Ewom Marketing

Identifying and acting on trends is important in every business. It helps to identify new opportunities and provide insight into a more effective marketing strategy. Trends provide you with the opportunity to steal a lead over your competitors, especially if you learn to quickly identify the early signs of a new trend.

One of the biggest trends in the past few years, which many companies capitalised upon, was social networking. Now social networking is one of the biggest things on the Internet. Video sharing sites like YouTube and social community sites like Facebook, and MySpace have become the most viewed and used sites. Due to their popularity, they can also be a good starting point to help identify trends. Remember to keep an eye on your competitors. Ensure you find out what they are doing, what offers they are currently running, and whether they have any new product launches.

Furthermore look at the communities where they are most active. Being first to a new trend is an advantage but, failing that, coming in late allows you the opportunity to better your competitor's efforts. Look for areas where you believe you can improve it. Finding out where your competitors are advertising or networking will lead you to the sites or opportunities that present relevant information. The more sources of potential trends you can find, the more accurate your data. You should be an active and eager member of the communities within your industry so use this information in tandem with the information you manage to dig up.

Identifying new opportunities can be a difficult task (and long), but by getting involved in markets and networking in relevant circles you will begin to identify the most relevant topics for your niche. This can help to increase market share and strengthen your brand by being the first to provide a new and wanted product or service. But remember as I mentioned before, if you do find yourself behind your competitors, you then have the chance to improve on their efforts.

According to recent data shown in the ‘Risky Business: Reputations Online', Sixty seven per cent of companies are at risk of damaging their reputation online. The survey was conducted among senior executives in countries around Europe, North America and the Asia Pacific half way through 2008. The survey by PR company, Weber Shandwick found that this concern came from two main sources: misdirected emails and employee sabotage.

Contrary to expectations, the study revealed that 87 per cent of global executives admitted to either sending or receiving at least one incorrect message. "The unintended and unexpected consequences of misdirected electronic messages can taint, sometimes permanently, company reputations in seconds," according to the survey. Therefore it is important for companies to be aware of the information its employees are posting on websites that rate their employees.

The survey also showed that 66 per cent were unaware of employees badmouthing their companies online, 21 per cent of CEO's and chairmen were concerned about employees posting work-related discussions on social networking and video-sharing sites.

PR company Weber Shandwick stated that "Leaders' short-sightedness about employees going online to complain about their bosses, discuss salaries and leak confidential information highlights one of the most dangerous threats to corporate and professional reputations now and in the years ahead"