The four pillars of the new world of marketing
Earlier this week Carolyn Bendall the ANZ’s head of marketing spoke at CMO Disrupt, in this cross posting from ANZ Bluenotes, she discusses whether marketing is more science, art or a combination of the two.
When you look at how the world is changing through technology – and the pace of change – people are now consuming and utilising media, sharing information, making decisions, engaging with brands and purchasing products in ways we never dreamt of 20 years ago.
Gone are the days of product-driven marketing, one way communications where what consumers knew about a product was what we told them, mass-marketing campaigns and the traditional media mix of TV, outdoor, press and radio.
The infiltration of digital technology into every aspect of our lives has changed the way we live forever and created a body of data like nothing before it. The new generation are not just digital natives, they’re data natives and they expect a smart, fully connected world.
Interested in having this assertion backed by some data:
“More people now own a mobile device than a toothbrush.”
‘Gone are the days of product-driven marketing, one way communications where what consumers knew about a product was what we told them’.
Not exactly true, Apple have built not a bad little business through product driven one way communications.
Disruption has become the cliched modern day equivalent of ‘thought leadership’. As per its predecessor the people talking about disruption are about as close to be disruptors as I am to being a rocket science
One can hope and pray that there is a structure or formula etc, but the reality is there are no pillars anymore.
There’s not even a building for pillars to hold up.
Every brand is now a human, and every human is now a brand.
I’d put 1 truth, 2 creativity, 3 altruism and 4 vision before any secondary factors like auto-calculators, touch-points or visual minutia.
As there is no way for skewed coats to see eye to eye with skewed creatives, and there are so few balanced creative strategists around, this craft is destined to be controlled by those currently in primary school, so many of whom will be dualist “creative coats”, devising from the chaos solutions never before imagined.
I like your enthusiasm for marketing Carolyn, but your missing something from your pillars…”Product” – this is especially important given you essential sell credit and can effective destroy lives with interest rates, bankruptcy and fees. As of last year ANZ had record full year profit of $7.3 billion, up 15 per cent on a year ago in 2013. That’s a lot of money your making on the back of other people lives/work. So in essence, you can make the best marketing campaign – but if your product is damaging lives expect to be given very little in return. I believe if ANZ had morals, your market share would actually improve significantly….
“More people now own a mobile device than a toothbrush”
I think this is a stretch … are you sure it’s not that there’s more individual ‘mobile devices’ (in use or not) than individual toothbrushes.
I know this is the case in my HH – 3 toothbrushes (1 per person) but 4 connected devices (ex. laptop)
Some interesting thoughts through this piece, and I think a large bank has some good examples for us all – not about being disruptive because they are the exact opposite of that – but about how to apply new technologies to a highly complex customer offering with multiple touch points.
Equally, the people that succeed in this age of data will not be the ones who try and capture it all – 90% of that data is useless. It’s those that can sift the wheat from the chaff that will make an impact with their data analysis.
The concept of “Disruption” is not new, as it has taken about 25 years to trickle down from it’s first inception by Jean Marie Dru of BDDP Paris.
The banking industry is the least disruptive of all. The wood panels and pinstripes may have gone but the industry, and major players, are the same.
JV
Cannes(d) Laughter may well be Interested in having this assertion backed by some data: [quote] “More people now own a mobile device than a toothbrush.” [unquote]
I am still wondering about its grammatical construction.
It is hardly surprising that a woman who claims to have been a pure math and science girl, whose school friends predicted a career in a white lab coat, should arrive at adulthood with the notion that advertising is more science than art.
The opera is art, but it could never be produced without a lot of scientific and mathematical support, because, in truth, it is a mixture of art and science, as is most theatre, and nearly all film.
Be very careful about quantifying these parts of the whole, because it is easy to quantify math, as it is to estimate the size of science, but art is another matter altogether. The biggest stumbling block for enthusiastic bean counters employed by corporate managements engaging in artistic ventures, is the crippling inability for them to cut and stack art or artistic talent by weight or length.