Review

What was last class’s key insight?

JWT Report

Method?

 

Our trend reports are the result of quantitative, qualitative and desk research conducted by JWTIntelligence throughout the year. Specifically for this report, we conducted a quantitative study in the U.S. and the U.K. using SONAR™, JWT’s proprietary online tool, from March 4-15, 2011. We surveyed 590 Americans and 434 Britons aged 18-plus (data are weighted by age and gender); we also polled 87 teens aged 13-17 residing in the homes ofadults surveyed. In addition,we interviewed experts and influencers in technology and academia. (Miranda2011fm, p. 3)

Trend/Drivers?

 

Fear Of Missing Out (FOMO) is the uneasy and sometimes all- consuming feeling that you’re missing out—that your peers are doing, in the know about or in possession of more or something better than you. FOMO may be a social angst that’s always existed, but it’s going into overdrive thanks to real-time digital updates and to our constant companion, the smartphone. (Miranda2011fm, p. 5)

Who’s afraid of missing out?

… all Millennials (13-33) feel more left out than any other generation when they learn their friends are doing something they’re not, buying something they’re not or finding out about something sooner than they do (see figure 2a)…. Among teens specifically, both British and American respondents expressed similar sentiments, with 64% saying it’s easy to feel left out on a site like Facebook and 60% saying social media has amplified their FOMO. Compare this with Gen Xers in the U.S. (31%) and the U.K. (41%) who said social media has increased any fear of missing out they have, and with Boomers (25% in the U.S. and 21% in the U.K.) (see figures 2b-d). (Miranda2011fm, p. 9, 10)

 

Manifestations?

growing media buzz, FOMO in marketing and entertainment, digital rudeness (Miranda2011fm, pp. 12-16)

 

Potential?

 

Brands have many opportunities to fine-tune messaging, offers, contests and more to tap into fears of missing out. Although there’s no cure for the common FOMO, brands can focus on easing it, escalating it, making light of it or even turning it into a positive. (Miranda2011fm, p. 17)

Ethical?

Note that when tapping into FOMO, marketers must retain some sensitivity—this state of mind can be a sore spot for many consumers. So while FOMO has great potency as a marketing tool, it also has the potential to twist the knife for those especially sensitive to it (Miranda2011fm, p. 18)

FOMO and Conspicuous Sociality

Defining FOMO

FOMO feelings

FOMO’s manifestations

Conspicuous sociality

Addiction and illness

Bottle of Huxley's 'Ner-Vigor', England, 1892-1943 Wellcome L0058547

Conclusion

Wrap up

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