Driving small business growth throughout 2021
March 4, 2021 10:22 am Leave your thoughts
There's no doubt that for companies of all sizes across nearly every industry, the past few months have permanently altered the way people do business.
The economy continues to fluctuate almost a year after COVID-19's impact was first felt in the U.S. Market trends that initially emerged as a direct response to lockdowns and other safety regulations have begun to become a permanent change to consumer behavior. For small-business owners, finding new ways to adapt their strategy and remain agile in today's digital world will be the key to not only survive, but to grow their company and thrive.
Going digital with customer service
If business owners haven't yet already, establishing an online presence will prove essential this year and beyond.
Having a digital channel for consumers to reach out for customer support and contact your team with any additional questions will allow you to maintain a connection with them even if they are not yet comfortable with returning to brick-and-mortar locations.
If your company does not yet do a significant amount of sales online, it's still critical to have an active website or social media pages to engage consumers. As Hubspot explains, by maintaining an online presence, small businesses can improve customer acquisition and retention. This will also improve customer loyalty in the long run, as 73% of customers say they stay loyal to brands due to high-quality customer service.
Buy online, pick up in store
Once your small business has created and maintained a strong online customer service platform, you should look toward the channel as a new potential revenue stream.
Consumers are prioritizing health and safety concerns now more than ever, and in a recent study, Deloitte found that 56% of consumers were still anxious about shopping in stores. Only a quarter of executives surveyed believe that this apprehension will decrease in 2021, meaning that small-business owners must begin to provide shopping channels that align more closely with the needs of today's customers.
By offering a buy online, pick up in store (BOPIS) option, consumers can browse your website from the comfort of their home, complete the transaction on their computer and then drive to your nearest location to pick it up. Some retailers have taken this a step further by offering a contactless option where employees place the purchase in the customer's trunk or outside for curbside pickup.
This convenient and safe alternative to traditional shopping has been gradually on the rise in recent years, and as a result of the pandemic, it's seeing a major spike in popularity. TotalRetail found that more than half of consumers actually decided to shop with a specific brand because they were able to complete the transaction via BOPIS.
Remaining agile
While the full economic impact of the pandemic has yet to be fully demonstrated, it is clear that the market and consumer behavior has dramatically transformed in just under a year. For small businesses, keeping on top of these trends and maintaining their digital channels will prove essential in 2021.
Need additional assistance with corporate matters and various other types of legal concerns? Call the Law Offices of Donald W. Hudspeth, P.C. at 866-696-2033 or contact the firm online to make an appointment.
Categorised in: Starting a Business in Arizona
This post was written by