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Thrive in the Expectation Economy: The Most Exciting and Urgent Trends of 2016 and Beyond
TMRE Keynote Presentation
Thrive in the
Expectation Economy: The Most Exciting and Urgent Trends of 2016 and Beyond
Expectation Economy: The Most Exciting and Urgent Trends of 2016 and Beyond
Maxwell Luthy, Director of Trends and Insight, TRENDWATCHING
Why track consumer
trends?
trends?
To have a future vision and create products or services two
to five years from now.
to five years from now.
The first component of every trend is change: social change,
technological change, environmental change, and economic change. Yet, basic human needs do not change,
including relationships, community, and survival.
technological change, environmental change, and economic change. Yet, basic human needs do not change,
including relationships, community, and survival.
The second component of every trends is innovation. The
first example was Uber'and how quickly consumers change their habits to adapt
to the app and service.
first example was Uber'and how quickly consumers change their habits to adapt
to the app and service.
The third component is emerging expectations. Expectations
transfer. One-touch service for amazon, created one touch for Uber, and even go
to tender. This is an economy of expectations. It impacts all of your
customers.
transfer. One-touch service for amazon, created one touch for Uber, and even go
to tender. This is an economy of expectations. It impacts all of your
customers.
The good news is tracking Trends helps you surpass the
Expectation Economy.
Expectation Economy.
1st key
thought: See technology through a lens of basic human needs and wants, not
from the tech buzz.
thought: See technology through a lens of basic human needs and wants, not
from the tech buzz.
2nd key
thought: Explore the sharing economy. Cars. Umbrella.
thought: Explore the sharing economy. Cars. Umbrella.
3rd key thought:
Who do people feel where they are? People are impatient. What are all the
consumer touch points? You can study the Domino's Everywhere campaign. So, how
do you get to contextual omnichannel?
Consider the use of emoji to understand customer behavior. Think of new
channels'for example, Spotify's partnership with Uber. Challenge yourself to
think about new context and channels.
Who do people feel where they are? People are impatient. What are all the
consumer touch points? You can study the Domino's Everywhere campaign. So, how
do you get to contextual omnichannel?
Consider the use of emoji to understand customer behavior. Think of new
channels'for example, Spotify's partnership with Uber. Challenge yourself to
think about new context and channels.
4th key
thought: A compelling brand is still about feelings. Have you explored
two-way transparency between brands and people? Uber rates passengers. In 2016
expect to see more brands rating customers.
thought: A compelling brand is still about feelings. Have you explored
two-way transparency between brands and people? Uber rates passengers. In 2016
expect to see more brands rating customers.
Can you use two-way rating and transparency for all
involved. Brand transparency is more important than ever. You must prove you
have a healthy corporate culture'and show the world an inside out view of your
company. People want to like companies and how they treat their employees.
involved. Brand transparency is more important than ever. You must prove you
have a healthy corporate culture'and show the world an inside out view of your
company. People want to like companies and how they treat their employees.
Ask yourself which aspect of you company culture would you
put up on a billboard?
put up on a billboard?
5th key
thought: Consumers aren't behaving as they should. Roles are reversed. More
women over 18 are gamers compared to boys. People break all the demographic
behavioral patterns we used to hold as sacred. Why? We have the global brain.
We've been urbanized. Lastly, we have cheap digital experimentation. These three
forces shatter all of our expectations of how people should behave according to
gender, age, and class roles.
thought: Consumers aren't behaving as they should. Roles are reversed. More
women over 18 are gamers compared to boys. People break all the demographic
behavioral patterns we used to hold as sacred. Why? We have the global brain.
We've been urbanized. Lastly, we have cheap digital experimentation. These three
forces shatter all of our expectations of how people should behave according to
gender, age, and class roles.
We are seeing heritage heresy: Playboy is excluding nude
photos. Harley Davidson is planning 35,000 trees. As cultures shift, brands
must adapt their ethos.
photos. Harley Davidson is planning 35,000 trees. As cultures shift, brands
must adapt their ethos.
The outcome: treat different people differently. Use
taste-led targeting, like Spotify. Fine tune to individual preference.
taste-led targeting, like Spotify. Fine tune to individual preference.
Michael Graber is the
managing partner of the Southern Growth Studio, an innovation and strategic
growth firm based in Memphis, TN. Visit www.southerngrowthstudio.com to learn more.
managing partner of the Southern Growth Studio, an innovation and strategic
growth firm based in Memphis, TN. Visit www.southerngrowthstudio.com to learn more.