Business in 2021: 5 predictions

Posted by Tilt Recruitment on December 16th, 2020

Business in 2021: 5 predictions

Posted by Tilt Recruitment on December 16, 2020

2020 has certainly been a year. With a new and hopefully better year around the corner, what can we expect 2021 to look like in business? Here are 5 tips.

  1. Customers will keep getting smarter.

Customers have had it with poor customer service. Too many companies are out there delivering a superlative customer experience; customers know we can do better.

Bad news? Not necessarily. It’s just a shift in focus; price, and sometimes even quality, is starting to come second to customer service and experience. And a world where companies vie to deliver the best service is a better world than one where they “race to the bottom” to undercut each other on price.

  1. Customers will get more impatient.

A 2020 survey found 96.2% of customers would leave over bad customer service. During a pandemic, that number isn’t going to fall. The first few months of lockdown saw customers showing patience with struggling businesses, but they now expect companies to have found their feet and be able to deliver fast – literally.

The new breed of “Now Customer,” used to next-day or same-day delivery online (sometimes in under two hours) is done with waiting on hold, waiting in line, or waiting a week for a parcel. They want it now!

  1. Convenience will be a must. We’ve known for a while that low-friction customer experiences set a company apart from the pack, but COVID-19 forced the pack to catch up. Fast online delivery is now the norm, 67% of customers are happy to pay extra for convenience, and when convenience includes delivery, the number shoots up to 90%.
  2. Home working will be the new normal. How far we’ve come! Companies that had never contemplated remote working before COVID are now shutting down offices and embracing the virtual life. Not every company will go 100% online, but for those that want to, it’s a real option.
  3. Automation and digitisation will increase. Companies will have to learn by trial and error how to balance growing automation with the human touch that drives customer loyalty. COVID has accelerated this process by 3-5 years, rushing technologies into action that were scheduled for rollout as late as 2025 – so we’re already living in the future.

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