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Saturday, July 20, 2024

Understanding the Industry You’ll Be Entering


Starting out in business comes with many different challenges. As much as you might feel as though you’ve prepared, it’s not unusual to feel as though you’re constantly on your backfoot.

So, you take all of the precautions that you feel necessary regarding your business plan, marketing methods, and product or service. What about the wider industry, though? This will be the entire landscape that you’ll be operating within. Your plan will undoubtedly cover Some of this, but a more attuned sense of your surroundings might help with your professional decision making.

 

Audience Expectations – When to Subvert

There will be elements of your industry that you consider essential to follow – such as elements of the line of work. However, there will also be times that you enter into territory that is more subjective – perhaps other businesses in your industry do things a certain way because that’s the current trend, and that isn’t something that you have to follow.

While this can seem like a good opportunity to make an impact on your audiences, subverting these expectations just for the sake of it might backfire. You have to do so with a clear intent. For example, are you trying to make a point about how your competitors do things one way, and you’re breaking the mold for their sake by changing that? On the other hand, when it comes to providing quality service all round, that’s an area that you will want to stick to, potentially meaning you investigate partners to round out your service like Shiply.

business woman

 

Emerging Tools

There is also the question of how you respond to changing elements in this industry. Do you constantly respond to changing circumstances? If so, you might try and build up a consistent image for your brand, a personality that can be expected to respond to changes in certain ways, perhaps so that your target audience always identifies with you. However, you might also look to anticipate upcoming changes so that your business is able to intercept them and integrate them as seamlessly as possible.

A modern example of this is AI and how that can be used to varying degrees of success. While AI is a tool that has been reported to have many different applications across all kinds of industries, it might still be more useful to some types of businesses than others, giving you an idea of whether or not you should shift gears to use it.

 

Marketing Gaps?

Similarly as to how you might try and decide ahead of time whether or not AI would be a tool that your brand gets anything out of, you might also try to decide which marketing methods will be best for you. Of course, part of that will depend on what has historically been useful for businesses in your industry, but it’s also worth seeing which methods are generally doing well now.

In the latter camp, you have video marketing. While this has been doing well for many years, considering how you could create video content that you then compress to shorter lengths to fit various social media platforms might help you to plan your campaign ahead of time.

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