5 TRENDS FOR 2016 are different.
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TRENDWATCHING STATUS
TESTS -
TRENDWATCHING CONTEXTUAL OMNIPRESENCE
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TRENDWATCHING INSIDER
TRADING -
TRENDWATCHING BENEFICIAL INTELLIGENCE
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TRENDWATCHING PERSPECTIVE
SHIFTS
First, they don’t cover the big economic, social and technological trends that are ahead. After all, The Economist is already a thing.
Instead, we’re all about consumer trends. Regular readers will know that trends emerge as innovators address consumers’ basic needs and wants in novel ways.
As trend watchers, that’s why we look for clusters of innovations which are defining (and redefining) customer expectations. These innovations – and the trends they represent – show what consumers will want next, and present you with actionable innovation opportunities in 2016.
But readers who are serious about understanding the direction of consumerism across multiple dimensions will have already spotted that these trends don’t sit in splendid isolation. They are a handful of near-future fragments of the Bigger Picture – more on how to handle that below. But each one is also a killer opportunity to take to your team right now.
Read, think, argue. Then get going, and make a start on new products, services and campaigns that consumers will love in 2016!
Instead, we’re all about consumer trends. Regular readers will know that trends emerge as innovators address consumers’ basic needs and wants in novel ways.
As trend watchers, that’s why we look for clusters of innovations which are defining (and redefining) customer expectations. These innovations – and the trends they represent – show what consumers will want next, and present you with actionable innovation opportunities in 2016.
But readers who are serious about understanding the direction of consumerism across multiple dimensions will have already spotted that these trends don’t sit in splendid isolation. They are a handful of near-future fragments of the Bigger Picture – more on how to handle that below. But each one is also a killer opportunity to take to your team right now.
Read, think, argue. Then get going, and make a start on new products, services and campaigns that consumers will love in 2016!
STATUS TESTS
Only the worthy will be served.
Consider the endless search for status, and you’re on the path that leads to the heart of consumer behavior. Because in affluent consumer societies, status is the No.1 motivator driving much of what people do (whether they acknowledge it or not 😉
So what’s next for status? In 2016, consumers will embrace a new twist on a traditional form of cachet: exclusivity. That means STATUS TESTS that force them to actively prove their worth to the brands they want to buy from. Yep, consumers proving themselves to brands.
We all know that many have shifted their status fixation away from ownership and towards experiences (so far, so 1998…). But when ice-cream can be delivered on demand by a taxi company, it’s clear that the doors to the experience economy have been flung wide open. And there’s little status in anything that comes easily.
Meanwhile, experienced and savvy consumers have become more comfortable with the idea of brand-led demands that ultimately serve customers’ best interests. And STATUS TESTS do just that, by allowing consumers the chance to prove skills, creativity, good taste, [insert status marker of choice here]. And, what’s more, to join a gated community of others who’ve done the same.
Ready to devise your own STATUS TEST? See how these brands did it.
So what’s next for status? In 2016, consumers will embrace a new twist on a traditional form of cachet: exclusivity. That means STATUS TESTS that force them to actively prove their worth to the brands they want to buy from. Yep, consumers proving themselves to brands.
We all know that many have shifted their status fixation away from ownership and towards experiences (so far, so 1998…). But when ice-cream can be delivered on demand by a taxi company, it’s clear that the doors to the experience economy have been flung wide open. And there’s little status in anything that comes easily.
Meanwhile, experienced and savvy consumers have become more comfortable with the idea of brand-led demands that ultimately serve customers’ best interests. And STATUS TESTS do just that, by allowing consumers the chance to prove skills, creativity, good taste, [insert status marker of choice here]. And, what’s more, to join a gated community of others who’ve done the same.
Ready to devise your own STATUS TEST? See how these brands did it.
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Three things to consider when you roll out your STATUS TEST in 2016:
Be fearless. Yes, asking customers to prove themselves to you is counter-intuitive. But the more stringent the test, the greater the status hit.
Think beyond traditional credentials and markers of brand loyalty. Who do your customers aspire to be? How can you set a STATUS TEST that lets them prove something meaningful?
For rising numbers, crowdfunding has normalized a mode of consumerism where people are not mere consumers, but a community of evangelists. Once you’ve set a STATUS TEST, those who pass are a ready-made, high-status community of like-minded (or like-skilled) peers. Foster it!
Be fearless. Yes, asking customers to prove themselves to you is counter-intuitive. But the more stringent the test, the greater the status hit.
Think beyond traditional credentials and markers of brand loyalty. Who do your customers aspire to be? How can you set a STATUS TEST that lets them prove something meaningful?
For rising numbers, crowdfunding has normalized a mode of consumerism where people are not mere consumers, but a community of evangelists. Once you’ve set a STATUS TEST, those who pass are a ready-made, high-status community of like-minded (or like-skilled) peers. Foster it!
CONTEXTUAL OMNIPRESENCE
Forget omnichannel.
Get ready for new channels and new contexts.
In 2016, you could be forgiven for thinking that a brand must be everywhere at once. After all, expectations around customer service now defy the laws of physics. Miss a customer’s moment of need, and you might not get another chance.
That’s why you’ve probably sat through multiple brainstorms around your (or your client’s) omnichannel strategy debating “how will we use [insert latest hot new ephemeral geo-fenced live-streaming video social platform]?”
In the coming 12 months, average brands will keep pursuing that strategy. But these discussions are like having an ‘Internet of Things strategy’. They focus on the how rather than the why. They focus on technology possibilities, rather than putting customers’ needs and wants first.
Meanwhile, smart brands will focus on answering a more meaningful equation: innovative channels + nuanced contexts = right place + right time.
That’s why you’ve probably sat through multiple brainstorms around your (or your client’s) omnichannel strategy debating “how will we use [insert latest hot new ephemeral geo-fenced live-streaming video social platform]?”
In the coming 12 months, average brands will keep pursuing that strategy. But these discussions are like having an ‘Internet of Things strategy’. They focus on the how rather than the why. They focus on technology possibilities, rather than putting customers’ needs and wants first.
Meanwhile, smart brands will focus on answering a more meaningful equation: innovative channels + nuanced contexts = right place + right time.
REAL WORLD EXAMPLES OF CONTEXTUAL OMNIPRESENCE
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So, the next time someone suggests addressing your omnichannel strategy, use this trend to have a more productive conversation with them (we’ll leave it to you to decide if you want to tell them where they’re going wrong first 😉
Start by asking why customers might embrace you using a channel. Next, challenge whether existing channels really satisfy the deep needs and wants of your customers. Could you create any new ones? Finally, imagine entirely new contexts you could leverage (perhaps even those that customers aren’t yet consciously aware of).
Bring all those together and deliver CONTEXTUAL OMNIPRESENCE:being in the right place at the right time.
Internal culture.
AI is about to destroy the world
Start by asking why customers might embrace you using a channel. Next, challenge whether existing channels really satisfy the deep needs and wants of your customers. Could you create any new ones? Finally, imagine entirely new contexts you could leverage (perhaps even those that customers aren’t yet consciously aware of).
Bring all those together and deliver CONTEXTUAL OMNIPRESENCE:being in the right place at the right time.
INSIDER TRADING
Internal culture.
Your next marketing initiative?
The epic quest for a more sustainable and ethical consumerism continues unabated. Yet consumers were (again) left sorely wanting in 2015: from Volkswagen’s emissions to FIFA’s corruption to Nestlé’s slave labor in Thailand to Yum! Brands’ tainted meat in China. Amid all this, it’s hard for brands to know where to turn.
One suggestion for 2016: turn inwards, and start by ensuring your internal culture is something to flaunt, rather than hide.
Why now? Consumers have long been concerned about purchasing goods produced by vulnerable workers in developing countries. Now, rising inequality and growing job insecurity in affluent countries means their empathy is expanding to white-collar workers, too. Who knew people cared so much about Amazon’s highly-paid developers, marketers and middle managers featured in the NYT’s controversial exposé?
So, take inspiration from the examples below, and in doing so allow customers to celebrate supporting your brand, as you support those who work for you.
One suggestion for 2016: turn inwards, and start by ensuring your internal culture is something to flaunt, rather than hide.
Why now? Consumers have long been concerned about purchasing goods produced by vulnerable workers in developing countries. Now, rising inequality and growing job insecurity in affluent countries means their empathy is expanding to white-collar workers, too. Who knew people cared so much about Amazon’s highly-paid developers, marketers and middle managers featured in the NYT’s controversial exposé?
So, take inspiration from the examples below, and in doing so allow customers to celebrate supporting your brand, as you support those who work for you.
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Asking hard questions about your internal culture isn’t easy. For those needing a steer on which questions to ask, start by addressing common pain points in your industry:
REI used the retail industry’s focus on Black Friday to make a compelling point about its brand values. Intel is focusing on diversity, a big issue in the tech industry. GrabTaxi is differentiating itself by addressing drivers’ concerns about working in the gig economy.
But whichever questions you ask, consumers will expect the answers to be more than just lip service: note how all the companies in all the examples featured took concrete (and costly!) steps to support their initiatives. Which aspects of your internal culture would you splash on a billboard?
REI used the retail industry’s focus on Black Friday to make a compelling point about its brand values. Intel is focusing on diversity, a big issue in the tech industry. GrabTaxi is differentiating itself by addressing drivers’ concerns about working in the gig economy.
But whichever questions you ask, consumers will expect the answers to be more than just lip service: note how all the companies in all the examples featured took concrete (and costly!) steps to support their initiatives. Which aspects of your internal culture would you splash on a billboard?
AI is about to destroy the world
make life amazing.
As long as the onslaught of technological change continues, we’ll keep shouting this mantra from the rooftops: stop viewing the world through the lens of technology, and start viewing technology through the lens of basic human needs and wants.
Put another way: all those tech trends you’re obsessed with are fine, but can you use them to deliver something people actually want?
In 2016, rising numbers of consumers will demand that brands use increasingly powerful and accessible artificial intelligence technologies to put truly smart products and services into their pockets, homes, inboxes, and more.
The underlying motivations that drive embrace of BENEFICIAL INTELLIGENCE are ancient. Save me time! Save me money! Make me a better person! Make everything easier!
But now that seemingly every big brand is trumpeting their AI efforts – Toyota announced a USD 1 billion investment in November 2015 – consumer expectation that AI should be deployed to make their lives better will rapidly increase, too. Meanwhile, even small developers are now able to leverage big AI resources. IBM’s Watson Developer Cloud lets developers access cognitive computing; it’s used by 77,000 developers globally.
Humans have limits. Their expectations do not. Maybe AI is the only hope you’ve got 😉
Put another way: all those tech trends you’re obsessed with are fine, but can you use them to deliver something people actually want?
In 2016, rising numbers of consumers will demand that brands use increasingly powerful and accessible artificial intelligence technologies to put truly smart products and services into their pockets, homes, inboxes, and more.
The underlying motivations that drive embrace of BENEFICIAL INTELLIGENCE are ancient. Save me time! Save me money! Make me a better person! Make everything easier!
But now that seemingly every big brand is trumpeting their AI efforts – Toyota announced a USD 1 billion investment in November 2015 – consumer expectation that AI should be deployed to make their lives better will rapidly increase, too. Meanwhile, even small developers are now able to leverage big AI resources. IBM’s Watson Developer Cloud lets developers access cognitive computing; it’s used by 77,000 developers globally.
Humans have limits. Their expectations do not. Maybe AI is the only hope you’ve got 😉
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You don’t have to be a tech giant to deliver some BENEFICIAL INTELLIGENCE (IBM’s Watson is being leveraged by CogniToys’ developers; Google, Facebook and Airbnb have recently all open sourced their machine learning libraries).
Indeed, here’s the real secret of applying this trend: you don’t even need true AI (though it is easier to leverage than ever). Rather, this trend is about serving the expectations that all of 2016’s AI hype will create. Serve those, and you’ll delight customers. That’s the real point of this, and every, consumer trend.
So if you’re low on funds, developers or time, simply ask: what are my customers trying to get done? How can I use some smart (!) digital tricks to hack a solution for them?
Indeed, here’s the real secret of applying this trend: you don’t even need true AI (though it is easier to leverage than ever). Rather, this trend is about serving the expectations that all of 2016’s AI hype will create. Serve those, and you’ll delight customers. That’s the real point of this, and every, consumer trend.
So if you’re low on funds, developers or time, simply ask: what are my customers trying to get done? How can I use some smart (!) digital tricks to hack a solution for them?
PERSPECTIVE SHIFTS
Same price. New perspective.
In 2016, the consumer arena is a hall of mirrors that renders a dizzying and fragmented view of value. But in a hall of mirrors, perceptions can be shifted.
One way? Playfully reposition your product or service in order to offer PERSPECTIVE SHIFTS that shock customers into a radically new appreciation of the value you’re offering.
Driving this trend are the new funding mechanisms and business models, digital innovations and new perceptions of value that have rendered pricing more fluid than ever. In 2015, they only accelerated – and became more visible. For just one glimpse of that, consider the music industry. Pay for music on Jay-Z’s Tidal platform? No way! Directly fund a musician on crowdfunding site Patreon? Sure – musician Amanda Palmer is now raising USD 36,000 a month direct from fans on the site.
The result? Consumers will be more open than ever to innovations that play with – and attempt to disrupt – their thinking around value. Just make it fun!
One way? Playfully reposition your product or service in order to offer PERSPECTIVE SHIFTS that shock customers into a radically new appreciation of the value you’re offering.
Driving this trend are the new funding mechanisms and business models, digital innovations and new perceptions of value that have rendered pricing more fluid than ever. In 2015, they only accelerated – and became more visible. For just one glimpse of that, consider the music industry. Pay for music on Jay-Z’s Tidal platform? No way! Directly fund a musician on crowdfunding site Patreon? Sure – musician Amanda Palmer is now raising USD 36,000 a month direct from fans on the site.
The result? Consumers will be more open than ever to innovations that play with – and attempt to disrupt – their thinking around value. Just make it fun!
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Sure, this is a playful trend. But it’s made possible by epic shifts in expectation when it comes to value and pricing.
How can you reframe your product or service as something else altogether in order to offer a PERSPECTIVE SHIFT on the value you bring? One starter question: if you had to pick a product that’s the opposite of yours when it comes to value positioning, what would it be?
If chip packets (casual purchase, grab quickly, ephemeral) can be airline tickets (considered purchase, carefully researched, memorable)… anything goes!
How can you reframe your product or service as something else altogether in order to offer a PERSPECTIVE SHIFT on the value you bring? One starter question: if you had to pick a product that’s the opposite of yours when it comes to value positioning, what would it be?
If chip packets (casual purchase, grab quickly, ephemeral) can be airline tickets (considered purchase, carefully researched, memorable)… anything goes!
