The current market holds vast potential for your small business, but the same goes for your competitors. Social and technological changes have a lot to offer as long as you’re changing with them. To keep up with the competition, you’ll need to keep up with trends.
To make the most out of upcoming business trends, you should adopt them early — but to adopt them, you have to understand what they are and why they can help you. Here are six trends for 2020 and what they mean for your business.
1. Focusing on User Reviews
As trustworthy as you may be, customers trust each other more. The meteoric rise of eCommerce has made reviews easier to access than ever, making them a more significant part of the decision-making process. If you’re not posting reviews, you’re falling behind.
It’s hard to overemphasize this point. More than 90% of consumers use online reviews to influence their purchasing decisions. If you offer great products and services, you’ll likely get positive reviews. Why not take advantage of that?
2. Capitalizing on the Gig Economy
Technology has made gig work a more viable option. The popularity of ride-sharing apps, online art stores and the like speaks for itself. Not only is it popular, but capitalizing on the gig economy can save you money in several ways.
If you’re hesitant to start a new business, you can try it as a side gig first. If your business is already up and running, you can consider offering gig work to potential employees. Not only can this save money, but it provides a great way to find good full-time employees.
3. Going Green
You hear people talk about the environment almost every day now. Eco-friendly businesses not only help the planet, but they also appeal to a consumer base concerned about the issue. More and more companies are waking up to this, so you’d likely benefit from doing so as well.
This trend isn’t just seen in small businesses, either. Major companies such as McDonald’s, Google and Bank of America have all employed major eco-friendly initiatives. You don’t have to get down to zero emissions, but making some small environmental changes could help improve your image.
4. Marketing With Stories
You probably already use social media in your marketing. Stories have become a standard across social platforms, and their consumption has skyrocketed in recent years. To make the most of your social media campaign, consider using stories more consistently.
5. Employing More Remote Workers
Finding good help can prove challenging. Luckily, with more than three million Americans working from home, your options are more abundant than ever. Hiring remote employees helps you find more help and provides potential workers with more opportunities for work.
6. Engaging Generation Z
As time progresses, Gen Z will make up a more significant portion of the market. Not only that, but increasingly more Gen Zers will join the workforce. In both your hiring and marketing, you need to be thinking about Generation Z.
This isn’t a potential stumbling block — it’s an opportunity. Gen Z has used the internet their entire lives, and to survive in today’s market, you need to be internet-savvy. Hiring out of this new generation will help you appeal to the members of it who are now buying your products.
Help Your Company Stay Ahead With These Trends
To stay on top, you have to stay ahead. You should always be on the lookout for new trends so you can adopt them quickly and integrate them efficiently. Consider these trends when moving into 2020 and look for changes that will affect the years to come.