Changes We Can Expect In Business In 2016

01 Feb Changes We Can Expect In Business In 2016

The business world is finally moving headstrong into the new year. Large and small business owners are excited to learn about all the emerging changes in the business landscape that are just around the corner. What these business owners are beginning to see is that 2016 is shaping up to be a great year for doing more business than in the prior year. Some of these changes are technology driven. Others are driven by the fact that the nature of doing business has undergone a normal evolutionary shift due to an ever-changing marketplace. The following are some examples of significant business-related changes that are already making their presence felt in the broader business world.

Marketing Firm Consolidation

For a long time now, marketing firms have been highly competitive entities in the business world. According to this source, one new emerging business trend for 2016 is that many of these marketing firms are poised to consolidate. This could spell good news for small businesses who need increased market exposure for a lower cost. Since larger marketing firms can leverage more marketing resources with more clients in hand, this could make 2016 the year marketing becomes more efficient and cheaper across the board. For this reason, companies should be actively seeking to leverage this developing marketing shift to obtain a potential edge in their industry.

A Shift From Email Marketing to App Marketing

The old trend of email campaign-based marketing, that was once a hot, cash cow marketing avenue, is experiencing a major decline. From customers dropping and changing old email addresses to spam software becoming more intelligent, such email-based marketing efforts are more easily blocked than in years past. Add to this problem that people are spending more time on smartphone apps, rather than spending time in their email, and the stage is set for the need for companies in 2016 to scramble to get their company’s latest app out to be competitive in the coming months. As millions of users are exchanging terabytes of data every day on their smartphones, an app can allow you to gather some of that information. In light of the fact that apps tend to be more interactive than email, this marketing avenue provides a company with far more opportunities to entice consumers to become regular customers. It is important to remember, however, that a business’s app is only intended to be a key part of a larger operational strategy for 2016.

The Push for Increased Cryptocurrency Proliferation in the Marketplace

Because consumers are becoming more aware of the use of cryptocurrencies in modern business, 2016 could be the year that cryptocurrencies will make a huge impact on markets across the globe. With many online users already grabbing up bitcoin and related cryptocurrency options, businesses who offer cryptocurrency payment methods become far more attractive to the emerging online consumer base. It is important to remember that many of these generation x, Millennials and the emerging generation iY, digital native consumers prefer the anonymity involved in paying with cryptocurrencies for products and services they consume. Businesses who refuse to accommodate this growing community of online consumers will undoubtedly experience a considerable loss of market share to those companies who make the effort to accommodate this growing movement’s payment preferences.

US-Based Businesses Will Take a Huge Hit in 2016

According to US News, as business owners in the US head into 2016, they will begin to feel the effects of mandatory insurance requirements placed on them by the Affordable Care Act. For small businesses not ready to take this financial hit, the Act may prove to be not so affordable as its name suggests. If the strain of this ever changing program triggers an increase in layoffs, this could potentially have an impact on US-based business operations, creating an undesirable state-of-market lag alongside employment problems.

Conclusion

As the winds of change blow over the broader global markets, business trends for 2016 are certainly beginning to take shape. With a general move to more modernized business practices on the near horizon, companies will start to feel the stress to make 2016 the year to catch up with current marketing and technology-related business trends. While some companies will buck this trend, they will likely find that they will be developing a pattern of falling behind the times to the detriment of their ability to maintain a solid, thriving customer base.

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