Due to this COVID 19 pandemic situation, all business, industries and also employers/employees affected terribly. To control this all business exclusively small sector has to adapt and make use of various trends and technology to run their business productively.
Now, let us see the in-depth about various future trends which are going to support the small sector business.
- The new way of working:
Before this situation, companies have not preferred this remote working style. But recently, all employees directed to do work from home (i.e., remote working) by the company. It is one of the top preferred and booming trends in 2020. Remote work is nothing, but the person works from their places instead of working in an office environment.
This method helps them to hire a more talented person from worldwide and run it effectively. Maybe after this COVID situation, we may expect many companies to follow this remote work method.
- Gig Economy:
In recent years, the Gig economy is rapidly increasing in India and also globally. Gig economy plays a vital role in helping the companies to hire the right person for their right project during their critical situation.
It is basically about hiring a talented freelancer instead of hiring permanent employees. Gig economy creates more flexibility and opportunity for individuals to express their talent and skills in various sectors.
- Artificial Intelligence did not work for customer experience:
Many companies try to replace robots instead of human workers for work. Robots are essential for work, but they did not complete all sorts of work. It should be there for supporting the workers in any technical issue. For a small sort of business sector, AI will be useful to do their work smarter and technically.
- Rescue bots
Bots are one of the methods that come under Artificial intelligence. Currently, many people started to experience and try to solve the issue through virtual channels. In recent years, many channels are there for customers to seek out the way to solve the problem/issue. The two essential bots are to be there on the business channel (i.e., chatbot and video bot). This method succours both businesses in the way of retaining customer support and customer in the ways of getting a solution for the queries.
- Focus on Customized Customer service
Every customer is a king for a business. To run a business effectively, they have to satisfy the needs of the customer through customized service. One of the best-customized customer service company is Amazon.
- Employee wellness considered by business premises
It is predominant for business to consider employee wellness, health not only now but also after this pandemic situation. Remote work also has some disadvantages for employees (i.e., mental illness due to no social gathering etc.) It is essential to have healthy employees for their organization, and also they have to control the mental illness by not pressuring on work.
- Marketing through digitally
Recently, digital marketing becomes so viral. Now small business started to step towards to market digitally through social media. Social media is one of the fastest and easiest ways of promoting things. This marketing aids the business premises to attract many customers accordingly through segment-wise and make them buy their product or service.
- Investing in good reviews
Reviews are recently becoming more attractive, which comes under the digital marketing concept. Today’s recent trend of the customer is to search various person reviews before buying something from the online. A review always helps the business to run productively. In upcoming years, many businesses will start to invest in getting an ethical review about business while providing products.
- Promoting business through stories
Earlier, news or information about the business was popular among customers. But recently, stories are becoming so trend it includes a video about the brand or product through social media. Stories are rapidly growing 15times better than newsfeed or information. These stories make the business to connect with customers.
- Future trend of voice recognition
Already we all know about successful voice recognition speakers Alexa and Google Home. These voice speakers are helping the person while driving a car etc. In the upcoming years, voice speakers will become effective for the small business sector to put the online content through voice process.
- Data process for business
Usually, big data are used only by enterprises to improve their business strategy and to know about the competitors. But, small business needs to adapt to the data processor for their premises to analyze customer, competitor etc. The most important part is, the business premises has to use these data carefully because there are more altercations in that. There are more limitations on how to store and what kind of data to be collected etc.
In this pandemic situation, there is an enormous demand for speeding up the internet and bandwidths because of online education and other purposes. During 2019, the launch of 5G is not much interested but, in 2020 the demand for speed has been increased. Many mobile phone companies are planning to launch a new model with 5G internet in 2020. This 5G helps the small business to interact with customer and able to do things faster.
These are the 12 trends to be taken in 2020 by the small business to run it successfully.