Marketers may be Overestimating Consumer Interest in AI and NFTs and more – The CMO Whisperer’s Friday Fast Five
Friday Fast Five time. Here are five articles curated for your reading pleasure.
- Marketers may be Overestimating Consumer Interest in AI and NFTs
Source: AdAge
Why you need to read it: Right from the very first line, the article tells you why you need to read this: “Despite what marketers may tend to think, the shiny, new thing isn’t always what consumers want.” I cannot tell you how many times my mind has been blown by reading something that tells me what marketers think vs. what consumers want. No one cares what marketers think. It’s all about the consumer, the buyer and so on. Period.
What you need to learn from it: A survey revealed that two-thirds of marketers are doing cartwheels over AI and the potential it brings, less than 4 in 10 consumers feel the same way. In other words, there is a disconnect, shockingly (sarcasm) between what marketers want and what consumers want. By the way, I am not even including anything on NFTs here. Not sure why that was even referenced. Is anyone even talking about that anymore?
Click here to read the full article.
TL;DR: Marketers need to fight the urge to go too far, too fast down the AI rabbit hole. Yes, it’s a shiny new toy, or tool as our founder John Kearon referred to it but don’t force the use of AI on your consumers.
- Are You a Disruptor or a Destructor? A Complete Guide to Innovation for Today’s Leaders
Source: Entrepreneur
Why you need to read it: Disruptive and destructive innovation are bandied about a lot these days. But rest assured, there is a clear distinction between the two. And understanding these differences is vital when it comes to long-term success and goals.
What you need to learn from it: Disruptive innovation is where a company challenges established industry leaders whereas destructive innovation, which may offer short-term success, refers to technologies or practices that harm or make existing models obsolete without adding significant value to the industry or consumers.
Click here to read the full article.
TL;DR: It’s easy to assume to that ALL innovation is good. It’s not. Far from it. Innovation is only for the good or betterment of everyone if it leads to improvements that benefit many.
- New Gartner Report Challenges Conventional Wisdom on Holiday Marketing
Source: MarTech
Why you need to read it: If you’re a brand that benefits and lives (and dies?) by the holiday shopping season, you need to read this. Any advantage you can get on your competitor is worth investigating.
What you need to learn from it: Given the current economic status around the world, the natural tendency is to market around price. However, marketing built around inclusivity and a brand’s ESG accomplishments can be a differentiator this year, according to the report.
Click here to read the full article.
TL;DR: “With the holiday shopping season gaining steam, many economic indicators suggest marketers should be focusing on price and savings. However, a new Gartner report takes a contrarian view, saying the focus should be on inclusivity and ESG (environmental, social and governance) achievements.”
- How Brands Can Learn to Stop Worrying about Brand Safety and Love the News
Source: AdExchanger
Why you need to read it: Consumers care about news. Legitimate news environments are safe for brands to advertise in, and consumers engage with it.
What you need to learn from it: While the above is true, it is also true that “some advertisers still block all news from their programmatic buys by default, which is why it’s important for media buyers to take a step back and recalibrate their relationships with news publishers,” says Josef Najm, director of programmatic and partnerships at Reuters.
Click here to read the full article.
TL;DR: “I’d urge the CMO of any business to tell their teams and their agencies, ‘Hey, it’s OK to run on the news – and let’s find a way to do it.’ Media planners need to hear this being said out loud.:
- More than the Real Thing: Chinese Consumers Want Emotion and Culture, not just Drinks – Coca-Cola
Source: FoodNavigator
Why you need to read it: For the very simple fact that consumers, no matter where they happen to reside in the world, are human beings. I say that very obviously because we humans respond to emotion. The most effective ads boost sales and drive long-term growth. They do it by making people feel more – building positive associations with a recognizable brand.
What you need to learn from it: “Today’s consumers want more than just a physical experience regarding things like ingredients and functionality,” said Amy Song, Senior Director of Coca-Cola APAC R&D Center. She added that consumers also want an emotional connection when buying an item.
Click here to read the full article.
TL;DR: “Product innovation, technology and data alone are no longer sufficient to make strides in the China beverage sector with consumers increasingly wanting ‘emotion and culture’ alongside their drinks, claims Coca-Cola.”
I’ll let you in on a little secret. The more people feel, the more they buy. It’s true. And we have the data to back it up.
Click below to see how our Test Your Ad platform helps you predict and improve the commercial impact of your advertising by leveraging the power of emotion.