5 Latest Business Trends and Predictions for 2019
As the end of 2018 draws near, it is time to reflect on the trends as they have been. These trends are poised to continue in 2019. Similar to the way 2018 synced with the previous year trends, the current trends may stretch to the year 2019. This year’s trends are a mixer of continuation of some on-going ones and other unexpected developments.
So, where are we currently? zuuonline.sg keeps in touch to inform you about the major progressions on business radars. Here are the five trends to consider to get ready for better business in 2019.
Advertising and Marketing
Marketing is getting more personal, and the trend will continue in the coming year. Those cold calls to action and other generic campaigns will no longer convince customers. You will need to offer personalized and high-value content to succeed. This trend is a safe bet as speaking directly to your customers generally delivers positive results.
Use of Marketing Tools that Support Personalization
Email personalization is a tool many marketers are using today to leverage personalized communication. It makes a customer feel like an email was custom-made for him or her. It is a significant milestone that continues to change the face of marketing.
According to Marketo, it boosts click-through-rate by 97% and open-rates by 26%. It derives success from the fact that you send the right information to the right person.
Use of Artificial Intelligence (AI) as a Critical Marketing Tool
The year 2018 might see the end of the experimental phase of AI. It’s also possible to see AI deployed in solving some marketing problems. For instance, some companies may use AI in lead generation and finding clients. AI has been successful in application areas like Google search whereby ‘personalized’ search has been possible.
Thus, top companies are embracing AI to enrich their operations. The usage of AI will be practically evident in areas that do not necessitate a human touch. For instance, marketers may look to use AI to understand the content a potential customer is consuming.
It’s advisable to align yourself with the new technology and remain competitive. Be vigilant and note more personalized marketing tools as they emerge.
More Competition in Social Advertising
Regarding paid social ads on Facebook, more competition will characterize the 2019 landscape. Many large companies have embraced Facebook and made it increase advertisers at a high pace. Nevertheless, small businesses have not fully adopted Facebook. The majority of them don’t advertise here.
Therefore, there is the expectation of more jumping on to the Facebook ad bandwagon. The number of advertisers will accelerate, and the cost of advertising will rise. To stay ahead of other advertisers, you need to up your social media game. There is a need to engage fans on social media in real time.
Some retailers have realized great results from these winning strategies. MarketingDive reported that Birchbox, a cosmetic brand engages its fans live. In 10 minutes, it received the attention of 50,000 viewers who participated. Such trends indicate that posting photos and updates won’t cut it anymore.
A Radical Change in Banking Models
Traditional banking models are fading away. The desire for people to bank whenever they want and wherever they wish makes digital banking to dominate. This development, in essence, makes your phone to become your wallet. Thus, your business strategies should focus on optimizing this latest trend and secure a competitive edge.
Speed is Paramount in Modern Banking
If the banking industry is your area, you will need to strive for speed. Users of bank services will want to access online services faster. Whether it is statement processing, banking services or lending. Elimination of intermediaries is an idea worth consideration to serve customers better.
Cyber attacks will be on the increase. The reason being, many internet devices are insecure, and tools are quick to find and use. Anyone can access the web and hack or use available malware codes or perform other affordable practices. The internet of things today can allow anyone with little skills to launch a sophisticated attack.
Thus, the cybersecurity threat is on the rise. As a reason, enterprises will start to invest in dedicated cybersecurity centers as a way to combat cyber risks. This direction is a definite shift from prevention to detection and response. Hybrid security offerings and Cloud solutions will be the dominant architecture. Many will equip themselves with such offerings including customers.
Technology and the Sharing Economy
There has been a rise in the sharing economy and digitization. These two will disrupt more industries. Some major industrial giants like Amazon, Uber, and Google experienced disruption as a result of shared-economy. Shared-economy is a non-dying trend, and according to Brookings, it is expected to grow to $335 billion by 2025.
Today, customers have gladly accepted this collaborative model. The recent success and growth of shared-business solutions demonstrate that shared-economy will ring true beyond 2018. Millennials are the key to success and the driving force behind this new economy.
For instance, you can consider the most prominent example, the uber. The millennials can now often travel while enjoying personalized and authentic services. Any industry should, therefore, strategize how to meet the need of the sharing economy.
The Modern Workplace Evolution
The workplace is going to get better with businesses changing the way they use space to drive productivity. The behaviour of employees will also change as they adapt to the new environment. New tech tools will be used, and employees can work with flexibility and away from the office.
Social behaviour at workplaces will improve with the adoption of policies that enhance anti-harassment behaviour. Technology also gives support to workplace evolvement by providing access to devices that communicate and update automatically. Powerful mobile devices fitted with wireless technology allow for just about any space to be useful in productivity.
The world is changing fast. It’s becoming difficult to differentiate yourself and scale in the ever-changing business world. For you to maintain trust, you need to plan ahead. Good strategic plans make you better equipped to manage those changes as they happen. Keep an eye on the above trends and adjust accordingly.