Skip to content. | Skip to navigation

Personal tools
Sections
You are here: Home Focus Top Business Trends to Watch in 2020

Top Business Trends to Watch in 2020

The first six months of 2020 hasn't been the best for businesses, understandably due to the Covid-19 pandemic. However, many countries are flattening their infection curves, meaning the corporate atmosphere is on the verge of recovery.

Business trends - Image by Photo Mix on Pixabay

If you run a business, keeping up with these 2020 trends will help you remain relevant and go one better than your rivals amidst the crisis:

1. Data-based marketing will continue to thrive

Analytics used to be a big-tech-company marketing thing, but that's not the case anymore. Analytics tools such as customer relationship management (CRM) software have been made commonplace, and even the smallest businesses can use customer data to plan their marketing strategies. If you are still using the trial-and-error approach to set up your campaigns, this is the best time to start basing your decisions on data.

2. More businesses will start using mobile apps.

The increased prevalence of smartphone use has led many businesses to develop mobile apps to communicate with their customers and prospects. A mobile app can be used to share marketing content and inform existing customers of the availability of new products.

When developing a mobile app, make sure to involve an expert or a company like Goodcore that has experience handling similar projects. An app is a huge investment that calls for top-level development expertise.

3. Chatbots will continue being a core part of customer support.

Chatbots are high on the rise. Virtually all service websites are using this revolutionary technology to complement their support teams. Chatbots use artificial intelligence to monitor user activity and come up with answers and solutions to common queries.

The trend is here to stay if you think you can bluff through it. Chatbots not only improve user experience on a business's website but also free up customer service agents to address more important issues.

4. Marketing will be automated.

Preparing a digital marketing strategy is no child's play. You have to pay attention to several factors, including customer data, market trends, and your competitor's habits, all while ensuring everything is aligned with your business's long-term objectives.

Automation makes use of AI and machine learning to track customers and identify user patterns. Marketers use this information to create and personalize marketing content before using the same AI systems to dispatch the content.

5. Social networking platforms will remain key traffic sources.

Social networking platforms are extremely useful to digital marketers. There are over 3.5 billion social media users worldwide, a figure projected to have surpassed the 4-billion mark by 2025. This means the platforms are yet to reach the peak of their powers, at least from the marketer's perspective.

If you have a small business or want to start one, do not overlook social media. Your entire target audience is waiting for you there, and all you have to do is find a way to grab their attention.

Conclusion

These are some of the trends tipped to take over the business world in 2020. Be an early adopter and book yourself a place among the market leaders in your niche.

Document Actions
EU Alerts

EUbusiness Week no. 851
Time to speed up climate action
→ EUbusiness Week archive

The Week Ahead no. 474
German EU presidency priorities - Just Transition Fund - road transport sector reform

Subscription options