2019 wrapped-what to expect in 2020?
- According to Business Insider, 70% of marketers lack an integrated content strategy in the recent year. However, it has been estimated that strategic landing pages will help 68% of B2B businesses acquire new leads
- Businesses are expanding themselves in technology, human-relationship management as well as product-quality insurance
- Changing rules and regulations as well as taste and preferences of consumers have added some challenges for businesses in years to come
Major Business Trends
Businesses are expanding themselves and they are curetting new experiences for their consumer base. Brands like North Face are providing exclusive opportunities for their dedicated customers through exclusive stores. Movements to multi-sensorial communications, AI and automation shows the significant changes in the year 2019. For example: Alexander Jiving-Burnet created the Sniffy Machine for retailers that sell food and beverages. Also, the smart-phones that are on the hands of each educated people have transformed everything.
According to Forbes, in 2020 and in the years beyond sustainable business practices will take several major forms. Some of the important business practices include:
- World’s biggest companies are actively transforming their supply chain to become circular ( waste materials and returned goods are being turned for resold and reuse)
- The prospect of re-hiring previous employees by forward-thinking firms( industries like financial services)
- The trend of employee empowerment by providing them ability to work anywhere and anytime. This is more emerging in the gig economy.
- Businesses have been entering into the workplaces of the trust economy by providing quality products and fair treatment for workers in the supply chain
According to business insider, by 2020, B2B digital commerce businesses will almost double, earning around half of all B2B revenues. Also, it has been forecasted that marketing executives of some of the most successful companies will spend around 21% of their marketing budget on advertising.
Rules set to secure the tech companies
The 2019 is the year of digitization. We cannot ignore the fact that emerging trend of science and technology has also created threat among people regarding data security and standards. Companies are not in the position to sell secured software because they are not incentivized to do so. According to Fomster, governments are in the process of passing and implementing new laws to ensure higher standards for software security and data privacy.” The era in which tech companies inadequately test their software for security and privacy vulnerabilities is coming to an end. Late last year, for example, California became the first U.S. sate to enact basic standards for software used in the internet of things.
Government regulators and consumers are pushing businesses to reach towards the horizon by ensuring sustainability along with growth. Changing labor laws, truth in advertisement, social responsibilities and employee engagement in the diverged cultures is adding some challenges as well as opportunities for businesses in the beyond years.
