Every year commercial business trends change and shape what organisations will succeed in the new year and what ones will fail. Keeping up to date with business trends and what the public is after at the moment can help ensure a good start to 2020 financially. Here we have listed things that will be most important to businesses and consumers in 2020.
Personalised Customer Service
According to Gartner, in 2020 smart personalisation machines used to recognise customer intent will enable digital corporations to increase profit by 15%. There are too many options and too much colourful advertising to simply offer customers everything that you do. The modern customer will naturally go to the business which offers them the best tailored service and gives them exactly what they want.
Customer Experience is Still Very Human Focused
Augmented Reality is being increasingly used in the business world to make things faster and more efficient. However AI should not be viewed as something that will replace a human worker, rather it should be seen as an assistance or co-worker to improve processes.
A business needs to be tactful and smart with their implementation of AI. Overuse of AI in situations where it is inappropriate will only turn customers away, where if human contact had been made it could have made a sale.
User reviews are become increasingly more important in the game of influencing online. It makes people feel more comfortable buying something if it has been tried by others with a positive outcome. It has become one of the key things a modern consumer will look at before dealing with a business.
Small businesses with smaller marketing budgets need to focus on user reviews even further to make their brand appear trustworthy. If real people are providing you with real reviews, especially positive ones this makes you immediately appear more attractive to the online consumer.
‘Stories’ Are The Future
Stories were originated by Snapchat and have now become a default social media feature due to its huge success. The short videos disappear after 24 hours and are focused to be more in the moment content. Along with live streaming stories will become a primary method for brands to reach their digital audience.
Technology has made remote working easier than ever before, allowing for small businesses to take advantage of this cheaper way to have more employees. Remote working is a fast emerging small business trend, allowing corporations to hire the best talent from across the globe.
The Gig Economy
Gig workers are known as those who are hired for one particular job and can work for as many different companies as they like. A lot of people like the freedom of being their own boss. Many smaller businesses are unable to hire employees permanently especially if they need an expert for the job. Seeing the gig economy boom means small businesses have the opportunity to work with expert freelancers without having to pay them a full time wage.
Prioritizing Employee Happiness
Employee happiness is becoming an increasingly important part of a job, as it is obvious that employees will be most productive if they are happy at their job. The modern workplace focuses on employee happiness to attract the best talent and keep their workers satisfied and enjoying coming to work everyday.
Importance of Voice
Smart speakers have gained vast popularity over the globe since their introduction and the number of voice google searches are increasing due to this. Businesses need to keep up to date and consider making their web content voice optimised to help build an online presence and stand out from competitors.
Big data that offers clear actionable insights is hugely effective in helping businesses focus and work in the right direction. Easy use analytics applications are becoming more common which makes data contextualisation easier. However privacy laws need to be respected when collecting data, as we have large corperations suffering publicly this year after misuse of data.
5G networks are going to be launched across the globe in 2020 and will open avenues like never before. 5G is set to offer faster than ever before download speeds, which will dramatically alter the way we interact with the internet. Interactions will be faster and offer businesses to communicate better and get things done faster.
credited sources: https://www.freshworks.com/freshcaller-cloud-pbx/small-business-phone-system/small-business-trends-2020-blog/