Pivot To 2024: 6 Tips for Leaders to Succeed in New Year
Noting new trends for 2024 can help create a successful year.
It’s time to strategize.
Looking to pivot to a successful 2024, here is the latest research on trends in social media, ecommerce, AI, workplace culture, and customer concerns that can help you shape your plans this year.
Put effort into social media content. A new study from StoryChief.io evaluating 44 U.S. firms, all are in the top 10 companies for sales in their industries, shows a mix of high engagement and poor engagement rates on social media platforms. Accenture seems to do it right with more than 913,000 Facebook likes per post.
“Looking to pivot to a successful #2024, here is the latest research on #trends in social media, ecommerce, AI, workplace culture and more. #newyear”
Investing in content can turn that around, with better blogs, visuals and real-life customer reactions and a call to action. According to Story Chief, “creative sectors that could harness their services’ visual perform worst of all top-selling B2B companies in America.”
Valeri Potchekailov, CEO of StoryChief.io, writes: “Small B2B brands generally deprioritize their communication on Facebook, perhaps in favor of LinkedIn, for lack of resources. It does not exactly scream ‘leadership’ to be a multi-billion dollar company with four likes per Facebook post.”
She adds, “Our research suggests that humanizing B2B translates into better social media engagement. Because Facebook caters predominantly towards consumers, a quick solution in terms of content is to find topics that end-consumers of your services can relate to or find useful. For example, you could highlight the company’s corporate social responsibility activities or assess the positive impact your business is having on specific communities.”
“Investing in content can turn poor #engagement around, with better blogs, visuals and real-life customer reactions and a call to action. #socialmedia”
The change will not be instant, she says, but you need to invest money and team members into the shift. “Put some money behind that good content to get the ball rolling because engagement will rarely just happen overnight, even with the most brilliant pieces of content. Keep your advertising targeting uncomplicated to make the most of your budget, stay consistent, and you will notice the changes within a few months.”
Read more in Take The Lead on AI
Invest in mobile commerce. According to new research from DHgate, defined as the leading B2B cross-border e-commerce marketplace in China, serving more than 59.6 million registered buyers from 225 countries and regions, “M-Commerce will continue to be embraced by more and more people — 99% of the world’s 4.48 billion social media users access their social media apps via mobile device.”
Echoing the importance of social media platforms for retail purchasing, DHGate reports, “Social media is an extremely viable sales platform — almost half of America’s 313+ million social media users say they would purchase a product off TikTok or Instagram.”
Industries with strong sales trends include consumer electronics, with strong impact from influencers, and short-form video.
Mind your AI. DHgate concludes that personalized experiences generated by AI can be shifted to different audiences and platforms effectively. In their new book, FAI For Brands: Embracing The Future, authors Frank Sikernitsky and Whitney Tindale, contend, “This rapid growth of AI has also had a profound impact on the world of branding and marketing, opening new opportunities and challenges for businesses looking to adapt to this ever-evolving landscape.” Use AI to generate blogs, headlines, ideas and social media posts. AI can also help with predictions studying analytics and data-driven decision making. AI can also be efficient in tracking customer sentiment and concerns, opinions, and preferences, by analyzing purchasing practices and comments on social media.
“Mind your AI. @Dhgate concludes that personalized experiences generated by #AI can be shifted to different audiences and platforms effectively. ”
There are risks and considerations using AI. “One concern is the possible loss of brand identity and consistency. This inconsistency can lead to confusion among target audiences and dilute the brand’s core message.”
You can also consider building your own smaller AI systems. Quartz reports, “There very well could be an ocean of smaller AI models designed for specific tasks, which means people might interact with different AI bots for various activities throughout their day. Ultimately, companies might find they can adopt AI in a less costly way by focusing on specific applications, said Yoon Kim, an assistant professor at the Massachusetts Institute of Technology whose research focuses on making generative AI models more efficient. “
Cost counts. With consumers and businesses concerned about inflation and expenditures, be aware that you must deliver value for the money. In the US, reports CGTN News, “More economists now have a favorable outlook for the American economy in 2024.” Additionally, “Inflation eased enough for the central bank to pause its rate hikes. U.S. inflation fell to 3.1% in November – ticking down but still above its two percent target.”
“Cost counts. With consumers and businesses concerned about #inflation and expenditures, be aware that you must deliver value for the money. #leadership”
Read more from Gloria Feldt on economic security
Mission matters. MSN.com reports, “The environmental consciousness of consumers continues to rise, and retailers are expected to respond. In 2024, sustainability will be at the forefront of retail strategies. From eco-friendly packaging to promoting ethically sourced products, retailers will integrate sustainable practices into their operations. This trend aligns with growing consumer preferences and contributes to a positive brand image.”
Read more in Take The Lead on taking a stand
Build solidarity with your team. It is of course essential that you be transparent and inclusive of all team members and make certain the work culture is welcoming and open to new ideas and new paths.
“Build solidarity with your team. It is of course essential that you be transparent and #inclusive of all team members and make certain the #workculture is welcoming.”
In their new book, Solidarity: the Past, Present and Future of a World Changing Idea, authors Leah Hunt-Hendrix and Astra Taylor write, “Without a doubt building bridges of solidarity requires patience… Solidarity means not writing anyone off completely, not throwing anyone away. It holds out hope that systems and individuals can change.”
““#Solidarity means not writing anyone off completely, not throwing anyone away. It holds out hope that systems and individuals can change.” — @Lhunthendrix and @Astradisastra.”
Takeaway of The Week:
“Solidarity means not writing anyone off completely, not throwing anyone away. It holds out hope that systems and individuals can change.”
Leah Hunt-Hendrix and Astra Taylor, authors of Solidarity: the Past, Present and Future of a World Changing Idea.
