Before you do anything, stop
Having seen a number of fantastic presentations today it was hard to pick only one thing to talk about, however after much thought the talk from professor Beau Lotto wins out. The professor gave us a passionate presentation with lots of audience participation on how our perception is unique to each of us and is hugely biased based on all our past experiences. To quote Beau, “The brain is the physical manifestation of all past experiences”. The evolutionary reason for this is that thinking is expensive, consuming 20% of all energy while talking up less than 4% of body mass. However, it limits our ability to see past those previous experiences and change perception and thinking.
To change our perception we need to first change our assumptions. Easier said than done, but Beau gave us a few tips.
What should brands do next? Before you try to answer a problem, stop and try to question each assumption you have. Don’t shift to the next logical conclusion, expand on a new assumption. Have humility to understand that your perception is unique and biased, and there are many other answers. Celebrate diversity, because many perspectives trump niche but “clever” ones. Encourage people to play, as this is the only time we do something expecting no outcome.
Ben Lukawski, Group Planning Director
Can you trust your data?
The underlying theme of today’s ‘Can you trust your data?’ session was that 2017 is the year of machine learning and AI, in the same way that 2014 was the year of mobile. Kristin Lemkau, CMO of JPMorgan Chase, said that her job has become part technologist, part data scientist, “As CMO, you’re not running an art gallery but delivering business results”.
Kristin spoke of the need for brands to understand their technology stack in greater detail . Finally, she called on big advertisers to continue challenging the quality of digital marketing. JPMC is a leading advocate of paying for quality instead of focusing on the lowest CPMs.
What should brands do next? Brands should engage deeply with development of their marketing technology, and work much more closely with their agency partners to build capabilities that are focused on quality, not just reach.
Ali Parsyar, Senior Digital Director
Be true to yourself
In an industry transfixed by a conversation about the power of data and artificial intelligence, it was uplifting to be reminded today about human intelligence and the power of gut feel. Mario Testino, the celebrated photographer, inspired his audience with some simple truths: it’s very easy to forget that following your own instincts is so important and invariably leads to better results. Be humble – when others give us advice, hindsight shows us the majority of it is right and only our ego stops us accepting that. When we have ideas that we believe in, consistency and confidence in our approach is critical for success. Finally, experience is so valuable – never forget the value a few grey hairs can bring to our world obsessed by youth.
What should brands do next? Embrace the artificial, but never forget the power of human intelligence. In the end, we should never forget, we are all human.
Martyn Stokes, Group Planning Director
Are you ready for artificial intelligence?
Forbes magazine claims 2017 will be the year of AI in marketing. Whether this claim is exaggerated is beyond the point. From our session today at PM Transform, we saw that AI is firmly embedded in the roadmap of big global media players such as Facebook and beauty giants like Coty. Media platforms like Facebook are already fully embracing the power of AI, whether to support their advertising product or their users, as with the M assistant for Messenger. This AI future is a definite reality for them. FMCG giants like Coty are exploring AI to improve customer experience through product finders or product advice. Marketing AI goes well beyond advertising, and has huge potential to build rich and valuable brand experiences.
What should brands do next? As Jason Forbes said at end of the session, “One, recruit data scientists experts. Two, train your staff on the business and marketing benefits of AI. Three, last but not least, watch the movie Her“.
Benoit Cacheux, Global Head of Digital & Innovation
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