Marketing is undergoing a transformation.
Marketing is being re-invented.
The so-called “22 immutable laws of marketing” have mutated. They’ve been broken. Now they are being repealed.
Bold moves by companies such as Samsung, Apple, Google, Hyundai, Adidas, JetBlue and McDonald’s — to name some of the most visible ones — are re-writing the marketing playbook.
The innovation is coming from the corporate side and from bold thinkers . To name just a few — Douglas Holt, Marc Gobé, Gerald Zaltman, Larry Light, Joan Kiddon, Joseph Plummer, Jae Hang Park. There are many others. We can all learn from the example of Philip Kotler, the father of modern marketing, who is continually seeking a better framework for marketing as the world evolves (Marketing 3.0 is his newest explanation of this third wave in reinventing marketing).
The future of marketing is built on a better understanding of how the human mind works. The future of marketing is based on new learning into the sheer power of metaphors and story telling to shape the very way we understand the world. It is based on the breakthroughs being made by neurologists who are able to study our brains in ways unimaginable 15 years ago. fMRI and other technology are opening new windows into our brain, giving us a better view of what happens inside. This is not a tale from a Avatar or some other 3-D science fiction film. It is well-known from the work of Steven Pinker, Oliver Sacks and others.
The future of marketing is based on the simple principle of co-creation. That means the consumer is central to the process. It recognizes the essential role consumers have in co-creating meaning and value.
The future of marketing includes that essential 4th dimension — time. It will no longer look at the world in a 2 x 2 grid. It is flexible, dynamic. New marketing will replace old marketing the way that steel replaced iron; the way that LCD flat screen TVs replaced vacuum tube TVs
The future of marketing embraces technology as a strategy, not just an execution. The new new thing –QR codes, social media, hyperlocal marketing — the technologies of the moment will continuously change. Marketing will break down the internal silos that agencies & corporations erect around the digital world of online and mobile to separate them from the analog world of TV and Radio. The future of marketing looks at the ways a story jumps from one medium to another, the way a book becomes a movie becomes a Broadway musical becomes a video game becomes a theme park attraction becomes an app, becomes an iPad iBook, becomes….
The past of marketing is static (position), focused on the competitor (different) and not the consumer, reductive, minimalist, simplistic to the point of trying to summarize everything into a single word.
The future of marketing is narrative. It will:
A) Tap the power of metaphor and story telling
C) Be alive, living in time
E) Embrace new technology to tell stories in new ways
1/1/11 is the start of the Decade of Narrative Marketing. The future is an open book. Go ahead, write the next chapter.