29 Jun

The Business Landscape Of 2016

Posted in Small Business Advertising on 29.06.16 by John Meloche

A few blogs ago, we talked about the modern business world today vis a vis social commerce. This is just one of the many hot trends present in today’s marketplace. So let’s look at some other notable trends in today’s business landscape.

  • Skewed Demographics. Baby boomers have always dominated the marketplace, however with their increased age their market force is declining. That being said these boomers are still outnumbering their youth counterparts, providing a skewed age pyramid. This still leaves a debate for how impactful the baby boomer demographic will be. A cohort of their size will surely remain prominent even after their departure from the marketplace. The Baby Boomer cohort will certainly provide more opportunities for elderly care, pharmaceuticals, etc.
  • Social Commerce. We touched on this before, but it’s so important that we have to bring it up again. Social media is a hub for mass communication. In today’s world, it would be much easier to reach a teenager over social media than anything else. In addition to offering maximum reach, numerous social media platforms provide specialized advertising programs that essentially allow you to advertise to exactly the person you want to target. It’s actually amazing how effective this advertising may be and it will only continue to impress.
  • Diversified Advertising. When you mention social commerce, it’s hard to neglect the effectiveness of online advertising. This in turn may create questions surrounding our traditional advertising platforms such as the television. We’ve relied on TV commercials for ever. However there is a change occurring and the TV may not be a part of it. With the rise of streaming media platforms such as Netflix, Crave, Shomi, etc., there’s no doubt TV ratings have taken a fall. A piece by Mike Vago from avclub.com discusses how even the Cabletelevision Advertising Bureau has admitted that the audience for live TV is dropping at a rate of roughly 10% per year. Television ads are used for mass advertising, however with a dwindling audience, it may be ideal to start looking for new advertising mediums.

The business world of 2016 is dynamic; trends are starting and ending every day. However these trends are here to stay. This market is not synonymous with ones we’ve seen 30,20, or even 10 years ago. So if you want to succeed today, you may need to abandon traditional business proceedings and lose that old school mindset.

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