What Digital Companies are Investing In (Surprise, It’s Not All Digital)
Meta is actually delivering products in the real world, even opening a retail store now…that’s right, the real, real world…just like Amazon and Warby Parker and all the other digital-only companies…So what can we learn?
Let me ask a better question:
Where are you spending your marketing money and development time right now??
For example, I know a few companies that went all in on Bitcoin. How could they not? It's the future, and we need to show we are modern and cutting-edge.?
In the same vein, more than a few began Blockchain workstreams as it's secure, not hackable…and, of course, modern…cutting-edge.?
And hello, the Metaverse, it’s where it's all at. Modern. Cutting-edge.
Whoops, almost forgot AI…it replaces everyone and everything and is, you guessed it, modern and cutting-edge.?
We hear these things talked about endlessly, so is this where we should be prioritizing our budget and development time?
As I’ve written many times, “modern” is a meaningless term when applied to marketing. It's always modern or you’re out of business. You need to be relevant,?and smart, and understand your customers, users, and buyers, and know what actually makes them engage…nothing less.
I agree, we all need to be up on what’s new and interesting. We need to understand it and build real use cases…study the economics and discount the analysts and Digibbable.?
Frankly, we need to be:
That being said, watch the companies, the analyst class calls, big techies, or the tech giants…the ones so many aspire to be like. See where they spend their money in order to grow their base and thus their revenue and profit.?
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As I’ve written before, it’s on real advertising…insightful…story telling…well produced and placed in the channels that people actually watch. It’s never on faster/cheaper—not when the content it's up against is the best ever produced and was neither cheap nor fast.?
It's definitely not programmatically created video without wit or human insight…see Google’s new campaign to study what real advertising looks like.?
So what else are they spending on? Looking at people as people. Real human beings who live lives in the real world…with real needs and wants.?
For example, learn from Meta.
In addition to their move to testing with retail, Meta just formed a partnership between DoorDash and Facebook Marketplace to deliver Marketplace orders within 48 hours, up to 15 miles away, so long as the items fit in a driver’s trunk. Sorry, that surfboard will have to find another route…
Why is this an important deal?
Because Meta is locked in a war with TikTok for relevance with younger users and going head-to-head online isn’t working. Marketplace is used by the younger crowd, and forging an offline relationship is powerful…connective…and dare I say, sticky.?
So, while Meta invests in building out the Metaverse for us, they are not neglecting reality.?
While Bitcoin thrashes around and blockchain gets hacked again and again, the Metaverse slows down and the best AI companies are adding premium human Intel services…think about Meta and DoorDash.
Like I said, stay ahead—but don’t do it to be modern… Do it to be profitably successful.?
I’d love to hear some examples from your own experience.
What’s your view?
Founder, Investor, and Fan of Customer Success
2 年Great article, David! Especially like the example you used of Meta, and how it's competing with?TikTok for relevance with younger users. Looking forward to more articles from you.
God only
2 年Amen, God OUR CHAMPION, I believe In My City Abidjan, I believe In My country Cote d'IVOIRE, Amen, Eric Steven Meho Gouentoueu
CMO at UNICEF USA
2 年Words to keep front and center. Nothing replaces human experience and emotional connection. Thank you for the words..powerful reminder.
Writer, Teacher, Creative Director, Advertising Consultant, Videographer
2 年First came the Cutting Edge stage, followed by the the Bleeding Edge stage. With all that slicing and dicing through humanity it's a wonder we're still standing. The next step in the great technological revolution may very well be the last one. It'll be called the Bleeding Out Stage. And as a very famous pig once said, "Th-Th-Th-That's all folks.
Personal Advisor ranking Minister to H.E. Samdech HUN MANET the Prime Minister of Cambodia/ the Secretary of State of the MoJ / Advisor to H.E. Samdech HUN SEN the President of Supreme Privy Council, Senate, and the CPP
2 年I like this say, “stay ahead—but don’t do it to be modern… Do it to be profitably successful.”