Welcome to a new year and new decade. This is a big year for innovation and technology, as numerous tech experts have given their insight on what we can expect across the globe. One thing is certain, competition will get stiffer, and only those businesses that are able to evolve and adapt to the changes around them will make profit this year, and this decade.
So, how should you prepare your company to emerge as a winner in the 2020s? By focusing on key areas that are proven to increase value for an organization.
- Social Media:
When it comes to social media you need to intensify your presence this year. Social media is a great equalizer; it is also the place in which your business should focus in developing a strong voice in 2020. By understanding the strengths of each social media platform, you can use it to your advantage. For example, Facebook is perceived as a less youthful platform going into 2020. However, this can still benefit your business as older generations have undeniable buying power and have disposable income that younger generations do not .
When engaging with customers via social media remember that videos will continue to be at the forefront of successful business strategies. An example of engaging video content is Stories, a short video content that disappears after 24 hours. It is used on platforms such as Snapchat, WhatsApp and Instagram. Research has shown that audience find these ‘in the moment’ content more engaging than the routine updates.
Over time there has been a notable rise in ecommerce as more people prefer the convenience of shopping from the comfort of their homes. According to Statista, global digital buyers were estimated to be 1.92 billion in 2019 and it is predicted this number will get higher this year .
If you are yet to adopt an online payment option on your website, this is a crucial area to focus on this year. However, you must ensure that this payment option is seamless for your customers in order to foster brand trust, ease of action and a continuous relationship with your brand.
There is also the merge of artificial intelligence and ecommerce, this is especially beneficial if you are a merchant or retailer. Incorporating augmented reality into your product offerings will enable you form a closer relationship with your customers through the creation of meaningful experiences. This coming together of artificial intelligence and ecommerce will help your business make more instant connections by sending out targeted content.
An example of a company leveraging on this merger is retailer Gap. With the Gap app, customers can see in augmented reality what their clothing pieces look like when worn. Customers can even decide to purchase it immediately or “put it back” on the virtual shelf. With this augmented reality, the store owners can cut down on product returns since the customers can see beforehand how the product would look.
- Digital marketing:
According to Tara Robertson, director of customer marketing at Sprout Social, in 2020 businesses need to be more consistent and deliberate in their interactions with consumers, because the demand for personalization is at its peak more than ever before. Robertson says, ‘There will be a greater need for content and experiences that favors quality over quantity. Businesses need to spend less time thinking about their automation and more time thinking about how they can connect with their customers.’
One sure way to break through the saturation and connect with your customers is to send out messages that get read. With the average human attention span dropping from 12 seconds in 2000 to 8 seconds in 2013, it is pivotal to communicate with messages that are meaningful and concise, with a clear call to action.
Another interesting point to note is that, 68 percent of emails are opened on a mobile device, and research has shown that a typical mobile user checks their phone more than 150 times a day. Therefore, you can leverage on this by making sure your website and emails are optimized for mobile devices. You can also create a mobile app that targets back to your overall organizational goals.
- Employee communication:
We cannot write about getting your business fit for 2020, without mentioning a very important equation to your business success- the employee. When there is an issue or misunderstanding in communication internally, a lot of problems emerge, which eventually show up externally.
Employee communication has evolved over the years with the advancement in technology. Research has shown that communicating with employees through emails, phone calls and meetings are becoming outdated.
In 2020, business are advised to adopt mobile-first employee communications, such as Jive software, Snappcomms, and Slack. As these communication apps have been proven to strengthen productivity, boost employee engagement, and reduce misunderstandings.
You can get your business fit for 2020 by developing or strengthening your business in these areas highlighted. You need to be very intentional about how you position and conduct your business this year. Start strong, keep the momentum, and you are guaranteed a strong finish in 2020.
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