5 Business Trends That Will Continue to Rise in 2020
By: Antonia Ava
What Makes the Business Boom at the End of the Year?
Lots of factors come to mind like stock exchange, marketing strategies and so on but there is one secret; holiday season. With holiday festivities at the mend, one cannot be certain as to how the year will end. But one thing for sure is that this year has been good for several business ventures around the globe.
Despite the FMCGs making their sales and profits since the century begins, the new industrial niche is on the mend. With the Christmas and New Year around the corner, it's a good idea to revise your predecessor tactics and convert them into online segmentation. Utilizing the new technological domains is risky but with business comes risk and with risks comes to profit.
It’s beneficial in the long run as business ideas are more globalizing with the prospect of attracting a larger audience. So by 2020, several technical and non-technical domains are expected to rise in high demand.
Everything is shifting online! Even your customer.
By categorizing the annual sales few businesses have done much remarkable progress than the rest, based on their strategies and skill set. With new demands and creative marketing ways businesses always has to be more creative. So why not take a look at those skills and configure the top five business trends taken at the speed of a bullet train within the past year. These are also expected to grow in the year 2020.
1. Chatbot Marketing
With online users switching from social media forums to private chat boxes and stories has taken up for granted. Although messaging remains unbolted in the technology industry it is the fastest consuming trend this year. With the innovation apps from Viber to Facebook Messenger to Whatsapp, it's an era of modern marketing technology.
Companies are focusing now on expanding the Chatbot marketing globally with reducing customer service appeal. Chatbot is replacing the customer service department. The usage of such function tends to minimize over the few years, where customer can link directly with the company and vice versa. But the question remains can customer services be minimized from the scene? Afraid not. But it is replaceable.
2. Translation Services
How a language service can be of help for someone like a domestic user?
One question that keeps propping at mind is how reliable and expense worthy is translation services? Indeed several global businesses are relying on translators these days for global expansion. Now, why is that?
Such as Mars Translation has been able to target global attention because of being a reliable source of the translations service provider and the fast turnaround time has been a great value-added benefit for clientele. Companies are now utilizing the translation services for reaching the client out of their comfort zone. Localization is becoming a trend for the upcoming decades. It helps the businesses to understand their local market effectively and in a better way too. And thus, the strategies keep evolving with trial and error method.
3. Artificial Intelligence
One of the outreaching technology innovations lies with EI (Emotional Intelligence) and AI (Artificial Intelligence). According to estimation, by 2020, the businesses involved with AI will earn the profit for $3.9billion!
And that is just the initial stage we are talking about. This technology knows no limit. It's applicable in every industry niche (from education to the health sector and more) the boundaries remain to be tested. For instance, the mega tech in mobile phones like Apple Inc. introduced Siri (as advances machine learning technology) in iPhone 4S. This example solidifies the concept "Narrow Artificial Intelligence", a task-oriented – the focus is to perform specific tasks. Other examples of Narrow AI are; Google search, image recognition software, and Alexa (by Amazon), etc.
4. Machine Learning
Ever got your software update notification?
Each computer-oriented program goes through the automation software process. Computer algorithms are the main study focus and the updates are generated concerning each innovation in the software learning and so on.
These days as technology tend to rise, machine learning is becoming one of the vital important tech skills. The benefit it claims is that it applies to all industry niche. With the Autobot messages and help or support tool offered by Windows, Apple, Google, etc. are voice generated now ( as optional) and what about the self-driving vehicles? Such as bullet trains? Imagining an automated train with the speed over 200km/hour? It didn't seem believable back then, but now, let's talk about building cities underwater. Technology remains ever-evolving.
5. Search Engine Optimization
With everything evolving around online centers these days, competition is tough and you have to stay up on the Google ranks. Managing the ranking and leads is another hectic job to do. Online businesses are catering to the idea to be competitive than their competitors.
So the focus is not only on the product or services but the behind force of SEO counts as well. Recognized as the modern marketing department, this skill line has become a handful of power control. The more sites your visits, the more sales generation. It sounds deceptively simple, but it's not. To understand the customer's need and to generate traffic on the website or the link SEO is a good practice. It's like a fuel system for the online business. Smart upgrades and the use of the latest marketing oriented strategies can update the game.
The Age of Development is here
Why not notch up the tech game a little to enhance the sales?
It's not hard for a business to obtain a handful of such powerful tools but to retain it, in the long run, is what makes business globally successful. The business landscape is ever-changing and every year new technology is knocking at the door. The technical domain for businesses always needs to be updated to cater to the attention of clients and the online user community.
Be creative, be smart and keep your career and business moving with ease!