One of the most iconic rental brands in the 90s was “blockbuster.” Blockbuster was a home video movie and video game rental service giant. At its peak in 2004, Blockbuster had more than 9,000 stores worldwide. However, its inability to innovate and keep up with emerging trends ultimately led to its demise.
The point being made is that to stay relevant, a company or business must continue to innovate. And to properly do this, the business must understand market trends and how to predict and leverage them.
But then, information about how to do this is not available to everyone. This is why we got across to Mint Global professional to share market trends predictions. Mint Global helps companies succeed in taking market share every day in the following verticals: insurance, finance, automotive, social networking, retail, and travel.
The following are the market trend predictions from professionals at Mint Global Marketing.
Video marketing has come to stay
Video content is one of the most powerful marketing tools today. It is gathered that 500 hours of video are uploaded to YouTube every minute worldwide. That’s 720,000 hours of video uploaded every day to YouTube. What this tells us is that the internet audience are buying more into videos and that every company must carve out ways to leverage this.
Consumers would determine the contents.
Consumer-driven content highlights the pain points and needs of your target audience. Use statistics, polls, and reviews to determine what kind of material your audience needs rather than assuming what they want. Also, analyze your data and analytics first to assist you in understanding consumer behavior.
Additionally, you can ask your customer service staff about the most frequent inquiries and grievances, or you may directly ask your consumers what they want.
Throughout the buying process, customers rely on you to provide information and address their difficulties. Hence, you can design a better online experience and product for your clients that will resonate long after you have provided a service by knowing their pain concerns.
The influencer culture would predominate.
As more businesses collaborate with influencers to stay relevant, form alliances, and establish close connections with their audience, the creative economy is fast growing. Creators and influencers will have increasing power over the economy in their respective fields in the years to come.
Consumers now investigate items more proactively before making purchases. They are more inclined to purchase your product if they witness one of their favorite influencers using it on social media. Luckily, you can benefit from this initiative.
You just need to find out the influencers that your audience follows and ask them to recommend your products. And even if you’re working on a budget, you would find micro-influencers who won’t cost you much. They can endorse your product in exchange for free products and services.
One of the most phenomenon concept in our world is change. As such, the market and consumers keep experiencing new dynamics from time to time. Therefore, brands should consistently keep track of the changing market trends to revamp their marketing strategies accordingly in order to attract more customers and achieve unimaginable growth.
The pros at Mint Global Marketing have this initiative for brands to be up-to-date in their marketing strategies as the core of their primary objective and are ready to walk you through the journey.