Author: Suresh Dinakaran
Demographics is dead. Long live demographics!!
Historically, brands and marketers have sworn its allegiance to demographics. Like the proverbial Tweddle Dee and Tweddle Dum. But there just might be a twist in the tale. As quoted by Trend Watching: “You’re not the only one who’s confused by consumer behavior. Consumers themselves aren’t behaving as they should “.
In a post demographic era of consumerism, is it time to throw out the traditional (and tried, tired, trusted and rusted) demographic models of consumer behavior?
Let’s look at some really interesting snippets that break all molds of convention:
In the US, women now account for 41% of the universe of video game players-STATISTA
Asilo Padre Cacique, a retirement home in Porto Alegre, Brazil, hosted an activity day for its elderly residents a few years ago, featuring a skateboard exhibition and graffiti artists. Yes, you read right: skateboard exhibition and graffiti artists.
“If you look at the list of the 1,000 favorite artists for 60-year-olds and the 1,000 favorite artists for 13-year-olds, there is a 40% overlap.”-GEORGE ERGATOUDIS (HEAD OF MUSIC, BBC RADIO 1)
All the above may seem disconnected but it does give us a peep into where consumerism is headed. And it is not at the happy intersection of demographic centered models which brands have comfortably honed over the past several decades. This is a new path to tread. Consumption patterns are no longer defined by ‘traditional’ demographic segments such as age, gender, location, income, family status and more. In this era of post demographic consumerism, brands are realizing that people across all age groups, across multiple markets are constructing their own identities and that too more freely than ever before.
Yes, we still do have our usual suspects: the early adopters of products and services that brands love: Young, affluent, influential, loves experimenting and burdened with lesser commitments. This (as is empirically proven) the ideal scenario.
But as more and more brands and marketers wake up to the new reality: that any and all revolutionary – or simply just compelling – innovations will be rapidly adopted by, and/or almost instantly reshape the expectations of, any and all demographics. Without bias or prejudice. One size need not fit all or it just could!!
The always on Society is now too fluid, ideas now too easily available, the market now too efficient, the risk and cost of trying new things now too low (led by the digital world, but increasingly the case for physical products too) for this not to be the case. Let us understand why.
Today’s consumers – of all demographics and in all markets – increasingly buy, source and use products and services from the same mega-brands: Apple, Facebook, Amazon (the technology sector is especially universal), IKEA, McDonald’s, Uniqlo, Nike and more.
The ubiquity and collective familiarity with these global mega-brands, when combined with the global reach of consumer information, has also created if not a shared consciousness then certainly a new level of POST-DEMOGRAPHIC shared experience for consumers, from 16 to 60 and beyond and from Boston to Beijing, Capetown to Melbourne, Mumbai to Miami.
So what should executives and brand marketers look at doing to come to speed with this new reality. Well, there are a few innovation opportunities waiting to be grasped:
-Fall in love with the new normal (which is not normal): Embrace and celebrate new racial, social, cultural and sexual norms.
-Let heritage not be a baggage: Be prepared to re-examine and even overturn your brand heritage.
-Inorganic demographic pollination: Go beyond your comfort demographic zones. Explore foreign demographics hitherto not tapped into for ideas and inspiration.
-Borrow from the Long Tail effect: Explore smaller niches of interest. There is serious potential resident there.
As we move into the future, successful products, services and brands will transcend and move beyond their initial demographics almost instantaneously. Brand executives who continue to attempt to navigate using demographic maps, with borders defined by age, gender, location, income will be under-prepared for the speed, magnitude, and direction of change.
There is no doubt that understanding consumers’ needs and wants remains critical (Consumer Insight & Market Research companies will go out of business otherwise, isn’t it?). However, it will be those that take a broad view and learn from innovations that are delighting consumers in seemingly dissimilar or even opposing demographics that will succeed, regardless of which ‘traditional’ demographic(s) they serve.
CAVEAT EMPTOR: There is a Great Demographic Reversal: Through Ageing Societies, Waning Inequality, and an Inflation Revival, post the pandemic.
Demographics(as we knew it) is dead. Long live demographics!!
The Creative Apocalypse: Preparing your Client
The Creative Apocalypse: Preparing your Client!
There is great, there is good and there is average (ok).
Superlative. Comparative. Relative. Most of us want (at least there is good enough intent!) to do good work and over a period of time how that transmits to average and below remains an unsolved mystery. Have we ever started out saying; ” Let’s do some Great Work “? No one came into the profession thinking ‘I really want to produce work that’s a bit meh, a bit vanilla, that makes no impact on the world and sinks without a trace.’ So how come we don’t see brave creative work that often? The occasional breakthrough shines like a lighthouse across a lacklustre sea of work that is often undeniably boring, weirdly familiar or just more than a little disappointing.
So how is the end game playing out? It’s a whole new world out there. Recession or no recession- there is a perennial pressure on budgets and jobs. The ‘always on’ shifting media landscape and the move from broadcasting messages to managing conversations. The balancing of brand, ROI and an increasing reliance on data and metrics. There is safety in numbers (metrics reloaded!). Data is the new oil. And that too is now old hat. And how! All of these things have stitched together a sinister conspiracy in the last 10 years or so and made it more difficult for creatively brave work to ever see the light today(with some exceptions of course). It takes real balls for a client, or an agency, to take a leap of faith in this climate. Till then, it’s a lip of fate! And sealed at that. ‘ Faith accompli ‘ anyone?
Where does the skull drudgery end? What can be done? Selling creatively brave ideas requires an ability to promote the safety of risky situations (don’t miss the contradiction here), psychological management skills and a client that can hold their nerve (while letting go of her purse strings!). Sometimes you have to help hold it for them.
This situation provides both agency and the client an absolutely perfect platform to do creative tango. So here is the brief(in vest in it!): Depart from norm(it’s the mandatory new normal, so no big deal), break free from convention whilst remaining true to creating lasting campaign impact and brand recall. Surprise, delight, coerce, intimidate, purposefully provoke, question and come back to do more of the same. The brain remembers only what it least expects. So, deliver the unexpected. Don’t just hand hold the client, hold her heart and get to your customers’ soul in the process. That soul stirring exercise should be your sole purpose.
USP(Unique Selling Proposition) is passe, dead and buried. The time is about creating UFP( Unique Feeling Proposition).
WANTED: Creative Bravehearts. On both sides. Ready to take the leap?
B(r)AGging Rights!
– Nowhere will you see a better study in contrast. The bags taking its own sweet time to get to where it ought to, unabashedly relaxed, clinically unrepentant, approaching arrogance ( I am the BOSS here, you better give me the VIP treatment, I am an Echo(lac) maniac), do not intrude on my hammock style existence.On the other side, the owners: anxious, impatient, irritated, worried, chaos personified.
– The area surrounding the baggage belt is actually a medical practitioner’s delight. The ideal place to easily diagnose the following including but not restricted to: Slip disc, Parkinsons, Blood Pressure, Hypertension, Colour blindness…is it blue or green? And the real owner sees red in the bargain. If you don’t mind, could you please help me offload the bag – I travelled light this time-it’s just 97 kgs( any more and she would have had to hire a cargo plane).Imagine Mrs Gupta flying off the handle saying ” mere tho bag hi khul gaye “!
“Life truly is a journey, and the less baggage we carry the easier the ride.” ~ Wally Amos
ENDS
WANTED: Editor-in-Chief: For LIFE!
I was never even mediocre at either math or arithmetic. Hence, if this fails to add up, I am completely at home with it.
” So the writer who breeds more words than she needs, is making a chore for the reader who reads ” – so said Dr. Seuss.
Every year at the Oscars, the award for Best Picture gets all the fanfare( a couple of year ago, of course Will Smith had other ideas). That may be stating the obvious. What might be not so obvious is in contrast, the award for film editing flies under the radar. But you may be surprised by the correlation between these two awards.
Since 1981, only three films have won “Best Picture” without also being nominated for “Best Film Editing”.
Why is editing so crucial in filmmaking?
A good film editor removes distractions by eliminating trivial or irrelevant things. She uses deliberate subtraction to add life to the ideas, setting, plot, and characters.
The best films are exceptional not because of what we see but because of what we don’t see.
Die Empty!
Caveat Empty..sorry Caveat Emptor: The caption of this piece is inspired by Todd Henry‘s seminal book of the same name ” Die Empty “.
( I had the opportunity to interview Todd Henry– If you are keen , you can watch it here https://www.brandknewmag.com/todd-talk-nothing-accidental-about-it/ )
Look no further. The wealthiest place on the planet is just down the road. It is the cemetery. No, I am dead serious. And it is a matter of grave concern.
“ The graveyard is the richest place on earth, because it is here that you will find all the hopes and dreams that were never fulfilled, the books that were never written, the songs that were never sung, the inventions that were never shared, the cures that were never discovered, all because someone was too afraid to take that first step, keep with the problem, or determined to carry out their dream.”- so said Les Brown. And what a telling commentary that is on the ‘ ground reality ‘ .
Most of us live with the stubborn idea that we’ll always have tomorrow. But sooner or later all of our tomorrows will run out. It is finite.
We have: One life to live. One life to die. One life to learn and practice what you have learnt. One life to learn multiple skills, arts, hobbies, sports…multiple professions. One life to experience joy in what you perform. One life to share, give, pass on, teach and donate so that you die empty but Rich every which way.
Look within. Let’s define it as WINtrospect (there is no such word in the dictionary, yet). There is a gold mine waiting to be explored. But, all that we seem to do is exchange ourselves for fear to trade on a silver platter. So busy short changing ourselves. As they say, ‘ ideas are plenty but ideas without action are regrets ‘. No need to die before we die. That is called living empty. If power dynamics were to come into play, go empty to the graveyard. Prepare to disappoint it.
Eckhart Tolle has beautifully articulated that the ‘ present is a present ‘ in his book, The Power of Now.
‘Could have‘, ‘might have‘, and ‘should have‘ must be classified in the ‘Must Not Have‘ category of life. So, instead of being afraid your life will end; be afraid that it will never begin. No calendar is going to tell you when to live your life. The greatest loss is not from rejections and failures, but comes from what dies within us while we live.
Discovering your voice is rarely a linear path, but instead is the culmination of a lifelong process of observation, course correction, and risk-taking that eventually leads to the recognition of a valuable contribution.
You came to the earth with loads of inspiration and influence. Dare to offload them out of you before you die. Give out all you carry along into the world and when you are ready to go back, go empty handed!
So, do what lights you up! Day in, day out.
ENDS
The unimportance of practically everything..
ADVerbatim: Some micro and macro outlooks
Responsibility bias
What was ‘Cooking ‘ at Apple the past decade?
What is Tim Cook’s Secret Sauce?
There will be case studies, books, documentaries about Apple under Tim Cook, but right now inspired by a sharp piece in FT that points out what Cook did with Apple. The piece by Patrick McGee quotes Dan Wang, professor of business at Columbia University.
“[Steve] Jobs had an amazing run, he says, but his focus on products meant revenues were inherently volatile, like that of a fashion company. ‘If you can predict next year’s consumer tastes, then you enjoy all the riches—it’s winner takes all,’ he says. ‘But if you get it wrong, you bear that cost. And what Tim Cook did well is to take Apple out of this cycle of having to search for a new hit product every time’…
“Two major products have emerged in Cook’s first decade, AirPods and the Apple Watch—big successes with market shares of 25% and 31%, respectively. But the services division has proved far more significant. Last year it delivered nearly $70bn in revenue—roughly double that of the Mac, iPad or wearables divisions—and margins were 70%.
“During his time at the helm, Apple’s annual revenues have ballooned from $108bn in the year he took over to $365bn in 2021. Net profits have grown 3.7 times, from $26bn to $95bn.
“But more significant is how Cook has built a services juggernaut to eke out every penny of the Apple ecosystem, garnering a steady stream of recurring revenues from App Store fees and nearly 800m customers paying for digital media that expanded during his tenure. That substantially reduced Apple’s dependence on the iPhone—and propelled the company’s share price to a level where its price-to-earnings ratio is now three times higher than what it was a decade ago.”
You can dig deeper in the FT article titled Apple at $3tn: the enigma of Tim Cook
ENDS