Ep 64: 2021 Small business trends & insights you need to know....Jan 07, 2021
In today's episode, I share the 2021 small business trends & insights that you need to know.
We're all excited about that for sure. And, as I've said before, this is such a great time to get your business going & making money :) These can help you figure out how to best start & run your fabulous business:
1. You must have an online presence. Whether it's your own website, an Etsy store, a FB business page/Instagram page, etc. Right now somewhere around 16-18% of all retail sales are done online. By end of 2023, 22% will be online. Crazy, right? Also - make sure your product photos are really good - and show several angles. If you can upload a video of them too, even better!
2. Paid ads on FB & Instagram are still huge. Not only can you use them for your business, but realize that they are being used ON YOU. Yes, you are getting targeted to all the time, so watch out. And, my recommendation is you do NOT do paid ads until you have your business dialed in, message nailed down, and know how to properly run an ad. Otherwise, you will be throwing money out the window.
3. Connection is key. Yes, you need to be making authentic connections with those you seek to serve and past clients. What is your preferred method for bonding/communicating/connecting with clients?
4. Social shopping is growing. This means that people are starting to buy through FB & Instagram. You have seen products advertised and the buy now availability. So, if you have a product-based business, you may want to look into how you can post your top-selling items and see how it goes.
5. Reviews are super important. People want to see social proof and testimonials. So, make sure you are asking for them as you work with people so that you can use them in your marketing efforts, on your website, etc.
6. Offer multiple ways customers can buy your products. Offer to sell them in your store or online, then also for pick-up or delivery, etc. Just make sure you have multiple ways they can receive your products because some may be scared to come in your store or may want to have it delivered or may want to have curbside pickup, etc.
7. Free Shipping option for online purchases vs faster shipping. If you are offering an incentive on your website, know that people tend to prefer free shipping over faster shipping. And know that faster shipping is very expensive for you as a seller - so this is good news that people like free shipping instead.
8. Your website needs to be mobile friendly - more people buy on mobile vs desktop. By the end of 2021, mobile device sales are expected to make up 73% of e-commerce sales. Check the mobile view of your website and also test your speed. Here is a Google test for you to test yours: https://search.google.com/test/mobile-friendly - MAKE IT EASY on your customers to buy from.
I hope this gives you an idea of what is important this year for your business and how to meet customers where they are :) I'm so excited for you!
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