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We’ve all heard of virtual reality, and by now we’ve also all heard of augmented reality, but the most recent version of these alternate worlds comes with an entirely new term: synthetic reality. Bringing with it countless new opportunities for business, this technology is being used in the most unexpected of places – not least of which the recently announced comeback concert of renowned pop group: ABBA.
When seeking to understanding their customers over the years, brands and organizations have had little option but to rely on blunt instruments and generalized patterns. The valuable work of marketers, analysts and strategists centred on segmenting society into broad groups based on gender, ethnicity or geographic location. These groupings would then inform how products and messaging could be tailored for relevance. In the modern age of data analytics, however, it is not only possible to understand and target an audience of one but it is increasingly becoming the expectation.
From online shopping to online dating, the digital age has introduced people to a range of options that previous generations could only have dreamed of. For every option that is swiped left or scrolled past, there is an array of others waiting that may or may not be better suited to our personal preferences.
COVID has drastically changed the way we shop. Online shopping, direct to consumer business models, curb-side pick up and e-commerce have all skyrocketed in popularity during the pandemic, leaving many businesses scrambling to catch up. With COVID having accelerated the transformation of consumer behaviour, businesses and brands need to move their position in line with the times.
Here are four ways to reposition your business or brand:
For years, millennials have been the central topic for discussions of marketing, workplace culture and employment. However, while millennials remain crucial to these discussions, our current moment is revealing a new subject of discussion: that is, the millennial’s younger cousin, Gen Z.