Applied Creativity: Data,Tech and Ideas — The Consumer Viewpoint
“ Young consumers born after 1995 are fully entangled in the world wide web, so much so that they probably couldn’t dissociate themselves from this way of living. For brands, ensuring your tech, data, insight, innovation (or whatever you want to call it) remains discrete, frictionless and useful will be the determining factor for future loyalty.”
I urge everybody to look through this Cannes Lions International Festival of Creativity article that makes the relationship between Tech,Data & Ideas. In this article, it’s evident that AI is going to be huge for marketers to examine & organize the vast amounts of data at their disposal. “ Knowledge mining” seems to be on a resurgence thanks to the rise in machine learning that will allow for AI to “extract insights, patterns & scale relationships”. An example of this would be IBM’s new tool, Advertising Accelerator, that predicts which creative elements will drive engagement in specific campaigns.
I think that this is interesting in with the Millennial cohort for 3 reasons;
1) Millennials express ‘Experience’ as one of the biggest attributors to any relationship that they may identify with a Brand. This is thanks to the web, where 75% of Millennials do ‘extensive research’ before making a purchasing decision.
2) Millennials are ‘social’ in the sense that we are always attached to some sort of Media medium whether it be Snapchat, Instagram or Facebook. We are 81% more likely than our partner cohorts to post an online review about our experience & the product.
3) 31% of Millennials say the opportunity to give feedback and influence future offerings is important to them. In part, this is because Millennials are improvement-oriented and open to innovation: 64 percent report that their day-to-day behavior is driven by a desire to find new and better ways of doing things.
It’s extremely interesting to see the rise of AI being used to market more efficiently and intelligently to my cohort. I urge that this tech is used to engage ‘Artful Intelligence’ that promotes creativity but also keeps messaging ‘human’. In the age of Tech, Robots are unable to create and build relationships (yet?) but data can be leveraged to create stronger bonds with consumers that ultimately monetize not the business but the BRAND.
I wish to offer another small amount of bites to chew on, my latter point of monetizing the Brand vs the Business, may be a bit controversial but I will go ahead and offer my rational. With the above statistics in mind, it is evident that in order to garner the cash of Millennials a Brand must be able to become intimate. In order for that to happen, there is ONE rule I urge you follow & a rule that this new data can help with — your archetypes.
Getting creative & using Knowledge mining to utilize data, Brands are able to not only find their MVP but on a Macro-level find their base. These archetypes are as follows: fulfillment, identity, enhancement, ritual, nostalgia, and indulgence. We can identify these as the need states of our Customers, as soon as we know this, we know how to utilize data to market the Brand.