4 trends you need to know – WAU
When it comes to marketing innovation, people immediately think of revolutionary apps or new social media that will capture customers by the thousands. In fact, before developing a new product or service that makes the most of digital marketing innovation, it is necessary to understand market trends, which is changing […]
When it comes to marketing innovation, people immediately think of revolutionary apps or new social media that will capture customers by the thousands.
In fact, before developing a new product or service that makes the most of digital marketing innovationl it is necessary to understand market trends, what is changing in the world and how to take advantage of this new way for people to relate, consume and seek to meet their wants and needs.
Often, a new design or the creation of a logo can already configure an innovation in your brand that will attract new consumers.
That is why it is very important to be aware of this digital myopia, in which people focus their efforts on digital marketing and information technology solutions without first analyzing whether it really meets a consumer need or desire.
It’s that crazy desire to create a Facebook or Uber-style startup to get rich and famous quickly.
The fact is that these two examples only worked because their creators knew how to turn market trends into reality.
A very common example is the constant analysis that is made of the much talked about generation X and the changes it has caused in the way of doing business, especially with regard to the internet and social networks.
And you may have heard of generation Y, but have you heard of generations W, Z and Alpha?
Of course, these concepts come and go, are exchanged and changed with the speed of the world we live in, but if you really seek innovation in content marketing (or other forms of marketing), you need to know the trends that are out there, how they will influence your relationship with the consumer and how to generate relevant content for them.
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Marketing Innovation: 4 trends you need to know
1- Generations X, Y, W, Z and Alpha
Generation X are the children of the Baby-Boomers, the result of the population explosion with the return of soldiers from World War II. These Baby-Boomers born between 1945 and the mid-1960s were more conservative and objective, less consumerist.
Now, let’s go to the other generations:
Generation X: Born between 1960 and 80, they “rebelled” with their right parents. They sought freedom and civil rights.
Y generation: Born from 80 to 2000, the so-called Millennials are constantly connected, in a hurry to get what they want, being very competitive. But, on the other hand, they consider that we must work to live and not live to work.
Generation W: A variant of Y, born in the same period, are more emotional and less competitive people, equally connected, but knowing how to move through all circles of knowledge, avoiding isolation in the virtual world, while admiring it.
Generation Z: The generation from 1990 to 2010, which has already found the virtual world ready to be fully enjoyed! That is why they look at it much more naturally and many consider them the true “digital natives”, that is: people who did not have to adapt to a world connected 24 hours a day.
Alpha Generation: Born after 2010 and totally immersed in the digital environment, without prejudice or some fears still faced by some of the previous generations. It is believed that they will develop much more independently. They have the characteristic of being much more observant and are exposed to much more positive and educational stimuli than before.
Based on these profiles it is possible to think about marketing innovations. What product or service could you develop for children of Generation Z, for example?
A company in India decided to turn them into geniuses and created a service that promises to “promote super sensory development in children”. Check it out: Genius Kid.
2- Freemium Products
Do you know what Freemium is? It is a marketing innovation that consists of offer high quality products or services for free for a short period of time or being able to give access to them to people they normally wouldn’t have.
An example is using the LinkedIn Premium service for a month and then, if you like, subscribe to the service. Skype is another one that uses a similar tactic: to use Skype as a phone, calling other numbers, you have to pay. Even representing only 12% of its users, these values are sufficient for others to use Skype for free to chat with other computers, without using phone numbers.
This pun unifies the old concept of the discount coupon with a cool, fun, cool action (cool in English).
An example of this marketing innovation was a Ford action called “Ford Pride”, in which the owners of this vehicle could exchange the brand logo, the metallic emblem that is fixed on the car, for a new one, in better condition, if they wanted .
Companies that notify offers in real time to your cell phone when you pass near the point of sale with special price is also an example of the Coolpon trend.
4- Virtual retailer reactivating the real point of sale
This marketing innovation shows that real retail, with physical stores, will not die, but will be enhanced by virtual retail. Some stores already use devices that alert customers, within stores, about products they recently searched on the internet.
They do this by checking their data on their cell phones and, in some cases, even show videos and virtual storefronts indicating the offer before you even ask an attendant. One of the electronic devices that allows this is called ESC – Electronic Shelf Labels (simplest) and NFC – Near Field Communication.
As you have seen, marketing innovation starts with analyzing a trend and can become a cool action for your company if it makes sense.
Innovating by innovating, without strategy or objective, does not lead to anything.
* This post was written by the team at We Do Logos, the largest creative platform in Latin America.