Trend spotting consultancies use a variety of methods and produce many different products and services. That said, there are some methods and offerings that repeat across trend spotter type and industry of focus. These are discussed below.
Research Methods
Media Scanning
The trend spotting process almost always begins with media scanning; this subject is addressed in nearly every trend book in print. Media scanning allows trend spotters to get a general idea of what is happening in the world, as well as form a somewhat accurate impression of the cultural zeitgeist.
There are many means by which trend spotters engage in media scanning. Methods and channels differ based on industry, company focus, company composition, and personal preference. Some trend spotters stick to print publications such as well-established newspapers, magazines, and trade journals. Others add in news channels to the mix, and to mix in cultural intel, some also scan television shows and movies.
Today, most of the media scanning process can take place online. Freestanding e-readers (in the form of the Amazon Kindle or iPad, for instance) as well as in-browser readers (which allow users to collect and organize RSS feeds in one location) make it extremely easy to track updates from all sorts of media sources, be they well-established conglomerates or obscure blogs and Twitter feeds.
What matters most about the media scanning process is that the trend spotter is exposed to enough volume and diversity so that he or she might identify significant patterns. It is these patterns that must be subjected to additional research to determine whether they might be part of a significant trend. So long as trend spotters are able to see patterns from the flow of media they consult, their means of scanning that media are irrelevant.
Social Media Scanning
Companies used to pay considerable amounts of money to hear what their customers had to say about their products and services- now they don’t know what to do with the litany of feedback available. Thanks to the explosion of social media in recent years, there is a litany of information online- not only that related to specific brands, but also regarding new social movements, technologies, modes of thought, and pretty much anything imaginable. This information can be tapped by trend spotters who can utilize it to scan for new trends- as well as engage in deeper investigation of new theories and find more information on preliminary research.
Trend Spotting Photography
Photography is one of the most effective tools in a trend spotter’s arsenal. First and foremost, photography is a means of documentation. It can be used to identify, track, and analyze trends as they emerge in the world around us. Furthermore, good photographs can add insightful and vivid content to trend reports, internal analyses, and presentations.
Many have come to equate trend photography with fashion photography. It is true that street and runway fashion shots gush forth from fashion trend reports, magazines, and blogs, but to consider fashion shots to be the only form of trend photography would involve sidelining other extremely useful photographic forms of trend exploration. Trend spotting photography also includes food photography, location-based research, observation-based photographs, interview shots, historical research, garbage shots, product photography, and photographs used for general inspiration.
Focus Groups
For the most part, trend research differs from traditional market research, which largely utilizes formalized research methods, including interviews, focus groups, and surveys. Still, some trend spotting companies utilize focus groups to conduct exploratory research or follow through on leads.
Focus groups are helpful in that they allow trend spotters to gauge peoples’ reactions to new concepts. They are also a good source of new intelligence in exploratory research stages.
Common focus group members sought by trend spotters include early adopters, influential fashion figures, industry experts, and innovators. To gauge mainstream reaction to a new movement or trend, trend spotting companies might also seek a more average group of subjects.
Focus group findings are used as a starting point for more formalized research, often in the form of surveys which can be analyzed on a quantitative basis. Sometimes (especially for less formal projects) focus groups are used as stand-alone research tools. Because trend spotting methodology is by no means formal or uniform, this research method is used in a very liberal way to suit specific information needs.
Maintaining a Scout Network
As of late there has been steady buzz about the power of ‘swarm intelligence’. Individuals, companies, and government agencies alike are realizing that, by tapping into the knowledge of large groups of people (essentially by crowdsourcing), they can create solutions and predictions that are more effective and accurate than those that one or two experts could imagine formulating.
Trend spotting companies have learned how to utilize the power of swarm intelligence via trend scout networks. Whether a trend consultancy focuses on fashion or technology, it can benefit from the knowledge of people outside the firm. It is therefore extremely helpful for a trend spotting company to have an external network from which it can pull tips, expertise, and knowledge.
Trend spotting companies refer to their network members in a variety of ways. Some refer to them as experts, others call them coolhunters, trend scouts, or innovators, and still others have coined new words to give them a sort of branded sense of place and prestige. Trend spotters are smart to give their network members elevated status- these individuals are an invaluable source of intelligence.
The level of expertise of a scout network varies by company and industry. For some companies, networks are small, but consist of highly qualified professionals who have undergone a rigorous screening process before being allowed to join. These experts may be called upon for more than basic trend tips- they might also contribute formal research reports, blog posts, or even act as company representatives in remote cities and countries. Other companies, especially those focused on fashion or youth-oriented markets, are a bit more open with their trend networks, but limit participation to focus group offers, link sharing, tip submissions, and the occasional photo upload.
Because scout networks are so important to trend consultancies’ success, companies must make a concerted effort to maintain network quality and keep members engaged and useful. Some popular ways in which this is achieved is via monetary incentives, free giveaways, engaging online communities, media coverage, and the prospect of street cred.
Regardless of how a trend spotting company attracts its scouts, it has to be sure to constantly consider how it can maintain and improve their number and quality. As many consultancies draw heavily from their networks’ expertise, a reduction in network quality can have detrimental effects.
Promotional Methods
Maintaining an Active Media Presence
The trend spotting industry consists of a loose network of very diverse competitors- each specializing in a particular market or niche and flaunting particular advantages. It is very easy for clients to switch from one trend expert to another, hence it is imperative that trend spotters position themselves as the go-to specialists of the market.
One of the most effective ways to garner this position is by maintaining an active media presence. Some trend consultants and consultancies do this by regularly writing columns for newspapers or magazines, others reach out to reporters. Still more generate their own high-quality content (often in the form of free blogs, as well as public events such as speeches, panels, and meetings) that makes it into the mainstream media by default.
No matter how it is done, trend spotters must maintain an active media presence, for the only other ways these companies gain recognition is via networking and web presence (formal advertisements exist, but uncommon). Clearly not everyone exposed to a trend expert in the media is going to seek out his or her products and services- but some will, and those that do make a significant difference.
Finally, a strong media presence can indicate a certain level of success amongst trend spotting firms- those that seem to always be in the media come across as more effective and trustworthy, and may therefore enjoy higher rates of repeat business from existing clients.
Trend Blogs
While maintaining a blog is by no means mandatory for trend spotting consultants and consultancies, they have much to gain from the process. Blogs allow companies and individuals to promote their work and findings while actively engaging with the greater online community. Therefore, trend spotters can utilize blogs to promote their products and services, as well as learn from innovators, early adopters, and trend spotting peers.
Many trend spotting companies maintain blogs as promotional tools. Often, posts are tied into current projects. They may include teasers related to trend reports available for purchase, excerpts from recently published trend books, and coverage of special events.
Trend spotting companies can also utilize blogs as a structured research process. In the act of maintaining a blog, trend spotters are required to regularly scan the media and other bloggers’ posts on news of new trends and interesting product and serve developments so they might have something to write about. This media scanning can contribute to the company’s overall body of knowledge, and contribute information to trend reports and consulting services.
Some trend blogs are not maintained exclusively by full-time trend consultancy employees. Many trend spotting blogs include articles written by external trend scouts- either in exchange for modest compensation or straight street cred. This allows trend spotting companies to more actively engage with trend scouts and build up a network of experts as well as draw from the knowledge of a much larger network of people.
If a trend blog is well-maintained, it will result in a large collection of posts, which, if relevant, will be read by many people- some of whom may become clients. Reporters and other press representatives might also come across blog posts and approach the trend consultancy for interviews or other sorts of press coverage. Blogs are therefore another wonderful means of gaining media presence and establishing a reputation as a go-to source for trend information.
Presentation Methods
Trend Reports
Trend reports are the bread and butter of any trend spotting individual consultancy, and are offered by nearly every trend-oriented business regardless of size, location, age, or industry. Trend reports present trend spotters’ findings in the most straightforward and convenient means possible, and can be written for broad array of audiences.
While trend reports are a major source of income for trend consultancies, they also work to establish credentials and a proven track record. Once these reports collect over time, their predictions and observations can be scrutinized for accuracy. If a company can prove its past trend reports prepared readers for important developments that have come to pass, this company can prove that its methods are sound and that it is therefore a trustworthy source of information.
Trend Books
Many trend spotting consultancies publish books on trends or the trend spotting process to augment their product offering, establish a reputation, and (if the book is good enough) establish another income flow.
Books published by trend spotters and trend spotting consultancies need not be traditional trend reports. PSFK has taken to publishing a “Good Ideas” book every year- they position these books not as trend reports, but as sources of inspiration.
All things considered, publishing a book is surprisingly easy. Trend spotters and agencies naturally collect a great deal of information, and chances are they accumulate a formidable volume of written content as they go about their regular research and report-making, hence the content exists- the only additional work involves editing the content, improving upon it, establishing important connections, and creating a cohesive theme.
Trend Boards
The general purpose of a trend spotting company is to help its clients develop products and services that are well-suited for tomorrow’s consumers. There exists a broad range of trend spotting firms and consultants which offer a wide array of products and services. These offerings include idea generation, primary research, secondary research, books, blogs, reports, innovation workshops, trend seminars, scenario planning, and product development consulting. Amongst these deliverables is the humble trend board- the focus of this lesson.
Trend boards are essentially inspiration boards that provide an aesthetic summary of upcoming colors, themes, designs, and moods. Their purpose is to provide direction to clients (who may be publishers, designers, buyers, etc…) in a simple, visually appealing manner. Because visual elements can communicate a great volume of information very quickly, trend boards are a very expedient means of summarizing upcoming trends.
Trend boards (sometimes known as mood boards) are used primarily in the fashion industry, but can also be applied to interior decoration, colors, baby products, particular niches or segments, or pretty much any field you can imagine. For the most part, however, trend boards focus on more immediate trends.
Consulting Methods
Trend Seminars
Trend seminars are the means by which trend spotting companies ‘teach’ clients about pertinent trends- or about the trend spotting process in general. Trend seminars differ from innovation workshops and trend report presentations (in a general sense) in that they are more generic in nature and are rarely intended for one company.
The format and specific subject matter of these seminars varies by company and industry, but in all cases, trend spotters leverage their expertise and people skills in this event to create meaningful value for the client.
Specific skills and competencies needed to successfully execute this skills include strong presentation skills, good graphic rendering skills (to create helpful visuals to guide clients along), good people skills, and of course a strong body of trend expertise from which the seminar’s content will be drawn.
Trend Tours
Trend spotting companies tend to be clustered in strategic locations. Most have headquarters in cities known for being at the forefront of one or more industries. These locations provide many important connections and sources of inspiration, and can also be utilized to introduce clients to important trends and developments. While new trends, visionary products, and interesting innovations can be explained in a presentation or trend report, trend tours are often the most effective means of explaining what might be a complex concept to interested clients.
Trend tours allow trend spotters to give their clients a first-hand look at new trends as they emerge in the world’s most innovative cities. Clients can be introduced to cutting-edge entrepreneurs, artists, designers, and early-adopters, and can tour through trendy neighborhoods that are experimenting with new storefronts, lifestyles, and administrative processes.
Trend tours are most often lead in cities where trend spotting companies are located- it is easiest to work from a trend consultancy’s office when giving clients a look at a strategic set of innovators and locations (especially because employees are local experts). That said, many consultancies utilize their international network of trend spotting experts to give on-demand tours to clients in the area, and others will take trips with clients to strategically important areas to help them identify and analyze important developments.
Some trend tours are themed (e.g. trend spotters might introduce clients to a series of artists, or green buildings), others are designed with specific clients in mind, and some are general in nature and even open to general tourists. Very serious trend tours can last for several days and be a mixture of formal meetings with visionary innovators, tours through important districts, and guided ideation sessions. Indeed, trend tours designed for specific clients are frequently paired with special workshops and trend reports.
Regardless of format, trend tours are an excellent way for trend spotters to introduce clients to concepts that can change their entire way of doing business. Just as a field trip can inspire a class of otherwise disinterested grade-school children, a trend tour might be just the thing needed to convince a group of employees that a new trend is too important to be ignored.
Ideation Sessions and Innovation Workshops
In a manner similar to that of design and marketing firms, trend spotting companies often assist clients with product and service development. These consulting services are differentiated from those in the former industries in that they emphasize new innovations’ relevance with regard to future market trends and cutting-edge developments (clients will rarely approach a trend spotting firm expecting a ‘safe’ or ‘traditional’ product to be produced). Some innovation workshops might not be oriented to product and service generation at all- many are intended to help the client think and act in a more forward-thinking, future-conscious manner.
Trend spotting firms that offer ideation and innovation workshops often have additional expertise related to their clients’ particular field. For example, trend consultancies offering ideation to architectural design firms will likely have employees that know their way around the discipline, while those assisting clothing designers are likely to have a firm understanding of fashion and design. Many trend consultancies employ experts with previous careers in these fields to utilize their particular competencies while adding a distinct emphasis on the future. It is suffice to say that not every trend spotting company is suited to hold ideation sessions and innovation workshops with just any company- fields of expertise must match.
When trend spotting companies offer innovation workshops to help clients engage in the trend spotting process independently, they do run a small risk of service cannibalization being that, once equipped with trend spotting skills, these clients may no longer need external assistance. Innovation workshops might nevertheless strengthen client-consultant relations, and clients may still utilize trend experts to handle projects externally simply to conserve time and internal resources. As more and more companies are encouraged to always think in innovative ways and consider future developments, demand for these services is likely to grow.
Trend Audits
Just as a management consultancy might offer a managerial audit to evaluate and improve the internal processes of a company, some trend spotting consultancies offer trend audits, in which trend experts work with clients to evaluate and improve internal innovation and sensitivity to new and relevant market developments.
The processes by which these trend audits are executed are by no means uniform, but all involve a preliminary investigation and evaluation (in which findings are usually presented in the form of a report, complimented by a visual presentation) followed by suggestions on how the company might improve its future-orientation, openness to innovation, and willingness to change.
In this way, trend audits are very similar to innovation workshops, however they differ in that the audits are less of a generic presentation (in which the company is introduced to some helpful methods) and more of an assisted restructuring of internal processes.
Nevertheless, trend audits are frequently bundled with trend workshops as well as ideation sessions in many trend consultancies’ service offerings. On the whole, trend audits play an important role of embedding the trend spotting process into all companies, which can benefit from utilizing it by default instead of only considering it on occasion and via external consultants. This makes this particular service part of a significant shift in the trend spotting industry- that from external trend spotting to trend spotting embedded within basic business processes.
Scenario Planning
A trend spotter’s findings can only go so far. The most trend spotters can do regarding the future is make predictions. Some forecast events come to pass; others do not. How, therefore, can companies utilize trend forecasts to generate sound strategies? They can engage in scenario planning.
Scenario planning allows trend spotters to apply their predictions in a series of different scenarios that may take place in the future. Each scenario is usually assigned a probability (in terms of how likely or unlikely it is to happen) and for each scenario, a company can develop an appropriate strategy.
Not every trend spotting company will engage in scenario planning or will offer scenario planning services. This practice is not very common in the fashion industry, for instance, but is seen much more often amongst technology forecasting companies.
Trend spotting consultants differ from dedicated scenario planners in that they offer products and services in addition to scenario planning, whereas scenario planners focus almost exclusively on helping companies with strategy development.
Special Events: Panels, Keynotes, Speeches, and Meetings
Public events serve several purposes for trend spotting firms. First and foremost, they are another conveyance of consultancy services (and a source of income, for those events which require paid registration). Panels, meetings, and discussions can also serve as an excellent platform for idea exchange and can be used to strengthen relationships with clients and collaborators alike.
Many trend spotting companies and individuals offer keynote services where, for the right price, trend experts will address topics such as specific trends, innovation, or other subjects of relevance. Other consultancies offer panels, meetings, and discussions which often take place several times a year and include speakers and personalities from diverse backgrounds. These events are often co-sponsored between two or more trend spotting companies (or between a trend consultancy and some other sort of firm).
All in all, public events are an excellent means of promoting company research, findings, and initiatives, as well as making meaningful connections with partners, existing clients, and potential customers.
