10 Trends for Small Business

November 9, 2015 | Entrepreneurship

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With the technology constantly evolving, businesses need to keep up with the currents trends for business development and marketing. Here are 10 trends for small businesses:
• Social Media – There isn’t an active business now that doesn’t use social media as a form of marketing. Through the right platforms, businesses can communicate with various demographics and understand the needs of their customers. Platforms such as Facebook, LinkedIn, Twitter and Google+ are all free platforms which open the door for small businesses to advertise themselves.
• The face of your brand – Businesses are not only investing in well-known faces to carry their brand, but individuals who have a large digital following on social networks such as, LinkedIn, YouTube, Twitter and Facebook. As these influencers have an international following, they have the ability to communicate to your audience globally.
• Shifting away from tradition – The traditional business model is currently being reconstructed through the use of virtual/part-time offices. This alternative method is becoming mainstream due to its efficiency and cost savings for businesses of all sizes. Virtual/ part-times offices allow businesses to become more flexible and decrease risk for fresh, developing businesses.
• Freelance – Younger generations are promoting this trend as many wish to be self-employed, with the ability to choose their projects they find interesting or self-fulfilling. Freelancing allows the individual to explore various career paths and use a variety of skills which they attain.
• It’s in the palm of your hand – Most people have a Smartphone which can access the internet in a matter of seconds. That being said, content must be mobile-friendly with a positive user-experience. Without a memorable and easily accessible experience, potential clients will look elsewhere for your product.
• A change in marketing style – Consumers aren’t interested in product placement, they’re interested in more genuine and original content. Marketing towards an individual’s lifestyle is the new trend of 2015.
• Analytics services – Knowing your consumer and their needs is essential is developing a successful business. Businesses are now jumping on board with using analytics services as they assist in telling businesses the number of users on their site, the source and where they travel within the website itself.
• Crowdfunding – Not a new idea, however, crowd funding is making its way into the mainstream with small businesses using it as a way to start up their businesses. During 2015, there will be a continuation of growth with this method of financing.
• New age content – Brands are changing the way they advertise to customers as people are too busy to watch 30 second commercials. Videos and photos are the best way to display visual content to their audience. Vines, a short-form video. are increasing in popularity as these short clips last only a couple seconds.
• Simplification of business – The development of tools has increased for small businesses, simplifying the areas of accounting, payroll, HR, and administration. This development in business applications is cost effective and creates efficiency for small businesses.

In the ever changing world of business what trends impact your business the most?

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    Ellen BradleyIntegrative Counselling Services

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    Mark FriedbergCognovative Business Services

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