Key trends your small business should leverage in 2020

2020 is here and as the business world slowly gets back to its normal rhythm and routines, it’s a good time to look ahead and revise your business strategies to reflect the evolving attitudes of today’s workforce and consumers. Take a peek with us at some of the most important trends that small businesses should be making the most of in 2020 and beyond.

More people will work remotely

Working remotely is becoming far more commonplace and that trend is expected to continue. What’s more, almost all employees want to do so! 73% of small businesses are expected to have remote employees by 2028, and in a recent workforce survey, 99% of respondents said that they would like to work remotely at least sometimes.

Offering employees the option to work from home or on the go can greatly boost productivity, increase employee retention and attract high-quality applicants from a larger talent pool. Remote working can also cut costs for employees and businesses alike with less commuting and lower overhead expenses.

Sound like a good way forward for your business? Embracing remote working requires new strategies and solutions to facilitate effective communication between team members in different locations, so take your time to find the best apps and tools to meet your business’ needs. Of course, you can still keep them on the clock with shift scheduling from Findmyshift.

E-commerce will increase its market share

Online commerce is growing at a faster rate in the UK than physical sales. By 2023, e-commerce spending is forecasted to make up 27.9% of all retail sales in the country, while mobile sales are expected to be worth £243.7 billion by 2022. And the changes don’t stop there. While voice commerce is still in its infancy, the technology is set to become a part of our daily lives and 50% of consumers could be using voice shopping by 2022.

Don’t miss out on the growth in online sales - in particular, make sure your website is mobile-friendly, and keep voice technology in mind when putting your e-commerce strategy together.

Stories and influencers will boost your social media campaigns

Make the most of your social media accounts in 2020 by focusing on stories and partnering up with experts and influencers.

Stories (short video clips that disappear after 24 hours) are a popular way for people to engage with businesses and brands on social media. On Instagram, 25% of Millennials and Gen Z-ers actively search for stories related to the products and services they intend to buy, and 15-25% of viewers access ‘swipe up’ links in branded stories, presenting a good opportunity to direct customers to shoppable pages. Other social media platforms to feature stories include Facebook and WhatsApp.

Forming partnerships with social media influencers is another fruitful strategy to increase your business’ visibility. Reach out to influencers who are a great match to your brand and already have a large following of people in your target market. Or check out sites like zine.co to browse successful social media accounts and find your perfect match.

Read more about how to work with influencers and bloggers here.

User reviews will play an increasingly critical role in purchasing decisions

The majority of customers today read reviews before making a decision to buy. 93% of customers say that online reviews have an impact on their purchasing decisions, and people are happy to spend 31% more on businesses with excellent ratings.

How can you benefit from this trend? Ask people for reviews (68% are happy to do so if asked), and put effort into responding to customer feedback (89% of customers will read your replies as well as the original reviews). When you do get a good review, make the most out of the positive feedback by featuring it prominently on your website or in a marketing campaign.

By keeping ahead of these business trends for 2020, small businesses have a chance to get a leg up on the competition and make next year their best one yet!

Explore now. No registration required.

No credit card required, nothing to download, no newsletters and no surprises.