Tech trends such as Artificial Intelligence, social payments, big data, IoV, and video marketing are going to drive business growth in 2020.
Technology has already been a leading disruptor in the industry. Modern tech has reshaped how businesses operate and perform. Interestingly, whenever a new tech trend emerges, businesses are forced to adopt the trend quickly, or else they would be falling behind.
It’s pretty obvious technology has a critical role to play in the growth of a business and reaching out to customers. In this new decade, these are the trends that are helping small business owners grow:
1: Big Data
There is no doubt data is creating new opportunities for growth for businesses. Big data has a great role to play in filtering, managing, analyzing rows of information. Big data is now serving the services and eCommerce industries too with tools such as Cloudera, R-Programming, Hadoop, and OpenRefine.
These tools are perfect for analyzing customer database and improving business by looking for new growth opportunities.
2: Social Payment
Social shopping is the new normal. A study by Sprout says that 75% of users have bought something after seeing it on their social media feed. Adding social payment to your social media page for instant checkout hence makes sense. Trends like these have made it easier to sell products and services online. It would even work for a business selling IT staffing services. You just need to figure out how.
3: IoV (Internet of Voice)
Internet of Voice is the tech trend that is in the buzz. It refers to surfing the Internet using your voice commanding smart devices to perform an action. IoV is widely used in homes as well as in vehicles to perform actions.
These are some effects of IoV that businesses must take into consideration:
- Customers want to get answers without having to put much effort
- Most search queries are made without a screen
- Users seek for single and concrete answers when they perform voice searches
- users are also using voice commands to make purchases
The question is, is your business optimized for voice queries? If not, it’s high time you optimize your site’s content for voice search queries.
4: A rise in Video Marketing
Whether you are a small business or a large company, there’s so much saturation in the market that every business is fighting for exposure on the internet. A decade ago, advertising was limited to newspaper ads, TV sets, and radio. Now, customers perform thorough research on the Internet before they purchase a product or service. You can’t play hide and seek with the features of your product anymore.
Customers still like to see commercials but they must be interactive and engaging. Facebook, Twitter, and YouTube have opened new horizons for video marketing. Live video streams have become a popular way of marketing your products. Customers interact with your product or service through likes and comments.
5: Predictive Business Analysis
Predictive analytics uses techniques like artificial intelligence, machine learning, data mining, and modeling to anticipate customer behavior and outcome based on data. It also helps automate complex decisions and tradeoffs for making predictions.
Services like Facebook Pixel, Google AdWords, and Google Analytics are capable of tracking everything that’s happening on a website. These tools generate meaningful information making it easier to react to a situation. Tools like these let a business predict market trends, visitor interaction, and behavior to optimize business efficiency.
6: Artificial Intelligence
In 2020, expect great things from Artificial Intelligence. Improved natural language processing, data analysis as well as automation are in the pipeline. Another innovation is knowledge graphs that will help prepare and model data to make decision making easier. The use of Artificial Intelligence in business is limitless. This technology will affect all aspects of a business.
5G is the latest industrial revolution of speed and new capabilities. Some carriers have rolled out 5G already while others are working on it.
Businesses should anticipate new solutions possible with the help of this new high-speed connectivity. 5G was built with IoT sensors and small businesses can leverage those by optimizing their workflow using automation. Using motion detectors in stores, CCTV cameras, and other tracking devices in delivery vehicles are some examples.
The digital economy is on the rise and so are the online threats. Cybercrimes are progressing at the same pace and which technology is progressing. This issue has led to increased awareness of cybersecurity best practices for small as all well as large businesses.
Hackers could be adopting smart brute-force attacks. This year, we might see cryptographic attacks by using advanced pattern recognition capabilities. Therefore, to ensure the business and customers stay protected, every organization even if it’s the engineering staffing agencies must invest in cybersecurity and adopt the advanced for ultimate protection.
With these trends on the rise, it’s worth sitting down and considering which of these are in harmony with your business and how to adopt them.