The pandemic disrupted the business norm, and the norm is still in a state of uncertainty. The vaccines helped relieve some of the business anxiety. But corporations in all sectors of the economy still don’t know how to handle the current social changes. But thanks to emerging trends in all sectors of the economy, businesses can keep up with current consumer needs.
Companies Have To Take Advantage Of Emerging Trends To Survive
This is the age of electric vehicles, online shopping, social media platforms, and space travel. Businesses that continue to put their future in the hands of outdated sales strategies won’t last long in the current economic atmosphere.
Small and medium-sized companies need help in the online marketing world. Those companies must adopt new online business strategies that include identifying emerging trends in their industry. And businesses must take advantage of the knowledge key opinion leaders bring to the online marketing game. Market intelligence is another trend corporations need to address in order to stay relevant online.
Picking the right tech trends can be a struggle, according to Bob Goodman, the CEO of NetBaseQuid. NetBaseQuid is a social media analytics company. The innovative company uses the latest tech trends to help brands and businesses identify their strong points and work on their online weaknesses.
Mr. Goodman and the NetBaseQuid executive team put together an Artificial Intelligence platform that covers all the social media bases. That helps companies like American and United Airlines identifying the emerging trends in air travel. The innovative AI platform helps them recover from the 2020 virus-inspired revenue disaster.
Cooperative Competition Is A Key Ingredient In Emerging Trends
Cooperative competition is a key trend in most sectors of the economy, according to Mr. Goodman. Goodman calls cooperative competition coopetition because it levels the playing field in industries like healthcare. Healthcare providers must find a way to lower costs while maintaining core service credibility. The virus hurt healthcare credibility, but cooperative competition helps restore faith in the caretaking abilities of the healthcare industry.
Market Intelligence is another tool NetBaseQuid uses to keep executives on their toes. Brands need to know what the competition has up its sleeve next year. And the best way to get that information is to use an AI-based social media platform that produces that kind of futuristic information.
Key Opinion Leaders Adds Another Dimension To Emerging Trends
Brands know the importance of Key Opinion Leaders (KOL). They are consumer leaders. And other consumers want to be like them in one way or another. Opinion leaders give feedback, identify new products, and research the competition. Key opinion leaders also help startups get on their feet. Plus, they influence new product ideas.
Interaction with a key opinion leader is the new way to produce word-of-mouth advertising, according to Mr. Goodman. Brands that have more than one opinion leader know the texting, blogging, and social media sight interaction key opinion leaders use can help achieve revenue projections. And they keep products and services fresh and inviting.
In order to succeed in the 21st-century, brands and businesses must be flexible, diverse, and inclusive. The main ingredient in success is to embrace the new tech advancements that all brands need to produce positive results in an ever-changing economy. Tech advancements like NetBaseQuid’s social media analytics AI platform incorporate all tech trends into a program that helps build new relationships and solidifies old ones. Not all companies embrace tech trends. But the companies that do will reap the rewards they offer. New tech trends reshape brands as well as careers, according to Bob Goodman.