Showing posts with label trends. Show all posts
Showing posts with label trends. Show all posts

Social Networks are not just for advertising - Spot trends and Opportunities

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.

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Businesses use of Twitter

This is my second blog on Twitter, but after reading a interesting article about Twitter in BusinessWeek magazine earlier this week, it made me think about Twitter again. The Article soke about how project teams in companies are now being asked to deliver real time status updates to one another using Twitter. Therefore I took it upon myself to further look how people around the world are using Twitter.

The biggest users are Market researchers who are using Twitter to try and identify consumer trends in real time. I also came across a couple of interesting folks who use it and I thought it would be interesting to share:

In the U.S. the Los Angeles Fire Department uses it to communicate real time fires and accidents to local citizens. (The LAFD News & Information blog can be found at: lafd.blogspot.com)

In the UK, the government has signed up to Twitter and uses the site to send out updates on the Prime Minister’s activities.
BusinessWeek, also reported that Dell claimed to have boosted sales through searching for mentions of its business on Twitter and jumping into the conversations. They state that they boosted sales by $500,000 in recent months! Now that’s not a small increase of sales! Are we under estimating the power of Twitter?

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Google UK Search Domination

According to new statistics released today (11th June) by marketing group Hitwise over 87% of all UK searches during May went through Google.

Google sites accounted for 87.30% of all searches throughout the month of May. Yahoo was of course second, but was considerably behind Google with only 4.09% of searches. MSN was the third most popular search website during May according to Hitwise, as it accounted for around 3.70% of UK searches. It was followed by Ask which accounted for just over 3% of searches.
It shocked me that the amount of searches made through Microsoft and Ask were so close to those made through Yahoo. What also surprised me was the difference between the UK and US.
In the US, Google accounted for 68.29% of searches made in May. Yahoo was second again receiving 19.95%, while MSN Search received 5.89% while Ask came fourth again with 4.23%.

These stats clearly show the UK search market is dominated by Google. Although in the US the story looks similar to the UK, the battle doesn't look over yet. We will have to wait and see what happens to Yahoo should Bill Gates gets his greedy little hands on them.
But those with Yahoo shares shouldn't worry too much yet as according to Alexa.com, Yahoo is still the most visited website on a globally scale as a Yahoo's domination of the Asian market.

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