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THE FUTURE IS NOW. ARE YOU READY?

Apr 29, 2010

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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.