Staying ahead of the game is more crucial than ever in today’s economic climate. Knowing which industries are set to grow before they boom means that you can start developing your own business model and service offering to tap into where the demand is and ensure your company stays viable well into the future while meeting your customer and client’s expectations. Breaking into new markets or adopting a new way of trading can be difficult, so in addition to ensuring that your business’ systems and processes support a new direction, you also need to have strong messaging to establish your brand with your target demographic. Market Smartly to find out more about how an agency like Market Smartly can help strategise and implement marketing solutions.
1. Organic Farming
The modern consumer has become very socially and ecologically conscious and all businesses should start to take notice of this trend. People care about where their food comes from and the supply chain of their consumables. Even if this market is not one that you can enter or service, it can pay to start thinking about ways that you can integrate ethical and sustainable practices into your business.
2. Ecommerce
With an average annual growth of over 12%, online shopping is only going to continue to get bigger in the years to come. Customers want choice and convenience and to be able to do business the way that it suits them so try to offer flexibility in your service offering. Even if your business does need to maintain a physical presence, see if you can incorporate some innovation in how your customers and suppliers interact with your business.
3. Online Education
This is an important one to take note of if you are a service registered training organisation or educational institution. As many students take up flexible, online delivery options for courses, you may find a decline in demand for traditional classroom services and supplies. The trend also makes it much easier for businesses to facilitate professional development of staff, which can boost credibility as an employer of choice which can help to make people want to work for and do business with you.
4. Digital Publishing
The growth in the online publishing industry has an impact not only on how traditional media continues to adjust to the digital revolution, but also in how businesses should be distributing their advertising spend, targeting publicity opportunities and communicating with their target audience. Digital consumption is only going to continue to increase in years to come so now is the time to start thinking about where it fits in your marketing and service offering mix.
While making the most of industries experiencing exponential growth makes good business sense, it is important to still keep a focus on ensuring that you regularly review business processes and opportunities for growth to ensure that you really are future proofed heading into the future.
Which industries are you tipping to boom this year?
