A guide to help your business grow in 2021 and beyond.
2020 has been a very strange year, covid 19 has seen the world grind to a halt. This brought about a high level of uncertainty for everybody, but especially businesses and business owners. From shop closures, to restricted access, to furlough 2020 has caused a big change for businesses and entrepreneurs. About 11,000 outlets shut in the first half of 2020, twice as many as in same period the year before.
Brands have worked tirelessly trying to keep up with the sudden changes that 2020 has brought, but because covid was so sudden and such big change businesses were always reacting and playing catch up, that needs to change. In order to survive business owners will have to be pro-active, it will be so important to get ahead of the curve and make sure your business will be able to evolve and fit the new world.
We will be discussing some of the main issues businesses will face in 2021. We will be dissecting these issues and trying to provide solutions that will help you to make the most out of your resources.
Going Digital
There has been a feeling that the “high street dying out” for years and with the covid outbreak, this has heightened. Collection only, early closing times and the publics growing technology obsession are ways traditional shops are being affected, this shows why it is so important to create your brands’ digital presences and create brand authority online.
Skipping the middleman (direct to consumer)
With the rise in technology, customers are able to access a much larger variety of companies. This has lead to the increase of businesses marketing and selling straight to the customer, offering them a cheaper price and making more profit. Companies will either have to beat them by offering a better and wider service or they will have to join them.
Innovative in-store experiences
Traditional shops are under attack by the internet, online shopping is going in an upwards trajectory, to survive brands will need to adapt and change their USP. Another trend is people buying experiences and activities instead of gifts if companies can combine the two they will be able to add a new niche that digital stores will not be able to compete with.
Focus on growth and long term wins
2020 has given a lot of people time for reflection and also put some businesses in a discouraging position. It is not time to worry about numbers, it is time to build your brand. Marketing and branding will be key areas in keeping a business growing and by utilising the newest technologies you can capture your target audience in an innovative way.
A Living social media identity
Social media is so much more than just posting pretty pictures or writing funny tweets. It is one of the most effective ways to increase your brand identity, it is your voice to your customers. Customers no longer are attracted only by overt, loud, in your face sales techniques, customers are attracted to a brands values and if they can relate to them. Social media marketing is a great way to connect with them, using covert techniques, like entertainment or informative videos, brands are able to communicate with their audience by showing off their personality.
Add variety in your delivery
The business world has been disrupted to lengths never imagined and industries status quo on how they do business. Restaurants are having to deliver, shops are doing click and collect and everybody is on zoom. No longer can businesses sell on a single front and be able to compete in this market.
Create a global presence
The term “the world is your oyster” is becoming more and more true, the internet has opened up the business world to the highest number of customers ever. It will be important in business growth to utilise this reach, but more importantly, is to find your target audience in that new region you would like to explore. As the market is so saturated it is easy to get lost in it, so using effective marketing strategy you are able to stand out to your new target audience.
Automation and Ai
The robots are coming, no they are already here. The trend towards AI is only increasing, from self-service tills to driverless trains, to chatbots. It will be important in the future-proofing of a business to employ some of these technologies to keep running economically and efficiently. The future for AI is vast and the capabilities will be evolutionary. Businesses must stay ahead of the curve.
Stand out in a saturated marketplace
It is good that you have found this blog and are ready to future proof your business, the only problem is millions of competitors would like to do the same things. So what is as important now as it has ever been, is standing out from your competition. By building your brand, developing its identity and working on innovative marketing you can help your brand stand out and amplify your USP.
At Adrastichyperlink we have no doubt 2021 will be a challenging year for many reasons, but in particular for the survival of many businesses. We would like to help, our main goal is to help brands solve business solutions with design. Over the next coming months, we will be exploring these different areas in much more detail and finding some techniques and solutions so that we can have the most successful 2021 possible.
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