Innovation is Changing Branding Today and the Future!
We are today collecting gigabytes of data on every person alive everywhere. Cameras are identifying our license plates at 70 mph, intersection cameras identify you in your car every time you pass through, and your smartphone is recording your text messages, sending updates on your whereabouts, keeping track of your talking habits; whom you call, when, how often, and for long.
And, now through what is called Bio-Security, every smartphone can collect your thumb print and facial recognition in a huge database, just so you can unlock your smartphone more easily.
Quick question… What if there was one database that contained your detailed facial recognition, thumb print, telephone number, address, app likes and dislikes, the amount you use them, your calling habits, and exact location at any given moment. One that even knew where you live based on the time your smartphone is inactive. And, it contained all this information on more than 3m people. What would that be worth!
Product companies in the past would create structured mass market advertising campaigns that all had a beginning and an end.. They would spend millions of dollars to send the same ad message to 1,000,000+ people hoping that a few were actually prospects at that given moment.
They would develop the campaign, launch the campaign, monitor the campaign, end the campaign, and analyze the results of the campaign.
Those days are gone!
Now, all these same companies are required to be everywhere all of the time to capture their prospects attention, which is an impossible task.
By using A.I. (artificial Intelligence), Deep Learning, and tracking your movements between all on-line platforms, these same companies can now create a million individual campaigns that run simultaneously and continuously to each specifically targeted customer. We have gone from Mass-Marketing to Micro-Marketing.
Their campaigns are no longer created for the masses, but to you alone, individually designed completely to your likes and dislikes. Deep Learning Bots can comb through millions of data points and connect your dots, learn your patterns, understand your habits, trace your movements to the point they know where in the buying cycle you are and precisely where you last left off.
And, know exactly what to sell you, where to sell it to you, and exactly when, and for how much.
Soon, a company like Proctor and Gamble, can see that you have purchased their Product X, every other week for the last six months from Store Y and determine it has been 2 1/2 weeks since your last purchase, then through A.I. send you a text reminding you to purchase their Product X as you are nearly out, when you are within 3 miles of Store Y.
This is not a script for a new movie like Minority Report. This is actually existing, today.
My own chat bot conversations with my prospects made me realize there was a psychological category of people who bought products only when they thought they were getting a “deal”. It was about one in ten where discount would motivate them to buy.
Rather than offer a discount or coupon to the other 90%+ who are willing to pay full price, I created a hidden page with a 10% Discount Coupon. No one has access to the coupon from a click or men, the only way to get it… ask my chatbot. The chatbot will return a link only the prospect who required a discount coupon and nearly 100% of those prospects purchased within 8 minutes, contributing to my overall 30% increase in revenue every month for a year now.
When I was in Dubai going through customs, all I had to do is look into the camera and instantly a green light lit, and the gate opened for me to enter their country.
In China today, the citizens are being required to have their faces photographed for travel and security purposes, or say they are told.
Recently, at a concert with more than 60,000 people in attendance, a security camera picked just one face out of the crowd, the face of a criminal. Policemen walked up behind the concert goer, placed his hands in handcuffs, and quietly walked him out of the arena.
The future trends is simply… MORE. More of all of this. More information collected, more A.I. chatbots, more data-mining bots, more machine learning, more targeted individual identification, and more of your habits and patterns catalogued, stored, and used to sell you.
All of this is actually taking place today behind our backs and no one is even aware it exists.
Lastly, there also is a trend where the more evasive technology becomes in our lives the more we push back. Many Fortune 500 companies have found that as they increase their automation, chatbots, and computer-based customer service, the more their customers are demanding actual human representatives. They are demanding the human connection.
We will continue to see this ongoing struggle between man and machine over the coming years. And, as with all new technology, one will never replace the other. It will become a battle of balance. But where that pendulum lands is still for us to see. The only thing we know for sure is… That this will always remain a struggle.
Here’s are some of the take-aways:
Let me share how, with you.
Lon Safko, Bestselling Author, Speaker, & Trainer.