Dial into the next decade’s digital world with foresights from 10-year-olds
In her Meltwater webinar presented recently, IAB CEO Paula Hulley recapped the main points of her IAB Digital Summit 2019 presentation, with extra tips and actionable insights from 10-year-olds, as well as the IAB Direct Brand Report on the current consumer economy.
Hulley said that some call it the ‘consumer economy’ as it’s about ensuring brands have the best tools in their marketing toolkit to make those emotional connections, and also to take the relationship further in sharing and solving some of those consumers’ problems.
Lessons from 10-year-olds: Getting ready for the digital world of next decade
What do you think the world will be like in a decade’s time?
I think it will change, but I don’t think it will change a lot. I think phones will be much more advanced. The internet will be a lot easier to use and everything will work much quicker. – Florence, 10 years old
Putting this into perspective for business, Hulley said to think of how fast we already work, and imagine that just getting faster and faster in future. How do we equip ourselves to move at the speed of culture, and also align that with our brand strategy?
What new technology do you wish existed?
I think a new invention would be if you had a printer, and printed out a piece of paper with, let’s say – a piece of toast on it, you put that through the printer and then you get the food – that would be cool. – Meliz, 10 years old
Hulley said the 3D-printing opportunity is already changing the market under our feet. We can already ‘print food’, though not for mass markets just yet.
For business, this offers an amazing opportunity, especially from a marketing and branding experience perspective.
There’s no denying the general business and marketing realms are merging closer than before in solving challenges for good, whether in your community, for your country or the broader continent.
What do you think the world will be like in 2029?
Instead of using coal to make electricity, we will use renewables, like wind, the Sun, and also water. Also all electronics could be controlled by voice. Instead of having to turn it on, you could say “Something turn on”. – Enoch, 10 years old
Hulley said this specific prediction is bang on the money. First, there’s the fact that having connected homes and smart devices costs less now than it did five years ago, so the cost will likely reduce further as the technology becomes more available.
The opportunity for marketers and brands is to get inside people’s lives and solve their problems from the moment they wake up.
When it comes to voice, Hulley added that half of all search is expected to be conducted by voice in 2022, so you’re missing a trick if you think this is just a gimmick.
More tech means more bombardment for consumers, so the more your brand aims to simplify how they live their life in the digital economy, the more you’ll be boosting brand experience best practice.
Business-as-unusual: Idea to product virtually overnight
Hulley noted that the Wired feature highlights Google Creative Lab director Iain Tait’s point that we’re now at a stage where digital already runs through “almost everything”, which is why it’s instrumental in how the IAB supports agencies, publishers and brands.
Looking ahead at the digital economy, it’s also clear that the ‘business of business’ is changing, and business as usual is no longer an option, due to the availability of constantly new technology for now.
Today, we’re in the business where value is created in ‘the new now’ – it’s a hyper-available, ‘stack-you-own-supply-chain’ way of creating value, where ideas can become products virtually (no pun intended) overnight.
Hulley pointed out that you don’t need to go it alone, as this new world has been intensively researched by the IAB globally.
By keeping these points in mind, Hulley said digitally native, disruptive brands are carving new paths to value, unearthing new ways of marketing, creating new ways of selling and unveiling new ways of competing in the current consumer economy.
Source: Bizcommunity
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