The start of a new year is here, and with that comes immense potential for growth and change. Whether it’s how you market your business or how to operate your workplace, there’s always a chance to revamp or rethink your strategies as time passes. Here are 5 business trends that are predicted to thrive in 2019 that you should definitely consider for your business!
1. Omnichannel Experience
As retail stores are growing to know too well, it is no longer enough to offer your product through just one channel. With weekly news of brick-and-mortar store chains shutting down because of lack of traffic, businesses have to figure out a way to stay afloat. The best option is coordinating to offer your product through multiple channels. This strategy is known as “omnichannel,” as all of your channels are working in tandem. If you own a franchise, instead of having a separate online store that operates and sells different products from your physical stores, make sure that all of your channels are on the same page in terms of product, services, and values.
2. Customer Service
Customer service has always been a fundamental component of a business, but it has grown even more important these past few years. With countless businesses and innumerable ways to search for them online, it is now paramount that businesses figure out how to stand out. The answer? The quality of your customer service. People can now find and buy whatever they want easily– what will draw them to your brand is how well you treat them. Having personable service along with various product shipping options will go a long way in 2019 for growing your business. Over everything, you want to make sure that your customers are receiving the best possible experience with your brand over everyone else’s.
3. Personalized Marketing
Because customer priorities are changing to become more value-based, businesses must adjust their marketing strategies accordingly. Social media marketing has become king instead of traditional print or television advertising. However, widespread social media advertisements may not be the best bet. Major brand or influencer campaigns are no longer seen as customer-oriented in today’s marketing. Instead, “micro-influencers” are seen as the best option to engage customers with. This is because customers are realizing that they cannot relate to celebrities or brand names – they rely on peer reviews. This is perfect for small businesses, as sponsoring hometown heroes or other local influencers to connect to customers will cost less as a marketing strategy than investing in a major influencer. Furthermore, more personalized campaigns (such as personal product recommendations in e-mail marketing) will reach customers more easily than random social media advertisements.
4. Cyber Security is a Top Priority
Businesses have been storing transactions, funding, and other data online for years now. Unfortunately, this also means that there has been an increase in data hackings over time. Despite this issue, many small businesses do not invest in cybersecurity. It is important for businesses to begin to invest in this important defensive measure in order to protect not only both company and customer data. Invest in AI such as machine learning tools, as they can predict and identify hacks, and be sure to test your current security. This way there won’t be a potentially disastrous loss of privacy and data for your business.
5. Flexible Workplaces
More and more businesses are utilizing remote working, or as most people know it, working from home. This saves money, as businesses do not need to rent giant spaces for their workforce or make up time for absences. This also allows businesses to optimize the availability and use of their equipment for those who will be present to utilize it. Working from home can generate more productivity as employees would not be wasting time commuting, and because they will be more comfortable in their own space. As long as employers give clear deadlines and regular check-ins, remote working has shown to be beneficial to businesses. In 2019, the physical workspace will be changing drastically because of remote working along with hot desking, where desks are not assigned, but given on a first-come-first-serve basis to those that are present at the office that day. With both concepts becoming more and more commonplace, the message is clear: workplaces are becoming more flexible.
Business Funding with Lendr
These 2019 business trends will help you revitalize your business and keep it ahead of the curve! Another option to consider with the new year is financing your business. Lendr offers business financing that will optimize your revenue and streamline your operations. At Lendr, we make funding a simple and easy process for you and your business, ensuring that you waste no time or stress over it. Don’t hesitate to contact us to get started with Lendr today!