New Trends In Business World
Here are five business development trends every leader should be aware of because, well, things are always evolving – fast. While you don’t have to jump on every trend on the internet, it is important to keep your trends in business strategies up to date. Simply putting up a website or maintaining a social media calendar may not be enough to be a cut above the rest. You need to evaluate your current strategies and incorporate future business trends into your business. This can increase an organization’s digital footprint and boost its bottom line.
1. Videos and Podcasts
Marketing and branding are all about content—and it is moving beyond the written word. Content also involves visual medium like videos and audio media like podcasts and audio stories. Each day, people watch billions of YouTube videos and Facebook alone.
- Podcasts are becoming increasingly popular. Here are some stats from Podcast Insights:
- Podcast listeners are likely to be much more active on every social media channel
- Podcast listeners are more likely to follow companies and brands on social media
- Podcast listeners are more likely to subscribe to Netflix or Amazon Prime – which translates to them less likely to be exposed to TV advertising
There is a growing interest in podcasts among the urban Indian millennial. You can ride on this trend and create your own podcasts and videos by planning the content, choosing equipment to record the show, and publishing to iTunes, YouTube, Facebook, your website, and everywhere else you can.
2. Artificial Intelligence
Artificial intelligence (AI) is capable of gathering and interpreting large amounts of data—which you can use to your advantage. It can help you intricately understand the needs and preferences of your intended customer demographic. AI also helps emerging trends in businesses build better strategies. It can help you offer increasingly personalized experiences to customers by automating manual tasks and maximizing your time. In a nutshell, AI will help you take the tangle of data and analyze it in a way that allows you to make better-informed decisions on the actions you need to take. When it comes to improving your business, AI is your best friend.
3. Influencer Marketing
This is the hot new trend—influencer marketing. Instagram, Facebook, YouTube—you can find trending news in all these places. Why not make use of it and make your own business products/service trending? This type of marketing is not about bribing an influencer to post about your products/services on social media anymore. Instead, it is about partnering with well-placed people in ways that benefit you both. Consider partnering up with a person or organization that has influence over your potential customers. Ride on this trend to make the most of it. However, you need to do it strategically—it is an open secret that whatever is posted on Instagram and other social media is sponsored.
The office environment is rapidly changing, and more workers spend at least a portion of their work week telecommuting. Telecommuting helps your business cut costs from several different quarters—for example, most remote employees use their own computers and an internet connection, which can eliminate some of the company’s costs with purchasing and maintaining computers, printers, and mobile phones. Remote work is made possible by video conferencing, instant messaging and other advances in technology. In fact, some businesses are one hundred percent remote.
5. Customer Relationship Management Software (CRM)
CRM Software—or Customer Relationship Management Software—help your team manage, control and build customer relationships. It is essential for any business looking to make it big. It includes applications that help businesses build better and stronger relationships with their customers, engage and boost conversations, and improve revenue rates based on customer data. This data can come from multiple channels – phone calls, website impressions, social interactions, and so on. You can use CRM software to process and analyze customer information and make use of the data to create sales funnels and carry out campaigns. It allows you to categorize your priority customers and devote attention to prospective buyers.
Ourbusinessladder is a Business development consultant Firm in India, specializing in business advisory and market research. We have helped several startups gain ground and helped established businesses turn their game around. We are the one-stop business plan consultant for existing businesses and enterprising entrepreneurs. We aim to help people with business ideas and turn them into entrepreneurs. Contact us today!