The most innovative companies are ahead of the competition by identifying and “hunting” trends, which is why Coolhunting has become an indispensable tool for all types of sectors. Get ahead of yourself and identify the trends or forecasts with the greatest future projection.
Index of contents
- What is Coolhunting?
- Coolhunting context
- What is cool”?
- Hunting for trends
- Characters and stages
- Advantages of Coolhunting
- Companies or agencies where Coolhunting is useful
Index of contents
What is Coolhunting?
It is a recent and very novel discipline that aims to detect how the combination of certain changes in society can come to mean new needs for our consumers and that, a priori, are not detected through traditional market research studies .
The context of the appearance of Coolhunting
We currently live in a society where our values and preferences are continually changing . We are used to living with changes and fluctuations in our scope of everyday life. We have adopted a lifestyle where we are so used to changes that when they don’t happen, we get bored. We can conclude that the current market is unfinished, immediate, convenient and fragmented.
In this context, the Coolhunting methodology by discriminating what is relevant and what is not for the population at all times, allows you to detect new business opportunities and threats while detecting new booming market niches.
Working with this future perspective gives you the possibility of being innovative and launching new products that allow you to differentiate yourself from the competition and that are adapted to the true needs of consumers, including responding to the demand that is to come.
So we will say that the main difference between trend research and traditional market research is that while the latter is used for analysis in the present tense, trend research will allow you as a professional to carry out a proactive listening to the market and anticipate the future and see insights about what is to come.
But in order to understand its true meaning, it is not enough to know its functions; but you also have to take into account its main associated term.
What is “Cool” in Coolhunting?
The term “Cool” (understood as an attitude, not a person or thing as it is commonly believed) is something original, authentic, relevant and accessible and therefore has a communicative coverage. This fact encourages consumers to want to appropriate it.
Thus, Coolhunting is the trend research procedure that tries to capture the signals of these cool elements when they begin to appear, to help companies and professionals adapt to them and thus be more competitive and innovate in the market .
It is about connecting the lifestyle and values of 2.0 consumers to associate them with the brand as well . In this way, the aim is to create a connection or link with a specific audience. You must be the fastest and adapt the trend in the first phase. Fashions are temporary and thus you will be able to make the most of it.
Coolhunting: hunting for trends
Trend research and Coolhunting are not limited to offering a current photo of the consumer, but rather it offers an overview of the future evolution of the tastes and preferences of our audience, allowing us to anticipate and detect new business opportunities. , possible threats and new market niches that are emerging.
The Internet and digital media provide us with the information and tools necessary to search and hunt for future consumer trends. P udiendo follow trendsetters and innovators, monitor developments in a particular sector, analyze media events, proposals to discover cutting edge influential cities and meet the “ultimate” and the future, however it is necessary to know how and where to look to get relevant information and useful to apply it in our business.
Coolhunting characters and stages
The Coolhunting phenomenon is given by a succession of characters that act in a chain of successive stages to create the effect that is commonly called “the fish that bites its tail.”
First Stage of Coolhunting
In a first stage we find the Innovators . These characters (such as Apple or Nike) are those who always distance themselves from the market and seek to create different ideas, concepts or products.
Second Stage of Coolhunting
The second stage comes from the hand of Early Adopters (early adopters), those who are always waiting for what the innovators create, appropriate it and become authentic brand prescribers because they have greater influence than those who create the product and / or service.
The reason they are aware of trends is because they like to differentiate themselves from the great mass. An example of these influencers would be fashion bloggers .
Third stage of Coolhunting
In the third stage the mainstream (great mass) intervenes . In a belated way, the great mass of consumers influenced by influencers end up adopting the trend and it goes viral. This is the most profitable phase for companies that market the novelties due to the fact that sales increase substantially.
As a professional you should know that it would be a mistake to bet everything on a single product or service that creates a trend, you should have another novelty in the background to bring it to light at the right time. Why? This is due to a fourth stage in which the Early Adopters abandon the trend because it no longer allows them to be “different from the great mass”, since now it is also following the trend.
This is when the Innovators re-create a trend that is acquired by the Early Adopters and they follow the stages successively.
What advantages does Coolhunting bring us?
Coolhunting and Trend Research allows us to:
- Convert threats into opportunities and minimize their impact on the company.
- Take advantage of trends for commercial and economic purposes .
- Innovate and create new concepts in brands, products or businesses.
- Launch products / services successfully .
- Match company innovations with social trends .
- Become leaders of innovation .
At this point, it is very likely that you ask yourself: Where can I incorporate the practice of Coolhunting in my company ?
Areas in companies or agencies where Coolhunting is useful
In SMEs, Startups or public entities, Coolhunting must not be carried out by a specific department; rather, there are multiple departments and entities that can benefit from this practice, such as:
- Management Department
- Corporative strategy
- R + D + i
- Product design
And you, do you know what will affect your business tomorrow? Do your strategy, your products / services adapt to the evolution of your current or potential users? Be the first to hunt down the trends in your sector and become the strategist that leads your company to be an innovative agent! You will find techniques like this in the Postgraduate Program in Strategic and Product Marketing . It is time to change your strategies!
Postgraduate in Strategic and Product Marketing
Learn with the best professionals
Get trained in Strategic Marketing!