North American Bancard Blog

Business Trends to Watch For in 2016

Posted by Ashley Littles on

small businessWith fourth quarter in full swing and 2016 on the horizon, it’s a great time to consider your business’s future operational goals. Whether you’re on target or needing to re-strategize, these 2016 Small Business Trends can be a perfect launch pad for an operations makeover:

Discover a Specific or Unique Edge:

Research shows that consumers decide where to spend their money based on a number of factors. These three factors, brand recognition, price and convenience are in the top five for purchase motivators. Making adjustments in these categories can yield promising results for your small business. Discovering a unique edge can come down to surveying your customer base about improvements or enhancements they wish to see, especially at the end of a year or quarter.

Easy Ways to Pay/Return:

What’s worse than point-of-sale frustration? Don’t complicate the point-of-sale transaction with extra wait time and slow payment processing. Make transactions simple and convenient with mobile payment processing software like Phone Swipe. Our customizable solution provides merchants with low fees and live support.

Low-Cost Startups:

Are you thinking of becoming an entrepreneur? Consider these low-cost startup options that provide ideal flexibility and creativity: Home-based food or compost services, up-cycling goods or an even a personal errand service.

If you can identify a need in the marketplace, great research and hard work can turn that need into a niche that you can fill.

Digital Master Class:

As a business leader or industry expert, you can monetize your skillset by hosting webinar classes or tutorials for a fee. Webinar hosts maintain creative control, set the cost of attendance and have ultimate flexibility. Does your business already have a thriving email distribution list? If so, you are already ahead of your competition!

The Content Marketing Institute reports that approximately 77% of B2C businesses use content marketing , including webinars, as a part of their strategy. This growing trend of engagement through digital classes and tutorials is expected to reach more than a billion dollars in profit next year.

Transition your business into its next profitable season. These small business trends are expected to lead business strategy in 2016, seize your next opportunity by adopting the one that works best for your company.

Topics: Business

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