As businesses rally from low profits and budget cuts in 2020, numerous small businesses will take a more conservative approach to their financials in 2021.
To help you prepare, we will tune in to the business trends we know will resonate in 2021.
After the stretch and vulnerability of 2020, clients are trying to find more than just quality items and services from businesses—they’re seeking out kindness and sympathy.
"To resonate trust with clients and make brand dependability, you have got to put them at ease with their minds and hearts. Our greatest currency is alleviating fear." according to Andrea Masucci, Chief Executive Luminary at The Andrea Group, "Customer connectivity is the way businesses will both survive and turn on new revenue.”
We tuned into the 2021 Small Business Trends.
1. As with the shifting economic markets, businesses will shift from a growth mindset to a more conservative approach to their financials and shift to a revenue generating strategy in 2021.
2021 will be a tremendous opportunity for digitization, outsourcing , solidifying software, renegotiating merchant contracts, or outsourcing marketing and training.
2. Work from home is our new next normal. Currently 42% of the U.S. workforce works from home full time, according to a 2020 report from Stanford University.
“I see a lasting move toward online and remote work that is permanent," according to Andrea Masucci.
3. Because we are living in a Digital Age, digitization is essential. To form a profitable relationship between you and your customers in 2021, it’s significant to function with a digital-first attitude and give options.
There will be big winners in 2021...and big losers. The losers will lose revenue, lost opportunity and even face massive extinction. The winners will find new energy and increased revenue by turning on digitization.
Extend payment options to incorporate computerized wallets like ApplePay
Offer virtual services
Create a mobile-friendly website
Create a self-service account portal
Include a client benefit of a chatbot to your site
Ad videos to your landing page and social media
Start on eCommerce store with digital products and services
4. Shopping local. One major slant since the pandemic of Covid-19 and driving into 2021 is the drive of shoppers to bolster little businesses and nearby financial growth.