Predicting the future.

Posted: 10^th July 2017

By: Victoria Reece-Heal

For small businesses to survive, grow and stay ahead of the competition involves knowing the unknown – predicting the future. Understanding where you want to be and how to get there is a good, solid strategy, but knowing what the future holds for your industry, your market place and your working practices and planning for those developments is a great strategy.

So how to predict the future…

Simple.

Understand where changes could occur, what those changes might be and how they will impact your business.

Then plan for it.

But anything could change!

Of course we are not magicians, but we can do some simple wizardry. To understand what might happen, look at:

• What has happened – spot patterns and trends
• Read what the experts predict
  • Look at industry forums and check out business forums
  • Look up leading business figures and see what they are saying
• Visit your main industry expos – see what’s on the horizon

When looking for future trends, remember that impacts on your business come from different areas, with the key areas being:

1. Industry sector movements
2. Changes in your market place
3. Customer buying patterns and attitudes
4. Technology advancements
5. Employees and working trends
6. Supply chain

The principle for small business is to focus on what is relevant to you and your business and then identify assess opportunities and risk. You will then be able to develop the right actions to capitalise on opportunities and minimise the impact of risks.

Focus on the future – the next big marketing trends:

Once you have a clearer picture of what the future has in-store, make sure you are geared up now with the right strategies. The right marketing tools will be those that work now, and will adapt effectively with change.

Here are some of the key marketing trends:

• Make the most of smart devices – is your business smart-friendly? Customers are moving to mobile-decision-making
• Do as you say – be open and honest with your customers and deliver on that
• Let your customers market you – encourage reviews, get that feedback and make your customers want to spread the positive word
• Content is the new… content! You can never beat amazing content for capturing attention, inspiring interaction and raising your profile in searches
• Make social media work for you – interact online the way your customers do
• Lights, camera, action! – get video happy and captivate your market place

And remember…

The past cannot be changed, but the future is still in your power.