4 Business Sectors That Are Set To Take Off
No doubt, this is a very tough time for people and businesses, everywhere.
However, the self-isolation measures enforced by COVID 19 have given opportunities for some business sectors. Of course, remote working tools have received a massive surge in usage and subscriptions, but I’d like to focus on some of the less obvious industries who, if they get it right, can really boom in this moment of unprecedented uncertainty.
Digital Fitness
Did you see that one million people tuned in for The Body Coach's online PE lessons for kids? Gyms, personal trainers and yoga teachers have had to take their service online seemingly overnight. Building a community of followers is key and contacting influencers in your field can be really beneficial here, although maybe slightly inauthentic. Digital fitness providers need to decide if they want an (online) room full of people, and therefore give classes for low cost (eg: £1) or go for a few high-value clients. If they make the right decision for their client base, their business could really boom.
E-Learning
I think we all know that the future of education is online, but with all schools and universities closing, E-learning is going to be vital right now for millions of young people. Furthermore, experts are saying, “When in-person education resumes, online learning tools and methods will be entrenched in the system”. E-learning might be the sector set to fast track the quickest as a result of the crisis.
And as I did a bit of research for this piece, I found this incredible list of free Ivy League university online courses. If you’ve got time on your hands, now’s the time to learn!
Gaming
I don't think we give enough kudos to the gaming industry. In 2019, the BBC announced that “the video games sector now accounts for more than half of the UK's entire entertainment market.” That means it’s bigger than TV, Film and Music combined! And the market share (£3.86b) isn’t just made up of FIFA’s annual release or the next Call of Duty, because there's an appetite for small indie games. With young people staying indoors this summer, gaming is only going to explode further and if you want to break into space, there’s some really intuitive mobile app game-building tools out there. I recommend Unreal Engine.
Mental Health
Self-isolation and the anxiety induced by the crisis demands that high-quality Digital Health—and specifically mental health-related products are affordable and accessible. That’s why the NHS announced a new grant scheme, Tech Force 19, to help fund new technologies that can help vulnerable people isolated by COVID19. Reach Out, the psychotherapist platform is well-timed for this and should really take off as it links people in the UK with therapists from emerging nations to provide inexpensive mental health support.
Change Is The New Normal
Every sector needs to react and adapt to the challenges COVID19 has thrown at us. There is not a business in the world who’s customer behaviour has not suddenly changed: their buying habits, how they use a product or how they access your service. That’s where we can help.
We help startups understand the changing needs of their current and future customers. We identify a business’s ideal customers and interview them to give an unbiased understanding of their customers’ exact needs. This allows a business to make quick and deliberate decisions to deliver a product or service that their customers want to buy. It is so important to properly understand what your customers are thinking in this difficult time.
Feel free to reach out to me for more info.
