It’s always interesting to imagine where we’ll be in 5 to 10 years with respect to marketing. Peter Dahlstrom and David Edelman have done this in their article for McKinsey Quarterly. These authors believe we’re about to enter an era of on-demand marketing.
Dahlstrom and Edelman point out that digital technology has brought us much closer to obtaining any information we need at any time. But, they suggest we are just getting started and that consumer demands will cause businesses to up their marketing game to stay competitive. The authors have divided consumer shopping expectations into 4 categories:
- Can I
- For me
Consumers are already trained by nimble marketers to expect immediate answers, the 'now' scenario, to their demands for products, services, and information. In the future, marketers may find themselves partnering with related businesses to enrich consumers’ digital experience in the ‘can I’ scenario. Dahlstrom and Edelman describe an example of technology and marketers working together to help home buyer use apps to instantly discover whether they can qualify for a mortgage on a home they are looking at. The ‘for me’ category is a further customization of messaging that is already taking place on many levels. Tech companies and marketers that find ways to use the massive quantities of rich digital information to customize recommendations about products and services will have a competitive edge. The key to all of this is ‘simply’.
Currently, too many of these processes are clumsy or fail to work well together. But new kinds of marketers, using data and technology, will find a way to effectively reach consumers.
Do you agree that we’re about to enter an era of on-demand marketing? Are there stumbling blocks the authors haven’t mentioned that must be resolved first?