2018 Business Predictions
The start of the year is the time for predictions – and here are three predictions for business in 2018 that I consider safe bets. Why? Because “everyone” talks about them (the definition of hype), but not all of them are equally relevant. That’s already my fourth prediction. So here it goes, sorted by number of letters in the abbreviations (consultants love these, makes it a bit more scientific I guess or just less transparent for their clients):
AI (Artificial Intelligence):
AI was a huge buzzword in 2017 and many of us scrambled to try to make sense of its potential and impact for business-to-business companies. This will repeat itself in 2018 – simply because it’s not sufficiently developed yet. Lots of good intentions, but not quite there yet. So maybe we could say “Close, but no cigar”, so keep looking into it, but if you don’t implement AI in 2018 you will not be left behind.
ABM (Account Based Marketing):
What does it mean? Well, here’s a definition: “ABM is the practice of identifying key accounts and/or high value prospects with coordinated marketing programs. Marketing technology enables account-based marketing by allowing sales and marketing teams to effectively scale efforts and communicate targeted messages to similar accounts.” What’s the news? Maybe that they want us to buy new software, because the basic concept of AMB has been known for decades. So don’t get fooled. ABM is interesting and relevant, but it’s not all that glitters that’s gold.
GDPR (General Data Protection Regulation):
The EU’s General Data Protection Regulation has made some waves in the last few months. The regulation, which carries provisions that require businesses to protect the personal data and privacy of EU citizens (like e.g. customers and prospects), is set to take effect on May 25, 2018. This is not only the real deal, it’s also a big deal. You need to figure out how your company in general, and sales and marketing in particular, can live up to this new regulation. If you don’t you risk to pay heavily.
That’s it for my predictions for 2018. More of the same – and on top of that GDPR that you really need to “master”, the sooner the better.
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