Comfortably numb inside the Golden Cage?

The Golden Cage? Probably yes.

Intrusion capitalism paves the way for what has been called the ‘ convenience economy ‘. And like billions around the world, we are almost comatosed into not only acceptance but to dig deep and stay there. The numbness of convenience, shall we say? And apart from the occasional murmur or a sporadic protest, life goes on.

We don’t have to go very far but look at a few examples. Let’s begin with one of the usual suspects-brands like Amazon, Amazon Prime and their accompanying eco system that touches the lives of millions of customers around the world every day. For about US$ 10 a month( if you are in the US), you get a vast pool of content, priority door step delivery at the most economical value for zillions of products. And with Alexa(another Amazon wonder) taking root as a serious tool for search and e commerce, the cesspool of dependence has only gone deeper and broader. Since there is no better reason( or a better alternative by far), we as customers are happy to be remain comfortably domiciled.

With 2.2 billion users every day around the world, Facebook is a monster drug(combining its repertoire of Whats App, Instagram users) and there is no saturation in sight as the time spent on these platforms seem to be only increasing. Data theft, brand safety, privacy intrusions etc have not stopped the eccentric growth of this juggernaut. Sometime back, the powers that be at Facebook actually mentioned that they are addressing the privacy and data theft concerns and they are prepared for a 95% success. Very recently, under pressure from several quarters, the commitment went up to 99%!!! It’s akin to an airline saying that we are 99% sure of our landings. 1% can be seriously debilitating and you don’t have to look further than the New Zealand shooting which went live to understand what I am trying to say. But, just like the case of Amazon, there is no mass exodus. On the contrary, the clamour to get in is only increasing. The absence of a viable, palatable alternative definitely helps the cause. People are staying put!


As Steven Van Belleghem espouses in his book Automation, AI and the Customer Experience , just as there is a mandatory audit of all corporations’ financial statements both internally & externally, there has to be a regulation in place calling for ‘ algorithm transparency ‘. Because, presently only the outcomes are understandable while there is no clarity on the inputs- especially the bias and the prejudice that gets fed into the codes to manipulate outcomes. I think this is a clarion call for a basic ‘ code of conduct ‘ and the earlier it gets put into place, surveillance capitalism will have some guard rails.

Till then, the (algo)rithm is going to get you! And it’s quite possible that you go blue in the Face(book).

ENDS

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Is true talent shying away from advertising?

It’s episode one of the cult classic Mad Men series and ad-man Don Draper in the climax reveals the campaign idea for Lucky Strike cigarettes ” It’s toasted “. A scene that captured attention and sparked the show’s runaway success. It’s toasted was also a real tagline for Lucky Strike cigarettes, adopted by the brand way back in 1917.

Those were the heady days of advertising– an eclectic mix of craziness, Machiavellian egos, cult personalities, big ideas, mind numbing creative campaigns, wild parties, rock and roll, high profit margins(15% commission days)….it goes on. Little wonder it was the industry that a lot of talent aspired to get into. Made for good conversation piece.

The times they have a changed. Advertising as an industry is no longer the flavour of the season when it comes to attracting top talent. This inspite of being a 560Billion US$ industry worldwide in 2019 and growing over 4% compared to the previous year with N America and Asia Pacific reflecting the maximum growth.

What could have happened especially over the last decade and a half? Let’s examine a few factors:

  • the risk appetite for taking up and executing ‘ big ideas ‘ within the agency set up seems to be on the wane. The increasing role of the CFO in marketing and advertising decisions and thereby ROI first always could be a strong influencing factor..
  • the big shift has happened from ‘ gut instinct ‘ to ‘ data precinct ‘ when it comes to execution of campaigns. Freewheeling thinking seem to have taken a backseat
  • young talent do not get a ‘ sense of self ‘- seniority still upends merit when it comes to prized, exciting projects- if you don’t want us, we don’t want you seems to be the thinking
  • with profit margins in the advertising industry shrinking, remuneration and salaries have taken a beating. Talent is seeking alternate, better paying professions
  • the average tenure of the CMO & Brand Manager has come down drastically. Why stick your neck out when going through the motions will do nicely. The Domino effect is reflected in the freedom(or the lack of it) given to the agency- legacy thinking dominates, not exactly a motivation for talent craving to find their own expression
  • start ups with sizeable venture capital funding have mushroomed all over. They are dabbling in hitherto unexplored territories and using cutting edge technology to harness market potential and become game changers. The natural tendency for talent is to move to areas that are changing, future ready and dynamic
  • alternate,fast growing and better paying professions like entertainment, stand up, v logging, blogging, music etc seems to have taken the sheen away from advertising for the wannabes
  • Digital proliferation and the quest for entrepreneurship are driving many to find their feet and make their own dents in the universe
  • The Big 5 of Consulting are not thinking like the Big 6 of Advertising while clearly trespassing into the domain. New entrants are bringing in new thinking, new possibilities- talent will have to realign

Clearly the advertising industry of the future(if it remains to be called that) and the talent that moves there will certainly not be a thing of the past. When change is the only constant, an industry remaining constant without change is not an attraction. As an US$560billion industry, it has enough muscle to bounce back(as long it does not rely on muscle memory). All the die harders(Bruce included) are willing and waiting!

ENDS

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Marketing is having a Listening Problem!

Is Marketing having a Listening Problem?
Yes, you heard that right. Marketing has a listening problem…definitely looks like- but the problem isn’t a matter of not hearing the voice of the customer. The problem is understanding what all the noise actually means.
An unintentional tone-deafness has led marketers to realise that they are not just struggling to aggregate the right data or struggling to identify the moments of opportunity to deliver exceptional experiences to their customers. Marketers admit that the biggest challenge the organisation faces while working to develop lasting customer relationships is actually remembering the relationship itself and not solely focusing on getting campaigns out the door.
 
Organisations have settled for passive hearing instead of active listening.
When it comes to aggregating the true voice of the customer, many marketers continue to rely on passive channels bringing in reactionary signals intentionally sent to the organisation. This leaves little opportunity to aggregate, let alone understand, real-time behaviours and cues being left behind by the customer across the omni-channel landscape. Consider where marketers believe insights, cues and indicators are being left: Email, Social, Sales Rep Interactions, Forms, Service & Support. While this list seems reasonable and an appropriate collection of customer signal sources, when sorted into categories of active, realtime, customer-driven signals versus post-engagement, reactionary or company-controlled environments, the picture of where marketers listen for signals begins to point to channels of known, structured comfort.
Where do customers actually leave cues?
Not in the known, structured comfort but in places like Social Media, User Generated Content, IoT Sensors, Chatbot sessions, Mobile Device detection etc
Data doubts are holding back advancement of the omni-channel experience. 
Without question, marketing has spent the past decade (or more) actively investing in expanding the omni-channel toolkit, identifying new ways to reach and engage with the connected customer. Each experience advancement heightens the need for actionable insights and a clear signal based on customer voice and data. But few marketers feel they are able to unlock the opportunity in the channels and the data already in use. This doubt is contributing to a hesitancy to expand and further explore what is new in omni-channel engagement.
Getting small could get us back to the customer.
 
The criticality of small data sits with the insights that reveal the “why” – why is the customer here today, why are they searching, why are the buying, why are they NOT buying? 
Marketers are waiting for complaints or opportunities to improve experiences through answering issues or questions rather than leveraging more complex data to proactively meet the customer with experiences that add value and delight. But marketers are also looking to get a better view of what the customer actually wants. Marketers need to understand the “why.”
Are they most prepared to take advantage of small data to turn noise into signals from the customer. Marketers are also confident they will finally reach the “why” behind customer’s actions and behaviours.
“Why” is also fuelling the marketer’s aspirations. When you try to identify brands across any industry that customers admired for their ability to deliver on real-time, personalised customer engagements, some key brands consistently rose to the top: Amazon, Apple, Google, Starbucks and Nike. 
What these brands also do well is connect with people and engage with customers like individuals, not just transact with campaigns.The biggest differentiator of these leading brands is their ability to treat every individual like a friend or confidante.The ability to initiate conversations in a manner that reflects the customers needs helps differentiate the brand. In essence, these brands never loose sight of the fact that their customers are core to their business…and that their customers are people first, buyers second.
It is time for marketing to lead the charge to treat people like people. It is time for marketing to champion being human. It sounds fundamental…that our customers are people. But as we have already seen, marketers admit that remembering that the organisation is engaging with people and not just data sets or individual records can be challenging.
The tools and technology are available. The data is abundant. The missing piece has been the voice of the customer. It is time for Marketing to champion the shift back to human…driving profit and opportunity along the way.
ENDS
 
www.groupisd.com/story
 
www.brandknewmag.com

Needed: A Bias for Action!

Needed: A Bias for Action!
A small tweak, with due permission from Issac Newton ” every action has an equal and opposite action “.
We assume that enterprise excellence is something that we can define, analyse, plan for and them maintain in perpetuity. With every turn of the business wheel, we fancy that we now understand the One & True Lasting Thing that will distinguish a good idea from a bad one, a winning strategy from a dud.
Indeed, we labour still under the delusion that the key to winning is….the right strategy. But, what we have to learn is that ‘ excellence ‘ is not something that we can ‘ envision ‘ or  ‘ plan ‘ aheadWe create it as we go along. Then blow it up, and start anew.
Simply put, the search for excellence is…never-ending, ever-shifting. How do we ‘stick to our knitting‘ when one form of ‘knitting‘ after another unravels? You are sprinting, only to be standing in the same place.
The absence of a bias for action remains the biggest problem for large organisations. They simply Think too much. Plan too much. Meet too much. And accomplish too little.
It is an Age of Perpetual and Accelerating Transience. ” Permanence ” is a myth, it is dead. All the basic principles of business are up for grabs. We have got to play as it lays. We’ve got to make it up as we go along.
A little bit of re-emphasizing here: Of course we need Analytics(Desperately). Of course we need some Metrics(Desperately). We need to understand the power of Data(Desperately). But, like All Good Things, ..the ‘ analytics ‘ and ‘ abstractions ‘ have come to subsume the Real World of the living, breathing, emotional, complaining customer.
Companies would be extra keen to re invent their way of doing business. And there is an increasing need for a new breed of intellectual capital to make that happen.
At ISD Global we are getting ready to throw our hat in the ring. Are you biased for action?
ENDS
 
 
www.brandknewmag.com
 
www.groupisd.com/story

The CMO’s wish list for 2018: An evolving list…

A lot of us are now on the drawing board mapping out ways to get better in 2018. The fundamentals are not going to change- reach, connect,engage, influence, transact and all of that- but what could we do to better stimulate the landscape as we get set to welcome and take on the New Year. Here’s a partial(and ever evolving list):-

a) A new BHAG of tricks: Nothing brings together a team like a BHAG — a Big Hairy Aggressive Goal —without enough time to deliver it. Backs to the wall brings out the best in us!

b) Am not alluding to the fact of disrespecting the organisation chart but don’t obsess over it on paper.Instead, get the right people, the right goals and vitally, the right trust in place.

c) And for all the HeRoines and HeRoes in HR, recruit with an immersion, not just an interview. Align passion with goals.Basic, yes! Hire marketing leaders with general management skills to ensure results exceed individual contribution.

d) When things are working well, that is the best time to deconstruct your strategy and try new things.

e) If you are in a new category where your customers need a lot of education and support, your organisation needs to be built around education first and products second.

f) Extend your approach to marketing beyond “getting a message out there”; focus on building trust.

g) Don’t overcomplicate marketing. At the end of the day, it’s still marketing: Market Research, Content, Sales enablement, Awareness, Demand generation, Partnerships, Customer retention.Customer advocacy.

h) When you’re the underdog in your industry, hire people with the DNA to creatively leapfrog the competition, not follow the industry norms. You need to have your Purple Cow(fantastic book by Seth Godin).

i) Own marketing across the organisation. Don’t be afraid to integrate marketers into other parts of the organisation, but always have at least a dotted line back to marketing.

j) Don’t be afraid of data and machine learning. The time is now to put all that data to use to solve the problems humans simply can’t and further the industry. The key is to leverage them as part of your team, not external resources. Data is the (K)new oil as they say! The transition even amongst large enterprises hitherto involved ion B 2 B marketing is happening towards a B to I space(Business to Individual).

k) The best marketing combines data and storytelling. It gives you a way to appeal to the emotional side of people. The Unique Feelings Proposition is what brands need to go after!

l) The future of marketing is in the CeX(Customer Experience). Success comes from knowing your consumers’ passions, being innovative in the way you engage them and having a team that collaborates across all aspects of the customer experience delivery. For consumers, the thrill and purpose of experience has replaced the earlier compulsion for ownership. So ride the opportunity.

m) Marketers will know that The Future of Advertising will be a thing of the past. So, re invent, re engineer, re boot and re calibrate! There is a new customer segment: the Customer Segment of 1. Get ready to reach out to them. Address mindsets, not demographics!

n) As we are all agreeing these days, digital is just as much marketing as marketing is digital. So the two roles have combined, and how! It’s a tell, tell, tell, digitell world.

o) Brands and marketers will recognise the immense power of Transparency and how consumers warm up to brands who are not afraid to stand in their own truth. In a Post Truth world, The Future is Transparency!

Marketing has the power, and responsibility, to inspire the whole company, not just customers. Marketing also has the power to be so much more than the “make it pretty” department.It has the imperative to inspire everyone in the company, not just the people who touch the product.So, let us know our rockets from our launch pads.

For inspiring quotes and actionable intelligence from brand owners and marketing champions, please check this link http://groupisd.com/isd-brochure/

ENDS

www.groupisd.com

www.brandknewmag.com

Image Courtsey: Search Engine Journal