How to unearth industry trends
By Jo Ann Giese-Kent, Fond du Lac County Economic Development Corporation
Do you often question what challenges or opportunities exist in your industry that could impact your business and customers positively or negatively? Do you or your salespeople need a better understanding of market conditions and forecasts of current or potential customers? Or, do you need a clearer picture of the industry supply chain?
Tracking and following industry trends can help answer these questions. Trends can reveal the direction an industry or market is heading – whether it’s growing, declining, or remaining flat. Navigating and examining this information proactively could unlock significant potential for success and growth of your business. Industry trends and outlooks can reveal changes in:
- Technology and new product developments Labor or employment
- Raw materials
- Customer demand – their needs or preferences Competitive landscape or concentration of companies
- Financial benchmarks and government regulations
- Imports and exports
How do you unearth or find these trends to help increase your competitiveness? National or state trade associations and publications are good preliminary sources for general industry or market trend information.
If you need specific or detailed industry and market facts, the Fond du Lac County Economic Development Corporation (FCEDC) is equipped with a variety of tools to uncover in-depth industry intelligence on over 700 industry segments. Through the Impact! economic gardening program, we mine information from high-powered database subscriptions to glean valuable information so you don’t need to worry about the time or resources required to do the research yourself. We combine this customized market research capabilities with individualized consulting aimed at helping you increase your competitiveness and pursue business growth with confidence.
Businesses receiving this information would typically pay $120 per hour or more for industry and market intelligence research. As a client of FCEDC’s economic gardening program, you would benefit from a significantly reduced rate of only $40 per hour.
If you’re ready to unlock your potential within your industry and markets, FCEDC is your partner to help you get there. Call us today at (920) 929-2928 or email us at info@fcedc.com to set up an appointment to discuss your needs.
