Mindshare’s Joseph Maceda shares four principles that will help your brand stand out on the digital map.
Brands need to focus on four key principles as they navigate the ever-evolving world of digital marketing, says Mindshare Global Chief Innovation Officer Joseph Maceda. According to him, these four principles are: “Digital saves the physical world, data disruption, the shift from consumption to participation, and transformative commerce.”
Maceda elaborated on each of the four principles during his keynote at the e4m TechManch 2022 conference. The subject of his keynote was “Mapping the New Digital Marketing Shift”. Maceda said marketers today face multiple challenges, including cookie crumbling, brand safety, and mislabeling.
While noting that the metaverse is the biggest talking point in the industry today, Maceda added that the rhetoric around it is herring. “Actually, it looks like it’s part of a fantasy map where heroes get caught up in unnecessary side quests and sort of offshoots that aren’t part of the core story.
The Metaverse is investing heavily in the digital technology and infrastructure needed to power the next version of the web, he said. “Things like cryptography, VR/AR, 5G, and even quantum computing are what make up magical systems, something of the future we are heading towards,” he added.
Mindshare executives said brands need to take the best of the digital world and bring it to the physical world. “I think there are four new principles that brands need to embrace. Digital will save the physical world, data will be destroyed, there will be a shift from consumption to participation, and finally commerce will transform. There are four new fundamental realities that we must grapple with to succeed and stand out in this new digital map,” he said.
Digital saves the real world
Maceda said the Metaverse will be the deepest of the multiple layers of reality that consumers engage with. He adds that these layers of reality can range from completely real, like hiking through a forest, to completely virtual, like hiking through a virtual forest on your phone. “Brands need to find out which of all these layers can deliver the most value to the consumer, and the layers between the physical and digital worlds are merging. It has the highest potential.
Maceda said the Sick Beats innovation by sound company Woojer is a great example of embracing digital technology and combining it with physical needs to create a better future. Woojer created the world’s first music-assisted airway clearance vest for Cystic Fibrosis (CF).
According to Maceda, the second new reality brands need to embrace is data chaos. “Consumer interest in data privacy has grown significantly over the years as consumers themselves are becoming more knowledgeable and adept at using data to understand targeted marketing techniques.” he said.
He also said many consumers who partner with brands are taking the data chaos into their own hands. Allowing women to opt out of baby ads.
“Through this program called #UnsilenceTheConversation, they have simply created a web browser extension that will allow you to opt out of anything related to baby advertising, allowing you to opt out of targeted advertising after birth. I was able to ease my personal grief by not having to be exposed.I lost.”
From consumption to participation
Despite content platforms pouring billions of dollars into creating original content for digital native audiences, viewers are becoming part of the show rather than passively immersed in it. Migration is underway.
Maceda said the South Korean show “Squid Game” will be Netflix’s biggest hit of 2021. He tripled the number of hours he watched the show, which became the next biggest hit on his streaming platform. To engage with its fans, the video streaming giant has come up with a number of consumer connectivity initiatives.
“What has been fascinating is that Netflix has created all sorts of its own creator economy between memes and filters. Squid Game-inspired TikTok dressed like a Squid Game character for Halloween. It spread like wildfire with people uploading it.There was a lot of very enjoyable content, but all very dark and very violent metaphors of the oppressive power that the rich can have over society.” he pointed out.
Squid Game, he said, is the perfect representation of a new reality where professionally-produced and creator-driven content converge. “Nowadays, this means a lot because brands market themselves, but it means even more about how and what they engage with consumers.”
Maceda said media and commerce are converging rapidly. “Commerce was the fastest-growing segment of the media ecosystem in 2021. Consumers are choosing click-and-collect, one-click on Instagram, buy now, pay later, or the biggest shopping opportunity to date. Because we have new opportunities to buy things in different ways, such as type streaming,” he added.
Maceda said that in an era where media drives commerce, the question is how brands can use commerce not only to find potential audiences, but to transform their businesses. “Brands embracing new commerce models are beginning to realize that it’s not just about driving more purchases, it’s about transforming the way they do business,” he said.
Maceda believes brands can create utopias by identifying their audience’s most important needs and how they can impact them by taking the wonders of the digital world and applying them concretely to the real world. Second, brands should establish their own data ethics approach. Third, as consumption shifts to participation, brands will need to figure out how to engage consumers. Fourth, brands need to operationalize their commerce approach based on their business foundations.
“Those are four ways to find utopia for brands, but the reality is that there are probably hundreds or thousands of different ways to get there. Think about all the magic that exists, and always remember that trends and new technologies are at your fingertips, and that those who don’t believe in magic will never find it. Embracing is a surefire way to ensure you find your own media utopia.
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