5 Trends Creating Big Opportunities
for Entrepreneurs
From AI to new payment-system
approaches, these tactics can work across a broad range of companies and
business models.
April 26, 2017
If you want to stay ahead of your
competitors, you must constantly search for innovations to grow your
business even more. It's
always a good thing to start testing ideas. There's just one problem: Many of
these new technologies will flop, costing you time and money.
When something works,
though, you'll gain the unfair advantage of being the leader -- the first
-- in your industry. What if you could skip through the noise, learn
what's working for companies in different industries, and implement those
tactics in your business?
These five trends might not all work
for you, but they're definitely worth a look. They're trending now, which means
you should consider adding them to your toolkit before they become standard
operating procedure and you're the one left behind.
1. Facebook bots.
This is the hottest topic in the
industry right now. Facebook bots are becoming more popular,
especially now that we've entered the era of artificial intelligence. Many
companies have incorporated some form of Facebook bots in their processes.
Others focus the bots' capabilities on their email lists, though I would
question the wisdom of such a move in many cases.
DigitalMarketer CEO Ryan
Deiss predicted Facebook bots will be the industry trend in 2017, ramping
up to compete with email. The best part:
It's become easier for people to develop sophisticated bots without the
need to code. ChatMatic, Chattypeople and ManyChat all are doing great work in
this area, and I expect more competitors to enter the market in the near
future.
2. Business texting.
Business texting made a big splash
years ago, but it faded. New technologies have fueled its strong return.
The average person carries his or her phone 90 percent of the time. And people
respond more readily to texts than calls.
If you want to keep connected with
customers and get higher response rates, consider making business texting part
of your strategy -- even if it's a small portion to start. Text
Request and other services make it easy to
launch and test your messages.
3. Smart segmenting.
Your customers don't want to receive
the same message everyone else does. They want specific, highly tailored
messages that speak to their experiences and needs. You need to build your
business on that demand.
Quizzes and gamified info-gathering
content will get you only so far. It's what happens next that matters. Show
your potential customers how you're working to learn about them and their
challenges. Segmenting involves a lot of moving parts, so it's best to start
learning now about this powerful technique.
One service provider
is creating a program to help make it easier. So far, it's available
only by invitation.
4. Recurring revenue.
Netflix's success has other leaders
rethinking their approach. Instead of offering a product or service at a
larger, one-time fee, many business owners are seeing the benefits of swtiching
to a smaller, monthly fee. Recurring revenue is an asset that can drive your
growth for years to come.
5. Video.
Videos seemed to enter a bit of
a dormant state when podcasts took off, but Facebook Live, Instagram
Stories and Snapchat are swinging the balance back. Savvy, cost-conscious
marketers can do a great deal without an overly fancy setup. If you're thinking
long-term, you'll need to invest in a few decent tools to make your videos
polished and professional-looking.
Trends exist because of increased
demand, and that means new opportunities for enterprising business owners. Do a
bit of research to decide which of these five options makes the most sense for
your business. Then take action to put them into use and track your results.
That's how you stay ahead of the curve -- and your competition.
