Small businesses are facing huge challenges in 2022. Inflation has reached a 40-year high and the subsequent cost-of-living crisis will limit the spending power of consumers across the UK. In this context, small businesses must use every edge possible to remain profitable and healthy. Below, we explore four small business trends that you need to know.
Mobile marketing is one trend that you should be on top of as a small business. This refers to the process of enticing customers to purchase through their phones while on the go. One of the best ways to achieve this is through geotargeting. This is a form of advertising where you target a local area. Advertisers can choose different content for each area they’re marketing in. This can help you tailor your advertising for different peoples’ preferences and conduct your mobile marketing more effectively.
Personalization is another business trend that you should be following. This refers to the process of creating an individualized experience for each customer. By making customers feel special, you’re more likely to hang onto them in the long term. You can achieve this by personalizing your customer service: not only should you use names, but you should also ensure each customer has their dashboard too. Finally, a loyalty program is an excellent strategy for making customers feel included in the business with specialized schemes and rewards.
Another trend to stay on top of is building an online community for your small business. This idea refers to nurturing and maintaining an online group of customers who love your business and are engaged with your updates. You can build this by investigating brand advocacy: paid influencers will promote your business through word of mouth. Plus, you could try out live streams with customers where you give out prizes and enjoy quizzes and other games.
Finally, transparency is another trend you should follow. Consumers are more interested in brand ethics than ever before. By hiding aspects of your business, you’ll draw suspicion and lose customers. Instead, you should look to be open and honest to show a genuine side to your business.
2022 is set to be a difficult year for many small businesses. But by following the trends above, you should be in a position to navigate through this turbulent year.