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Five ways to spot a marketing trend that will last

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Historically trends have been set and followed by public opinion and perception – the, ‘I want one of those’ movements – all driven by a the boom in mass communications from the early origins of the TV and radio, right through to our devices today. A nostalgic look back at old pictures or images is usually enough to make us a cringe just a little. As opinions change, so do trends. And vice versa. It’s a self-perpetuating cycle of movement that rarely operates at one speed and is almost impossible to tell where one ends and another begins.

No surprise then that brands traditionally found it difficult to keep up, let alone identify what is going to be popular ahead of the curve. So, what’s changed? How can marketers identify a trend that will last, cut through the clutter and, ultimately, have the desired impact in terms of marketing value?

Best of both worlds

Opinion and desk research only go so far and penetrate so deep. Dossiers of information still take a long time to compile, sort, analyse, filter and deliver something useful. That isn't to say qualitative information isn't useful – it is. But the addition of proven, data-based observation and analysis is a game changer for brands. Technology means we can re-conceptualise what a trend is in ways never before possible. We can define a structure of social-cultural phenomena to create a hierarchy of concepts. This can include everything from hard evidence, facts and data, which are available to everyone, right through to hundreds of thousands of soft signals, like initial sparks of interest or minor changes in language and tone. These are things that are incredibly difficult for humans to identify, but easy for machines.

Platform peculiarities

There are so many social platforms it’s easy to come to the conclusion, ‘I’m seeing X everywhere, therefore it must be big’. There are many examples of the manifestation of this – the ALS Ice Bucket challenge being one of the most high profile in recent times – but largely these are more following than example setting. The combination of multiple devices and platforms means seeing the same story morning, noon and night is not uncommon. Though, while this would suggest a particular story has legs and longevity, it’s a false economy. One errant tweet from Donald Trump is likely to deliver an action and reaction on every social platform and news outlet; that doesn't make it a trend. The reason being that each and every platform has its own peculiarities. Repetition is not that useful if it doesn’t take into account all the nuances between platforms.

Listen to the insiders

So, who are people actually influenced by? It used to be their inner circle or selected experts. Not anymore. In the last few years, the role of the social influencer has boomed as brands bought into the concept of social media influencers, realising they have the power to overshadow celebrities due to their increasing online fame, honesty and credibility. However, it would seem these days that everybody on social is an influencer, which is a misnomer when it comes to trendspotting. It is often the case that it is not the quantity of followers that defines the most influential but the quality of content of those that are ‘in the know’. Those that have experimented with something first hand, be it a product or a lifestyle. Something we refer to as “insiders”. It would be like finding Zoella, before fashion and beauty blogging became ‘a thing’.

More science, than art

The simple truth is that if a trend is easily detectable by brands then it’s probably passed them by. Think of the amount of time it takes to mobilise internal teams, not to mention that an instinctive reaction to a trend is likely to torpedo any existing and budgeted activity. Methods are now more science than art. We live in an age of large-scale patterns, combined with the incredibly micro phenomena of the few flying under the radar. We’re in an age of images not words and we’re living in a time where we can convey human emotional behaviour through the use of colours and patterns on our screens. In tomorrow’s world, marketers need to take a large scale mathematical approach combined with a deep semantic driven understanding of the way that we as humans behave. It’s a potent mix.

Quantity v quality

For all the advances in technology, grasping the impact and opportunity of a trend remains fundamental. Understanding quality means that all future implications of a trend should be taken into consideration in order to avoid unexpected effects. Understanding quantity means having a clear idea of the total addressable market for a trend. By correlating quality and quantity, marketers can understand how much time and effort they invest and when. In this age of AI, marketing still needs a human touch.

Interested in hearing leading global brands discuss subjects like this in person?

Find out more about Digital Marketing World Forum (#DMWF) Europe, London, North America, and Singapore.

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Marketing Day: Facebook’s ad tests, Alexa’s email feature, Hulu’s OTT ad marketplace

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Here’s our recap of what happened in online marketing today, as reported on Marketing Land and other places across the web.

From Marketing Land:

Recent Headlines From MarTech Today, Our Sister Site Dedicated To Marketing Technology:

Online Marketing News From Around The Web:

The post Marketing Day: Facebook’s ad tests, Alexa’s email feature, Hulu’s OTT ad marketplace appeared first on Marketing Land.

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Usain Bolt named global brand ambassador for money transfer service Xoom

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Usain Bolt is known by many as the fastest man in the world. His global fame and quickness have been snagged by Xoom, PayPal’s international money transfer service, which has named the eight-time Olympic Gold Medalist as its global brand ambassador through 2020.

The partnership kicks off as Xoom expands its send-money service to customers in Canada, who will be able to send money, reload phones, and pay bills for loved ones in more than 130 countries globally.

The Jamaican-born sprinter will be part of Xoom’s inaugural international ‘Money Go Xoom’ marketing campaign launching this month in Canada and the United States. The new campaign, which touts Xoom’s ability to provide a fast, secure, and convenient way to pay bills or send money to people around the world, will be brought to life with Bolt in a variety of digital and broadcast spots.

“At Xoom, we’re deeply committed to delivering the fastest possible money transfer experience to our customers. So, Mr. Bolt was a natural fit to serve as our global brand ambassador,” said Julian King, vice president and general manager, Xoom, in a release. “We look forward to working with Mr. Bolt during an exciting time as we continue to expand our services and help new populations in need of fast and reliable international money transfers.”

Added Bolt: “Having experienced the difficulties of sending money to my own family back home in Jamaica, I’m thrilled to endorse and partner with a company that’s focused on delivering a fast and convenient way to send money or pay bills for family from afar.”

Xoom partnered with Bolt for his global association with speed and his shared values of supporting local communities around the world through service. In 2014, Bolt created the Usain Bolt Foundation, which creates opportunities for Jamaican youths through education, sporting provisions, and cultural development. PayPal and Xoom have a longstanding history of supporting the local communities in which they operate and hope to continue these efforts through their work with Usain Bolt over the next two years.

PayPal also owns payment platform Venmo.

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YouTube faces fan backlash over 2018 ‘Rewind’ video

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YouTube faces fan backlash over 2018 ‘Rewind’ video

YouTube’s annual recap video, showcasing some of the most popular influencers on the platform, has come under fire this year becoming the second-most disliked video in the website’s history.

YouTube Rewind 2018 has amassed more than 8.2 million dislikes at the time of writing, second only to Justin Bieber’s 2010 single Baby which was disliked more than 9.

The post YouTube faces fan backlash over 2018 ‘Rewind’ video appeared first on Netimperative – latest digital marketing news.

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