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mentorup · 7 years

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2017 MentorUp | Session #5

Session Breakdown | 60 minutes

Introduction | 2 minutes

Mentee’s Perspective | 4 minutes

News | 8 minutes

Work | 8 minutes

Our Work | 8 minutes

Trend & Hot Topic | 10 minutes

Dialogue | 10 minutes

Flex-Time | 10 minutes

Introduction

Welcome to session #5 and more importantly, welcome to the second semester of MentorUp 2017! After taking a much-needed July break, it’s time to dive back in!

Although most of you are quite familiar with the purpose and goal of this program, let’s do a refocus of a) why we’re doing this and b) what our ultimate goal is as mentors and mentees.

The goal of MentorUp, simply put, is to inspire through education and informed discussion.

By equipping and empowering rising leaders (that’s you, mentors!) at The Marketing Arm with relevant and timely industry news, work, technology, and topics, they then cultivate valuable discussion with the senior leadership (that’s you, mentees!) of our organization focused on the provided topics.

The output is an increased spirit of innovation and knowledge, a relational and connected agency, and most importantly, an inspired and educated leadership staff that can then confidently steer our agency, our work, and our clients with an educated eagerness of what the future holds.

While it’s valuable to refocus a program’s purpose and goal, I find it equally inspiring to refocus your current role’s purpose and goals. Whether it’s making the time to honestly access the value in what you’ve set out to do in your 3x3 or simply learning a bit more about how you’re uniquely designed in an effort to understand how to motivate yourself and others towards greatness – take a moment, and think. I promise… your Instagram feed, your email, and those dishes will still be waiting for you on the other end.

Mentee’s Perspective

Before you begin your session, don’t forget to gain the valuable perspective of your mentee(s). Their mindset and perspective should be a guiding force in how you present this material.

For some starter questions on how to do this… here are a few.

1. What is going on with their clients and their clients’ business?

2. What are their focuses right now?

3. What are your initial thoughts on Influencer?

4. Has your client ever done an Influencer program?

5. Where is the Influencer opportunity with your client?

With their perspective in mind, let’s embark on this month’s session!

News

Keep in mind that we have 2 months to cover here – so being high level and efficient with time is key. Only deeply discuss news that has a direct implication to your mentee’s client or that they are specifically interested in. You’ve got this!

1) Disrupting Retail:

A) Amazon Buys Whole Foods

Just in case you’ve been in blissful vacation mode and have somehow missed this one… Amazon has indeed begun the process of buying Whole Foods!

Amazon initially announced the purchase decision in mid June with a reported price tag for the foodie haven being a whopping $13.7 billion. Amazon, of course, will be paying this in cash #nbd. If you’re wondering, “Amazon + Wholefoods? An unlikely pair indeed!” Think again.

With ventures such as Amazon Fresh and Amazon Go, the innovation-obsessed company has many food ambitions for the future, but it doesn’t stop there. What about retail? As Forbes insightfully said, “when the news broke last week, critics saw it as a sign that the company had finally caved and made a large investment into physical stores in order to grow. What many didn’t see, however, is that this acquisition is, in fact, in complete alignment with Amazon’s view of the world of retail.” With the strategic use of data, Amazon has been disrupting retail ever since the company came into being. Have you ever thought about how data plays a huge rule in Amazon’s ability to disrupt retail?

A few other things that you should know while on the topic of Amazon is that they recently announced the creation of Meal Kits (bummer for Blue Apron) as well as a curious new tool called Spark, a shoppable feed of photos and stories.

B) Brandless

On to the second bit of disrupting retail news, let’s chat about Brandless. This fascinating start-up that received $50 million in first round funding is up and running, people!

What is it, exactly? A new cpg brand that’s essentially brandless and offers all its products for $3. How do they do this? An article from TechCrunch captured it perfectly by saying, “By stripping away what it likes to call the “brand tax” — i.e., all the costs related to the traditional consumer packaged goods distribution model — and going straight to the consumer, Brandless can offer its goods at 40 percent less than comparable products on average.”

With the packaging being simple and straightforward, it’s an oddly comforting brand experience in that there’s no clutter, no cost confusion, and frankly no bs.

(Note: As to taste, first box has been ordered, received, and second box is en route bc OMG it’s good. #notsponsored)

How do these bits of news potentially affect our clients? Any thoughts in regard to the future of retail? Are these disruptions attractive to you? If so, why?

2) AirFrance Creates New Brand for Millennials

As generations change, so do preferences. How does a brand stay true to who they are while also reinventing themselves for the new generations to come? Most brands balance the two, while some, like Air France, just decide to create a whole new brand for their new market. This summer, the European airline announced their new venture, Joon, an airline brand targeting young adult passengers “whose lifestyles revolve around digital technology and who are spontaneous and keen on new experiences.” This is more than a mere concept in that flights on Joon will begin this fall with a scheduled roll-out plan of being in full operation by summer 2018. Now I know what you’re thinking… it’s low cost, right? Think again… this airline will offer “original products and services that reflect those of Air France.” Instead of an airline brand, they are striving to be a lifestyle brand.

Now, we know that Hilton very strategically has launched Tru, a brand of hotels specifically targeting young adults/millienials. What other brands are you seeing do this? Do you think it’s smarter to invent a whole new brand or simply balance the many differing generations you’re trying to reach?

Will we see more brands do this in the future?

3) Cryptocurrency 101

[@Mentors, if your mentee already has this base understanding of blockchain and crypto-currencies, then please spend a brief moment on the big news at the bottom. However, if they did not attend the Q2 ITK, below is a quick 101 course in crypto-currencies. You can then send the links in a follow-up note, there will not be time for both.]

The concept and initial discussion around crypto-currencies was covered in the Q2 In Tha’ Know (click here to download slides and notes). For those of you who missed the Q2 ITK, here’s a quick recap as well as a few updates on what’s going on in the cryptocurrency world.

Before understanding any type of cryptocurrency, you’ll need baseline knowledge of blockchain technology. This is the technology infrastructure that allows any crytocurrency transaction to take place. Think of blockchain as similar to a card inside a library book: it’s a digital ledger showing where that book has been. Rather than that digital ledger living in one place, it’s shared amongst computers all over the world. Instead of thinking of blockchain as an Internet of information, think of it as an Internet of value.

Now knowing that, let’s then move to how a transaction takes place.

Step #1: Transaction -> two parties, A & B, decide to exchange a unit of value (digital currency or a digital representation of some other asset, such as a land title, birth certificate, or educational degree) and innate the transaction.

Step #2: Block -> the transaction is packaged with other pending transactions thereby creating a “block.” The block is sent to the blockchain system’s network of participating computers.

Step #3: Verification -> the participating computers evaluate the transactions and through the mathematical calculations determine whether they are valid, based on agreed-upon rules. When “consensus” has been achieved, typically among 51% of participating computers the transitions are considered verified.

Step #4: Hash -> each verified block of transactions is time-stamped with a cryptographic hash. Each block also contains a reference to the previous block’s hash, thus creating a “chain” of records that cannot be falsified except by convincing participating computers that the tampered data in on block and in all the prior blocks is true. Such a feat is considered impossible.

Step #5: Execution -> the unit of value moves from the account of party A to the account of party B.

You’ve most likely heard of Bitcoin. That is one of many types of crypto currency (also can be called digital or virtual currency).

Must-know news:

1) The Bitcoin fork

2) ICOs for start-ups

3) Status ICO

Work

1) Royal Caribbean’s SeaSeekers

At this point, many of you have gotten to explore what Snap Inc.’s Spectacles can do for social content in TMA Lab’s Technology Experience that travels to the various TMA offices. A question that’s been asked again and again is “how can a brand utilize the technology of Spectacles strategically?” Royal Caribbean has done just that.

The popular cruise line created a snorkeling/scuba mask that has Snap Spectacles built into them, allowing underwater explorers to capture unique content. Calling them, “SeaSeekers,” Royal Caribbean is offering them for rent to guests onboard their ships. Such a simple idea with a creative twist!

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Is there a unique way your clients could utilize Spectacles? How does this simple, but innovate piece of work inspire you?

2) IKEA Cook this Page

Raise your hand if you’ve ever put IKEA furniture together? If you have, then you’re familiar with the simply white pages, black ink instructions, and an “assembly-required” style of product. Taking the same approach as they do for their furniture, IKEA created recipe posters that held the instructions for meals - which of course used the store’s selection of frozen food. Their goal was to inspire IKEA consumers to see how simple trying a new recipe actually is, by minimizing the stress/intimidation factor of a new recipe.

Calling the recipe posters, “The IKEA Easy Recipe Series,” they handed these clever instructions out at in-store events across Canada earlier this year. Now the best part of these posters was that the paper was actually parchment paper and the ink was cooking safe, allowing each recipe to end with folding the paper together and cooking the recipe in it! #brilliant

Featured recipes included a baked salmon, a pasta dish, and of course… Swedish meatballs. The design, the recipes, and the simplicity generated so much buzz that loyal consumers are now begging IKEA to make this a store staple.

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What do you think of this idea? Does it remind you of a personal Tasty video experience? How can you infuse simplicity and convenience into the consumer experience of your client or as we said in the last ITK, save them time?

Technology

1) KLM Care Tag

What if you could take a brand experience beyond where the brand’s normal end point of interaction is with the consumer? That’s exactly what KLM airlines did with their connected KLM Bag Tag. This smart, audio and GPS enabled luggage tag essentially keeps their helpful flight attendants with you as you explore the airline’s hometown of Amsterdam.

The tag will do things like alerting you of busy bikers to watch for, a potential pick-pocket heavy area, a low bridge to not bonk your head against, and of course, interesting historical information about the city. Cool detail about this? The voices that offer helpful and interesting information are actual KLM employees, making it even more personal.

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What are your thoughts on this? Have you ever thought about what it would look like speak to your consumer in a completely different setting? What about making sure the step before or after their interaction with the brand is simply better?

How is this inspiring to you?

2) Acura Embraces AR

The car brand live-streamed an augmented reality race on Facebook featuring a new sedan. They had four different drivers drive a real track all while wearing AR enabled helmets to create a virtual environment and experience for them. The Facebook live viewers were able to see the perspective of the driver.

With Apple’s ARKit being teased for this fall, understanding the technology that is going to be in the hands of all iPhone users is wise.

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Check out other brands that have been using AR here.

Trend

This month, we’re going to explore an insightful consumer report by the trusted resource, PSFK. Since this report is too lengthy to discuss in full, the key elements have been taken out to provide good discussion for your session.

Before beginning your session, please think about what business your mentee works on, and what clients are involved. After reading through this trend, present it for their capability and client(s)!

The 2020 Consumer

[Full report here]

Understanding consumers is tough! Although we can count on human truths to remain constant, consumer communication style and the ways they want to experience a product or brand are constantly changing, mostly due to innovation in the digital space.

Historically, brands have controlled most of brand engagement and experiences, but the future consumer is changing this.

With the onset of digital media, consumers gained power. This power is evolving though to a point where “ in more and more verticals we are seeing a significant shift, where the consumer takes control by acting as, or even replacing, the brands that have traditionally provided products, services, and experiences.”

Some insights and statistics that highlight this are,

Americans devote more than 10 hours a day to screen time – a rate that is growing. [The total Audience Report: Q1 2016. Nielson]

60% of travelers around the world say they would be unwilling to go on vacation without a mobile device. [Expedia/Egencia Mobile Index. Expedia, 2016]

Only 1 out of 10 of top Gen Z influencers are traditional celebrities. They favor Snapchat and YouTube stars and other people who look like them. [Anna Fieler. EVP of Marketing, Popsugar]

One third of U.S. social media users ages 16-34, or 25.5 million people, are social influencers. 1.61 million have already partnered with a brand online. [Yahoo Deep Focus. Shareablee and Ipsos, 2016]

With digital use increasing, consumers giving more power to peers than to brands, and consumers wanting and expecting to influence brands…

“Leading into 2020, our definition of consumers is changing: technology-driven shifts empower them to assume a greater, if not complete, role in designing and directing their own products and experiences. The consumer no longer simply interacts with a store, hotel, stadium or media channel; he or she possesses the tools and skillset to embody those roles independently.”

See this Consumer 2020 playbook below for what roles consumers can take on.

We’re going to take a quick look into each of these five roles. Put your thinking caps on folks… here we go!

1) Consumer as Platform

We all have a lot of data. We all use a lot of data. This data shapes our experiences, what we see, and what we do/decide. When brands encourage and reward consumers to share this network of data, “brands can build upon each consumer’s platform of personal information to offer hyper-relevant, flexible interactions tailored to in-the-moment needs and behaviors.” With technologies such as AI assistants, wearables, and real-time data collection tools, consumers acting as platforms enable this role reversal.

Example:

PartyBOT – an app that uses AI and facial recognition technology to give DJs real-time information on how the audience is liking or disliking their music selection. By capturing the mood swings with each song, DJs can make more informed decisions and therefore create a better experience!

2) Consumer as Studio

Quick delivery (Hellooo Amazon Prime!) and speedy supply chains have changed the game of customized products for consumers. Years ago, consumers would happily buy a standardized product, not worrying about any personalization other than their own preference in choice. However, now and in the future, customized products and creation studios offered to consumers by brands and manufacturers will be rewarded by consumers due to their “changing goals and preferences.” Technologies such as data collection, IoT networks, robotics, automation, and rapid prototyping are enabling consumers to more and more act as a brand studio.

Example:

Function of Beauty – a hair care line that lets you choose what your hair goals are and then build a personalized hair care system for you. The products are bought online in size options that work for each individual consumer and then are shipped. Easy, fast, personalized.

3) Consumer as Store

Mobile shopping (whose got the LTK app?!) and wearables have completely changed the way that consumers access retail channels. Whether selling, purchasing, or merely curating (Pinterest), consumers can access retail at any time. “These unrestricted, flexible purchasing channels help to establish consumer trust and brand credibility by reducing friction that may arise through purchasing limitations.” Statistics such as contactless payments will surpass $1 trillion by 2019, accounting for over 80% of payments [Juniper Research, 2017] further prove this.

Technologies enabling this role reversal are mobile payment networks, peer-to-peer platforms, and of course, omnipresent connectivity.

Example:

U.S. Bank Stadium App – the app within the stadium allows fans to order right on the app with in seat delivery or express pick-up both being options. This function is just one of many on the app such as checking into the venue, ordering souvenirs, directions to the stadium and locating their seats or bathrooms. Go Vikings indeed!

4) Consumer as CEO

With digital communication the way it is, consumers’ “ideas and feedback” can be given and heard very quickly, thus having the potential to quickly affect businesses. Any sort of platform that allows consumers to give brands feedback can be used as a tool by the brand to optimize. “By replacing legacy systems with adaptive technology and advanced

analytics capabilities, brands can fully connect and implement consumer evaluations, placing the consumer at the center of company decision-making.” Technologies that have allowed this role reversal are targeted communication, sentiment analysis, and of course… crowdsourcing!

Example:

Volition – this beauty company allows consumers to submit ideas for beauty products to be put on the company’s website. If the idea is approved by the company’s panel of editors, that consumer is paired with chemists and formulators that bring it to life.

In conclusion, 2020 isn’t far away, and there’s no time to lose. How are the brands you work on doing at incorporating consumers into roles normally done by the brand? What ways do you think this could be better?

Out of all the roles mentioned, which one makes sense for your brand strategy? Are you doing any already?

As these futuristic consumers continue to evolve, it’s important to be in tune with their attitudes, expectations, and behaviors in order to “empower, rather than stifle, consumer ability.”

App of the Month

Adidas: All Day

It’s always interesting when a brand jumps out of their vertical and supports other aspects of your life. Adidas has done just that with their new app, All Day. It’s focused on overall health, not just your workout. Things like diet, sleep, hygiene, meditating… it really does have it all.

92% of consumers are willing to hear from marketers if it increases their quality of life.

Powerful stuff people. Check it out!

Content Feature

Crowdsourcing is such a brilliant way to engage consumers, and our tech-crush Elon Musk knows this! Check out the winner of the Project LoveDay crowdsourcing competition that was just announced. Enjoy!

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Thanks!

Extra Resources for the curious TMA’er:

Cannes Trends 2017

3 Innovation Lessons from Jeff Bezos

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