After Mintel’s top trends posted earlier today, US-based branding agency CoreBrand has created a trends list of its own from chief executive Jim Gregory. Here are CoreBrand’s top eight trends from the American side of the pond:
1. Energy Independence
Energy independence will emerge as the number one issue in the 2008 Presidential campaign. With national efforts required to find innovative solutions to energy needs, the federal government will create incentives for solution while mobilising to get US energy consumption under control.
2. Crisis with Unions
America can no longer compete effectively in the world due to the intransigence of unions and management greed. These issues will come to a boiling point in 2007.
3. Ethics/Trust/Value Issues will Fade
The Sarbanes-Oxley (SOX) culture is suffocating management and mediocrity reigns. The requirement for SOX standards will fade as the need to become more competitive grows. New gross violations will not become apparent for years until a new major crisis refocuses the spotlight on the importance of ethics/trust/values.
4. Ford Motor Company
A corporation once synonymous with US industrial prowess and innovation is broken up and sold for scrap. The various divisions are sold off as Toyota declines to buy the company for pennies on the dollar.
5. Third generation of CMOs
Chief Marketing Officers are more sophisticated and are making significant improvements to the competitiveness of companies. Finally, CMOs are being considered in line for CEO.
6. Corporate Social Responsibility
CSR is becoming mainstream for many organizations. A clear strategy to engage in CSR activities is being implemented in leading corporations where integration of CSR within business functions are central to the dialogue. There’s a movement to link CSR messaging in engaging stakeholders, and impact every touch-point including brand reputation, organisational objectives in making it a core competency. The trend is developing good corporate citizenship and a new position, Chief Responsibility Officer (CRO) has become integral to Fortune 500 org charts.
7. Customer Experience Management (CEM)
Back to basics — Getting closer to the customer (one-to-one), listening to your customer, understanding your customer, having a CEM program with a personal touch is becoming key to every organization’s market success. It’s not just outsourcing (i.e. India call center model), and IP technology, which has deficiencies. Smart CEM will grab new customers and improve revenues.
The trend will move from customer satisfaction to customer loyalty; a change in organisational thinking across touch-points is needed. It’s all about helping customers make the most of their purchase and to increase the time consumers invest in the brand relationship. Quantifiable measurements to increase profitability are key to the process.
8. The US is facing a major crisis of confidence
• Loss of stature in the world
• Loss of major industries
• Loss of competitiveness
• Loss of innovation
Loss of new products – IP knockoffs have taken a major toll on the US being perceived as ‘Innovative’
So do these trends stand a chance of coming true? Or are these only affecting the US? Will international companies feel the same pressures? Let us know what you think.
