Adapting Your Business for 2021 and Beyond
The year 2020 was, ummm, let’s say memorable to put it politely. In the middle of a pandemic, small businesses needed to get creative, be resilient, learn to pivot and adapt their business to the continually changing challenges. And for 2021, it’s believed businesses will need to continue to evolve.
Here we gathered a few small business trends that are likely to happen in 2021 along with some tips to help position your business for growth this year:
Even before the pandemic, remote work had already been on the rise. During the pandemic, those numbers catapulted. According a 2020 report from Stanford University 42% of the U.S. workforce works from home full time.
Companies have found ways to pivot and successfully run their businesses in this new environment. Looking into 2021 and beyond, it’s expected that work from home will continue. And though working remotely can come with some communication challenges, the upside is fewer overhead costs. This means more money you can use to reinvest in your business.
The pandemic forced a quick shift from physical stores to online shopping in what seemed to be virtually overnight. According to a report from IBM, it has accelerated e-commerce by five years.
Plus, e-commerce is expected to have increased by 20% in 2020. So, what can you do to ensure your business is ready for this shift in consumer spending?
Now is the time to create and/or review a seamless e-commerce experience for your customers. Take a look at your website and ensure its easy-to-use, engaging and optimized for mobile.
In 2020, many businesses saw a decrease in revenue and budget cuts. It’s forecasted that companies will be financially conservative in the coming year. This won’t be the year where you’ll see a lot of risk-taking. Instead focus will be on projects where immediate positive ROI can be had.
Assess your internal operations and take note of any areas where processes can be optimized in order to save money. Look for ways to reduce costs. Some areas you can look at include: renegotiating contracts with external vendors, consolidating systems or looking for economies of scale, automating administrative tasks, paring down your offerings to only your most revenue-generating or profitable items, being selective about new products and launches, etc.
Not being to see people in person can be a big hurdle for communication. Words and tone tend to get lost in translation. And after the pandemic, customers are looking for compassion and empathy.
In order to build trust, you have to connect with your customers. And what better way to do this than with voice! Speaking over the phone with someone lets you address your customers’ fears and concerns right away. Plus, when you get them on the phone you can get immediate feedback so you can tailor your offerings, double check the policies you have in place, and hear directly from your consumer.
If you’re looking to stay in touch with customers in 2021 and beyond, magicJack for BUSINESS has the tools to deepen that connection. Click here for a free quote!