5 small business trends you should be prepared for in 2020

The Internet has turned local markets into global ones. Globalization and eCommerce have made competition harder but, at the same time, opened broader and newer markets for everyone. Now even small retailers can reach customers on the other side of the globe, but must also contend with rivals spread across continents. Hence, it is critical that you keep your finger on the pulse of changes happening around you.

I recently put together a list of some critical trends that EVERY small company must invest in. Now depending on your particular industry and business, you can decide how much investment you want to expand on each of them – but one thing is certain; you can't ignore any of them.

1. Personalized Customer service: Customers have come to expect and demand faster services and tailored solutions. They expect more than just a straightforward buy and sell arrangement, they want to know the business and be a part of its journey. They want to feel a connection. To create this intimacy, many businesses will have to implement some sort of solution that shows special love to their customers. This could either be excellent in-store customer service, focused ad campaigns, or hyper-personalized products – depending on your industry, you will have to come up with innovative ways to connect meaningfully with your target audience.

2. New digital media: Digital marketing has become more competitive in the last year or two. The field is getting increasingly crowded, and budgets must expand to get results. Also, 2020 sees some drastic changes - voice search is growing by leaps and bounds and is all set to be the next big disruptor; content marketing, albeit with video as big part of it, is going to take the lead in maintaining online brand reputations and organic traffic is losing steam. There are too many people putting out great social media content, you have to put in the money to get traction in the market.

In short, find new channels or put in more money.

3. Online reviews become even more critical: For many small businesses, especially the ones in retail, food, or entertainment industries, online reviews are now even more important than before. To make a 100% positive customer experience, in reality, you have to invest in online reputation management. Just like social media – trying to get organic reviews is an uphill task. You have to reach out proactively to customers, be exceptionally responsive and hire professionals to manage your online reputation.

4. Sustainability: The need of the hour is sustainability! It is critical for ALL businesses  - regardless of size and industry – to go green. It is vital to the environment, and the customers demand it. There is a huge uptick in clients inquiring about the sustainability credentials of businesses, and they are now willing to pay extra and change brands to help the earth.

5. Cybersecurity: While small businesses - especially the ones with a location or store - are usually more worried about their physical security, but now it is time all of us start thinking about cybersecurity too. It is reported that 43% of cyber-attacks are focused on small businesses, and no industry is off limits! You are not too small or too offline to escape, and it is imperative to put some safeguards into place.

Now, clearly, the only thing stopping business owners from keeping up with these trends is MONEY. Here I suggest you follow my example! I wanted to implement measures to keep up with my industry trends and approached New York-based alternative lender – Cresthill Capital for a financing offer! It turned out to be a sound decision! I have no Cresthill Capital complaints and recommend you try out alternative lending institutions too.

Top 3 Services That You Can Outsource With The Help Of A Cash Advance

Most business owners would agree that running a small business is simply time-consuming. Managing inventory, production, serving customers, marketing, and dealing with staff are just some of the things that need constant attention. Where is the time to do anything else?

However, you could be using your expertise and mind space to think of new expansion plans, but that won't ever end up happening unless you take the time to think and experiment.

The answer to this dilemma is simple – outsource your work to experts with the help of fast, easy, and flexible cash advances from alternative financing companies like Cresthill Capital. So, here’s a list of some affordable business services that you can outsource to grow without compromising on quality:-

1. Customer support - While at the start of your business, dealing with customer calls in-house would have been manageable, with a growing business it can become more and more difficult for you and your staff to answer phone calls for several hours a day.

Here, applying for a quick cash advance for outsourcing to a call center with experienced staff is a great idea. Not only you get a trained professional handling your calls, but you also access the latest cloud-based call center software.

2. Marketing - There is little doubt that marketing is a specialized job. A quick look at the plethora of digital and social advertising options will be enough to convince even the most DIY business owner that hiring a professional agency or even a freelancer will get them better ROI on their advertising budget.

According to recent Cresthill Capital Reviews, while you might be able to manage social media posts and engagement in-house, utilizing a flexible cash advance for hiring a marketing agency will give you access to a professional team, strategic ideation, and the option of accessing add-on services.

3. IT - With new digital innovations bursting on to the business landscape with increasing regularity, it is not possible for you as a business owner to single-handedly find and leverage the best tools for your business. But thankfully, with several competitive IT service providers, you won't have to.

The only time and effort you have to spend on are applying for funds through an alt-finance company like Cresthill Capital and then hiring the right digital partner with that money. After that, it is their job to manage your existing business IT infrastructure and advise you.

So, if you feel that your business can profit from any (or all) of the services mentioned above, then don't waste time. Apply for a merchant cash advance now! As you know cost benefits will take some time to trickle in, Alt-funding can help with these increased costs.

Also, if you go through Cresthill Capital Reviews, you’ll find out that it is a company that is committed to helping small businesses grow by giving them access to timely, flexible, and fair business financing.

So, do get in touch and start expanding your business today.