New Business Challenges for 2017
2016 was an incredibly dramatic year in the world of politics, and it’s expected that the shockwaves from events like Brexit and the Trump presidency will continue to be felt throughout 2017.
It comes at a tough time for many businesses who had only just managed to pick themselves up after the economic recession of 2008/9. And so the question remains of how we can cope with the unpredictable nature of business in 2017.
What’s interesting is that despite the political fallout, many of the world’s economies are enjoying a period of surprising success. The American dollar is incredibly strong, and the European economy has bounced back thanks to an increased consumer confidence that will be of great comfort for anyone running a small business.
Much of this confidence can be derived from the fact that energy prices are still relatively low, as well as the ‘now is a good time to buy’ mantra that has been a dominant theme ahead of some potentially momentous political changes.
Whilst many people have blamed online technologies for much of the political chaos, it’s clear that the free flow of information has helped energize many previously dormant industries.
Away from the multinational companies like Apple, Amazon, and Google, there’s been a marked trend of smaller businesses using new tech to revitalize the way that we consume everything from the latest cinema releases to casino games.
Whilst we have all heard of Netflix, there have also been the likes of MUBI that offers a specially curated selection of arthouse movies. And it’s this way that digital technologies allow niche audiences to be better catered for that give hope to many small business owners.
And when you consider that even something as iconic as the Hippodrome Casino in London could be given a 21st century online revamp courtesy of the casino gaming brand, it shows that there are few things that can’t be successfully be brought up to date.
Understanding your Audience
Above all, it’s how we are using Big Data to greater understand the needs and desires of our fragmented audiences that are perhaps the most illuminating aspect of running a small business in 2017.
Thanks to powerful tools like Google Analytics and Facebook Insights we can all find out more about what features, promotions and products resonate most strongly with our audiences.
So although it seems that we may have problems in trying to judge the political mood of our planet, when it comes to promoting online casino games, curated movies, and cool photo editing tools, we are being better served than ever.