Casper Forsström, Experienced Communications and Marketing Professional explored the question if Marketing will survive the Fourth Industrial Revolution (4IR). His research into this topic has a sound base, as Marketing is one of the major tools used in organisations to optimise branding and business growth.
The amount of data, information and knowledge on digital platforms that surrounds us is overwhelming and leads to an information overload. Sound familiar? Fact is the we have produced more data over the last couple of years than in the whole of human history.
The emergence of big data, IoT and, subsequently, the users’ expectations of instant personalisation of almost all aspects of consumption has implication for the whole value chain. Marketing is no exception.
The automation of the marketing ‘machine’ should be done as a means of being more effective. However, by using less human resources, we are just building machines to take over current job functions.
Digitalisation and the IoT will make a lot of job functions disappear. But on the upside, the new tech development is estimated to create million new jobs over the next 15 years. For example, new software and cloud-based production will increase productivity and the possibilities for new product development.
Lets look into the Marketing competencies of the future. Today, data activation and personalisation is key to survive and succeed in marketing. There are competencies that can easily be taken over by computers and AI. The marketing competencies of the future may well lie in the fields of creativity development, interpretations and application of data, agility and adapting to human-made change and innovation. In other words, all competencies where AI cannot outperform the human mind’s capability to activate curiosity, fantasy, imagination, abstract thoughts and philosophy.
For example, ‘Product Development’. The focus is on supporting the business strategy with a clear understanding of what the predictive data means and translating this into the products and services of tomorrow or ‘Creativity’, to have the ability to not only react on the past data and predict the future but to take advantage of the strength of doing something different than expected. Another area would be ‘Innovation’, to be precise, the ability to work agile and adjust to change, which in return can create deliveries that are unique, different and fulfilling.
Will Marketing still exist in the 4th Industrial Revolution? The answer is YES! However, like all other industries, Marketing needs to adapt to the new reality just like all the other industries. The word ‘digital’ will be soon in front of every job title or part of job descriptions.
Are your Marketing strategies up to date to embrace the 4IR? Not sure where to start? Synergy Consulting Australia are business growth specialists who will assist you with a smooth transformation by providing sound business advise as well as tailored corporate training to ensure your organisation is ready to grow in the 4IR.
Synergy Consulting Australia provides a large range of business consulting services which includes 4IR, Legal, Accounting, Marketing, Project Management, Migration services and many more tailored business solutions. This also includes a full market research and feasibility report before investing. www.synergyaustralia.com.au
Synergy Consulting Australia is led by Ilona Solinska. Ilona has over 17 years’ international business consulting experience. She is a successful business growth strategist, Keynote speaker and writer. She has coached hundreds of businesses in the area of Marketing, Finance, Legal, Compliance, Operation, Change & Project Management and is a highly sought-after presenter on a wide variety of business topics.