Innovation in technology will never be as slow as it is right now.
As savvy marketers, we see opportunities for our clients, even as the pace of change accelerates.
1. Consumers Have Changed Fundamentally
- Instant gratification. If your mobile website takes more than three seconds to load, you’ve just lost 40 percent of your visitors.
- Access and control. Pandora and Spotify are training a generation that pays for access to everything without the hassles of ownership.
- Context is the new content. Content may be king, but content out of context is spam. Devices know and respond to your location and the time of day. Beacons work with apps to customize your experience.
- So many channels. Customers expect an experience that’s consistent across all platforms: stores, catalogs, websites, apps, social media, traditional media, mobile, etc.
- Hyper personalization. We’re seeing more products that learn your preferences (Nest, Netflix) or are created for an individual (3D printers).
- Genius is in simple. Companies will be rewarded for making customer experience easier, such as apps that allow you to deposit checks from your phone, pay with your phone or text an emoji to order a pizza.
- Anticipate my needs. Artificial intelligence (AI) will help us wrangle the data that lets us predict and anticipate customer wants and needs. Smart TV predicts and loads your content ahead of time.
2. Digital Marketing
The customer is in control. Ad blockers and more sources of information mean marketing must evolve.
- Mobile access of websites is growing.
- Ad blocking estimated to have cost publishers nearly $22 billion during 2015.
- There are now 198 million active ad block users around the world.
- Ad blocking grew by 41 percent globally in the last 12 months.
- Reuters Institute for the Study of Journalism reported that 47 percent of people surveyed in the United States “regularly use ad-blocking software.”
- Branded content
New realities: blurring online and offline experiences.
- Virtual reality
- Augmented reality
- Mixed reality
- Trade shows
- In-dealership demos
- 3D landscape scanning
- Technology is becoming more economical
3. Internet of Things (IoT)
With roots in agriculture, IoT is familiar to agri-business. Expect it to change agri-marketing, too.
Mobile connects people, IoT connects things.
- Beacons and geofencing provide coupons and messages in proximity.
- Sensors alert when supplies are low and allow one-touch reordering.
- Animal and human health are monitored by tattoo-like or pill-sized sensors and cameras, transmitting data to healthcare providers.
- Smart cars, equipment, animals, clothing, buildings, grain terminals, cities, fields, etc.
- By 2020 connected devices will drive $263 billion in spending on services.
IoT connects people to products/brands/companies.
- From three mobile devices per person to 200 IoT devices per person.
- Connectivity and intelligence will add value to almost any product.
- Wearables can be temporary for events or brand building.
4. Artificial Intelligence (AI)
- IoT generates the massive data that AI needs in order to learn.
- Marketing uses AI to market one-on-one.
- Entrepreneurs and investment make it price-accessible.
Search shift: Mobile and IoT are driving big changes in how we find information.
- Machine learning and algorithms filter big data
- Personal assistants: Siri, Echo (Alexa), Cortana
- Accelerated Mobile Pages
- Microdata informs search engines
- Community adds intelligence: Waze, Yelp
- Watson: a cognitive platform
Customer experience (CX): AI improves CX by processing big data in a way that individual humans cannot.
- Financial decision making
- Predict needs and wants based on behaviors
- Inform customer-facing staff in real-time
- Scheduling and productivity
The shortcomings of research where participants verbalize their opinions can be overcome with biometric monitoring devices.
- Creators of Revenant measured temperature, movement and skin conductivity (fight/flight indicator) of a live audience with a medical grade tracking device.
- Study in Social Cognitive and Affective Neuroscience found that researchers were able to predict accurately the large-scale outcomes of an anti-smoking campaign by measuring brain responses using an fMRI machine. Compared to traditional methods, the brain data more than doubled the researchers’ ability to predict responses to the campaign—a hugely significant and largely unprecedented result for such a study.
- New York-based firm Neuro-Insight has partnered with AdNews to study how the brain responds to nominated ads using a technique called steady-state topography.
- Nielsen bought the Boston-based neuroscience firm Innerscope Research.
In future articles we’ll cover emerging individual technologies. We would love to know what trends you are seeing, too. Email me at email@example.com.