January is a good time to review what went well for your business last year, and to think about what you want to achieve in the coming year.
Just in case you haven’t quite finalised your 2018 resolutions, here are 5 suggestions.
1. I will get closer to my customers
What do your customers really want? And, are you exceeding their expectations? It’s so easy to overlook the obvious and assume everything is rosy, especially when you are busy.
But, if you don’t listen to your customers and understand what they value, you risk missing an opportunity to delight them (and win more business) with products and service they really want.
Here are a few ideas:
- Get social – social media can be a powerful way to connect with customers. At the very least, use your customers’ favourite media (Facebook, Instagram, Twitter, LinkedIn etc.) for a bit of “social listening”.
- Start conversations – get engaged, contribute to conversations and forums, become known as an expert.
- Surveys – it’s never been easier to create a customer survey using tools like Survey Monkey. Ask your customers directly what they think.
2. I will get mobile
The smartphone is now the most important device for accessing the internet (according to OfCom).
It’s no surprise, then, that ecommerce is increasingly mobile. According to recent PayPal research, 4 in 10 shoppers (and 6 out of 10 16-44 year-olds) browse daily on their smartphone.
The biggest frustration for smartphone shoppers is websites that don’t work well on mobile devices … yet most small business sites (and their payment processes) are still not designed for mobile traffic.
2018 is the year to get ahead of your sleepier competitors and update your site to make it easy for mobile shoppers. Check out our help for mobile shopping
here.
3. I will get secure
With the Christmas rush over, take time to re-assess your cyber-security. Think about the following:
- Do you back up your data regularly? And, when did you last practise restoring a backup?
- Have you protected your business against malware? Is your anti-virus software up to date?
- Is your smartphone secure? Do you use PIN or fingerprint locking?
- Do you use passwords to protect sensitive information?
- Are you doing enough to avoid phishing attacks? Have you trained your staff?
And, don’t forget to check that the payment methods you offer (online and in person) are recognisably secure to support your shoppers.
4. I will get ahead of GDPR
Don’t stick your head in the sand!
The General Data Protection Regulation (GDPR) comes into force on 25th May, 2018. It is designed to improve the rights of EU citizens over the use of their data and it applies to any organisations that hold “personal data”, including smaller businesses or charities.
The Information Commissioner’s Office provides a useful set of Frequently Asked Questions for small organisations,
here.
5. I will get ready for digital money
2017 was the year we all took contactless payments for granted. Now, we’re surprised and frustrated when a shop or café doesn’t take contactless.
Online too, customers are looking for security and convenience. In recent research, we found that one third of online shoppers now prefer to pay using a digital wallet like PayPal. Two thirds of shoppers will only shop on sites that use a recognised payment brand.
The way that people shop and pay is changing, yet two thirds of small businesses don’t see a need to change the payment methods they offer.
Resolve to review the payment methods you offer – both online and in-store – to ensure your business keeps pace with customers’ expectations.
If you accept payments in person, is your POS contactless? Can you accept Apple Pay or Android Pay. Perhaps check out
PayPal Here, which offers all this and more.
If you sell online, can you accept payments securely and simply, even for mobile shoppers? In foreign currencies, too? Check out PayPal’s latest features for
online payment.
The year ahead
In business, quieter periods are a luxury. Make the most of January with some plans for the coming year. And, stay tuned to PayPal Stories throughout the year for more tips and inspiration.
Wishing you a prosperous and successful 2018, from everyone at PayPal.