With the COVID-19 pandemic surrounding every aspect of daily life, small businesses are searching for the right opportunities to stay afloat. The current lack of physical options has led people to rely more on the digital landscape, which proved to be of great value to small businesses who are looking to expand their reach and revenue.
At the start of the year, it was reported that businesses would spend $1.3 trillion on digital marketing in 2020. However, the impact of coronavirus is changing this since businesses are already cutting costs.
Although these are challenging times, small businesses now have the opportunity to figure out what works with their marketing strategies and channels. Here are a couple of trends, tips, and tricks all business owners can look forward to in 2020 and beyond:
1. Employee Health and Wellness Matters
With the challenges all of us are facing during the ongoing pandemic, companies, now more than ever, have to prioritize the health, wellness, and happiness of their employees. Investing in their wellness and health will keep them engaged, motivated, and productive. It will also benefit your bottom line.
Remote work has become a new normal. Therefore, allowing your employees to work from home even after social distancing ends should be an obvious first step. If this isn’t an option, try to offer flexible working arrangements. A flexible workplace program can be beneficial to your company in more ways than one.
2. Embrace the Gig Economy
According to a poll by Gallup, around 36% of US workers are in the gig economy, which coincides with the rise of the remote worker. Gig work is becoming more and more popular because it gives workers flexibility and the opportunity to be their own boss. Most small businesses can’t financially hire permanent employees, which makes it difficult to find and hire the right talent. That’s why the gig work is crucial because you can hire someone temporarily, and they can work remotely without the need of them coming to the office.
3. E-commerce Dominates ‘New Normal’
Statista recently reported that global e-commerce will grow to about $5 trillion within the next four years! With such numbers, it’s not a surprise that tons of retailers are moving investments from physical storefronts to online stores. That’s why it’s crucial to leverage social media to gain more sales, improve shipping time, and more.
4. Build a Strong Social Media Presence
With the amount of social media channels at our disposal, there are more chances than ever to better connect with your customers. Stories are now trending more than ever, and since they bring a ton of attention, they should be used as a primary way to convey your message.
5. Make Customer Service More Personal
Your customers are individuals, so you need to provide them with a customized experience. According to Gartner, smart personalization engines that recognize customer intent will enable digital businesses to increase profits by up to 15%. So, instead of showcasing everything to every customer, cut out the noise and give them exactly what they want.
If you need any help in encouraging innovation in your small business, feel free to contact us!
