The World Economic Forum published an article in January about The Fourth Industrial Revolution. This revolution is characterised by the technological increase in several areas, blurring the boundaries between digital, physical and biological. For examples, According to JP Rangaswami the devices will become embedded more and more in our bodies. It will generate a lot of data.
How digital marketing relate to this?
First: For Laurel Papworth “Every part of our life will be quantifiable”. These devices in our bodies or in our houses will generate data that can be used to generate specific ads. It is a segmentation not for small groups, but will almost turn the marketing in one-to-one with really personalize ads. New strategies will emerge from that.
Second: With a lot of devices, customers will make decisions faster and better. The customer need have easy access to your brand and find good recommendations of other people. If the client does not find your brand in some seconds and can not have the necessary information you can lose the sale.
Third: Marketing will become more and more interconnected with other parts of business. For example, with a lot of data, the companies will have access to more accurate forecasts and marketing will need share more information with operation and logistics departments. Furthermore, to extract this information marketing will need be in constant talk with IT department. The fourth industrial revolution and big data will impact more than marketing, according to Andrew McAfee and Erik Brynjolfsson big data is a management revolution.
Fourth: The experts and leaders of marketing department (and others business areas) will need to create the habit to look constantly at the data and try to find what the data say. Further, leaders need to allow themselves to be overruled by the data. Instincts emerge after we entry many times in contact with some kind of data, why not go directly to the original source?
Great post! I love the idea that 'Every part of our life will be quantifiable', it seems like in the future, individual people will continue to be categorized, with brands and connected technologies running all aspects of their lives. For instance, the growing popularity of the Apple Smart Watch. The Smart watch technology is a great opportunity for marketers to jump on the bandwagon and create technology that integrates a brand in completely with a person’s life. Showing better sales than the ipad or iphone in some quarters, (http://www.phonearena.com/news/Cook-Apple-Watch-had-a-better-launch-quarter-than-the-iPhone-and-iPad-did_id71793). This growing network of internet connected items makes me wonder whether we really need to have this much assistance for day to day activities and whether it really benefits our wellbeing to be so dependent on the internet for all of our functioning. What do you think about products such as the Apple Smart Watch?
ReplyDeleteGreat read!
Maddie
Hello, Madeline.
DeleteIs really interesting thinking in the smart watch and how the marketers can use it to integrate the brand with a person's life. It is true that with more and more devices connected on internet this link between brands and people will be stronger.
I like a lot the possibility of we can solve any problem and prevent some ones using a device like Smart Watch (look the health functions). It probably will improve a lot our quality of life, however I am afraid about what we will sacrifice to have this facilities, for example, we probably we will have less personal communication between people and absolutely less privacy.
Thank you for your comment!