1. Be Honest.  The trend towards Corporate Social Responsibility looks set to continue – which is great in my book.  Consumers are demanding more transparency and honesty and, as a result, more customers are shopping locally again and using suppliers they trust.
2. Mobile Internet.  Teenagers are increasingly using mobile internet, rather than fixed line broadband.  This trend looks set to continue with the increase in mobile phone technology and, if you’re targeting teenagers, it’s something you need to be aware of now.
3. Niche Markets.  In marketing, we used to work off Pareto’s principle – 20% of your customers typically brought you 80% of your business, so you would focus on what that 20% wanted.  But the internet is changing the rules and giving people an endless choice.  As a result, niche marketing can now prove very profitable – particularly since you can tap into niche’s worldwide at the tap of a button.
4. Self Employment.  Throughout last year, many companies down-sized and made people redundant.  Consequently, business start-ups are increasing, as people choose to take their fate into their own hands.  The growing number of start-ups will provide endless opportunities for some companies.
5. Wellness.  Baby Boomers remain a significant proportion of our economy and they have always driven trends.  Now approaching retirement age, they don’t want to grow old and they don’t want to end up in care (as they’ve seen their parents do.)  They are therefore driving a ‘wellness’ revolution for anti-ageing, exercise classes, cosmetic surgery etc. to keep them young.

Check back tomorrow for another 5 trends to watch this year.

Renault has cleverly tapped into this modern dilemma and created what I consider to be one of the best adverts I have seen in a very long time.

With my marketing hat on, what do I think they’ve done right (that others can replicate)?

• They understand their target audience perfectly
• The narrative correctly describes people’s emotions and the dilemma they have between enjoying themselves and doing the right thing
• The advert uses the same language as their audience
• They don’t preach, dictate or insult anyone
• They don’t make light of the environmental situation
• They share what they as a company are doing to combat climate change
• And they offer a solution

To be fair, I’ve driven Renault’s and never been terribly impressed (I am admittedly a bit of a petrol head), but I can’t wait to test-drive their new range of electric cars.

Great job Renault (and your advertising agency) – well done.  I hope many more advertisers follow your lead and wake up to the responsibility many modern consumers feel.

20,000 followers of @themediaisdying on Twitter are receiving minute-by-minute accounts of the latest redundancies, mergers and closures as the media industry as we know it changes beyond all recognition.  So what’s going on?

Most media relies on advertising for it’s funding, for example: newspaper adverts pay for the journalists who write the stories people want to read – the reason they buy the papers and magazines.  Advertising breaks on TV pay for the broadcasting rights and cover the cost of providing the programmes people want to watch.  It’s always been perceived as a necessary evil – we have to receive the advertising in order to get the news / the programmes we want.

But, in recent years, this business model has changed – thank goodness.  With changes in technology, people can now fast-forward adverts on television and source their news online via the BBC or their favourite newspaper.  The power is back in the hands of the consumer – which is where it should be to my mind.  The market has also fragmented, with more suppliers competing for our attention, for example the plethora of new digital TV channels and new magazines / online newspapers and blogs.  As a result, big businesses are cutting their advertising revenues, because the returns are reducing.

And that’s where your business comes in – do you monitor return on investment from your advertising?  If so, is it reducing?  Could you be spending your money in a different area and getting better returns?  If you don’t know, it’s definitely time you started finding out.  Check back tomorrow for some tips on how you could cut your advertising spend.