By: Charlene Dunbar
Wish there was a way to know the business outlook for the next 12 months or 5 years? We rounded up seven small business trends that handmade entrepreneurs need to take advantage of in the coming year.
#1 – Alternative payment options will continue to be important
Consider installment payment options for your online store or touchless pay options like ApplePay for in-person selling if you haven’t already.
#2 – Remote work will persist
You may need to adjust your product offerings, “reason to buy” or expand to services (virtual candle-making class anyone?) because the more-time-at-home trend is here to stay.
#3 – Spend on social media will increase
As customers spend more time online, how will you get their attention in a crowded online space? According to Business News Daily, social media ad spend will increase by 15% in 2021, growing the total spend on ads to $105 billion.
#4 – Use of mobile marketing
Is your online store optimized for mobile? Sending text messages or geo-targeting potential clients using Google ads can help keep your handmade brand top of mind for customers who are ready to shop.
#5 – User reviews will continue to matter
User reviews provide “social proof” that gives buyers confidence to buy from you online, sight unseen. Are you putting user reviews/testimonials to work in your online store?
#6 – Empathy is the gold standard
Customers want to buy from people who can relate to all the challenging things we’re experiencing IRL. Displaying empathy in your communication can help build trust with customers.
#7 More consumers will prioritize shopping small
According to Fundbox, 59% of consumers would rather buy from a small business vs. a large corporation. Don’t be shy about sharing your small business journey; customers are rooting for you and want to support your handmade business.
Which business trend resonates with you the most? I need to hop on the mobile marketing train and plan to get an app that can help with that. Drop us a note below and thanking for reading!
Sources:
SBA.gov/Top Business Trends for 2021
Business News Daily/12 Small Business Trends and Predictions for 2021
Wix.com/8 Small Business Trends to know for 2021
Fundbox.com/5 Small Business Trends for 2021