The small business landscape has been evolving in recent years. Companies are changing the way they do business, and consumers are making new demands. If you are a small business owner, consider these current trends for small businesses.
Increase in Number of At-Home Businesses
Home-based businesses continue to gain popularity, with nearly 70% of today’s new companies being launched and run in the home. This arrangement is a great way to satisfy social distancing requirements, but there are also other advantages. By running your business from home, you can reduce overhead costs, save time by eliminating your commute, and achieve a better work/home balance.
Shift to Flexible Phone Systems
As the home-based business trend continues, innovations are focusing on ways to improve the communication and connection between consumers and these companies. Gone are the days when receptionists were stationed at business entrances to greet customers, screen calls, and take messages. Instead, businesses now need a flexible communication system that provides a seamless connection with customers.
A business softphone brings the functionality of an office phone to mobile devices, tablets, and computers. The software enables companies to use the internet to make, receive, transfer, and forward calls. It can also provide businesses with additional options such as detailed call logs and voicemail services. In addition to being easy to install and cost-efficient to operate, softphones can help you stay better connected. Even when you are on the go, you can use your mobile device to ensure customers can reach you.
Need for an Online Presence
Having a substantial digital presence is a necessity in today’s business world. Consumers spend much of their day online, and they expect a convenient and seamless shopping experience. To keep pace with consumer expectations, consider offering:
- Virtual service
- A website that functions on desktops and mobile devices
- E-commerce platforms
- Online scheduling portal
- Several ways to reach you online
- Digital payment options
- Customer service chat option
Digital marketing is also essential. With target customers spending many hours per day on social media platforms, businesses can reach potential clients by creating engaging posts that feel authentic rather than pushy.
Demand for Transparency
Today’s consumers demand and expect transparency when shopping. Because they want to do business with companies that they feel good about, they wish to know details, including:
- What ingredients are in your product?
- Are you environmentally conscious?
- What is your carbon footprint?
- How do you test your products?
- What type of labor do you use?
- What are your hiring practices?
- Do you offer a warranty?
- Do you accept returns?
Savvy business owners provide customers with the transparency they expect. When communicating and marketing to consumers, aim for clarity, authenticity, and honesty.
Expectation for Responsible Behavior
In addition to demanding transparency, consumers want to do business with companies that are responsible corporate citizens. If your organization doesn’t have a vision or purpose, consumers are likely to shop elsewhere.
To create trust and secure a good customer connection, your company needs to demonstrate empathy and give back to the community in some way. Charitable work should be part of your vision and, ideally, be a permanent component of your business plan.
Additionally, you should listen and respond to your customers’ fears, needs, and concerns. The best way to do this is by providing the level of service, flexibility, and responsiveness that today’s consumers expect.
As your business moves forward, it’s wise to look at where things are heading and set yourself up for success by understanding the trends. By understanding what consumers are demanding, as well as adopting popular innovations geared towards the new way of doing business, your company can optimize performance and experience success.