What are some business trends to look out for this 2019?
- Personal marketing
- Online subscription services
- Niche products
- Online reviews
- Corporate social responsibility
Business trends come and go; 2019 is no different. But what’s important every year is focusing on improving customer experience and trust.
While prioritizing the needs of the customer has always been important (e.g. online tax calculators in the Philippines were created for struggling freelancers), technological developments have made it more vital than ever. Customers will judge your products or services based on its usefulness to their lives. Buyers have become more critical. They are less likely to fall for fancy packaging or flashy promos.
Your customers are more likely to post their judgment of your business’s actions on social media. This generation is becoming more aware of different aspects of their lives, including the things they pay for.
These are the realities that influence the current business landscape. Here are some business trends you have to look out for this year:
Personal Marketing
In 2019, personalization is the word to likely be the most used among marketers. Personal marketing is delivering messages to attract a specific customer base. One-to-one interaction with the customer will become the norm this year.
It is vital you first find out the preferred communication channel of your long-term customers. Buyers now prefer talking through SMS or chat over phone or video calls. You can find out what your own buyers like through website quizzes, polls, or individual surveys.
Second, aim to make your marketing content as personal and as engaging as possible. After all, people often buy based on emotion more than logic. You can target them by focusing on eliciting these three feelings; hope, shock, and anxiety.
Online Subscription Services
Most customers today want to stay at home. They are choosing to work from home. Thus, ordering things online instead of going to the mall has become more convenient. It should be no surprise that they are more loyal to brands that online subscription services. Buyers pay a fee and sellers would deliver their products to registered customers on a monthly basis.
Online subscription will continue to be popular in 2019 because it offers many benefits to small enterprises.
- Accurate customer demand prediction.
- Long-term shoppers have better financial control.
- It allows their employees to interact with their customers.
The best part about this trend is the creative freedom some subscription services allow Filipino freelancers. Taxumo, for example, is an online tax calculator in the Philippines which aims to make paying taxes easier for you by calculating your fees and filing your forms. By signing up to Taxumo, Filipino freelancers can focus on what matters the most — increasing their revenue!
Niche Products
Customers want products that are not only unique but also useful. It will be helpful if your company finds a specific problem none of your competitors have offered solutions for. This need comes from the over-saturation of the international market place. A niche product doesn’t need to do everything, as long as it’s clear about its specific purpose, from the marketing down to the actual use.
To find your niche, it will be helpful to do research about these three things:
- Customer demand
- Competitors with “unique” products
- Industries lacking cutting-edge products
Online Reviews
Online reviews written by other customers influence more than 95% of internet users to purchase something or not. In fact, 90% of people will not buy a product if it does not have a single review. Thanks to this, it has become easier for freelancers and small enterprises to grow their sales or for established brands to lose their reputation.
In a way, online review websites have become the new radio advertisement for the internet age. Take advantage of this trend in 2019. Focus on solving negative commentary in online forums by interacting with the dissatisfied person. Ask what their problems are and fix them immediately. Doing these can turn a buyer’s opinion of your company. In fact, 70% of complaining users will give your business a chance if their concern was solved quickly.
Corporate Social Responsibility
Millennials have become more aware of their social responsibility. This insight then influences their customer behavior. You will see loyal customers take to social media to expose companies getting away with crimes such as data breach, bigotry, and using illegal tactics. Once a brand is accused of being irresponsible, buyers leave. To avoid this situation, follow business laws and talk about your social effort resolutions to your buyers.
Key Takeaway
These trends will affect the way businesses generate sales and market themselves this 2019. As the year moves forward, customer demands take center stage. For your company to grow, you do not need to look very far, for your buyers already have the answers.