Future of Tech Startups in 2021 and Beyond

  • 23rd Feb'21
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A tech startup is a company that brings technology products or services to market. 2020 has changed the functioning and working of many sectors: some faced a huge loss while some hiked an impressive profit. This crisis period has given people so much time that they were looking for things to pass the time. And this has pushed even older sections of our society towards technology and its usage. Tech companies like gaming, podcasting, conversational AI among others have gained a lot of limelight in the pandemic.

Well! The fluctuation in profits and revenue is a part of the business.

There are some changes and trends that tech startups expect next year and in the years to come. Some of them are: 

 

1. Customer support

The covid-19 pandemic has changed people's lifestyles a lot. A few things have been added to their daily routine, and a few have been removed. And these changes have somehow brought a change in consumer behaviour as well. That’s the reason companies will be more focused on knowing their consumer’s opinions and views on their services and products and providing all the assistance they need.

In March 2020, when the pandemic was new, representatives from European travel startups shared in a TechCrunch interview that they’ve been working double-time focusing on customer service. Now, the pandemic is on the verge of ending, and people are getting back to normal though the infection threat is still there, the company will need to know customers’ requirements and work accordingly.

 

Must-read: 2 Things You Should Do Before Starting a Business in 2021


 

Go through the below links to know more about customer support:

 

  • What is customer support?

Customer support is a team of people who provide help to customers in resolving technical problems that they may have with a product or service. It is an act of providing timely, empathetic help that keeps customers’ needs at the forefront of every interaction. It is an important factor for the smooth functioning of any company as it helps you to resolve customer issues quickly and effectively and drives customer satisfaction. Read more.

  • Ways to Improve your customer support experience

A business is known due to its customers and they are one of the most important factors for business growth. Your customers know you based on the services you provide so it is important to leave a positive impact on them. Always remember, a happy customer brings you more benefits. So, here are some tips to help you in improving customer support experience.

 

2. Creating significant social impact

Every business is supposed to give a little share for the development of society and this is often referred to as corporate social responsibility. People have made money because of the profit they make, but they have become an inspiration to many due to their service and zeal to bring a change in society.

Every coin has two sides! Similarly, with day-to-day development, there are some kind of drawbacks attached to it, especially now, because Covid-19 has given a hard time to everyone. In such a situation, everyone wants to contribute their part for the benefit of society directly or indirectly. Business gets benefits from society, and in return, they take steps for the upliftment of society. So, indeed people will be more inclined towards businesses creating a social impact. 

Source: Marketing91

 

Visit the below links to know about social impact:

 

  • What is social impact?

We often hear people saying we prefer a company or brand which makes a difference. Also, businesses address that they are making a social impact, but what do they mean? Click to know about social impact.

  • Ways to Create Social Impact

Every day people try to make a difference by their work. The social impact of a business's operations is viewed not just externally but internally also. Learn some ways to create a positive social impact in your community.

  • Navigating a Profitable eCommerce Business with a Social Mission

With so much happening around you, you may find it confusing what social change you should invest in. e-commerce businesses are in head-to-head competition, and in such situations, you must have a strong USP to stand out top the list. Read more.

 

3. Tech startups will embrace AI more

 

Forget about tech startups; nowadays, every business is introducing AI in their business. Artificial intelligence has been a bigger part of the tech industry for years, but its presence will be more significant in 2021 and the coming years. Not only that, in the next 10 years AI will help tech startups compete with well-established companies.

 

4. Working remotely will be a regular practice

One thing covid-19 taught us all is working from home. Businesses now know and trust their employees more and believe that they can play their part for companies very well, even when they are working remotely. Companies will now give flexible work hours to their employees and also promote remote working.
 

5. New ways to improve employees’ wellbeing

 

People get badly affected by the pandemic, financially as well as mentally. In 2021 and years to come, businesses will indeed focus on their employee's well-being. Understanding technology is a tough job, and in this condition, companies can not afford to lose their experts. Many SAAS tech companies will introduce programs related to work-life balance. Also, the companies will craft activities that will help employees’ keep their spirits up for their general wellness.

In the coming years, we will see that companies will be more focused on keeping their employees engaged and encourage them to embrace a positive outlook which will help them in improving their health and mental wellbeing.

 

We, at OpenGrowth, are continually looking for trending startups in the ecosystem. If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to our other blogs. 

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Jyotshana Rani, OpenGrowth Content Team

Jyotsana is very keen to express her views on new topics and wants readers to remember her through her writing. She is passionate about reading and believes that words wield the power of changing the scenario and she uses them to encourage people to the best of her knowledge.


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