Global economic growth is expected to reach 3.3% this year, largely thanks to massive innovation and integration of new technologies that increase business efficiency. This is good news --- after the Covid-19 pandemic, the world went through some acceptance that resulted in a state of surrender to the unknown and unavoidable, with no clear strategy for moving beyond. In terms of business, this is a powerful stimulus for innovation, which means risk is no longer something to be feared, but embraced. 2025 is set to advance that trend and even take it a step further.
Positioning
Before taking on any risks, businesses need to think about where they stand and how their customers view them. Positioning is taking center stage --- consumers are evolving and placing more emphasis on a blend of product quality, brand standing, competitive nature, and their impact on the environment. Studies show that products with environmental, social and governance (ESG) related claims on packaging and marketing materials sell much better than their counterparts and boost positioning. This means brands must think about new marketing ways and how they can cater to their clients' mentality, not the revenue charts at the office.
Appeasing
Following up the trend is the need to stand out and play into the circular economy. Clients upped their prioritizing of socially and environmentally responsible products by 71% in just 5 years, and 55% are willing to pay more for products like this --- a clear path to profit maximization.
Hyper-personalization of the customer experience is the key to attracting, retaining, and developing clients. Brands must always remember that clients are not just buying a product --- they are after the whole experience of acquiring something that pampers their emotions and makes them feel satisfied.
Analyzing
Analysis is the key to understanding what clients want, when and why. This is why companies must focus on leveraging DDDM, or data-driven decision-making solutions. Up to 95% of businesses are facing challenges in dealing with unstructured data. Innovation will dominate the playing field in 2025 in the form of AI and automation of processes for analyzing massive data sets to generate insights into potential opportunities.
Evolving
Business evolution in 2025 will come hand in hand with AI and big data, since these new technologies allow companies to create advanced analytics and gain insights and forecasts in real-time to build client-centered business strategies. Ultimately, a business must never be a chore, but a journey of discovery and satisfaction of the target audience to create an aura of pleasure and positivity.
Author:
Michael Jerlis, EMCD Founder and CEO. One of the top crypto entrepreneurs under 35 according to Investing.com. Business advisor and NFT collector, prominent media expert and blockchain and Web3 speaker.
Date: March, 24, 2024
