Forbes magazine published "The Top 10 Business Trends That Will Drive Success In 2018" by Ian Altman in 2018. Our summary has selected five of the trends that impact business the most. Other patterns listed were social learning, live streaming video content, serve the community, subject matter experts, and blockchain.
1. Artificial Intelligence Drives Customer Experience
Leading companies are embracing artificial intelligence (AI) for processing data, performing redundant tasks, and doing repeatable tasks. According to Christopher Penn, SHIFT Communications VP of Marketing Technology said, "There are three levels of machine learning: AI where machines perform tasks normally performed by humans; machine learning, where the machines learn on their own; and deep learning, where machine learning chains together for rich learning." AI evaluates GPS data:
* Google Maps for real-time customer data.
* GPS Insight allows municipalities to deploy emergency and repair crews during a crisis.
Technology tools are becoming more accessible and less expensive today. AI can be customized and designed for each consumer's lifestyle and businesses needs.
2. Live Interactions Over Social Media
Build live video exchanges with consumers to engender long-term brand loyalty. Community events like B2B Forum from MarketingProfs are limited in the number of attendees that can attend the event. Face-to-face interactions are the most valuable connections you can make in business. However; building a relationship through social media can give the other person a sense that they know you.
3. Millennials Welcome Generation Z
Goldman Sachs analysts have identified Gen-Z as those being born after 1998. There are almost 70 million in this generation, and the older ones are going to college or joining the workforce. They will outnumber Millennial predecessors. These newest work candidates were born with technology devices in their hands, and a fresh perspective of innovative techniques to success.
4. Wages and More On The Rise
The Society for Human Resource Management predicts a 3% increase in wages for all sectors in 2018. Higher demand jobs in physical therapy, elderly care, and health care can expect the most significant gains. Engineering, virtual reality, and drone technology wages are estimated to demand higher wages. Adjustments in compensation will retain quality workers and can attract quality employees.
5. Marketing Drives Results With A Focus On Problems
How you make and approve decisions determines success. Companies that change marketing messages to demonstrate how they solve problems instead of the features they sell will shift the focus back to the customer. Solve problems for your customers to increase brand loyalty and promote growth.