People and Purpose Driven Consumption

Our future success depends on how well we adapt to and take advantage of change. We must also understand that ‘The Future is not just somewhere you go, but one you create.’

The Data Deluge
Today, Big Data is merging with Social data, resulting in a massive deluge. So keeping up with pattern spotting and analysis is a great challenge. So how do companies and brands connect with people in a meaningful way when they can’t see the wood for the trees? I believe that a holistic sense-making platform, informed by Multidimensional Thinking, is needed to navigate the complexity of current data context. Einstein was right: “You can’t solve a problem with the same mindset that created it”.

The Writing on the Wall
Our ‘love affair’ with economic growth hasn’t delivered more happiness – increasingly we are looking in new directions for meaning and ways to lead better lives. In the US only 5% of brands are seen to have a positive impact on our sense of wellbeing and quality of life, most people would not care if 82% of brands disappeared. In this context, the writing is on the wall: it is time to rethink business models to match people’s real expectations.

Disruptive Business Models
With 2/3 of people stating that Total Transparency is the most important factorfor corporate reputation, companies have to work even harder to be noticed and to be trusted. Agility and scalability rules Cloud Culture, allowing organisations to collaborate with people in real-time – but the key is to focus on real engagement rather than just focusing on ‘like’ targets. In this context a new breed of extremely lightweight businesses is catering to a highly mobile audience in constant dialogue on the cloud.Meanwhile, Smart Technology informs and shapes lifestyle choices and, with over 30 billion devices connected to the Internet of Things by 2020, companies must be prepared for organisational disruptions – generated externally and internally.

Tomorrow’s Emotional Consumers
Global Citizens see the world without boundaries and these highly mobile digital natives are self-styled experts, who just hit the net and create their own rules. Millennials will form 50% of the workforce and undertake most international assignments by 2020.  What’s more, 2 in 3 graduates will be women, influencing fresh approaches to collaborating and creating value. The Female Factor is strongly correlated to transparency, innovation, talent retention and better bottom-lines. and is therefore a crucial factor informing tomorrow’s emotional consumption patterns.

The Power of ‘Social’ Brands
Social Capital is the value of real community and brand recognition – fostering trust and enabling people to flourish. A strong culture is key for success, as people want to know and feel exactly why they should engage with you. Companies that make a positive difference are more profitable simply because people will demand Better World brand credentials in the future. Thus responsible companies with a Betterness mission yield greater returns on all levels.

Good Life Hunting
With the definition of The Good Life going mainstream, well-being economics is now informing our choices. Happy people are up to 50% more productive, creative and focused, so a happiness business strategy is likely to benefit most organisations. All the above ‘Future Sound Bites’ are interconnected, indicating that ‘Value Driven’ will be the magic phrase informing tomorrow’s successful brands. Therefore, there is a strong desire for economic models and propositions based on a 4P outlook: People, Planet, Purpose, and then Profit, across society and businesses.

Creating Real Value
In an age where people’s need for Mobility and Dialogue sits alongside their desire for Community and Engagement, successful innovation requires a Multidimensional outlook. A true measure of a 21st-century ‘value driven’ brand is how it treats people and the planet, so it has never been more crucial for brands to engage in meaningful dialogue that creates economic, social, emotional and sustainable value.

Keynote
Constellation Connected Enterprise, October 2012, Los Angeles >>

Inspirational Sources
* Meaningful Brands – Havas Media
* Trust Barometer Global Results – Edelman >>
* Rise of the Empowered Consumer – Mediacom
* The Internet of Things – CISCO >>
* Talent Mobility 2020 – PwC >>
* Are Women Better Leader than Men? – HBR >>
* Betterness: Economics for Humans – Umair Haque >>

Images
1.  LA Art Museum – Snøhetta Architects Norway
2. Presentation by Anne Lise Kjaer
3. Social Scrabble
4. Dtac Headquarters Bangkok 
5. Working Together Works – GE and GOOD Corps