Marketing is transforming from control to collaboration. Simply pushing a message out via traditional print, radio, TV or even internet advertising is fading. There is a growing effectiveness in multi-channel marketing which maps to buying behavior (start comparison shopping on-line on your PC, visit the brick and mortar store with your on-line device making you smarter in real time and then finish the transaction at home on your tablet); social media interactions (seeking peer feedback on products); and precision marketing (i.e. location based awareness of the mobile shopper in your store who can be targeted for a promotion in real time).
Keynote speaker Gerd Leonhard, a media futurist who has a diverse client list which includes YouTube, Nokia, The Guardian, Google, Sony-BMG, Telkom Indonesia, Siemens, the BBC, The Financial Times, Ogilvy and the European Commission, compared data to oil. In his presentation on The Reset of Marketing, Branding and Media the next 5 years, he said data would be more powerful than oil. “The future of the economy is data,” Leonhard opined. He added that the future of marketing lay in recurring data identifying consumer behaviour, but this would need a human interface to humanise the data so that it became meaningful information. “I call it humanrithm. We in the creative business use big data in a meaningful way and use it for marketing strategy,” he said. On another note, he also shared that consumer behaviour is influenced by technology. “We have this transformation from digitalisation, the transition of consumers that is moving from product to service to experience. “All brands have a problem with this, as they want to sell a product such as a publisher wanting to sell a book,” he said.
THE prevalence of advertising via social media has made it more difficult for brands to market themselves differently - and this is because corporates fail to embrace the interactivity concept behind the online medium, said The Future Agency chief executive officer and futurist Gerd Leonhard. He noted that many marketers tend to forget social media is foremost interaction before the action. “It is not about selling but rather a process of engaging. Most brands find it hard to understand why they should do this.” In an interview, he said proper engagement will lead to more people liking the brand and product. So, marketers should move forward to make brands more human at an emotional level. “We are marketing with, not at people. In the future, everybody will be connected on mobiles and we don’t need marketing strategies that interrupt us. Social media is now a strategy for marketers to open up and listen to consumers. It is now a place for brands to earn reputation.”
MALAYSIA is on its way to become a digital country by 2020. The Futures Agency chief executive officer and futurist Gerd Leonhard said: “Malaysia is at the tipping point of digital marketing. Development will come twice or at an even more rapid pace here.”
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