4 Key Business Trends You Should Keep An Eye On

The 21st century has created various changes and introduced advanced tech solutions in the business world. The most important thing about this new era is that now, the internet has taken the world by storm and almost all businesses need the internet to market or promote their products or services. The internet has definitely played a positive role in the business arena and we can expect more prosperity from its use.

Today we are going to discuss four key business trends that you should keep an eye on in 2021. It is particularly important to focus on these points if you want to keep your business ahead of the curve and crush the competition.

1. Chatbots are necessary for reducing response times and building trust

Artificial Intelligence technology turns visitors into leads, but that’s not the only thing AI is good for. There are other opportunities and possibilities to make use of AI that suits your business, increases engagement with your visitors, and ultimately turns website traffic into happy, paying customers.

What are the Advantages of Chatbots?

There are many advantages of using an AI chatbot for your support communication, but before we dig deeper, let’s take a look at some chatbot statistics.

Chatbot Benefits Statistics

Chatbot technology creators revoluntized the support communication by intoducing AI agents.

Here are the main chatbot benefits statistics:

  • In 2017, IBM mentioned that chatbots can help reduce customer service costs by 30%. This data is amazing. Just imagine saving 30% on your customer service costs. You can reduce the budget for customer service and instead invest in other business sectors.
  • Even before that, back in 2016, the CEO of Microsoft Satya Nadella said during a ceremony of the Microsoft Build Developers that “Bots are the new apps”.
  • Google has confirmed the usefulness of chatbots, which is shown in the attached statistics. If you look at the trends, you will notice that the chatbot trend is continuously increasing in 2021.
  • Information presented in a press release from Grand View Research with the title “Chatbot Market Size Worth $1.25 Billion By 2025 | CAGR: 24.3%”, clearly shows that the trend and growth of the website chatbot usage on is increasing.

The emloyment of various online customer support software systems that use chatbots has triggered the constant provision of instant responses to customers and the drastic reduction of response times.

2. Deep learning is taking over businesses

Deep learning is a complex technology that involves the analysis of an immense amount of data and using the data to make smarter decisions. A Delloite study showed that “more intelligent networks enable organizations to reduce the time between collecting data and taking meaningful actions."

Its application is seen in modern devices such as computers, laptops, mobile phones, and other similar devices that detect the language you normally use to communicate or type something. With the advancement in computer algorithms, machines are designed in such a way that they learn the languages of humans and perceive what they are going to type next. This ability of computers to do what comes naturally to humans is known as machine learning or deep learning.

It is a subset of artificial intelligence that analyzes human actions and creates algorithms to bring the desired output. No human intervention is involved in this process, as the system feeds itself through structured data.

In this era of modernism and technological advancement, deep learning has turned out to be very useful in analyzing big data, especially by providing accurate image processing, speech recognition, language suggestions, object detection, and so on. It has been introduced as advanced technology and now it is also playing a part in revolutionizing the supply chain businesses. In a supply chain business, it serves as the data analysis tool and helps in coping with the challenges of by-product recognition, data entry, product quality detection, and also serves as an advanced data mining tool.

The application of deep learning techniques in businesses has surpassed expectations and outperformed alternative manual methods.

3. Website responsiveness determines overall optimization level

When it comes to designing a website, the user’s experience matters the most.

If you have ever listened to website designers and developers discussing excellent websites, you probably noticed that what matters the most for them is the responsiveness of the website design.

The responsiveness of the website design greatly depends upon the appearance and layout, but here it is important to understand the concept of responsiveness of a website design.

It is the method in which the website is designed and coded in such a way that it provides prime viewing experience to the users, no matter which device they use.

So, if you also want to improve the user experience and increase visibility of your website on Google, you should use a responsive website builder to enhance the responsiveness of the website design.

Website Responsiveness Improves User Experience

If you want to improve user experience, you should pay special attention to the website's responsiveness. This concept involves making it easy for the users to browse through the website and get access to the relevant information quickly. Thus, instead of confusing your visitors with unusual popups with mostly uselles textual information and irrelevant photos, the responsive website should immediately take them to the desired destination without causing any distractions.

Another important aspect of the responsive web design is that it should work properly all devices. In other words, your potential buyers should be able to browse through your website using their phones and PCs with equal ease.

Let's see why responsive web design is a key business trend in 2021 and 2022:

  • 61% of the website users do not consider the website valuable again if it fails in providing the relevant information the first time.
  • 57% of them purchase when they are satisfied with the responsiveness of the website.
  • According to a survey conducted by Google, 48% of the website users consider it the biggest flaw of a business when they see that their website is not responsive enough.

4. Journey builders are the most effective way to boost sales

If we look at the statistics of using marketing automation adoption, we come to know that more than 58% of B2B companies are planning to adopt automation technology, while 51% of them are already using marketing automation.

Marketing automation is one of the latest marketing trends and strategies, as made obvious from the fact that the U.S. Marketing Automation Software industry is a $6.1B market in 2019, growing 20%+ annually.

Creating seamless customer experiences has been made easier through journey builders. In fact, leveraging the powerful capabilities of journey automation has a direct impact on sales and conversion, productivity, and overall business growth.

What Are Customer Journeys?

A happy customer has become an imperative for the growth of businesses.

No marketing strategy can produce beneficial results if it doesn't focus on the needs and demands of the customers. It is all about how satisfied the customers are from a particular business and how they feel about it. This means that it is the core responsibility of all businesses to determine and satisfy the unique needs of their customers and ensure a high satisfaction level.

This is where the role of customer journeys comes into play.

Customer journey is a process in which a business uses all possible means to learn about the needs of their customer and see what they can do to keep them returning. In this process, all of the actions of the customer are analyzed by paying attention to what the customer looks at immediately after landing on the company’s website, while also analyzing how their browsing experience can be made smoother, etc.

It is the route adopted by the customer from the time he/she landed at the businesses’ site to the complete experience of the customer with the organization.

Let’s make it easier.

Customer journey is a complete journey of a customer from recognition to loyalty, including all phases from browsing the company’s site to making continuous purchases.

What Are Automated Journey Builders?

If you understand the customer journey concept, you should know that a potential customer passes through various stages of research before making a final purchase decision. Automated journey builders conduct in-depth studies on the behavioral patterns of the customers and send them emails based on their various actions to help you turn your customers to repeat buyers.

In other words,

Journey Builder is an automatic or robotic system that deeply studies the touchpoints, browsing history, and all other responses of the customer and creates engagement-based journeys for them.

Whether you are targeting new customers or plan on sending emails to the returning ones, this marketing effort will surely prove to be fruitful.

The whole theme of this discussion is that if you want to keep up with the demands of the modern world and want to become successful in this competitive business market, you should have your finger on the pulse of the latest innovations and technological inventions. And keep in mind that chatbots are one of the most important trends, as they focus on providing personalized support to your customers. This personalized support is essential for keeping clients happy and satisfied, which ultimately leads to the success of a business.

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