Monday, July 13, 2015

Turn Consumer Trends into Innovations

Photo: Watch tower of the dam, Embalse de los Bermejales, Arenas del Rey, Andalusia, Spain, by Jebulon. This file is made available under the Creative Commons CC0 1.0 Universal Public Domain Dedication.

“Just as a fish doesn't know it is wet, so companies often can't see or feel the very opportunities where they are swimming." - Pam Henderson, author of Killing Ideas

Watching and applying consumer trends can help brands and businesses capitalize on opportunities in their own backyards.

According to Maxwell Luthy, Director of Trends & Insights, Trendwatching.com, a consumer trend is "an emerging pattern of consumer behavior, attitude or expectation." At Trendwatching.com, they look for "clusters of innovations that have unlocked or newly serviced an existing consumer need, desire, want or value. Tracking trends helps you meet and surpass customers' rapidly changing expectations."

During the Total CX Leaders Conference last month, Maxwell described these six key consumer trends and how to apply them to enhance the customer experience:

1. Sympathetic pricing: Consumers love imaginative, targeted discounts that relieve lifestyle pain points, offer a helping hand in difficult times or support a shared value.

2.  Video valets: Consumers are coming to expect instant, video-based exchanges with brand reps when they need them.

3. Deliver (more than) goods: Truly customer-centric brands - established or new - will understand that delivery is just the start. Make customer experiences effortless, personal and surprising.

4. Politeness pays: Beyond two-way ratings, smart brands are realizing they can foster a better customer experience by rewarding good behavior - and even punishing the impolite!

5. Beneficial intelligence: Consumers will embrace services that use data and contextual understanding to make intelligent decisions, automatically sort daily tasks and offer the right advice at the right moment.

6. Post-demographic consumerism: Consumers are freer than ever before to construct their lifestyles according to their own ideals and tastes, with little regard for tradition.

Let's keep the Total CX Leaders Conference conversations going! Stay connected with TCXL15 at:
- twitter.com/#TCXL15
- linkedin.com/Total Customer Experience Leaders
- facebook.com/Total Customer Experience Leaders













Peggy L. Bieniek, ABC is an Accredited Business Communicator specializing in corporate communication best practices. Connect with Peggy on LinkedIn, Twitter, Google+, and on her website at www.starrybluebrilliance.com
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