By Sam Males
Every New Year ushers in new ideas, new resolutions and new trends. Paying attention to the emerging ideas can be key for business success. Staying on top of predicted trends and shifts can help small business owners stay ahead and take advantage of opportunities to grow.
For 2019, here are some national and local trends we at the Nevada Small Business Development Center see having an impact for small businesses.
Keeping up with national trends is vital for knowing what to look for in the business world and identifying opportunities for business growth. This year, there are some major trends revolving around digital media and marketing.
Personalized marketing strategy: When it comes to marketing a small business, there are many ways to specify who you are targeting. As time moves along, the personalization of marketing strategies is rapidly increasing. In 2019, personalizing online ads to the right audience will be even more crucial to small business success.
Consumers today see advertisements everywhere they go, whether they are scrolling online or walking outside. Standing out to your target audience online is crucial for success. Using emerging digital solutions that facilitate ad targeting or simply revamping a content strategy to be more authentic and engaging can really make an impact for small businesses.
Online reviews: Online reviews are a key component in any business’s online presence. Customer reviews are influencing consumer purchases more and more each year. In 2019, roughly 90 percent of consumers will read online reviews before choosing a new business to visit. Knowing this, small business owners who take action and have current customers leave reviews may gain a sales edge. To entice current customers to leave reviews, small business owners can consider offering a free small item or discount for leaving a review online.
Video advertisements on the rise: When it comes to online advertising, video advertising is one of the best ways to showcase a company. Video provides a more compelling type of content (compared to basic text or photo ads) where consumers can visually see who you are, what you do and what your product or service provides.
According to the Brand Network’s webinar, in 2018 65 percent of ad impressions on Instagram were the result of a video ad. Compared to 9 percent in 2015, this suggests that video ads are working for businesses and use of video ads is likely to continue to grow. Small businesses who create compelling video content will be able to engage with consumers in a meaningful way.
Read the rest of the article at rgj.com.
Sam Males is the state director of the Nevada Small Business Development Center housed in The College of Business at the University of Nevada, Reno.