4 Emerging Business Trends To Leverage This Year
COVID-19 disrupted the workflow of many businesses. A good number of successful companies had to seek innovative ways to meet growing consumer demands and ensure the sustainability of their businesses. Despite the setbacks, the business world is constantly evolving with no signs of slowing down. We’ve seen the emergence of intelligent business trends this year, and many companies are now thriving even better by staying ahead of market trends. If you’re curious what these emerging business trends are, continue reading.
1. Technology Advancement
The COVID-19 pandemic acted as an eye-opener to businesses seeing the importance of electronic access control. The use of electronic access control (EAC) credentials has brought innovations to the access industry. Some companies now make use of smartphone technology in place of a smartcard to authenticate identity. Keep in mind that a smartcard can stop functioning if the magnetic card stripe gets damaged.
Historically, access control usually functioned using a mechanical key and mechanical lock. Some companies also use door position sensors, alarm sensors, and face recognition for standard security. Most businesses now use chatbots for rendering effective customer services.
2. Cryptocurrency Investing
Cryptocurrency has been in existence since 2009. The central bank doesn’t issue cryptocurrencies, and they don’t exist in physical form but instead as fiat currency. The cryptocurrency market has a trade history of Bitcoin with a market cap value of 50 percent. Before venturing into this market, it’ll be wise to conduct sufficient research and develop some risk management strategies. Some of the common cryptocurrencies today include Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Each cryptocurrency has its digital crypto wallet through which people make payments.
Remember that you can convert digital currency to cash through a crypto platform. A simple way to pay for goods and services is through the different wallet transaction types instead of a bank account. For international businesses that operate remotely, paying your employees in different parts of the continent can be stressful and time-consuming. In contrast, a transaction with cryptocurrency saves you the hassle. The exact process also applies to traders and consumers who buy and sell online or physically.
Keep in mind that crypto transactions are instant and cost little to nothing for transaction fees. People can also trade digital currencies on cryptocurrency trading platforms. Cryptocurrency trading involves speculating different digital currency price movements. When trading on a cryptocurrency platform like Coinbase Pro, consider setting the limit order to a transaction amount you prefer. A beginner to cryptocurrency investment would prefer the simplicity of the Coinbase vs Coinbase Pro. Unlike Coinbase, which limits your trading amount based on your region and payment method, Coinbase Pro has unlimited trading. Also, it allows you to stop any order and withdraw no matter your location.
3. Social Media Marketing
The COVID-19 pandemic made a lot of people bored and jobless at home, making most people spend a lot of their time on different social media apps. People held challenges and showcased cooking abilities and even day-to-day activities on these apps. Not a surprise these app companies recorded a massive increase in their annual revenue. During the pandemic, many brick-and-mortar stores started using social media apps to market their products, which was highly productive for some. Despite sellers being back to their shops, social media marketing continues to thrive and make headway.
4. Influencer Marketing
Many physical and online retail stores began leveraging influencer marketing to enhance their brand visibility. These influencers could be celebrities or people with a wide following on notable social media networks like TikTok, Twitter, and Instagram. It’s expected that this trend will continue to rise, so you should consider making the right choice today and explore various online marketing techniques.