There are many ways that businesses can improve on their bottom line, with the obvious things being astute financial management, better customer satisfaction and of course observing and remaining abreast of new trends.
So, what will be some of the new trends following the devastating impact of a pandemic that almost crippled business in 2020? Some are a direct result of the pandemic and some a result of on-going advancements in technology and improved business practices. Here are 4 ways the steel industry can do better business in 2021…
Cocooning has improved our virtual capabilities
The steel industry, like many others, can benefit from the lessons learned as a result of the pandemic. We have learned to operate virtually, saving money in many areas like transport costs, less administrative office space and even attending international virtual events online as opposed to travelling to them. The industry can benefit from maintaining many of these practices and the savings they impart.
Social Media and online marketing can be your friend
Many trends in social media can be advantageous, providing you obtain the assistance of experts in this area. Google searches, creating blogs, podcasts and videos for an organic marketing and most importantly utilising Social media to maintain a good reputation and good customer relationships.
Virtual reality has changed the way we engage with people and market our products. Artificial intelligence, chatbots and in particular 3D printing have entirely changed the face of the steel industry for manufacturers of all steel products. All steel manufacturers need to keep abreast of the latest trends and embrace these new technologies to succeed in the 21st century.
Outsourcing is an international trend
Due to the rapid shift to virtual business practices many industries, like the steel industry, are outsourcing online services. One that is particularly useful is hiring Virtual Assistants as opposed to new permanent staff. They charge only for the specific work done, thereby saving employees unnecessary expenditure for recruiting, training, HR services and of course sick leave, holiday pay and year-end bonuses!
The Virtual Assistants that do it all