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One Step Ahead Of The Curve: Innovative Business Solutions Companies Should Consider In Q1 2023
Going into 2023, plenty of lessons can be learned from the previous year. 2022 saw a lot of growth in digital markets, with the high-street market continuing to struggle in the aftermath of the impact of Covid-19.
With this in mind, we have put together this article that covers innovative business solutions that your company could make use of. If utilised right, it could help your company stay one step ahead of the curve in 2023. Let’s get started.
Subscription Solutions
A subscription service is one of the first things you should consider implementing into your business. This can work in a few different ways. You will find that many businesses now offer a subscription service, as it’s a way to make products more affordable to general consumers.
It can also allow them to bulk-buy in some cases and set up regular delivery dates. It all depends on what your business offers. There are a few different ways to offer your products via a subscription service. For example, you could offer a subscription box, that arrives each month to your customers.
It could be that you are offering a box of unique treats or goodies. There are plenty of resources and blogs out there that can explain how to start a subscription box business. Once you know more about how to start a subscription business, you will be able to adopt a subscription service into your business more easily.
Utilising a subscription service, or transforming your business into this model, could help you to get one step ahead of the curve in the changing business world. It may be a good idea to look at different businesses that offer a subscription service to gain further insight into how they work and what your potential competitors are doing.
Social Media Purchasing
More and more businesses are utilising social media. They are doing this in a more evolved way than ever before. Previously, businesses may have used social media as a marketing tool, or even for the purposes of customer service. Nowadays, you can sell good directly through social media.
Instagram, for example, has built-in tools that allow you to sell directly through a click of a picture. If you operate in the fashion industry, you could have a model dressed in your clothes. A potential customer could then click on each piece of clothing, see the price and be taken to a link to purchase.
This is just the tip of the iceberg. You can overhaul most of your social media to become a primary means of selling. Look at all the social media accounts your business uses, and research the market to see how competitors operate.
If you can utilise social media before a competitor, then this could enhance your business and help you stay one step ahead of the curve. For example, if there aren’t any businesses in your industry that are currently on TikTok, then it will probably be in your best interest to get there first. TikTok can be more quirky to operate on, but if done right, you can gain millions of views on your marketing campaign for free.
AI Tools
The world is changing, and there are newer tools entering the market that businesses could make use of to help them stay ahead of the curve. Automation and innovation are a big part of this. You can tick both of these boxes if you utilise certain AI tools.
There are multiple AI tools that your business could use. A popular form of modern AI in business use comes in the form of chatbots. These smart AI can help deal with customer concerns and offer advice based on their requests. If they can’t help, they can point the customer in the right direction.
AI will certainly play a role in the future. Soon, AI will change the tools of people managers, and AI recruitment will be more common. Sales and digital roles will also evolve further through AI. We have already seen the advancements with the computer program known as ChatGPT. This will only get better and better as it evolves.
Reward Apps
Lastly, if your company hasn’t utilised any app yet, then you will be missing out. Your business can stay one step ahead of the curve. You could create an app that helps your customers purchase goods and products.
You could also create or partner with an app to provide rewards to your loyal customers. If your customers come regularly, scan their rewards app, or do this online, they could earn points that get them discounts or freebies.
This can help attract customers to your business. You may even be able to take customers from your competitors, helping you become a market leader. Using innovative business solutions such as the ones we’ve mentioned can help enhance your business in the first quarter of the year, and keep you growing.