Dec 20, 2021
It’s been another roller-coaster year for businesses and organisations across Australia and around the world. From managing the ongoing impact of the pandemic and dealing with lockdown restrictions to battling changes in consumer behaviour and expectations - business, marketing and HR leaders have all had to adapt to change. Despite not being able to predict the future, it’s important for businesses to forecast in order to plan and prepare for success. Here are our five predictions for businesses in 2022.
It's often said that getting existing customers back in the door is easier than trying to attract new potential buyers. Moreover, businesses are likely to have smaller marketing budgets compared to pre-pandemic levels. With that in mind, businesses will focus time and resources on strengthening their customer retention strategy and may introduce or reinvent their loyalty programs.
Employees have expressed their desire for flexibility including working from home. Hence, forcing employees back into the office 5 days per week probably won’t do you any favours. Businesses need to consider a new hybrid work model to prevent an exodus of your best talent. One way to manage this is to have a clear process for tracking who is working from home and who is working in the office. If your business has more hotdesks compared to pre-pandemic levels, then being able to reserve workspace before commuting to the office and checking in using QR codes will be essential to successful contact tracing.
There’s the old saying that cash is king. However, in order to promote safe hygiene practices, businesses are now preferring contactless payment methods. Unsurprisingly, contactless payment using digital wallets has risen significantly during the pandemic and is likely to continue rising in 2022.
Businesses with physical stores that experienced lockdown restrictions will focus on driving in-store traffic. What’s more, given the rise in digital wallet usage around the globe, marketers are likely to explore new ways to promote their business, such as geo-targeted offers targeting near-by customers.
Focusing solely on email and social media to communicate with customers will no longer make the cut. The ability to incorporate omnichannel experiences to interact with customers will be critical to success. An increasingly popular channel for marketers is the use of company-branded digital wallets, which can be used to promote Card Linked Offers to existing customers via their mobile devices.
If there's one thing that is certain, that is the future is uncertain. However, forecasting the future is an essential part of the planning process for any business. If your business needs help with its planning, then contact our team today to discuss your goals.
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