The revelation of the yearly trends impacting businesses is what makes every new year exciting – and nerve-racking. Even though it feels like yesterday we were wondering about the impact of the technology and strategies that were poised to shape 2018, the new year is here to be bigger and better than ever for industries across all sectors.
To help stimulate better results in the future, it’s equally essential that you monitor the trends that could affect your industry — and the business world as a whole — in 2019.
1. Data, data, and more data
This year, consumers will want more control over their data. GDPR has come into effect, so businesses have to be extra careful with how they use their customer’s data. However, there are ways in which companies can overcome the worries over data protection. With interactive content being all the rage among consumers, the one-to-one personalization of business channels has been made possible by data tied to specific customers – one solution to make sure consumers are sharing the data they want to have shared.
2. Personalization will be personalized
Anything that can be personalized will be personalized in 2019. Most importantly, 2018 showed us that the supermajority of consumers prefer to work with brands that offer personalized experiences. Communication strategies are changing, so it is up to executives to determine how to effectively reach their costumers and keep them engaged this year.
3. Embracing AI
Artificial intelligence really started to enter the mainstream in 2018, with chatbots and virtual assistants making their presence felt in a wide range of industries. With the use of AI, businesses will be better equipped to handle more customer service tasks than ever before to better facilitate the customer journey. As the year progresses, we can expect astonishing breakthroughs as well as continued excitement from businesses fully implementing AI in business strategy this year.
4. The increase of social responsibility
Corporate social responsibility has been gaining momentum for years, but 2018 saw a star-studded justification of the movement. From movements like #MeToo to methods of environmental conservation, in 2019 and into the future, executives should anticipate that social duty should be at the table stakes of business as it continually impacts the culture and lives of people across the globe.
Even though this short list of trends can be challenging for executives to consider this year, part of what makes a business’ New Year’s resolution fun is the prospect of that anticipated challenge. By making a year-long commitment to something that is sure to come true with the right mindset and the right amount of work, it will be easy for businesses to adapt to obstacles blocking their path to success this year.
All in all, it is inevitable that change is going to happen. The world turns and we get on with our lives, but recent events can be unsettling or exciting depending on your perspective. Business should remind customers of the convenience, safety, or excitement of changes in policies, practices, or products or how business will manage change. That being said, the companies that are open to development and are willing to innovate will be the ones that will be the champions of 2019.
DIGITAL ENTERPRISE TRANSFORMATION WEST
Thanks to the success of our Digital Enterprise Transformation Assembly series, in 2019 The Millennium Alliance in partnership with our Advisory Board, we are adding more events to the list! Digital Enterprise Transformation West Coast will be heading to Nevada in February.
This exclusive Assembly will bring industry experts and the best solution providers to our Senior Members based on the West Coast.
Are you a CIO or CTO interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>