The holiday season is upon us. For businesses and customers, this is easily the busiest time of the year. Early shoppers looking to snag deals mean that brands have to start putting together effective Christmas campaign ideas if they want to take advantage of the seasonal rush.
Running a business in today’s economic climate requires a lot of planning and consideration. You need to be able to provide value to your customers consistently while keeping your costs down. Large corporations have it easy: with dedicated departments for various aspects of their business, they have the resources needed to maximize their profits, and ensure great customer service, while also marketing themselves.
Given all that, how are small to medium-sized businesses supposed to compete when they only have access to limited resources? What they could do is work with industry experts who understand their needs and provide support through creative process outsourcing (CPO).
Formerly known as the lip-sync social media platform Musical.ly, ByteDance officially released Tiktok in 2018, intending to further video-focused networking to a global scale. TikTok has changed consumer engagement in just a few years by using a unique algorithmic feed of short videos based on the users' likes and interests.
In 2019, Deloitte released a report that showed the retail industry is facing an increase in debt and expenses but a decrease in revenue growth and asset turnover. When the pandemic hit, these shaky financial foundations started to crumble. As the months progressed, many small to medium businesses were forced to file for bankruptcy and close down.
People who wish to manage their schedules, finances, and services often become solopreneurs and run their businesses independently. Finally, you are your boss. According to MBO Partners’ 2019 State of Independence, 82% of solopreneurs are happier with their setup than when they worked in a traditional setting.
The start of the new decade has brought on both challenges and opportunities on a global scale. For instance, the “new normal” forced people to limit physical movements, giving way to the rise of online transactions. Consequently, the online consumer market has grown significantly, while the competition for eCommerce businesses has been tighter.