Brand Forecasting

The power of our brains is our imaginations.

We are biologically engineered to use our brains to try and predict the future. The main conduit for performing this impressive feat is not other than our creative imaginations.

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This is how we try to make the best decisions and choose between options. From life-or-death situations to daily tasks, our brains are wired to try to predict the outcome of our choices and live each scenario through our imaginations to protect and preserve our lives. Evolutionarily, this is how we survived and outperformed other species according to science. The neuroscience of our prediction models are core to who we are and who we are becoming thanks to our endless imagination’s ability to portray the future and forecast.

Since this forecasting is innate to all of us (including your customers), it would be wise to see what this means for your business and just how your brand marketing ties in. Let’s explore what this means for your business under the umbrella of what I call “brand forecasting.”

Brand Forecasting

Since neuroscience and human behavior support our model of forecasting, we can examine the role of your brand when it comes to these future predictions.

By looking at how our brands interact with this innate prediction behavior, we will also explore how your brand can take advantage of it in your marketing and beyond.

When we consider your business isn’t just viewed as a brand but is put through this lens of predictive models, we can exercise just how that impacts a brand. Let’s first clarify that brand is the perception of your business that the individual has in their mind. This perception (AKA your brand) is the element that is being sifted by the predictive lens of forecasting.

Yes, your brand is now subject to the forecasting your audience is applying as they “play out” the variety of scenarios. For example, this could be playing out how reliable your service or product will be if they choose to go with you over the competition. It could be them playing out if they will regret their decision or not. This predictive play could also attempt to forecast the consequences they could face for even making a decision which would compare you to not making a decision and sticking with their status quo.

Obviously, these scenarios can become increasingly complex depending on your offer and their situation. This forecasting is inevitable for your business and its perception, so it would make sense to be proactive and use it to your advantage, right? As complex as this is, I’ve tried to simplify this to three aspects of brand forecasting and how your business can predictively win:

Narrative Forecast

When we consider our predictions of the future, they are skewed by our beliefs and narratives. Our imaginations bend the future to conform to how we see the world and what it means to us. This internal narrative is blended into our forecasts and can help with accuracy or even derail the future scenarios based on our personal experiences.

Your business has the power to assist by providing a narrative that accompanies the general perspective of your select audience. For this to be done effectively, your brand must have a clear focus on who you are addressing and have in-depth knowledge of their lifestyle. This obviously means your audience will not be a massive swatch of different people, but be an offer that appeals to a smaller group. When this is the case, then you’ll have a better grasp on what that internal narrative may sound like and your brand will be able to come along to relate and relay to them just how you can bring value to them. This offer is then tested through their predictive model and you can address this forecasting in your marketing and messaging. When you understand your audience, this will add immersive accuracy to your offer. It will then bring you much favor in their perception of your business as you outperform the other options in the brand forecasting.

Imagine if your brand can frame their current scenario so accurately that when they compare you against their status quo, you’re able to address that and show the value of making their purchase decision. The narrative you portray to them isn’t about diffusing the generalities of their hesitation, regret, etc., but specifically identifying what exactly will make your select audience feel that way and what would help their predictive model play out so they don’t feel that way. The point is that when your brand narrative is able to relate closely to your target audience you’re able to work with these forecasted scenarios, address them, and even use them to your advantage.

At a young age, you most likely did this when you would ask your parents to do something. Proactively, you knew your parents would worry about certain scenarios or ask certain questions. You knew their minds would go there because you know them. You even prepared your “ask” to address some of these forecasted worries. For example, “Don’t worry, my friend’s older sibling will be with us.”

Scenario Perspectives

Due to the inevitable forecasting, your brand can help paint pictures by visually showing your audience what their future will look like with you. Taking into consideration their current situation and the forecasting their minds may jump to when trying to play out their options, your brand can reveal futures that relate to their desires and fears. IKEA does this by creating scenes within their warehouse that allow the shopper to experience the future scenario and actually see themselves in it. Car dealerships will do this when they let you test drive the car. They might even let you try the higher priced package of the car or even let you take it home for the evening. This commandeers your forecasting by giving you “experience” that skews the predictive scenario in your head.

This enchantment is favorable because your own personal experience alters your beliefs and narratives. This ultimately leads to your behaviors adapting to this. When you test drive, walk through that model home, or even try the food sample at the store, you have behaviorally committed an act that says “I am someone who does this…” which alters your perception of yourself and the offering.

This enchantment by scenario can also be accomplished through association. Whether that’s a beautiful ad of the product with fabulous people being amazing or even a celebrity endorsement, these associations will alter our perception and impact our forecasting. These elements of an association are all relevant to your audience, of course and what they personally find attractive.

The main takeaway is that the scenarios we forecast are affected by the experience and associations we have with the business and its offering which is effectively the brand. This is because the new information we gain from these scenarios feeds into the hunger for information we have when we are attempting to forecast future events. We are striving to gain information by playing it out.

More Than a Meteorologist

When your business has a pulse on the market and, more importantly, your specific buyer, you will be able to present information and future scenarios as easily as a meteorologist reporting the 7-day forecast. The information you have is able to be repackaged and presented in a way that your audience understands with messaging and visuals, just like a weather reporter. You can tell them it will be foggy in the morning with a slight chance of showers in the afternoon so they should wear a jacket and bring an umbella. Your data, analystics, and experience not only provide them with information, but give them insights into what they should do with it. Providing information is great, but they will naturally ask “so what?” and this gap is a void your brand can fill with an offering.

Helping the audience forecast is important because it shows your business is a viable resource for valuable information. It is relevant and relatable as to your audience, their needs, and their internal forecasting. Telling them valuable information with additional input of how you can help or even remedy that future scenario of “rain” will make you a favorable solution. You significantly related to them and then provided a solution that solved that forecasted state. Win-win-win.

Beforecasting

Understanding the foundational neuroscience behind our innate ability to “predict the future” and forecast plays a major role in whether your customer buys from you or not. They may forecast risk or uncertainty when they play out a future with you and their decision to choose you pays the price as they choose another prospect or decide not to choose at all.

You can forecast by imagining how these scenarios can play out. Now imagine how your business could save these scenarios, add value, or even be that favorable resource that is not only relevant but the most reliable option of the predicted future.