Consumers have become more demanding with Internet of Things becoming a reality and Brands are facing challenges from a new breed of players identified as Clean Slate Brands.
Look at this SlideShare, to see our take on 7 Consumer Trends and 7 Brand Trends which will shape the entire landscape in 2014 and beyond.
This is the era of the Screenager and with Multiple screens comes Multiple Paths to Purchase thus making it even more challenging for Brands to find that perfect fit of Communication and Engagement that can result in Consumer Loyalty.
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2. 7,200,429,000
TOTAL POPULATION
1 / 17
TABLET USERS
1/5
SMARTPHONE USERS
1/4
SOCIAL MEDIA USERS
1/3
INTERNET USERS
Figures as on December 2013
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Source: BI Intelligence
4. A new Consumer has emerged:
USER 3.0
SEARCH
SURF
SHARE
Avid Searchers who use Web + Mobile
to instantly research a product or
Service anywhere, anytime.
They form impressions about brands /
issues after seeing news / content / ads
& Reviews on the same by others.
Avid Social Media Consumers who
actively SEEK & SHARE experiences with
thousands of others in an instant.
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5. What to look forward to in 2014
Consumer Trends
Brand Trends
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7. CONSUMERS WANT MORE…
Over the past five years consumer expectations have
increased on average by 20%. The trend Continues…
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8. Newer, better, faster, cleaner, more open and responsive
CLEAN SLATE BRANDS
consumers are rushing to new
brands on the block and are
now lavishing love, attention
and trust on brands without
heritage and history.
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9. WEARABLE TECH is not
just for gadget heads.
The market for wearable tech is projected to reach $6bn by 2016.
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10. VISUAL ENGAGEMENT
Consumers, having become more visually literate, will move from text
outreach to more image-based connections.
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11. LUST FOR THE NEW
The ‘new’ has never been hotter, as the entire world, is
now creating new products, services & experiences, as
a way of life, in every industry.
!
Which moves 'NEW' from being a tired marketing ploy by ‘old’ brands ('new and improved!'), to a
genuine, exciting proposition for consumers.
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12. THE QUANTIFIED SELF
Blood pressure, pulse and steps are just some examples of how
consumers want to measure and track their health with mobile
devices, using personally-generated data.
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13. CROWDSHAPING
In 2014, more people will pool their data, profiles and preferences, in
groups (small & big) to shape new goods and services.
!
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Via social media, histories, ecommerce, endless read/watch/play lists, smartphone GPS services
and more, connected consumers are creating vast profiles and data trails that relate to everything
from their music preferences to their daily movements.
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14. BRAND IS AS A BRAND DOES
SMART
IDEAS
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15. To understand HOW to Sell your BRAND
You need to know…
WHERE IS THE
CONSUMER, TODAY.
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16. Brand is as brand does. What brands truly stand for, not just what they
say, will be the deciding factor in increased sales.
!
There will be an intensified focus on VALUES, BELIEFS & CSR.
!
Going well beyond the functional & emotional benefits of products and
services, corporate culture will determine brand loyalty.
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17. Social media becomes old school.
!
Social engagement transitions from being a shiny, new object to being a
customer service and marketing necessity.
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18. #INSTATRUST
Brands that simplify customer decision-making are 115% more likely to be recommended.
Now that experiences are increasingly shared, and even the newest of the new is instantly reviewed and
rated, consumers have THE F-FACTOR, and feel more confident in being earlier and earlier adopters.
THE F - FACTOR = FRIENDS / FANS / FOLLOWERS
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19. Brands Will Get Emotional
!
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Values that drive the decision process to select one brand versus another has
become more emotionally-driven.
!
Successful brands will need to identify what emotional values in the category they
compete, and use them for meaningful differentiation.
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20. Targeting Becomes Personal
!
With consumers craving – and expecting – more…
more customized, more personalized, more experiences…
!
Brands will increasingly need to respond to real consumer expectations.
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21. Mobile Optimised
!
Brands will need to adapt strategies and delivery mechanisms, content and flow of
communications to match increased consumer multi-tasking and multi-screen behaviour.
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22. Integration Intensification
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Brand marketing & digital budgets will fuse as teams work jointly.
!
Multi-platform traditional & digital models will require social media integration into all marketing
efforts, with responsibilities extended to customer experience, design, sales, and product development.
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23. The Funnel Flattens
What used to be a “purchase funnel,” that became a “path-to-purchase,” will
become a “multi-path-to-purchase” & will become extraordinarily category specific.
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24. 2014 will set the pace for a New
Paradigm in Consumer Engagement
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25. Digital Media is not a medium to simply broadcast
your communication message
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26. Use it to nurture & build your BRAND
&
Use it to build lasting RELATIONSHIPS
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