You can level the playing field against the big boys by understanding the trends that affect your vertical in 2020.
Competition on the global landscape is growing increasingly fierce. Resultantly, Europe has started to challenge the Americas in innovation and scalability. These kind of market forces are shaping the business landscape moving into 2020. Globally, the typical market leaders – the U.S. and China – are battling to maintain their position on the top of the corporate heap.
Data Rules the Work Environment
90% of executives believe that big data architecture will prove essential for effective financial performance over the next three years. Despite the shadow of Brexit and economic uncertainty, innovators are continuing to deliver new enterprise concepts fast and hard. What’s more, there’s no shortage of hungry venture capitalist willing to foot the bill.
As of late, most startups are hot on online marketing. The appeal of being able to target niche audiences cost-effectively using a massive amount of data is too profitable for tech savvy entrepreneurs to resist. However, it’s becoming increasingly costly to deploy digital tactics. As a result, managing massive amounts of data is starting to eat into the return-on-investment of many start-up enterprises.
Today, consumers are more technically savvy than ever, and they need to be. Contemporary buyers must process an ongoing barrage of advertisements coming at them from every direction. As a result, off-line advertisement is becoming increasingly attractive to consumers – and marketers. Now, marketers are once again turning their attention to offline advertisements because they need some way to differentiate themselves from competitors.
Now, It’s the Age of the Instagram Influencer
To date, marketers pay Instagram influencers upwards of $18 billion every year. So far, Instagram influencers are still the coolest thing since sliced bread on social media. Expect to see more #’s in your feed and more attractive stars peddling their wares in 2020.
And it’s no wonder. Major brands like Estée Lauder have signed their stamp of approval on influencer marketing by earmarking 75% of their marketing budget to the channel in 2020. Brands are warming up to influencer marketing at a breakneck pace. This year, experts believe that influencer marketing will mature into a media channel that extends its reach beyond simple problem-solving and feel-good content.
With increased popularity for influencers, comes increased marketing spending. Nevertheless, you can expect to see some exciting developments come across your social media feeds this year.
One big change you might notice is that video advertising is blowing up. This year, experts forecast that video will become more collaborative and creative than ever before.
For now, the experts believe that video will usurp written content in 2021. However, it’s unlikely that society will stop reading anytime soon, so video will have its moment – for the time being.
Positivity Reigns Supreme
95% of employees believe that burnout contributes to increased turnover. As of late, mental health and wellness in the workplace is garnering a great deal of attention in professional circles. For years, professionals have understood the consequences of burnout. Still, most professionals push their minds to the max by answering every notification that comes to their smartphone – whether it’s for business or personal reasons. Now, cell phones are many peoples’ only connection to the outside world. Meanwhile, people are feeling more disconnected.
Boundaries are fading away in the workplace. It’s not unusual for employees and employers to continue working on off hours, including weekend nights, holidays and evenings. Of course, the result is increased anxiety, burnout, depression and stress.
Something Needs to Give
Despite the reason, people can’t go on working themselves to death. More people are starting to recognize this reality. As a result, they’re paying more attention to themselves and adopting practices such as mindfulness and wellness. At the same time, more employers recognize that they need to make sure that employees stay healthy so that the business stays healthy. Moving forward, it will become increasingly necessary to look out for the health of employees to keep the bottom line intact.
Some employers have gone as far as to prioritize mental wellness by, for instance, implementing a mandatory work shut off time. Employers take shut off time seriously. Workers who continue to work beyond shut off time can be reprimanded. In addition, more employers are offering benefits and perks to make jobs more satisfying and healthier for staff members.
If you’ve been looking for ways to improve employee wellness and satisfaction, look no further than permanent flexibility. Like flex hours, this is the newest workplace trend.
Like any other great perk, employers hope that permanent flexibility will attract top talent. It’s a great benefit for working parents who are highly skilled and willing to take a pay cut if it means that it’s easier to balance childcare. After all, family comes first.
You can improve employees’ lives by offering benefits such as remote work, flex scheduling and unlimited paid time off. In the end, you’ll help your employees enjoy better work-life balance. If you keep your employees happy, they’ll keep your customers happy, and you’ll enjoy profitable, sustainable operations no matter what trends take shape in the marketplace.