It is very important for businesses to adapt to their market, but also to update their technology and business operations according to what the competitors are doing. Indeed, most industries are in such competitive environments nowadays that not keeping up with the current technologies, trends and innovative business models might put you out of business.
New tools, apps, platforms and other kind of technologies allowing businesses to improve on their day-to-day operations by advertising more efficiently or saving more money for instance are created almost everyday, and keeping up with all of them might be a little challenging, however, knowing what will become popular on the market remain important if you would like to stay ahead of your competitors.
In this article, we are going to look at the different trends that will arise or increase in 2018, and what you can do to implement them to your business.
The great success of Pokemon Go in 2016 was synonymous with a rise in AR technology and a better understanding of said technology by a larger audience. More people now embracing AR technology means that there will be new and innovative ways to market and promote products.
This sort of AR technology will most likely be implemented in the future in different ways that will improve the users experiences and allow them to be in more immersive and engaging environments. For instance, some stores already started to develop applications using Virtual Reality which allows users to virtually visit and shop in their store to get them familiar with the real ones.
Immersive content of this kind is currently sought after in the market, and users typically enjoy being in more engaging environments while using cutting-edge technology.
Thinking about integrating virtual or augmented reality technology to your international business processes can therefore allow for visitors and potential shoppers overseas to still experience your store and remotely shop there while using AR technology.
For global companies, having a remote workforce is a trend that has been gaining popularity in recent years.
Given the improvements when it comes to technology, connectivity and people’s ability to communicate thanks to the internet with video or conference calls, it has become way easier for people to work with people who are on completely different continents than they are.
For small businesses specifically, this allows them to have access to a higher number of talented people to work with, especially since they do not have to pay tax returns for the people who work in other countries.
Furthermore, platforms for freelancers on the internet are on the rise because of the skilled people interested in getting online jobs. For small businesses looking for skilled and experienced yet affordable workforce, this can only be done by hiring people overseas and having them work remotely.
Websites like Freelancer.com are known to facilitate these kind of working relationships and allow small business owners to hire freelancers regardless of their geographical locations.
Hiring skilled and experienced people to work with is one of the issues that small business owners face quite frequently. If you want your business to expand, it will be important for you to hire capable and efficient people, but doing so can be very expensive, especially when it comes to training them and getting them accustomed to the different software and other things needed for your business to run properly.
When it comes to the current trends in the world of international business, you can hire employees who are ready to learn, and use different eLearning solutions that will help you train your staff in efficient, effective and time saving ways.
eLearning has been getting so much popularity can be explained by the fact that it gives its course attendants way more flexibility when it comes to attendance. They also have more choices when it comes to how they want to approach the lessons, which will allow them to choose a learning style that corresponds to them, and that allows them to learn better and quicker.
The highly competitive environment most industries are in today has resulted in companies looking for ways to not only save money, but also to increase their productivity and be more efficient. In many countries, companies have used robots as a way to boost productivity and create products at a faster pace. Countries like China, for instance, have embraced robotics and its technology as a way to better manage workers wages.
While using robots as a part of your business operation process is still expensive in many industries, the use of these robots to improve productivity will keep increasing, and we would recommend for you to keep an eye out on this trend if you’d like to be more competitive in the future.
Crowdfunding has become a very popular trend in the world of international business over recent years. While Kickstarter used to be the only platform on which it was possible to get a project funded, regardless of the nature of said project, there are now several platforms online with a similar purpose, which is beneficial for you since you have options.
The benefit of crowdfunding lies in the fact that it allows for the consumers themselves to decide whether or not a product, service or platform is worth investing in, which not only give founders insight on whether or not their idea is sound but also an opportunity for those with less capital to still create the product or service they want to without getting into debt or having to get loans in order to do it.
It is not rare or uncommon to find entire companies in the outsourcing business today. Indeed, instead of hiring someone to do your tax returns or any kind of administrative work, it is now possible to outsource these kind of tasks to companies with the expertise, knowledge and tools to do these tasks probably better than you ever could.
This can help you save money that you would have used to hire new employees or buy new softwares to complete these tasks. Services such as graphic and web design, photography and photo editing and even content writing is commonly outsourced and done for companies by other specialized firms.
As outsourcing becomes the norm in the international business market, understanding its benefits and advantages could be a positive thing for your business especially if you are looking to cut costs and save money.
Live Video Ads
It is now possible to live stream videos on social media, which allows you to engage in real time with your audience. Companies therefore can advertise in a way that gives users an in-the-moment experience, making them feel more present and included. An additional advantage to streaming live videos is the ability to have Q&A videos allowing the viewers to participate, ask questions and help the brand ambassadors engage better with their users, which improves brand loyalty and ultimately the profits of the company.
While there are many other trends that are currently changing the face of international business and that will do it even more in the future, we believe that these trends will significantly change the ways in which business is being done globally. Integrating these to your own business processes can therefore put you ahead of the competition and allow you to get a more significant share of the market.