5 Trend-Driven Innovation Opportunities To Budget For In 2022

The dramatic events of the last couple of years have been, on the whole, completely unexpected and revolutionary in their scope and impact. However, one sure thing has eventuated…the seeds of next year’s business direction have already been sown. One priority has been trend-drive innovation opportunities that will likely become a priority.

So, with that in mind, what trends that we have already seen the beginning of, will need to be budgeted for in terms of innovation opportunities in the coming year? Here are our 5 suggestions for 2022.

 

1.Mastering the turning of crisis into transformational opportunity

 

There is no doubt that business, especially Western businesses, have been through a period of intense crisis. Have we seen the end of that crisis? Possibly not. So, since roadblocks could continue ahead, how can you turn crisis into opportunity?

According to Ipsos, “86% would prefer to see the world change significantly – and become more sustainable and equitable – rather than revert to the status quo ante.” What does this mean for your business?

What it means, in a nutshell, is to begin the process of a ‘purposed recovery’. It will no longer be enough to try to ‘ride out the storm’, there must be a purpose to your product or service by the use of responsible innovation opportunities .. that will be seen as positively impacting your locality, and marketplace.

 

2. Incorporating mental wellness into your products or services

 

One of the most serious, yet unavoidable, consequences of the Pandemic has been a tremendous toll on mental health and well-being. Whether this has been as a result of lockdowns or loss of employment, significant pressures have arisen, which will take a very long time to dissipate.

What does this mean for your London business? The most successful goods and services will be those that are seen to be ‘givers’. This means that, for you, you need to do more than just project the image of being a ‘caring’ business, you will need to incorporate practical ways into your products and services that foster, promote, and assist mental wellbeing.

As an example: A Taxi service could focus on how their service lifts the stress of London traffic from the daily grind of the city commuter.

Has your business begun planning for promoting mental wellness in 2022? Your success, and that of your community, will rely on it.

 

3. Non-conventional gatherings for today’s new reality

 

We think that it is fair to say that, if the Pandemic had not occurred, that corporate identities such as Zoom would not have been anywhere near as successful.

A vast majority of business meetings, planning, and operations, have moved onto the digital platform. Whilst digital evolution was always going to be the way forward, the Pandemic has hastened that evolution. And, now, it is unlikely that this area will experience ‘devolution’.

With that in mind, even if the Pandemic were to instantly disappear, has your business planned for non-conventional gatherings during the coming year? It would be wise to give attention to this area.

 

4. Use Innovation Opportunities to support and empower minority communities

 

One of the most progressive of Western society’s progress in recent years has been the area of ‘equal opportunity’.

It is no longer acceptable for businesses to operate in a way that seems to favour any racial, cultural, lifestyle focused, or religiously diverse group. Some feel that perhaps the balance is a little off centre at this time. Maybe there is some truth in that, however the ‘ship will right itself’ in time.

Whether or not the support for minority groups continues in it’s current form, or adjusts to be more central in focus, remains to be seen. However, it is unlikely that the ‘genie will go back into the bottle’, so it is wise for any London business to continue to focus on supporting, and empowering minority groups.

Has your London business taken steps to recognise, and empower minority communities? It would be wise to give attention to this area.

 

5. Equal online access to all

 

It has been a long time since the net was the domain of the ‘upwardly mobile’, and this parity of classes is unlikely to become a thing of the past.

The trend in recent times has been to allow online access equally, irrespective of the net worth, or location of the individual. This trend is strong and will continue it’s progression.

What steps has your business taken to ensure that digital content, products, and services, provide innovation opportunities to all? Yes, it is true that having an open platform DOES bring the increased risk of cyber crime, hacking, and identity fraud. Unfortunately, when the internet was created, insufficient security protocols were incorporated…a mistake that we continue to pay for today. However, digital access will continue to be a focus in the coming year. This may well mean that your business will have to counter the threats that come with this by increasing your budget for online security. That is an unavoidable consequence of this trend. However, only businesses that focus on the appearance, and practice, of parity in access to online content and services will be seen as market leaders.

Therefore, plan to open up your business to all in your area, of all demographics, and you will likely have a prosperous 2022!

 

 

 

London Business Directory Comment

 

The world has experienced unprecedented change in recent times. It can seem that we are in uncharted territory, but in reality we are not.

The time that has elapsed has enabled us to have a clear vision of the direction for innovation opportunities in which we need to head. Clear trends have emerged that will affect London businesses over the next year.

However, to benefit from those trends, you need to plan now. Failure to do so could mean the difference between success and failure for your business.

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