Studying the impact of innovation on business and society

Marketing Directo: Brian Solis on the New 4 P’s of Marketing

by Marketing Directo (excerpt)

This recent article from Marketing Directo recaps The Future of Advertising 2017, an international advertising conference which took place on September 28 in the Dominican Republic. The article highlights a keynote speech by Brian Solis, in which he outlined the new ‘4 P’s’ of marketing: People, purpose, promise and personalization.

From the article (translated):

Brian Solís , principal analyst at the Altimeter Group, was in charge of opening the day, focusing on the future of the experience in the retail sector in the era of digital Darwinism .

“Everything is changing and this is something that affects all the companies and markets of the world”, has begun. He pointed out to the audience that in this disruptive era in which we are immersed where innovation stands as the fundamental pillar, “we have to stop thinking that digital is something that will go out of style”.

The future is one of the concepts we pay our most attention to. But “to predict the future, the first thing we must do is change our way of thinking, ” and determine what can be done differently.

“All innovations begin when we see things differently and make people think differently.” A reflection on which has qualified that we need to “learn to unlearn” , before this new wave of creativity, new technologies and social media.

He stressed that one of the main problems of the sector is that we remain anchored in a past thought . “Now it’s about offering experiences and bringing people together .” This must be the main objective of the technology.

” Technology must be inclusive, it must be for people and bring it together”, and more so if we take into account that new consumers “have become too demanding and narcissistic”. Feelings that have derived from the fact that technology makes them feel the most important .

This means that, if the demands of a consumer are not satisfied quickly and accurately, “your company will have lost the opportunity” . “If it makes people wait with their responses to consumers, then they have placed themselves on the opposite side of innovation”.

” Innovation is all that work we do based on aspirations and expectations instead of making them conform to our expectations, assumptions and success metrics.”

You have to offer experiences to consumers since these are what make people feel alive. “In the end it’s all about how we make them feel.”

With this background scenario we take as a reference the data offered by Capgemini : 75% of senior executives believe that companies should have a culture of innovation , but only 37% of employees feel that this materializes.

This is why company strategies must now focus on the new 4P’s: “people, purpose, personalization and promise” .

You have to get the innovation to run throughout the company and “reach the employees.” “We have to give them a purpose in the company and encourage them to seek innovation.”

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