4 Small Business Trends to Watch Out for in 2023
What’s most likely to change the way you run your business in 2023? Will it be a piece of new technology that transforms a slow, resource heavy task? Or will it be a new approach to work itself, ditching the 9-5 in favor of something more flexible? For small businesses, understanding the factors that have the potential to reshape the way they operate can be vital. That’s why we’ve put together a list of 4 trends we think all small businesses should be watching out for in 2023:
1. The evolution of hybrid working in Ireland
We have come a long way to have a flexible approach to working has become the norm for many. More small businesses than ever are now offering a hybrid approach to office and home working, allowing their staff to choose a combination that works for them. What does this mean for small businesses in Ireland in 2023?
Whilst those who are self-employed in a small business and in professional services may have the luxury of being completely flexible in when and where they work, there’s an overwhelming argument for providing the technology that enables a hybrid approach. Most significantly, the shift towards more flexible ways of working has fast become a key part of job satisfaction. Employees increasingly expect to be given the kind of connectivity and digital technology that empowers them to work from home, on the go, or in the office. This trend is seen in younger members of the workforce, Millennials and Gen Zs.
As a small business owner, you can embrace this and offer your employees this option. According to Silicon Republic “Irish millennial and Gen Z employees are more willing than ever to leave their current roles and seek new opportunities, according to a Deloitte survey of young workers. “Keep up with trends and offer incentives to make your employees want to stay.
For small businesses, it’s clear that to keep attracting talented employees and ensure future growth, providing the tools and technology that enable hybrid working will be absolutely essential in 2023 and beyond.
2. Transforming online experiences with AR & VR technology
Virtual and augmented reality are not modern technologies at this point. They have been floating around in various forms for several years, this is not new. However, Facebook has changed their name to Meta and launched the Metaverse, an online social world that offers brand new ways of connecting, communicating & collaborating, all through the power of VR, AR and smart technology.
How will this impact small businesses in the professional services?
Whilst the immediate impact might be small, the fact that one of the biggest social media platforms in the world is moving into this space means that millions of consumers will become exposed to a whole range of immersive applications and experiences. Whilst ‘building’ the metaverse is currently the realm of larger enterprises, Meta is already highlighting the opportunities for businesses of all shapes and sizes to benefit from this technology. Not only will a technology like AR help consumers interact immersively with products in online marketplaces, but there’s also scope for businesses to develop their relationships with customers, delivering unique VR experiences. Even though the Metaverse is still in development, it’s clear that small businesses should expect VR and AR to become a part of their digital roadmap in 2023.
3. Keeping up with Small Business Trends in Digital Marketing Strategies
Whether you are business consultant, business coach, a Solicitor or self -employed for a small business you got to get your brand out there. Digital marketing is becoming increasingly diverse, with every platform and social media site offering self-serve advertising. On top of this, the more traditional forms of digital marketing through channels like Google are becoming more complex, driven by features like voice search, rich results and mobile first design. With a huge number of options and possibilities available, understanding where to invest your digital marketing budget in 2023 will be crucial. Virgin Media Business Broadband and Mobile will help you just do that.
Spend some time exploring what different online platforms can offer your business. A Business Consultant may look to drive brand awareness through the power of social media such as Instagram’s new shopping features a helpful way to access new customers, whilst businesses targeting a particular niche might benefit from exploring the advanced interest and demographic targeting on platforms like Spotify or Reddit. It’s also important to recognise that audiences will be interacting with your marketing in more diverse ways too; making media ike video, audio and gifs, hello Tik-Tok all should be part of your business’ marketing strategy in 2023 will undoubtedly help increase your reach.
Don’t be afraid to try something new - but don’t forget to measure the results with the power of Google Analytics.
4. Greater focus on mental health and wellbeing
One of the biggest changes as a result of the pandemic is an increased awareness of how mental health can impact our working lives. This can be a particularly acute issue for small businesses, where the pressure to keep everything running with a tiny team, or even on your own, can feel overwhelming. It’s clear that improving mental wellbeing at work has become vitally important, and methods for tackling it successfully will be a key issue for businesses in 2023.
For small businesses, developing better awareness of the factors that can contribute to excess stress in the workplace is a good first step, but proactively managing and reducing this where possible is the goal. Key to this is open communication: Ask your team how they’re feeling, what’s worrying them and what can be done to reduce their stress levels. This is just as important if you’re running a business; take the time to check in with yourself and assess how you’re feeling mentally. Be sure to put breaks in your Outlook Office Calendar to remind yourself and employees to take breaks.
Another simple but powerful step is to encourage healthy working habits, like taking regular breaks, setting manageable deadlines and stopping answering emails late at night. Encourage employees to go hiking, go for walks, use Apps like Strava to do group Charity walks, runs or hikes to measure and share your achievement.
We hope you enjoyed this article on keeping up with smart digital trends for small businesses and best practices for 2023.
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