Proliferation

Aug 08
0

Why Aren’t Millennials Buying Stuff?

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As the Millennial generation is graduating from college and entering the workforce, finances and student debt are now a forefront issue for this age group. While the average student has $37,172 in student debt at graduation, saving every dollar is essential to financial freedom later down the road.

While many Millennials are quick to point at student debt to the sole contributor, there is also a lack of connection to consumers about their products. Millennials enjoy feeling connected and marketing firms are trying to figure out various routes to connect their consumers.

Here are some products that are lacking in the understanding and connection front.

Fabric Softener

While the title may seem self explanatory, many millennials have no idea what this product is supposed to do. If the purpose or value is not explained as clearly as possible, the potential for purchase is extremely low with this age group.

Also, brands such as Downy do not resonate with these consumers as they deliver no further value to their lives. Lastly, it is not a necessity in doing laundry, only an added bonus. With money being tight with this age group, they want to spend it only on necessities.

Golf

The sport of golf is extremely traditional, slower-paced and expensive. These three attributes do not align with this age group very effectively, resulting in a decline in revenue for some major golf brands. Also, the sport is extremely difficult to self-initiate. Many people were influenced into the sport by a family member or friend. Unless it is a group of friends hitting golf balls for an afternoon, this sport is lacking connection to the new age of adults.

With these products not aligning with the values of the new marketplace, Millennials will be quick to eliminate them because they’re unnecessary. Content marketing companies are constantly trying to figure out what these very complicated consumers are looking for in order to drive sales.

Many an advertising agency has zeroed in on what the consumer wants from major brands, and are bringing it to them through whatever means necessary.

Aug 04
0

Should Marketing Agencies Now Be Looking Into Chief Artificial Intelligence Officers?

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Technology has skyrocketed in the last decade — so much so, that some marketing agencies are even looking into hiring on CAIO’s, or Chief Artificial Intelligence Officers. Yes, you read that correctly.

Concepts like artificial intelligence and machine learning are not as abstract as they once were. They’re now flowing into various aspects of the advertising world, forcing marketing agencies to keep up with the technology and successfully direct it into their business.

What Is Artificial Intelligence? 

The idea of artificial intelligence (AI) is a theory and development of computer systems that are able to perform tasks that would usually require human intelligence and interaction. Some of which include visual perception, speech recognition, decision-making and language translation.

Another way to define artificial intelligence is by using the word “crazy.” It’s something that most people can’t even comprehend at this point in time.

The Next Big Title

It’s beneficial for marketing agencies to incorporate this technology because developments such as the AI dashboard allow for the agencies to know when there are unusual patterns in their metrics. In addition, some agencies are looking into how to use AI to improve efficiency of their internal processes.

Understandably, some agencies are hesitant to let a robot-like creature take over the reigns, while some agencies are more confident. For instance, one brave independent media agency in New York just hired on a new executive director of cognitive solutions, who will be in charge the agency’s work surrounding the AI-like department.

Don’t Get Left Behind

Though AI is still in it’s semi-early stages and there are currently not many, if any, positions strictly dedicated to its growing development, it will one day in the near future be worth investing in.

For marketing agencies, the creation of artificial intelligence basically means life or death. If they shy away now while the concept is still new, there will be an evolutionary divide. This means that those who didn’t jump on the AI train are left abandoned at the station, not moving forward.

Sources:

http://adage.com/article/agency-news/chief-ai-officer-big-title-media-agencies/309667/

Aug 01
0

Is the Tech Industry Becoming Too Big?

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Written by Ascari Pena

 

Microsoft is beginning to cut back their sales and marketing teams, which allows us to ponder as technology becomes integrated into our daily lives. In 2014, nearly 17 million workers were employed in the high-tech sector. While this number continues to skyrocket, many other sectors are either being eliminated or restructured.

As an advertising agency in Utah, we are seeing an incredible boom here in the Silicon Slopes with jobs and economic growth.

Advantages of the Tech Boom

As technologies such as self-driving cars, virtual reality and fully automated online retailers such as Amazon, there is no stop to what technology companies are going to innovate. Technology also brings alignment to the consumer, allowing them to have a much more informed purchase cycle.

For example, before smart phones, the average consumer would visit around ten car dealerships to “kick the tires” and see pricing options. Now, the average buyers visit around two dealerships because of the help of online information and resources.Technology also allows the consumer to be smarter with each dollar they spend.

A perfect example is ride-share programs. The taxi business has never been centered around the customer experience, with rude drivers and ridiculous pricing to make for a pretty unpleasant experience. From here, comes Lyft and Uber, offering a much more customer friendly experience at a much better price. Now, taxis are struggling to survive — for better or worse.

Disadvantages of The Tech Boom

While technology is great, it has come with unfavorable conditions for some. Billions of dollars are being lost in traditional mediums such as television and print advertising. With everyone ditching anything even remotely related to the word ‘traditional’, businesses are folding. Traditional television advertising, shopping malls, travel agencies, newspapers and book stores are all having to change their models drastically to keep up with the demands of a 2017 consumer.

At Fusion 360 Agency, we understand where the eyeballs are at. We know that traditional models are dying and we are the pros of digital sustenance — from content marketing to SEO. Our combination of services have allowed us to build something great, and we’re happy to see innovation as a result.