We’ve spent the last two years on a long and winding road together. In 2020, we asked each other, “What if…?” about everything from grocery shopping to digital marketing. Fast forward to now, and SMBs are up and running and then some. Yes, we’re still dealing with the impacts of Covid, but we also have more momentum than we thought possible going into this year.
Acceleration
In March 2020, one of our most popular buzzwords was “pivot.” We quickly realized, however, that we weren’t pivoting – we were actually accelerating. In a matter of weeks and months, we went from 0 to 100, with no intention of ever reversing. There are more payment gateway companies than ever, our websites are prioritizing e-commerce and user experience, and we’ve developed an abundance of products that were once years down the pipeline (if at all). And that’s barely the beginning.
In the latest edition of Localogy’s Modern Commerce Monitor report, we found that nearly 75% of SMBs are using mobile apps to help manage their business – a 45% increase from last year. The reasons? While the need to save time and work more efficiently remains paramount, features and ease of use are a growing point of consideration in adopting or shifting online services.
Within this unprecedented acceleration, there have been important micro-shifts that should change the way we support SMBs… if you’ve been listening.
Innovation as a Service
For those that have had their ears and eyes open over the last 2 years, it has been a challenging but incredible time of growth and innovation. So many of our members and partners got their heads out of their long-curated product pipelines, blew them up and started anew, bringing new programs, platforms, and initiatives to life in record time. They also up-leveled their customer service as new users came on board, and existing users needed more support than ever.
One such organization that immediately comes to mind is Yelp which introduced features like Custom Location Targeting for SMBs to really hone in on their local audience. Another notable example is Yext Answers which is redefining in-website search making it easier than ever for SMBs to serve customers with the information they need.
Among those ramping up for an even more exciting 2022 are Duda, Scorpion, and GoSite who all secured major funding rounds. And of course, Facebook rebranded to Meta, officially ushering in the era of the metaverse.
If that’s what our scrappiness and resilience can accomplish during an unprecedented global crisis, I personally can’t wait to see what happens next.
What’s to Come
Finally, we’re standing at the mouth of the tunnel and stepping into the light with so much ahead of us. Retailers are hiring (with a capital H) and consumers are out and about, representing our first, big step toward getting back to “normal.” Agencies, franchises, enterprises, and more are looking at the end of 2021 as the beginning of a more stable 2022 – a year we can forecast against, unlike the last two. 2022 won’t be without its challenges, but after the last two years, they feel almost minimal (knock on wood).
Our biggest conundrum will be redefining what work means. The great resignation spans from Boomers to Gen Z and the gig economy is experiencing a previously unfathomable boom.
What permanent solutions and benefits can we offer entrepreneurs, hybrid and remote teams?
What are our expectations for the changing workforce?
Though we may not have definitive answers right now, we do know where to start: with people. I am reminded of a conversation with SOCI CEO, Afif Khoury at Localogy 2021 when he said the focus is now on finding the right person – wherever they are.
In fact, everything is focused on people right now, and I know I’m not the only one who thinks so. With more geographical freedom, the oversaturated Silicon Valley has dispersed to new places like Austin and Salt Lake City. Products are being created or refreshed to truly serve the SMBs of today and those who run them. SMBs are also focused on meeting consumers where they are, prioritizing mobile and local first, and upping social spend.
The past two years have brought new meaning to this season of hope, and there’s no limit to the potential of 2022. Enjoy the New Year, enjoy your family, and we look forward to seeing you in LA on April 25th at Localogy 2022.
