24 September 2015
What will business look like in 2016?
The most dangerous business practice is to resist change. The environment is constantly learning, reacting and developing. For any business to successfully meet the needs of their consumers, they need to have a clear understanding of how their needs are changing. Because they are changing and they’re doing it all the time.
What are some of the major changes to business and the market in 2015? Let’s take a look.
It’s becoming increasingly important for all businesses, big and small, to communicate clearly with their customers. The increased ease with which we are able to communicate has made it easier for consumers to find faults in business practice. Rather than fight this, its best for companies to embrace increased transparency. When done well, it encourages consumers to invest themselves into your company.
One common misconception is that a complex business is a successful business. As more data and more resources become available to business owners, a simple structure that deals with information efficiently is becoming more and more important. Simple business structures allow its employees to know where they stand and how their effort can be best utilised. It also leads to a clearer brand image, which will help your consumer understand ho they can relate themselves to your brand.
The most reliable aspect of business is change. Established methods can become outdated and consumer tastes and behaviours aren’t constant. It’s important to remember that you will never be able to predict consumer behaviour with complete accuracy. Instead, you need to establish dynamic business practices that are able to respond to consumer behaviour as quickly and effectively as possible.
Global to Personal
The shift from the global to the personal is a change that favours small business. People want content, products and services that are attentive to them as individuals. Small business have an advantage over large corporations because they are able to connect with their consumers person-to-person. This gives your client a more valuable experience and increases their loyalty.
The Age Of The Small
In boarder terms, we’re seeing a change away from the wide-ranging businesses that we’re used to. The reach of large companies is being broken down and splintering into smaller segments that fit the needs of consumers more accurately. This means that small business offer a better fit for consumers, but only on the condition that they are being responsive to their customers. Your biggest strength as a small business is your ability to be attentive to your customers.
Keep up with change, be aware of your consumers need and you can take your business into 2016 with pride and certainty.