The future is now. Are you ready?

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This year's GRMA Leadership Summit was a real eye-opener for those of us who monitor retail trends and opportunities. There's no question that to build our brands today means that we have to be more responsive to change than ever before. It's not just a matter of getting on the bandwagon of the new technologies and media, but it requires marketers to re-think their programs and strategies and to constantly be ready to adjust how they are going to reach today's consumer with their messages. Two of the speakers at this summit, Ray Kurzweil and Rob Conway were particularly visionary with what they see happening in technology and mobil media. I wanted to share my notes with you this month to give you some of the highlights as I reported in GRMA's blog as well. These presentations brought a telescopic look into the future. The speakers were beyond being experts. They brought us an opportunity to look down the road at how technology is going to effect retail business but how it will affect our lives in the years to come.
You should have been there.

8:00am to 9:30am KEYNOTE ADDRESS: Innovation in an Era of Accelerating Technologies
Ray Kurzweil, Famed Futurist, Visionary and Bestselling Author,
Transcend and The Singularity is Near

Reading Ray Kurzweil’s bio and introduction, I knew we were in for an experience. When he started to speak and modestly talked about some of his accomplishments and the people he has dealt with, I was in awe and felt I could relate to those who have climbed the mountain for an audience with the Dalai Lama. Here is renowned inventor and genius, who not only has lived through the information boom of the last 4 decades, but has been instrumental in much of what has happened, and has predicted much of it. The “restless genius” (as the Wall Street Journal has called him) said that the pace of change is accelerating exponential and that the next decade will bring in unprecedented change and innovation. The fact that 400 million people already on Facebook—an idea that hatched just 6 years ago—is just an indication that soon everyone on the planet will have a cell phone and that will bring them access to knowledge that has never been so readily available to everyone.

While the growth is exponential, the size of the hardware reduces at a similar rate (think Univac compared to iPhone). And this underscores the potential that we will be able to infuse our bloodstream with mini-computers the size of a single cell that will help ward off cancer or administer insulin or other antibodies is just the tip of the iceberg when it comes to the potential for changing life as we know it. And we will know it longer than ever. Some 15 years more to be added to our life expectancy—so much for retirement soon. Solar energy is also growing exponentially and within 20 years, Ray predicts, it will replace fossil fuels as our energy source. For us marketers, we need to know that human intelligence is growing in the same way and if our brands are going to continue to succeed in the long run they must grow and change along with the smarter customers. In education, we need to recognize that all the new technology provides knowledge on their belt and in their hand. So we don’t need to teach them facts as much as helping them know how to find the information with the available tools. We talk about social networking and mobile marketing and we are still learning. But the realization of the revolution that we are in requires us to think more outside the box than ever and tap in to the expertise that is required (but is available) to help our companies, our brands, and our people keep up with the pace of an ever-changing world.
Check out www.kurzweiltech.com for more information on this brilliant man and his teachings.

9:30am to 10:30am Integration of Mobile and Wireless Technologies and
The Real Impact on the Consumer Experience
Rob Conway, CEO, GSMA, recognized as the most influential person
in telecom in 2009 by GTB Power 100 Magazine

“GSM is the technology behind the mobile platform that enables universal interaction via mobile devices. “
And if you stop and think about this statement, you’ll understand what an important role Rob Conway plays in the future of the world today.

“Mobile 4.5 Billion Connectiona, Fixed 1.1 Billion Lines.
Mobile will overtake desktop users in 2013 (predictions)”
Mobile marketing is not just an important trend. It’s obviously the future of where we need to be if we are going to keep pace with today’s consumer. They are moving there fast and we, as marketers, need to run to keep up with them. Google has now said that they are “mobile first” and judging by the proliferation of Apps being sold to iPhone users like myself, they are right on track.
Only 4% of advertising spending is online today, but will grow exponentially as more people go mobile for information and more. Look at how many iPhones have been sold. And the iPad, according to Rob, is the next revolution that has already started. One of my fellow attendees demo’d his iPad for me and I was amazed and wanted one for myself. We will soon, I know. This is just the tip of the iceberg when you consider that an average iPhone user downloads 10 Apps per month and spends 30 minutes a day doing research. It’s not just a phone for sure.
Brand Apps are the next big opportunity, but you have to make sure it’s not just a key to getting to your ad. It has to provide a service (like priceline.com’s app—hotel negotiator. Check it out.) If makes the user’s life easier, then there is potential—big potential.
And iAd’s are on the way. Where you’ll be able to advertise your store, product or service to just the right person via their mobile device right when they want it and where they want it. And they will be able to act upon it right away in real time.
I could go on. Augmented reality will help customers more than ever to find your store and your brand right where they are. And mobile coupons are way more than a store or product coupon that you can print out. They convert your device into the coupon which can be redeemed with a wave of your iPhone at the store. Wow.

INNOVATE. MARKET. OR….?

A couple weeks ago in San Francisco, I heard more information about mobile and Internet marketing, as well as social networking. It was more than my 64KB mind could absorb! And it wasn’t redundant at all. There is so much happening today and retailers and marketers are moving much more quickly now to take advantage of the tremendous growth being experience both by the customers and by the companies staying ahead of the game.

There was a great deal of revelation for me as I listened intently and then cast my evaluation of the speaker immediately via text message on my iPhone. Only thing that was challenging was spelling the presenter’s name correctly. Some fascinating information on how fast it’s growing. For example, the iPhone I have has more power than a seven year old Mac computer. So we have PC’s in our pockets, not cell phones or cameras. On average today in the US, over 400 text messages per person are being sent from one pocket PC to another. We have surpassed the rest of the world, which we were trailing significantly just a couple years ago. It took 2 years for iTunes to download 300 million apps. They hit the 3 billion level only 3 months after hitting the 2 Billion mark.

I could go on, but I think you get the point that this revolution in communication and marketing is moving faster than anything we’ve ever seen and it’s only going to accelerate as iPads and Kindles become commonplace. Yes, Peter Drucker was right about the importance of innovation several decades ago, but he is prophetic today.

The companies making all this technology work for them are the ones who are innovating with the way they reach their customers in their new mobile lifestyle. But let’s not forget the other key element…marketing. As I said in an online interview (link to it) a few months ago, if we get so caught up in keeping up with the technology that we forget to get back to the basic principles of effective marketing and branding, then we aren’t going to win. The most important thing is to remember that we are still talking (however, digitally we do it) to real people who still want to see, feel and touch the merchandise or experience the store after they do all their homework on their pocket PC. We can’t leave traditional media out of the equation either. Apple didn’t get to their skyrocketing numbers by just communicating online. It’s traditional media campaigns (with not-so-traditional messages) that have set the pace for creativity and break through marketing. Microsoft does some of the best print and broadcast as well. However, it’s the branding and the marketing strategy behind those messages that makes it all work. Best Buy understands that it’s got to market as aggressively today using both traditional and new media—but it’s making them work together to reach today’s savvy customer.

Macy’s is doing a lot to step up its online activity, yet it’s being out performed by Stage Stores (link) who has made a major commitment recently to technology to support their 758 stores in 39 states. Stage maintains their brand positioning that made the original stores the preference of the local markets they serve. With a 4th Quarter increase in net income of nearly 10%, Stage has taken it’s flagship store brands and made them even stronger within their markets. They’ve used technology to work smarter and traditional marketing to keep close to their established customers.

There continues to be a lot of news out there and the potential marketing benefits of the FaceBook, Twitter, YouTube et all, are yet to be seen despite their unbelievable growth. However, while trying to stay on top of new technology and capabilities, it’s critical to also keep on challenging your organization to innovate with new ideas that will excite customers. We need to market them more effectively to keep the customers coming back after they press the power button on all those pocket pc’s.

DON'T MISS THIS YEAR'S GLOBAL RETAIL MARKETING SUMMIT IN ST. PETERSBURG, FL, AT THE DON CE SAR HOTEL ON APRIL 22-24. ROB CONWAY, THE MOST INFLUENTIAL PERSON IN TELECOM, WILL PRESENT AS WILL AUTHOR RAY KURZWEIL AS PART OF PROGRAM THAT WILL HELP YOU BECOME BETTER INNOVATORS AND MARKETERS. GO TO http://www.globalretailmarketing.com

BRANDING TO YOUR PEAK OF SUCCESS

PRESS PLAY>> NOW FOR A SHORT VIDEO MESSAGE FROM KEN.

Being in the mountains is always invigorating to me , especially when I am skiing. Looking backup the mountain at the peak from which we just descended provides a great sense of satisfaction and accomplishment. Then looking up to the next peak always provides a challenge of impending exhilaration knowing there is another run to be conquered and a spectacular view to behold.

On my recent return trip from Colorado, I found it ironic the book I tossed into my case was Spencer Johnson’s (author of Who Moved my Cheese?; One Minute Manager) latest book—Peaks and Valleys. (http://peaksandvalleysthebook.com )Like his other books, this was another quick and easy read with the key message all summed up on one page (page 90 this time) so you couldn’t miss the lessons to be learned. In short, it’s a book about the peaks and valleys of our life (career or company) and how we must keep an eye on the peaks, which provide excitement, success, and perspective rather than muddle along in the valleys of our routine and mundane activities. I recommend the book to give you some quick perspective, especially in these economic down times and the personal struggles that accompany them.

It’s also a good lesson on branding and marketing. If we allow ourselves and our companies to get caught up (well, actually down) with the challenges of the day-to day-price wars in the valley and lose sight of the potential and vision that we had in mind when we developed our brand strategy, the chance for success and for differentiating our stores, products or services from the other competitors sloshing it out in the valley is extremely limited.

In particular, I look at stores that have abandoned any marketing or branding activities in order to cut costs or accelerate their price promotions in order to convince customers that they should shop them instead of the stores across the parking lot or street. Most of the remaining department stores have totally forgotten about trying to give people a reason to chose them over their discount or specialty competitors and in the process have essentially lost a reason for being. The recent consolidation of shopping center developers reflects the growing irrelevance of major malls and centers that are not in tune with today’s consumers’ shopping habits and preferences. In fast food chains, the preoccupation with seeing who can sell more $1 double cheeseburgers has totally ignored that customers really want a sandwich that simply tastes great. (Five Guys figured out that people really do want a great hamburger and fries even if it costs 3-4 times more than McDonald’s or Burger King’s options).

If we consider that we should keep our eyes and strategies focused on the peaks of a strong branding strategy that itself differentiates us and creates a relationship with the customer faster than getting out of the valley of our sales doldrums. Like the main character in Peaks and Valleys, getting out of the mess we have created ain’t easy, but the climb back up to the peak is both satisfying and exhilarating. And it provides the perspective to make our business more successful and our brands more relevant on an ongoing basis.

Back to the slopes!!!


PS: For some exhilarating thinking about your brand, plan on attending the new Retail Innovations and Marketing Conference in San Francisco on March 2-4. This unique event brings the best of the former Retail Advertising Conference with the online thinking of Shop.org into a new forum that will help keep your eyes on the peaks of success. Check out the details at http://events.nrf.com/innovate10/public/Content.aspx?ID=6394&sortMenu=103000&exp=2%2f17%2f2010+1%3a56%3a12+PM.