Google MD talks of the future of marketing
Google’s Managing Director of Global Client Solutions discussed the future, including the growing trend for Chief Marketing Officers to become CEOs, in a wide-ranging presentation yesterday called ‘Digital 2020: What To Expect And How To Be Prepared’.
Kiran Mani’s lecture was to MICA, a marketing college in India, and touched on digital innovation, marketing trends and wider issues such as healthcare.
“I am sure of a future where our children will all live up to the age of 150 and beyond. A small chip under the skin or a mere contact lens can predict diseases in their initial stages. Given that 95% of diseases can be cured if identified early, such a technology will drastically change the face of healthcare in the future.”
He talked about what people buy. “In the next 5 years, ways of doing business will change. It is because today we don’t buy products; we buy into ideas.”
“Marketing is no longer just about communication. The world has the habit of boxing creativity into communication. It is amazing how much design can do and the digital revolution has shown us how to break the barriers around creativity.”
He urged his audience to alter their perception of marketing as being merely ad-making. “The days of branding are over. Brands of today are built real-time – by satisfying sales needs on a daily basis.”
“Mobile is not a trend-in-the-making. It has already happened. Today, over 50 billion devices are digitally enabled. In five years, with the advent of Internet Of things, this will rise to 5 trillion devices, sending out some form of signal for marketers to make use of.”
He listed out the three important areas to watch out for in the immediate future as
- standardization of platforms
- a dashboard-type technology to process information
- the emerging field of Precision Marketing, which is touted as the future of media planning.
He also said that “It is easier to solve large problems than small ones.”
“Today’s graduates have big dreams, but poor ability to do things on the ground and get their hands dirty.”
He also outlined a theory of abundance and urged students to “harness opportunities rather than trying to defeat peers.”
His recognition of the power of marketing could hardly be overstated. “In a world where entire products are made from user insights, marketing is a skillset required in every field,” he said.
It was in this context that he noted the recent trend of Chief Marketing Officers being inducted as CEOs in big companies, which he saw as reflecting how much digital communication is disrupting every concept of Marketing.