Social trends that will affect marketing in 2008

Here are some predictions on what social trends will affect marketing in 2008.

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Although they are not all directly related to the field of marketing, there are seven key social trends that will have a profound effect on consumers and brands during the coming year, according to strategic brand marketing firm Group 1066.

 
With a presidential election in the US that is likely to be as unpredictable as ever, the Olympic games that will focus commercial attention on China, and a writer’s strike that could change Hollywood and the advertising landscape significantly, 2008 is certainly going be an interesting year.

Major trends impacting brands
Group 1066 has taken a good look ahead and identified what it believes
to be the key developments in the coming year that will have the most
impact on brands and consumers, including:

1. Google goes for telecommunications
   Google has been making noises about the January ’spectrum auction’,
   with figures as high as US$4.6 billion being involved. Google’s
   intention to provide open access to the data network could bring about
   a new kind of broadband access that would be significantly cheaper for
   consumers than many current telco offerings. Whatever the outcome of
   the auction, Google’s participation signals a shake-up in the market.
    
2. Writer’s strike opens up the advertising game
   Corporate advertisers looking for an excuse to abandon the diminishing
   returns of network television advertising may find an opportunity in
   the current Hollywood writer’s strike which threatens the winter
   television schedule. Expect smart advertisers will engage niche
   audiences on the web instead, and to take a harder look at social
   marketing opportunities through web sites such as Facebook. This key
   event could potentially bring about a new approach to mass marketing.
    
3. Close-up on Chinese brands
   Although China currently has a very poor reputation for quality control
   and product safety, with the 2008 Olympic games being set to take place
   in Beijing, Chinese brands will certainly have an unparalleled
   opportunity to put themselves in front of millions of consumers and
   companies worldwide. Companies such as Lenovo, Haier Group, TCL and SVA
   will have a chance to introduce themselves to the world, particularly
   in the already cut-throat consumer electronics market.
    
4. Financial services companies clean up their act
   After the sub-prime mortgage crisis that emerged in 2007, the major
   financial services companies are expected to embark on some very
   broad-based branding campaigns intended to cover up the lending scandal
   and restore their image with the public.
    
5. Green companies pay for their dirty habits
   With many companies telling consumers how ‘green’ they are, a
   credibility backlash is likely to hit the corporate world – and even
   some of its environmental NGO partners – as consumers and businesses
   begin to seek greater accountability and measurement in so-called
   ‘green initiatives’.
    
6. Open-sourcing for brand control
   America’s 2008 primary season has already seen the emergence of the
   “open-source campaign”, as supporters of Ron Paul raised over US$4
   million in one day, independent of the Congressman’s own campaign.
   YouTube and other social networking sites were overflowing with
   supporter-created content intended to sway opinion, and one
   enthusiastic man even took out a full-page advert in USA Today
   for his preferred candidate. Why do we mention this here? Well, simply
   put, smart businesses can learn some good best practices from the
   political world to help in opening up control of their brands to
   enthusiastic consumers.
    
7. The new buzzword for 2008
   Executives are renowned for loving new buzzwords, and none will be
   buzzing more in 2008 than anything paired with the word “crowd”. Group
   1066 expects crowd-words (there’s a buzzword in itself) to replace
   2007’s “mash-up” as the most over-used and over-hyped word of the year.
   Be prepared for “crowd-sourcing”, “crowd-storming”, “crowd-bursting”,
   and a whole crowd of others.

   Major trends impacting brands
   Group 1066 has taken a good look ahead and identified what it believes
   to be the key developments in the coming year that will have the most
   impact on brands and consumers, including:

8. Google goes for telecommunications
   Google has been making noises about the January ’spectrum auction’,
   with figures as high as US$4.6 billion being involved. Google’s
   intention to provide open access to the data network could bring about
   a new kind of broadband access that would be significantly cheaper for
   consumers than many current telco offerings. Whatever the outcome of
   the auction, Google’s participation signals a shake-up in the market.
    
9. Writer’s strike opens up the advertising game
   Corporate advertisers looking for an excuse to abandon the diminishing
   returns of network television advertising may find an opportunity in
   the current Hollywood writer’s strike which threatens the winter
   television schedule. Expect smart advertisers will engage niche
   audiences on the web instead, and to take a harder look at social
   marketing opportunities through web sites such as Facebook. This key
   event could potentially bring about a new approach to mass marketing.
    
10. Close-up on Chinese brands
    Although China currently has a very poor reputation for quality control
    and product safety, with the 2008 Olympic games being set to take place
    in Beijing, Chinese brands will certainly have an unparalleled
    opportunity to put themselves in front of millions of consumers and
    companies worldwide. Companies such as Lenovo, Haier Group, TCL and SVA
    will have a chance to introduce themselves to the world, particularly
    in the already cut-throat consumer electronics market.
     
11. Financial services companies clean up their act
    After the sub-prime mortgage crisis that emerged in 2007, the major
    financial services companies are expected to embark on some very
    broad-based branding campaigns intended to cover up the lending scandal
    and restore their image with the public.
     
12. Green companies pay for their dirty habits
    With many companies telling consumers how ‘green’ they are, a
    credibility backlash is likely to hit the corporate world – and even
    some of its environmental NGO partners – as consumers and businesses
    begin to seek greater accountability and measurement in so-called
    ‘green initiatives’.
     
13. Open-sourcing for brand control
    America’s 2008 primary season has already seen the emergence of the
    “open-source campaign”, as supporters of Ron Paul raised over US$4
    million in one day, independent of the Congressman’s own campaign.
    YouTube and other social networking sites were overflowing with
    supporter-created content intended to sway opinion, and one
    enthusiastic man even took out a full-page advert in USA Today
    for his preferred candidate. Why do we mention this here? Well, simply
    put, smart businesses can learn some good best practices from the
    political world to help in opening up control of their brands to
    enthusiastic consumers.
     
14. The new buzzword for 2008
    Executives are renowned for loving new buzzwords, and none will be
    buzzing more in 2008 than anything paired with the word “crowd”. Group
    1066 expects crowd-words (there’s a buzzword in itself) to replace
    2007’s “mash-up” as the most over-used and over-hyped word of the year.
    Be prepared for “crowd-sourcing”, “crowd-storming”, “crowd-bursting”,
    and a whole crowd of others.

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