The power of looking ahead (page 1 of 2)

And knowing what tomorrow's consumers will be spending their money on is like gold dust. With the right foresight, you can get in first.

For decades, researchers have been working with marketing clients to better understand where markets are heading. The early adoption model is a tried and tested method of tapping into those consumers who will jump on the bandwagon first - those who will take up a new product the quickest, and ideally, influence others to gradually do the same. Unfortunately, this model relies on insight from the very consumers who, by their nature, can also be early abandoners - they like a new trend, they buy into it for a while, and then they drop it. This is a headache for brand managers and marketers - and it has taken a while to find an alternative method that has a more permanent worth.

Looking forward to the Future Shaper

A different approach is needed to deliver more forward-looking insight - a new model which, for the first time, identifies those who will shape the long-term future of a brand or market: the Future Shaper. Like early adopters, Future Shapers are the first to buy into a new product or trend - and if it's up to scratch they are also loyal, focused on advocating products and brands to the mass marketplace. Future Shapers - as defined by TNS' new FutureView™ - are 'new consumers' whose attitudes and behaviour put them at the forefront of some of the biggest macro-trends influencing global consumer behaviour. This deeper definition of future influence ensures that Future Shapers have an impact on markets in an ongoing, rather than merely transitory way.

The chart below identifies how powerfully Future Shapers can influence potential brand growth (or decline) and that there is a clear correlation between Future Shaper commitment and the overall growth of the brand.



Source: combined results from FutureView studies in 8 different packaged goods markets in Australia and New Zealand

TNS research has found that Future Shapers are 51 per cent more likely than Early Adopters to adopt a new product long term and recommend it to others.

The new consumer of today

Today's 'new consumers' are savvier and more demanding than ever before. The rise in interactive and personal media, fuelled by blogging and social networking sites, is giving consumers the power to push back. They want brand owners to know exactly what they think of their product - and more than ever before, they have the power to shape a product or brand's future success. The need to engage the new consumers that are also a brand's Future Shapers, and ensure they are saying the right things about a product, is critical.

Future Shapers are defined by seven key characteristics of new consumerism:
- They value authenticity and originality in all that they buy and experience
- They are well informed and hugely involved in the products, services and brands they buy
- They are individualistic - doing things 'my way' and increasingly demanding companies do too
- They are time poor and value anything that saves them time
- They are socially responsible - and exercise their ethical awareness via their product and brand choices
- They are curious - open minded and receptive to new ideas
- They are advocates of new ideas - and they spread the word!

Brand ambassadors

In Australia, we have identified a number of other key characteristics of the new consumer and Future Shapers in particular.