TEDX: Trends to Answers
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Marketing
The most profitable marketing innovations of the last decade were created on the upswing of a new consumer expectation - a trend that was changing the marketplace – and the most profitable were the brands who took advantage of them first. In this recent talk, Leigh Householder shows how to uncover shifts in consumer expectations and use them to spur innovation and smart risks for your brand. See the video of the talk here: https://vimeo.com/101919022
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TEDX: Trends to Answers
- TrendsToAnswers Leigh Householder
- TREND VIP-Pets Humanization of pet traits cluesA Pet Parent Owners start to see their pet as part of the family B Humanization Products started to give human characteristics to pet toys and foods C $35M In 2007, consumer spending was expected to double from $17M to $35M
- TREND VIP-Pets Humanization of pet traits
- TREND Amazonification Using online opportunities to buy goods and services cluesA Trust A new level of trust in online retail B Expectation An expectation that “The best deal” is only a few clicks away C Delivery The ease of at-home delivery
- TREND Amazonification Using online opportunities to buy goods and services
- TREND “Know-me Expectation” Today most people expect brands to use what they know about us to create more personalized experiences. cluesA Personalization Time and loyalty was increasingly being driven by the personalization of products B Sharing People share in short comments, pictures and videos C Recommendation Recommending a product seemed to give people a stake in the brand, a new kind of ownership and affinity
- TREND “Know-me Expectation” Today most people expect brands to use what they know about us to create more personalized experiences.
- The most profitable marketing innovations of the last decade were created on the upswing of a new consumer expectation - a trend that was changing the marketplace – and the most profitable were the brands who took advantage of them first.
- Why Innovation By Brainstorming Doesn’t Work The Myth Of The Brainstorming Session Groupthink: The Brainstorming Myth The Brainstorming Process is B.S., But Can We Rework It?
- A. Trends Trends are ways that people’s expectations are changing They let brands act systematically to capture market opportunities, take smart risks and spur innovation
- A Clue Hmmm.... A Clue, Really?
- Shifting Point of Care TREND emergingmature
- clues B 43% 43% of doctors email with their patients A 12% Telehealth is growing and in 2014, 12% of care will be delivered remotely C Caregivers Almost 40% of Americans are acting as caregivers, up from 30% in 2010. - Pew Research, 2013
- 1 Email and Text Check-ins The trend has been slowly growing year over year. Today almost half of doctors are emailing with their patients. Smaller groups are connecting with them in even shorter ways – like text and instant messaging. Secure Messaging Email 43% 19% 15% 9% SMS/Text Messaging Instant Message
- Telehealth Over the last 12 years, the U.S. Veterans Administration has been building the Care Coordination/Home Telehealth (CCHT) program, one of the fastest-growing telehealth programs in the world. Program Growth Rate Reduction in patient bed days 58% 29% 2
- HealthSpot HealthSpot represents the first true integration of telehealth and primary care. HealthSpot is a mobile screening kiosk that integrates telecommunication and traditional medical devices to create a quick and convenient medical care facility.
- Group Exams More and more physicians are offering shared medical appointments. They can include a few patients or up to 16 people who share the same chronic condition. 13% of doctors offer shared medical appointments13% 3 85% of people who attend sign up for another 85%
- The Data Debate TREND emergingmature
- clues B Nike Fuelband Criticism over Nike’s Fuelband hints at “fuel points” not being a standard metric A 100M The wearable tech market is expected to grow to 100 million units by the end of 2014 C How much? “Unless we carefully think about what we're going to do with this data, it ends up being excessive and might not be very useful for the patient's health” – Dr. Fred N. Pelzman, MD
- Does my doctor want a stream of my data? What will my doctor do with the information? Will they have time to research my data? Can I trust my wearables results? What if my doctor doesn’t know what to do? Which product should I use for my condition? How reliable is the information? What should I be tracking and why? Does it help my doctor identify problems?
- 28% of consumers plan on buying a device 1 in 3 consumers say that they have heard of wearable fitness trackers 33% 28% 6% 58% 6% want to buy a device to share stats on social media Women outnumber men on wearable devices purchased Tracking the Tracker Market
- Competitive Data TREND emergingmature
- A Effective Scientists have found that seeing comparative data is a more effective route to behavior change clues B Social Proof When people are uncertain about a course of action, they tend to look outside of themselves C Reward & Status Social media outlets use reward & status motivators to drive users to participate
- Towel Reuse Rate In one experiment, a team led by Noah Goldstein, discovered that a simple sign telling people that “most guests in this hotel reuse their towels at least once during their stay” increased reuse rates by 26%. 1 Increase towel reuse rate 26%
- Automatic Automatic is a auto accessory that connects to your phone via low energy Bluetooth® giving you insight to your driving habits and comparing you EPA estimates 2
- Nest and MyEnergy Nest and MyEnergy compares your utility bills to similar homes and with your friends and neighbors, motivating you to be more eco-friendly and save on your bills 3
- Trends Answers
- Thank You
Editor's Notes
- I want to talk to you today about how understand trends and changing expectations can fundamentally change how your market products to healthcare professionals and consumers alike. And then show some of the big trends we’re watching right now. But first….
- A pet treat in the shape of a fried egg. Real Viagra delivered to your door. A whole new kind of owners manual. What if I told you these are some of the most profitable marketing innovations of the last decade? Ones that perfectly met a need in the instant before a consumer ever even recognized she needed it.
- Right around 2007, we started to see clues that the family dog had a whole new role in the household. No longer was she simply a protector or companion, she was a card carrying member of the family. We started to hear phrases like “pet parent” or “my cats are like kids to me.”
- The pet industry overall has grown to over $10 billion Pet insurance has seen 20% annual growth, doubling from its 2009 number. And Snausage has diversified its pet parent choices into new points of petting like the backyard bbq and picnic time. Along with that shift came humanization of pet traits. What was once seen as loyalty, devotion and respect became deeper emotional characteristics: love, affection, connection Over the next few years, pets would start needing lots of people things. From sweaters to spas, from jewelry to therapy. Del Monte got an early sense of this coming shift and gathered self described pet parents to uncover how to connect with them first. It turned out people food was an early luxury pet parents wanted to treat their dogs with Their guilty consciences fought that spoiling instinct through – knowing it wasn’t quite good for them Snausages could resolve that conflict. There was no matter time that breakfast to start. Importantly, this wasn’t a fully formed trend. Traditional market research would have told you there weren’t enough people who wanted the product to matter. But the product sold like mad. And was one of the early leaders in a market that’s still growing.
- Viagra was influenced by another set of clues. Ones we can call the start of the Amazonifcation of America. A new level of trust in online retail An expectation that “the best deal” is only a few clicks away The ease of at-home delivery They saw these emerging trends start to actually change their customers. Not all of them, but an increasingly compelling niche. Men who went online to avoid the in-person visit at the pharmacy or to just get a better deal. In total, almost 25% of men who thought they were taking Viagra were taking a counterfeit drug. And most of them actually had a prescription. ePrescribing logically should have solved the problem. 70% of prescriptions for Viagra are sent straight to the pharmacy. But it didn’t seem to change the numbers.
- The opportunity was focusing on those changing consumer expectations. The trends. The Amazonification of their customers. Working with CVS, Viagra created an online store for takes new prescriptions, checks that status of orders, even estimates insurance. In just its first week, it got over 1000 orders. 14% from former Viagra users – likely those people who were already trying to reinvent how they buy prescription drugs.
- The team at Mini picked up on some very different consumer clues. Ones that when mashed together and pointed to interesting new opportunities. They started to see the draw of newly personalized services, like Pandora, and the increasing amount of time and loyalty people would give them. The iPhones effect on how people share: Increasingly in short comments, pictures and videos And an unexpected twist on social sharing. Recommending a product seemed to give people a stake in the brand, a new kind of ownership and affinity. What they saw was a new kind of customer. One who if personally recognized and generally delighted would not only recommend, but re-buy the brand. They quickly launched a marketing program focused on current owners. What most of us would call CRM. Around the world, people went to rallies, received bling kits, even got personally recognized by billboards they passed. Thousands of photos, more social recommendations than any other brand and the #1 owner loyalty in their category – almost 1:3 MINI drivers buy the brand again. Today most people expect brands to use what they know about us to create more personalized experiences. MINI was one of the first movers in answering that emerging expectation. http://4.bp.blogspot.com/-R4PuoDc9dSI/TzxEiSxwNbI/AAAAAAAAAXM/av2atSoTuus/s400/2012%2Bmini%2Btakes%2Bthe%2Bstates.png http://www.theadnostic.com/lauren/SecretBox6.jpg http://tctechcrunch2011.files.wordpress.com/2007/02/minimotorby.jpg
- The team at Mini picked up on some very different consumer clues. Ones that when mashed together pointed to interesting new opportunities. They started to see the draw of newly personalized services, like Pandora, and the increasing amount of time and loyalty people would give them. The iPhones effect on how people share: Increasingly in short comments, pictures and videos And an unexpected twist on social sharing. Recommending a product seemed to give people a stake in the brand, a new kind of ownership and affinity. What they saw was a new kind of customer. One who if personally recognized and generally delighted would not only recommend, but re-buy the brand. They quickly launched a marketing program focused on current owners. What most of us would call CRM. Around the world, people went to rallies, received bling kits, even got personally recognized by billboards they passed. Thousands of photos, more social recommendations than any other brand and the #1 owner loyalty in their category – almost 1:3 MINI drivers buy the brand again. Today most people expect brands to use what they know about us to create more personalized experiences. MINI was one of the first movers in answering that emerging expectation. http://4.bp.blogspot.com/-R4PuoDc9dSI/TzxEiSxwNbI/AAAAAAAAAXM/av2atSoTuus/s400/2012%2Bmini%2Btakes%2Bthe%2Bstates.png http://www.theadnostic.com/lauren/SecretBox6.jpg http://tctechcrunch2011.files.wordpress.com/2007/02/minimotorby.jpg
- Let’s look at this another way You’ve probably seen headlines like these They’re typically followed by research projects and studies that indicate that the best ideas – the ones that are both innovative and doable, profitable and desirable – don’t come from big open-ended brainstorms
- Staring at that glaring blank white board, Sharpie in hand limits us in powerful ways: To what we already know To our personal experience To the current normal To what’s been done before
- Actively collecting and understanding trends can change that Trends are ways that people’s expectations are changing They’re fueled by the technologies, media, brand experiences, and people we interact with every day They can form and stay in small pockets or entirely change a culture. Understanding them lets brands act systematically to capture market opportunities, take smart risks and spur innovation
- We find them first in clues
- People are spending less time with their doctors and more time with snack-sized healthcare. In an effort to improve population health, increase patient satisfaction and reduce per capita healthcare cost, the conversation is moving outside of the exam room and into personalized points of care.
- The goal is to identify health risks early and create incentives designed to improve outcomes of key clinical populations. From these clues, we can see that health value exists by bringing conversations to a personal level and closer to our daily lives and the power of this healthcare is taking many new forms.
- Emailing your doctor has been slowly growing year over year. Today almost half of doctors are emailing with their patients. Smaller groups are connecting with them in even shorter ways – like text and instant messaging.
- With emerging technologies and ever-growing capabilities of mobile devices, the care that we receive is usually no further than our coffee table. The rise of telehealth can either be as simple as a video conference about a patient’s current condition or as futuristic as remote surgery using robotics. The use of telehealth and home monitoring in the UK has show to improve mortality rates by 47%. If an “Apple A Day, Keeps The Doctor Away”, a mobile device and an internet connection welcomes them in.
- HealthSpot represents the first true integration of telehealth and primary care. Unlike other solutions, HealthSpot has the tools to empower any doctor or specialist to provide the amazing, high-quality care they’ve always provided, but with more efficiency, more convenience and a great telemedicine experience for the patient.
- For doctors, the visits are just more efficient. Where they once spent hours and hours of the day explaining the same procedure or needed behavior change to patient after patient, they now have just a few, deeper conversations. For patients, the group interaction is more powerful. They learn from listening to questions from others in the group and connect around shared experiences.
- We can learn so much about ourselves from the very source – ourselves. The quantified self is a trend that has a lot of us questioning, “What are we going to do with all of this knowledge?”. Data hungry users are implementing wearables to jump start their healthier lives. Whether working to keep our health or fighting to restore it, we now have the ability to take our data and convert it to real life changes. Or can we? This is the debate. When does big data get to be too big and how can we sift through the priority clues to convert that data into beneficial solutions. And how do we provide our own health data to our doctors when then don’t have a method to analyze it?
- The health benefits from wearables and other health tracking devices is a positive one. Fitness trackers and GPS connected phones are providing a motivational jumpstart to our exercise programs by gamifying the experience. But data that is misunderstood from these devices can often lead to misdiagnosis or other harmful conclusions. Health data is useless unless you know how to interpret the results.
- In order to gain positive results from bringing your own data to the exam room, we first need to understand it’s practical uses and how it will be applied to a current condition. How is this information going to change the conversation that I have with my doctor and is it relevant to the discussion? 7 in 10 doctors report that they have at least one patient bringing in self-tracking information that they don’t necessarily know how to deal with. As trackers, we need to understand these questions: Does my doctor want a stream of my data? What will my doctor do with the information? Will they have time to research my data? Can I trust my wearables results? What if my doctor doesn’t know what to do? Which product should I use for my condition? How reliable is the information? What should I be tracking and why? Does it help my doctor identify problems?
- Regardless of its initial adoption by data enthusiasts or by doctors, the health tracker market is growing and is set to gain consumer appeal through 2014 and years beyond. The debate with this technology is how do we harness its possibilities by connecting the consumer expectation with medical relevance.
- Competitive data is the new context that drives our sense of failure and accomplishment. We don’t want to keep up with the Jones, we want to beat them, with the goal of not being perfect, but just better than most.
- Automatic is a auto accessory that connects to your phone via low energy Bluetooth® giving you insight to your driving habits and comparing you EPA estimates.
- Nest and MyEnergy compares your utility bills to similar homes and with your fried and neighbors, motivating you to be more eco-friendly and save on your bills
- We live in a world of rapidly changing expectations. The opportunity is finding the smart risks, the ones that can truly change the marketplaces that are impacting your brand. We use trends to develop answers for where the world is going, not just to respond to where it’s been.