The forecasts sound almost incredible. Gartner estimates that Internet of Things (IoT) products and services suppling companies will generate incremental revenue of over $300 billion by 2020.
The analyst company IDC sees the worldwide market for IoT solutions to grow from $1.9 trillion in 2013 to $7.1 trillion in 2020.
Brands like the electric company GE predict the Industrial 4.0″ will add somewhat between $10 to $15 trillion to the overall global GDP over the coming 20 years.
Samsung will invest more than $100 million for IoT startups that will help the technology manufacturer establish new ecosystem for connected devices.
The Internet of Things is at an all-time high until today. Companies want to connect consumer devices, appliances, and services in order to connect their services with devices and then generate some smart data to leverage their value chain.
Interestingly enough Google owns some of the most promising IoT companies (Nest and Dropcam) already which will make some people look sceptic how the search giant will move more and more into their lives.
Smart devices are definitely the big trend for 2015. Whether it will be Jawbone though. After testing the wristband and it’s usability, I am not quite sure if this will be the way into the future. The car industry seems to be catching up though with their smart watches replacing keys and other driver necessities.
Even the whisky industry works with smart bottles now telling us how old the whisky really is, according to Venturebeat.
The guys at WRIKE just recently pulled together the 11 most ambitious IoT start-up companies should have an eye on. Furthermore, they added to their infographic three established brands which they think will have their big breakthrough in 2015.
In days of Facebook, AirBnB, Tumblr & others, when new business models and start-ups spread all over the world, some marketing freelancers might think about the option to appear big. Or shall I say for some interim period of establishing a business, these people might want to look bigger than some decision-makers might imagine? Whatever their driver might be. When starting a business, marketing consultants have got the challenge to look professional all over their brand. An address in the right context location seemed to be a must-have. It’s all about the brand, right? However today, the overarching value of a new business brand might have changed. What was a shiny office address in the middle of town in the year 2000, isn’t important any more (and maybe never was). There are new and probably better options that virtual offices can offer.
Thinking back around millenium days, when we launched a start-up with some good business partners, the venture capitalists would have loved the option of a virtual business. The resons were obvious: The business model puts a foot on the „valid business reasons'“ groud instantly. Operationals can start immediately. Being first to market, cannot be taken away from you. „Land and expand“ is the option. All set. In 2000 this sounded like a dream for founders and their investors. Our company’s rental costs were the biggest liability we had those days (also when we bought the business and sold some years later). We couldn’t just leave and sign off our contracts. The landlord was clever enough to keep us in our rooms for at least six more months. The virtual office is much more flexible and usually offering shorter termination periods.
Talking about liabilities, you might also think about getting a secretary? Another cost topic. Virtual offices have got their own secretaries who will look after your business. Calls, postage, or even emails if you may want to leave it to them: all sorted out by them. Whether it is PR requests, marketing topics, sales inquieries or any other service related business, the virtual assistant is giving clients and business contacts what they are asking for (if you brief them properly). No overhead business. No extraordinary employee costs. If it is your own staff, you have to find replacement for them on days of illness or family issues. In virtual offices, the service is available 24/7/365. These days, you do not necessarily have to pay for health treatment if someone is ill. And speaking frankly, this harms your business in the start-up business three-fold: cost-wise, additional workload and underpaid founders doing processes and projects they should not be looking after in the start-up period.
Later, when I started some other consulting business, I used a virtual office place to start the business. The benefits were quite interesting then:
a) Pay-per-stay. When I was in London for business, my virtual office would have been fantastic. Why do you always have to commute around London and waste expense budgets, when from time to time you can just have gotten people to commute to you?
b) Pay-per-use. When clients came to visit, I did one phone call to the virtual office desk and paid for hourly use. That was really handy. Do I need to „own“ (and pay) a meeting-room that is unused for 35 out of 40 hours a week?
c) Pay-per-need. When I needed a desk, I paid for a shared desk. If I wanted to stay at home, I just told the office desk the day before. Do I need to rent a place where „my“ desk stands and is waiting for me too many days in a month? Traveling is the key to starting a good business. Meet as many people as you think is necessary.
d) Pay-per-inspiration. When I needed business exchange, new innovative approaches or even looked for some new networking opportunities, there were people from many industries to talk to at the coffee lounge in the virtual office. On a good talk, I paid for the coffee. No cheaper way to get consulting. And: Who goes a floor down in his office, just to meet someone as they are tenants like you are in order to speak about business?
There are valid business reasons to use a virtual office company when you start a business. When the business grows and you have got paperwork to store, you might think about using a bigger version of the virtual office components and features. Still, the reason for renting an office in days of cloud computing, bigger WIFI access and coffee bars in virtual offices is becoming smaller and smaller. And even, if your business grows, there are many ways to leverage the virtual office s long as you act in start-up mode.
The growth trend of the digital marketing show dmexco is impressive and continues to write a promising (hi)story.
Visitors: 31.900 – increase by 16% compared to 2013
Exhibitors: 807 – means over 65 exhibitors more than 2013
Speakers: 470 – as of various stages with new start-up village and work labs
This year I wanted to wait some days before I am writing my little review to see what really stayed in my mind, and what people were talking about after the event. This is what stayed in the brains of my friends – maybe it should reach you.
1. „dmexco is like the Lumascape brought to life.“
#Quote in Breaking Down Silos for Brands Panel
Damian Burns, Director of Global Strategic Partnerships, Google
2. „Nerd is the new black“
Brad Rencher, SVP & General Manager Digital Marketing, Adobe
3. „Online is the new offline.“
Quote by Joko Winterscheidt, TV-Moderator
4. „The play is to work out the first against the second screen.“
Quote in „Addressable TV – A Marketers‘ Dream Panel“
Jim Clayton, Executive Vice President, HE New Business Division, LG Electronics
5. „The digital revolution is over, we are now in the digital evolution.“
Quote in Digital Revenue optimization 2.0 Panel
Sital Banerjee, Global Head of Media, Philips
6. „The brand in many ways need to take the back-seat. It can’t be all about the product if you move into the content section.“
Quote in „The Content Summit“
Jimmy Maymann, CEO, Huffington Post
7. „@ft presence at #DMexco so big they don’t even have a stand! They are on every phone and tablet! @dmexco @ftbized“
Quote from #FT rep/via Oliver Matthews
The three main takeaways from the event for me were…
a) Trend: dmexco stages are challenging global TV stages.
b) Topics: TV goes mobile. Digital is leading corporate strategy.
c) Town: Cologne needs more taxi drivers and/or UBER subscribers.
Really looking forward to moderate the next dmexco, 16th and 17th of September 2015.
Last year, I had the pleasure to announce this gentleman for one of the main dmexco stage panels. And I can tell you, it was not fun to complement him to go off stage when their speaking time was up. Terence Kawaja is a funny character and great speaker, and he doesn’t like being stopped talking. Now, the investment banker and founder of LUMA Partners introduced his latest chart of the Lumascapes which will define a new status quo in the advertising industry.
After their numerous Lumascapes on search, display, video, mobile, social commerce, and so on, this time we get to see their perception world of native advertising. Although the definition on native advertising is still evolving and may seem some kind of „rough in barriers“ and not very much detailed, it is making it’s way through the brand campaigns of companies. Not even the IAB playbook on native advertising gives us a clear definition on what exactly native advertising is, and how it differs from content marketing, branded content, or even how it can be located against approaches like story advertising.
To the guys of Business Insider, Kawaja said about his latest version…
„Given how consumers ignore banner ads, these new consumer – friendly formats are proving to be the engine for how marketers can engage audiences, especially in social and mobile contexts.“
Let’s hope he his right with his perception. I realized some brands of emerging companies are missing in the chart, maybe as it is an American view, maybe because we are often getting invites to the latest new start-up in this field, maybe as we see the world a bit different. Still, Kawaja and his team have done a good job again. Let’s hope he is joining dmexco 2014 again.
Most professors might answer in a diplomatic manner: „There is always two sides of the coin!“ Smart bloggers love to look into the future and prefer outlooks to reviews. However, those always rely on findings and insights which bring them to life in the end.
So, I have dared to head for an outlook in 2015, into the future of web strategy. As many managers are not quite familiar with the term „web strategy“, let me define it our way. In 2012, we have often realized that there is quite some misunderstanding what web strategy really means:
„Web Strategy translates the organisational targets and values in roadmaps for the top management and their teams in terms of all generated and doable business processes via the Web. Web Strategy creates a picture of the future of client communication which connects the networking trends of the Internet and the tools of modern web development with the individual business tactics of a cooperation in order to develop a superior company vision. ©The Strategy Web GmbH 2012“
Bearing this in mind, I have written a blog post that defines a futuristic view on some new job titles. It shall illustrate which old job roles might become critical as well as which new challenges arise in companies when changing or restructuring organisational frameworks in companies. So, let me define some new job roles that clever managers should be thinking about. Each top management should be thinking carefully whether or not they will need one of these job roles in their company. I am quite sure that these job roles will become important in the future on web strategy.
And don’t be surprised when I give those job roles kind of a hierarchy. The formula behind it is quite simple…Knowledge x Data x Content x Culture x Clients = Company Success
a.) Corporate Knowledge Officer
The main challenge for any HR department is to tie the pearls of the corporate value chain long-term. These employees are the knowledge of the company, the pillars of productivity. If one of those pillars leaves the company behind, the person takes the knowledge with them, and often all of their knowledge gets lost. But what if employees understand that the feeding hand of a company offers less pension protection by 2025? What if by 2020, Millennials, the generation that will make up almost 50% of the global workforce, will deny the traditional workplace mentality and start making their knowldge available more on a project basis? What if knowledge workers stop working for one company but prefer to share their knowldge in a „buy-my-brain“ mode?
Leaders who believe in Social Business, those who want to secure knowledge and make it „always-on“ available shall consider the position of a Corporate Knowledge Officer. They are game changers for analysts, market researchers and leading consulting corporations.
b.) Corporate Data Scientist
The world speaks Big Data. Buzzword or biz value? There were not many words you could hear in 2012 at web events, where „web stategy“ still often is a foreign word. Why Big Data rules? Well, just look at how much data is being generated in 60-Minuten on the web, or how fast reactions and conversations evolve. That’s why data is becoming a challenge for the whole value chain of the company. However, which business is able to accomplish a job role which is said to become one of the sexiest in the future according to Harvard Business Review? Where is this person located in the excel sheets of businesses that unites the capabilities of a logician, explorer and mathematician in one person? There are not many avalaible yet. Corporate Data Scientists are those brains who know how to turn the process of 0 and 1 upside down in order to draw some conclusions for new content and values.
Leaders that don’t want to stop at data mining or business intelligence processes should figure out the value of the Corporate Data Scientist. They are challengers for PR and marketing decision makers who need to prove their credibility by showing facts to their CEOs.
c.) Corporate Content Officer
Content forms data. The problem? Content is the weakest production department of companies. In most cases PR experts or publishing houses have taken over the content production. Although most media companies are struggling themselves with unique content generation. But who is meant to do the content research? Who is able to write and schedule stories? Who can prioritize, aggregate and curate content? And where will companies find the publishing expertise to become a media company? If content marketing is the future, who will pioneer on the path from PR and marketing to the journalistic hybrid of corporate publishing and community management in the company?
Leaders who see conversations as an opportunity and understand the sense of integrated communities in websites will evaluate the position of Corporate Content Officers. They are the media coaches and editors-in-chief of businesses who bring all company departments to produce content for their special business area.
d.) Chief Culture Officer
The modern development in content and data generation as well as a new understatement for knowledge management is walking on the stage of change management. A stage that Grant McCracken featured in his book. Employees need to find the deeper sense in the evolution of new platforms in business processes. Employees need to understand the complete benefit of tools and tactics before they will be forced to make use of them. Especially, for those employees who do not like email communication but shall start working with communication streams and updates all of a sudden. Stream-Working is a culture of openness and transparency which is not everybody’s friend. And sometimes the best lighthouses might not embrace those changes.
Leaders who know about the challenges of working with multiple project platforms will appreciate the additional benefit of a Chief Culture Officer. This job role will be the prolonged arm of the management team, the „personified culture geek“ and at the same time working very close with the HR team.
e.) Chief Customer Officer
Customer change the rules of the game via open communication, praise and critic. What was top-down is now bottom-up. Customers are kings. A sentence that made people cry some years ago. Today, the 3R’s of the social customer -Rating, Review, Recommendation- make managers and leaders start crying. They let whole revenue streams start shaking at times. Those managers who get their experience from digital conversations with customers, who appreciate when data becomes content, and who create a culture of cooperation and collaboration, then you live and breathe the values of empathy that customers are longing for. Then companies create the right fascination for brands, products and their own company.
Leaders who accept the community of customers as the ecosystem of perception, and who believe in brand advocates, critics and moaners as equal process partners will think about integrating a Chief Customer Officer as an institution that is meant to drive business growth. They will be game changers for sales people and customer service employees.
Never before have I spoken about and discussed so much about new job definitions and job roles in my life like in 2012. On congresses as a moderator, on B2B events as speaker, or as a rebellious start-up panelist.
Will one or some of these job roles become reality? You decide…
We know that our teenagers are tech-savvy like we have not even been TV-savvy at the same stage of live. This modern generation is incredibly connected, wired and online these days. The digital world and technical devices seem to rule their daily lives. So, how far are they going with their digital communication engagement?
Some interesting studies and infographics might help us identify what drives the lives of the 18-34 year olds. The millenial teenager has…
– 319 online connections (versus 35-46 year olds with 198 online connections)
– 40% video chat with their friends
– 63% write daily text messages with friends
– 39% speak on the phone daily
– 35% interact face-to-face outside of school
The downside of all the digital consumption was found by a Kaiser Family Foundation study. It shows that heavy users (47%) were earning grades of C or below in school versus only 23% of the light users. And if the heavy users get in trouble twice as much as light users, it makes you think what all that digital overload is not making with us, and especially our young generation.
I know of friends and other people that passed my life who had bad grades and today have their own company, did fantastic start-ups, or help other people manage their business better. So, is the digital revolution really bad for this tech-savvy millenials?
An interesting infographic from OnlineSchools.com combined the Kaiser and Pew results and added some findings from Common Sense Media and some other organizations. This, and some another infographic from OnlineGraduatePrograms.com, will help marketers and the „older“ generations understanding why technology is driving young peoples‘ lives. This is not all the latest findings but seeing it on one spot always gives some thought-provoking statement which we all should think about and discuss…
There is not one industry today that is not effected by the way we interact through Social Media. The Swedish start-up Tripl illustrates with a fantastic infographic how much the travel industry is influenced and effected via modern online conversations and check-ins. The necessity for hotels, airlines and restaurants to engage and understand Social Media is obvious: 50 Mio. reviews have been created on tripadvisor only 495.000 rated hotels!
Some key facts…
– On a daily basis, 72% of social network users access their social network sites while travelling
– The top 5 airlines have 2,566,000 fans on Facebook
– 200 Mio. passengers will board GOGO-WiFi flights in 2011
– Traffic growth of travel companies from social networks? Facebook 69% and Twitter 46%!
…and that is only 7% using mobile internet while tarvelling internationally!
It seems to be the right time of the year. At the end of a quarter, companies are buying companies. Just look at how ebay grabed GSI Commerce yesterday. Suddenly the former number two in the retail industry is becoming a competitor for Amazon.
However, even more interesting for me was how quick the Social Media Monitoring (SMM) industry is becoming mature these days. The evolution started last year when the Attensity Group acquired Biz360…
At a time when marketers realized the importance of social media monitoring but still have their internal issues with the listening and analysis technology, Social Media Monitoring will become a boost of awareness by the deals that happened this week. In one week we have two mergers… Meltwater, a social media monitoring provider, buys the Social CRM company named JitterJam. And today Salesforce, one of the leading CRM technology companies acquires Radian6, one of the top Social Media Monitoring providers which will give the „new“ companies the opportunity to become a leading supplier of SocialCRM in the future.
Alterian’s James Eiloart, SVP Sales and Marketing Europe, gave me their feeback on the merger of their main competitor in the Social Media Monitoring arena…
„The purchase of Radian6 by Salesforce.com endorses the importance of the Social Media Monitoring market which we invested in 2 years ago when we acquired SM2/Techrigy, bringing this capability to mainstream marketers and highlighting these tools as something which all organisations need to embrace. However we also recognise it’s not just about the tools or access to tools, it is about having the skills to use them at the micro level, and also being able to use social media data at a macro level, in context of the broader marketing picture. This is why we acquired Intrepid last year who bring the Social Media Monitoring insight services and also consulting to help our partners and clients really use Social Media Monitoring to generate real value across the organisation.“
The micro and macro level will probably become the next challenge for marketers and business leaders. Identifying important communities and social influencers, or analyzing Social Media does only make sense if marketers understand how to answer the Social Media ROI question. And this is a question of understanding the value of conversations. Businesses are build upon these pillars and their ground will be the evolution and execution of SocialCRM which will speed up as a business topic now that these mergers are done.
Social Media Monitoring has become mature… and goes out to get married. Just some weeks ago, Gartner VP Michael Maoz predicted SocialCRM is taking holidays, the social media industry makes an interesting move towards aligning the best of breed from social media and CRM technology. The importance of the social media monitoring tools for the SocialCRM development becomes clear when listening to Forrester analyst William Bandt. He shows some real interesting examples of companies already making use of SocialCRM by showing the value for sales and marketing teams on targeting, acquisition, retention, insight and collaboration with customers.
Last week, I had the opportunity to take part in (and speak about the future of targeting at) an interesting event called The World after Advertising. The well-organized day offered a full program on the future of media and web business from all aspects: advertising, collaboration and insights, insights, insights which will help us understand the new ways of monetization and how to turn our business models in the direction of a cultural change that is happening already.
For me the most inspiring speech was held by Rob Gonda, Director of Strategy at SapientNitro. Rob was giving a broad overview of the digital landscape and his interactive outlook into 2020. I liked his approach to make people understand that in principle our business stays simple. It is based on technology, media and data, and the way these will be interacting in the future. When he quoted data from Morgan Stanley that there is a global opportunity for internet advertising of 50 Billion USD, he got the right switch to the main technology that will drive these bucks: Go mobile!
Thinking about the future of the internet and the future of advertising (if the future of advertising will be advertising), I actually got two views this week: Rob Gonda’s and Dean Donaldson’s (Mediamind). Having attended a Mediamind event on Monday, the output of both speeches sounded alike: Sensors are the future drivers of the (mobile) internet and might replace (or even become?) the cookie technology at some point in the future. „Sensors are the cookies of the future,“ said Dean Donaldson. And Rob showed examples like Ray Ban’s virtual mirror and Unilever’s ShareHappy (see video).
In his key-note he also talked about the Internet of Things, he mentioned that Wallmart uses RFID codes for better tracking of their inventory and expects manufacturers to put RFID codes on products before they come to their stores. Although Rob considers a „normal level“ evolving and adapting from a user perspective when maschines start talking to each other. I base my view more on a sceptic user behaviour, a privacy debate which will arise from it (or people will simply cut out the labels…), and also a cultural alongside the evolution of a new generation. He made clear that he sees the tipping point of the Internet of Things (see IBM explanation video) not before 2020 – another view I share with him. Though there are many reasons of why the Internet of Things could be with us earlier than we think.
After his speech I had the option to touch base with him on the Internet of Things. Watch it…
His six predictions were definitely something to think about. Though I rate his visions, I would doubt that all of these will become reality…
– Location-Based-Services will die – My answer: Depending on user flexibility and information overflow, and whether the user wants to receive information from things like wallpapers and the likes when they are passing by…
– Facebook own 50% of advertising – My answer: Whenever a market-leader became to popular, some new start-up or competitor took market share of them. Do I not see an advent on the horizont from the guys at Paths and Diaspora…?!
– Facebook penetrates APAC >2bn users – My answer: Defintely worth a try for Facebook, no surprise…
– Android + GoogleMe – My answer: Yep…!
– MediaTradeFloor: My answer: The danger for a jobtitle like media planer to die becomes reality, it seems…
– Media budgets will shift – My answer: Yes, the challenge will be to integrate the user in this process. If he/she voluntarily tells us their preferences, ad technology will deliver more precisely and ads/commercials will receive new conversion levels.
Looking forward to get your views on the Internet of Things or on Rob’s predictions… Share them with us! Let’s discuss…
Social Web: „When you decide to jump in, resist the temptation to sell, sell, sell.“ – Interviewing Scott Monty
At the Detroit motor show 2010 Ford executives from around the world spent one entire day engaging with Ford Fans and online influencers on social web platforms like Twitter, Facebook, BlogTalkRadio, CoverItLive, and more.
TheStrategyWeb was given the chance to exchange some questions with Scott Monty, head of social media at FORD Motor Company, about the company’s digital tactics, the social web and their web-strategy.
Scott Monty The design and development process was very much a One Ford process. German-based Gunnar Hermann has been the lead for the new global C-car platform. He worked with a team of global engineers, including people such as Jens Ludmann and Jim Hughes, who are the Focus lead engineers in Europe and North America, respectively. While we’ve seen a steady stream of customers in the U.S. showing interest in the current generation of the Focus in Europe, the process for developing a global car was well underway before we implemented our social media strategy.
Q: In which way is the One Ford strategy influenced by your team’s social web activities, or vice versa?
Scott Monty When Alan Mulally joined Ford in September 2006, he set the company on a course of brand consolidation and product planning that incorporated the One Ford vision. Our business plan and communications goals were set, and our social media strategy was developed to support both.
Picture above: FORD CEO Alan Mullaly and Social Media Scott Monty at Detroit motor show C-level social media jam.
Q: What were the biggest challenges when the Ford top-management decided to implement a social web-strategy?
Scott Monty Surprisingly few. There has been no resistance to change, and indeed, there’s been an incredible interest in this developing field by a wide range of our most senior executives. While we’ve enjoyed success in our social media activities over the last year (especially in the U.S.), the challenge ahead of us is how we effectively scale the operations and how we roll it out regionally.
Q: How important is it for companies to have all employees understanding and living the social web engagement of the company?
Scott Monty To the extent that a company is involved in social media and invites a culture of participation and transparency, it’s vitally important. But more than just understanding the tools and platforms; what we’re talking about is cultural change and a transformation in the way we do business. If we can help employees to understand that, we’ll be successful regardless of what social network our strategy is executed on.
Q: How important is web-strategy for the Ford business today?
Scott Monty It is vitally important, as that’s where our customers are. It’s where they do their research and it’s increasingly where they’re having conversations about our brand. We’ve dedicated 25% of our marketing budget to digital and social media – more than twice the rate of others in our industry. And when you consider that consumers trust people like themselves more than companies, it’s vital for us to open up ourselves to them and have them experience our vehicles and tell their networks about us.
Q: Why should companies have a (social) web-strategy in place in the upcoming decade?
Scott Monty The web – particularly the mobile web – is increasingly where people are spending their time. When they first stop to research your product is Google, everything you and your customers do on the web is trackable. And it’s where your company’s reputation is being built, every day.
Q: What advice would you give to companies that think about setting up their social web-strategy?
Scott Monty Listen first. Take time to discover what people are saying about your business and to understand the unwritten rules of the online communities in which your customers participate. Become a member of those sites or networks and spend time looking around. And when you decide it’s time to jump in, resist the temptation to sell, sell, sell. People are on these sites to talk with each other, not to be marketed to. Try to provide value. Be helpful. Ask for feedback. Give them unique and interesting material they can’t get elsewhere. Doing all of this over time will build trust and a deeper relationship with your customer base.
THX Scott for the time and your interesting insights!
About Scott Monty
Scott is head of social media for FORD Company. Or do you want his official title, then here you go: Global Digital & Multimedia Communications Manager. And he is a blogger. As a marketing and communications professional he has worked for a number of industries (healthcare, pharma, biotech, travel, automotive, tech, and communications), and numerous clients, from start-ups to Fortune 500 companies. Today, he is a strategic advisor on all social media activities for FORD.