The current information age we are living in, spews technological innovation on a daily basis. This means the emergence of technologically superior new, unfamiliar brands and products that are tried, tested and shared by consumers everyday. Consumers don’t want to restrict themselves to the conventional products anymore. And they are not shy to be virgins.
Innovation in consumer products has never been more evident than now. And the key drivers of this innovation revolution are technological advancements, faster connectivity, globalization, lesser barriers to entry and democratization of design and manufacturing. Mass following of icon brands/products is giving way to selective following (or tribe building) of innovating brands leading to decentralization of the decision making process involved in producing or marketing products.
19,000 new apps are added to the Apple app store every month, 18,000 new projects were successfully crowdfunded on Kickstarter in 2012. And the march of startups with innovative products have never been more vigorous. Considering such a massive output, is it any surprising that consumers are spoilt for choice?
But even though consumers are virgins when it comes to trying out new products, their expectations from them are at an all time high. They want brands to be transparent, to make products that offer real value and not just empty advertising backed promises. And when they see such a brand they are also not shy of evangelizing them. Apple reached its zenith sometime back because of these consumers. And now, when after three decades of innovation Apple is now getting a little rough on the edges, many of these consumers didn’t waste time switching loyalties.
The Trendwatching.com report lists down three rules:
1. Keept it simple – Make your product effortless, intuitive and fun to experience and enjoy for the first time.
2. Explain your brand – Be candid about who you really are and what you want. You can’t fool consumers anymore.
3. Don’t ask for commitment – Virgin consumers are not too much into long term relationships like yerteryears. Instead, they love one night stands.
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