How to navigate the innovation crossroads of 2023: 4 quick tips
Does 2023 see brands at an ‘innovation crossroads’? Adam Harriden of agency Invnt thinks so – here are his tips for choosing the right path.
Agency Invnt tells us how to navigate the 'crossroads' of emerging tech in 2023 / Antonio Feregrino via Unsplash
Like never before, 2023 sees an influx of emerging technologies and shifting consumer behaviors. For many brands, it will be a year of opportunity; for others, it’s sink or swim. Like the Sony Discman and so many other innovators transformed by evolving technologies into distant memories, I think we know what happens next for brands that can't adapt.
1. Don't disregard AI, but don't fear it either
Look at artificial intelligence (AI) as a 'tool' to help elevate your brand and connect with your audience in new ways. AI is changing how we interact with the world around us, and streamlining how we work. From data analysis to content creation and language translation, AI can assist client projects, empowering humans to focus on more personalized tasks that are advantageous to our passions and core skill sets.
Although there have been questions about whether AI technologies will take our jobs away, AI can also empower us to bring to life business ideas that were once distant dreams. For example, AI-powered app platform Builder.ai makes app development accessible to anyone, claiming to create software faster and cheaper than humans can. The result? All those incredible ideas we think of in the shower can come to life very quickly. All you need now is the vision.
2. Web3 and the metaverse aren’t going anywhere
Eventually, every brand will be present in this space. If you're looking to move into this decentralized, community-focused landscape, have a solid idea behind every action.
This space is a new platform, not a standalone idea. To the avid collectors, artists, and gamers in the community, web3 is no passing fad, so don’t treat your web3 project as such. Power and ownership are getting placed back into the hands of creators, so consider how your brand can provide value while curating and cultivating a community from the execution.
A great example is Nike’s .Swoosh platform, which has rallied the sneakerhead community to create and purchase digital wearables like shoes and sports jerseys. It also serves as a platform to educate and onboard this specific audience to the wonderful world of web3. This platform is a shining success of a 2-in-1 solution, with even an NFT collection to be released later this year.
3. Customer engagement is shifting from consumption to participation and ownership
More and more, value-based, exclusive communities are emerging. It's time to say goodbye to the flashy, disconnected activations and cash grabs that once earned fleeting attention, with no consideration of a longer-term strategy to retain consumer connection. Today, the consumer rules. Align with their values or prepare to fail.
4. Keep calm, and carry on with a blended world
Life in 2023 is better hybrid. When thinking about how you can create bold, award-winning, magical, and creative marketing moments for your brand, don't think about whether you should go down the virtual path, or one that is in-person and physical. Both work best when integrated.
Multi-channel marketing is a huge opportunity: brands don't have to tell their story through one avenue, but can do so with plenty. By using an integrated marketing system, from web3 to print, each channel can play its part in telling a brand story in formerly unimaginably immersive ways. Whether you're looking at OOH, augmented reality, or even looking to bring augmented reality outdoors, challenge yourself to ensure that these channels showcase the brand story, and see how you can tick off those marketing objectives one by one.
Content by The Drum Network member:
[INVNT GROUP] THE GLOBAL BRANDSTORY PROJECT™ was established as an evolution of the founding global live brand storytelling agency INVNT in 2008, with a vision to provide consistent, meaningful, well-articulated BrandStory across all platforms.Find out more