Social media isn’t the only place to find the latest trends. When taking a look at the business world as a whole over the last 12-month period, you’ll find a number of trends and initiatives that took hold of a large number of organizations. Whether it’s increased flexibility or organic lead capture, these trends grew popular for a reason—but will their popularity carry over into the new year?
To share their predictions, nine members of Young Entrepreneur Council each discuss one business trend they saw really take hold in 2022 and why they think we will—or will not—continue to see this trend in 2023.
Members pictured from left to right.
Photos courtesy of the individual members.
1. Omnichannel Marketing
“Omnichannel marketing” has been the buzz term of the year. I suspect it will not only rule through 2023, but far beyond as well. With the continued rise of e-commerce since the pandemic, business owners are facing stronger-than-ever competition. Therefore, they are looking for as many ways to reach as many consumers as possible. On the other hand, consumers will have an ever-increasing amount of messages directed at them. This means that to build a successful brand in 2023, you will need to ensure that your strategy, messaging and visual identity are congruent across all online and offline touchpoints. Preparing this robust and scalable foundation will ensure that your business really shines in your omnichannel efforts. – Daria Gonzalez, Wunderdogs
2. Flexibility For Staff And Customers
One business trend that really took hold was increased flexibility—both within the workforce as shown by the rise of gig workers, adaptable workweeks and more, and within how businesses show up for their customers. Many service businesses expanded to offer virtual appointments or services in clients’ homes in addition to—or instead of—their traditional service locations. I don’t see this trend stopping anytime soon because now that customers have the flexibility of having their needs met in the comfort and convenience of their home, they don’t want to go back. – Diana Goodwin, MarketBox
3. Treating Others With More Respect
Companies are really starting to wake up to the bottom-line value of treating people with respect. We’ve all seen funny movies set in the workplace where the horrible boss character treats their staff horribly only to turn around and smile broadly at a paying customer. However, a worldwide pandemic followed by the Great Resignation made it plain that people are only too willing to take their skills and business elsewhere. Most simply refuse to put up with bad behavior. At the macro level, companies are reevaluating partnerships with other companies, spokespeople and celebrity endorsements. In short, no one—staff, customers, partners—feels “trapped” anymore. Even if enhancing respect stems from an underlying motivation for profit, it’s refreshing to see kindness invade the marketplace. – John Rampton, Calendar
4. Data-Driven Decision-Making
One of the biggest trends I saw in 2022 was a move toward more data-driven decision-making. I think that’s probably because of the increasing availability of data—especially through social media—and the growing use of machine learning to analyze it. This has led to some pretty interesting things, like being able to predict when someone will leave their job based on what they post on Facebook. We’re still not fully there yet, but I think it’s something we’ll see continue to trend in 2023 and beyond. – Brian Greenberg, Insurist
5. Side Hustles As Alternative Income
One of the most notable changes is the way that people are now turning to alternative sources of income. In the past, people might have had a full-time job, but now many are relying on their side hustles to make ends meet. These could be anything from selling products online to providing services such as tutoring or dog walking. What’s interesting is that this trend doesn’t seem to be slowing down. If anything, it’s picking up speed. I think this is because people have realized that they can’t always rely on one source of income, so it’s important to have multiple streams of income. I think this trend will continue to grow in 2023 and beyond. More and more people are becoming entrepreneurial and are looking for ways to make money outside of the traditional 9–to-5 schedule. – Abhijeet Kaldate, Astra WordPress Theme
6. Social Selling
Social selling and selling using social proof really took off in 2022, and with so many social media updates offering social selling capabilities, this trend should certainly continue in 2023. As an entrepreneur who specializes in SEO and content services, I’ve found it really interesting to incorporate social proof on websites and e-commerce platforms. Where more social selling is in play, obtaining social proof is easier. Having peer endorsements and testimonials is one of the strongest ways to leverage growth. It is an excellent way to strategically reach a larger audience that is interested in your products and services because of friends and colleagues. People feel more comfortable buying when they see other satisfied customers or friends. – Matthew Capala, Alphametic
7. Hiring For Precise Skill Sets
In 2022, I noticed more employers hiring specialized employees instead of someone who can do multiple jobs. I believe this is because brand leaders want to have strong people in most, if not all, of their open positions. When someone is experienced with one thing—say, social media marketing—that’s where they will spend the majority of their time. It doesn’t make sense to pull away someone with such a strong skill set to do something that they may not be as good at, like writing a blog post. Of course, it’s important to encourage people to cross-train if they’re interested. But as a general rule, it seems like most employers are looking for new hires with precise skill sets for specific jobs. – Chris Christoff, MonsterInsights
8. Organic Lead Capture
The one business trend that I saw really take hold in 2022 was businesses striving to capture leads organically rather than using other marketing tactics. It was surprising for me to find marketers ditching the methods they relied on for years, such as paid marketing and sourcing leads via third parties, and focusing on content-driven strategies to gain traction. The leads captured organically are generally of better quality as they are nurtured through relevant content. So, their conversion is comparatively high. This trend will continue to grow in 2023 as marketers will continue to explore the true power of content. – Stephanie Wells, Formidable Forms
9. Remote Work As Positive Work Culture
In 2020, remote work emerged amid a worldwide pandemic. Now, it is a sign of a positive work culture. Companies that wish to be positioned as leaders in 2022 cannot ignore offering remote work or hybrid positions. Emotional salary has become more valuable and will continue to evolve in 2023 as part of the compensation package expected by workers. – Alfredo Atanacio, Uassist.ME