The Fourth Industrial Revolution

Now that we are in an age where technology effects most aspects of our life, it is claimed that in 5-10 years’ time we will be in the midst of the 4th Industrial Revolution (4IR). More simply, the 4IR will involve new and evolving technologies becoming more and more prominent in our lives.

This will greatly impact the way in which organisations operate in the future. Machines could be doing our work, increase overall efficiency due to faster processes and we will gain access to more and more information.

The question is, how will the 4IR affect the marketing world and what steps should you consider when preparing for this new wave? This is a new reality and many organisations will have to embrace new technologies and methods to grow. For marketing to be effective, businesses will have to make sure that they are modernising the way in which they market their products. Ultimately, it will become more about creating a story and experience for your customers and/or clients through key methods such as virtual reality (VR) and artificial intelligence (AI).

We have put together our key points on how you can best prepare your marketing tactics for the 4IR:

1. Creating an experience

As technologies such as VR and AI continue to advance and become an increasingly popular marketing device, it will become more and more about creating an experience for your clients. This new age will allow customers to interact with products in a much more personal way and gain a more complex understanding into the nature of products and the finer details involved. Artificial environments can be created, which places the user in an experience that is both convincing and interactive. Through creating an enriched experience, users can instantly become more connected with a brand and understand its fundamental values – they are a part of it.

2. Creativity is key

Linking to the previous point, to create an enriched experience for your customers it is important to make sure that creativity is a core part of your marketing strategy. Through creative methods, you need to make sure that you create a story for your brand that is enjoyed by your customers and allows you to form a more personal relationship with them.

3. Improved communication

The 4IR will not only allow the speed in which we can communicate to excel but will also allow us to communicate with a much wider audience and increase “connectivity”. Technological advances will provide us access to more data and therefore we can connect users in a much more intrinsic way on a global scale. Through this, your story and message have the potential to create a much bigger impact and reach a wider audience that potentially wasn’t possible before. As technology advances, the ability to share key messages will become easier as new platforms and devices emerge – for example, language barriers will become less of an issue as rising technologies will allow us to translate at a much more rapid pace. As a result, your brand will be able to reach a much wider and global audience and a larger, positive discussion can be created around your organisation.

4. Modernise your brand

Your brand is your business and should be a true reflection of who you are and your future ambitions. Make sure your brand appeals to your audience and the next generation that will be a key part of the 4IR. Video, animation and other visual and immersive devices continue to emerge as pivotal methods to allow your organisation to grow. Promote your brand as one that is exciting and growing and willing to embrace technological change. Your brand will instantly become more attractive to younger generations, gain more traction (which could result in more PR and event opportunities) and stand out amongst your competitors.

5. Innovation is key

To allow your business to succeed as the 4IR comes in to play, innovation will be key to your businesses success. It is not uncommon for organisations to be comfortable with their current processes and systems. Therefore, change can evoke a lot of hesitation. However, by embracing change and implementing it successfully could aid towards future proofing your organisation. For example, if your business is bringing a new product to the market, incorporating tactics such as virtual reality (VR) may be a good technique to implement as it will allow your customers to interact with your product in a more personal way. Once these new technologies and processes are implemented, make sure that your team are aware of these changes and the appropriate training is put in place to ensure a streamlined transition. This may also allow your organisation to gain wider access to global markets.

6. Increased Productivity

The 4IR will see productivity levels increase. Processes will become more streamlined and simpler, allowing work and products to be completed at a quicker pace but still to the same high standard. As communication methods continue to advance, especially for larger organisations, this will allow team members to effectively communicate with colleagues not only in different offices but in different countries. For those organisations that have an international client base, this will improve relationships and allow more interactive meetings to take place throughout a project at various stages.

by Horizonworks.