With new innovations and changes in consumer and information habits, the pressure on brands continues to grow. In a dynamic environment, brand strategy must be regularly reviewed in order to meet consumers and their needs. "For us, trend research is not about chasing after every trend, but about gaining a basic understanding of contemporary society with all its drivers, needs and cultural and technological trends and developments. We have to recognize, name, sort and locate these. This is the only way we can develop communication strategies that match the reality of consumers' lives," says Dorothea Plümer, Senior Consultant Strategy Group and responsible for trend research at Initiative.
These three key aspects will therefore determine whether brands retain their relevance for consumers in the future.
1. brands will only remain relevant for customers if they interpret and react to cultural signals at an appropriate speed.
New trends are constantly being proclaimed and chased through the village like the proverbial pig - or the hip flamingo or sloth. However, a deep, holistic consideration of the relevant cultural drivers, social change and technical developments is necessary in order to prepare for changes at an early stage and take them into account in brand management. Brands must learn to move at the speed of change. This is the only way they can adapt to the changes or even help shape them. Because this is how they are measured by their consumers.
2. we can only be successful with communication if we understand how consumers think, feel and act and where they get information and inspiration along their dynamic customer journey.
Technological progress, changing consumer needs and the resulting micro and macro trends are moving the market and therefore also the way we communicate - or should communicate. How and through which channel companies can best get in touch with consumers in the future is fed by the knowledge of these changes.
It is primarily on the basis of innovative and sustainable trend management that we can derive communication strategies that support companies in reacting appropriately to change. Because only if we know where to pick up consumers in their world of life and needs can we respond with communication offers that capture their attention.
3. strategically classifying cultural change, aligning it with the brand core and deriving suitable communication measures will become an important lever for communication and differentiation for companies.
Cultural and social change as well as the technological progress taking place in parallel are becoming increasingly relevant for brand communication. For example, new platforms and technologies are leading to a further increase in consumer behavior that avoids advertising. The ever-growing need for transparency and trust or the constant search for even more convenience or individualized offers are also constantly presenting brands with new challenges.
However, not every consumer need and every trend influences every brand in the same way. The challenge is to recognize and anticipate relevant trends without compromising the brand essence. When trend-based brand management and sustainable brand development and maintenance are combined, the brand always remains current and at the same time recognizable in the context of social change.
Transparency, credibility and trust are highly valued by consumers. Nevertheless, even in data-sensitive times, they are still and increasingly willing to hand over their data. What do they want in return? Buying tips, inspiration and simplification in the jungle of offers.
These six developments are relevant for Initiative 2019 in terms of communication.
#1: Instant Marketing:
Expectations of brands and companies are growing in line with consumers' ability to do and access things immediately and locally at any time. A mobile approach is highly relevant and increasingly unavoidable in order to satisfy and fuel consumers' hunger for information.
#2: Voice - When brands learn to speak
With the rise of smart speakers, marketers need to remember that there is an audio element to branding. After all, people communicate through a multitude of senses. A brand's visual identity is reinforced by its audio identity. Companies should use sound branding to anchor their brand in the consumer's ear canal.
#3: YOUniverse
The trend that was already relevant in 2018 is continuing thanks to big data and AI. Microsites, personalized landing pages, user-generated content and, above all, context marketing with its unique content tailored to the individual user journey are good communication channels for a contemporary one-fits-one approach.
#4: My-tainement
The process of digital evolution in the media industry continues unabated. Not only music streaming and VoD, but also e-books, e-papers, online news and podcasts are being used more and more by all age groups. Users are increasingly willing to pay for customized content.
#5: Live Video
We already predicted a renaissance for live communication in 2018 with experiential consumption. In times of fleeting to non-existent advertising contacts, this type of approach offers an attention-grabbing opportunity to get in touch with consumers. This strengthens brands, as authenticity in particular is becoming increasingly relevant for consumers in these "fake" times.
However, as the number of platforms grows, so do consumers' expectations of content and its senders. Good live content needs good preparation. It must be conceived by the consumer.
#6: Recipient KPIs - New qualitative indicators
When the consumer is at the center of communication, user signals become increasingly important. Marketers who want to provide a holistic view of the consumer need key figures that reflect this view. New currencies such as engagement or dwell time are increasingly being used to reclassify the quality of customer contact.
The combination of relevant key figures, i.e. a kind of scorecard for customer contacts, represents the future of evaluation. However, there are no established standards for this yet. Cross-channel and cross-platform measurement requires individual cooperation between companies and agencies, as well as a bit of pioneering spirit.
However, this is necessary for all trends and as nothing is as constant as change, trend analysis and integration of the results is a continuous, year-round process.