With ber months fast approaching, we want to look back at four key business trends that happened this 2022. If you're a startup owner who wants to innovate, we want to show you how you can use these business trends to advance.
1. Online shopping will continue to rise
Online shopping was a popular pastime before and during the COVID-19 pandemic, and it continues to dominate people's time now. We cannot ignore its importance even if foot traffic increases as people return to the offices and schools. So, your MSME must get into e-commerce.
Simply putting your store on channels such as Grab, Shopee, and Lazada is already a big help. Some of these e-commerce stores do not have a sign-up fee and will only take a percentage of your earnings, which isn't that bad considering the exposure and low maintenance you need to keep your name there.
2. The need for tech tools
Using tech tools is one of the best ways for a business to innovate, which is still true in 2022. Many MSMEs are now spending more revenue on tech, from significant digital upgrades to simple video conferencing subscriptions.
If you're not in the tech industry, this may sound like too much, but even investing in simple tech tools like CRMs, chatbots, and digital platforms are things that will help your operations, your marketing, and your long-term revenue. So, start thinking about a gap in your business, and is there a tech tool you can use to solve it? If yes, it is worth exploring.
3. Social media is not going anywhere
Using social media to boost business presence and gain customers continues to be significant. Facebook and Instagram are still one of the leading social media platforms, but we cannot ignore the power of video streaming platforms like YouTube and now TikTok.
Getting into social media is crucial for your success as an MSME, but capturing user attention is difficult. So, tailoring the content you post online to fit your customer is necessary. Make sure you know your customers, their concerns, and what they like, then create content to match.
4. Workplace flexibility is here to stay
Despite the world learning to live with COVID, the hybrid setup has stayed and will most likely go on. Don't be surprised if more and more employees are looking for a flexible workplace with this setup, and as employers, we need to be prepared to provide it.
Start exploring hybrid options for your employees by checking to see what exactly is the employee's role and task in your business. This is also the perfect time to see if some tasks can be answered with a tech tool instead (Going back to point 2).
These four trends may sound great, but be intentional when doing them. Make sure you know why you want to invest in that particular trend, how you will implement it, and what figures you will track to check this trend's success.
2022 is not over yet, and we're excited to see what other business crazes come out this year. For now, we hope the quick lookback can give you an idea of how to innovate your business for the remaining months.