Small Business Trends to Prepare You For 2017
No small business owner can be effective if they are not up to date on current trends. Missing out on or simply ignoring emerging trends can leave an organization stagnant. Most trends, however, are not difficult to come to grips with if they are known.
All of the following are 2016 trends that you likely missed out on but must prepare for ahead of 2017.
Mobile Apps Are Bursting Through
Large corporations have long been on the app bandwagon. Local companies, however, have been nervous about making the leap. Considering the fact that many business owners felt they had little to offer in the way of an app, this was no real shock.
New studies, though, have shown that half of small business owners will have their own app by 2017. While this still does not mean an app is important for your organization, it may be time to start brainstorming ideas.
EMV Payments Become the Standard
EMV payments have been the talk of every industry since 2015. You have likely seen these types of payments with terminals that require debit cards with chips to be inserted.
While only 25 percent of debit cards were designed with this chip by February 2016, this number will continue to rise.
By 2017, customers will consider EMV the industry standard, and they will feel as if retailers who don't accept these payments are putting their financial information at stake. Implement this adaptation and then use it as a marketing point.
Generation Y is on the Scene
For years, businesses have concentrated on Millennials due to the huge increase in the demographic. Those individuals, though, are not the youngest group you must cater to.
Individuals in Generation Y are currently entering their 20s, so company owners must begin to focus on this cohort. Not altering marketing to bring in these new adults could hurt your company in 2017.
Changes will never be easy in the business world, but if your company has any hope of surviving, they have to take place. By keeping up with emerging trends, particularly those that will affect 2017, you can stay on the forefront of marketing.