Organizations are being forced to rethink their operation since technology is changing the way we work at an exponential rate. Today, most companies are streamlining processes by using AI and cognitive technologies to create an efficient workforce and achieve human-machine collaboration. In the aftermath of the COVID pandemic, companies are looking at a hybrid work model that combines remote work with the time spent at the office.
Given below are the 11 trends that will shape workforce dynamics in the year 2022.
AI Augmented Workforce
AI augmentation will add value to businesses since an augmented workforce is the perfect fusion between humans and machines. It requires redefining fundamental human skills and building competencies through continuous training.
It involves rethinking the role of the workers and creating a human-centric symbiotic system in order to make a smooth transition from automation to collaboration between humans and machines. Statistics reveal that a large percentage of the companies have successfully adopted cognitive and AI technologies within their workforce without the employees having to undergo excessive training.
More Focus on Skills
65% of the repeatable managerial tasks such as scheduling, approving expense reports, providing performance feedback, and monitoring direct reports will be automated by the year 2025. This shift will require companies to empower managers with a new set of skills to equip them so that they can manage the complexity of a hybrid workforce.
Organizations can either choose to decrease the number of managers or redefine the roles of the managers so that they can manage the employees’ perception of their career trajectories. Once the managerial tasks are automated, there is more scope for managers to develop the skills needed to build a better relationship with their employees.
Employee Monitoring and Analytics
Organizations will be using digital tools to monitor employees in real-time. Many applications already provide real-time activity tracking. These applications can take screenshots of the computers of the employees at regular intervals. They can also capture the action of the keys struck on a keyboard in order to monitor the employees.
Sometimes these tracking tools are installed covertly. Companies insist that some amount of monitoring is necessary to improve productivity. Moreover, analytics applications can provide insights on the performance of employees, identify talent and indicate areas where the employees might need additional support.
Although companies will continue to believe that monitoring is essential, employees may feel that they have a right to protect their privacy.
Hybrid Work with Minor Tweaks
Some companies will continue with a hybrid work model where employees have the option of working in the physical workplace and also remotely. This will help the employees work better since they can choose to work during the part of the day when they are most productive. It will also make the employees happier and help the organization attract better talent.
Companies will benefit from the reduced need for office space. Moreover, this work model will help to build the brand image of the company since prospective employees will view companies offering the hybrid work model favorably.
For the hybrid work model to be effective, companies will have to be more inclusive of people who work remotely rather than favor those who are more often at the office. Collaboration between remote and in-house teams is also a must. Again, some people may have to be present at the office more often, so being fair to people who often cannot work remotely is a must.
Virtual Meetings Will Get Better and Shorter
Virtual meetings will be held only when necessary since managers can use video-sharing platforms to make videos in order to communicate with their teams. A video sent before the meetings covering the objectives, agenda, and context can make the virtual meeting shorter and save time.
Video conferencing platforms also provide automated transcripts which seem to work reasonably well. A video library that allows the employees to hear the recorded meeting at their convenience will also help reduce the need for frequent virtual meetings.
Time is More Important than Place
Avoiding the commute to the workplace when it seems unnecessary is going to be one of the best benefits of remote work. Fewer workplace meetings and reduced distractions at the office will be a blessing for some people since not everybody has the same amount of time at their disposal.
Managing time well will have a huge impact on the life of the employees since they can develop additional skills that have become necessary as a result of companies adopting AI technologies. This in turn will improve their performance and help them make a smooth transition from automation to collaboration between humans and machines.
The network of 3D virtual worlds focused on social connection will continue to revolutionize all aspects of business by allowing collaboration in virtual spaces and augmented physical places. Businesses can travel between spaces and synchronize customer data across platforms.
Metaverse will continue to create new lines of virtual business and transform interactions between clients and companies. Users can host numerous virtual worlds and reshape how people work and interact. This will help companies boost efficiency and facilitate taking real-time decisions across supply chains.
Flexible Work Will Be a Requisite
Flexible work arrangements will have to be maintained by many employees out of necessity and also because several employees will continue to choose remote work. Shorter working hours rather than a pay hike to work longer will appeal more to the employees.
Companies will also have to make arrangements to provide employees with flexible reimbursements to make at least part-time remote work permanent. Employees will have to be given an allowance to purchase workplace equipment like the laptop and the ergonomic chair.
They will also have to pay for internet expenses, meal delivery during work hours and meet other foreseeable work-related expenses, so they will have to be guided on how to make these purchases and apply for reimbursements.
Bigger Role of Cybersecurity
Phishing, spoofing attacks and fake alerts have to be tackled effectively since people have started working from home. Prior to people working from home, the IT team at the workplace used to take care of cybersecurity, but when employees started working remotely from different locations during the COVID pandemic, they had to initially handle cybersecurity threats themselves.
In the year 2022, companies will have to establish and enforce a strict data security policy to prevent internal security breaches by clearly outlining security protocols that the employees have to comply with and stating the consequences of non-compliance.
Employees will have to have a VPN. Antivirus software has to be installed on their office laptop. All the devices that are used by employees to access customer data will have to be equipped with firewalls and spam filtering tools. Moreover, these tools have to be kept up to date.
Companies will have to invest in a mobile device management platform so that if any device is stolen, sensitive data can be wiped off immediately. Multi-factor authentication has to be adopted for ensuring security while working remotely. It is important for the employees to train in cybersecurity awareness. The IT team, too, has to be ready to lend any assistance that is necessary to the employees.
Diversity and Inclusion
Businesses will be hiring remote workforce from different geographical locations and backgrounds across all job levels, functions, and teams. Since the performance of employees in ethnically diverse organizations is much better than the performance of their counterparts in organizations where most people are from the same ethnic background, businesses will benefit. Moreover, management teams from diverse backgrounds are known to generate more revenue than non-diverse teams.
Remote work will also help to close the gender gap since women need the flexibility of working from home more than men. It is a known fact that gender-diverse organizations are more profitable than organizations where most people are from the same sex.
Hence, companies will definitely benefit as a result of employees working from home. Remote work will also integrate all those people who may fail to mingle with the rest of the employees because of predisposed biases and prejudices. Thus, remote work enables a more inclusive and diverse organization.
More Competition and Opportunities
As a result of remote work employers are scouting for talent even outside their geographical region. Thus, there is more competition among prospective employers. As far as the employees are concerned, their home location no longer determines their workplace since they can explore employment opportunities even outside their geographical region.
Even people living in small towns and cities can now work for companies in major cities.
To conclude, remote work can empower the growth of companies provided they take a holistic approach to security management. Employers have to offer creative options like providing child care and allowing the employees to take more time off in place of a pay hike and long working hours. Employees have to undergo cybersecurity awareness training and embrace remote work as the new normal in order to march ahead with the changing times.
8 Effective Ways to Ensure Ecommerce Business Success
It is a known fact that the global consumers are favoring ecommerce, and the reasons for ecommerce business success are many.
According to a Statista forecast, the retail ecommerce revenue in the US is expected to cross 1.3 trillion dollars by the end of 2025.
Image via Statista
While brick-and-mortar stores are gradually losing their dominance, the digital marketplace is blazing. More and more ecommerce brands, big and small, are coming up and gaining a foothold in this ever-expanding landscape.
If you are one such ecommerce business striving to taste success, you know how demanding and competitive things can be. And you only beat the fierce competition with aggressive ecommerce marketing strategies like digital advertising, content marketing, social media marketing, etc.
In this post, I will be sharing 8 key factors you need to focus on to ensure your ecommerce business success and sustainable business growth.
Let’s get started.
8 Key Factors for Ecommerce Business Success in 2022
The future of ecommerce is bright and the small businesses that jump on the bandwagon early will reap great benefits. But what does it take to taste this success?
Here are the 8 key success factors for ecommerce businesses.
1. Target a Niche Audience
The secret to ecommerce business success lies in understanding your target audience and focusing all your efforts on engaging them. Instead of trying to attract a broad audience on the search engines, select a niche audience specific to your small business, understand their pain points and interests, and position your brand to meet their needs. An SEO tool like Semrush or Ahrefs can help you with your research to build a strong marketing strategy based on real insights.
The goal is to make your product unique and market it to a relevant audience that is more likely to make a purchase. This strategy can increase customer loyalty and win repeat customers for your small business. Therein lies the secret to your ecommerce business success.
2. Go Mobile-First
The pandemic has accelerated our shift to ecommerce and given rise to m-commerce. Insider Intelligence estimates that by 2025, m-commerce sales will account for 44.2% of total ecommerce sales in the US.
So it’s clear that the success of your ecommerce business relies on the mobile-friendliness of your site. Having a mobile-friendly online store can help you deliver a seamless online shopping experience to customers on the go.
You can begin by running Google’s Mobile-Friendly Test and building a progressive web application (PWA) for your online store. A responsive design for your website will help boost sales and pave the way for your ecommerce business success.
3. Choose the Right Distribution Channels
Your audiences are active on different channels and if want your products to be visible to them, you need to choose the right distribution channels.
If your business model focuses solely on your ecommerce website, you should broaden your perspective and consider other sales channels. There are several other options to sell your products like Amazon, eBay, social media, affiliate marketing, and so on. You can manage your sales process effectively with the help of sales CRM tools. These tools integrate your different sales channels and makes your sales process more efficient.
Conduct extensive research to figure out which of these channels are preferred by your target customers. Showcase your products in an attractive way to boost your ecommerce sales. This digital marketing strategy can contribute to your ecommerce business success.
4. Create Unique Content
You heard that right. To ensure that your ecommerce brand stands out in the crowd, you should invest in high-quality and diverse content.
Today internet users are flooded with content and to grab their attention you need to think out of the box and create content marketing strategies that truly grab their attention. Remember, video content is ruling the landscape delivering great results. You can use Premiere Pro Presets to create unique and impressive videos and stay ahead of the competition.
Gather insights from customer data analysis, see what your competitors are doing, and learn from your previous digital marketing campaigns to create a more targeted content marketing strategy for your small business.
5. Continually Update Your Email Marketing List
Marketers rely on email marketing to achieve diverse marketing goals. Emails can be used to generate leads, nurture them, build relationships with customers, ensure customer satisfaction and boost ecommerce sales.
But to leverage the power of email marketing, you need to be smart about your email lists and use the right email tools to manage them. There’s no point in sending a thousand emails when only a couple of hundreds of recipients are your target audience.
That’s why segmenting your email lists and keeping them updated is crucial to your ecommerce business success. An effective way to manage your email lists is to ask for the recipients’ feedback on your emails and the information they prefer to receive.
By analyzing the responses, you can make more strategic decisions and ensure the success of your ecommerce business.
6. Deliver a Great Shopping Experience
The expectation of customers in terms of customer experience has skyrocketed and that’s why you need to work towards improving customer satisfaction.
Personalized communication could be one of the biggest game-changers, be it in recommending products, reminding them of abandoned carts, or introducing them to your latest offerings. Creating user story maps can go a long way in making your personalization efforts more effective.
Right from the moment customers land on your page to when they make a purchase, you should strive to create a smooth customer experience. You can also consider incorporating an AI-powered chatbot into your website to take your customer service to the next level.
To make your customers happy, offer them special deals and discounts. Such moves will surely boost your ecommerce business success.
7. Invest in Social Media Marketing
Social media, can be immensely effective in creating brand awareness, extending customer service, and generating leads for your ecommerce business. Facebook, Instagram, Pinterest, and YouTube are all marketers’ favorites to reach out to niche audiences and drive traffic for their sites.
Having said that, it is a crowded market, and winning big on social media isn’t easy. As an ecommerce brand, you need to use social media analytics to create digital marketing campaigns that not only generate engagement but also fill your sales funnel with quality leads.
Ecommerce brands should also leverage social selling as it is growing into a prominent trend. This shoppable post by Macy’s allows its Facebook followers to buy what they like instantly.
Image via Facebook
If invested strategically, selling on social media can act as a profitable sales channel for your business.
8. Leverage Ecommerce Tools
Your team need not struggle to ensure the success of your ecommerce business. A variety of advanced ecommerce tools are at your disposal to optimize your efforts.
Some of the must-use tools for you are:
- Website tools – to design, set up, and manage your ecommerce site
- Ecommerce marketing tools – to help strategize and execute your campaigns with ease
- Competitor analysis tools – to understand the gaps in your planning and improve it
- Analytics tools – to help you gauge the performance of your digital marketing campaigns
- Business tools – to help you manage daily operations, finances, logistics, inventory, and customer service
Choose the ones that can boost the success of your ecommerce business.
There you have it, a list of 8 key factors you need to work on to ensure the success of your ecommerce business. Gaining this success is hard work but it is worth it.
If you want to fuel your business growth, I strongly recommend building your ecommerce marketing strategy to enhance customer experience and build your brand identity. Go ahead and give them a try to beat the competition and establish a successful ecommerce business.
8 Effective Ways to Ensure Ecommerce Business Success
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