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Everything you need to persuade colleagues and clients of the power of consumer trends.

BECOME AN INSTANT TREND EXPERT

Via these 10 critical trend questions and their answers.

QUESTION #2

So Tinder* is a trend, right? Or is that just a fad?

* Insert hot new mobile/social app of your choice here.

Traditional market research is a powerful tool when it comes to many questions: market size, brand perception, audience share, and more.

But traditional market research is inherently backward-looking, because it is based on data about what consumers were doing and saying yesterday. And it is typically bounded by what consumers themselves are able to articulate about their wants, needs and behavior (and we all know what innovators from Henry Ford to Steve Jobs thought about relying on that).

Of course, data can support trend analysis. But trend watchers understand that if they rely only on conventional market research - that is, data on yesterday's consumer choices and statements - they'll risk missing powerful future opportunities.

When taken on aggregate new products, services and campaigns can help signal future directions for consumerism. But trying to draw broad conclusions based on the success or failure of individual innovations just won't work.

A single example is simply one attempt to adapt a trend for a specific context: that is, the target market and consumer. There are simply too many variables (logistics, financing, execution, etc) at work to draw conclusions about entire trends from one or even a handful of examples.

Plenty of peer-to-peer startups failed in recent years. But try telling the founders (and users) of Airbnb that this invalidates the ongoing trend for peer-to-peer consumerism.

Countless online and offline publications in every conceivable niche are creating a GLOBAL BRAIN of trend content that's accessible to all.

But here's what countless magazines won't tell you: trends are not the point. Trends are just a means to an end: successful (and profitable) innovation. It's all about applying trends: that's where you win your competitive edge.

Which trends to run with? That depends on you! Know your brand, capabilities and (potential) customers, and adapt the trend accordingly. Let deep human needs and wants be your anchor.

When to run with a trend? You can jump into almost any trend at any time, if you're aware of how it is evolving (tip - start with the latest examples).

Want to start applying trends? Just see the bonus question (Q 11) at the bottom of this Briefing ;)

Focusing on trends and innovation inside your industry alone is a sure way to lose. Why? Because you're not competing only against other players in your industry; you're competing against everyone.

Today, information and excitement about new products or experiences travels near-instantly. Consumer expectation - about what is possible, and who is doing it best - is set and reset at light speed. So who are your competitors now? Your industry colleagues? Or the brands in other industries that are finding new ways to surprise, delight, and raise expectations?

There's huge power in looking across industries. See how other brands are using trends to innovate. Learn the underlying lessons. Then adapt the trend to apply in your context.

You don't need a budget to use trends. Nor do you need to be in charge of innovation.

It only needed one waiter and a piece of chalk to launch the SYMPATHETIC PRICING innovation that saw French cafe La Petite Syrah offer discounts to polite patrons. If you have any contact with consumers, you can use trends.

If you really have no opportunity to apply trends in your current role, then there's never been a better time to launch a side project that has impact and can reach a limitless potential audience. Crowdfund, and you don't even need to leave your job until you know it's a success. Still looking for excuses? ;)

Phew! Can I get a summary of all that?

We're glad you asked! Here's a recap, as TEN TREND TRUTHS.

Truth #1. A consumer trend is a new manifestation among consumers - in behavior, attitude, or expectation - of a deep human need or want.

Truth #2. Fads come and go. Trends emerge and evolve.

Truth #3. Traditional market research is inherently backward-looking. Trends are all about right now (and, yes, tomorrow).

Truth #4. Spotting and analyzing new B2C innovations is at the heart of trend methodology.

Truth #5. Clusters of innovations can signal future directions for consumerism. Individual success or failure doesn't mean much.

Truth #6. In the end, trends aren't the point. The opportunities they highlight are. So get going!

Truth #7. Local context is important. But (now more than ever), people are people.

Truth #8. Consumers don't live inside industry silos. Neither should you.

Truth #9. Forget traditional demographics (they mean less and less). Instead, think adaptation.

Truth #10. If you have any contact with consumers, trends can be your (not so secret) weapon.

Bonus Question!

Okay, I understand trends. How do I apply them to come up with innovations of my own?

That's the spirit!

To get started applying trends today, use our free CONSUMER TREND CANVAS: a tool to help you unpack a trend, contextualize, and ideate.

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Everything you need to persuade colleagues and clients of the power of consumer trends. QUESTION #2 Traditional market research is a powerful tool when it comes to many questions: market size, brand perception, audience share, and more. But traditional market research is inherently backward-looking, because it is based on data about what consumers were doing and saying yesterday .