A Step By Step Guide to Finding Momentums for Marketing Success
May 11, 2023
In the fast-paced world of marketing, finding the right momentums can make all the difference between gaining market share and being left behind. As a tech vendor, identifying the trends that have high strategic importance and a large congregation of buyers is essential for harnessing the power of momentum marketing.
In this guide, we will provide a comprehensive overview of how to find momentums, using a two-fold approach: capturing trends and identifying momentum.
Before diving into the process, let's first look at an example of two trends identified for a tech vendor. One of these trends will be a momentum, located in the top right quadrant, while the other will be a short trend with no momentum, located in the bottom left quadrant.
Example 1 (Top Right Quadrant - Momentum): A recent surge in consumer interest around sustainable fashion drives retailers to search for innovative solutions to manage their supply chain sustainably. A tech vendor offering AI-powered supply chain optimization software can leverage this momentum by highlighting their product's ability to help fashion brands reduce waste and implement sustainable practices.
Example 2 (Bottom Left Quadrant - Short Trend): A short-lived viral challenge on TikTok prompts users to create videos using a specific song. While this trend may generate temporary attention, it has low strategic importance and a small congregation of buyers, making it unsuitable for a tech vendor to capitalize on as a momentum.
Now that we understand the difference between a momentum and a short trend let's explore the step-by-step process of identifying momentums.
Capturing Trends
To ensure that you're capturing trends within the right categories, consider using three large groups
- a) Buyer Ecosystem: Keywords related to your target buyers, their industry, and their customers.
- b) Collaborators: Keywords related to your partners, such as integration partners, channel partners, and other key stakeholders.
- c) Market Landscape: Keywords related to market trends, competitor news, and other factors influencing the overall industry.
1. Set Up Alerts to Monitor Industry News
Monitoring industry news is crucial for staying ahead of the curve and identifying emerging trends. Set up Google Alerts or similar tools with your chosen keywords to receive daily or weekly notifications of relevant news articles and updates. This will ensure that you're constantly informed about the latest developments in your industry, allowing you to identify potential momentums early on.
To set up Google Alerts, visit the Google Alerts website and enter your keywords in the search bar. Adjust the settings for the frequency of alerts, sources, language, and region, then provide your email address. You can create multiple alerts for different keywords and modify them as needed to stay on top of industry trends.
2. Use Feedly Tracks
Feedly is a popular content aggregator that allows you to track and organize news from various sources in one place. Set up Feedly Tracks using your selected keywords to follow industry-specific publications, blogs, and news websites. This will help you keep an eye on the most recent trends and insights, enabling you to act quickly when a momentum opportunity arises.
To use Feedly, create an account and log in to the platform. Use the search bar to find relevant sources based on your keywords, then add them to your custom feed. Organize your sources into categories for easy navigation, and check Feedly regularly to stay informed about the latest industry developments.
3. Follow Industry-Related News Websites and Blogs
In addition to using Feedly, make a habit of regularly visiting industry-related news websites and blogs. These platforms often feature expert opinions, in-depth analysis, and breaking news that may not appear in your alerts or feed. By staying informed, you'll be better positioned to identify and capitalize on momentums.
Create a list of top industry-related news websites and blogs relevant to your business. Bookmark these sites and set aside time each day or week to read through their latest content. By staying up-to-date with these sources, you'll have a better understanding of emerging trends and be better equipped to spot potential momentum.
4. Monitor Social Media Platforms for Trends and Insights
Social media is an invaluable source of real-time trends and insights. Platforms like Twitter and LinkedIn allow you to follow industry influencers, hashtags, and topics relevant to your market. By monitoring these channels, you can gain insights into trending conversations and potential momentums before they gain mainstream attention.
To monitor social media effectively, create lists or feeds on platforms like Twitter and LinkedIn, focusing on industry influencers, relevant hashtags, and competitor accounts. Regularly engage with these feeds to stay informed about trending conversations and developments in your industry.
5. Keep an Eye on Your Competitors and Partners
Understanding the moves of your competitors and partners can help you identify emerging trends and momentums. Regularly monitor their websites, press releases, and social media channels to stay informed about their latest product launches, partnerships, and other industry news. This information can help you anticipate market shifts and identify momentums to capitalize on.
Develop a systematic approach to monitoring your competitors and partners by creating a list of their websites, social media profiles, and other communication channels. Set up alerts or notifications for their updates and review their content regularly to stay informed about their activities.
6. Subscribe to Newsletters and Podcasts
Industry newsletters and podcasts can provide valuable insights into trends and developments in your market. By subscribing to these sources, you'll receive regular updates and expert analysis that can help you identify potential momentum.
Identify the top newsletters and podcasts in your industry, and subscribe to their mailing lists or feeds. Dedicate time to listening or reading their content regularly, and take note of any trends or emerging topics that could indicate potential momentum.
7. Participate in Online Industry Communities
Online forums, discussion groups, and industry-specific communities can be rich sources of information about emerging trends and momentums. By participating in these communities, you can gain firsthand knowledge from industry experts and peers while also contributing your own insights.
Find and join relevant online communities, such as LinkedIn groups, industry-specific forums, or discussion boards. Engage in conversations, ask questions, and share your knowledge to build relationships and stay informed about the latest trends and momentum.
8. Attend Webinars, Conferences, and Industry Events
Attending webinars, conferences, and industry events can provide you with valuable insights into the latest trends, technologies, and market developments. These events often feature expert speakers, panel discussions, and networking opportunities that can help you identify and capitalize on momentum.
Research upcoming industry events and webinars, and plan your attendance based on your budget and schedule. Take notes during presentations and discussions, and follow up with new connections to strengthen your professional network and gain further insights into potential momentums.
Evaluating Potential Momentums: Finding the Right Signals for Your Business
Once you've found a potential signal, it's time to evaluate its position within the momentum quadrant. Keep in mind that while this process is helpful for objectively assessing momentums, the measurement of each signal is subjective, and its position within the quadrant depends on your business's unique needs and priorities.
To determine if a signal falls close to the top-right quadrant (indicating a momentum), check its congregation and strategic importance using tools like Google Trends or Feedly, which can help you gauge if other publications are covering the same topic.
- Determine congregation: Check if the topic has a high level of interest (e.g., 50+ on Google Trends) and involves multiple companies or industries. For example, in the sustainable fashion trend we mentioned earlier, the topic would have a high congregation as it attracts the attention of various fashion brands and retailers.
- Consider strategic importance: Assess how relevant the signal is to your target audience and how it aligns with your business goals. In the tech vendor example, the sustainable fashion trend is strategically important as it aligns with the company's AI-powered supply chain optimization software, while the TikTok challenge is less relevant to their business.
As a side note, it's essential to assess the longevity of the trend as well. Momentums typically last over two weeks or more, so look for trends that have a lasting impact on your industry. In our examples, the sustainable fashion trend has longevity, while the short-lived TikTok challenge does not.
Keep in mind that while evaluating momentums is an objective process, deciding where one signal fits within the quadrant compared to another in the same quadrant is up to you to decide and should based on your business's unique preferences. Confirm if the signal falls into the top-right quadrant, indicating high strategic importance and medium or high congregation. Prioritize the momentums based on their quadrant position, focusing on those with higher strategic importance and congregation.
By following these guidelines, you can effectively identify and capitalize on momentums that are relevant and valuable to your business. Remember, the key is to find signals that align with your business goals and resonate with your target audience.
