It all comes down to a simple number -- 24. Every single human being on Earth, rich or poor, each of us has only 24 hours per day. Now, how we spend those hours, that’s a different story. These days technology defines how we use our time and in many cases highly successful marketing wins the time war and, as if by magic, turns time into money.
Here in the UK we have world-class leaders in creative thinking, branding and strategy but in order to stay successful we need to truly understand and learn how to harness the new “marketing technologies” to enhance our bottom line.
Remember when it was all so simple? You watched your favourite soap and a tv advert caught your eye. The next day you popped into the shop because something you needed was on sale. Job done. Score one for the ad man.
Back to today’s reality … first thing in the morning I roll over to check Facebook before I read a newspaper online. On the average morning I have seen a dozen ads before I have even gotten out of bed. Gone is the trip to the bricks and mortar shop. If I want it, I just click.
The line between technology and marketing is blurring more and more each day. Innovative technologies are being developed so brands can engage customers, drive market share and in turn sell more product. But don’t think understanding the dynamic duo of digital marketing and social media are just for the Blue Chips – you need it too. We’ve all heard, “All companies are going to become software companies.” But what does this mean?
Brands of all sizes need to find ways to keep ahead of their competitors and according to Bonin Bough, the VP of Global media and Consumer Engagement at Mondelez (owners of Cadbury), “Brands need to continue to innovate their conventional marketing or they will die.”
Developing ways of using technology to its fullest potential is the key. But where is this innovation going to come from? Where do we look for the next hot thing? The likely source is the young digital savvy entrepreneurs who understand just what tech can do for all of us.
For the UK to remain competitive in the global marketplace – we need to support these entrepreneurs as much as we can, not only with investment but also support from experienced businesses people who have had great success in building large scale businesses in this sector.
Silicon Valley know how to do this better than anywhere in the world – they build valuable companies and then they reinvest their cash and knowhow back into the next generation of entrepreneurs who do it all over again. Here in the UK we have lots of experience and successful entrepreneurs – now I want to see them investing back in the sector they came from and support our world renowned creative industries.
I’d love to hear from you on what’s the best blurred line of technology and marketing that you have experienced? Do you know of a young tech entrepreneur who needs support or advice? Drop me a line. I’d love to hear from you.
Rose Lewis is a partner at Pembridge Partners Ltd, which invests and advises businesses in the marketing, media and technology sector. Rose champions and advises early stage companies on fund raising and mentors founders through their early company development.
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