Online Business Trends to Expect in 2019

 Alex Brian
  Feb 18, 2019

Entrepreneurs and businesses can rejoice that they have successfully seen another year pass. But it is also an opportunity to consider on the year that has passed. Look at all the highs and lows of the previous year and come up with a plan for this year. I remember an interesting quote I heard on an entrepreneurial talk show. I caught it on my Spectrum TV packages. “Businesses and business operations do not take place in a vacuum”. Meaning the constantly changing trends in the world are bound to affect the way you do business.

Trends to Watch in 2019

So you’ve successfully navigated your business through 2018. It was a year full of peaks and valleys. Now it’s time to prepare for 2019. This year, experts expect significant changes in trends in many aspects of a business. Some of these include:

  1. Techno-human balance
  2. The personal touch
  3. Blockchain trends
  4. Internet of Things
  5. Big Data
  6. Ethical algorithms
  7. Personalized marketing
  8. The growing importance of customer reviews
  9. Voice search
  10. Banking industry trends
  11. Digital banking
  12. Mobile banking
  13. Political climate
  14. Working remotely
  15. Changing customer needs

Let’s take a more detailed look at each changing trend and what it means for businesses in 2019.

Techno-human Balance

There has been an age-old concern since the Industrial Revolution. A concern that machines will ultimately, displace the human element. Technology is a self-improving system. It is constantly evolving as time goes on. You can invest in all the high-tech AI and automation you want. At the end of it, predictive analysis and data configuration still cannot replace humans. Sure AI is taking on tasks that traditionally required intensive human effort. But it will not emerge as a major upset for humans in 2019. Today, AI is not replacing humans but augmenting their efforts. AI works in tandem with humans. Both work to provide accurate information, derive accurate insights and ultimately perform better.

The Personal Touch

In 2019, genuine customer relationships are going to win over the flashiest technology. Technology is an increasingly common part of our daily lives. But more than technology, lasting relationships drive businesses and sales. Expect businesses to find more ways to connect with their customers on a personal level. Your business should try to talk with customers through different channels. Automation is useful and can save you money. But never underestimate the power of the personal touch.

Blockchain Trends

Blockchain

Blockchain is the new kid on the block (pun intended) in 2019. Business innovation is tightly merged with blockchain innovation in 2019. Blockchain is still in its infancy. But it has the potential to offer efficiency and security. Especially to sensitive business operations. It will become a good business sense to leverage blockchain in business processes. Especially as it matures and its uses expand in the coming year.

Internet of Things

Edge computing and the Internet of Things will be the defining technology of 2019. The IoT network is expanding every day. There are more and more connected devices in every home and office. When it comes to developing applications for IoT, the effects will reach different industries. Any business that prioritizes performance and reliability will be investing in edge computing. This is essential to leverage IoT. Edge computing brings the computing part of IoT devices closer to the IoT devices. The objective is to make the devices run faster, smoother and more efficiently.

Big Data

Data is the most valuable resource in the digital age. 2019 will see immense leaps in our ability to contextualize big data into meaningful information. Data science is a dense field, and not every business is in a position to hire a data expert. Instead, the time is ripe for simple, easy to use applications. Applications that will help businesses gather, analyze and use big data. These applications will be accessible, interactive and most of all usable. Especially by relevant people in an organization.

Ethical Algorithms

Business decisions these days are less flesh-and-blood and more driven by algorithms. This carries its own risks. Flawed data assumptions can cause businesses to suffer heavily. The task of building ethics into algorithms is much harder than it sounds. In 2019, ethical algorithms will treat all customers fairly. In fact, not only will customers be happier, but businesses will be risking less on data assumptions.

Personalized marketing

The trend of personalized marketing will continue well into 2019. Using the same stock images and generic copies won’t cut it anymore. To really connect with customers, businesses will need to do some out-of-the-box thinking. Starting with personalized, valuable content, marketing will start getting more personal. This will continue as time progresses.

Growing Importance of Customer Reviews

95% of online customers say user reviews influence their buying decisions. That is a huge segment of any business’ audience. 90% of online customers back off from purchases based on bad reviews or no reviews. In 2019, customer reviews will be the supreme king. Customer reviews are all set to become the biggest influence on a buying decision. Now would be a good time to set up a review forum for your business to publish good customer reviews. Businesses will also need to look into innovative campaigns. They need to leverage good reviews to get more customers.

Voice Search

Voice Search

Voice recognition has many more applications than just your phone or home assistant. Voice search is one such application. It is becoming popular because it is easy and fast to use. Instead of typing out a search query, all you have to do is say it. Smart devices like Alexa and Google Home continue to evolve. This will see voice search importance grow. Businesses need to rethink their optimization strategies. They need to start considering voice optimization as well as other SEO aspects.

Banking Industry Trends

The banking sector has already seen many changes in 2018. This trend can possibly continue in 2019 as well. One area of interest could be online payment methods. Sooner or later, the biggest fish in the pond will come up with their own payment services. Google, Amazon, and Facebook. All can potentially come up with distinct payment platforms for their services. This will disrupt the banking industry and lead to new rules and regulations.

Digital Banking

2019 can expect to see a massive shift towards digital banking. 21st-century consumers want to bank whenever and wherever convenient. Time and physical restrictions mean nothing to them. This is something that is in conflict with traditional banking models. Digital banking is continuing to grow and attract more customers as the new year arrives. Traditional physical banks will gradually phase out. They will be replaced by digital versions. Your phone may become your wallet in every sense of the word.

Mobile Banking

As more people turn to mobile banking, the risk of mobile cyber attacks grows. The risk of attack on mobile devices will only continue to grow in 2019. 80% of banking customers are already using online banking. 50% of these do it on mobile devices. This number is only going to grow in the coming year. More mobile banking customers mean more attacks and a need for stronger security.

Political Climate

We are living in turbulent times, there is no doubt about that. But one thing you can safely count on is that the current political climate favors businesses. Regulations and policies undergo revisions to benefit businesses and entrepreneurs. The current government is trying to prop up the economy. In such a climate, business growth can really drive economic growth on a national level. At the same time, with Democrats and Republicans at loggerheads, businesses stand to benefit the most.

Working Remotely

Commuting to and from work takes up a lot of time that could be used productively. 2019 will see a shift towards working remotely, saving commute time and effort. Businesses will need to innovate and find new ways to share information. Not to mention new ways to collaborate. Communication, both internal and external, will go through a dramatic change in 2019.

Changing Customer Needs

The 21st Century customer is almost spoilt for choice. With so many options to choose from, customers tend to go with a business that prioritizes service quality and delivery. Customers these days prefer businesses that can offer them a seamless service experience. An experience that is efficient and personalized. This is true for every aspect of consumer behavior. Think of it this way. Would you stay a loyal customer if AT&T customer service could not help you? Would you order lunch from a restaurant that takes hours to deliver? Would you get your car repaired from a repair shop that has poor service? Would you make a financial transaction with a party that cannot deliver on its end of the bargain? In 2019, even the largest market leaders will fall behind. And the companies that can adapt to changing customer needs will become the new leaders.

Online Business Trends to Expect in 2019

Alex Brian

Hi I'm Lan. I am a professional content writer/blogger with lots of articles published on different websites across the web. I write about tech, lifestyle, entertainment, news and sports.

Popular posts

Why Buy a New Nissan With Purchasing Extended Warranty
Sep 19, 2019
What Do Mice Eat? Surprising Facts About Mice
Sep 20, 2019
What Do Foxes Eat? Unknown Diet & Habitat

What Do Foxes Eat? Unknown Diet & Habitat

In this article, you will discover what do foxes eat? The foxes belong to the Canidae family. Their appearance resembles the dogs. Moreover, foxes have many similarities wi...

Sep 19, 2019
Top 6 Must-know Tips for Renting Forklift Products
Sep 20, 2019
  • Add Comment