It’s true that staying on top of trends can be complicated and overwhelming, but as a business owner, one of your main priorities should be monitoring industry trends, however daunting this task may be. Doing so allows you to quickly identify consumer behaviour and activities, allowing you to remain competitive in your respective industry. As you can imagine, falling behind on crucial trends can be detrimental to your business; if, for instance, you are remodeling a hotel, but fail to take into account which design choices are on trend for your target market, your more up-to-date competitors will have a significant advantage.
One of the easiest ways to stay on top of trends is by networking. The old saying “it’s not what you know, it’s who you know” applies here. Creating connections both inside and outside of your industry is an opportunity to gather inspiration and information. It’s a good idea to develop and maintain a network of a variety of business professionals, such as economists, accountants, and lawyers, as well as fellow business owners like yourself. Your business network is your number one source for the latest industry trends.
A great way to establish a solid business network is by attending conferences and training sessions – these are prime opportunities to meet colleagues, competitors, and industry experts, as well as to gain exposure to new and future trends. Similarly, an active social media presence is a key networking tool. Social networking apps offer a direct look at what your customers want and can keep you informed on news and upcoming trends. To that effect, it’s important to set aside time for social networking; consider dedicating 15 to 20 minutes a day to simply gather information. You do not have to engage with everything at once. Instead, bookmark articles and videos of interest to you that you can pick up when you have some free time.
Of course, not everyone is comfortable navigating social media. If you are unable to effectively use social media as a business owner, it may be a good idea to hire a social media manager to handle these tasks instead. A social media manager can customize your accounts for you and help you subscribe to relevant content. This way, you can stay on top of trending topics and have quick access to interesting articles and news stories relevant to your industry. In addition, you can easily see what your competitors are up to and what trends they are following.
Businesses must acknowledge the fast-paced landscape they are a part of if they are to succeed. Use the above tips to stay on top of industry trends and create meaningful networks that allow your business to thrive.
Looking for a team to take the lead on your next project? At Pulse Construction, we’re committed to doing business with an honest, professional, and competitive approach – without compromising safety or schedules. Contact us today for all of your building needs.
