In order to build a successful business, it is important to understand business trends: what consumers are looking for and where business will be in the future. These factors are imperative in achieving measurable success.
The biggest trends, however, are within technology, and for businesses to stay ahead of competitors, they must know how to implement these into their operations and how they work best for their industry. Specifically, new software and analytics platforms are offering to transform the measuring of business performance and offer customers innovative products and tailored services.
Digitalist Magazine insists that most businesses are “only scratching the surface of what they need from analytics to compete effectively”, and there is much more that businesses can do to ensure their business paves the way in their market.
To that end, it is crucial to keep up to date on technological business trends that are on the rise in 2019:
The most effective form of marketing communications are those that are targeted towards specific consumer groups, and now technology can narrow this down even further. Automation through emails, social media, push notifications and text messages, as well as personalised print advertising have the capabilities to personalise the customer experience. More personalisation means more engagement, and more engagement will lead to more conversions and success.
Coca Cola’s Share a Coke Campaign is a great example of such; consumers were drawn to the product that replaced its traditional logo with the phrase “Share a Coke with…” followed by a person’s name. The idea of having a personalised Coke bottle increased engagement and heightened the popularity of the already well-known brand.
With voice recognition technology on the rise, the use of voice searches have continued to increase in popularity. The ease of use and speed of results is convenient for consumers and will result in longer sentence structures and conversational requests. As such, search engine optimization will be restructured, as will the way businesses will need to present their marketing content.
According to Google, 39% of smart device users are using voice search to look for business information, and it is because of this that SEO companies are identifying more conversational keywords into their strategies to facilitate voice recognition.
Although technology is constantly improving, it is unlikely that it will replace the human touch in delivering first-class customer service. However, with the aid of advancements such as the Amazon Alexa and Google Home, Artificial Intelligence is a leading trend that businesses will need to take into consideration. Engage Hub claims the rise in AI “has been a catalyst for enterprises to expand their offerings and adopt new tools that transform capabilities and processes.”
Being a student within our developing society is an exciting opportunity. The availability of these new advancements means the business industry will expand and offer various routes of career progression. Forbes insists that within a business, “technology can be your best friend or your worst enemy, depending on how it’s used”, so it is the responsibility of the new generation of entrepreneurs to use it to their advantage.
Starting September 2019, we will be offering a new specialism in Business Analytics in conjunction with our established MSc Business with programmes, which focuses on modules including Marketing Metrics and Analysis and Strategic Management for Competitive Advantage.
The MSc Business with Business Analytics programme is also available with Advanced Practice which includes an Internship or project. To find out more about your options, visit our programme pages below or enquire now.