10 Small Business Trends for 2021

There used to be a time when trends emerged every decade or so. When you compare the lifestyle and business techniques used in the 50s, 60s, 70s, and 80s, they all differed drastically.

But now, trends are occurring at a higher frequency and pace.

And we can thank technologies like Google and social media for this.

So what will 2021 will bring for small business?

Let's take a look at some of the trends we'll see this year.

1. AI Will Automate Businesses (Alleviating Mundane Tasks)

Surely, you can create a long list of tasks you don't enjoy doing each day. Many of which can be done by just about anyone.

With the emergence of artificial intelligence, business owners will be able to delegate these tasks to their AI counterparts. It'll also help to pave the way for more innovation since you'll have more time to plan and implement new ideas.

2. Cashlessness Will Become the Norm

Everyone's switching over to digital payments. You have eWallets that allow consumers to pay for products and services without revealing their critical financial details.

And online platforms that enable consumers to complete credit card and ACH transactions online.

The small businesses that adopt contactless payment will stay ahead of the curve.

3. Cyberattacks Will Become an Issue for Small Businesses

Over the past few decades, we've witnessed retail giants get slammed with cyberattacks and breaches. It's a scary situation no company wants to be in.

Unfortunately, we're likely to see this trend shift over to smaller companies.

In 2019, roughly 43% of data breaches involved small businesses.

Be sure your company ramps up on cybersecurity and protocols to prevent it from ruining your year (and reputation).

4. The Rise of Smartphones Will Continue

There are roughly 3.5 billion smartphone users in the world. They're using these devices to search for information, products, services, and local businesses.

With that being known, what will you do to accommodate your mobile audience? You're going to need to have a website with a responsive design so that it operates seamlessly across devices and screen sizes.

Make sure your site offers a great experience for mobile users, or you'll risk losing them to mobile-friendly competitors.

5. A Higher Adoption of AI

AI won't only be used for handling mundane tasks. Many different platforms are emerging that can help with all sorts of business processes.

For example, AI can help you write better content to emotionally connect with your visitors. Or machine-learning customer data platforms that help you to collect, organize, and clean customer information.

AI will become an integral part of business operations in 2021 and beyond.

6. Millennials Are Ushering in a Remote Workforce

You hear all sorts of negative things about the millennial generation. Like they expect higher pay and fast promotions (without earning it). Or that they don't like to work.

One thing's for certain, they're bringing a major shift to how companies conduct business. We're seeing a significant rise in remote work, which consists of mainly millennial workers.

Pretty soon, Gen Z will follow suit, so be prepared to accommodate the demand.

7. Automation Tools Will Make Business Seamless to Run

Here we go again with the AI. See how this trend will take over business in 2021? 

Automation is all the rave even before the start of the new year. Companies are looking for ways to streamline their efforts so they can focus on other important matters.

Not only will automation tools free up their time, but it'll also help them to save money. Rather than spending hundreds of thousands on a full-time staff, you can pay a nominal monthly fee for a tool that can do the majority of the tasks.

Worst case, you'll need a freelancer or employee to manage the automation tool, and it does the rest.

This is why you see small businesses adopting marketing automation tools for email campaigns, social media and chatbots.

8. Selling to Consumers Using Mobile Apps

Remember how there are billions of people using smartphones around the world? Well, doesn't it make sense to sell to them using an app?

They're already downloading and using dozens of them. Now, you can make your own app users can download and use to shop and make purchases. Then you can send out notifications with personalized promotions and product recommendations.

This will help to boost engagement and revenue.

9. Personalized Customer Service Becomes a Priority

Users are looking for personalized marketing and communications with brands. You'll need a way to collect information about your audience (AI, anyone?) so you can use the data to do just that.

You can do this with a CRM that gathers intel from all touchpoints a customer has with your business. This includes phone calls, chatbot conversations, emails and online chats with your reps.

10. It's All About the Customer Experience

Did you know companies will earn an additional $700 million within three years just by investing in customer experience?

If you want a piece of this revenue share, then you'll need to start planning for improving your interactions with customers.

A great customer experience revolves around several factors:

• Convenience
• Personalization
• Accessibility
• Speed
• Communication
• Support

If you can improve each of these areas, then your odds of creating a happy customer base increases.

Be Picky About the Trends Your Business Rides

Just because there's a business trend doesn't mean you have to jump aboard with your eyes closed. You want to do your due diligence to ensure the trend makes sense for your small business.

If not, then you're wasting time, money and effort on something that may not work out.

So do your research to see which of these trends will help move your business forward in 2021!