Guest Post by Tamara McCleary, CEO of Thulium
Superpowers of AI, IoT, Marketing Automation and Big Data!
The entire marketing field is seeing dramatic changes in 2017. In fact the entire role of Chief Marketing Officer, (CMO), is shifting, even being entirely dropped by Coca Cola in favor of a new “Chief Growth Officer”. Recently we have seen Marketing take on a larger role in using technologies such as Artificial Intelligence (AI), Big Data, Marketing Automation and more. To underline the massive growth in technology in the marketing field, Gartner recently shared that in 2017, CMO’s will spend more on IT than the CIO.
My work consulting and working with companies in the mobile and telecommunications field over the past couple of years has exposed me to another shift in technology, 5G, which will impact the marketing team in a way many are not yet expecting.
Superpowers are FAST!
By 2018, 5G will provide incredible increases in mobile data speeds, allowing an unprecedented ability to share data across an unlimited number of sources. 5G will enable devices to share data across a greater frequency spectrum at exponentially faster speeds than today, over 30 gigabits per second.
How does speed and spectrum change the data dynamic? With 5G, our mobile devices will be as fast or faster than current high-speed wireless networks, allowing the streaming of 4K and VR video from a mobile device. Adding the speed of 5G to newly launched unlimited data plans from mobile providers, one can foresee a day in the next couple of years where many people and companies will begin to use their mobile devices as wireless data access points, with no need for traditional fiber-optic and wired Internet connections.
Superpowers SEE all!
The drastic increase in speed and use of mobile devices will be a boon for marketers looking for additional data on consumers. As individuals shift more and more of their data use to their mobile devices, even more data on their interests and spending habits will be available to be fed into Big Data systems to be compiled, analyzed and acted upon by analytics and AI technology.
In addition to mobile, the Internet of Things (IoT) and other devices connected to the internet will also provide an extraordinary amount of data for marketers to analyze. In fact, Juniper believes the IoT is expected to encompass over 46 billion devices by 2023. Whether it be a wearable, an automobile, your refrigerator or even your thermostat, marketers will have an unprecedented view of your life, and most importantly your preferences, unlike ever before.
While marketers will have even greater access to your interests and preferences, they also have an opportunity to interact with you in more places, more often. For example, the growth and introduction of autonomous vehicles and in-vehicle entertainment systems powered by 5G will allow people even more time to consume data, entertainment and product advertising in a 24 hour period.
Consider a future where, while on the drive home from work, a person is served up a special offer to purchase an item at a retail store located at the next exit. AI systems have observed the individual’s browsing and shopping habits and have correctly interpreted the person’s desire to purchase a particular item, thus offering them a convenient opportunity to pick-up the item for a special price.
Diving even deeper, marketing and sales automation systems could monitor an individual’s wearable device, offering a refreshing beverage based on a mix of physiological, geolocation and shopping preference data. Going even another step further on this "ride home from work" scenario, companies would also be able to understand and interpret buying patterns, deducing a recent payday and offer a more expensive item knowing the individual may be open to a purchase due to their psychological feeling of financial comfort having just been paid.
Virtual reality, 4K video and the ubiquitousness of social media networks also offer additional opportunities to share personalized offers and immersive commercials personalized for each viewer.
5G is opening up massive opportunities enabling marketers over the next couple of years to harness the power of AI, IoT, and big data to better understand the customer and deliver a level of personalization and experiences that surprises and delights. At no time in history has the marketer had more tools and information at their disposal paired with the technology to interpret, devise and deliver unprecedented personalization and customer experience. 5G is the iconic phone booth that marketers step out of, fully outfitted in their superhero costumes. It’s a bird, it’s a plane, it’s a marketer on 5G!
Tamara McCleary presented the session “Futurecast Beyond Mobile, Data, and UX: Engagement, 5G, and the Future of Communication” at LiveWorx 17. Be sure to register for LiveWorx 2018, June 17-20 in Boston!