An Introduction to Trendbusting from Mark Thomson (@markbthomson1)
Wired Magazine have written an excellent article around big market trends in 2016 (http://www.wired.co.uk/magazine/archive/2015/11/features/wired-world-2016-russell-davies) yet do we assume that these trends are the hotbed for all innovation plays?
There are many great products and services which take advantage of assumption based trends within the market. Take the trend around big data. T-Mobile collects massive amounts of data from its smartphone and tablet subscribers and it’s using this data to prevent customer turnover. In fact, the brand has managed to reduce “churn” by 50% just by staying on top of things like usage patterns, geographical usage trends, customer purchases by location and most importantly, Customer Lifetime Value.
Is it all about big data through? Innovation plays can emerge from breaking this assumption and looking at the adverse trend, in this case, small data. Diageo have launched Johnnie Walker Blue Label. The label sensors mean Diageo can send information to customers who scan the bottle with their smartphones – and change that information, thanks to the sensors being “always connected”. By generating ideas around the adverse assumption, we can start to re-think where our opportunities lie.
The world of tech is also evolving rapidly around the lives of consumers, often from the palm of their hand. We can now see almost anything from our smartphones. This will change in 2016 as Invisible Interface technology still provides us with information and gives us command of our surroundings, but through discreet signals rather than screens. In 2015, British Gas launched new motion sensor products under Hive (which was born throughwww.marketgravity.com). Hive Motion Sensors and Hive Window and Door Sensors. They will let you be notified of any motion in your home remotely, and the latter will notify you if a door or window has been left open.
Let’s break the assumption that consumers want experiences which are less authentic. As technology surrounding consumers becomes more experiential as well as intuitive, it strips away the physical connection we have with products and services. Crosley have taken advantage of the rejuvenation in Vinyl sales through developing products which are authentic, amid the established trend of downloading music online. By breaking what we assume around the trend, we can realise new opportunities.
Breaking assumptions can be insightful, commercially rewarding as well as good fun. It’s just one of the approaches we use at Market Gravity to unlock ideas which can then develop into full blown prototypes. If you want us to get in touch and take you through more detail of our breaking assumptions work, please get in touch. It would also be great to hear your experiences on the topic of this post.
Next up for Scotland will be England in the Six Nations. I would like to assume it will be a home win, although I am sure many of you will take pleasure in breaking that one!