In order to stay competitive, you need to identify emerging trends, and market your product towards them. Here are four techniques you can use to get ahead of your competitors.
If a lot of people are searching for something in Google, it’s likely popular. Try using a relatively inexpensive SEO tool like Moz to enter keywords in your industry to identify emerging patterns in people’s searching behavior. One strategy is to go after terms that are niche. Certain topics may not have a ton of search volume, but if they’re picking up steam, it’s likely they will soon. Identifying these gems is a great way to find places where your business could fill a market gap.
Measure the Effectiveness of Your Marketing
Gathering data can really help maximize your marketing budget by helping you design marketing that reaches and resonates with your audience. Depending on your industry, your audience, your goals, and even the size of your company, different tools and metrics will be important to you to identify trends. To break it down more specifically, you can use tools like Google AdWords and Moz to better pinpoint exact keywords and queries, and from there, you can analyze the big picture and the smaller picture to evolve with those trends.
Track Influencers and Publications
Influencers can drive demand for products and services. Keeping track of them allows you to be able to emerge strong in the business world. Another thing to keep your eye on is research publications. These can be a good indication of where technologies are advancing or give you an idea for how you can make a splash as a startup company. Read up on available trend reports and think of ways that you can improve upon their ideas.
If there are competitors to your business plan, take the time to observe their strategies. It’s easier to refine something than it is to completely reinvent it. Consider this strategy as a way to get a leg up without having to start at the bottom. You may even be able to poach some of their customers by offering a similar product at a better deal. Once you’ve established yourself, you can divert funds into your research efforts.