There was a time when it was acceptable, and profitable, to simply start up a business, create a solid and loyal customer base, and make sufficient turnover each year to be able to continue trading into the next.
Sadly, these days are gone.
In an ever-competitive market, it is now more vital than ever that you seek out ways to improve and grow your business, or risk becoming outdated, unfavored, and redundant.
Harsh but true.
To survive in the current economic climate, your business always needs to be one step ahead of its competitors; in terms of products or services offered, marketing solutions and customer interaction.
Luckily, you don’t need to do all this yourself; there are many new, innovative and constantly evolving technologies that can help your online business to not only thrive but also to expand.
Create online courses
This is such a simple yet effective way to make an additional income from your online business. If you already have a decent number of loyal followers and are knowledgeable (let’s hope you are!) in your chosen industry sector, why not create a selection of online courses that your clients can purchase? Doing so can mean creating an instant passive income.
You can offer these courses to everyone in your email subscription list as well as reach out to potential new clients by recording a quick YouTube video with just a taster of your online course to create further interest and attract new clients.
Embrace live video content
Heading into 2020, video content will remain the number one form of consumer content, because who has the attention span and time to read when you could be watching an eye-catching video?
Even more interesting is that live video content is watched on average for three times longer than pre-recorded content, so for 2020, your focus should be on creating engaging and live video content.
Not sure where to start? If you already have a YouTube channel with more than 1,000 subscribers, you can instantly post live video content. Alternatively, look to Facebook or LinkedIn to stream your videos.
‘How to Guides’ are having a moment currently, so posting live tutorials is a great way to attract new followers and increase your brand awareness.
Utilize virtual reality
No longer just for the tech-savvy, virtual reality is set to become more mainstream in 2020, so it is vital that your online business embraces this technological trend and uses it to both enhance your current clients’ user experience and to attract new customers.
For example, if you are already posting video content on YouTube, why not look into creating 360-degree VR videos that will allow your customers to fully immerse themselves in the experience, leading to an increase in brand loyalty and giving you an edge over your competitors.
Caffeine Marketing can help show you how to use virtual reality technology to your advantage as well as help with all of your other digital marketing needs.
Ensure you have a mobile app
If your business does not already have a mobile app, then this should be your priority at the start of 2020, when mobile applications are expected to generate £189million.
Can you really afford not to have a slice of that rather large mobile pie?
Furthermore, the number of people using smartphones has increased by 500% in the past few years, so it is vital that you have a mobile app if you want your business to grow.
Some of the benefits of a mobile app include; a better user experience, the chance for direct marketing solutions and 24/7 access to your products or services, wherever the users are.