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Entrepreneurship is constantly evolving, with technological advancements driving accelerated growth. This article will explore a selection of entrepreneurship trends that are tipped to feature prominently throughout 2023.
Content in Multiple Formats
The average consumer spends more than seven hours a day engaging with media. This can involve anything from reading blogs to viewing videos and listening to podcasts. For entrepreneurs, this presents a huge opportunity to repurpose or recycle existing content, enabling businesses to reach as many potential customers as possible.
For example, a single podcast could be used to create a video version, as well as a transcription for publishing in an article or blog post, with snippets posted on social media. Old blog posts can be converted into webinars, video tutorials or newsletter content.
Publishing the same content in multiple formats not only frees entrepreneurs from the burden of brainstorming and crafting new content, but it also enables them to put a fresh spin on existing, top-performing content.
Email Marketing
With so much focus on other digital marketing channels in recent years, many businesses have placed email marketing on the back burner. However, it is a reliable, cost-effective means for businesses to broaden their reach, with research suggesting that for every $1 a business invests in email marketing, they could earn $42, representing an impressive ROI for any marketing strategy.
Businesses own their mailing lists, which is not the case with advertising on social media. Email marketing is making a big comeback, with HubSpot reporting that some 73% of millennials rate email above any other communication method as a means of hearing from their favorite brands.
For business owners seeking to grow their email list, effective strategies include publishing engaging and incentivized CTAs on landing pages and setting up scroll boxes encouraging visitors to download e-books or guides.
Mobile Optimization
According to data gathered by Google, 50% of smartphone shopping apps are used at least once a week. Google predicts that by 2025, global consumer mobile spending will top $728 billion.
Success online depends on companies increasing their investment in mobile optimization, ensuring that mobile versions of online stores are easy to navigate – reflecting the capabilities of the desktop version and preferably working consistently between the two.
GigEconomy
Platforms such as Upwork present the opportunity for people with in-demand skills to advertise themselves, working as independent contractors and building their own businesses rather than being tied to a nine-to-five job. Experts predict that this trend will continue throughout 2023 as increasing numbers of workers feel empowered to launch their own businesses, working on a per-job basis rather than relying on monthly salaries.
For many freelancers, this presents the scope to work remotely from anywhere in the world, hailing a new era of digital nomadism and enabling entrepreneurs to focus on working with freelancers with the best skills rather than being restricted by physical location.
Technology
Serial entrepreneur Roman Semiokhin leverages his position to advance societal causes through meaningful charitable giving. In Cyprus, Mr Semiokhin donated €1 million to fund the fight against COVID-19. One of his goals is to create an innovative educational institution in the country, harnessing the latest research and leveraging cutting-edge technology to develop innovative new ways to deliver effective learning.
As Roman Semiokhin will be well aware, with technology evolving at an accelerated pace, businesses need employees who can help them take advantage of new possibilities without needing to compromise.
As cloud computing soars in popularity, businesses need cybersecurity experts to help them safeguard critical business data. Collaborating with niche tech enables business experts to develop exciting new products and gain a competitive edge. Meanwhile, deploying automated assistants or hiring virtual assistants relieves founders of the burden of admin, enabling them to focus on innovation and business growth.
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