Scrolling Headlines:

UMass hockey returns home to battle juggernaut Northeastern squad -

January 18, 2018

Slow start sinks Minutemen against URI -

January 17, 2018

UMass three-game win streak snapped in Rhode Island humbling -

January 17, 2018

Trio of second period goals leads Maine to 3-1 win over UMass hockey -

January 16, 2018

Small-ball lineup sparks UMass men’s basketball comeback over Saint Joseph’s -

January 14, 2018

UMass men’s basketball tops St. Joe’s in wild comeback -

January 14, 2018

UMass women’s track and field have record day at Beantown Challenge -

January 14, 2018

UMass women’s basketball blows halftime lead to Saint Joseph’s, fall to the Hawks 84-79. -

January 14, 2018

UMass hockey beats Vermont 6-3 in courageous win -

January 13, 2018

Makar, Leonard score but UMass can only muster 2-2 tie with Vermont -

January 13, 2018

Pipkins breaks UMass single game scoring record in comeback win over La Salle -

January 10, 2018

Conservative student activism group sues UMass over free speech policy -

January 10, 2018

Report: Makar declines invite from Team Canada Olympic team -

January 10, 2018

Prince Hall flood over winter break -

January 10, 2018

Minutemen look to avoid three straight losses with pair against Vermont -

January 10, 2018

Men’s and women’s track and field open seasons at Dartmouth Relays -

January 10, 2018

Turnovers and poor shooting hurt UMass women’s basketball in another conference loss at St. Bonaventure -

January 8, 2018

Shorthanded, UMass men’s basketball shocks Dayton with 62-60 win -

January 7, 2018

Northampton City Council elects Ryan O’Donnell as new council president -

January 7, 2018

UMass power play stays hot but Minutemen lose 8-3 to UMass Lowell -

January 7, 2018

CEO of Growbiz Media talks about upcoming business trends

(Collegian File Photo)

Former editorial director of Entrepreneur Magazine and current CEO of Growbiz Media Rieva Lesonsky gave a lecture about upcoming business trends for 2018, tactics for starting and running a successful small business and the importance of marketing when running a small business on Wednesday.

Lesonsky started off her lecture by talking about some of the upcoming trends that are projected to grow over the fiscal year of 2018, including the wedding industry, the beauty products business, niche fitness programs and home remodeling.

Lesonsky explained that these trends are often results of generations coming of age or growing older. She said that since many millennials are entering the marriage stage of their lives, and millennials are such a big demographic, the wedding industry is projected to grow seven percent in 2018. Another example Lesonsky gave was the rise in home renovation as baby boomers enter retirement and sell their homes.

A major point Lesonsky made was that companies and entrepreneurs need to think about and market toward specific demographics, be it race, gender or age.

“Entrepreneurs should be looking at the demographic of the customer and asking ‘What else do they buy?’” Lesonsky said.

Lesonsky talked specifically about how to market products and business toward the different generations of people, particularly millennials and people in Generation Z, the generation after millennials. According to Lesonsky, the earlier a person is exposed to a particular brand, the more likely they will develop brand loyalty and continue to use the same brand as they get older.

“I still use the ketchup my mother used when I was 5,” Lesonsky said.

According to Lesonsky, a strong online presence for a person’s business is even more important than brand loyalty. She said that studies have shown that the majority of teens in the U.S. said the most effective way to market toward them was through Instagram. The so-called “selfie culture” also impacts which trends are popular, Lesonsky said.

“People don’t drink blue wine because it tastes good. People drink it so they can post a picture with it,” said Lesonsky.

“I work in marketing, so it’s cool to hear about the upcoming popular trends,” said recent marketing graduate Mike Vinik. “I work for a big conglomerate so the trends in different industries [are] interesting to me.”

“It’s interesting that companies have to make things Instagram-worthy,” said senior marketing major Shivantika Rungta.

Rungta’s classmate Charles Fine, also a senior marketing major, agreed with both Lesonsky and Runtga.

“It’s such a big part of marketing these days,” Fine said.

Lesonsky ended the lecture by discussing how it is a great time to be a small business owner or entrepreneur because of the connectivity and resources the internet provides.

“I’ve been in the business since 1978, and this is the best time I’ve ever seen to be an entrepreneur,” Lesonsky said.

 

Mack Cooper can be reached at mcooper@umass.edu.

 

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