The 2013 Landscape: Consumer Trends That Will Help Define Business Success February 21, 2013
What We’ll Share Today Trends: Definition and evolution • Why trends are important • 2013 crucial consumer trends • − A selection − How they manifest in goods and services − How to think about the trend in your business strategy Implications of trends for marketers • 2
What is a TREND? The general direction in which something tends to move Why Things or Change are Happening A trend is GLOBAL and has impact across sectors 3 pic: thinkmap
The Evolution of a Trend 4 pic: wevolve
Why is Consumer Trend Awareness Important? By understanding what people believe (their perceptions ) and what they act upon (their behaviors ) Customer …you will be inspired to create new goods, Centricity services and experiences for your customers… Profitable Innovation And you will be focused on the FUTURE !! 5
Why We are Here Understanding and applying ever- • changing consumer trends in business is critical to success. Few businesses have the time or resources • necessary for trend analysis. Knowing what the key trends are and how • to apply them results in competitive advantage . Framing with or basing marketing strategies • on trends will likely be more successful than brainstorming . 6
Some of 2013’s Crucial Consumer Trends EARNABLE TRUST 1 2 PRESUMERS & CUSTOWNERS 3 BACK TO THE CITY NEW LIFE INSIDE 4 5 APPSCRIPTIONS 7
EARNABLE TRUST 1 8
EARNABLE TRUST “Trust is now redefined and has to be earned .” • Consumers bring a FULL FRONTAL mindset; seek “provable” information on companies. • Consumers embrace brands that are FLAWSOME : “human” with flaws and open about it. 9
Patagonia’s “Footprint Chronicles” Documents Environmental Impact of Its Supply Chain 10
Natura Lists ALL of its Socio-Environmental Targets – Successes and Failures 11
Path, A Popular Smart Journal, Issues Public Apology Over Use of Phone Records 12
A Child’s Right “Proving It” Campaign: We Don't Always Succeed, But We Try 13
What Should I Do With This? • Think “projection of personality” in marketing initiatives. We’re a brand you can trust because . . . • Look for ways to admit mistakes based on new program initiatives. We recently instituted X to deal with Y. We’re listening. Make a connection. • Include verifiable facts in marketing materials that display authenticity . They are best if longitudinal. 14
PRESUMERS & 2 CUSTOWNERS 15
PRESUMERS AND CUSTOWNERS “ Consumer involvement with product and services pre-launch will go mainstream .” PRESUMERS involved with product before launch CUSTOWNERS funding/investing in brands they buy Companies have responded with crowdsourcing platforms : Product development • Philanthropy • Crowdsourcing funding • 16
Cut on Your Own Bias – Voting on Apparel Designs 17
Villy Custom Bicycles: Build Your Own Dream Bike 18
Fundable: Equity Crowd Funding for Start-Ups 19
Kickstarter: Raises More for Artists than the National Endowment for the Arts 20
Clients Say, “Spend $30,000 on These Charities, Not a Party” 21
Customers Pick Causes and State Farm Gives to Non-Profits 22
What Should I Do With This? • Identify ways to include the consumer voice prior to product roll-out. • Build marketing platforms for smaller and newer innovative enterprises. • Leverage crowdsourcing for CSR initiatives. 23
BACK TO THE CITY 3 24
BACK TO THE CITY “The future consumer arena is urban .” People are moving back to the cities and crave products and services that match urban lifestyles. They value the city experience and companies that make that possible (RISE OF THE INTIMA-CITY). 25
Daewoo First Wall-Mountable Washing Machine 26
Ikea’s Miniature Greenhouse 27
Companies Head Back Downtown Companies are relocating headquarters in major cities and partnering with local organizations “The Joys of Urban Tech: “Companies head back Goodbye office parks. Drawn downtown.” by amenities and talent, tech firms are operating for cities.” 28
Capital Bikeshare – Corporate Funds Increases Quality of Life 29
Carmel, IN: $800 Million Partnership Creates New District 30
What Should I Do With This? Take advantage of an urban market by: Providing the products they • need . Offering local professional services • to businesses. Recommending donations be • spread across ventures that provide the urban experience . 31
NEW LIFE INSIDE 4 32
NEW LIFE INSIDE “It's time for products that give back .” Products and services that literally contain new life inside . 33
To Be Nature Chopstick: Cap Contains a Seed 34
Sprout: The Pencil that Wants to be a Plant - Seed Capsule Included 35
What Should I Do With This? • Think “renewable,” but position your products in a way that demonstrates a cycle of life and continuation . Implications • How can this product be used when it time is done? Quirky answers to this will generate buzz and demonstrate values. 36
APPSCRIPTIONS 5 37
APPSCRIPTIONS “ Digital technologies are the new medicine .” Doctors and physicians are turning to health apps and services to improve health outcomes , leveraging last year’s consumer trend DIY HEALTH. 38
mRx: App Store for HC Professionals: Monitoring and Compliance 39
Antibiotics Reminder App: Take Antibiotics Properly 40
What Should I Do With This? • Think loudly: How does mobile service delivery apply to my Implications products and services? 41
WRAP UP 42
Implications for Marketers • Market the company and its brand , not just its products, to garner trust . CSR is key. • Create partnerships with local groups and governments to promote products. • Involve potential customers earlier in process. • Use customer data smartly to prove product value . • “ Urbanize ” products and services. • Embrace “ renewable ” in the product cycle. • Leverage mobile driven service delivery. 43
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