Trend-Driven Innovation: book launch webinar
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Our brand new book, Trend-Driven Innovation (Wiley), shares the secrets behind our end-to-end trend methodology. Exploring a wide range of examples, and drawing powerful insights from the way leading brands and disruptive startups from Apple to Uber, Chipotle to Patagonia redefine customer expectations, this highly visual and intensely practical new book will reconfigure your view of the business world and act as a step-by- step manual to help readers build organisations that matter, products customers love and campaigns people can’t stop talking about. More at www.trenddriveninnovation.com
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Trend-Driven Innovation: book launch webinar
- 1. WELCOME! TREND-DRIVEN INNOVATION: HOW TO TURN OVERWHELM INTO OPPORTUNITY
- 3. THE AUTHORS!
- 5. “What will your customers want next?”
- 6. A NEW UNIT OF ANALYSIS: ‘THE INNOVATION’
- 7. A consumer trend is a new manifestation among people – in behavior, attitude, or expectation – of a fundamental human need, want or desire.
- 8. Trends emerge as innovators address people’s basic human needs and wants in novel ways.
- 9. CHANGE
- 10. BASIC NEEDS
- 11. INNOVATIONS
- 13. BASIC NEEDS DRIVERS OF CHANGE INNOVATIONS THE SWEET SPOT NOVELTIESMORE OF THE SAME EXPECTATION GAPS
- 14. Tracking trends helps you meet and surpass consumers’ rapidly changing expectations.
- 17. FMCG
- 18. LIFESTYLE
- 19. INSIDER TRADING One powerful way to show customers that your brand’s values align with theirs? Go public with your internal culture. But first, make sure you’re proud of it!
- 21. WELFARE IN THE GIG ECONOMY
- 22. PURPOSE > PROFIT
- 25. WHO ARE YOU REALLY COMPETING AGAINST?
- 28. BLACKPHONE
- 29. FAIRPHONE
- 30. PROJECT ARA
- 32. WATERPROOF!
- 33. 360 CAMERA!
- 35. “Our task is to read things that are not yet on the page”
- 37. OVER TO YOU! Questions? Comments? Challenges?
Notes de l'éditeur
- Okay so we’re really excited to welcome a number of you, our COUNTRY readers & clients, to this virtual launch of our new book: Trend-Driven Innovation! As most of you know, we’ve been writing about trends for over 10 years now, and have built our business around sharing the latest & most opportunity-rich consumer trends with you. But you – our clients, spotters, and audience - constantly challenge us as we do all this. Where did that trend come from? Will it last? Where’s it headed? What does it mean? Does it really matter? What can I do with it? So now we’ve pulled together everything we do, both internally & with clients, and released our complete, end-to-end trend methodology. In short, this book will enable you to successfully and repeatedly spot, track, prioritize, act on, deploy, and get ahead of trends? And in this short event – we’re going to share the book’s (& our entire business’) BIG IDEA – namely that the counter-intuitive secret to customer-centricity is to watch businesses, not consumers! Then, after we’ve done that, we’ll turn it over to you to ask any burning trend questions you might have! We’ve got someone monitoring the comment stream, so do feel free to ask any questions as they come to you, and we’ll address them at the end. But, let’s dive straight in…!
- Before we begin, I just want to quickly introduce ourselves. On the call here today, you’ve got X & Y. We’re a global team, and because Max is based over in New York, he’s asleep, and Delia is currently in the final stages of her pregnancy over in Austria, and couldn’t join us today. Indeed, a couple of fun facts: Max’s daughter Elodie was born just a few weeks after delivered the manuscript, and now Delia will be (hopefully) giving birth just a few weeks after we launch the book! And we hope the triggers many more new beginnings its readers too! Anyway, let’s get going!
- We’re sure that for many of you, business today can feel a bit like this. A constant avalanche of new products, services and campaigns – from competitors and non-competitors alike – flood into the market. Meanwhile, customer expectations cycle ever higher. It's overwhelming. How can any brand be expected to keep up?
- But in the end, business success can be boiled down to a simple formula: anticipate what your customers will want next, and give it to them. Every CEO, startup founder, innovator and marketer is (or should be!) obsessed by the question of where customers are headed. But it’s a hard question to answer. And more importantly, the received wisdom on how to answer this question is limited at best, wrong at worst! One traditional approach? Ask customers what they want, via surveys, questionnaires, panels and more. But what people say they want and what they really want are often light-years apart. Okay, forget asking people – what about watching them? Sure, this kind of ethnographic fieldwork can yield deep insights, but it's hard, slow and expensive. But wait, problem solved! We have Big Data... But while data is often great when it comes to optimizing what you're already doing, taken alone it rarely generates the radical insights that can underpin something truly new. So what's the answer?
- Writing the book, tearing apart what we do & why it works, we realised that our methodology was based on a powerful, counter-intuitive truth. And if there's a secret at the heart of Trend-Driven Innovation, it's this: You can know what your customers are going to want next. Not by asking them, watching them, or crunching their data. But by looking at the innovations that they're lavishing attention on now. Yes, that's right. The key to actionable foresight lies in looking at the overwhelming onslaught on innovation – new brands, products, services, campaigns, experiences and more – that now whiz past our eyes and across our screens every day. But how can that be true? Why does watching, and interrogating, innovations lead to actionable foresight on what your customers will want next? The answer lies in the expectations those innovations are creating. And to understand why that's so important, it pays to take a closer look at one fundamental question: what is a consumer trend, anyway?
- Here’s our definition of a consumer trend…
- But more importantly than what a trend is, is how they emerge. We believe that trends emerge as innovators address people’s basic human needs and wants in novel ways. There’s a lot going on already in all that, so I want us to take a step back for a moment, and I’m going to run you through our model for how trends come into being.
- Our Model Says: on the one hand there is CONSTANT CHANGE. Technological change, social change, attitudinal change. The world is changing all the time. We all know that.
- BUT On the other hand there is human nature, whicn fundamentally does not change much over time. Human beings are driven by this set of BASIC NEEDS & WANTS – think safety, fun, value, connection– they don’t change from month to month, or season to season.
- The third strand of this model is INNOVATIONS. They play a central role in our methodology. We can see trends emerge via the new innovations that address these BASIC NEEDS in novel ways.
- The three fundamental elements – basic needs, external change and innovations – will help you understand trends. But sensing where and how these come together to form new levels of customer expectation will help you act on trends. That’s because identifying what the people embracing the brands, products and services that embody the trend now want and even expect is the best way to spot the potential opportunities within a trend.
- For those of you who like your thinking diagrammatically, after much discussion this is how we capture this in the book. You can see the three strands of our methodology. Super-quickly, it should be clear that if you’re just innovating around basic needs without considering how the world is changing, you’re just going to create more of what already is. If all you’re thinking about is how the world is changing, and you forget basic human needs and wants, you’ll get fads and novelties. You’re aiming for the sweet spot, where change meets basic needs and creates new expectations that YOU can serve!
- That’s a scary thought, Or it should be! But that’s why we’re here, that’s why we come to days like this. Because in the end trends are all about identifying and then surpassing consumer expectations. That’s what today is ultimately all about!
- When an innovation serves a basic need in a new way, it sets new customer expectations. That is, it primes customers to expect something new. And then the really important part happens: expectation transfer. Once created by a game-changing innovation, new expectations spread across markets, industries, product and service categories, and demographics. And thanks to the global brain, they spread faster than ever. Eventually, they'll spread all the way to your door! That's why any customer today riding in a car expects the entertainment system to be as intuitive as an iPhone. It's why customers primed by streaming content (Napster became iTunes became Spotify) now expect instant access to a whole range of physical goods, from cars to clothes. And, most importantly, it's why watching innovations – and interrogating them for the new customer expectations they set – is the (not so secret) secret to actionable foresight.
- So this is the Darty button, this is all about one touch customer service at home (give a few details of how it works). Customer service at the touch of a button? Unveiled in France during June 2014, the Darty button is a small device enabling customers of the French electronics retailer to request assistance. Priced at EUR 25 (plus a EUR 2 monthly subscription fee), the wifi and Bluetooth-integrated button can be placed anywhere in the home and when pushed, automatically facilitates a call-back from Darty. The device can also connect to many domestic appliances – from fridges and dishwashers to TVs and audio equipment – meaning that any problems can be located and solved quickly. Link: http://www.darty.com/nav/achat/hifi_video/assistance_connectee_darty/assistance_connectee_darty/darty_bouton_darty.html
- You’ve all seen the Amazon Dash buttons. One touch retail, get your diapers, detergent, whatever. Products at the touch of a button? Launched in March 2015, the Amazon Dash Button lets consumers re-order household products such as washing powder, toothpaste, or razor blades with a single click and without the need to use a smartphone or laptop. The branded buttons are set up using the Amazon smartphone app, can be affixed to various surfaces, connecting via wifi. Once clicked, the buttons send a repeat order to Amazon for the specified product. Dash Buttons are available free on an invitation-only basis to US-based Amazon Prime subscribers.
- Lifestyle services at the touch of a button? Ojek are unlicensed motorcycle taxis that are a popular mode of public transport in Indonesia. October 2015 saw cellphone-based on-demand ojek service Go-Jek add new in-app services. Go-Glam offers on-demand access to beauticians, Go-Box offers house and office moving services, while Go-Clean offers home and office cleaning. Go-Jek transformed the informal marketplace for ojek when it launched in January 2015; the service operates in Jakarta with over 2,500 drivers. Link: http://www.go-jek.com/
- In January 2015, during a keynote at the Consumer Electronics Show, Intel CEO Brian Krzanich announced plans to increase the diversity of the company’s workforce. Citing lack of diversity in the tech industry, Krzanich pledged the Intel workforce would reach full representation of women and minorities by 2020. President Renée James (Intel’s highest-ranking female employee) was appointed head of the ‘Diversity in Technology’ initiative in February 2015. Link: http://newsroom.intel.com/community/intel_newsroom/blog/2015/01/06/intel-ceo-outlines-future-of-computing
- January 2015 saw GrabTaxi Singapore announce a SGD 3.5 million (USD 2.8 million) welfare fund, providing drivers with medical support and accident coverage. Drivers working with the mobile taxi booking app are entitled to up to SGD 300 (USD 240) each month in benefits. Link: http://grabtaxi.com/singapore/
- In October 2015, REI announced that all of its 143 stores would be closed on Black Friday, to allow staff and shoppers to spend the day outside. The US-based outdoor apparel retailer’s 1,200 employees were paid for the day and, along with shoppers, were invited to share their activities using the hashtag #OptOutside. A co-op with over 5.5 million members, REI’s profits topped USD 2 billion in 2014. During the period, Black Friday was one of the retailer’s highest-grossing sales days. Link: http://optoutside.rei.com/
- Amid rising rents in the UK, September 2015 saw Starbucks unveil Home Sweet Loan, a program giving its UK employees access to an interest-free loan to help them pay a deposit for rented accommodation. Any barista who has been with Starbucks for at least one year can borrow the equivalent of one month’s wages, to be paid off over a 12-month period. The scheme was developed with UK housing charity Shelter. Link: https://news.starbucks.com/news/starbucks-uk-to-tackle-cost-of-living-for-partners
- In January 2016, Starbucks unveiled plans to subsidize housing for its workers in China, where it is common practice for companies to provide their staff with dormitory accommodation. Subsidized housing is available to full-time staff members only, with employees choosing their own accommodation and then using the grant towards rent payments. At the launch, Starbucks also announced a sabbatical program for employees with over ten years experience with the company Link: https://news.starbucks.com/news/starbucks-strengthens-commitment-in-china-2016
- That’s expectation transfer in action. And it should lead you to the question: who are you really competing against? Others in your industry? NO! Your competition is the best in class, whoever that may be. Think Apple for design, Patagonia for ethics, whoever your favourites are. Is a person stepping into a BMW comparing the music system to that of a Mercedes? No, they’re just saying ‘why isn’t this as usable as my iPhone’. Expectation transfer crosses INDUSTRIES, BORDERS and PRICE POINTS.
- [HANDOVER SLIDE] So, if we’re focused on innovations, then your next question will rightly be…
- ‘Fine, you’re showing me all these innovations, but won’t most of them fail? How do I know which will really succeed?’ The thing is, when we’re looking at expectations, success or failure is not the point. To make that clear, I want to super-quickly show you three phones.
- The Blackphone 2 is a cellphone designed to protect consumers’ privacy, meaning that all calls, SMS and data are completely secure. The smartphone includes Silent Circle’s encrypted mobile, video and voice services, which facilitate total privacy and minimize any leakage of personal data. The Blackphone functions with a SIM card from any mobile carrier. The Android cellphone is designed and manufactured in Spain. https://www.blackphone.ch/
- This is the Fairphone 2. It’s all about ethics. It’s made from conflict free minerals. The workers are paid fairly. All the ethical things that the smartphone in your pocket doesn’t do, this one does. And I want to show you one more phone, just this out (click next slide for video). ENDS. With pre-orders from more than 5,000 customers, in June 2013, production was confirmed for the Fairphone: a ‘fairly’ sourced, priced and manufactured smartphone from the Netherlands. The handset is manufactured without using conflict minerals, with a focus on worker welfare, and a percentage of sales from the Fairphone supports e-waste programs. The device is priced at EUR 320. http://www.fairphone.com/
- Motorola’s Project Ara is its opensource, modular phone effort. In early 2015, Google (which acquired the Project Ara team) announced the modular Spiral 2 phone would be piloted in Puerto Rico.
- Project Ara, the Blackphone and the Fairphone: all three are, in their own way, exciting and deeply worthwhile innovations. Will any of them they replace the iPhone and Samsung Galaxy as the world's best-selling smartphones in 2016? Almost certainly not. Indeed, these projects might even crash and burn in the coming 12 months. But when it comes to trends, that really isn't the point. What matters are the expectations these phones create. And remember, customers don't have to purchase or even use these phones to have their expectations reconfigured. They just have to hear about them to start asking why isn't my phone modular? Why can't my phone encrypt my data? Why can't my phone be manufactured ethically!? In fact, you may well be asking yourself those questions about your phone right now! And the big smartphone manufacturers know that these expectations are heading their way... In February 2015, Apple made significant changes to its iPhone supply chain, banning certain working practices and tightening their sustainability audits of suppliers. Meanwhile, the launch of iOS 9 in November 2015 saw Apple strengthen the encryption of phone data, which as we all know they are now currently fighting with the FBI over. And in December 2015, Samsung patented a design for a modular smartphone camera.
- And the expectations keep spiraling upwards & in new directions: December 2015 saw Kyocera unveil a new smartphone called the Digno Rafre in Japan. The device is designed to be washed with foaming soap and was created to meet the needs of people who want to keep their phones clean and reduce the amount of bacteria they carry. Reportedly the first smartphone with resistance to hand soap foam, the Digno Rafre is also hot water resistant and can be used when bathing. The cellphone retails at approximately USD 460. (And then just last week at the Mobile World Congress, Samsung unveiled its S7, which also has waterproofing capabilities!)
- And further! Unveiled at CES in January 2016, the Yezz Sfera is an Android cellphone with two 360-degree fish-eye cameras; one on the front and one on the back. Users aren’t required to ‘pan’ the device to capture full scenes, as the two cameras work in tandem to capture all the surrounds and then stitch both images together to create immersive 360-degree images and videos. Captured scenes can be viewed on the cellphone’s screen or using Google Cardboard. Developed by Miami-based technology company Yezz, the Sefra costs USD 300.
- So there we have it! We started out struggling to handle the overwhelming nature of today’s business landscape. The pace of change. Hyper-competition. Accelerating customer expectations. But now we’ve laid out how those very forces can also turned on their head, and used to your advantage. Indeed that there’s a secret to knowing what your customers are going to want next. Not by asking them, watching them, or crunching their data. But by looking at the innovations that they're lavishing attention on now.
- Let’s hear from Steve Jobs (yes, when you’re talking about innovation, you need an obligatory Steve Jobs quote!). He famously said: “Our job is to figure out what they’re going to want before they do…People don’t know what they want until you show it to them. That’s why I never rely on market research. Our task is to read things that are not yet on the page.” > Looking at disruptive, expectation-setting innovations helps you to read what’s not yet on the pages for your customers. Look at what other business are showing people. Read what’s on those pages. And then write your own.
- So, what’s in the rest of the pages that are in the book?! Well, if that’s our big idea, then the rest of the book is all about how to do it! It explores Why – because of customers’ accelerating expectations - trends are more important than ever. How to spot trends and how to build a Trend Framework that will help you process the innovations you’re spotting (and shares ours) It shows how we spotted a number of our most popular trends Then in FOCUS: it shows how to choose the trends to run with (& why they might not be the ones you naturally think of) GENERATE walks you through our simple & easy-to-follow approach to turning trend insights into tangible & compelling innovation ideas EXECUTE explores 6 trend-driven approaches to getting innovations into customers’ hands CULTURE dives deep into how companies can built an ongoing culture of trend-driven innovation. In total, the book features over 40 trends & 100 case studies, and contains everything you need to create things people love, and ultimate drive the next big trend yourself!