Currently, millennials account for over 30% of the workforce and by 2020, they will comprise nearly half of all U.S. workers. Millennials are reinventing the world of work and for businesses to succeed, they need to be aware of how to efficiently target and work with them.
2) Online Marketing
Businesses not only need a website to share their products with the market, but they also need a a strong online presence that is highly traceable on all platforms. If consumers cannot find a specific business when searching the web, there’s no way for them to interact with the business, which ultimately sends them to competitors.
3) Cloud Services and Cybersecurity
In 2016, more businesses, especially small businesses, are moving towards adopting cloud computing services. These services are helping businesses reduce capital spending on high cost data centers, etc. in return for the industry’s new leader in reliable data storage. Along with this increase in cloud adoption will be the increase in cybersecurity to ensure data security and the prevention of data breaches.
4) Mobile Technology
With the rise in millennial consumers and employees, the use and need for a mobile experience is also increasing. Consumers are increasingly looking to their mobile devices to stay connected with media, work colleagues and favorite brands. To remain in the market, small businesses must embrace this mobility factor by ensuring ease and speed when catering to customers.
Social responsibility and collaboration are now components that small businesses must strongly focus on. Millennials want to be a part of and support organizations with a strong philosophy and even stronger values. People desire to see beyond monetary donations from organizations; they want to be able to participate in partnered organization events that will focus on improving the community’s, or even the world’s, well-being.