Lighting the Path: A Guide to In-House Trend Forecasting for Marketing and Creative Teams

In the dynamic realms of marketing and creative brand development, staying ahead of trends is a strategic imperative. While external trend forecasting agencies are valuable, they aren't always financially feasible for small and mid-sized organizations. Empowering your teams to conduct in-house trend research adds a layer of authenticity and adaptability.

In this article, KLS Development will share proven methodology, sources, and insights for tackling in-house trend forecasting to guide marketing and creative teams.

Understanding the Basics of Trend Forecasting

Before delving into the methodology, let's establish a foundation. Trend forecasting involves identifying emerging patterns in consumer behavior, design, technology, and culture. A successful in-house strategy begins with a clear understanding of your target audience, industry, and the broader cultural landscape.

Source Materials for In-House Trend Research

a. Industry Reports and Publications:

• Industry reports from reputable sources such as Statista, IBISWorld, and McKinsey & Company can provide valuable insights into market trends and consumer behaviors.

b. Social Media Listening:

• Platforms like Brandwatch, Hootsuite, and Talkwalker offer tools for social media listening, helping you analyze discussions, sentiments, and emerging topics relevant to your industry.

c. Trendspotting Websites:

• Explore trendspotting platforms like Trend Hunter, TrendWatching, and Trendland for curated insights into the latest trends across various sectors.

d. Consumer Surveys and Feedback:

• Platforms like SurveyMonkey and Qualtrics enable the creation of surveys to collect direct feedback from your target audience.

e. Design and Art Exhibitions:

• Attend or virtually explore design and art exhibitions, such as Design Museum or Art Basel, to observe emerging aesthetics and creative expressions.

Tracking Emerging Trends in Real-Time

a. Google Trends:

• Google Trends allows you to explore the popularity of search queries over time, offering insights into emerging topics and keywords.

b. Pinterest Trends:

• Pinterest Trends provides an overview of trending topics and keywords on the platform, making it a valuable resource for visual and lifestyle trends.

c. Kickstarter and Crowdfunding Platforms:

• Platforms like Kickstarter showcase innovative projects and products. Monitoring successful campaigns can reveal emerging consumer preferences.

d. Tech Innovations:

• Stay informed about technological advancements on platforms like TechCrunch and Wired, as these often influence consumer behaviors.

Publicly Available Trend Forecasting Data

a. Google Arts & Culture:

• Google Arts & Culture offers access to a vast collection of cultural artifacts, providing inspiration and insights into historical trends.

b. UN Trends Hub:

• The UN Trends Hub analyzes global trends, offering a macro-level perspective on societal shifts.

c. Euromonitor International's Passport:

• Euromonitor International provides industry reports and trend analysis through its Passport database.

Methodical Approach to In-House Trend Forecasting

a. Collaborative Brainstorming Sessions:

• Encourage cross-functional teams to share insights and observations, fostering a collaborative environment for trend-spotting.

b. Regular Trend Review Meetings:

• Schedule regular meetings to discuss emerging trends, ensuring key decision makers remains regularly updated on evolving consumer behaviors.

c. Scenario Planning:

• Utilize scenario planning techniques to envision potential futures based on identified trends. This aids in strategic decision-making.

d. Experimentation and Iteration:

• Implement small-scale experiments or pilot projects to test the viability of trends within your specific market before full-scale implementation.

Conclusion: A Guiding Light for Future Success

In-house trend forecasting is not just a process; it's a mindset. By incorporating a diverse range of sources, leveraging real-time tracking tools, and fostering a methodical approach, marketing and creative teams can illuminate the path forward. The insights gained from in-house research not only mitigate business risks but also position your team as agile and adaptive, ready to embrace the ever-changing landscape of consumer preferences and market dynamics.