Space For All Our Stuff
By or before 2030, consumer data is so rich and deep that brands essentially create themselves based on detected patterns of consumer need, rapidly filling an identified brand niche. Systems detect gaps in brands through methods such as social media monitoring, click-through rates, or A/B testing. They also look outside the immediate product space for changes in the broader environment and use this to anticipate need.
What’s driving this forecast…
- Big data on consumers. Massive amounts of data are becoming available on what and how consumers buy, and how they live minute to minute.
- Predictive computing. Improving AI combined with big data is allowing algorithmic prediction of more aspects of business and consumer life.
- From passive to active brands. Consumer–brand engagement is shifting from passive exposure to brand messages to active interaction.
- Consumer co-creation. Marketing firms are working directly with consumers to build products and brands.
What this means for companies…
- Responsiveness. This approach could allow rapid response to changing market conditions.
- Anticipatory brands. By looking outside the immediate product space, new brand ideas could be anticipated, filling a void that consumers haven’t even recognized yet.
- Speed. Self-generating brands may appear rapidly to fill a temporary need, with many having a relatively short shelf-life. A small percentage will have long-term staying power.
- Complements crowdsourced branding. Self-creating brands complement approaches that let consumers contribute to brand creation. Some of the techniques will overlap.
- Monitoring for downsides. Algorithmic creation will need to be kept in check to see that it does not deviate too far from core brands, company values, or public standards of taste.
For more on the future of brands and branding, see our report The Future of Brands 2030.
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Looking at the long-term of [something something something].
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