Mastering the New Marketing Mindset
Martech Outlook | Tuesday, March 02, 2021
Unlocking the promise and potential of marketing in the future will need new leadership and a sense of purpose for its mission.
FREMONT, CA: A transformation of marketing is underway as people spend more time on their mobiles, tablets, and laptops. The challenge for brands is to interact with customers through these devices in real-time and create campaigns that work for social media, display advertising, and e-commerce. The modern-day marketing department should combine the creative side of the discipline – using powerful narratives to tap into people's aspirations – with the technical side of data, analytics, and digital engineering. So there exists a threat if brands do not do it. In his book named Quantum Marketing: Mastering 'The New Marketing Mindset For Tomorrow's Consumers,' Mastercard CMO Raja Rajamannar states the need for marketers to quickly adopt these changes.
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Rajamannar describes quantum marketing as the "tsunami" of advancing technologies—artificial intelligence, wearable devices, augmented reality, virtual reality, 3D printing, drone deliveries, 5G wireless, telemedicine, and holographic projection, and many more—that will bring unprecedented disruption in the marketing arena. He also exemplifies the importance of integrating emerging technologies to spearheading new marketing strategies around physical and digital experiences to revamping sonic branding. According to him, AI will be the single disruptor for marketing or the single biggest anything for marketing.
Most often, organizational leaders across many brands do not fully understand what marketing does and what it can do. Marketing cannot succeed unless leaders in companies—whether it's a CFO or CHRO or CTO or CEO—embrace marketing. It is always an uphill battle for the marketer if the rest of the firm's ecosystem doesn't get what marketing is and doesn't support it. To support and educate marketers more broadly, Rajamannar is working with several groups and also leading a task force on technology to explain the contracts. Tech stacks organizations should have in place.
From simple beginnings, marketing has never stopped evolving, primarily led by advances in technology. To date, Marketing has emerged through several paradigms and is now on the verge of the new paradigm, quantum marketing. This time, it must not be evolution but a massive disruption. Quantum Marketing is that new framework that will help challenge current thinking and guide towards mastering the new marketing mindset for modern-day consumers.
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