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DISRUPTION HAS HAPPENED BEFORE

12 Jun

disruption is nothing new

Wow what an amazing world we now live in. Technology rules … OK!

Disruption like fake news is a hot cliche. Could be the hottest right now.

Disruption describes new technologies and new business models that disrupt the current modelsprocesses and accepted standards of business.

  • Taxis were disrupted by UBER
  • Graphic design was disrupted by Adobe
  • Hotels/accomodation was disrupted by AirBnB
  • Commercial real estate was disrupted by WeWork
  • Photography and processing was disrupted by mobile phones + photoshop

It’s nothing new though. As the above photo depicts horses and carriages with a trolley car and next to that an early motor car. That was a disruption. But they didn’t have that neat phrase to label things.

In business we must track trends or we’ll be left behind holding the box brownie.

brownie_1

The importance of data is ‘yuge!’

10 Jun

Here’s a story I found on a blog I subscribe to. It’s about the people-based research and targeting platform developed by Merkle which has ‘tagged each person with digital IDs with hundreds and sometimes over 1,000 attributes. At this point, the total database covers 242 million people and counting.’

This supposes that people like targeted advertising and are OK with ‘a holistic understanding of people’s behaviors and motivations.’

‘“We’re undertaking a transformation as a global enterprise,” said Dentsu Aegis Network Americas CEO Nigel Morris.’

big brother

It looks like George Orwell was right but he just got the era wrong.

OK – I like a targeted ad as much as the next person but I already bought a BBQ!

https://www.mediapost.com/publications/article/302542/census-advertising-dentsu-rolls-out-new-platform.html

This why we need special rooms to be innovative

10 Jun

innovation cave

One of the myths around innovation is that you need some kind of ‘special conditions’ to bring out the creative in you. See the Google workplace and just about every ad agency in the known universe.

I love these rooms with their funny pics and pinball machines and pool tables.

And I like how I get to wear my jeans – wow I feel so free!

Hang on there … I’ve got an idea coming. Here it is.

No wait. It’s stopped somewhere up the line to get some new passengers on board.

The names of those passengers are Mr Tired, Ms Bored, Mr Lazy and the Count of no account.

We’re all creative and we don’t need any special conditions to think of new ways. Just some energy and imagination.

Two surprising strategies for effective innovation — TED Blog

10 Jun

Picture this: Three kids are given a LEGO set with the pieces to build a fire department. All of them want to build as many new toys as possible. The first kid goes straight for the easy wins. He puts a tiny red hat on a tiny minifig: presto, a firefighter! In this way, he…

via Two surprising strategies for effective innovation — TED Blog

The Niche

10 Jun

There are a lot of good reasons to service a narrow market aka a niche.

niche

Here’s some info I found on Quora.

Niche Marketing

If you try to target all markets you will be in big trouble, because you’ll find yourself surrounded by a load of competition and it will be hard to showcase your unique value proposition.

A rule of thumb is to start narrow and then grow wider.

Start talking to one group of your audience and be specific about their needs and desires so that you can attend to them with your product and services.

Benefits of niche marketing:

  1. Less competitive – a small market means less competition. Carrying out good research across a small market makes it easier to find out the strengths and weaknesses of your competition and makes your product or service better.
  2. More affordable – you won’t be spending money on a broad target group, so you won’t waste money on advertising.
  3. Customers are more loyal – you will be able to nurture, teach, and understand them much better.
  4. Audience is easier to target – you know where they hang out and what their interests are, which makes it easier to target and offer them your solution.
  5. Focused – trying to offer different services for each market can be inefficient, whereas having one nice one will help you to be much more efficient and focused on one single market.

All you have to do is find yours.

Source: https://www.quora.com/What-are-the-upcoming-digital-marketing-trends

 

Education disrupted

7 Jun

education and technology

An interesting article from the ‘not failing’ New York Times about how the tech billionaires are making fore-roads into schools with innovation grants and other funding and the questions around who is profiting the most. In an era that promises to automate many jobs and where industries are either disappearing or being reinvented it makes for interesting reading.

For those of you that still read …

https://www.nytimes.com/2017/06/06/technology/tech-billionaires-education-zuckerberg-facebook-hastings.html?_r=0

Image via: edtechreview.in

The newer consumer decision journey

27 May

The consumer decision journey traditional

According to McKinsey, the way consumers purchase and the journey they travel to get to that purchase has changed. The traditional model (above) suggests that the process is fairly uncomplicated from awareness of a need > to familiarity with a range of solutions > to the consideration stage > next to purchase and finally loyalty (we hope.)

The consumer decision journey

The newer consumer decision journey model describes a more circuitous approach which fits with the digital age where research and comparison shopping is far easier and online reviews can make or break a product/brand. It also looks at buyer perception of brands which in itself is no new thing.

This old coke ad is all about building brand perceptions which they do nicely with their image – modern for it’s time.

old coke ad

To quote the authors ‘Our research showed that the proliferation of media and products requires marketers to find new ways to get their brands included in the initial-consideration set that consumers develop as they begin their decision journey. We also found that because of the shift away from one-way communication—from marketers to consumers — toward a two-way conversation, marketers need a more systematic way to satisfy customer demands and manage word-of-mouth.’ (+ online reviews.)

The research, according to the article, identified two different types of customer loyalty, challenging companies to reinvigorate their loyalty programs and the way they manage the customer experience. It also reinforced the importance of aligning all elements of marketing—strategy, spending, channel management, and message—with the journey that consumers undertake when they make purchasing decisions but also of integrating those elements across the organisation.

No more silos!

Source: McKinsey Quarterly

Image

The Fourth Wave

20 May

Digital Age: The Fourth Wave of Technology

How to study

11 May

Recently my son had to study for up coming exams. I realised that he didn’t know where to start. So I put together this simple and practical infographic.

Great thingsto do with just

Pioneers of Digital Influence

13 Apr

The Smart Set

The Smart Set was a magazine that was founded in 1900 for and about New York’s social elite, The magazine evolved into an expression of popular modernism and it’s heyday went from 1913 through 1922.

It had a literary side publishing some of the best authors of the day (including Joyce and Conrad) and gave F. Scott Fitzgerald (The Great Gatsby) his start.

Subtitled “A Magazine of Cleverness” The Smart Set never gave up its aim to entertain, to win a large audience, and to make money through advertising.

Thoroughly modern

The magazine covers (see above) are images depicting modern women. The flappers and ‘it’ girls who made the news and social pages of the day through there ‘shocking’ displays that went against the moral norms of the day. They smoked and drank and used colourful language. In that way they were liberated some might argue. But that’s not the point.

Digital influencers and advertising dollars

These were the pioneers of today’s online digital influencers who garner huge crowds of followers just by posting a pic or a little message on their instagram pages. They are trend setters (sometimes) or trend followers but they have built a brand image around themselves by understanding what their ‘tribe’ want, need and often just aspire to.

And when they attract large numbers of followers, that translates into advertising dollars.

So things haven’t changed that much – just the mediums.

and the hipsters just look like Ned Kelly.