The Convergence of Current Social Trends
Infinity Property Ventures, LLC
Each year companies look for various trends in order to capitalize upon which will help with their growth. One area of trends that companies should not forget about is that of social trends which can help them further understand how to obtain as well as satisfy their consumer base. Social trends progress at various rates, but seemingly they have begun to converge at a much swifter rate over the past several years.
Trend 1: People desire an increased amount of information
Today there are an increased number of individuals that are becoming more socially conscious which means they want to know where the products they are purchasing come from. Gone are the days where consumers blindly purchase products from companies. The consumer of today wants to know where the coffee beans they are buying comes from and if it has been harvested through humane means. This demand for knowledge reaches across all industries especially as the moral awareness of the consumer continues to grow. Sweat shops, over use of harmful pesticides, unethical business practices, etc. will no longer be able to be swept under the rug, nor the wool be pulled over the eyes of consumers.
Trend 2: Consumers desire more dialog with companies
If a customer has a question about a specific product or service they wish to be able to have an answer within a reasonable time. We can see that as more consumers desire knowledge about their products naturally questions will arise so therefore companies should be ready and willing to answer questions. Companies need to be willing to answer questions through various means which may include social media, toll free lines, and email. If the consumer cannot obtain an answer within a reasonable period of time then they will turn to the alternative… “The Competition”.
Trend 3: The connectivity of social media
Social media has taken the world by storm! Everyday more and more people are creating a Facebook or Twitter account in order to be connected. Social media is one of the main ways in which most people, especially millennials, obtain their news and information. Companies are now becoming more aware of this social trend in particular especially since baby boomers are beginning to step down and millennials are beginning to move into those empty roles. The engaged consumer is a happy consumer, so companies that disregard social media and the opportunities that they present are lacking in one area for future success
Trend 4: Traditional advertising is losing its grip in the social media age
Traditional advertising is becoming ineffective since the main approach is to market to a large demographic with one or a few set of messages. The advent of social media has been the “wild west” for advertising over the last several years. Companies that have found a method to this madness have seen the true benefits of implementing social media advertising into their campaigns. What does this mean moving forward? Companies need to engage with their current and future customers in order to obtain their business. Companies need to research on how their products and services can benefit different niche demographics, and then create target advertising messages to capitalize on that market.
Trend 5: Consumers searching for authenticity from the brand
Everyone wants the real thing today! This might be the vacation to a foreign land with the opportunity to meet indigenous people living in their traditional environment, or genuine trinkets made from the area of the world that is stated on the label. This “truth” helps to create a status within social groups which in turn can further establish a particular brand. The authenticity of the company and its brand can be a direct relationship on its future success.
Real Estate companies and investors can draw upon these trends to help them with their investments. This can start with the way in which they interact with their clients throughout the home buying process. The process can begin with the interaction with potential clients through social media accounts which can establish viable leads, have prepared details on all properties to provide the desired knowledge that each client needs to make an informed decision, stage the properties in different manors that reflect the current environment where the property is located, but what potential the property can afford to the future owner. The final area that today’s real estate company can capitalize on is social media marketing through Facebook, Twitter, Instagram, etc. to showcase all current properties. One hint would be to use the ever more popular Periscope platform to provide a live walk through of staged homes so that not only local clients have the ability to see the home, but those around the world can see them as well. This just might increase the reach from the local market to the global market. Stay on top of these social trends and capitalize on these waves of change.