Whether it comes to your core business operations, marketing, communications or product/service lines, it’s key to your company’s success that you keep a close eye on emerging trends across the board.
By monitoring the latest developments in technology, client patterns and general opinion and receptiveness to certain ideas, you’ll be giving your brand the best possible chance of success moving forward.
And while all that might seem to be pretty straightforward, there’s actually a lot more to it than you might think. The phrase “trends” is one that has become widely used when referring to social media in the modern world, but it’s just as relevant when it comes to other aspects of your business.
Regardless of which trends you want to keep on top of, we’ve put together some emerging trends monitoring tips to ensure that nothing passes you by:
Pay Close Attention to Your Social Networks’ Emerging Trends
We’ll start with the most “modern” use of the word, by applying it to social media. Unless you’ve been living under a rock, you will, at the very least, have heard about Twitter’s “trending topics” at least a handful of times over the last few years. Essentially, this refers to topics that are being discussed by a large volume of people at any given time.
In order to leverage this kind of information for business purposes, it pays to monitor a range of relevant social media channels, groups and outlets, with a variety of metrics to find out what is resonating with your target markets, what your competitors are up to, and how your industry as a whole is evolving.
Identifying a trend early can be hugely important to the success of future products, services and marketing campaigns – but, be warned, it can be tricky to sort the wheat from the chaff through all the regular social media noise!
Read a Wide Variety of Publications
If social media is the high tech approach to monitoring trends, then traditional publications are most definitely its low tech counterpart! However, just because digital content is becoming increasingly ubiquitous doesn’t mean you should ignore print, because there’s a huge amount of information and data to be found by religiously scouring a wide variety of publications each month.
Checking out industry-related publications will help to give you an insight into the way your market is moving, and can definitely help you to identify ways to improve or evolve your business in the short term. It’s also worthwhile to keep an eye on non-industry related publications, or at the very least ones that only loosely pertain to your business model, as these may offer you unique insights into techniques, concepts and campaigns that you might otherwise have missed.
Monitor Your Competitors
It’s absolutely essential that you know as much about your competitors as possible: how they work, how they advertise, the social media channels they use and the reach they have when it comes to speaking to customers/potential customers.
By keeping a close eye on your more forward-thinking competition, you should be able to decrease your chances of being blindsided by their early adoption of a new social media network, or a change in their advertising policy in an attempt to corner a new section of the market.
Boundless Productions’ team is always on hand to help you set up, track and report emerging trends that affect your company. If you’d like to learn more, you can email us at firstname.lastname@example.org, or give us a call directly on 1877.617.2811.