Written by: Vickie Sullivan | September 29, 2016
How to Determine Where Your Market Is Heading
If you ever want to see what’s hot and what’s not, just follow the money. This summer article from Strategy + Business goes beyond the “where the money is moving” trends by asking a bigger question “where is the money coming from?”
The big aha: Money for online video was coming from other elements in that line item. Not anymore; now it comes from TV ad buys. For traditional TV, this is called a clue.
Why should you care? Because you can use the same tactic to see where your market is heading. Example: You’re a trainer with a big corporate contract. You hear through the grapevine that the line item used to pay your fees is being raided by a new blended learning initiative. This is also called a clue.
Related: Where to Find Hidden Opportunities
Why do budgets get raided and others don’t? According to this article, easy to do creates inertia. When we have longstanding relationships, inertia is our friend—until it isn’t.
Our next best step: The next time clients talk budget cuts ask them where the money is going. The sooner you hear about new initiatives, the quicker you can jump on board. Remember, you’ll get a fair hearing from your advocates. Focus on your impact; show how easy it is to adjust the format.
In this crazy market, a heads-up is golden.
Other Resources You May Like:
- How Cool Opportunities Are Born
- Real-World Advice and Innovative Ideas for When the Rubber Meets the Road