Whether or not you have made New Year’s resolutions and mapped your personal and business strategy for the coming year, you would be well served to look carefully at trends emerging in the 2013 marketplace.
Among the best expert resources, is Rohit Bhargava’s excellent new book, 15 Marketing Trends In 2013 And How Your Business Can Use Them.
This information-packed book is a quick read that presents the trends for 2013 in a well-written, concise manner. But unlike other trend sources that the author proposes have “no detail, no proof and no application,” Bhargava’s book covers all the bases.
As professor of global marketing at Georgetown University and the author of two previous best-selling business books, Bhargava combines careful research with practical application. His easy-to-read style makes his resource-packed book a pleasure to read rather than a business chore. He carefully focuses not only on recognizing trends but practical applications on how to profit from them.
Using a simple framework, the book identifies and details each of the top 15 trends for 2013. Starting with a definition of the trend, the author then asks “who should care?” This is followed with examples (with links) of companies that have utilized the trend to their benefit. The author then provides a brief list of ideas to use the trend. Finally, research references are given.
Take for example Trend No. 1, “Shoptimization.” This trend suggests that technology will help optimize shopping for everything from fashion to medicine. Under the “Who Should Care?” section, the author says anyone who sells a physical product will be impacted by this trend in 2013.
The examples include medical prescriptions. As more people around the globe are using prescription medications for a variety of ailments, costs are climbing. Technology will allow purchasers to optimize their shopping and save money.
Shoptimization is being utilized in stores, as well. An example is Macy’s In-Store GPS system. This application allows the customer to locate particular merchandise within the store.
Under “Ideas to Use this Trend,” the author suggests that almost every business, no matter what type, should have a loyalty program. Other ideas include removing all barriers in the shopping process and using a landing page to direct customers with online purchases.
Another prominent trend for 2013 will be “Human Banking.” This trend will change years of growing mistrust as banks uncover their human side through simplifying offerings and changing the tone of their communications. Look for banks to adopt practices, including lowered fees and 24/7 customer service in an attempt to rebuild trust and correct poor customer service.
Banks as well as other businesses can use this trend by finding the “inhumanity” in how they communicate. This includes language that gives the perception that your brand is not as human as it could be. “Lose the legalese” to make everyday communication clearer.
Trend No. 5 in 2013 is “Powered by Women.”
“Business leaders, pop culture and ground-breaking new research intersect to prove that our ideal future will be led by women,” the author predicts. The coming year will show how women and the way they think will influence business. For men, the ones who realize this and shift from old ways of thinking will profit from this trend.
“We can finally put the old debate to rest,” the author says. “Men and women are not equal: Women are better.”
While this trend will affect everyone, it will have a particular impact on leadership and management. Organizations can benefit by embracing social-media best practices such as empathy, authenticity and collaboration.
Also trending in the coming year is hyper-local commerce. The continuing trend to shop local will be forwarded by personalized technology. This should be of interest not only to local retailers but also for investors. There is a growing currency and value to being a local business.
Included in the book are several digital bonuses available at the author’s website. Of particular interest are the 2011 and 2012 trends and how they fared. (They proved surprisingly accurate.)
While trend reports sometimes tend to be as dry and as serious as end-of-the-world predictions, Bhargava’s straightforward style, combined with his edge of humor, make for an entertaining and enlightening look at 2013. His examples and details show he’s done his homework. His book is an excellent starting point for us to do our own planning for the New Year.