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Six Selected Trends by Augustine Fou
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Six Selected Trends by Augustine Fou

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n: Infobiquity – ubiquitous access to abundant information ...

n: Infobiquity – ubiquitous access to abundant information
v: Socialactivate – stimulating social actions by influential customers
n: Customassation – mass customization by individual need and want
v: Innovaccelerate – speeding up product and process innovation
n: Thingternet – connected network of every item, active or passive
v: Commercetextualize – providing the context for fluid commerce

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    Six Selected Trends by Augustine Fou Six Selected Trends by Augustine Fou Presentation Transcript

    • Digital Futures Six Selected Trends Augustine Fou- 1 - Dr. Augustine Fou http://linkd.in/augustinefou acfou @mktsci .com February 2013
    • The “Ask” “How will ‘digital’ change the world in the next 5 – 7 years and impact commerce, communication, and collaboration between companies and their consumers?” Augustine Fou- 2 -
    • Organizing Framework Commerce Communication Collaboration Digital n: Infobiquity n: Customassation v: Innovaccelerate n: Thingternet v: Commercetextualize v: Socialactivate ^ Augustine Fou- 3 -
    • Definitions n: Infobiquity – ubiquitous access to abundant information n: Customassation – mass customization by individual need and want v: Innovaccelerate – speeding up product and process innovation n: Thingternet – connected network of every item, active or passive v: Commercetextualize – providing the context for fluid commerce v: Socialactivate – stimulating social actions by influential customers Communication Commerce Collaboration
    • Expanding Perspectives Communication – exchange of information Commerce – exchange of value Collaboration – exchange of ideas Augustine Fou- 5 - “earn the right to have a conversation”
    • Expanding Perspectives Communication Commerce Collaboration Augustine Fou- 6 - Awareness Consideration Choice Purchase Loyalty
    • Communications Exchange of Information Augustine Fou- 7 -
    • n: Infobiquity CONSUMERS ARE: Always – on/connected Always – available/accessible Always – informed/empowered Abundant information (large amounts are created by consumers themselves) What it is: ubiquitous access to abundant information - - Augustine Fou- 8 -
    • n: Infobiquity Underlying or Enabling Trends Easier content creation and sharing Availability of mobile devices with broadband Search is a mainstream habit Easy to Create Access Everywhere Search Habit - - Augustine Fou- 9 -
    • • It is harder to stand out above the noise when advertising, as users turn to peers for recommendations • It is harder to maintain brand loyalty when challenger products have equal access to users’ attention • When users have a need, they go online to search for product(s) to satisfy the need • CPG advertisers have the opportunity to create long-lasting digital content that reinforces their brand while reducing their reliance on paid advertising n: Infobiquity Implications and opportunities for CPG Augustine Fou- 10 -
    • v: Socialactivate What it is: stimulating social actions by influential customers - - friendster myspace facebook Venues come and go But, social actions … Share, recommend, review, comment, like, etc. … are more effective and longer lasting Augustine Fou- 11 -
    • v: Socialactivate Underlying or Enabling Trends - - Source: Nielsen, April 2012 Users trust peers the most, ads the least Users spent 121B minutes on social networks in July 2012 Augustine Fou- 12 -
    • Collaboration Exchange of Ideas Augustine Fou- 13 -
    • n: Customassation What it is: mass customization for everyone - - Customize Tailor Create Select from limited set of colors, features Collection of apps make phone uniquely theirs Create small quantities of custom products Augustine Fou- 14 -
    • Previously users could customize their phones with personalized ringtones or colored covers. Advances in just-in-time manufacturing have enabled people to make custom mugs, t-shirts, and calendars with their own pictures. Users getting used to being able to tweak more than just settings on their devices; their collection of apps makes the phone uniquely theirs. n: Customassation Enabling or Underlying Trends - - Augustine Fou- 15 -
    • TED Talk Malcolm Gladwell - Choice, Happiness and Spaghetti Sauce “the difference between coffee at 60% and coffee at 78% is the difference between “wincing” and being “deliriously happy” Augustine Fou- 16 - http://www.ted.com/talks/malcolm_gladwell_on_spaghetti_sauce.html
    • • Instead of static products that sell based on a fixed set of features, think about creating products that invite interaction and customization • Basic CPG products need to add value beyond the product -- value comes from customization and personalization n: Customassation Implications and opportunities for CPG Augustine Fou- 17 -
    • v: Innovaccelerate - - • consumers say they want to collaborate with brands to make products • crowd-sourcing consumer research incorporating into product development cycles What it is: speeding up product and process innovation Augustine Fou- 18 -
    • P&G’s Efforts - - Augustine Fou- 19 - Business Sphere Added 22 Aug 2011P&G's groundbreaking Business Sphere environment and Business Sufficiency analytic models enable the Company to be rapidly responsive to changes in the marketplace and uncover new opportunities to improve the lives of consumers. http://www.pg.com/en_US/innovation/index.shtml
    • v: Innovaccelerate - - Implications and opportunities for CPG • By observing what users actually do in real time we can build insights into the process of innovation • By using digital channels to test-and-learn, we can drastically increase speed-to-market for product innovations Augustine Fou- 20 -
    • Commerce Exchange of Value Augustine Fou- 21 -
    • n: Thingternet Every item is “on the grid” actively or passively Augustine Fou- 22 -
    • n: Thingternet Implications and Opportunities for CPG • Refrigerators can detect what items are low and automatically place orders for replenishments • Individual bottles of shampoo can be detected by NFC on smartphones and provide information to help trigger the sale • With RFIDs, manufacturers can detect the velocity of sales down to single stores (“transaction visibility”) Augustine Fou- 23 -
    • v: Commercetextualize Providing the context for fluid commerce User searches for “pizza” … from smartphone around noon in the city User searches for “pizza” … from desktop computer on on Friday night in suburbs Looking for a place for lunch Looking for pizza home delivery Augustine Fou- 24 -
    • v: Commercetextualize Augustine Fou- 25 - Implications and Opportunities for CPG • Understand consumer “contexts” and when they are most receptive to exchanges of information, but also to exchanges of ideas and value • Test-and-learn through ecommerce (eliminates the limitations and dependence on retail distribution)
    • So What? Augustine Fou- 26 - “The six selected trends should synchronize and synergize to drive communications, collaboration, and commerce between the business and its customers, and should thus improve every aspect of the business from marketing, to R&D innovation, sales, and organizational structure.” -- Dr. Augustine Fou
    • Dr. Augustine Fou – Chief Digital Strategist “I analyze trends and advise clients on getting out in front of them and leveraging the insights to create sustainable competitive advantage.” FORMER CHIEF DIGITAL OFFICER, HCG (OMNICOM) MCKINSEY CONSULTANT CLIENT SIDE / AGENCY SIDE EXPERIENCE PROFESSOR AND COLUMNIST ENTREPRENEUR / SMALL BUSINESS OWNER PHD MATERIALS SCIENCE (MIT '95) AT AGE 23 ClickZ Articles: http://www.clickz.com/author/1151/augustine-fou Slideshares: http://www.slideshare.net/augustinefou LinkedIn: http://www.linkedin.com/in/augustinefou Augustine Fou@acfou
    • APPENDIX
    • More Trends Considered Trend • Cloud Computing • Reduce, Reuse, Recycle • Mobile/Tablet Revolution • Hyperlocal Marketing • Organic/Locavore • Spend Polarization • Big Data / Analytics • Vigilante Consumer • Green/Environment • Crowdsourcing/Outsourcing • Online/Apps casual gaming • Private Label /Store Brand • Sharing Economy Source(s): • Intel • NRDC • KPCB Internet Trends • Vivaki • CPG Marketing Trends • Go-Digital Blog • L2 • Faith Popcorn • SymphonyIRI Example(s): • RecycleBank • CrowdSpring • App Stores • Zipcar, AirBnB Augustine Fou- 29 -
    • Even More Trends Trend • Blurring online and offline • Manufacturers going direct • Quantified self • Proliferation of sensors • Daily deals • DIY - Instructables • Crowd Funding – KickStarter • Indie Designers – Etsy • Remixing Fashion – Polyvore • Original video series on YouTube • OTT video streaming • Mobile device as video content receiver (not cable) Augustine Fou- 30 - Trend • Subscriptions for household goods • Amazon Coins • Casual Gaming • Streamed video games – OnLive • 3D printing • Globalization • Craft Beer, niche products • Augmented reality • Privacy vs targeting • Devices becoming irrelevant • Mobile as first screen • Broadband widely available
    • Even Even More Trends Trend • Universal currency • Commerce through the device • Device is form of identity • Prices continue to go down • Commoditization more rapid • Personalization • What we want; when we want it • From hardware to software • Explosion of content • Need for context, curation • Phones used for texting, not voice • Customize coke • New distribution models Augustine Fou- 31 - Trend • Fast manufacturing – Zara • Robotification – micro, autonomous – Roomba • Regulatory and carrier hurdles that own the last mile to user • Location based marketing • Adding utility/usefulness to user • User shares to get something in return