In this text, experts have highlighted some of the most significant trends everyone should consider. One of the key drivers of today’s economic growth is small business startups. These startups are pivotal in improving the economy by creating new job opportunities and employing more people than large firms. While the Internet has helped these small businesses grow, they still face significant challenges in establishing a good market for themselves.
Recent research by the National Small Business Association reveals that the primary reason for business failure is economic uncertainty, leading people to spend less over time. Therefore, it has become crucial to identify which business idea is worth pursuing in today’s economic climate.
Experiential Marketing is Becoming a Regular Thing
There’s nothing quite like the beaming smile of a satisfied customer after they’ve made a pleased purchase. In today’s digital age, customers have the power to share their experiences with the world through social media reviews. These reviews can significantly impact a business, either positively or negatively, making it crucial for business owners to prioritize customer satisfaction.
Today, businesses increasingly involve their customers in developing their products and services, a marketing strategy known as experimental marketing. This approach has gained popularity due to its many benefits, and it’s expected to grow as more companies recognize its value. As a result, the testing market is poised to expand, offering more opportunities for businesses to connect with their customers and create products that genuinely meet their needs.
Era of Freelancing
One of the most significant issues a small new startup business must face is the stress of hiring full-time working professionals with a decent salary. To avoid this issue, business owners often consider hiring freelancers. Due to the introduction of video chatting, file sharing, and project management platforms. Now is the time when many small businesses will be hiring freelancers to handle advertising, finance, and technology-related jobs.
Personal Data Security
We need to focus on customer security regarding their data. Online scams are increasing over time. More people invest in these online businesses without proper research, often costing them money. Besides all the warnings and ads asking people to protect their data, companies should focus more on changing/ complicating the current data structure to help protect people from such activities.
Cryptocurrency
Unlike most small business owners, instead of dealing in “Bitcoins,” it is better to use the Blockchain technology that supports it. The blockchain is a fast-growing list of blocks that are connected using a method called cryptography. This process is tokenization, converting assets such as gold, stock, or money into digital tokens.
Artificial Intelligence
After years of hard work and research, the practical results of artificial intelligence can be seen visibly, especially for marketers. According to “MDG advertising,” artificial intelligence is expected to have the highest growth in coming years, especially regarding marketing-related fields.
Continued Digitization
2017 was the year of many new business trends, especially digitization-related. However, due to the rise of virtual/ augmented reality and cryptocurrency, digitization is expected to grow even further, making digitization a worthy platform for investing.
Messenger Services and Platforms
Now that SMB marketers are willing to use Messenger App-related platforms to promote their business, the demand for Messenger apps and media has increased frequently. WhatsApp is another excellent example of how most small business owners use it to engage with clients and customers. Such messenger services and platforms are expected to bring around “$2.25 billion”, according to a report given by Statista.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
