The world has dramatically changed. Technology has transformed the way we live, work, and do business. Entrepreneurs who want to stay ahead of the game must keep abreast with the latest trends. This article presents some of the most powerful business trends for 2017 that will help you establish an unshakable brand.
Millennials Will Occupy Top Positions
Baby boomers are heading out of the business world to enjoy the luxury of retirement. This leaves several high level positions open for young business professionals. This could be a big plus for your company. A millennial’s fresh ideas and drive for innovation and success can take your company to heights you never imagined. On the flip side, it could result in disaster if these young powerhouses aren’t adequately trained. Groom your young staff well to take on leadership roles. The immeasurable benefits you’ll reap will make the investment worthwhile.
Subject Matter Experts (SMEs) Become the New Sales Reps
Entrepreneurs have grown to appreciate the value of paying more for subject matter experts. The knowledge these people provide make it easier to convince customers to purchase products. It also helps make business processes more efficient.
Crowdfunding is the Angel Investor
In 2016, we begun to see less dependency on venture capitalists and more interest in crowdfunding. Crowdfunding expert Clay Herbert said, “Smart companies are using crowdfunding to not only raise capital, but to also validate products before making substantial investments.” Crowdfunding is one of the easiest ways to determine market demand for your product and get startup capital.
Content Marketing is In
More business are realizing the value of content marketing. Millions of Google searches are performed each day for a variety of topics. Content marketing helps position a brand as a subject-matter expert in its niche. It also helps customers find the company’s digital profiles and influences them to make purchases. It’s much cheaper than traditional marketing and is proven to provide much better results.
Video Marketing is Now Essential
Approximately 65% of the United States’ population consists of visual learners. This fact makes it more likely that an American will be more willing to interact with content that contains visuals. Videos have been found to be even more effective than images. A Forbes study shows that 65% of consumers have visited a vendor’s website after watching a video. If you want to reach customers, use a video.
Retail Stores are Disappearing
Online shopping has grown tremendously over the past 5 years. This growth has put several brick and mortar stores out of business. Shopping malls are closing and companies that haven’t made the transition to online sales are suffering. The only brick and mortar stores that could potentially survive this apocalypse are those that offer in-house expert advice or curated items. If you’re considering opening a retail store, your best bet is to provide most of your merchandise through online retailing.
Personalized Marketing Wins Sales
Consumers are wary of receiving generic messages from companies. They want the messages they receive to be specially tailored to them. What are their interests, goals and needs? Is there a way to directly address the message to that particular customer? This form of personalized marketing helps build trust in a brand and ultimately wins sales.
Keeping ahead of the competition in 2017 requires close attention to these business trends. Groom your young staff for leadership, invest in SMEs, utilize crowdfunding, adopt content and video marketing, delve into online shopping, and create personalized messages for customers. Your business will benefit.
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