Emotion-Tech: Preparing for the Future of Big Data
In 1759, British essayist Samuel Johnson wrote “The trade of advertising is now so near to perfection that it is not easy to propose any improvement.” More than 100 years later, in 1890, advertising was far from perfect, as Philadelphia retailer John Wanamaker noted when he commented “Half the money I spend on advertising is wasted.” Another 100 years later, I noted in my first book Adbashing: Surviving the Attacks on Advertising, “Marketers may be facing shifts in consumer and communications patterns for which there are no precedents and for which they are ill prepared. It is time to take a hard look at our approaches to marketing.” They didn’t, and in 2015 the advertising business is in chaos. Marketers, agencies and media content owners and distributors are confronting historic transformation as:
They didn't, and in 2015 the advertising business is in chaos. Marketers, agencies and media content owners and distributors are confronting historic transformation as:
traditional advertising metrics and currencies lose relevance and value;
technology requires that you commit to new business and organizational models;
new data and performance-based metrics battle for relevance;
marketing and agency executives spend inordinate amounts of their time and resources on never-ending business reviews;
consumer behavior and media consumption patterns are radically shifting;
creativity is being redefined;
management copes with talent development requirements and diversity;
no one seems to have real answers about how future changes will further disrupt their businesses
When TomorrowToday returns post-Labor Day, I'll share insights into what I believe is the single most important advance in technology, big data, marketing and media – an innovative new approach to research and behavioral analytics I describe under the umbrella description EMOTION-TECH. I'll begin publishing details pre Labor Day at TomorrowToday, and introduce my e-mail Emotion-Tech series to MyersBizNet corporate members on September 15. I wish you an enjoyable end-of-summer and please follow all our original thought-leadership content from MediaVillage editors and native content contributors.
Links:
Samuel Johnson
John Wanamaker
Adbashing: Surviving the Attacks on Advertising
The opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaVillage.com / MyersBizNet, Inc. management or associated bloggers.
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Jack Myers
Media Ecologist, Founder: MediaVillage and Advancing Diversity Hall of Honors Jack Myers is a media ecologist and founder of MediaVillage, the media and advertising community’s leading resource for market intelligence, education, business connection…
