MCLELLAN: Here’s what your customers are thinking about
Every year, advertising giant J. Walter Thompson (JWT) spends much of the year curating data from quantitative surveys of consumers in the United States and United Kingdom as well as gleaning input from JWT employees, clients and other influencers across a number of industries.
From that yearlong research, the company makes an annual forecast of the top 10 trends that will influence the coming year, particularly from a consumer point of view.
In past years, it pinpointed our reliance on location-based tools (GPS) and social media (Foursquare) and consumers’ drive to invest in their nest (home improvements craze) and that it would go beyond retail to entertainment (HGTV, etc.)
Suffice it to say, the forecasts have often been right on the money, so I always look forward to getting my hands on this annual report. (The full report is available for $250 at www.JWTIntelligence.com.)
I’ve spent the past few days reviewing the report and wanted to share a top-line look with you. If JWT’s success rate holds true, some of these findings are going to affect your business, if they aren’t already.
Navigating the New Normal: Many consumers have begun to accept that our economic reality isn’t an aberration; it’s just how it’s going to be. Many brands and companies are modifying their products to create new entry points for more cost-sensitive consumers.
Live a Little: Everywhere you go, you’re reminded that you’re not doing enough (exercising, saving) or you’re doing too much (eating, texting). This trend recognizes that overstressed consumers will be looking to splurge once in a while.
Generation Go: Today’s twentysomethings, more than any previous generation, have the attitude of “if I can’t find a job, I’ll just start my own business.”
The Rise of Shared Value: It’s not enough just to write a check anymore. It’s time to change your business model to be a better corporate citizen and make social issues part of a core strategy. More corporations are deciding that profits and social responsibility can be achieved at the same time.
Food as the New Eco-Issue: The environmental impact of our food choices will become a more prominent concern. Watch for market incentives around specific food shortages and pricing pressures.
Marriage Optional: Increasingly, women are making different life choices, and in growing numbers, those choices do not include marriage as an essential option.
Re-engineering Randomness: Our lives are so regulated, scheduled and structured these days that consumers are rebelling. People want to be surprised, to discover new things and to be inspired. Greater emphasis will be placed on reintroducing randomness, unique experiences and different points of view into our world.
Screened Interactions: What seemed like science fiction just a few years ago is now commonplace. More flat surfaces are doubling as screens, and we’ll be asked to interact with even more of them.
Objectifying Objects: As we live more of our lives digitally, we will begin to hunger for tangible items and find ways to meld our digital and physical experiences.
Why not be proactive? Think about how you could leverage these trends to better connect with and serve your clients.
Drew McLellan is Top Dog at McLellan Marketing Group and blogs at www.drewsmarketingminute.com. He can be reached by email at Drew@MclellanMarketing.com. © 2011 Drew McLellan