Wanted : geek + mathematician + anthropologist + creative mind.
You will know why the team in the title is needed at the end of this read. Meanwhile, I was going through a research paper about online advertising and proposed legislation in the European Union (EU).
The Public’s Private Agenda.
The laws will work on preventing stalking or trailing folks on the net. There is an increasing imperative for brands to build first party data and leverage it. Put up digital ads, hope for a response BUT no more cookies.
First party data – the opportunity.
Any business which has a large and growing digital foot print has a great opportunity to unplug from a cartelized ecosystem and organically harness the digital foot print left by their own customers across the site / the app / call center / digital kiosks / screens / branches etc. Those with over say 10 Mn+ customers, have a very strong maze of opportunity to create a smart, seamless, and agile Experience of One.
Similar is not Same.
Those brands hyper personalizing using AI / ML, miss the nuance of similar not being same. Besides, the improper tagging and attribution of IP opens another set of copyright and privacy issues. Technology needs strong human support.
Redefining Mass Media.
Digital is mass, personalized, measurable, and dynamic. Every time your screen refreshes the world has changed. In times of technology being porous and product parity, experiences differentiate brands. Increasingly first party data of this kind will become the primary office for all marketers, and this is where a lot of investments at a companywide level will move for tech, ops and marketing - even hiring.
B2B – Back to the Brand.
When it comes to digital, brands will need to wean off aggregators and become one themselves. For instance, a company like Apple is holding the staff for Customer Privacy - imagine the power it has with over 1 Bn Customers and an average of 2 Apple devices per customer if you add the watch which is now becoming the entry point ~ 2.3 devices at the very least
Apple can shift gravity!
Campaigns such as these - https://youtu.be/NOXK4EVFmJY can turn out to become an evangelical movement. Even those Customers who are not a part of the apple ecosystem will get alerted and seek for downsizing their data sharing. Is it just the inflexion point for mass migration to Apple?
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More First Party Ecosystems.
OTT platforms have a similar opportunity as they are consumed by the whole family together and separately together. They are prone to seasonality and need to constantly refresh and renew content.
A bank can be the next possible Apple like ecosystem. They are the starting point of all labyrinthine routes for money in motion - physical / digital both. It will need smart tech and creative minds to create wonderful experiences for client out of the patterns.
C-Suite is the Loom.
Integrating and leveraging data, is much like fine work that you see on some of the sarees from India. A deliberate parallel, as both the jobs need art, science, patience, and multiple teams collaborating to make that 1 unit. And the loom that will bring it all together is the C-Suite. The handloom is the starting point for such intricate work. Later one can get the machines in.
Verb > Epithet.
The story of Data in companies is - individually brilliant, collective failure. Data being the new oil becomes just an epithet to enamor. Unless the oil is going to improve engine efficiency.
Reinvention is the new business.
Vantage points can become the birthplace for missed opportunities. You just can’t enjoy the views, while unrelated businesses open new flanks.
For instance, welcome to Starbucks Bank - https://twitter.com/chrisxmunn/status/1525460934960984064?s=21&t=e8CAcsZdR7UhU_Z6PSpz_A
And by the way, Apple is being seen as an insurance company first ! ?Tech catch ups are exhausting because of speed, scale and time which is lost. At the end of it all the missed opportunities define the level of growth.
Marketing Teams New.0!
A time premium adds to the need for slick teams. The New.0 marketing team will need to have slick star cast of a geek, a mathematician, an anthropologist, a creative mind with a sharp love for semantics !
Almost like a Trek Voyager - to go where no brand has ever gone before !?