Is Emerging Media Worth the Risk?Digital Marketing Trends: Should You Lead or Follow the Market?
It seems like every month there’s a new digital marketing trend that promises to be the best way to reach your consumers. With so many trends emerging each year, it can be hard for local businesses to determine whether they should invest or wait out the hype.
Risks of Adopting New Digital Marketing Trends
Though you may be excited to be one of the first local businesses to try out new marketing tactics, doing so can be risky. When you think about all the marketing trends that are no longer used, like 3D and QR codes, it’s easy to see how brands can find themselves wasting a considerable amount of their marketing budget on emerging media that never quite takes off.
With that in mind, one of the biggest risks of adopting new digital marketing trends before anyone else is that you never know whether they are here to stay or only hot for a moment. If these new tactics end up being a flop, then you may find yourself in a position where you have spent too much of your time, money, and energy investing in campaigns that just don’t work.
Benefits of Investing in Emerging Media
There is a lot of exciting new media being used by businesses today to market their brands. Just a few of these digital marketing trends include virtual reality, wearable technology, Facebook Messenger for business, and Snapchat. Being the first to use emerging media like this can offer a range of benefits for local businesses.
For one, there is a chance that these marketing trends may be successful, opening exciting new opportunities for your brand. Another benefit is that it can help your business gain a competitive edge. If you are adopting these new trends before your competitors, you’ll be more likely to stand out in the crowd.
Conclusion: Proceed with Caution
When it comes to emerging media, the best advice is to proceed with caution. While most local businesses are looking for a competitive edge over larger brands and other local businesses, they must be conscious of their limited marketing budget and resources.
New digital marketing trends that do not require a huge investment of time or money may be worth the risk, especially if you adopt them before your competitors. For unproven methods that require more of an investment, it may be best to wait awhile and see if the media lives up to the hype.
We Can Help!
If you find it difficult to navigate all the latest tools and trends in the industry, we're here to help. Our team of digital marketing experts has access to national insight and resources that can help your local business stay ahead of the competition by identifying the trends that are here to stay. Contact us today for a free consultation.