Some call them fads and others use the word trends. We have watched many come and go, and come back again:
- Bell Bottoms
- Tie Dye
- Long Hair
- Short Hair
Business works on a similar process; there are business trends that come and go. Some of these business trends stay for a long period of time and others fade away quickly.
In today’s post, I am going to share some current and upcoming business trends that all entrepreneurs should be aware of. By working these business trends correctly, you can grow your business in amazing ways. But if you ignore the trends, you may discover a large customer base ignoring your brand.
Business Trends #1: Deeper Customer Engagement
Customers want to know that brands truly care about them. They want to be treated as individuals and businesses must use methods to achieve this all important business trend. We saw this develop slowly with businesses such as Burger King offering the opportunity to “Have it your way!”
It Is imperative that you treat each customer individually. Call them by name, offer to show them some tips and tricks and inspire them on social media and in person.
Business Trends #2: Show Them The Green
You may be thinking I am talking about money but I am not.
Going green has been a trend for businesses for several years and I believe this trend will continue to grow. People want to do business and partner with entrepreneurs who are planet conscious.
Find ways to save energy and lessen the footprint you are leaving. And, if you can create a product or service that achieves a green initiative, you will surely make huge profits.
This also falls in line with the sharing system that has become prevalent.
- Sharing office space
- Shared living spaces
- Uber
- Airbnb
- and Peer-to-peer lending to name a few.
Business Trends #3: Quality Over Quantity
We have went through several years of accepting products that were considered disposable. That in itself was completely against trend #2 by filling landfills with rubbish.
People are generally fed up with buying cheaper goods that wear out faster and are less attractive. I predict that trends will take us back to “paying more for quality.” Customers are generally measuring the length of time a product lasts and realizing they are saving both time and money by spending more for items that will last longer.
Business Trends #4: Products And Services Geared Toward Freelancers
Everyday, people are discovering that freelancing their skills and talents is more lucrative than commuting to a job and trading hours for dollars.
Knowing that they can work the hours they want to work and achieve financial independence by managing their own stay-at-home freelancing business has grabbed a huge piece of the population.
These freelancers will need products and services that help them automate as much of their tasks as possible. If you, as an entrepreneur, can solve problems for freelancers, you are poised for huge success.
Business Trends #5: Hiring Blind
So many employers and employee recruitment firms have been battling a huge issue; they are forced to hire in percentages based on
- Race
- Gender
- Age
- Economical class
- and more…
What has developed are candidates with little or no experience being hired just to fill the percentages.
I believe we will see a huge system of “blind hiring.” Services will determine the best candidates based strictly on their skills and samples. They will not even look at any other variables such as education, experience, race, etc… Interviews will be done using an anonymous approach and even using voice masking technology.
Business Trends #6: E-commerce Competition Craze
There was a time in the early late 1960’s and early 70’s when gas stations were at war with each other. One gas station would have gas at 7 cents per gallon and the station down the road would drop their gas to 6 cents.
The gas war was on and I believe we are going to see a similar thing happen with E-commerce. The competition is getting ferocious so unless you have a product or service that is completely unique, you will probably be forced to take a huge hit in profit margins to gain sales.
Business Trends #7: The Infusion Of Augmented Reality
I believe we will see a huge rise in augmented reality. Consumers will be able to pick the product and sit it in their home, on their land or anywhere the product may be used to view the layout and how it will “fit” in the space.
If you sell physical products for homes, you may want to introduce augmented reality into your customer’s experience.
Conclusion
These are a few of the trends I predict will take hold moving forward. I also do believe we will have to continually adapt our websites to keep pace with the changing search algorithms. Google and others are attempting to make the internet a great zone for consumers and it is imperative that entrepreneurs keep pace with these changes.
As always, keeping track of your business expenses and keeping the profits flowing is a major factor. Many entrepreneurs know that having an automated method of doing this can save time and relieve stress. The Expense Tracker is a great way to manage those business (and personal) finances. Learn how by clicking here.
What are your thoughts on coming business trends? Please post your opinions and questions below.
Thank you for stopping by today. May your entrepreneur journey take you
To The Top!
