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Over the past two years, the economic landscape has changed dramatically due to the Covid-19 pandemic. As the global economy prepares – we hope – for a post-pandemic future in 2022, companies need to adapt to the changing landscape in order to survive and thrive.
Here are ten changes you need to prepare for now.
1. Purpose transcends product features
Companies no longer exist solely to make profits. Leading brands compete and excel because they have a clearly defined goal. According to Deloitte’s Global Marketing Trends 2022, having a goal has changed from “ambitious to strategic priority”.
Brands that grow at a rate of 10% or more transform a purpose into a business in a more comprehensive way than those that grow at slower rates. Think about why you do what you do. For example, many startup founders have a big idea or problem that they are starting to solve. This is your goal.
Related Topics: Branding: Turning Your Goal Into Business
2. Redefine customer knowledge
The most successful brands know that their customers are at the center of every decision they make.
To be able to reach customers efficiently and cost-effectively, companies need to understand their customer segments. Few companies have only one type of customer they can address in their marketing. Clarifying customer personalities and dividing them into clear segments allows your business to target each segment specifically.
3. Increase customer expectations
Customer expectations have never been this high: Consumers expect a seamless experience from your business once they choose to connect with you.
These experiences can only be created if you use the power of technology and data. Both will help you create a personalized and relevant customer experience when existing and potential customers interact with you.
4. Marketing strategies transform into customer journeys
Companies may still be talking about marketing strategies, but they are really trying to understand customer journeys.
This comprehensive view of the business means taking into account all customer interactions with you. From the first ad someone sees to searching for information on your website, making a purchase and navigating after-sales service – all are important parts of the customer journey.
Customers who go through a bad experience one step further in their customer journey are less likely to become repeat customers or recommend your business.
5. Marketing should be at the heart of your growth strategy
The pandemic has lifted marketing from one of the organization’s many cost centers to upending everything your company does. To secure your organization’s growth and prosperity, marketing must be firmly at the heart of your growth strategy.
Over the past two years, most organizations have integrated marketing at the senior leadership level. Forward-thinking companies now have the opportunity to ensure that marketing remains at the heart of the company to ensure its growth.
6. Digital transformation is everything
If your business has not yet begun to embrace digital technology, wait no further. Using technology allows you to better understand the touch points in your customer journey. It will also enable you to create truly customized experiences for your customers.
Related: Digital transformation is essential in the new normal
Rather than removing the human element from your interaction with your customers, digital tools allow you to make interactions more private. Depending on your product or service, you may even be able to offer customized products.
7. Social commerce governs e-commerce
Social commerce is one of, if not the fastest growing, areas of e-commerce. If your business relies on online sales, getting serious about the potential of social media platforms should be at the top of your list for 2022.
While social commerce sales reached nearly $27 billion in 2020, it is expected to grow exponentially by 2025. By that time, consumers will spend nearly $80 billion, which is over 5% of all retail e-commerce sales. in the United States.
8. Multi-channel service is the key
How do your customers interact with you? You may use chatbots, emails, and a telephone call center.
Your customers expect the same high level of service from all of those channels. All of them are equally important. Providing a poor experience on the phone is not only reflected in your team’s response to calls. It will also affect the customer’s opinion of the entire organization.
Your organization will soon reap the benefits. According to the Adobe Total Economic Impact study on Adobe Experience Cloud, a omnichannel strategy can achieve 10% annual growth, 10% average order value increase, and 25% closed-end sales. No company can afford to miss it.
9. Mobility drives growth
More than 50% of internet traffic comes from mobile devices. This number continues to grow year after year while desktop usage continues to decline.
As a customer-centric company, you need to focus on providing a mobile experience that is at least as good as a desktop-based website. Simple navigation, clear site search options, and fast loading times are key to successful mobile sites.
Related Topics: How mobile is your website?
10. Become B2B B2C
B2B environments are not immune to these changes.
B2B buyers are now largely part of the original digital millennial generation. They no longer expect to do business at trade shows and through product trials. Instead, they are looking for counterparts to implement digital solutions.
To adapt to this changing market, B2B companies need to focus on creating B2C-like experiences for their customers. When you interact with a B2B buyer, never forget that you are actively interacting with another person rather than an anonymous organization.
To grow in 2022, your organization must focus all of its efforts on building an enjoyable customer-centric experience. This experience should be seamless across all touch points and marketing channels. It becomes more powerful with a clearly defined purpose at its core.