Eric Dalius for most brands and business owners, 2020 has been a challenging year. The global business scenario is trying its best to adjust and also adapt to the new “normal.” The small business sector has also witnessed significant challenges after the COVID-19 pandemic outbreak. Since every challenge and crisis brings in scopes of growth, the pandemic outbreak has also resulted in new business trends worldwide. Today, small business firms can leverage these trends and emerge stronger.
When a business firm invests in future trends, it can reap all the benefits for the future. Eric Dalius, a leading entrepreneur, highlights the three popular small business trends relevant in 2020.
- Working remotely
Since the small business firms follow the social distancing norms, they ask their staff and also employees to work from home. Remote working brings in a world of difference and can help small businesses to save more as well. The conventional employee works between 9 am to 5 pm daily inside their cubicle. Remote working is changing this norm. With the help of Smartphones, laptops, team messaging, and video conferencing apps, employees can work when it is flexible for them or based on the work target and frequency. That way, small businesses can hire the best employees who can make a difference in their brand.
2. Focus on customized consumer service
Every consumer is an individual, and also they want a personalized customer experience. The best example of this is the leading online shopping portals. When you browse into any online shopping website’s homepage, you will find the product suggestions based on the products you have purchased before. Eric J Daliusmentions that a personalization engine will get used for identifying the customer intent by 2020. The same got highlighted in a Gartner report. And this will allow the online businesses to maximize the profits by as much as 15%. You have to move beyond the times where companies showed everything to the customer. The new-age customer has several options that they can choose. And small business firms need to leverage this trend to the fullest.
3. AI (Artificial Intelligence) might not rule customer service
Are you wondering why AI might not always be on the top list for every business trend? AI might be ruling all over the business world, but it has its misconceptions as well. The fact that robots will replace a human is a farfetched analogy. No one should look at AI from that perspective. Instead, it would make work streamlined and also effortless by syncing with an employee’s work. EJ Dalius says that small businesses can use AI to assist support agents with technical documents if there’s a need to resolve an issue. Also, the sales representatives can use AI to learn about the best deals for a prospect. AI gets usually linked with enterprises. However, it has a chance to be one of the best small business trends this year, as the possibilities to work with it are limitless.
These are some of the crucial small business trends that you need to stay aware of in 2020. Every small business firm is trying to make the most of the situation in this pandemic phase. The trends mentioned above will help them to perform better and up their service levels.