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Have you ever wondered how some of the world's largest brands always seem ahead of the curve when it comes to identifying and capitalizing on emerging trends? Some companies really seem to have a sixth sense for what consumers want before they even know they want it.
The truth is, it's not just luck or chance that leads these brands to success. Instead, they rely on a combination of data analysis, market research, and good old-fashioned intuition to identify trends early. By doing so, they stay ahead of the competition by evolving to meet changing consumer demands.
But how exactly do these brands uncover trends before they happen? In this article, we'll take a deep dive into the tools and techniques used by some of the biggest companies in the world so that you can use them in your own business.
So, what's the key to uncovering emerging trends? Simple. Use the tools and proven techniques the experts do.
Many of the biggest brands rely on sophisticated tools and technologies to help them identify patterns and insights in vast amounts of data. These tools include everything from social media monitoring platforms to machine learning algorithms that can crunch through enormous amounts of customer data to identify patterns and correlations.
While costly tools and custom algorithms may not be within reach, here are several must-have tools that all the experts use.
Pinterest Trends tracks user activity to reveal trends and shows a historical view of the trending search terms in different countries. Pinterest also uses its user data to create an annual trends prediction report. On average, 80% of Pinterest's predictions come true. So, it's no wonder why the world's biggest companies utilize this powerhouse resource.
Google Trends tracks global search trends, making it easy to identify trending searches in your industry. You can also sort data via date and location, making it even more useful for understanding what your target audience is actively searching for.
Think with Google is a place where Google shares insights, tools, data, and trends. While you can't search for your industry specifically, this tool lets you get a birds-eye-view of the trends Google thinks are important. It's like Google's blog, but it's Google, so it's really valuable information and insights.
The US Census Bureau does a lot more than just count how many people live in our country. It also spends tons of time conducting surveys and doing boots-on-the-ground research into people and behaviors. So, in addition to getting comprehensive demographic information, savvy marketers use the US Census Bureau to understand trends around consumer behavior.
SEMRush is an SEO tool offering many amazing features for uncovering trends, including the Market Explorer and Traffic Analytics features. Essentially, SEMRush lets companies take a closer look at search and traffic trends and offers deep research into competitors, too.
AnswerThePublic is a search listening tool that allows companies to compare search behavior, uncover insights, and see what people are actually searching for on Google. While Google Trends can give you a broader view of markets, AnswerThePublic lets you inside the head of your target audience to truly understand their questions and problems.
While using tools to uncover data can provide valuable insights, it's not the only way to find emerging trends. There are also several techniques companies use to stay informed about what's going on in their industry.
Here are a few proven techniques you can use in your business.
Most social media platforms and search engines allow you to set up alerts for specific terms. For example, with Google Alerts, you get an email anytime a certain term is mentioned online. Likewise, Twitter Alerts will give you a push notification for specific search terms. Check your other social accounts and search engines to see which will let you set alerts to follow your market without constantly being online.
The biggest brands have entire departments devoted to market research. When you're a small business or solopreneur, you may not have the luxury of having a whole R&D department. However, you still need to devote some time to researching what's happening in your market. Set aside time at least once a month to do a deep dive into your market to ensure you aren't missing out.
There are already publications and influencers doing the research in your niche for you. Rather than doing it all on your own, do what the big brands do, and follow your industry's thought leaders to stay up to date with the latest news.
Many experts also rely on more traditional methods, like conducting consumer surveys, focus groups, and in-depth interviews with their target demographic. By engaging directly with consumers, you can get a firsthand look at emerging trends and better understand what your target audiences are looking for.
There's no replacement for getting in and talking to people. Whether you're talking to other experts in the field or interfacing with your customers, networking with people in your industry can help you stay on top of trends. You can attend trade shows and events or join online groups on Facebook, LinkedIn, or Reddit. The most important thing with this activity is to listen more than you talk to hear what other people say about your industry.
Uncovering emerging trends is critical for businesses that want to stay ahead of the curve. By utilizing a combination of tools and techniques, you can easily be like the experts and identify patterns and insights in your industry – before they happen.
By staying informed and open to new ideas and perspectives, you can position yourself and your business for long-term success and growth. So, get out there and start exploring - you never know what upcoming trends you might uncover!
Marketing.biz is your source for all marketing education and resources.