Dripped Digest #41: The Era of Sudden Change P1
As Bill Gates once said: “We overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten”.
That really got me thinking as I internalized it.
As an industry, we are instinctively drawn to the new. Sometimes we overestimate the pace of change. ?
Some things endure: my dripped digest newsletter for a cup of coffee. ? And the power of creative ideas.
There are also some calllings within this creative framework:
We are all more committed than ever to creativity, but it is a new kind of creativity.
Creativity that doesn’t stay in a drawer, but creates transformative value in all areas of the business. ??
Because the speed and power of change can no longer be overestimated.
In a world where many believe that growth is increasingly difficult and product advantages are increasingly easy to copy, we see a hunger for creativity that extends to all aspects of the business and all complex challenges from CX to sustainability to innovation.
And that's what we’re going to talk about now. Before we begin, I’d like to thank Dentsu Creative for the CMO Report 2024.
4 key imperatives for marketers in 2024:
1. FROM OMNICHANNEL CREATIVITY TO OMNIPRESENT CREATIVITY
In a fast-changing world where growth is increasingly difficult to achieve, CMOs need creativity in every aspect of their business, not just communications. 82% believe creativity has more potential than ever to unleash growth.
2. FROM SHARE OF VOICE TO SHARE OF CULTURE
In a world where attention has shifted, brands will grow in new ways: through culture, content and entertainment. 88% of CMOs believe that it is more important than ever for brands to be part of culture
3. FROM LEADERSHIP TO CONTROL
CMOs recognize that brands are now built through ecosystems of connected talent, partners and creatives: 77% acknowledge that marketing in the future will be a partnership between brands, creatives and platforms.
4. FROM SEAMLESS EXPERIENCES TO DISTINCTIVE EXPERIENCES
As product benefits are quickly copied, brands will differentiate themselves through connected and distinctive brand experiences. 75% of marketers agree that every touchpoint can and must tell the brand story – from communication to retail.
FROM OMNICHANNEL CREATIVITY TO OMNIPRESENT CREATIVITY
The relationship between creativity and effectiveness is often debated. ?
Studies from some of the most reputable sources have shown a growing delta between creatively excellent work and commercially effective work.
There is much debate about why this is and how the pattern evolves, but perhaps one answer lies in how we define effectiveness. ??
The world has changed, but the way we measure impact has remained largely the same. With relatively few exceptions, the industry is geared towards measuring the familiar dopamine kick of a paid (often TV-driven) campaign.
This doesn’t quite reflect the way creativity drives businesses today.
CMOs are clamoring for creativity in every aspect of their business. Creativity in customer satisfaction, creativity in tackling sustainability, creativity in the most pressing business issues.
With this in mind:
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It’s time to redefine creative effectiveness and not only look at how we can drive growth within existing business and communication models, but how we can change the model entirely.
FROM SHARE OF VOICE TO SHARE OF CULTURE
Marketers are more concerned than ever with building brands through culture.
As an industry, we are experiencing a global redistribution of attention. ??
As Dr. Grace Kite, economist and founder of Magic Numbers, puts it, “There is less and less of what we advertisers would most like to buy – 30 glorious seconds of a consumer watching audiovisual advertising on the TV screen in their living room.
”In a world where broadcast media is reaching a long-awaited tipping point, we need new ways to tell our brand stories and build an outsized cultural footprint.
Nevertheless, 74% say that it is a challenge to connect their brand with culture.
73% find it a challenge to tell their brand's stories in new ways, such as entertainment, experience or action, while 77% agree that building a brand in a world where broadcast media is less relevant will be a challenge.
Helping brands build reach and impact in a new world demands new tools and insights; not all reach is created equal. ?
FROM CONDUCTING TO CONTROLLING
The culture is driven by communities with shared passions and interests that interact with entertainment, brands and businesses on their terms. ??
In a world where every piece of content we consume is increasingly mediated by algorithm, interaction with these communities is critical.
Not only will this be an increasingly important way to increase reach - community is the new benchmark - it is also a key driver of authenticity: 82% of CMOs agree that Generation Z/C expects brands to be authentic.
?? A new generation of teaming, talent and collaboration platforms will emerge.
FROM SEAMLESS EXPERIENCES TO DISTINCTIVE EXPERIENCES
The lines between content and commerce have never been more blurred as commerce platforms, social giants and entertainment platforms alike strive for the holy grail of shoppable, culturally engaging and artist-created content. ??
In response to the rapid commoditization of products and experiences, today’s CMOs need to turn every customer experience into a brand experience. ??
?? With the product advantage easily copied and the competition just a click away, brands will look to add value and differentiate themselves through an ecosystem of digital services and experiences.
The obstacles are:
To overcome these obstacles, brands need not only a strong and distinctive experience vision, but also the ability to implement the data, technology and content stack that will make the vision a reality.
Despite these challenges, CMOs are investing in a variety of new technologies aimed at creating immersive, distinctive and engaging experiences.
The technologies that CMOs are most likely to adopt in the future include metaverse/web 3.0 technologies, mixed reality and gaming; all technologies where the right craft partner will be essential. ??♂?
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3 个月Exciting and insightful trends!