business world

My 2019 Predictions: Speculation in The Business World

I’ve been thinking about past and current trends in the business world and wanted to share my two cents on the matter. Over the years, we’ve seen the rise of smartphones and social media. This particular platform has allowed for more innovative advertisements.

Back then, we only had static pictures and witty taglines. Now, we have videos, gifs, and even interactive advertisements that entice potential customers in creative ways.

Streaming sites, notably Netflix, have also grown in popularity. The same goes for Amazon and Kindle. These are all websites where you pay online to avail a product or service. It seems that the business world has become more convenient. People can buy what they want with the push of a button.

Cameras have also gone a long way. From the good old film camera comes today’s highly advanced digital cameras. And since most phones come with a built-in camera, everyone can take snapshots. What was once a profession for only those who could afford a camera now becomes a hobby that anyone could try out.

Lastly, there is cloud accounting. It works the same way as traditional accounting software. The only difference is that it’s available on remote servers. Users send data into ‘the cloud’, where it undergoes processing. It allows people to accomplish their work away from their office cubicles.

Through these trends, we see the enormous impact technology has on the business world. Its advancements allow those in the business landscape to innovate. It also provides for the creation of machines and software that make engaging in business more convenient.

Keeping Up with Trends in the Business World This 2019

I’ve thought about these things for a while. And I’ve decided to create a list of advice that can help those in the business world take advantage of upcoming trends.

  • Find your niche.

Being a jack-of-all-trades company may seem like the way to go. The more products and services you offer, the more chances of profiting, right? But we’re entering the age of specialisation.

There are a variety of good reasons why a lot of companies in the business world are looking for their respective niches. You should too, and here’s why.

  • Quality Goods and Services

First, specialising will ensure that you’re able to provide your target market with quality goods and services. You’d be able to outdo other companies with a more generalised set of products because specialising allows you to focus your resources on bettering a small collection of goods. And by becoming an expert in your chosen field, you make it difficult for rival companies to compete.

  • Run a Smaller Firm

Second, we all know that it’s tricky to run a business. If it’s is sizable, it becomes a tremendous challenge. But if you find your niche, you’d be running a smaller firm. It makes it easier to keep up with trends and developments within that industry. You’d have an easier time adjusting to changes in your particular business world. Lighten the load; reduce the learning curve.

  • Builds Authority

Third, specialising gives you a certain level of authority in your niche. Although it’s possible that you’ll bring in fewer clients, this authority allows you to charge more. Think about it. If a patient is looking for a particular medicine for their heart condition, which doctor would they see as more qualified—a general practitioner or a cardiologist?

  • More Effective Advertise

Fourth, specificity helps when you advertise. Suppose an aspiring artist wants to learn about calligraphy. He browses the Net for lessons and finds multiple company names. ‘Arts & Crafts Studio’, ‘Art Smart Incorporated’, and ‘The Artisan House’ pop up, but they seem too general.

Then he stumbles upon ‘Calligraphers Anonymous’ and picks that. Being specific tells potential customers that you know what they need and are ready to give it. It makes your company a more appealing choice.

  • Better Networking Opportunities

Finally, specialising leads to better opportunities in networking. If your product is of high quality, it’ll reap in a lot of benefits. People who use it and are satisfied with it will recommend it to their peers.

Also, non-rival companies with products and services closely related to yours might offer partnerships. All in all, it becomes easier to make profitable relationships.

  • Advertise your business on YouTube.

YouTube stands as the second largest search engine and the third most visited website on the Internet. People watch billions of videos uploaded on the site for entertainment, educational and promotional purposes, making it a top contender for ads in the business world.

Aside from the sheer size of its audience, YouTube also personalises every user’s ads. With the help of Google, it connects your company to the audience that is most likely to be interested in what you have to offer, which the site determines from the keywords in each user’s Google search history.

For example:

A Google user searches for the latest releases in the gaming industry. YouTube takes note of this data. The next time this user decides to watch a video on YouTube, they will see a promotional ad for a gaming company’s new release.

YouTube also has many ad types to choose from. From simple pop-up banners to full-length videos, there’s sure to be something your company can benefit from. These are the advertisement types that YouTube offers to its clients in the business world. However, there is another way to advertise your product on YouTube.

Creators on YouTube (that is, users who create videos) can agree to promote a product for a company of their choosing. The requirements and benefits will vary from creator to creator, but it’s a sure way of advertising a product to your chosen audience. You’ll know when a creator had marketed your product when “Includes paid promotion” appears on the bottom left of their video.

Going back to the gaming industry example, a gaming company can reach out to gaming channels with large followings. They can have these gaming channels play a demo of their upcoming release. It ensures that it’s fellow gamers who are enticed to buy your game.

  • Hire a virtual team.

A virtual team consists of individuals who work from different geographic locations and rely on technology to communicate. Structures like these are the future of the business industry. It will render physical offices a thing of the past.

In the age of technology, convenience and flexibility are appealing to many workers. They want to be able to do their job from the comfort of their homes.

Building a virtual team broadens your company’s horizons and saves you from having to buy a physical workplace. Additionally, a geographically diverse group can help you learn about the different trends of the world. Thus, adapting to them becomes more natural.

Recent studies show that virtual teams that are well-managed and widely spread are performing better than those that share physical office space. Productivity has also increased by up to 43 percent.

  • Apple shall be dethroned.

In terms of software and hardware, Android devices have always been more accessible than those from Apple. Their phones have SD card slots, dual sims, and headphone jacks that Apple phones lack. Only recently have they been upgrading their hardware, making Android phones faster and more efficient. The same goes for the rest of their devices.

With more accessible, customizable, and affordable devices, Android is well on its way to dethroning Apple. It’ll still be seen as a luxury brand, but the majority’s preference will shift to Android. As such, it’s time to invest in more in Android rather than Apple.

Start using Android devices to communicate professionally. Engage with the company and become business partners so that you can both promote your products and services. Do what you can so that you and your business can ride Android on its rise to fame.

Why Is It Important To Keep Up With Trends In The Business World?

The business world has gone through a lot of changes in the past years. Technology, notably, has moulded the landscape. It offers an entirely new platform where the business world can flourish. And with that platform comes different trends.

These three pieces of advice are what I recommend to companies in the business world. It will help them stay on top of the trends and improve their sales.

Trends shape the business world. Thus, following them gives you the data needed to boost your sales. Adapting your company according to this data will help you in bettering your company. Simple? Now, do the work to get your desired results.

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