Technology is fast becoming “the new battleground” for brands, according to Commonwealth Bank’s outgoing chief marketing officer Andy Lark.
Lark, who spoke at the Adobe Symposium on day two of MAD Week yesterday, said technology is now the core differentiator for brands.
“The people with the best technology, the best customer experience, in this age of the connected customer – they will win. They will win, time and time and time again,” he said.
“Technology becomes the battleground.”
Every 12 years there is a “tech-tonic” digital shift, and now instead of just dealing with a ‘plus one’ of new media marketers are faced with +1².
“It took roughly 12 years for Google to get to about between 10 and 12% of our media investment as enterprises. That is not going to happen in the future,” Lark explained.
“Facebook is on a trajectory to get there in four to five years, Twitter is going to come on fast behind it here in Australia.
“And the reality is we are not dealing with a plus one we are dealing with a plus one squared. And that is and enormous challenge.”
The +1 or social era we are currently in is set to morph into the sensory era or into the ‘internet of things’, which Lark said “is going to be even more dramatic”.
The ‘internet of things’ is where every everyday device will be able to connect to the internet, is set to become a reality and it will be here within three to five years, Lark argued.
Mobile is still viewed as an add-on by many marketers and they are set to be left behind, Lark warned.
The desktop and tablet are becoming increasingly location based, mobile is the device that is with consumers all throughout the day and into the evening.
“The winners in this next wave of online innovation, digital innovation, will be those who win in mobile.”
“There is no such thing as multitasking. People talk to me about the second screen, the third screen, the screen that is 8 inches, the screen that is 11 inches – that is all garbage.
“There is only the screen you are looking at. The reality is, increasingly people are looking at what’s in their palm.”