Marketing is not an exact science; in fact, it is quite the opposite. You may have all the best strategies and advertising methods, but if you do not understand the target, you will never be able to reach it. The old saying that knowledge is power has never been more true than in the realm of marketing. No matter how smart a business owner is, no matter what tools and resources they have, without knowing where their customer is going, their strategy will be completely worthless. Yet, many companies fail to take advantage of this important piece of the pie.
Trend analysis is the key to understanding trends in your market. If you understand what makes a consumer tick, you can then capitalize on their purchasing behavior. Make no mistake: marketing is moving quickly and consumer behaviors and interests are extremely hard to predict. Marketers cannot hang their hats on the latest statistics and expect to succeed. They need to understand where their customers are going, and this requires digging down deep into the consumer’s psyche to find out what drives them to buy, where they like to buy, how much they spend, and what they are hungry for right now.
Trend analysis is nothing more than figuring out what is currently working for your company and creating a marketing campaign that focuses on these hot trends. Of course, it takes more than just using Google Trends to draw your audience or site in; you need to know which marketing strategies will work best for your company. In the end, you must use proven and trusted techniques for leveraging trends to your advantage. There are plenty of tools available that can help you do this; however, the following are some of the most popular:
The first step in leveraging trends to your advantage is knowing how to interpret them. For example, if you notice a rise in searches for a particular product line, you should use this as a jumping off point. You should ask yourself questions like: Does this mean more people are using this strategy? Are they only using this strategy in a certain geographic location? What industries are most vulnerable to this type of marketing?
Once you have determined what the trend means, you can start applying tactics to make sure your company is positioned to take advantage of the trend. One of the best ways to position yourself is to test the strategy in various forms. For example, you can use a free service like ClickBank to perform market research online; or you can use a paid service like Survey Savvy to conduct surveys online. By taking advantage of both methods, you will be able to determine whether or not the strategy will be effective for your company.
Once you have performed the appropriate research, you will want to leverage the information to drive traffic to your website. To do this, you need to understand the differences between marketing trends, which are usually associated with an overall economic trend, and marketing momentum, which are usually linked to an individual company. Marketing trends are usually considered cyclical in nature and therefore tend to grow and decline in a predictable pattern over time. Marketing momentum, on the other hand, tends to be very cyclical. Because of this, marketers use the two to identify opportunities that will allow them to maximize their profits.
The key to applying these trends to your marketing is to use them to your advantage. If you see a marketing trend that is declining, you can exploit it by positioning yourself to offer a product or service that is specifically designed to solve a specific problem that many customers have. If you spot a marketing trend that is increasing, you can simply follow it and provide your consumers with more products and services in order to solve their needs. However, if you notice a trend that is stagnant or even declining, you should consider how you can use it to your advantage.
There are many ways to apply trends to your marketing efforts. While it is important to understand how these strategies work, it is just as important to apply them correctly. If you make marketing decisions based on theories, guesses, and generalities instead of reality, you could find yourself out of business in a very short amount of time. It is up to you to use your own judgement and common sense when it comes to making marketing decisions for your business.