Gareth Irvine of OLIVER wrote:
Yes, we all know the classic innovation-or-death case studies, such as Kodak and Blockbuster.st Year Marketing Faculty Challenge: Is marketing an art or a science? A major question with no single correct answer. Innovation is almost always an integral part of long-term product and service evolution strategies, but it is not always the primary requirement for immediate customer retention, acquisition, and P&L growth.
So why is the marketing industry always flying like magpies on a sunny day toward its shiny new innovation object? should we move away from our R&D cycle and return to the areas of personal, process, business and distribution model productivity improvement? Perhaps marketing innovation is the same as business innovation, customer experience, brand In essence, purpose continues to be the north star of +NPS and our collective marketing growth efforts.
As a nation we pride ourselves on our competitive nature and are at times obsessed with international benchmarking.The IMF ranked Ireland thirdrd Of the 192 countries in the GDP per capita table.When it comes to innovation, we are ranked 23rd in the 2022 Global Innovation Indexrd Out of 132 economies measured. While the organization’s innovation and business sophistication are acknowledged to be at the ‘Top 10’ level, Ireland is simply ‘European average’ when it comes to his output of innovative creatives.
A cynical view is not a starting point here, but an observation of the practical reality facing marketing professionals right now. It existed before humans landed on the moon. 1956, believe it or not. AI has already progressed past tech enthusiasts, visionaries, pragmatists, conservatives, and even laggard skeptics, fully past Rogers’ adoption curve.
AI is mainstream and ubiquitous in our lives. Most of the time we don’t know it. Generative AI, on the other hand, is another story. “Next big thing” Stories from the actual delivery below: “How can our marketing and products (or services) better serve our current customers while looking ahead to increasing our market share?” It goes back to the simple marketing theory of ‘needs, features, benefits’.
- Are our brands consumer-driven or market-driven?
- Are the revolutionary evolutions of product strategy and marketing mix enabled or driven by technology?
If only it were that simple. We all know it’s not. In addition to the cultural imperatives of the organization, the demands of management and investors should be defined as “innovation, disruption, curiosity, and 1st ‘to market’ delivery.
Talking about disruptive strategies is always positive and it makes us all question the norm. The safe zones where our experience has served us may no longer be safe. clichés make us question everything. Some may think that the business itself cannot be destroyed, but I suggest that human capital can destroy everything. Technology may be a disruptor, but human capital builds it and human-defined governance regulates it. Disruptive innovation comes in many forms. It’s just semantics.
The obsession with AI continues as “generative” shiny new toys are being talked about in Twitter spaces, Discord channels, LinkedIn webinars, marketing industry conferences and boardrooms around the world. Some conversations and initial beliefs are about “magic wand” CX capabilities, cost savings, and overall transformative potential.
the voice cries, “How can I take advantage of this opportunity? How can I avoid being left behind?” mosquito? Behind that, the legal and ethical debates on AI are unfortunately often very disconnected.
The reality is that very few agencies and brands are delivering transformative generative AI impact…….yet. Like his shiny new toy predecessor, his NFT and Metaverse advocates (I’m one of his), many continue to soliloquy in parallel digital universes.
Some agencies are persuading clients to run proof-of-concept campaigns. Some companies offer based on insight and value-added utility, pushing boundaries and brands into previously untested channels. But learn from past innovation POC errors. I minted his NFT collection on my own and then bought it into an empty wallet and opened it fresh for the purpose. Blockchain has nowhere to hide! Discord channels remain empty and unmoderated, and projects are correctly categorized as “rugs”. Awards may follow, but integrity lost cannot be restored.
Conversely, many companies continue to “build a bear market” and it is these brand and agency collaborations that will thrive in the next bull market. The beta of Starbucks Odyssey and its tokenized “Stamp” loyalty program is progressing at a pace, raising the bar for others to follow suit and possibly replicate.
The campaign narrative originated by GenAI is pushed. Credit and credit go to those who make the most of the opportunity to illustrate the possibilities of both AI and GenAI and remain grounded in the reality and power of the human creative mind. Most notably, Heineken’s new Charlie chatbot, leading an enhanced recruiting CX. Nike and Tommy Hilfiger are also entering beta with their joint creation of GenAI products. This is because fashion brands continue to innovate (and fail) faster than many other verticals.
While highly functional, CNN had already reported concerns from teachers and parents about Snapchat’s new AI features on the day of its release, with concerns of both privacy and “spooky exchanges” being widely cited. I’m here. Perhaps most worryingly, Premium He cannot turn off AI features without purchasing a subscription. AI plagiarism may increase when it’s time for homework, but when it’s time for exams, the bot won’t help!
But are some of these issues reason to be skeptical or cynical? Absolutely not. Innovation and R&D are always cyclical and iterative, like the seasons. His one winter in crypto is followed by a spring in which market capitalization hits new all-time highs. One mass-adopted innovation catalyzes a new ecosystem built on top of infrastructure. Tokenized gateways for digital assets and AI-powered CX and UI will become the norm before we know it. That is certain.
So the real learning is learning now. Learn to innovate, or innovate to learn. That’s the problem.
In the midst of this, I heard a pay phone near the Darts D4…
“Have you heard about our new multi-tiered GPT chat prompt strategy that built our affiliate marketing centralized e-commerce site in 3 hours?” No, I didn’t. Think in your heart…
I love and respect your passion, but can’t you revisit some of your marketing basics? % will help.
Pausing is deafening, but the non-GPT answer is simple.
“Tomorrow never comes, so we must innovate today.”
Gareth Irvine is OLIVER’s Digital and Sustainable Business Director.
