Growth is not only a sign of a business’s success, it’s also the key to its security and long-term survival. Businesses should preach competitiveness and relevance in order to grow. If you’re not growing with the time and all the respective factors, you are giving reason to your consumers to choose your competition over you and your products.
Latest technologies, changing customer demands, and social shifts are rapidly changing the business world. These factors have opened the way for freestanding companies, niche, market, evolving industries, and closely-knit global teams. However, to reap these benefits, you must keep yourself up-to-date on emerging business trends.
Social media marketing is a must:
If your brand isn’t active on social media, you miss the hottest place for reaching your customers in today’s scenario. One speculation to consider is hiring a social media influencer to bring their ready-made audience to your brand. If you’re not familiar with the idea, think of an influencer as a celebrity product endorsement. Thousands follow social media influencers, sometimes millions of people, on these digital channels. Get the attention (or pay for the alert) of these social media celebrities. They will bring your company to their followers’ attention—and sales usually follow as a result.
User reviews will matter:
If you’re not paying attention to your social media user reviews, your business is already lacking. 85% of the consumers’ research before buying, and they are highly informed about the products and services you sell and their quality.
According to Conversion Science’s research, over 80% of people said that positive reviews would encourage them to purchase a product. The same number of people changed their minds about purchasing after reading as little as one or two negative reviews.
The Freelance Gig Economy Will Grow:
Many successful entrepreneurs and CEOs started their businesses as a side hustle along with their full-time jobs. This allows you to get your business going without losing your current source of income.
Many professionals are starting their side hustles to support their income or convert their hobbies into a monetized hobby.
For example, everyday side hustles include driving for Uber, selling homemade art, and tutoring or cooking services.
Remote Work Will Become the New Boon:
Initially, business owners and managers believed that if their employees weren’t working from their office, they weren’t productive. But covid-19 proved that businesses could run smoothly while working from remote areas.
A considerable percentage of the workers prefer to work from home and do several freelance jobs simultaneously.
It has become a popular and fashionable workplace trend. It will soon become the rule for many entrepreneurs, exceptionally for those who are just setting up their businesses. Young entrepreneurs will more likely hire remote workers to match digital footprints.
As mobile phones get more computational powers, many consumers choose to shop through their mobile devices. Businesses are getting a more streamlined mobile commerce process.
According to eMarketer, mobile sales account for more than 75% of online shopping; mobile revenue mobile is expected to grow to $2.595 trillion in 2021, compared to $909.93 billion in 2017
It is similar to e-commerce, however accessible via mobile phone. It is now possible through mobile-optimized websites, apps as well as social media platforms.
It is similar to online banking. However, you may access some transaction types that are limited or restricted on mobile devices. It usually involves dedicated apps such as Paytm, g-pay, etc.
Some banks have also started experimenting with chatbots and messaging apps to make things convenient for people.
There are so many different mobile payment options through which one can pay with just a click.
Contactless delivery is a new demand:
COVID-19 has brought on the acceleration of several already existing trends, particularly those that involve the virtual space or the ever-growing eCommerce industry. Consumers are currently focusing on how brands can help improve the quality of their lives as they spend more of their time at home, and that pertains to everything from entertainment and health to convenience.
Companies are increasingly offering contactless delivery options that reduce the risk of virus transmission. This service limits the contact between people during transactions.
Growing Importance of Social Responsibility:
Corporate social responsibility (CSR) efforts have gone beyond charity and donations. It has become a major part of the corporate strategy. Companies have CSR teams that formulate specific policies, processes, and goals for their CSR programs and set a budget to support them.
These are just trending public relations stunts. Many companies have CSR departments to keep up appearances.
Follow these 2021 business trends to get sky-rocketing results!