The technology landscape is filled with key trends that shape our lives and work. Read on to see how these trends translate into business strategies that can help boost your sales in 2013.
By the myBusiness techblog team
The start of a new year is usually a great time to ramp up your business. But what should you focus on? The following four key businesses strategies are some you can consider adopting this year to bring about greater sales for your business.
Keep an eye on emerging markets like China and India
Emerging markets have always played a key role in business, but the Internet has magnified this principle. With an estimate of over 190 million online shoppers, China is poised to become the largest online marketplace in the world in the near future. In 2011, online retail in China alone generated a whopping $121 billion in sales; and this number is predicted to double by 2015, making it twenty percent more than what is forecasted for its U.S. counterpart. India’s e-commerce market is also set to boom, with a population of around 130 million online shoppers. Focusing on providing services or products to these emerging markets could help bring new opportunities for you.
Embracing mobile apps could be your winning formula
According to Mary Meeker, a general partner at Kleiner Perkins Caufield & Byers (KPCB) – a well-established venture capital firm, “When one looks at the average time users spend on media, people spend about ten percent of their “media time” on mobile – but just one percent of ad spend is spent on mobile.” What this means is that despite the huge rate of adoption for current mobile users, there’s still plenty of room for growth. Creating apps or tailoring ads on mobile platforms is a good way to tap on this rising trend.
Have a dedicated mobile site or application for tablets and mobile devices
According to Forrester Research, mobile commerce sales will grow from $10 billion in 2012 to $32 billion in 2016, accounting for more than seven percent of e-commerce sales. Equipped with full-functioned web browsing capabilities, smartphones and tablet devices have significantly redefined how we work and live. It is not uncommon for people to whip out their mobile devices to browse the Internet for information on everything they see, from Nike shoes to movies such as The Hobbit: An Unexpected Journey.
It is therefore essential for businesses to be able to provide dedicated mobile sites and applications to make it easier for browsing, and hence better connecting to the target audience. This is useful for boosting product awareness, especially for enterprises with a tech-savvy target demographic, who seeks to constantly stay connected at the touch of a finger.
Make use of the cloud
Another technology that has been growing in popularity amongst businesses is the cloud. By implementing cloud-based technology such as Software-as-a-Service (SaaS), your business enjoys significant cost-savings on hardware, and also gains greater mobility and flexibility. As cloud technology is geared towards supporting a remote workforce and helps your business push towards improved efficiency, this business strategy has the “knock-on” effect of creating more sales. For more information about cloud technology and how it can benefit your business, you can read our previous article here.
What are your thoughts on these business strategies? Do you feel that you should adopt them or do you have other suggestions? Please share your thoughts in the comment box below.