2020 has been quite a year so far. We’re just about halfway through, but a lot has happened that has completely changed the game for businesses worldwide. One of the most significant changes is something that many organizations weren’t able to foresee: the coronavirus and adapting to the new normal.
Businesses all over the world now rewrite their business plans and strategies to adapt to the current condition of the corporate landscape. You’re also trying to shift your operations digitally in case the pandemic happens again in the future. While you’re at it, you might also want to start creating strategies and tactics to adapt to these business trends we can expect to see this year.
Quarantine entrepreneurs
During the lockdown period, when people were not allowed to leave their homes, we have seen a surge of quarantine entrepreneurs. These refer to individuals who have created start-ups to generate a new source of income during the pandemic.
We have seen rapid growth in the number of small businesses over the last few months, with people now selling things online, such as pastries, emergency LED light bars for trucks and other equipment, indoor plants, and so much more. It’s expected that this “quarantine entrepreneurship” will continue this year, with more people starting to adapt to the new normal.
Remote work
In recent years, there’s been a trend in remote working. Many employees have preferred looking for online jobs instead of office-based ones since these are more convenient and easier for them. No longer do they have to survive long commutes and daily rush hour traffic. That’s a perk in itself. Not to mention that they will be able to save $2,000 to $7,000 a year working from home. Still, businesses required their workers to report to the office.
But because of the pandemic, businesses have been forced to resume their operations with their employees working from home. And now that office-based workers have experienced the comfort of remote work, it’s foreseen that the demand for it will rise in the new normal.
Digital marketing
Time and time again, business owners have heard of the importance of digital marketing. They need to adapt to the demands of the modern era, which, in this case, involves utilizing technology and the Internet. But greater importance has been put on digital marketing, thanks to the pandemic.
We’ve seen how physical stores have lost a hefty amount of profit since the community quarantine. Businesses realize that having an online presence is crucial to their existence in this day and age. Investing in digital marketing is now more of a necessity than an option.
Shifts in social media trends
Marketing on social media sites like Facebook and Instagram is old news. But what’s incredible is the shifts in social media trends that businesses have to adapt to. Now, organic posts on your business’s page are no longer enough. Instead, you should be putting your ads on your Stories. The Stories feature, found on Facebook and Instagram, is a platform where users can post photos and videos that will last only for 24 hours.
Some brands have begun marketing their products in this manner and have driven their sales up by 500% and beyond. Statistics show that Stories are projected to grow 15 times faster than the conventional news feed. So you may want to start rewriting your marketing plan.
Staying in trend and on top of consumer demands will help your business stay competitive in your niche. Prepare to adapt to the changes in the corporate landscape today, and you’ll reap the benefits when they happen.