Industries and businesses globally are seeing shifts and changes caused by significant events such as the pandemic that rocked the world in 2020. These events bring about specific patterns or “trends” that soon become a norm for people or a way to grab their attention.
As a business owner, there has never been a more challenging period, especially regarding these trends that have every likelihood of affecting your business. Keeping up with these ever-changing trends that face the business world could be problematic.
One thing is for sure: the future is in tech.
A business that hasn’t incorporated technology in a digital world such as this is a time bomb waiting to happen. In fact, 2020 and 2021 saw more companies across all sectors in the world turning to more tech to remain productive.
What are the business trends that might happen in 2022 and beyond? What significant implications do they have on businesses all over the world?
1. Social Media Is More Than Just Pictures Now
The influence of social media is increasingly rising as social media has successfully done adequate marketing for e-commerce-based businesses.
The power social media wield for businesses is no joke.
TikTok took the world by storm in 2020. Even the pandemic didn’t stop the social platform from recording a whopping $1billion in revenue, most of it from the new tool they created for businesses to use the platform to run ads.
Other social media platforms have also widened their features beyond pictures and videos – to advertising for businesses. Businesses also turn to influencer marketing, paying an influential individual with a large social media following to market their products.
Over 80% of marketers employ this strategy and report that it works. Social Media commerce, data says, is currently on the rise and will continue to rise further as the world continues gravitating toward social media
2. New Working Models
In the aftermath of the pandemic, flexible job roles in various sectors are upswing.
Remote jobs and hybrid job roles are now made more available than ever. The hiring of freelancers is also on the rise.
There are even job websites dedicated to helping freelancers and remote and hybrid workers find jobs. Many companies don’t just offer hybrid and remote working models, but they don’t care where they’re working. This is creating yet another boost for people who identify with digital nomadism.
A digital nomad works from anywhere globally, using technology to carry out his job efficiently. With the new restructuring, many digital nomads are even deciding to renounce their U.S. citizenship.
3. Cybersecurity Is More Important Than Ever
As we’ve discussed, technology has given businesses a massive edge in recent times. Companies can now access clients from all over the world without much ado.
Sadly, the heightening use of the internet comes with the cons – the biggest one being the issue of cyber security. There have been increased attacks on corporations over the years.
With the sophisticated and creative tech tools available, hackers are getting more innovative and clever in breaking into a company’s security and wreaking havoc. How can businesses survive this? By upping their game on cybersecurity.
With a highly protective security system, a company’s database can be untouchable, and a security breach becomes next to impossible.
4. New Learning Styles
Virtual Reality VR and Augmented Reality AR technologies have come a long way to become valuable and sophisticated tools for businesses of all sizes looking to grow. In 2022 and even beyond, more companies will rely on the world of AR and VR.
For companies who wish to upgrade employees’ skills and employees who want to learn on the job, AR and VR are a lot better options than simply enrolling in a course. Try augmented reality.
In the workplace, AR can enhance the learning and understanding of both trainees and seasoned workers even faster than merely watching a video teaching how to do the job. Because of AR’s innovative and exciting experience, one can get the feel of it, thus learning faster.
5. New Focus on the Environment
The trend to run an eco-friendly business is in full swing across the business world. The theme “going green” is a sustainability business approach that seriously considers how an organization operates and how it affects the ecological and economic environment.
A business that seeks to improve on its eco-friendly status is a business that is creating long-term value and fostering longevity. Not to mention that the eco-friendly position of a company contributes immensely to sales as customers are more likely to shop with sustainable brands.
What is good for the planet is good for business.
Giant industries such as Nike and Adidas have joined the businesses focusing on the environment. While Nike is working towards reducing its waste and is currently utilizing renewable energy, Adidas has pledged that by 2025, nine out of 10 Adidas articles will be created from sustainable materials.
How can businesses become more sustainable?
- Use more sustainable products such as less paper, natural-made cleaning products, and clean tech.
- Watch electricity use by using more LED light bulbs and electrical appliances that consume less power.
- Switch to electric vehicles, also called EVs. Electric cars are becoming more affordable with cheaper models coming into the market. Electric vehicles significantly reduce air pollution and greenhouse gas emissions than gas and diesel-powered cars that endanger the planet.
Summary
As things in the world change, businesses must change. By following the trends and adjusting one’s business model to it, survival in the business world’s heavy competition will not be a problem.