Almost 3 months into 2016, it’s high time for small business owners to start capitalizing on the coming trends this year. More so than ever, 2016 promises to be a good one for entrepreneurs and existing owners alike, with advances in technology and Internet marketing altering the landscape in ways we’ve never seen before. Here are four of the trends that we’re noticing that you should definitely pay attention to as 2016 continues.
1) Keep millennials in mind. Marketing has changed significantly, and this is due in no small part to the rise of the millennial demographic group. America is home to over 83 million millennials, making it the largest demographic group ever born in the nation. These individuals are making a huge impact on every imaginable industry, especially now as the majority of them reach the average age for getting married, buying homes, and raising families. Millennials entering the workforce demand growth and career opportunities wherever they go, encourage collaboration, and adapt to new technology with ease. For business owners, this means that you must foster a collaborative work culture, stay at the front of technological advances, and live by a clear-cut mission statement with transparent company values.
2) Maintain a solid web presence. Did you know that 45% (almost half) of small business owners don’t have a website? Internet tools are affordable and easily attainable by small businesses in virtually every field, and there is no excuse to not be using them. The internet gives you unprecedented control over the development of company and personal branding, as well as access to an honest, 24/7, two-way communication between customers and yourself. With programs such as WordPress and Squarespace, it is easier than ever to create a clean website without an elaborate knowledge of coding.
3) Embrace electronic commerce. With the millennial generation accounting for a quarter of the American population, it is more important than ever to demonstrate a willingness to engage in the online shopping market. More and more, consumers are resorting to buying products off of the web rather than going into a retail storefront, making ecommerce a necessity for almost every small business. Look into internet tools such as Magento and Shopify to help build an ecommerce platform for your business.
4) Use business intelligence to your advantage. Business intelligence is an umbrella term for software programs that you can use to gather consumer data and translate it into information that will prove useful in your business. Historically, online large companies had access to this technology, but once again, the power of the internet has put this tech right at your fingertips. Software programs such as Cyfe can grant you access to sales data, search engine optimization, social media analysis, and much more. No matter how big or small your enterprise is, I guarantee that you can benefit from business intelligence software.
