A recent piece on the future of marketing on Think With Google has got me, well, thinking.
We design and develop websites and marketing strategy to still be relevant in 2020 – and I think this is just an arbitrary, placeholder year which marks our internal calendars for an elevated level of innovation.
Accelerating change & the spread of innovation
As technology is accelerating at unprecedented levels, we are nearing what Dr. Gerald Hawkins termed as the next ‘mindstep’ at 2021. Prior mindsteps involved mathematics, writing, radio and television. We are at the fifth mindstep that he described in his esteemed book ‘Mindsteps to the Cosmos’:
The mindsteps… appear to have certain things in common – a new and unfolding human perspective, related inventions in the area of memes and communications, and a long formulative waiting period before the next mindstep comes along. None of the mindsteps can be said to have been truly anticipated, and most were resisted at the early stages. In looking to the future we may equally be caught unawares. We may have to grapple with the presently inconceivable, with mind-stretching discoveries and concepts.
I believe that 2020 is the target start date for hyper-disruptive innovation and diffusion of innovative technology in the marketplace.
To me, this means that that rapid acceleration of change will continue to accelerate at even higher levels – especially as we move forward with emerging technologies like augmented & virtual reality, assistive technologies, and driverless vehicles.
Are you ready for change?
Change readiness describes how ready companies are for all sorts of disruption within their industries and organizations. “Technological change is a reality, and it seems to be occurring ever faster,” explained Jennifer Brett, Americas Insights Lead at LinkedIn.
Welcome to the “Digitorial Era”
The accelerating pace of innovation – in our view – certainly ushering in a new era of communication and marketing. In his book Winning the Story Wars, Jonah Sachs calls this era the “Digitoral Era”. Watch the short animated video above! ^
Take Coca-Cola’s Content 2020 Initiative (watch the video) for example – it was created in 2011 and it embodies elements of an integrated brand and content strategy – with the idea and strategy of ‘liquid content’. Also check out Adidas’ 75X improvement in the effectiveness of their conversion rates with digital over television. They, too, are planning to be relevant not just today – but beyond 2020.
That piece I mentioned that sparked the creation of this article from Think With Google is called ‘Is your 2018 marketing strategy leading or lagging?’
One of the questions from that piece is one I hold dear to my heart:
How to deliver the best brand experiences
Use data to get to know your customers. Then use technology to deliver relevant and personalized messaging and creative across online and offline touchpoints.
Why it matters: “Organizations with integrated marketing and advertising stacks are 47% more likely to be using audience-level data to personalize customer experience compared with marketers without fully integrated technologies.”1
Another question I found to be incredibly relevant to my day-to-day goals of growing my business aligns my values of speed and precision – using a data-based, consumer-centric approach:
How can we make faster, smarter business decisions?
Implement machine learning technologies that speed up access to insight across all areas of your business.
Why it matters: 60% of leading marketers are increasing investments in capabilities, like machine learning, that can predict customer needs.2
How leading organizations use data as a competitive advantage:
Successful organizations start with a business objective that’s supported with a robust data strategy. We’re seeing some of the best organizations groom data science teams who can apply big data, including machine learning, to business problems. In fact, Bain research shows that leading companies are 3.2X more likely to have the right analytics talent embedded in marketing.3
Always propel forward. With data.
There’s so much more we can do with data – which certainly is important for the future of marketing. From making smarter business decisions, improved processes, and understanding our customer’s – one thing is certain – the singular goal of propelling forward.
Sources and References:
- Econsultancy/Google, “The Customer Experience is Written in Data”, U.S. (n=677 marketing and measurement executives at companies with over $250M in revenues, primarily in North America; n=199 leading marketers who reported marketing significantly exceeded top business goal in 2016, n=478 mainstream marketers (remainder of the sample), May 2017.
- Google, 2018, Is your 2018 marketing strategy leading or lagging? by Karen Budell, Carrie Bloch
- Google, 2018, Transforming your business in the age of assistance by Matt Lawson