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May 2010

LATEST TREND

Like it or not, the need for recognition and status is at the heart of every consumer trend*. Status is the ultimate (hidden) motive, a subconscious but ever-present force.

statusphere_intro.jpg

Now, in a traditional consumer society, where consumption is one of the leading (if not the leading) indicators of success, those who consume the most (and especially those who consume the rarest and most expensive), will typically also attain the highest status. This is why brands have, for decades, gladly provided people with goods, services and experiences that help them (boldly or subtly) impress their peers and help alleviate their anxieties about how they're perceived by others.

However, mature consumer societies are changing, and so is the 'STATUSPHERE': an increasing number of consumers are no longer (solely) obsessed with owning or experiencing the most and/or the most expensive. Our definition:

STATUSPHERE | As consumers are starting to recognize and respect fellow consumers who stray off the beaten consuming-more-than-thou-path, 'new' status can be about acquired skills, about eco-credentials, about generosity, about connectivity... All of this makes for a far more diversified 'STATUSPHERE' than most brands and organizations have traditionally catered to. Time to really figure out how and where your customers are now finding their status fix.

READ MORE

Source: www.trendwatching.com . One of the world's leading trend firms, trendwatching.com sends out its free, monthly Trend Briefings to more than 160,000 subscribers worldwide.


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Latest Trend - Statusphere
Upcoming Events
Strategic Thinking Tip
Best Practice of the Month
Social Media Tips

UPCOMING EVENTS
Monday Morning Mastery ... June 14
Part 6
Law of Unintended Consequences
USD Manchester Conference Center
8:30 - Noon
In partnership with San Diego Regional Chamber of Commerce. Free to Chamber members. $99 for non-members. Click here to register.

All 7 sessions lead to a certificate in Strategic and Systems Thinking and continuing education credits from USD.


Monday Morning Insights ... May 17
Part 3
Top 10 Everyday Tools for Strategic and Systems Thinking
Courtyard Marriott Rancho Bernardo
8:30 - Noon
In partnership with San Diego North Chamber of Commerce. Members: $69 for the 7-part series. $99 per session for non-members. Click here to register.

All 7 sessions lead to a certificate in Strategic and Systems Thinking and continuing education credits from USD.


Strategic Thinking Tip

Work ON the Enterprise First

A critical component of success is to work from the outside in and back to the outside again. What this means is to start with a future external view of your company. Develop a clear vision of what you want to achieve at some date in the future. Scan the world around you to identify future trends that become reality by that date in areas such as population, competition, economy, environmental (green) concerns, political/regulatory changes, technology, your industry, and your customers. This is looking OUTSIDE the organization to determine what you need to consider today to address these future challenges.

Then focus your attention INSIDE the organization to create strategies and actions that address those future trends and close the gap between where you are TODAY and the future vision you want to achieve. Throughout the process, always keep a clear focus on customer wants and needs and how well you are serving those. Every strategy you create should have serving the customer as the end goal, even if it's an enhancement to your internal IT system. The ultimate goal is increased productivity, which leads to increased customer service, which leads to increased satisfaction and a better bottomline.

Once you have a handle on the strategies and actions you are implementing to achieve your future vision, take another look OUTSIDE the organization. Do another external scan and this time link those trends to the products and services you are delivering to your customers. Are they still relevant? Or do they need adjustments?


Best Practice of the Month

If you are doing business now the same way you did it five years ago, it's probably obsolete. ~ Jack Welch

The world is changing so quickly that sometimes it's hard to keep up. Plus, North American training has taught us to be analytical thinkers instead of strategic ones. Both are needed. But without the abiliy to think strategically on a daily, weekly, monthly and yearly basis, many organizations fail to achieve their desired results. Successful organizations take these steps:
  1. Have clarity about the problem/issues and symptoms they face.
  2. A yearly management system and cycle that includes thinking, planning, change with a focus on delivering customer value
  3. Strong commitment from a functional champion at the senior level to lead the problem-solving/change effort.
  4. Cross-functional project team committed to resolving the problem or issue.
  5. Utilization of or access to SMEs (Subject Matter Experts) to help solve the problem or issue.

Social Media Tips

Tip No. 3: The Five W's and H
As you create your social media plan, answering the Five W's - Who, What, When, Where, Why - and the How related to your customers will help give you clarity of focus.
Besides knowing who your customers are, it's important to know WHAT they do when they go online, as well as which tools they use and sites they visit. It's also important to understand WHEN they tend to be online so you can time your online strategies to coincide.
Tracking WHERE they go, which sites they visit and for how long, will give you insight into strategic alliances you can establish to refer customers back to your site(s).
WHY they are using social media will give you more information about their communication habits and who they are connecting with.
The HOW aspect involves the strategies and tactics you use to connect with your customers and achieve your desired results.
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