Business Trends That Will Impact 2019

The business industry is one that will always grow and evolve. As author and professor of economics, Peter Grossman, says, “Today, brands need to look more actively and purposefully at the culture buzzing around them and use it to inform how they should best position and integrate themselves into the world.”

Here’s a look into the business trends expected to have a significant impact in 2019:

Marketing and advertising:

User review. By and large, customers look to user reviews to gain an understanding of the products for purchase. More than 90% of people looking to make a purchase choose to opt out of a purchase when it lacks customer reviews. With no change in sight, businesses will begin to implement review forums where their customers’ opinions can be published and acknowledged.

Personalization. If you aren’t fancy to the word, get used to it. Personalization has already impacted so many aspects of business, and there is plenty more change to come. As consumers expect transparency and a connection to the companies they support, companies will have to work on presenting themselves uniquely and genuinely: say goodbye to stock photos and hello to yearly headshots!

Sales and customer service:

Human touch. Although it seems to be a common fear, technology will not replace the “human touch” of the customer experience. While technology and artificial intelligence are rapidly developing and expanding, it is used to enhance the process and allow for better information, methods, and insight, and it will enable employees to perform their roles more efficiently and effectively.

Modern customer. As specific preferences for efficiency increase, the contemporary customer expects better user experiences and customer service. Businesses that prioritize fast delivery and personalized service will take precedence over those that don’t; and this spans to all areas of business, including food service, car repairs, financial services, etc.

Technology and cybersecurity:

Cloud sharing. When first shared (pun-intended), the expectations of the cloud were negative on a large-scale, as all new innovative ideas typically are. However, as cloud-based solutions have become more diverse and prevalent, security concerns have continued to dissipate leading to a continued increase in its usage.

Big data. Artificial intelligence has shown the importance of looking at business aspects from a big data standpoint. Because of the growing demand, big data is becoming more accessible, more interactive, and more usable by business IT and analytics.

Blockchain. This technology has continually gotten stronger and more common. Before long, blockchain’s ability to provide security and efficiency to everyday operations will be seen as a smart business practice; therefore, more and more leading businesses will be forced to recognize and implement blockchain technology within their business model.