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Future of Now

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Future of Now presentation

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Future of Now

  1. 1. The Future of NOW
  2. 2. How Innovations & Consumer Behavior Lead To Consumer Insight
  3. 3. Overview Consumer Challenges - how is the world impacting consumers and their behavior? Consumer Desires - what do consumers crave? Consumer Trends - what are consumers doing? Consumers by Generation - who are they? How do we Benefit? Sources
  4. 4. Consumer Challenges Largest population segment is retiring Cost of living is rising Median household income has dropped 4 years in a row Discretionary income is down for the middle class Consumer confidence is lowest in a decade Consumers are overwhelmed with choices 70% of workers are unhappy in their jobs Unemployment is still high
  5. 5. Consumer Behavior Consumers are on the hunt for deals Consumers trust reviews not advertising Consumers are afraid to spend, especially on large purchases
  6. 6. What That Means Price is a major component to purchases, consumers spend more time researching than buying Consumers are less impacted by marketing and more impacted by customer reviews on 3rd party sites, social networks, non-affiliated influencers Consumers are afraid to spend, especially on large purchases
  7. 7. Consumer Desires Multiplicity Hyper-Efficiency New Industrial Revolution Escape Mindfulness Super Personalization
  8. 8. Multiplicity Consumers want multiple touch points, multiple senses stimulated, and above all, they want to actively engage.
  9. 9. Hyper-Efficiency Consumers are expecting more from their products and services as well as themselves. They have an intense need for faster, smarter and more efficient solutions to age-old problems.
  10. 10. New Industrial Revolution 3D printing, DIY, crowdsourcing, coding for kids, etsy... Consumers are doing more than consuming, they’re creating on their own, all enabled by technology.
  11. 11. Escape Dual-career households, austerity, fast-paced change are driving consumers to indulge in childlike freedom.
  12. 12. Mindfulness Consumers are seeking deeper meaning, craving to unplug, planning self-development, honoring their ethical responsibilities.
  13. 13. Super Personalization It’s not enough that consumers can personalize products and services, they expect brands to initiate the personalization. They demand context and relevance.
  14. 14. Consumer Trends Driving innovation Leveraging technology Visualizing Centering themselves in the brand experience Disengaging Changing channels
  15. 15. Driving Innovation According to Roger’s Diffusion of Innovation Theory: “personal and optional innovations usually are adopted faster than the innovations involving an organizational or collective innovation-decision” Consumer adoption is driving innovation. Innovators & Early adopters are key influencers. 0 10 20 30 40 50 60 Join Groups Follow Groups/Orgs Post/Watch Video Support Causes Looked for Information INNOVATORS 2.5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY
  16. 16. Leveraging Technology Tablet ownership 36% Smartphone ownership 55% Laptop ownership 75% SmartDevice ownership 36% Multitasking during TV +5x In-home smart devices 50% iPad 8:35 PM
  17. 17. Visualizing 46.1% of people say a website’s design is the number one criterion for discerning the credibility of the company. 85% of consumers watch video online. 60 hours of video is uploaded to YouTube each minute. 85% of consumers are more likely to purchase a product after watching a product video. 800% increase in Google searches for the term “infographic” since 2012.
  18. 18. Consumer-Centered Brand Experience Participant User Customer Producer Community Consumer < > CONSUMER
  19. 19. Disengaging Only 25% of consumers have brand loyalty
  20. 20. Changing Channels Consumers are constantly shifting away from irrelevant advertising requiring brands to either find new channels, gimmicks and tricks to get their attention, or do better, more relevant and targeted advertising.
  21. 21. Generations
  22. 22. Baby Boomers Data Personality Media Consumption Born 1943-1964 Ages 50-71 hrs/week ‘Boomers’ have a strong set of ideals and traditions, and are regarded as being very family-oriented. They are fearful of the future, relatively active and liberal socially but conservative politically. Internet Web 7 VATORS .5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY 0 10 20 30 40 50 PhoneWebTV 48 7 >5
  23. 23. Baby Boomers Top 5 Sources for Topics of Interest Online Activities Social Network Activities Internet Friends & Family Television Magazines/Newspapers Brochures/Catalogues 83% 77% 65% 52% 36% 0 10 20 30 40 50 60 Join Groups Follow Groups/Orgs Post/Watch Video Support Causes 0 10 20 30 40 50 60 Talked to Others Contacted Business/Org Visited a Website of Interest Made a Purchase Looked for Information 10 20 30 40 50 TV 48.25 Web 7 INNOVATORS 2.5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY 10 20 30 40 50 48 7 0 10 20 30 40 50 60 Join Groups Follow Groups/Orgs Post/Watch Video Support Causes 0 10 20 30 40 50 60 Talked to Others Contacted Business/Org Visited a Website of Interest Made a Purchase Looked for Information 30 40 50 TV Web INNOVATORS 2.5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY 40 50 48 7
  24. 24. Gen X Data Personality Media Consumption Born 1961-1976 Ages 38-53 hrs/week Generation X lives in the present, likes to experiment, and expects immediate results. Xers are selfish and cynical, and depend a lot on their parents. They question authority and feel they carry the burden of the previous generations. ernet eb 25 ORS 13.5% 34% 34% 16% LAGGARDS ARLY ADOPTERS EARLY MAJORITY LATE MAJORITY 0 5 10 15 20 25 30 35 40 PhoneWebTV 36 9.25 16.8
  25. 25. Generation X Top 5 Sources for Topics of Interest Where Gen X Connects with Brands Gen X Spends $561 Billion Online Internet Friends & Family Television Magazines/Newspapers Brochures/Catalogues 83% 77% 65% 52% 36% Online Shopping by gender Shopped online last year Cart abandonment rate % of consumers purchase in 24 hrs Tablet owners who bought with their device 52% Female/48% Male 4x or more 89.2% 88% 85% 0 10 20 30 40 50 60 70 80 Pinterest Twitter Facebook 0 20 40 60 80 100 Travel Planning Shopping Banking News/Weather Email 15 20 25 30 35 40 TV 36.25 Web 9.25 62% 11% 23% INNOVATORS 2.5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY 20 25 30 35 40 36
  26. 26. Milleniels /GenY Data Personality Media Consumption Born 1977-1994 Ages 20-37 hrs/week The Y Generation is regarded as being materialistic, selfish, and disrespectful — but also very aware of the world and very technologically literate. They are trying to grow-up too quickly, and have no good role models to look towards. Internet Web 25 VATORS .5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY 0 5 10 15 20 25 30 PhoneWebTV 26 25 22
  27. 27. Milleniels / GenerationY Milleniels Connected Obsession Where and When They Connect Online Shopping Favorite Social Networks/Apps Compulsively check updates Anxious w/o smartphone Don’t trust security of SoNets Spend equal time w/ friends online as in real life 90% 77% 75% 67% In bed At dinner In the bathroom While driving 75% 76% 35% 20% Shop online Rely on customer reviews Share email for discounts Not willing to share phone, address, or other personal data 90% 58% 57% 97%
  28. 28. Gen C (Connected) Data Personality Media Consumption* Born 2001-2020 Ages 0-13 hrs/week Generation C is a somewhat unknown entity, being so early in it’s development. It has grown up with the violence of global terrorism, is the first truly digital native and will be the most racially diverse. Phonenet b 4 VATORS .5% 13.5% 34% 34% 16% LAGGARDS EARLY ADOPTERS EARLY MAJORITY LATE MAJORITY PhoneWebTV 0 5 10 15 20 25 30 PhoneWebTV 25.7 24 24
  29. 29. Generation C Facebook Media Consumption In-depth Generation C & Technology Favorite Apps While media consumption of Gen C seems slightly less than Gen X and more than Milleniels, it should be noted that in a day that consists of 7.5 hours of media consumption, more often than not, Gen Cers are consuming 10 hours and 45 worth of media by using 2 screens at once. Children under 13 spend an amazing 10 hours per week on a phone. Despite Facebook rules blocking anyone under 13 to join, there are currently 7.3 million members of Gen C on Facebook, 5 million of those are under 10. Average age of 1st cell phone Number of gamers Under 2 using a mobile device Have bedroom TV Increase in daily use of mobile device since 2011 12 20.4 million 38% 32% +225%
  30. 30. What have we learned? • Traditional media still works but take advantage of new media such as mobile apps, games and social networks, especially with younger audiences. • Consumers have less to spend, always looking for deals and rely in consumer reviews to help them make decisions. • Consumer engagement on mobile is increasingly outpacing desktop digital and television. • Consumers want multiple touchpoints but don’t just want to be treated like buyers. • Consumers want brand engagement on their terms and on their turf.
  31. 31. How do we take advantage of these trends? • Being innovative and targeting early adopters will put you ahead of the competition. • Selling lifestyles rather than products works even better today, but make sure you really understand your audience’s lifestyle aspirations. • You can no longer rely on brand loyalty, you have to win the consumer every time. • Always think ‘mobile first’. • See consumer in ways other than just customers. • Connect with consumers in ways outside the sales cycle. • Don’t try to own the conversation, engage with consumers where they want.
  32. 32. Questions? Contact If you have any questions or are ready to dive into your brand’s analytics contact your account executive directly or through one of the options below: info@fuseideas.com 617-776-5800 Fuseideas 8 Winchester Place Suite 302 Winchester, MA 01890
  33. 33. Sources Reaching Today’s Boomers and Seniors Online, Ipsos and Google. 2013 7th Annual State of the Media Democracty, Deloitte. 2013 comScore Connect Your Life, Wi-Fi Alliance®. 2013 SEOMoz B2B Demand Generation Benchmark IndustryView | 2013, Forbes. 2013 Stanford Persuasive Technology Lab Nielsen Forrester Research: State Of Consumers And Technology Benchmark Department of Translation Studies, University of Tampere Mashable Bureau of Labor Statistics 2012 Cisco Connected World Technology Report Pew Research Center Met Life Sudy of Gen X: The MTV Generation Moves Into Mid-Life Visa: Generation Z Monetate: ECommerce Quarterly National Retail Foundation

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