Too often, companies fail due to the fact that their leaders rush to do everything at once. However, the key to successful business management is to focus on what matters and delegate the rest. But how do you know that the most important thing? Often this can be done by watching the trends and adapting to them.
These 13 trends from the founder The Mission of Grillsa Chad (Chad Grills) have to give enthusiasm that will help take your business to a new level.
1. Local partnerships and joint ventures will attract buyers to offline stores,
Expect a surge of activity in the field of partnerships and joint projects in the form of small shops and "hydropol" (model first tested by the company Bonobos). For example, when you go to headshop Bonobos to look for a suit, you a free tea or coffee from Starbucks. In addition, strong brands with physical stores will open up a shopping Plaza with other similar brands and specialized products.
2. The importance of user generated content will only grow
Consumers trust user-generated content (UGC) more than any other media, so that retailers will pay attention to it and create more new ways to use it for brand promotion.
The company will work together with their clients to motivate them to create content. Probably, an important role in this case will be devoted to storytelling, as companies want to share the experience of their customers.
The UGC segment will gain momentum gradually and will appear in a new form, when the business learns how to motivate customers to create content.
Cooperation between business and customer in any event will become closer and expressed in the form of UGC, reviews, ratings, recommendations and advertising. Here is a simple and clear example from Starbucks: you get our white vacuum Cup, paint it and send us photos!
3. Trendsetters and stars become even more powerful
To better navigate in an endless stream of noise in the network, consumers will turn to brands and people they trust in the product recommendations. You may have heard about the "Oprah effect" or "effect Tim Ferriss", and their power is hard to overestimate. They talk about a product all at once pay attention to it and want to try. Likely companies will be to create recommendations in an attempt to create to achieve their own "effect (insert name)".
As prices for product placement and advertising in podcasts skyrocketed, we can say that the market reacts positively to this.
4. Media must help the audience to improve their lives
Business and other market participants should continue to look for ways to bring his audience positive emotions and to inspire new and better life.
People are tired of the fear, uncertainty and doubt that prevails now in the information and news flow.
Media should inspire hope and faith in a brighter future. Better suited for this Medium, YouTube, Instagram, Facebook and other platforms in which these "life's little moments" can be represented in the form of images or videos.
In the short term, the most popular will be those media that will inspire audiences on faith, hope, gratitude, and commitment to excellence.
5. Loyalty programs will become more personalized
This year and the near future, a key strategy will be a campaign to increase loyalty. The most advanced retailers will collect more and more information about the preferences and behavior of customers to on the basis of this to offer personalized bonuses and offers that will help to establish or resume a dialogue and motivate them to purchase in the future.
One example is the company Target, which is based on the data tried to identify pregnant women clients and accordingly customize product offerings. To lead there are companies who will be able to identify such details most delicately and accurately.
Companies producing a credit card, will have a chance to achieve absolute loyalty when any other program will be tied to your credit card and private loyalty card Issuer. Such programs will become more friendly to consumers and brands.
6. Program reimbursement risks, returns and guarantees will become more elaborate
Convenient, free, and automated process for returns is becoming the standard. The times when to return had to call the retailer or send an email, leave in the past.
But why the simplified refund procedure should be considered the best strategy? Because more positive customer experience and the convenience of quick return increase the values of the majority of customers in the long term.
Examples of this are many:
Company for the sale of mattresses offer a 100 day trial period, during which the mattress can be returned free of charge if you do not like it.
Companies like AddShoppers guarantee a 10x ROI in comparison with the price of them.
Stores Nordstrom accept for return any goods at any time (sometimes even demanding a receipt!).
To provide the compensation risk and performance of guarantee obligations not so easy, but companies will have to find ways to thrive in the future.
7. External and internal crowdfunding platform will be used to test new ideas and products
Crowdfunding campaign on third party platforms are often used to Finance new projects, retailers, creative and other professionals who had no other way to release their product.
This year more companies will use crowdfunding on our own platform. For example, the company Miir launches campaign on its website to test demand before launching the product into production.
8. The company will evaluate their social contribution and tell people about it
Companies no longer just to tell about their social projects and begin to use real data showing the impact of their employees or products to the world. For example, as a company, Patagonia.
This approach will help companies do more to attract Millennials and employees of other ages who want to feel pride in their contribution to the work of the company.
9. Localized production will help to increase the velocity of money
Albeit we can not say that the us economy fully recovered from the recession of 2008, the overall situation has improved significantly. However, the need for new jobs and local production persists.
The term "velocity of money" describes how fast the currency is moving from one transaction to another. Usually this index is determined as a ratio of gross national product (GNP) to the total amount of money in the country.
After the crisis of 2008, the velocity of money in the United States has decreased significantly. In the 1st quarter of 2016 it was only of 1.46, whereas in 1997 was at the level of 2.21.
In an attempt to improve the state of the economy and to win the loyalty of customers who appreciate locally produced goods, more and more companies are establishing local production. In the future this may lead to an increase in the velocity of money.
10. The number of partnerships in the field of intellectual property will grow
Favorite characters from childhood is back, but now they are going to advertise goods.
If a sudden and comprehensive downloads game Pokemon Go us something and taught, it is an incredible love of people to products that evoke a sense of nostalgia.
Now, when companies are convinced how nostalgia can be good for business, we will see more and more projects in this style. Pokemon Go project was implemented jointly by four companies – Niantic, Nintendo, Google and Apple – with the result that only one Niantic earned for the year 2016 of approximately $1 billion.
Such partnerships involving multiple companies took place before, but not on this scale. In 2016, the producer of goods for sport Onnit together with Marvel have released a huge number of new products – from t-shirts with Captain America to kettlebells the Iron Man.
Despite the obvious differences between these two examples, they have one thing in common: in neither used a favorite childhood characters who return to adult consumers. The potential of monetization of your favorite characters was known always, but the success of Pokemon Go will inspire the company to more decisive actions. Now, when we saw the real effect of such cooperation, more and more brands will adopt a similar approach.
11. The most important thing for businesses will be to master data science and UX design
Until recently, web analysts there was enough to use one of many tools to evaluate the performance of the website and transmit this information to management. However, over time, will need more than just correct information about user behavior.
In 2017, the data access is open to all. Now companies need to figure out how not to drown in this flow of information. Companies that can create your own team on web Analytics and study the data, can show better results than those who give these responsibilities to be outsourced or, even worse, will misinterpret the data and UX indicators on their own.
In addition, to succeed will be the ones companies that will give teams studying data and developing a space for new experiments.
12. Leading companies and brands will take over the role for the study of public issues and debate
Participation in discussion of important themes in society contributes to the growth of customer engagement in the communication with the brand. Such a strategy tried Amazon with simple text tips that appear when you hover the mouse on a Kindle on the store website.
Simply saying, "Now is the best time for books, not for the screen" allows Amazon to say about the issue of concern to many buyers, especially parents: "screen time".
Many people like to use their devices more productive or simply spend time with them less time. Many people tend to spend less time on smartphones and more on reading books.
This tooltip allows Amazon to join the discussion about screen time and politely say: "This is not just another screen that will distract you from the important things. It will help you to read more".
The risk of disturbance to a small number of users fully compensates opportunity to establish important for many problem and to help the client and push him to buy, which he will regret.
Many other companies besides Amazon wisely utilize important public debates that affect their interests. They know about all the debates and disputes that unfold where it may be affected by the company's product.
There's a good chance that your product can be associated with a particular topical theme. Most likely, he's even been known to consumers. Just need to find the right way to present the product as a mediator in this public dialogue.
Can you manage these discussions? Companies who have something to say on a particular topic, do not be afraid to provoke such discussions. Companies that do not have their own opinions on important issues will eventually be out of business.
13. The company will build or buy to personalize and enhance your data
The arms race in creating new ways to personalize customer interaction is gaining momentum. For such technologies, companies will be forced to invest. There are only three options: to create the right solution, buy it or lose.
One of the examples of companies that help process the data and maximize profit, it's AddShoppers. Getting comprehensive information about the behavior and social preferences of the customers, brands can learn to work with them as unique personalities.
For modern business fairly frightening statement: most companies act as if can see the future, but the case seems to be wandering in the dark. It is easy to say that you expect results of your actions.But in reality, no one is capable of this.
The surest tactic is to aggressively adapt to a constantly changing business environment in an attempt to understand its principles and learn to use them for good. You need to concentrate on the basic principles, but also follow the latest trends. It is not easy, but in the long run can be a very exciting adventure.