to but they also look into brand ideals. A distinct presentation of brand vision and purpose is just as important nowadays as people tend to be more conscious.
For example, small businesses that don’t adhere to proper ethical standards are put on blast and worse, boycotted. On the other hand, customers praise small businesses that show intact integrity like treating their employees with decency.
With that being said, employees’ well-being is also taken with high regard in the business world today. Prioritizing employee well-being could include giving more physical and mental health benefits, social support, team building opportunities and flexibility in the workplace.
It’s nice to say that the trends going around in the world of small businesses aren’t just focused on profit but also on values.