Wednesday, August 26, 2009

10 Predictions for 2010

10 Predictions for 2010 As we start planning for the next 3 years and move into budget season, it's good to start thinking about the forces that will shape business and marketing in the coming year. Here are 10 thoughts of what 2010 could look like and how this should affect our plans:

1. Global re-bound. 2010 will be the year of the rebound in Asia Pacific. In fact it has already started in most countries. Many individuals and companies will reset, look at the world's challenges and opportunities with a fresh set of eyes, and be even more inventive or creative that we've ever been before. We'll use the pent up energy stored from the recession to springboard us to new heights. As a result, 2010 should be a year to be aggressive and expect greater returns.

2. Asia Pacific really comes of age. This Region will finally emerge as the world's lasting driver of growth because the world needs Asia Pacific more than ever before to move it forward. 2010 will be seen as a globally recognized tipping point for power in favor of this region. This will give Asia Pacific even more – if not the leading - profile in many global companies.

3. The role of leaders and followers will start to be redefined. The age of the powerful leaders will continue give way to the leader who is able to unlock the talent of its followers. In turn, books, courses and seminars about "Followership" will gain in importance. As a result, new managers will emerge and older management styles will change. 4. Disruption will be the norm. With an abundance of choice, products and services need to be even more extraordinary to stand out and succeed. More attention and reward will be given to those who can find greatness within or outside market norms. The need to be more inventive will make creative destruction the norm rather than the exception. Consequently, effective change agents will be in increasing demand.

5. Brands will grow up. People will expect brands to do more than simply satisfy their basic needs. Brands will need to appeal higher up Maslov's Hierarchy of Needs. As a result, brands will take on different roles in society supporting an increasing range and depth of CSR programs. 6. Unique consumer insights will become a brand's greatest competitive advantage. A brand's ability to anticipate people's needs, tap into an un-mined tribe and find "future data now" will be the fuel that drives disruptive ideas and change. The will require a brand to invest more in data analytics and Search.

7. Integration will be the rage. While specialization will remain important, real value will be created by those who can pull all the pieces together and reduce the duplications of resources. This has been the dream of the global communication networks; but the reality, has often been very different. The need to collaborate and operate more quickly, effectively and fewer resources will give rise to the "Integration guru" and truly integrated offerings that consist of specialists.

8. Metrics will rise – marketing decisions will increasingly need to be backed by data to reduce waste and downside risk. The maxim will be that "Whatever gets measured will get done" to "Whatever does not have measures will not get a budget". Consequently metrics and analytics should see resurgence. 9. Grass roots marketing will accelerate. More attention will be given to influencer marketing to get fans, and word of mouth marketing, working harder for brands. 10. Older target segments will matter more. There will be rise in marketing towards the Silver generation because they have more disposable income, are not as fickle and have largely been ignored by brands – which, ironically, will consider them as new target groups.

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