Monday, June 2, 2008

What’s Next?

In a recent article on Bull Dog Reporter, trend spotter Marian Salzman revealed upcoming trends in the world of public relations. According to Salzman, here are a few things we should keep an eye out for.
1. The subprime mortgage mess and what's going to happen as home equity gets eaten away

2. The rise of millennials in the workforce

3. The rise of Chindia (China + India) as an economic power

4. Brand promiscuity where loyalty wanes as savvy consumers increasingly seek and pursue the best deals

5. The rise of intangibles

Now the first three I would say aren’t particularly surprising. The forth seems practical given current economic conditions. However, Salzman gives little explanation about what she means by “the rise of intangibles.”

She goes on to say: “Another trend I think is important, however, we all have too much stuff. We don't need as much. People want to get down to less—we're really seeing a desire for simplicity, and that's going to have an impact on markets and top brands, too.”

Perhaps with our reduced resources and our over consumption, we all will gravitate towards purchasing things that hold value to us, but are intangibles.

One other thing I took away from this article is Salzman described the importance of taking to a varied set of people. In the world of public relations we can become isolated in our own world. I agree with Salzman that it is important to talk to people at every level of the food chain. If we want to truly serve clients, we must have our head in the game.

Photo by: 油姬's


Amelia said...

I think this last point is an important one. Especially in our global, networked society, people in every field need to be talking with one another. Even in philosophy, I see an opposition between those who are aware of the develpoments in other fields and those who aren't. People with a narrow vision have stale work and little appeal. Though many in the academic fields do not care about appealing to a mass audience, if academia remains aloof to most of the world, it is useless. I think the same can be said for PR. Without dialogue, there are merely uninformed actors and unacting thinkers.

Nigel said...

I agree with the sentiments, but I also feel that public relations should move to a more results oriented industry. Yah, CEOs feel great about spending millions of dollars here and there to help cause, but until public relations departments can show a tangible benefit to shareholders, they will continue to be marginalized in the board room.