The biggest business trends of 2015
From white label to expanding overseas, we’ve researched what the biggest and most effective business trends will be in 2015. Some have been around a while but will become a top priority this coming year, so here are the top business trends that will work in 2015.
1. White label
White label is the process where a company wants to be able to offer their clients an additional service i.e. translation, without having to expand their business and without any additional spending. They then build a partnership with a separate company who offers the service in question, so that should their client need this particular service, they can give the job to the external company at no extra cost to themselves, and at the convenience of the client.
The external company will also often give that company commission for gaining them extra work, which they can either keep as profit, or use it to offer clients discount in order to undercut the competition. The advantage to the company is that they can also provide this service, should they wish to, under their own branding, hence the term white label.
Doing white labelling means a company can become a full service provider to their clients, meaning they are often chosen above the competition for being able to fulfil all needs ‘under one roof’. In 2014 a number of companies have cottoned on to this trend, but in 2015 this trend will be unmissable. Due to the fact companies who white label are often chosen above the competition for reasons of convenience, pricing and for the fact they can gain commission from doing so, a win-win situation for everyone involved, it’s no big surprise that this will be one of the most popular business trends of 2015.
Download our white label e-book and learn about the benefits and the process.
Companies are increasingly outsourcing staff, either from abroad or domestically. The value of UK public sector outsourcing contracts increased by 168% year-on-year in the first quarter of 2014, a figure set to increase even more in 2015. Outsourcing means contracting out a business process or external staff to perform activities traditionally handled by internal staff and resources. It’s a strategy used to ensure specialized and efficient service providers which in turn has multiple benefits to a company such as; the improvement of company focus. The top 3 reason companies outsource are;
- to reduce or control costs- 44 %
- to gain access to resources unavailable internally- 34 %
- to free up internal resources- 31 %
Outsourcing abroad often means cheaper labour, meaning benefit on both sides; the Philippines, for example, became the second largest economy in Asia, largely due to many jobs being outsourced there. Looking to take advantage of these benefits, many businesses are set to adopt this strategy in 2015 and will likely flourish as a result.
3. Information security
Most businesses now store all their information in the cloud. However, due to a number of information security lapses and scandals such as wikileaks over the last few years, information security will become a top priority for businesses in 2015. The internet is an ominous place and without a full understanding of how to keep hackers at bay your information and security is at risk. New cyber regulations are being put into place in the EU.
Microsoft is the latest company to announce that it is replacing cookies with an unspecified detailed tracking system built into devices while Google reportedly has a similar system called Adld. Opting out of tracking is going to be even more difficult in future as such systems will aggressively follow users. Large corporations are also improving their ability to gather private data into big concentrated advertising databases.
4. More digital marketing
Digital forms of marketing have been slowly taking over conventional forms of marketing for years, but social media marketing and e-mail marketing is set to explode in 2015. 84% of B2B marketers now use social media in some form. 83% of marketers indicate that social media is important for their business.
Businesses have realized that the way forward is to engage customers with your brand via social media and engaging content. Mediums such as LinkedIn and twitter allow you to focus your audience through groups, through posting relevant content that will in turn gain you custom. Companies that blog also have 97% more inbound links.
5. Expanding overseas
2015 will be a big year for taking the potential of expanding your services overseas, with an economic recovery underway. If the potential to sell your product is there, why not take advantage of it? Any business in the European Union has over 500 million customers on its doorstep. Within Europe, most member countries use a common currency the Euro. This makes it easy to trade within this market place.
If you’re wondering whether your business is ready for international export, find out here.
If you’re thinking of translating your website ready for expanding overseas, read more here.
Over to you, which do you think will be the biggest business trend of 2015?
For more information about Wolfestone services:
Document translation services, Localisation services, Transcreation services, Multilingual SEO services, Proofreading, Voiceover services, Interpreting services, Multimedia services, Legal translation services, Other types of translation
The professional translation services you can trust!