top business trends

7 Business Trends You Should Know Before Even Starting Your Business

There are millions of people around the world that are not fond of 9 to 5 Jobs. After completing their studies, they tend to start their own businesses. It is because they want to do justice with the talent they are gifted with, follow new business trends, provide job opportunities to others and earn lots of money.

Key Business Sectors & Profitability Index

Business Sectors Profitability Index
IT and software development 67%
Advertising, PR-services, and media 71%
National and International Trade 78%
Finance, Insurance & Banking 71%
Business services 63%
On-Demand Food Industry 60%
Pharmaceuticals and medicine 29%
Others 59%

One must always keep in mind that the business world is already full of small and big players. Several new start-up companies surface in the business world almost every week or month. So, before starting a new business, every entrepreneur needs to know the latest business trends. Do you know the main business trends that are in practice these days? If not, then read this article to enrich your knowledge and take a solid decision accordingly.

1. Rapidly Increasing Demand for Personalized Websites

increasing demand of websites

Today’s highly knowledgeable, modern and tech-savvy people explore a wide range of products/services on the global internet. So, you can’t get the desired success if your business doesn’t have a solid online presence. With a website, E-commerce portal, business site, and blog, you can easily reach out the targeted audience and cultivate multiple business opportunities.
Even if you have a professional and eye-catching website, there is no guarantee that visitors will deal with your brand for a long period of time. Today, visitors demand for personalized websites. So, it becomes necessary for you to contact an expert IT company and get a professional, eye-catching, and feature-rich website keeping the personalization needs of visitors in mind.

2. Artificial Intelligence Has Entered in Mainstream Business Areas

Mainstream Business Areas

It seems that the evolution from the brain to artificial intelligence is more radical than from monkey to person. In fact, artificial intelligence is a broad concept from the business point of view. It includes several factors, such as machine learning, computer vision, forecasting, etc. Because of its ability to process data faster and more successfully than the human brain, all major business firms are using AI.

It is because Artificial Intelligence can drastically change the face of businesses. Big companies like Google, Apple, Amazon, Uber, Starbucks- all use AI to easily address the needs of a large number of customers.

AI helps them to cut costs, increase profits and improve productivity up to a great extent. As per Facebook, more than 10,000 companies are developing chatbots. It is estimated that the use of chatbots in the medical and financial sector can help companies save up to $20 million per year and $8 billion by 2022.

3. Business Automation is in Full Flow

All business organisations always tend to reduce the operational cost and increase the profitability. For them, business automation is very helpful. In fact, business automation is a process in which companies use robots, AI, different internet technologies to replace the non-performing staff and make human labour more effective. See some examples of business Automation:

Manual Business Practices Effects Business Automation practices Advantages
Waiters taking orders from customers and processing their payments. It takes a lot of time and only a few customers are served perfectly. The Use of robots take orders and process payments in hotels and restaurants Easy handling of customer’s request and their 100% satisfaction.
Manual Accounting and invoicing It takes a lot of time and chances of mistakes are always higher. Automated accounting and billing with the help of on-demand apps and Robots. Error-free billing and accounting.

4. The Rapidly Increasing Use of Cryptocurrencies

These days, major business firms, financial organizations, business tycoons are crazy about different Cryptocurrencies. In simple words, Cryptocurrency is a new generation of virtual money. It is a worthy competitor to the fiat money (state currencies). It is believed that the increasing use of different cryptocurrencies will completely supersede general currencies from electronic payments.

As the cost of using the fiat money is influenced by government decisions, the economies of countries, and international trade, individuals are rapidly turning to cryptocurrencies. This enables them to make numerous financial transactions anonymously and without the involvement of different government and financial institutions. Just see the major advantages and disadvantages of using cryptocurrencies-

Advantages Disadvantages
Accessible to All on the Global Internet Absence of a central regulator
24*7/365 days Earning opportunities Impossible to recover the money paid through an erroneous payment.
No lengthy Taxation High risk of bankruptcy in crypto-instruments.
Minimal fees for making transactions All cryptocurrencies are highly volatile.
Used Globally. (Some countries don’t recognize the use of cryptocurrencies. So, study the local laws before using cryptocurrencies in your business activities)

5. Increased Use of Machine Learning in Different Business Areas

Machine Learning in Different Business Areas

Machine learning is a set of mathematical methods which enable to solve complex problems easily by using common algorithms. In Simple language, machine learning is a method to analyse the large data in one go. With its help, computers can be programmed to identify certain patterns and perform certain duties. For example- identifying defective items on the conveyor, segmenting potentially high-yield customers, etc.

The algorithms of machine learning are universal and not tied to a particular business. A number of business activities can easily be performed with the help of machine learning, such as analysis of traffic flow in the city, recognition of speech, the possibility of a slab defect in the ferrous metallurgy, etc. See the use of machine learning in different business activities:

Industries The use of machine learning
Asset Management in the Securities Market 47%
Large data analytics 46.40%
Risk Management 37.50%
Cybersecurity 35.10%
Optimization of the sales system 30.40%
Credit scoring 28.60%
Optimization of pricing policy 26.80%

6. Hassle-Free banking is Essential for Business Development

Hassle-Free banking

Hassle-free banking services are the foundation of successful business organizations. These days, companies make deals in B2B, B2C and other business formats. So, they don’t have sufficient time for getting involved in manual banking activities. Today’s young generation wants to avail almost all banking services at his/her fingertips.

So, the banking sector is updating itself gradually. Different banking activities- issuing ATM cards, approvals of loans, fund transfers, maintenance of bank account, operations with foreign currency, etc have become easier and comfortable. Therefore, as a business owner, you need to get acquainted with all new developments in the banking sector.

7. Special Emphasis on Small Business Cross-Channel Marketing

These days, business organizations don’t want to bank on a single supplier to meet different needs. So, the scope of cross-channel strategic advertising is increasing with each passing day. Big business organizations have separate vendors for website promotion, transportation and logistics, banking, etc. It enables them to bargain and make business deals on reasonable terms and conditions.

Concluding Remarks

A good number of folks want to set up their business ventures to serve a large number of customers and mint money in an easy way. They must keep the latest business trends in mind to get the long-awaited success in the business they start.

7 Practical Tips for Marketing a B2B Startup in 2017

Marketing is very crucial and one of the most challenging task for a B2B startup. There are specific challenges for B2B startups unlike those of B2C companies.

The allure of B2B startup launching is easy to understand. However, marketing step for the startup is indeed a challenge in the present competitive commercial economy which is why b2b marketing services are helping startups to provide them insight of the current market.

While handling the B2B startup you might see notoriously not as much of traffic and inbound leads. So, here I am presenting you the breakdown of marketing tips and tactics. Let’s get started.

Identify your Target Customers

Identify your Target Customers

The success in market strategies heavily relies on the ability to identify your right customers, their desires and how to communicate with them. So, in a nutshell, we can say that how, when and why are important. You’ve to link with your market on those platforms they use, with good timing and always try to add values via educational content.

In order to identify your target audience, you have to first make an ideal customer profile. This profile must have age, gender, income level, and location. Then, go for a marketing research which includes surveys, interviews and focus groups. This research will provide you sufficient data to assemble your initial customer profile.

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Set up a Blog

Set up a Blog

For efficient communication with the right crowd, you need to establish a blog. A blog is easy to set up. It is just a simple as to download the right software setup and go along with it. WordPress is an ideal platform for blogging. It is very easy to start blogging with WordPress. Just make sure to use a responsive theme, couple of plugins and tools. And you’re good to go after that.

Make the Website right and Visible

Make the Website SEO-Friendly

Now, here creating an SEO powered website can be considered as a decent start. Your website should be optimized for what your prospects might search you for. I recommend keeping your site minimal and clean. Make it cleverly simplified, yet provide every information as possible. In order to achieve that you should go for less text and more graphics.

Now, website construction is done, now you should promote your website. To promote your website you should opt for a weekly blog post at least. For this, you should hire a team of your domain expert and either a bunch of in-house writers or freelance writers. This team can produce sufficient content for an effective website and blog. After the creation of content, you should know how to promote it. You can promote and reconfigure them in loads of social media platforms as well. “Once you got the foundation in place, it is time to promote it”.

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Form a Partnership

B2B Partnership

This can be a huge decision for your startup business. You just have to make sure that you collaborated with an established company. It is advised, before agreeing, attend a startup technology conference. Attending technology conferences lead you to many potential customers. You can also increase your network by being a guest speaker at such conferences. This can give a huge quantum leap to your B2B startup.

Start Investing in Social Media and Videos

Social Media and Videos

Investment on informational short videos can empower your website. You can include social impact, use-cases, and product demos. After this promote them organically on Facebook, Twitter, LinkedIn, and YouTube. If you want you can also feature the videos in your blog, you can link it either in the email signature or use it in mailing campaigns.

Try your best to create on small explanatory video every week or in 10 days at least. This can be even more effective than the webinars itself. Try to limit the video to 90 seconds. It is to be believed that these videos can be created with an average of $500 investment.

In order to get more traffic, you can also opt for paid exposure.

#LinkedIn Campaigns- You can promote content via targeted advertisement campaigns.

#Google Ads- You can identify popular keywords by Google Trends and design campaigns.

The results will be effective and sweet if you integrate Google Ads and LinkedIn ads with their promotion of videos, blogs and social media posting.

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Setting up Email Marketing Campaigns

Setting up Email Marketing Campaign

Try and ask for a golden nugget for an effective B2B digital marketing strategy, at least 91% of them will recommend you for email campaigns. Via machine learning and by employing Artificial Intelligence (AI) you should try to identify your prospects buyers. Never implement account-based mailing campaigns without contextual messaging. I personally recommend not to mass mail in order to avoid the spammy behavior. Take a sustainable approach.

A combination of persona and intent-driven campaigns is an ideal emailing marketing. It is advised to send well-designed messages instead of full-on text content to the customers. It is better to spread tailored messages that have potential to develop results rather than sending boring text content with nothing new end knowledge.

This behavior and intent driven campaign will certainly increase your performance in email campaigning.

Now, just an FYI (For your Information), in order to achieve success via above-mentioned methods, you must know a lot of things about your customer. You should know about his buying behavior, interest, and priorities. You can use data mining in order to get all these significant details about your customer.

This brings us to our next point which is,

Engage with your Business Influencers and Community

Engage with your Business Influencers

Every domain of the Industry have some movers which are experts in terms of creating thought leadership and educational content. Now, the buyer likes to read from Venturebeat or Martech Site and also corporate blogs of brands like Marketo, Salesforce etc.

Most of this influencer share useful content on regular basis. This content can be of many types such as tips, tricks, blogs and articles. All you have to do is identify the perspective web site which covers audience similar to yours. Then share articles and another type of content in order to secure publishing spot for mentioning your products, backlinks to your blogs and websites. The only key here is that how efficiently you choose the influencer. The efficiency depends on how often your target audience engages with such platform.

Tips and Key Learning for Magnate (aka Entrepreneurs)

1. You can globalise your B2B start-up from Day-One via Digital Marketing.
2. Always Leverage Social Media data and platform. Also embracing Educational content is very beneficial.
3. Engaging in contextual messaging is immensely helpful. Try avoiding spammy push type broadcast messages.
4. Some of the feel-good factors are High Traffic of Shares, Views, Downloads, & Likes. These are measurable to get sales lead, repeated business or revenue and profitability.
5. Consistency is the key to success. Having fun is no harm in a B2B startup, but remember the first line as well.

So, these are the Tips that can excel your B2B startup business. What do you think about these points? Do share the feedback via comments. I would love to know if you’ve got some other new ideas. Be open and comment, I just love them. Till then have a good one!