Marketing is a world that is constantly changing, especially nowadays that its major field is the digital world. The marketing area is always innovating to bring the best and newest trends to users and customers. The reinvention of marketing is to fulfill the changes within the society, and it is here where the coolhunting term is used.
This term is about the search for new trends in different business sectors, from fashion to technology. A coolhunter (being the expert of coolhunting) is in charge of focusing and predicting new ways about the interest and tastes of any group of consumers. Technically is a huge market analysis, but it goes beyond that because coolhunting is not just about the market but also includes design, patterns, society, and even behaviors to have accurate data. Read more about this trend that is becoming important in the marketing world!
What is coolhunting?
This term has been used in the last decade to investigate new trends within our society. That way, companies, and professionals can adapt quickly to changes. In the beginning, the fashion industry was the one using coolhunting, but with the fast changes that we are experienced, this ability is now used in many areas.
A coolhunter is a researcher seeking information about trends, styles, aesthetics, tastes, and behaviors. This data can obtain scanning different websites, but primarily through social media accounts or hashtags that contain high user traffic. This is professional research of social interest areas, and it will depend on the brand, the service, or the product, where the information is intended. There are several types of coolhunters, check them out:
– Innovators: they are the first ones to know about innovations; they can take risks because nobody can assure that the trend will be successful.
– First adopters: after the innovators, they are the first ones to adapt to new trends, but they are more cautious and take more precautions than innovators.
– Early majority: after the trend has been discovered and people know about it, the next group adopts the trend, because they generally have good or bad opinions about it.
– Late majority: this is the least innovative group. They will adopt a trend when it is globally successful in the market.
Steps to perform a great coolhunting
Every coolhunter knows that there are four steps to obtain information through coolhunting. Those steps are:
- Observe: here is about a close observation of movements, suggestions, needs, and environment, to analyze what the consumers will need. This observation is with the major brands, which are the big competitors since they are the ones who set the trends. Besides, this is also important to know where to do it.
- Detect: With observation, every coolhunter can detect the changes that could have a large or small influence on the market. This is a must skill for every coolhunter, and they must be familiarized with the environment.
- Analyze: after having all the data, the coolhunter can process all the information and facts that has been obtaining through websites, social media, channels, newspapers, magazines, photos, surveys, and others, to have a vision of the next new trend.
- Capitalize: this is the step where the application of the previous study is made in the marketing and sales strategy. Here is where the coolhunting technique is materialized, with reports and tools, and more information is provided to the company or brand about the future in the sector.
Advantages of coolhunting
Coolhunting has become one major reference in most marketing campaigns, especially if the brand is looking ahead of trends for a better position in the market. With the correct use of coolhunting, success is achieved. This allows both company and coolhunter to analyze a trend development and to make the right choice for the brand.
One of the decisive roles of coolhunting in marketing is its effectiveness as a technique for trend prediction and its versatility. When it is applied correctly with the presented guidelines, it can generate the desired results. Besides this, a good coolhunting practice helps the company quickly adapt to any change and improvement within the processes and the strategies.
Remember, the company that cannot adapt to new trends and changes will no survive in the market. Each trend can offer a new consumer segment, which can help to diversify the company. This would present new marketing campaigns that will help to increase the popularity of the brand.
Another great advantage is the possibility of creating new products or innovating old concepts. Every new generation offers new things to the market, and that can be a new era for the brand. And who knows, maybe the company can be an innovation leader with new marketing concepts and trends.
In conclusion, coolhunting can be exactly the move that put the company in the first position over its competitors, with the use of coolhunters to discover the new needs of the consumers, and what will be the changes that the future will bring. Check out more interesting articles about the new moves within the marketing world and follow us on our social media!
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