Gear up for the coming year with the right business growth strategies. The global wellness market is estimated to have reached $4.75 trillion during Q3 of 2019 and it’s anticipated that demand for products and services from and by practitioners will continue to increase in 2020.1
Particularly, workplace wellness has become an increasing focus for organisations around the world which presents practitioners with an array of entry points to grow and scale the business. According to data from Wellness Creative Co., approximately 75% of large businesses and 33% of small companies run wellness programs to add value to the employee experience.1
To stay in the game, small enterprises need to have foresight on the market’s behaviour in 2020 to design a strategy that answers the client’s specific needs.
Here are 4 small business trends that are relevant to practitioners:
1. Personalized client experiences are a must.
Client experiences begin from the moment of discovery (e.g. finding your website through search) until the completion of service.
To provide a more personal experience for clients, practitioners have to be able to cut through the noise – meaning, upon discovery, instead of presenting your whole array of products/services, immediately offer what they came to you for. The right time to upsell your other offers is when you’ve captured genuine interest and the likelihood of a positive response is higher.
Creating personalized experiences should also include your ad buying strategies whereby you have to identify different types of visitors to your website and program your ads to show the services they’ve checked from your online channels. This is opposed to bombarding website visitors with every ad variation which is a waste of budget.
Hire a consultant to help you if you can.
2. Focus on testimonials and reviews
92% of consumers hesitate to make a purchase if there are no customer reviews and 97% say customer reviews factor into their buying decisions. This spills over to the health and wellness audience demographic.
2020 will highlight the importance of bridging the gap between business and consumer with reviews and testimonials. Since small businesses have smaller marketing budgets, it becomes all the more important for your practice to focus on client testimonials. If your business is being vetted by real people online, it makes you more trustworthy and results in increased sales that virtually costs nothing.
3. Voice Searches On the Rise
Software such as Siri and Alexa makes it convenient for Internet users to do research simply by speaking. That means your practice’s content (e.g. blogs and e-books) needs to “voice optimize” its sentences and adapt to the way people speak and ask voice questions.
This upcoming trend does not imply that written content should take a backseat. Blogs and e-books will still be valuable especially for deep-dive product information. As it stands, the main drawback for voice search results is that the virtual voice assistants have a tendency to pull up surface-level results unless the researcher asks the correct question.
4. Long-form video and audio content will be the preferred media
According to 2019 data, U.S. adults spend around 6 hours per day watching videos. That includes viewing on TV, mobile devices, social media, and the web. Preference for video and podcasts have soared this year despite news of shorter attention spans.
Viewers want niche information to absorb or engage with which opens a vast window of possibilities for your practice’s content strategy. Weekly blogs dedicated to a theme or topic (e.g. Meal Preparation Tips for A Healthier Gut Biome) builds a highly engaged community who will get excited with every new upload if you stay consistent.
15-minute podcasts which your audience can listen to while driving to work is also a hard-working content marketing strategy that’s as effective as videos.
Over time, your audience will tell you if they think your episodes are too short or too long. Ask for feedback monthly during the beginning and adjust as content length as needed.
If you have a different perspective or would like to add to these small business trends in 2020, tell us in the comments below.
There will surely be other emerging trends as 2019 comes to a close and we will keep you updated on these important topics in the coming weeks and months. Subscribe to our weekly newsletter to get the latest business development blogs from TheraSmart.