It's hard to believe we’re already in December and as such, it has us taking stock of the incredibly eventful year it’s been and looking to what lies ahead. Our digital event on ‘The Forecast for 2021’ examined trends in luxury, fashion & beauty, media, events, retail, marketing and comms and more. We heard from panelists Sveta Doucet, president of Wednesday Agency, Bex Meredith, co-founder of Studio Beauty, Ed Starr, principal of BMF and Priya Rao, Executive Editor of Glossy.
Read on for their key 2020 learnings, predictions for the future of the industry, plus the positives that illuminated our hopes for the new year.
It's a sprint – and a marathon: Brands and agencies must ideate and execute at a rapid pace, as trends, and therefore relevant content, expire quickly.
Since the pandemic has accelerated digital experiences and amplified consumer values, you must be consistent, drop one-off actions and commit for the long haul
Although virtual is likely here to stay, events and experiential heavyweights are cautiously optimistic of a full return to live events and gatherings by the late summer/ fall of 2021
Be a Renaissance marketing pro: Deepen your knowledge in a range of specialty areas to maximize your value to your brand/clients
There is a retethering of relationships between brands and consumers; brands now have direct access to their audience and a new opportunity to form one-one-one relationships with their customers
For strengthening your brand’s purpose, think about sharing educational resources, providing unexpected solutions, or using a new social platform like TikTok to increase engagement and authenticity
Turn the customer journey into frictionless planning and put social commerce at the center of your ideas
Don’t do a blanket pitch to media; find fresh angles for each outlet and make your added value clear to each unique publication (Hint: Personalized pitching builds better media relations and gains better coverage)
Keep upping the ante with your purpose: Sustainability, convenience, DEI and other cause-driven business imperatives will remain hot topics, editorially speaking. It is now the forefront of the story rather than just a tab on the website
Campaigns need to be diverse, both in front of and behind the lens: It’s not enough to hire a Black model, you need to have diverse talent in all facets of the campaign development and creative team
Consumer empowerment is key. Brands who have built this into their foundation will thrive next year
Additional words of wisdom:
The best creativity comes from introspection
Expertise is important, but bringing the right people to the table is most important
Broaden your expertise and wear many hats. This doesn't make you a generalist, it makes you knowledgeable in many areas
Stay cautiously optimistic, because the industry’s best is still yet to come
