Marketing 4.0 | Macro-trends and skills for the future
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We’re living times where the pace of change is accelerating exponentially due to an innovation era that combines different technologies like never. Thinking about the future is indeed a stressful exercise, because it forces us to draw new boundaries, cross the frontier of the unknown. In doing so, we leave the man of action that answers to the moment, to become the man of thought, that should make the right questions. The same will be for marketing, to evolve from a distant and one answer discipline, the “it is marketing”, to become “the can be marketing”, where a questioning attitude should prevail, thus new skills will be needed to be successful. In my presentation, I’ll emphasize that digital transformation will suck every industry in, some faster than other and only the fittest brands and companies, those that are able to evolve, will survive. But, Change is very uncomfortable and sometimes companies need to practice autophagy to innovate and move to the next level. Those who don’t do it, will most likely drown and cease to exist. Gen Z and the following generation, are incredibly different and challenging to understand, but some theories defend that such thing as repeating generation patterns do exist, helping to uncover a bit of what they will be like, as well the world we’ll all live in. I’ll also share a few trends that will impact the way marketing will be done, supported with cases, and will finalize with 7 future work skills that Porto Business School endorses.
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Marketing 4.0 | Macro-trends and skills for the future
- 22. GEN Z mood board GEN Z mood board © Generation Z - The new kids on the block have arrived, by Happen Group Ltd
Editor's Notes
- Porto Business School is in the business of inspiring, guiding and supporting companies and individuals to make change happen. We have the conviction that change is pervasive, and the pace at which it happens is accelerating exponentially. Our responsibility as business school is to be the support system for individuals and organizations to thrive in this environment. We focus on change at two levels: personal development and organizational transformation. Our activities include advanced education at postgraduate level, custom programmes for organisations, corporate partnerships, applied research and consultancy. “Porto Business School aspires to become a global network of lifelong agents of change.” That’s our vision. Based in the city of Porto, Portugal, an important centre of Industry and Entrepreneurship with a global outlook, PBS is a private and autonomous institution belonging to both to the University of Porto and 35 other organizations, most of them multinational companies. PBS was set up 29 years ago by business organizations that needed to develop relevant management skills for their staff, and wanted a more applied approach than the more theoretical education provided by traditional universities. The blend of the Executive pragmatism and experience with the Academic rigor, research and access to leading edge technology, makes us quite unique in the world of business schools. This model gives us a particular ability to unleash the potential of making change happen throughout the lives of individuals or organizations with whom we work.
- Portugal ran on renewable energy alone for 4 straight days in May’16. This 100% was preceded by more than 70 percent of its electricity from renewable sources of energy during the first quarter of 2013, and 63% for all of 2014. Portugal stopped burning coal in 1994.
- Technology fusioning the physical, the digital and the biological worlds, leveraged by an outstanding growth in processing power, storage capacity, the connectivity of billions of devices (be it people or objects) and the massified access to knowledge. Triggering impressive developments on techonologies lilke AI, IoT, Robotics, 3D print, automated cars, nanotech, biotech, materials science, energy storage and quantum computing. According to Philip Kotler Marketing 1.0 = Marketing RACIONAL - Foco nos Produtos Marketing 2.0 = Marketing EMOCIONAL - Foco nos Clientes Marketing 3.0 = Marketing ESPIRITUAL - Foco nos Valores Marketing 4.0 = Marketing PESSOAL – Foco nos Sentimentos
- Empty glass or full glass perspective? Where is all this leading us? ↑ income / quality of life / safety ↑ productivity ↑ life expectancy ↓ Inequality / unemployment / privacy /
- What is the link between these two images? The kodak moment! In ‘75 a guy named Steve Sasson working for Kodak invented the first digital camera. The board said he was crazy for totally misunderstanding the business they’re in… they believed that they were in beusiness of high resolution images, paper and chemicals. That’s what made them the largest company in the photographic industry, by ‘96, with a 28B USD value and 140.000 employees. It went brankrupt in ’12, the same year when was Istagram acquired by facebook, for 1B USD.
- Preserve memories was the business of Kodak. That’s what people were buying… once you offer that in a more convenient form, which means either at a better cost value, a better experience value and a better platform value, the whole value proposition is unbeatable!
- Marketing 1.0 = Marketing RACIONAL - Foco nos Produtos Marketing 2.0 = Marketing EMOCIONAL - Foco nos Clientes Marketing 3.0 = Marketing ESPIRITUAL - Foco nos Valores Marketing 4.0 = Marketing PESSOAL – Foco nos Sentimentos (CRIATIVIDADE)
- Today, over 70% of consumers consult social media before making buying decisions. This will continue to grow! Ove the next decades, social media will escalate even more because for the new generations everything goes online, through a platform. The automated way they interact with mobile devices, even during conversations, pulling videos and images to illustrate their point of view is staggering. For brands to be there, marketing has to be polyglot: adopting a new multimedia communication (where 20’ sometimes is too long to convey a message) and with new a linguistic, with an international / english vocabulary (like, post, share), acronyms (like LOL, LMAO, OMG, WTF, 2nite, F2F) that could fill a dictionary, and finally icons like emojis. This will force companies shifting from using social media as a communication platform, to making it a fundamental part of their business models, facilitating collaboration with consumers, In this new world consumers will play a part designing products and will contribute to brand development, maybe in exchange for rewards or discounts of any other forms of compensation.
- Consumer created and curated content will evolve to be neck to neck with professionally produced news and entertainment. This bring an emergence of individual content producers and publishers for the wider public. The average return on investment for every $1 spent on influencer marketing is $6.85 and rises as high as $11.33 for some sectors. 84% of consumers trust peer recommendations over brand advertising. Celebrities (over 1 million followers or subscribers): think your average Kardashian. Macro-influencers (around 1 million followers or subscribers): a famous gaming vlogger like PewDiePie fits the bill. Middle-influencers (around 100,000 followers or subscribers)*: many beauty bloggers on YouTube are in this category. Micro-influencers (around 10,000 followers or subscribers or less): definitely the biggest influencer category that covers millions of blogs. MICRO INFLUENCERS WITH MEGA INFLUENCE Aggregation of Networks…
- Some prediction say that by 2020, about 50 billion devices will be connected! This will enable brands to personalize and deliver products and services for our every need, that will speed the shift from mass production to mass customization. More and more supply tend to meet demand.
- IoT connected lighting solutions for retail, office and street applications. Built on the Microsoft cloud platform hyper-scale capabilities and world-class skills in our partner ecosystem, these solutions will be designed to enable innovation at a global scale. The first IoT intelligent lighting system developers are working on - is aimed at the grocery and retail industries. The solution helps retailers with consumer segmentation based on shopping behavior and past purchases, real-time instore, personalized marketing promotions and enhanced customer experience through Wi-Fi store blanket and orientation services.
- IoT connected lighting solutions for retail, office and street applications. Built on the Microsoft cloud platform hyper-scale capabilities and world-class skills in our partner ecosystem, these solutions will be designed to enable innovation at a global scale. The first IoT intelligent lighting system developers are working on - is aimed at the grocery and retail industries. The solution helps retailers with consumer segmentation based on shopping behavior and past purchases, real-time instore, personalized marketing promotions and enhanced customer experience through Wi-Fi store blanket and orientation services.
- ”talent will be more important than capital”