It’s vital to be on top of what’s happening in the industry and the world beyond. You never know when the right thing will come along. It might be a piece of technology, a new way of reaching customers, or a new way of thinking about engagement. Sometimes something comes along to make everything click.
With that in mind, here are four small business trends that you should keep your eye on as a business owner.
- Hyper-local marketing
The problem hyper-local is trying to solve is one of the oldest in the book: how do you get someone walking down the street to come through your door?
Local SEO experts point out that 82% of local searchers follow up either on the phone, by visiting the store, or through making a purchase. The trick is to make sure that your business is one of the ones that shows up on the top of the list. You want to be listed as many places as possible, and make sure that your information agrees across listings.
- Video small business trends
Oculus and other new video technologies are exciting not simply because they’re fun to play with, but because creating content is becoming easier and easier. With many 360 video solutions ranging from $250-800, keeping up with new video trends is becoming more affordable than ever.
Another technology that is quickly gaining steam is streaming video. Technologies like Periscope, Meerkat, Blab, and Facebook Live all let you broadcast directly from your mobile device. Livestreaming is a great way to offer a unique perspective into yourself and your business that can pay off in credibility down the line.
- Social Selling
The better you get to know someone, the easier it is to do business with them. And fortunately for small business owners, it’s easier than ever to get to know someone, thanks to social media.
Social selling simply means using social media as a tool to build credibility and trust, then applying that trust toward gaining new customers. If you consistently engage about particular topics, people will go to you when they need advice, and when they’re looking to make a purchase.
- Online Lending
While at this point we’re all familiar with crowdfunding and what that’s done to the startup scene, the newly passed Title III JOBS Act takes the concept of crowdfunding even further by allowing for the sale of small-scale private equity through intermediary websites like SeedInvest, RocketHub, and IndieGoGo. This gives you access to up to $1 million in small-scale funders with a lot less regulation than would typically be required to raise that kind of money.
While Title III is still new and there’s a lot to work out, it promises to be a game changer for small businesses that figure out a way to leverage it to raise money and grow.
Getting Ahead of Small Business Trends
Getting out in front of small business trends before they become standard is how you stay ahead and stand out. Hyper-local marketing helps bring people to you; streaming video and social selling can help to build your credibility and brand; and online lending can help you raise more capital to make a good idea a reality. Give any or all of these a try going forward to give your small business the boost it needs to get firing on all cylinders.
