In the fast-moving digital world where trends move in and out of fashion at increasingly drastic paces, it’s becoming more and more difficult to keep up. However, keeping up is essential for any business, especially one with a social media presence, to stay in touch with current events. Not doing so can have dire effects on staff, finances, and marketing campaigns.
Keeping up with industry changes will help your business stay ahead of the ball and outrun the competition. Imagine if your drop shipping company was able to predict the Fidget Spinner trend? Or if your Teespring shirt design featured a reference to Despacito before the music video became the biggest of all time?
Luckily, there are numerous ways your business can keep in touch with what’s going on around the world and effectively make accurate predictions that will benefit your business. Here are four.
Watch The Competition
While it is difficult to figure out exactly what another business is doing without having a look inside, even when they’re in the same sector as you, deciphering their behavior can help you figure out whether they’re catching onto a certain trend and succeeding from it. It is also worth noting their failures and understanding where they went wrong in order to not suffer the same fate.
Take the infamous “notch” that was popularized by Apple’s iPhone X. The vast majority of smartphone manufacturers are now imitating the design and receiving backlash by consumers for it. Chinese OEM Meizu, on the other hand, has stuck to a more traditional, notch-free design for the latest handset and has received praise in the media for it.
Read The News
In today’s snarky, opinion-fueled world of journalism, reading the news is no longer as simple as it was. Many headlines are now written in a way that represents the newsroom’s motives or opinions, as opposed to more objective viewpoints. This can either harm or benefit your business.
If the opinion is that of the majority, it is one worth following in your next move. If not, you could receive backlash. Be sure to cross-reference numerous websites and stick to reputable names like worldnewshub.org. This way, you can rest assured that the news you’re reading is news and not just someone’s opinion.
Listen to your employees and see what they have to say. Head out to talks, events, and conferences to hear different opinions and perspectives. No matter how knowledgeable you may think you are, there’s always someone out there who knows a thing or two about the industry that you don’t. It’s also important to be open to opinions and facts that don’t satisfy your confirmation bias.
See What Consumers Think
Whether you’re selling a product or a service, your most important source of information should always be the consumer. Read product forums, scour the web for reviews and watch customers videos to understand exactly what they like and don’t like.
It’s clear that, while fast-paced and demanding, keeping in touch and accurately predicting trends isn’t impossible. Do it right and your staff, customers, and wallet will thank you for it.