The continuous innovation of technology helps businesses, whether big or small, by providing access to an effective and low-cost way to communicate with their customers and to create new products and services. 2016 may have introduced a lot of ways on how to expand a business, but 2017 has something new in store that is focused on small businesses.
As the number of mobile users who surf the internet increases and overcoming the number of desktop users, social media, Internet marketing and e-commerce level up to be more mobile-friendly and responsive. Small businesses are the ones who should stay updated about the latest trends and ideas that can help expand their company and create more conversions. To help small businesses expand and have more conversions, here are small Business Ideas for 2017.
1. Notice the millennials
This generation is under the spotlight since the baby boomers are reaching the age of retirement. This just means that the millennials are now slowly entering the workforce, hence giving them buying power. In terms of work, millennials have different work ethics than their predecessors and hiring them can have a fresh take on the business. They want concrete leadership, guidance and opportunities for them to achieve growth and success. Also, they can easily adjust to new technologies, thus decreasing the phase of studying something new. Hiring them can give you insights on modern-day technology since they use it in their day-to-day lives and can provide fresh ideas on projects.
2. Create a web presence
Small businesses should make their identity known not only in the physical world but also in the virtual world – the Internet. Consumers oftentimes search a business on the Internet to know if it is real and not a scam. They also search for customer testimonials and reviews to know if the new business they are going to try is worth it. Small businesses should allocate a certain budget to create a mobile-responsive website and social media accounts to have a solid web presence. The process should not end on creation; small businesses should update the website and accounts from time to time to keep the attention of potential and loyal customers. Remember, more attention means more chances of conversion.
3. Ensure catchy promos
Since more and more consumers are into online shopping, small businesses should create their own catchy and attention-grabbing web storefronts. There are many e-commerce platforms to choose from, which can be customised such as Magneto and Shopify. Promos are also encouraged such as free shipping to be able to convince consumers to buy more.
4. Have EMV payment security
Consumers who want to try online shopping are wary on payment options. If the business does not have the trusted payment options, then these potential customers will go to a competitor’s website. EMV or “Europay, MasterCard, and Visa,” are smart cards that have integrated chips where data is stored and is a technical standard for smart payment cards and payment terminals. Protect the business and customers from fraud with EMV payment standards.
5. Gather Business Information
Small businesses should invest in Business Intelligence (BI) software that can gather data and translate it in order to provide analytics and data. Knowing the fields where the business is lacking and excelling can be good points to consider in order to make the right business decision. Also, collected data and analytics can help improve and expand the business.
Small businesses should be able to come up with ways on how to become original to be separated from other small businesses. Keeping a web presence and catchy online store handled by millennials can keep the attention of consumers. A secure payment system and regular updates of websites and social media accounts will keep potential and loyal customers staying. These ideas will surely help business brokers Melbourne on ways on how to expand the business and have more potential and loyal customers.