Smart Insights: Monitoring Trends and Hot Topics
As market researchers it is important to us to be permanently connected with what happens around us, in order to tackle different needs and trends from an early stage. Further on, identifying trends in social and business environments before wide adoption can influence and determine educated business decisions. Why so? Because consumers' tastes and needs change over time in response to the emerging new lifestyles and fashions. Businesses need to monitor these changes and, whenever possible, anticipate them. So how should we follow trending topics and turn them into powerful tools revealing consumer’s intentions?
Firstly, we need to keep our ears and eyes open to the communication sources around us. Word of mouth is usually one of the most reliable channels of digging into certain trends and events that might suddenly get popular. So discussing with friends, family or colleagues could be an important step in tackling emerging trends.
Further on, what competitors are doing can help marketers get an insight into the novelties in the market, as well as the different face-to-face discussions with industry colleagues, at different conferences or local events.
Secondly, we need to keep an eye on the news and on other various social channels. Market research professionals may catch the next trend just as it is starting if they are observant enough, and can further take advantage of it in their discussions with the clients or on different analysis they are working on. One step further, the valuable and timely insights gained can really help brands make better marketing and business decisions.
From TV to social media and podcasts, all communication channels can help us have a deeper understanding of the trending topics, as they can reveal what people’s interests and intentions are and also what is happening right now.
Thirdly, we need to talk to our consumers. Although scanning social networks, discussing with our peers and monitoring our industry and competitors can be insightful, talking to consumers is invaluable. Nowadays, we can easily target trendsetters and early adopters by existing segmentation and discussing our hypothesis with them can be surely enlightening.
As market researchers, being constantly up-to-date and knowing where to look for data one step ahead of the others, should be part of our day to day tasks. Of course that staying up to date in a world that is constantly changing is not easy, but being aware of changes as they’re happening can help us make a significant impact on business and marketing strategies.