5 Small Business Trends in 2020
By Kevin Scanlan, Certified SCORE Mentor
If you have a small business, it’s essential to keep up with the latest trends in technology, marketing, customer service and other areas that could impact the success your business. Inc. Magazine identified the following trends that may affect your business in 2020.
Many customers prefer businesses that are “green” and socially responsible. Examples include using local products as much as possible, minimizing packaging, encouraging customers to use their own bags and recyclable materials for packaging. Use green cleaning products and patronize fellow vendors and services that are “green.”
Customer reviews will be more important than ever, especially on-line reviews. Customers trust reviews over ads or any other content that businesses create themselves. Google My Business, Yelp and other sites that are relevant to your business may be helpful in promoting you to potential customers. Gently “nudge” your customers to leave reviews of their experience with your company. Be prepared for some less than positive reviews. If you get a negative review, respond to it immediately, apologize and, if possible, offer a resolution. Customers appreciate it when the business owner listens to them and responds.
Learn to leverage e-commerce. E–commerce may be a way to expand your business without expanding your physical space. There may be products that are complementary to yours that you could sell (or cross-sell) from another business, expanding sales opportunities for both of the businesses.
Mobile marketing. One of the top trends in 2020 is the increase in mobile marketing. An example is using geo-targeting to provide ads targeted to customers in your service area. Text message advertising is a great way to reach customers with your latest offers and sales. Expand your payment options to include mobile payments such as Google Wallet, Apple Pay, Visa Checkout and others.
Livestreaming. Facebook, You Tube and Instagram can be powerful marketing tools. Keeping in touch and attracting new customers in our digital world is a critical element to success. Post frequently and provide the latest news about your products and services so you are in constant contact with your customers.
As always, if you would like to meet, send me an e-mail at kevin.scanlan@scorevolunteer.org.
